2021-03-31-accounts

COMPANY REGISTRATION NUMBER: 09526703

CHARITY REGISTRATION NUMBER: 1162422

MILLY GIVEAWAY

Company Limited by Guarantee Unaudited Financial Statements

31 March 2021

COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NW11 0PU

MILLY GIVEAWAY

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2021

	Pages
Trustees' annual report (incorporating the director's report)	1 to 3
Independent examiner's report to the trustees	4
Statement of financial activities (including income and expenditure
account)	5
Statement of financial position	6
Notes to the financial statements	7 to 12

MILLY GIVEAWAY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name MILLY GIVEAWAY

Charity registration number 1162422

Company registration number 09526703

Registered office New Burlington House 1075 Finchley Road London NW11 0PU

The trustees E K Allen G S Edwards J Maunder Independent examiner Cohen Arnold New Burlington House 1075 Finchley Road LONDON NW11 0PU

Structure, governance and management

Legal Status

The Charity was incorporated on 7 April 2015 and is governed by its Memorandum and Articles of Association.

Management

The Charity is run by the trustees who all act in an honorary capacity.

Risk management

The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems help reduce the exposure to risks.

Public Benefit

The Trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.

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MILLY GIVEAWAY

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Objectives and activities

The charity’s usual projects are:

Milly Days

We offer opportunities for those in need of some peace and living with difficulties day in and day out, a chance to recharge. It is often difficult for those leading challenging lives to break away for even a small amount of time, to relax and redress the balance of life. We would like to help with this.

We invite them to spend the day with us enjoying the countryside and other recreational activities.

Our guests enjoy many activities from boat rides, swimming, lawn croquet, tennis, through to just relaxing for the afternoon by the river.

Milly Giveaway

Milly Giveaway is a project that donates "Posh Waste" that would normally be headed for landfill and redirects it to appreciative charitable organisations.

COVID-19

Unfortunately, the Milly Days activity has been cancelled since the coronavirus outbreak. The Milly Giveaway activity had to be adapted. The charity’s main activity is now the provision of laptops for schools and food and essential items to food banks and shelters.

Achievements and performance

During lockdown the charity supplied laptops to schools to help children with home-schooling for those without access to devices. The charity also supplied food boxes and essential items as requested by food banks and shelters.

Financial review

As At 31 March 2021 the charity had £4,996 unrestricted funds.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 31 January 2022 and signed on behalf of the board of trustees by:

E K Allen

Trustee

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MILLY GIVEAWAY

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of MILLY GIVEAWAY

Year ended 31 March 2021

I report to the trustees on my examination of the financial statements of Milly Giveaway ('the charity') for the year ended 31 March 2021.

Responsibilities and basis of report

The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. 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.

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:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements 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

4. the financial statements 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.

David Goldberg, FCA DChA

Cohen Arnold New Burlington House 1075 Finchley Road LONDON NW11 0PU

31 January 2022

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MILLY GIVEAWAY

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

		2021		2020
		Unrestricted
		fundsTotal funds		Total funds
	Note	£	£	£
Income and endowments
Donations and legacies	5	39,070	39,070	38,598
		─────────	─────────	─────────
Total income		39,070	39,070	38,598
		═════════	═════════	═════════
Expenditure
Expenditure on charitable activities	6,7	35,815	35,815	34,770
		─────────	─────────	─────────
Total expenditure		35,815	35,815	34,770
		═════════	═════════	═════════
		─────────	─────────	─────────
Net income and net movement in funds		3,255	3,255	3,828
		═════════	═════════	═════════
Reconciliation of funds
Total funds brought forward		1,721	1,721	(2,107)
		─────────	─────────	─────────
Total funds carried forward		4,976	4,976	1,721
		═════════	═════════	═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 12 form part of these financial statements.

