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 2023
for
Heathrow Community Initiative
QP Accountants Ltd 97 Shelley Crescent Hounslow TW5 9BH
Heathrow Community Initiative
Contents of the Financial Statements for the Year Ended 31 August 2023
| 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 2023
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 2023. 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 M Madraswala
Independent Examiner
QP Accountants Ltd 97 Shelley Crescent Hounslow TW5 9BH
Approved by order of the board of trustees on 31 May 2024 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 2023.
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 97 Shelley Crescent Hounslow TW5 9BH
31 May 2024
Page 2
Heathrow Community Initiative
Statement of Financial Activities for the Year Ended 31 August 2023
| 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/(DEFICIT) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.8.23 Unrestricted fund £ 25,837 209,360 330,889 566,086 352,022 81,223 129,160 562,405 3,681 44,031 47,712 |
31.8.22 Total funds £ 8,818 98,703 295,987 403,508 302,012 58,651 97,687 458,350 (54,842) 98,873 |
|---|---|---|
| 44,031 |
The notes form part of these financial statements
Page 3
Heathrow Community Initiative
Balance Sheet
| 31 August 2023 FIXED ASSETS Tangible assets CURRENT ASSETS 31.8.23 Unrestricted fund Notes £ 1,678 Debtors 7 9,000 Cash at bank 109,506 118,506 CREDITORS Amounts falling due within one year 8 (72,472) NET CURRENT ASSETS/(LIABILITIES) 46,034 TOTAL ASSETS LESS CURRENT LIABILITIES 47,712 NET ASSETS/(LIABILITIES) 47,712 FUNDS 9 Unrestricted funds 47,712 TOTAL FUNDS 47,712 |
31.8.22 Total funds £ 3,356 9,000 75,118 84,118 (43,443) 40,675 44,031 |
|---|---|
| 44,031 44,031 44,031 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
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
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(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 2023
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 2024 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 2023
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 |
31.8.23 £ - - 330,889 330,889 |
31.8.22 £ 240 - 295,747 |
|
|---|---|---|---|
295,987 |
Page 6
continued...
Heathrow Community Initiative
Notes to the Financial Statements - continued
for the Year Ended 31 August 2023
3. RAISING FUNDS
| Investment management costs Property repairs 4. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Other operating leases |
31.8.23 £ 1,172 31.8.23 £ 106,667 |
31.8.22 £ 2,677 31.8.22 £ 92,130 |
|---|---|---|
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
The total amount paid in the year to trustees for expenses related to the charity amounted to £NIL (2022 £NIL).
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 8,818 |
| Charitable activities | |
| School | 98,703 |
| Other trading activities | 295,987 |
| Total | 403,508 |
| EXPENDITURE ON | |
| Raising funds | 302,012 |
| Charitable activities | |
| School | 58,651 |
| Other | 97,687 |
| Total | 458,350 |
| NET INCOME | (54,842) |
continued...
Page 7
Heathrow Community Initiative
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
| 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 | 98,873 | |||
| TOTAL FUNDS CARRIED FORWARD | 44,031 | |||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.23 | 31.8.22 | |||
| £ | £ | |||
| Other debtors | 9,000 | 9,000 | ||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.8.23 | 31.8.22 | |||
| £ | £ | |||
| Trade creditors | (1) | (1) | ||
| Social security and other taxes | 7,079 | 1,845 | ||
| Other creditors | 23,663 | 23,415 | ||
| Net pay control | 32,731 | 9,197 | ||
| Accrued expenses | 9,000 | 9,000 | ||
| 72,472 | 43,443 | |||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.9.22 | in funds | 31.8.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 44,031 | 3,681 | 47,712 | |
| TOTAL FUNDS | 44,031 | 3,681 | 47,712 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 566,086 | (562,405) | 3,681 | |
| TOTAL FUNDS | 566,086 | (562,405) | 3,681 |
continued...
Page 8
Heathrow Community Initiative
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.9.21 in funds £ £ Unrestricted funds General fund 98,873 (54,842) TOTAL FUNDS 98,873 (54842 |
At 31.8.22 £ 44,031 |
|---|---|
| 44,031 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 403,508 403,508 |
Resources expended Movement in funds £ £ (458,350) (54,842) (458,350) (54,842 |
|---|---|---|
| (458,350) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.21 | in funds | 31.8.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 98,873 | (51,161) | 47,712 |
| TOTAL FUNDS | 98,873 | (51161 | 47,712 |
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 £ 969,594 969,594 |
Resources Movement expended in funds £ £ (1,020,755) (51,161) (1,020,755) (51,161) |
|---|---|---|
| (1,020,755) |
continued...
Page 9
Heathrow Community Initiative
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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 2023 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 |
31.8.23 £ 31.8.22 £ - 25,837 8,818 25,837 8,818- - 240 - 330,889 - 295,747 330,889 295,987 209,360 98,703 566,086 403,508 337,546 289,752 1,641 11,662 1,447 8,135 350,850 299,334 22,861 13,516 106,667 92,130 22,493 5,558 30,192 18,341 - 997 52,685 24,896 1,172 2,677 3,007 2,198 19,854 11,318 |
||
|---|---|---|---|
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 2023 Management Brought forward Postage and stationery Finance Bank charges Human resources Governance costs Sundries Accountancy and legal fees Total resources expended Net income |
31.8.23 £ 52,685 25,348 78,033 60 - 2,763 562,405 3,681 |
31.8.22 £ 24,896 24,621 49,517 156 - 1,020 458,350 (54,842) |
|
|---|---|---|---|
This page does not form part of the statutory financial statements
Page 12