REGISTERED CHARITY NUMBER: 1163645
Report of the Trustees and Unaudited Financial Statements for the Year Ended
31 July 2023 for The Green Hat Foundation
The Green Hat Foundation
Contents of the Financial Statements for the year ended 31 July 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Receipts and Payments | 4 |
| Statement of Assets and Liabilities | 5 |
| Notes to the Financial Statements | 6 |
| Detailed Statement of Financial Activities | 7 |
The Green Hat Foundation
Report of the Trustees for the year ended 31 July 2023
The trustees, present their report with the financial statements of the charity for the year ended 31 July 2023.
OBJECTIVES AND ACTIVITIES
The objectives of the charity are:
-
To relive financial hardship by supporting or providing education and training to the poor to help them create a better livelihood.
-
Develop technologies and innovations which help provide a better life for the poor.
-
Offer alternatives which disrupt traditional mechanisms driving wealth from the poor to the wealthy.
-
Educating the poor to be more resistant to exploitation and the wealthy to measure success more broadly.
-
Developing skills in the less well off and create work opportunities for them.
-
Undermining societal devices which transfer wealth to the wealthy with little value added.
-
Supporting organisations and entrepreneurs who do any of the above.
ACHIEVEMENT AND PERFORMANCE
Grants of £35,000 were granted during the year.
FINANCIAL REVIEW
Reserves policy
The trustees will endeavour to maintain cash reserves equal to at least 12 months' operating expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Green Hat Foundation, registered charity 1163645 (England & Wales), is a charitable incorporated organisation that operates under the rules of its Constitution dated 18 September 2015 and was registered with the Charity Commission on 18 September 2015 (“The Green Hat Foundation" or the "CIO").
All Executive Committee members are trustees. Trustees are unpaid volunteers.
Page 1
The Green Hat Foundation
Report of the Trustees for the year ended 31 July 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
(England and Wales) 1163645
Registered office
58 Mildway Road London N1 4NG
Trustees
Gerrit JE Quest Ian Quest Joel Harrison Lisa Draper Pamela Draper Peter Quest Sophie Dalling
Trustee Resignations
Independent examiner
Sarah Sharples FCCA FS Accountants Limited 2 York Street Clitheroe BB7 2DL
Approved by order of the board of trustees on ………….. and signed on its behalf by:
............................................. Ian Quest
Page 2
Independent Examiner's Report to the Trustees of The Green Hat Foundation
Independent examiner's report to the trustees of The Green Hat Foundation
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2023.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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
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
Sarah Sharples ACCA FS Accountants Limited 44 York Street Clitheroe BB7 2DL
Date ………………..
Page 4
The Green Hat Foundation
Receipts and Payments Account for the year ended 31 July 2023
| 31/07/23 | 31/07/22 | |||
|---|---|---|---|---|
| Total funds | Total funds | |||
| Notes | £ | £ | ||
| RECEIPTS | ||||
| Donations and legacies | 0 | 0 | ||
| Investment income | 2 | 40,405 | 39,258 | |
| Total | 40,405 | 39,258 | ||
| PAYMENTS | ||||
| Charitable activities | ||||
| Grant payments and supporting activities | 89,030 | 43,910 | ||
| NET (PAYMENTS) | (48,625) | (4,652) | ||
| RECONCILIATION OF FUNDS | ||||
| Balances brought forward | 151,034 | 155,686 | ||
| BALANCES CARRIED FORWARD | 102,408 | 151,034 |
Page 4
The Green Hat Foundation
Statement of Assets and Liabilities At 31 July 2023
| 31/07/23 | 31/07/22 | ||
|---|---|---|---|
| Total funds | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Property Held | 904,087 | 904,087 | |
| CURRENT ASSETS | 50,000 | ||
| Loan to East Learning | |||
| Cash at bank and in hand | 102,408 | 155,686 | |
| TOTAL ASSETS | 1,056,496 | 1,055,122 |
The financial statements were approved by the Board of Trustees on ………….. and were signed on its behalf by:
............................................. Ian Quest
Page 5
The Green Hat Foundation
Notes to the Financial Statements for the year ended 31 July 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements are prepared on a receipts and payments basis.
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.
2. INVESTMENT INCOME
| 31/07/23 | 31/07/22 | |
|---|---|---|
| £ | £ | |
| Deposit account interest | 44 | 299 |
| Income from investments | 40,361 | 38,959 |
| 40,405 | 39,228 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the year ended 31 July 2022.
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2023.
Page 7
The Green Hat Foundation
Detailed Information for the year ended 31 July 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Income from investments Total incoming resources EXPENDITURE Charitable activities Grants made Bank fees Legal & Professional fees Repairs Insurance Loan made Total resources expended Net (expenditure)/income |
31/07/23 £ - - 44 40,361 40,405 35,000 60 - 3,388 582 50,000 89,030 (48,625) |
31/07/22 £ - - 299 38,959 39,258 40,000 81 162 3,070 582 - 43,910 (4,652) |
|---|---|---|
Page 7