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MILLY GIVEAWAY

Company Limited by Guarantee

Statement of Financial Position

31 March 2021

		2021	2020
	Note	£	£
Current assets
Cash at bank and in hand		7,976	4,721
Creditors: amounts falling due within one year	12	3,000	3,000
		───────	───────
Net current assets		4,976	1,721
		───────	───────
Total assets less current liabilities		4,976	1,721
		───────	───────
Net assets		4,976	1,721
		═══════	═══════
Funds of the charity
Unrestricted funds		4,976	1,721
		───────	───────
Total charity funds	13	4,976	1,721
		═══════	═══════

For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

• The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 31 January 2022, and are signed on behalf of the board by:

E K Allen

Trustee

The notes on pages 7 to 12 form part of these financial statements.

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MILLY GIVEAWAY

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due, based on the net current asset position of the charity and available sources of finance.

The charity has low overheads and the Trustees have the ability to exercise control over the charity's charitable activities and to call on support from benefactors, such that the trustees believe the charity will continue as a going concern.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. No cash flow statement has been presented for the charity.

Judgements and key sources of estimation uncertainty

There are no judgements, estimates and assumptions that affect the amounts reported.

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MILLY GIVEAWAY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Fund accounting

General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity.

Restricted funds are funds subject to specific restricted conditions imposed by donors. There are no restricted funds as at the Balance Sheet date.

Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes. There are no designated funds as at the Balance Sheet date.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

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MILLY GIVEAWAY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Website

• 25% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

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MILLY GIVEAWAY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

4. Limited by guarantee

The charity is a company limited by guarantee and has no share capital. The liability of each trustee in the event of winding up is limited to £1.

5. Donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Donations
Donations	39,070	39,070	38,598	38,598
	═════════	═════════	═════════	═════════

6. Expenditure on charitable activities by fund type

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Recreational days and giveaway
activities	32,815	32,815	31,565	31,565
Support costs	3,000	3,000	3,205	3,205
	─────────	─────────	─────────	─────────
	35,815	35,815	34,770	34,770
	═════════	═════════	═════════	═════════

7. Expenditure on charitable activities by activity type

	Activities
	undertaken	Grant funding		Total funds	Total fund
	directly	of activities	Support costs	2021	2020
	£	£	£	£	£
Recreational days and
giveaway activities	10,117	22,698	–	32,815	31,565
Governance costs	–	–	3,000	3,000	3,205
	─────────	─────────	───────	─────────	─────────
	10,117	22,698	3,000	35,815	34,770
	═════════	═════════	═══════	═════════	═════════
Independent examination fees
				2021	2020
				£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements				3,000	3,000
				═══════	═══════

8. Independent examination fees

9. Staff costs

The average head count of employees during the year was nil (2020: nil).

No employee received employee benefits of more than £60,000 during the year (2020: nil)

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MILLY GIVEAWAY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

10. Trustee remuneration and expenses

There was no remuneration paid to the trustees. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity.

11. Tangible fixed assets

Tangible fixed assets
		User defined
		asset
		£
Cost
At 1 April 2020 and 31 March 2021		8,866
		═══════
Depreciation
At 1 April 2020 and 31 March 2021		8,866
		═══════
Carrying amount
At 31 March 2021		–
		═══════
At 31 March 2020		–
		═══════
Creditors: amounts falling due within one year
	2021	2020
	£	£
Accruals and deferred income	3,000	3,000
	═══════	═══════

12. Creditors: amounts falling due within one year

13. Analysis of charitable funds

Unrestricted funds

		At		At 31 March	At 31 March
	1	April 2020	Income	Expenditure	2021
		£	£	£	£
General funds		1,721	39,070	(35,815)	4,976
		═══════	═════════	═════════	═══════
		At			At 31 March
	1	April 2019	Income	Expenditure	2020
		£	£	£	£
General funds		(2,107)	38,598	(34,770)	1,721
		═══════	═════════	═════════	═══════

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MILLY GIVEAWAY

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

14. Analysis of net assets between funds

Analysis of net assets between funds
	Unrestricted	Total Funds
	Funds	2021
	£	£
Current assets	7,976	7,976
Creditors less than 1 year	(3,000)	(3,000)
	───────	───────
Net assets	4,976	4,976
	═══════	═══════
	Unrestricted	Total Funds
	Funds	2020
	£	£
Current assets	4,721	4,721
Creditors less than 1 year	(3,000)	(3,000)
	───────	───────
Net assets	1,721	1,721
	═══════	═══════

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