REGISTERED CHARITY NUMBER: 1164073
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2024
for
The Ellie Penrose Fund
Harris Lacey and Swain Suite 1 The Riverside Building Hessle East Yorkshire HU13 0DZ
The Ellie Penrose Fund
Contents of the Financial Statements for the Year Ended 31 October 2024
----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 to 8
Detailed Statement of Financial Activities 9
----- End of picture text -----
The Ellie Penrose Fund
Report of the Trustees for the Year Ended 31 October 2024
The trustees present their report with the financial statements of the charity for the year ended 31 October 2024. 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 2019).
OBJECTIVES AND ACTIVITIES
The charity provides sponsorship to young people aged 21 and under for equipment or kit for their sport. The charity was set up after the passing of Ellie Penrose in August 2015. Ellie was a keen amateur sportswoman and triathlete, competing for Great Britain only the month before she passed away. She died from multiple organ failure and systemic sepsis.
Ellie's moto on her Instagram page is "If you wait until you can do everything for everybody, instead of doing something for somebody, you will do nothing for nobody." Ellie's family want the charity to follow this by doing something for someone.
The aim of the charity is to help young people access sport who would otherwise not have the funds to purchase kit or equipment. Cash is not offered. The hope is that this promotes a healthy recreation for a young person.
ACHIEVEMENT AND PERFORMANCE
People we've helped this year include Indigo who needed help to purchase her fencing England kit to compete in New Zealand, Jessie who is a Harlequins hopeful, needed help with her rehabilitation after rupturing her ACL and hoping to get back to playing rugby, Hull Wyke U9's rugby team who we sponsored their polo shirts for their Rhinos challenge event.
FINANCIAL REVIEW
Reserves Policy
The charity holds reserves to cover the costs of expenditure should income dramatically fall. Currently the charity holds reserves for 12 months of expenditure totalling £4,515 (2023 - £2,068). The level of reserves are £134,308 (2023 - £137,653) at the end of the financial year.
FUTURE PLANS
The hope is that Ellie's Fund can help as many young people as possible, for many years to come, to achieve their sporting goals.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trustees of The Ellie Penrose Fund are the parents, siblings, and coach of Ellie. The Trustees liaise to consider every application made to the Fund. No recruitment of new trustees is envisaged.
None of the trustees are paid and all of the money raised goes directly to individuals requesting sponsorship. No other charities or organisations are involved.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1164073
Principal address
Eastgate House Newgate Street Cottingham HU16 4DZ
Page 1
The Ellie Penrose Fund
Report of the Trustees for the Year Ended 31 October 2024
Trustees
T R Penrose Mrs P A Penrose M Penrose O W Penrose Mrs G E Hildreth K Jackson
Approved by order of the board of trustees on 5 March 2025 and signed on its behalf by:
Mrs P A Penrose - Trustee
Page 2
The Ellie Penrose Fund
Statement of Financial Activities for the Year Ended 31 October 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,170 EXPENDITURE ON Charitable activities Grants to individuals 4,515 NET INCOME/(EXPENDITURE) (3,345) RECONCILIATION OF FUNDS Total funds brought forward 137,653 TOTAL FUNDS CARRIED FORWARD 134,308 |
2023 Total funds £ 1,197 2,068 (871) 138,524 |
|---|---|
| 137,653 |
The notes form part of these financial statements
Page 3
The Ellie Penrose Fund
Balance Sheet 31 October 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Debtors 4 63 Cash at bank 134,245 134,308 NET CURRENT ASSETS 134,308 TOTAL ASSETS LESS CURRENT LIABILITIES 134,308 NET ASSETS 134,308 FUNDS 5 Unrestricted funds 134,308 TOTAL FUNDS 134,308 |
2023 Total funds £ 135 137,518 137,653 137,653 137,653 137,653 |
|---|---|
| 137,653 137,653 |
The financial statements were approved by the Board of Trustees and authorised for issue on 5 March 2025 and were signed on its behalf by:
P A Penrose - Trustee
The notes form part of these financial statements
Page 4
The Ellie Penrose Fund
Notes to the Financial Statements for the Year Ended 31 October 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. 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.
Income received for services provided is accounted for on an accrual basis.
Donations, gifts and legacies are included in the income and expenditure as received. Any significant non-cash donations are included in the income and expenditure account at the trustees estimate of market value at the time received. The value of voluntary help is not included in the accounts.
Grants and other funding of a revenue nature are deferred and released to the income and expenditure account over the period to which they relate.
Bank interest is included in the income and expenditure account on an accrual basis.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from 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.
continued...
Page 5
The Ellie Penrose Fund
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Grants to individuals NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 5. MOVEMENT IN FUNDS At 1.11.23 £ Unrestricted funds General fund 137,653 TOTAL FUNDS 137,653 |
Unrestricted fund £ 1,197 2,068 (871) 138,524 137,653 2024 2023 £ £ 63 135 Net movement At in funds 31.10.24 £ £ (3,345) 134,308 (3,345) 134,308 |
|---|---|
continued...
Page 6
The Ellie Penrose Fund
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
5. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1,170 TOTAL FUNDS 1,170 Comparatives for movement in funds At 1.11.22 £ Unrestricted funds General fund 138,524 TOTAL FUNDS 138,524 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,197 TOTAL FUNDS 1,197 A current year 12 months and prior year 12 months combined position is as follows: At 1.11.22 £ Unrestricted funds General fund 138,524 TOTAL FUNDS 138,524 |
Resources Movement expended in funds £ £ (4,515) (3,345) (4,515) (3,345) Net movement At in funds 31.10.23 £ £ (871) 137,653 (871) 137,653 Resources Movement expended in funds £ £ (2,068) (871) (2,068) (871) Net movement At in funds 31.10.24 £ £ (4,216) 134,308 (4,216) 134,308 |
|---|---|
continued...
Page 7
The Ellie Penrose Fund
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
5. MOVEMENT IN FUNDS - continued
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 |
Incoming Resources resources expended £ £ 2,367 (6,583) |
Movement in funds £ (4,216) |
|---|---|---|
| TOTAL FUNDS | 2,367 (6,583) |
(4,216) |
6. RELATED PARTY DISCLOSURES
During the year £128 was paid to P Pensrose as reimbursement for expenditure paid for personally on behalf of the charity. (2023 - Nil)
Page 8
The Ellie Penrose Fund
Detailed Statement of Financial Activities for the Year Ended 31 October 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations |
2024 2023 £ £ 1,170 1,197 |
|---|---|
| Total incoming resources EXPENDITURE Charitable activities Sundries Grants |
1,170 1,197 128 - 4,387 2,068 |
| 4,515 2,068 |
|
| Total resources expended | 4,515 2,068 |
| Net expenditure | (3,345) (871) |
This page does not form part of the statutory financial statements
Page 9