## **CHARITY COMMISSION REGISTERED NUMBER:** 1162255 ## **Hearts in Education** **Report and Financial Statements For the Year ended 01 September 2021** _0_ ## **Hearts in Education** ## **REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 01 September 2021** |**Contents**|**Page**| |---|---| |Legal and Administrative Information|2| |Report of the Trustees|3-7| |Independent Examiner's report|8| |Statement of Financial Activities|9| |Balance sheet|10| |Notes forming part of the Financial statements|11-13| _1_ **Hearts in Education** ## **REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 01 September 2021** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Officers and Professional advisers** ## **TRUSTEES** Marcia Antoniazzi Onefer Zubeldia Leo McKnight ## **REGISTERED OFFICE** 16 Priory Avenue Harlow Essex CM17 0HH ## **BANKERS** **Barclays Bank Plc** ## **EXAMINER** If applicable ## **CHARITY COMMISSION REGISTERED NUMBER** **1162255** _2_ ## **Hearts in Education** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 01 September 2021** The Trustees, for the purposes of the Charities Act 1993 as amended and Statement of Recommended Practice (SORP) 2005, submit their annual report and financial statements for the year ended 01 September 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the report and financial statements. The Charity is governed by a Memorandum and Articles of Association. ## **PRINCIPAL ACTIVITIES, AIMS AND ORGANISATION OF THE CHARITY** To advance the education of the public in general. The prevention or relief of poverty and financial hardship anywhere in the world by providing or assisting in the provision of education, training, healthcare projects and all the necessary support designed to enable individuals to generate a sustainable income and be self-sufficient. For the public benefit the relief of sickness and the preservation of health in any part of the world by providing or assisting in the provision of medical/healthcare equipment, facilities, and services. To advance the education of the public OUR WORK: Identify the problem We are focused on long-term help in different countries to people or communities affected by the lack of medicines, education, and food, Our purpose is to generate a positive impact on people's lives and support them in their development or recovery. Find the short- and long-term solution Provide people with the opportunity to develop academically through constant support from the organization Monitor the stock of medicine in the hospitals that the organization supports to ensure availability when patients need it Control and treatment of epidemics and widespread diseases: Contributing to the development of long-term medical plans provide prevention and restrict epidemics and diseases most prevalent in stages along with the process involved in the treatment of common diseases. ## **THE MAIN ACHIEVEMENTS OF THE ORGANISATION DURING THE PERIOD WERE:** Our aim is to also help the less fortunate to reach their potential within the different are in the area chosen to develop academically field, as we believe that this will increase better professionals within the county that they live the support of people with health problems or economic difficulties _3_ ## **Hearts in Education** ## **REPORT OF THE TRUSTEES (Continued)** ## **FOR THE YEAR ENDED 01 September 2021** ## **PLANS FOR THE FUTURE** We plan the construction of an orphanage in Venezuela for 55 children and continue the support of education and medicine as we have been doing. ## **FINANCIAL REVIEW** The Charity has generated **£0.00** in donations during the year ended **01 September 2021.** . There is no change from Year Ending 01 September 2017 **.** Hearts in Education aims to achieve its objectives through assisting in the provision of medical healthcare equipment, facilities, and services. We also aim to advance the education of the public by the provision of financial. The Charity will continue to develop its key programmes and seek their sustainability through fundraising and through self-generated income ## **RISKS** The factors that may affect the Charity’s delivery of its objectives include: - a) Reputation of Charity and the relationship with the community. b) Ability to generate enough funds to successfully complete the identified projects for the charity. Hearts in Education produces an annual plan for delivery against its objectives. This plan sets out the targets for the year and is then broken down to a work plan. Hearts in Education has developed a strategy, which specifies how it will deliver the key programmes of work. The strategy also identifies targets and performance indicators. ## RESERVES POLICY The Charity aims to build reserve which will enable it to meet its average annual operational need. The Trustees review the reserves held by the Charity on a regular basis to ensure that an appropriate level of funds are held to meet the above policy of the Charity going forward. ## GOING CONCERNS As at the date of approving the report and accounts, there are no uncertainties about the charity’s ability to continue as a going concern. _4_ ## **Hearts in Education** ## **REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 01 September 2021** ## **STRUCTURE, GOVERNANCE, AND INTERNAL CONTROL** ## **CHARITY ORGANISATION STRUCTURE** A Board of Trustees governs the Charity. New Trustees are selected by the Board of Trustees and are subject to re-election every five years. At **01 September 2021** , the Board had a membership of three people. ## **DECISION MAKING PROCESS** The trustee may delegate any of their power to any committee consisting of one or more trustees. They may also delegate to any managing director or any director holding any other executive office such of their power as they consider desirable to be exercised by him. Any such delegation may be made subject to any conditions the director may impose and, either collaterally with or to the exclusion of their own powers and may be revoked or altered. Subject to any conditions, the proceedings of a committee with two or more members shall be governed by articles regulating the proceedings of Trustees so far as they are capable of applying. ## **THE POLICIES AND PROCEDURES FOR THE INDUCTION AND TRAINING OF TRUSTEES** New Trustees are selected by the Board of Trustees and are subject to re-election every five years. As at **01 September 2021** , the Board had a membership of three people. All Trustees receive the handbook for Trustees’ provided through the Charity Commission. Each Trustee will have an induction programme by other Trustees and receive an information pack on the Charity and its finances. Beyond this, the Charity follows the code of practice for governance produced by the Governance Hub. ## **INTERNAL CONTROL SYSTEM** The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include: - **A strategic plan and annual budget approved by the Trustees;** - **Regular consideration by the Trustees of financial results, in particular variance from budget; and** - **Delegation of authority and segregation of duties.