REGISTERED COMPANY NUMBER: 08640619 (England and Wales) REGISTERED CHARITY NUMBER: 1162401
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2020
for
Heathrow Community Initiative
QP Accountants Ltd 160 City Road Kemp House London EC1V 2NX
Heathrow Community Initiative
Contents of the Financial Statements for the Year Ended 31 August 2020
| 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 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
Heathrow Community Initiative
Report of the Trustees
for the Year Ended 31 August 2020
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 2020. 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 2015).
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
08640619 (England and Wales)
Registered Charity number
1162401
Registered office
32 New Heston Road Hounslow Middlesex TW5 0LJ
Trustees
H Sandhar N S Mann Ms N Daniels
Independent Examiner
QP Accountants Ltd 160 City Road Kemp House London EC1V 2NX
Approved by order of the board of trustees on 31 May 2021 and signed on its behalf by:
H Sandhar - Trustee
Page 1
Independent Examiner's Report to the Trustees of Heathrow Community Initiative
Independent examiner's report to the trustees of Heathrow Community Initiative ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2020.
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.
Mr Y Ali ACA QP Accountants Ltd 160 City Road Kemp House London EC1V 2NX
31 May 2021
Page 2
Heathrow Community Initiative
Statement of Financial Activities for the Year Ended 31 August 2020
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities School Other trading activities 2 Total EXPENDITURE ON Raising funds 3 Charitable activities School Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.8.20 Unrestricted fund £ 9,754 186,848 233,077 429,679 223,767 42,022 129,177 394,966 34,713 31,677 66,390 |
31.8.19 Total funds £ 1,909 120,895 105,250 228,054 70,435 25,706 82,000 178,141 49,913 (18,236) |
|---|---|---|
| 31,677 |
The notes form part of these financial statements
Page 3
Heathrow Community Initiative
Balance Sheet
31 August 2020
| CURRENT ASSETS 31.8.20 Unrestricted fund Notes £ Debtors 7 9,000 Cash at bank 96,043 105,043 CREDITORS Amounts falling due within one year 8 (38,653) NET CURRENT ASSETS/(LIABILITIES) 66,390 TOTAL ASSETS LESS CURRENT LIABILITIES 66,390 NET ASSETS/(LIABILITIES) 66,390 FUNDS 9 Unrestricted funds 66,390 TOTAL FUNDS 66,390 |
31.8.19 Total funds £ 9,000 59,435 68,435 (36,758) |
|---|---|
| 31,677 31,677 |
|
| 31,677 31,677 31,677 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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
Heathrow Community Initiative
Balance Sheet - continued
31 August 2020
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 31 May 2021 and were signed on its behalf by:
H Sandhar - Trustee
The notes form part of these financial statements
Page 5
Heathrow Community Initiative
Notes to the Financial Statements for the Year Ended 31 August 2020
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 2015)', 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.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
| Fundraising events Job retention scheme grant Fees received |
31.8.20 £ 895 5,257 226,925 233,077 |
31.8.19 £ 2,177 103,073 |
|
|---|---|---|---|
105,250 |
Page 6
continued...
Heathrow Community Initiative
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
3. RAISING FUNDS
| Investment management costs Property repairs 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Other operating leases |
31.8.20 £ 4,614 31.8.20 £ 94,833 |
31.8.19 £ 1,740 31.8.19 £ 82,000 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
The total amount paid in the year to trustees for expenses related to the charity amounted to £NIL (2019 £NIL).
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 1,909 |
| Charitable activities | |
| School | 120,895 |
| Other trading activities | 105,250 |
| Total | 228,054 |
| EXPENDITURE ON | |
| Raising funds | 70,435 |
| Charitable activities | |
| School | 25,706 |
| Other | 82,000 |
| Total | 178,141 |
| NET INCOME | 49,913 |
continued...
Page 7
Heathrow Community Initiative
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | ||||
| fund | ||||
| £ | ||||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | (18,236) | |||
| TOTAL FUNDS CARRIED FORWARD | 31,677 | |||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Other debtors | 9,000 | 9,000 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Trade creditors | (1) | (1) | ||
| Social security and other taxes | 222 | 93 | ||
| Other creditors | 23,416 | 23,200 | ||
| Net pay control | 6,016 | 4,466 | ||
| Accrued expenses | 9,000 | 9,000 | ||
| 38,653 | 36,758 | |||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.9.19 | in funds | 31.8.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 31,677 | 34,713 | 66,390 | |
| TOTAL FUNDS | 31,677 | 34,713 | 66,390 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 429,679 | (394,966) | 34,713 | |
| TOTAL FUNDS | 429,679 | (394,966) | 34,713 |
continued...
Page 8
Heathrow Community Initiative
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.9.18 in funds £ £ Unrestricted funds General fund (18,236) 49,913 TOTAL FUNDS (18,236) 49,913 |
At 31.8.19 £ 31,677 |
|---|---|
| 31,677 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 228,054 228,054 |
Resources expended Movement in funds £ £ (178,141) 49,913 (178,141) 49,913 |
|---|---|---|
| (178,141) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.18 | in funds | 31.8.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | (18,236) | 84,626 | 66,390 |
| TOTAL FUNDS | (18,236) | 84,626 | 66,390 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 657,733 657,733 |
Resources Movement expended in funds £ £ (573,107) 84.626 (573,107) 84,626 |
|---|---|---|
| (573,107) |
continued...
Page 9
Heathrow Community Initiative
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
11. ADDITIONAL NOTE
The company is Limited by guarantee and therefore has no share capital.
Page 10
Heathrow Community Initiative
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Other trading activities Fundraising events Job retention scheme grant Fees received Charitable activities Grants Total incoming resources EXPENDITURE Raising donations and legacies Wages Pensions Social security Investment management costs Charitable activities Other Other operating leases Support costs Management Rates and water Light and heat Telephone Carried forward Property repairs Insurance Sundries |
31.8.20 £ 31.8.19 £ - 9,754 1,909 9,754 1,909 895 2,177 5,257 226,925 103,073 233,077 105,250 186,848 120,895 429,679 228,054 214,343 68,695 1,038 3,772 - 219,153 68,695 8,568 7,886 94,833 82,000 34,343 15,705 6,677 1,013 2,547 51,061 9,224 4,614 1,740 3,840 1,450 4,728 6,436 |
|
|---|---|---|
This page does not form part of the statutory financial statements
Page 11
Heathrow Community Initiative
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 Management Brought forward Postage and stationery Finance Bank charges Human resources Governance costs Sundries Accountancy and legal fees Total resources expended Net income |
31.8.20 £ 31.8.19 £ 51,061 9,224 11,428 6,635 62,489 15,859 - 1 3,478 1,830 1,960 394,966 178,141 34,713 49,913 |
|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12