The Oddballs Foundation Company Number 09842464 Financial Statements For the period ended 31st October 2020
The Oddballs Foundation
Company Number 09842464 Financial Statements For the period ended 31st October 2020
| Page | ||
|---|---|---|
| Charity Information | 1 | |
| Report of the Trustee | 2 | |
| Statement of Trustee's Responsibilities | 3 | |
| Independent Auditors Report | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 |
The Oddballs Foundation Company Number 09842464 Financial Statements For the period ended 31st October 2020
Trustees
Stephen Alan Harper Dr James Douglas Stuart Paul Varley Richard Metcalfe Mr Anthony Mullarkey
Principal Office
Unit L3 Intersect 19 Tyne Tunnel Trading Estate North Shields NE29 7UT
Accountants
Thompson Accountancy Services (Sunderland) Limited 33 Mereknolls Road Roker Sunderland SR6 9LG
The Oddballs Foundation Company Number 09842464 Financial Statements
For the period ended 31st October 2020
The trustees present their report and financial statements of the charity for the year ended 31st October 2020
Registration
The charity was registered on 11th December 2015
Structure, Governance and Management
The charity was originally set up to further charitable work for the promotion and protection of and provision for, health including (but not restricted to) by: the provision of support, assistance and information to people affected, whether directly or indirectly, by all forms of cancer and, in particular testicular cancer; the promotion of research in to the nature, causes, diagnosis, prevention, treatment and cure of all forms of cancer and, in particular, testicular cancer.
Trustees
Details of the Trustees who have served throughout the year is given on page 1. The trustee members normally meet twice a year to discuss grant making and other matters arising.
Risk Management
The trustees have examined the main strategic, management and operational risk which the charity faces and confirms the systems are in place to enable regular monitoring to take place so that any necessary steps can be taken to mitigate those risks.
Financial Review and Investment Policy
The charity's expenditure exceeded its income for the year under the review by £21899. Donations amounting to £135047 were received over the reporting period.
There is no restriction on the charity's power to invest. The investment strategy is set periodically by the trustee to take accountant of the needs for funds and the maintenance of the value of the assets.
Reserves Policy
It is the charitys policy to hold reserves. The trustee has reviewed the policy on the level of reserves needed by the Trust. The trustee believes that the level of reserves is reasonable in current circumstances. However this policy will be reviewed on a regular basis.
Review of the year plans for future periods
The charity hope to raise awareness of testicular cancer, and make grants and donations for research and to relieve the suffering.
The Oddballs Foundation Company Number 09842464 Financial Statements For the period ended 31st October 2020
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Law applicable to charities in England and Wales requires trustees to prepare the financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the trustee is required to:-
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustee is responsible for keeping accounting records that disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. The trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed of behalf of the trustees
Mr P Varley 12th November 2020
The Oddballs Foundation Company Number 09842464 Financial Statements
For the period ended 31st October 2020
Independent examiner's report of the trustees of The Oddballs Foundation.
I report on the accounts of the Trust for the year ended 31st October 2020, which are set out on pages 5 to 8.
Respective responsibilites of trustees and examiner.
The charity's trustees are responsbile for the preparation of the accounts. The charity's trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibilty to:
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Examine the accounts under section 145 of the 2011 Act;
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To follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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To state whether the particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the general directions give by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts present with those records. It also includes consideration of any unusal items of disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements: to keeping accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act.
have not been met, or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr Andrew Thompson Managing Director Thompson Accountancy Services (Sunderland) Limited 33 Mereknolls Road
Roker Sunderland SR6 9LG
12th November 2020
The Oddballs Foundation Balance Sheet
For the period ended 31st October 2020
| Note Intangible Assets Intangible assets for use by the charity 5 Current Assets Bank and building society funds in hand Prepayments Debtors Current liabilities VAT Amounts falling due within one year Net Current Assets Total Assets less current liabilities Funds Unrestricted funds: General funds Total funds |
2020 2233 2233 34168 0 0 34168 -3855 0 -3855 38023 40256 40256 40256 |
2019 2303 |
|---|---|---|
| 2303 14064 0 0 |
||
| 14064 -1990 0 |
||
| -1990 16054 |
||
| 18357 | ||
| 18357 | ||
| 18357 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 the year ended 31st October 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2020 in accordance with Section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for:
(a) ensuring that the company keeps accounting records which comply with Section 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 company as at the end of each financial year and of its profit and loss 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 200 relating to financial statements, so far as applicable to the company
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st October 2020 in accordance with Section 444(2A) of the Companies Act 2006.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements were approved by the director on 8th November 2020 and were signed by:
Mr P Varley
The Oddballs Foundation Financial Statements For the period ended 31st October 2020
1. Accounting Polices
Basis of accounting:
The financial statements have been prepared under the historical cost convention and in accordance with the Charities Act 2011. They have also been prepared under FRS 102 as the applicable accounting standards and the 2017 version fo the Statements of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
Fund Accounting:
Unrestricted funds
Unrestricted funds represent unrestricted income that is expendable at the discretion of the trustee in the furtherance of the objects of the Charity.
Incoming resources
Planned giving receivable under Gift Aid is recognised only when received.
Income tax recoverable on Gift Aided donations is recognised when the donation is recognised. Investment income is accounted for in the period that is it entitled to the receipt.
Grants and legacies
Granst and legacies will only be recognised when the trustee is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt is confirmed.
Donations
Donations and all other receipts from fundraising are reported gross and the related fundraising costs are reported in other expenditure.
Gifs in kind and donated goods and facilites
Donated facilites would be included at their estimated value and the corresponding expenditure is included under the appropriate heading. Where the was no financial cost borne by another part for the provision of donated facilities (including donated services) then no income has been recognised.
Outgoing resources
Governance costs are those incurrec in the course and management of the charity in complying with statutory requirements and those of the governing document. Expenditure is included on an accruals basis.
Grants
Grants and donations are accounted for when paid over.
Investments
The charity has no investments other than funds held on deposit in UK Bank and Building Society accounts.
Current Assets
Any material amounts owing to the charity are shown as debtors and prepayments.
Bank and Building Society funds in hand are presented in the notes to the accounts.
The Oddballs Foundation Financial Statements For the period ended 31st October 2020
| 2. Governance and Support Costs Costs of charitable events Independent Examiner’s fees Subscriptions Advertising Awareness Guides Ultima-CYG Frames Legal expenses Donation Depreciation Printing/Postage and Stationery Insurance Software Costs Bank Charges Just Giving Charges |
2020 2019 89353 72102 0 0 0 0 0 0 7997 8129 0 0 0 0 15728 10590 70 70 0 0 0 0 0 413 0 0 0 0 113148 91304 |
2019 |
|---|---|---|
3. Staff costs
The charity pays no salaries or wages to any UK officials or volunteers.
| 4. Bank and Builidng Society Barclays Bank Plc Total 5. Intangible Assets Movements in the year Market Value - 1st November 2018 Purchase at cost less disposals carrying value Amortisation Market Value - 31st October 2019 |
2020 2019 34168 14064 34168 14064 2303 2373 0 0 0 0 -70 -70 2233 2303 |
2019 |
|---|---|---|
The Oddballs Foundation
Financial Statements For the period ended 31st October 2020
| 6. Current Liabilities Independent examiner fees Total |
2020 0 0 |
2019 | |
|---|---|---|---|
| 0 | |||
| 0 |
The Oddballs Foundation
Profit & Loss Account
For the period ended 31st October 2020
| 2020 | 2019 | |
|---|---|---|
| Sales | 135047 | 76504 |
| Costs per Schedule | 113148 | 91304 |
| Net Profit | 21899 | -14800 |