** _5_ ## **STATEMENT OF TRUSTEES RESPONSIBILITIES IN RESPECT OF THE TRUSTEES' ANNUAL REPORT AND THE FINANCIAL STATEMENTS** The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice). The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the excess of income over expenditure for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102) - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in its activities. In so far as the trustees are aware: - there is no relevant information of which the charitable company’s examiner is unaware; and - The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the examiner is aware of that information. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that its financial statements comply with the Charities Act 1993 as amended. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities. ## **THE ARRANGEMENTS FOR SETTING THE PAY AND REMUNERATION** The arrangements for setting the pay and remuneration of the charity’s key management personnel and any benchmarks, parameters or criteria used in setting their pay are determined by the trustees as the boards may think fit and appropriate. ## **WIDER NETWORK** The charity is not part of any umbrella group or affiliated to any umbrella group. _6_ ## **Hearts in Education** ## **REPORT OF THE TRUSTEES (continued)** ## **YEAR ENDED 01 September 2021** ## **DISCLOSURE OF INFORMATION TO EXAMINER** The trustees who held office at the date of approval of this trustees’ report confirm that, so far as they are each aware, there is no relevant information of which the Charity’s examiner is unaware; and each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/ herself aware of any relevant information and to establish that the Charity’s examiner is aware of that information. ## **EXAMINER** In line with the provision exemption in the Charities Act 1993 as amended, the trust opted to review the accounts internally and not appoint an external examiner, due to the lack of activity on the Charity’s accounts for the year ended 01 September 2021. Approved by the Board of Trustees and signed on behalf of the Board by: Marcia Antoniazzi Onefer Zubeldia Leo McKnight **Trustee 10/07/202** _7_ All of the above amounts relate to continuing activities. _8_ For the year ending **01 September 2021** , the Charity was entitled to exemption from audit under section 477(2) of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibility for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The Accounts was approved by the Board of Trustees and signed on behalf of the Board by: Marcia Antoniazzi Onefer Zubeldia Leo McKnight Trustees **10/07/2022** _9_ **Hearts in Education NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 01 September 2021** ## **1 ACCOUNTING POLICIES** ## **Basis of preparation** 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). ## **Cash flow statement** Under FRS 102 the Charity is exempt from the requirement to prepare a cash flow statement on the grounds permitted by this SORP specified in Section 7 of FRS102. ## **Going concern** The trustees have assessed the charity’s ability to continue as a going concern and there are no material uncertainties. ## **Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in Note 2. Investment income and gains are allocated to the appropriate fund. ## **Incoming resources** All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The grant income where related to performance and specific deliverables are accounted for as the Charity earns the right to consideration by its performance. Where income is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income being received, the income is accrued. ## **Resources expended** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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. - a) Premises overheads have been allocated on a floor basis and other overheads have been allocated on the basis of the head count. - b) Community project costs are those costs incurred directly in support of the objects of the Charity. The community project cost includes other support costs incurred in support of the objects of the Charity. _10_ - c) Governance costs are those incurred in connection with governance arrangement of the Charity, which relate to the general running of the Charity and compliance with constitutional and statutory requirements. The basis of allocation for support costs and governance costs has been explained in Note c) above. ## **Fixed assets** All fixed assets are initially recorded at cost. ## **Depreciation** The fixed assets are written down over their useful economic lives at the following rates Office equipment - 25% on cost ## **Pensions** The charity does not operate pension scheme as of **01 September 2021.** _11_ HEAR75 IN EDUCATION NOTES TO THE ACCOUP4TS FOR THÉ YEAR 01 2021 2. 2ry21 e3. Th￿e 4. 21 O)arity EqUtxr￿rt E¥trts &c*h￿ rdatedcrrts Irsur¥ OtFEr Tax PnttirvJ & stati(rny Rert Ret** uNiIti h￿e 5. Acc(xrtar e6. Re¥￿￿tI0Th DiSFKsal Bala￿e fryw¥tl Dispwl Tfdrtsf¥s &Ala￿e ftnya At30￿￿2￿ At 30 Wèrt*2017 12 Nrte 7. 2￿1 Ths is math LP a5 fc41ows: Note & Cash in harKI 2021 Cash at bar sh at harKI N(te 9. CreditLW5'. anwts falliry th willin 2021 TF¥s is m3(È LP as ftlkws: ACCI￿atr￿ Fees Othw cre(It(¥s ILts3nl Note 10. MIn￿rI￿rt in Okvirvj IrK(YThru RwJrce5 UrY&rirted fuTh ants Note 10.1 Arows of net assets 21 ur￿￿￿ttE￿I Resfyfj¢￿l T(tal FU￿15 F¢Jw Cash & l*nk arKI in harKI Othw net a55et5 Iliat¥litiesl Nrte 11. TRu￿EE$ REMJhERATII Tru*ees dd receive arml ￿Kk& ekpuse5 wffe paid (knryj the year12017.2021.. £Tr1 Note 12. A5 a (￿l￿3nY. RCCG ROYAL CFRisnAN CENTRE WALq4LL is frL¥n tax IrK£￿￿ aT¥J gairs falling within Secti￿ Taxes Art ¢y s256 rrf(hawtAe C£ins Act IyJ2 to the extent thai those are apwied to ts oLiett5. ￿ tax ha￿ in CuTP]Wry. Note 13. Contr The ￿lI￿e C(￿1[rO a￿ Jr•yc#s' as srataa rm p•Je Z Hearts in Education 13 ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 01 September 2021** ## **Note 8 TAXATION** Hearts in Education is a registered charity and is thus exempt from taxation of its income and gains falling within Section 505 of the Income and Corporation Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year. _14_