DocuSign Envelope ID: EC2FFAE2-C247-4A60-8B5C-CC8077ED1975DocuSign Envelope ID: 2E1D85B5-3B3F-4F9B-8D4F-7839636D7301
Charity registration number 1165530
INVESTORS IN COMMUNITY GIVING
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
DocuSign Envelope ID: EC2FFAE2-C247-4A60-8B5C-CC8077ED1975DocuSign Envelope ID: 2E1D85B5-3B3F-4F9B-8D4F-7839636D7301
INVESTORS IN COMMUNITY GIVING
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr A Vickerman Ms J Wright (Appointed 1 March 2021) Mr P Webb Charity number 1165530 Principal address 27 Willowgarth Road Chesterfield S41 8BL Independent examiner Knowles Warwick Audit Services Limited Charlotte House 500 Charlotte Road Sheffield S2 4ER
DocuSign Envelope ID: EC2FFAE2-C247-4A60-8B5C-CC8077ED1975DocuSign Envelope ID: 2E1D85B5-3B3F-4F9B-8D4F-7839636D7301
INVESTORS IN COMMUNITY GIVING
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 7 |
DocuSign Envelope ID: EC2FFAE2-C247-4A60-8B5C-CC8077ED1975DocuSign Envelope ID: 2E1D85B5-3B3F-4F9B-8D4F-7839636D7301
INVESTORS IN COMMUNITY GIVING
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their annual report and financial statements for the year ended 31 December 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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 objective of the charity is the promotion of the voluntary sector for the public benefit throughout the United Kingdom. This is done by the provision of financial, event creation and business consultancy.
The voluntary sector means charities and voluntary organisations. charities are organisations, which are established for exclusively charitable purposes in accordance with the law of England and Wales.
Voluntary organisations are independent organisations, which are established for purposes that add value to the community as a whole or to a significant section of the community and which are not permitted by their constitution to make a profit for private distribution.
Voluntary organisations do not include local government or other statutory authorities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The trustees who served during the year and up to the date of signature of the financial statements were:
Mr A Vickerman
Ms J Wright (Appointed 1 March 2021) Mr P Webb Mr W A Wilson (Resigned 31 August 2022)
The trustees' report was approved by the Board of Trustees.
.............................. Mr P Webb
Trustee
11/28/2022
Date: .............................................
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INVESTORS IN COMMUNITY GIVING
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF INVESTORS IN COMMUNITY GIVING
I report to the trustees on my examination of the financial statements of Investors in Community Giving (the charity) for the year ended 31 December 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Charities Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements 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 financial statements to be reached.
Knowles Warwick Audit Services Limited
Charlotte House 500 Charlotte Road Sheffield S2 4ER
Dated: .........................
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INVESTORS IN COMMUNITY GIVING
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 2 3,615 32,431 Other trading activities 3 827 - Investments 4 29 - Total income 4,471 32,431 Expenditure on: Charitable activities 5 6,079 31,161 Net (expenditure)/income for the year/ Net movement in funds (1,608) 1,270 Fund balances at 1 January 2021 25,680 22,187 Fund balances at 31 December 2021 24,072 23,457 |
Total 2021 £ 36,046 827 29 36,902 37,240 (338) 47,867 47,529 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
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INVESTORS IN COMMUNITY GIVING
BALANCE SHEET
AS AT 31 DECEMBER 2021
| Notes Current assets Cash at bank and in hand Net current assets Income funds Restricted funds Unrestricted funds The financial statements were approved by the Trustees on ......................... .............................. Mr P Webb Trustee 11/28/2022 |
2021 £ 47,529 |
£ 47,529 |
|---|---|---|
| 23,457 24,072 |
||
| 47,529 | ||
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INVESTORS IN COMMUNITY GIVING
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
Investors in Community Giving is an unincorporated charity, registered in England and Wales. The registered office is 27 Willow Garth Road, Chesterfield, Derbyshire, S41 8BL.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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INVESTORS IN COMMUNITY GIVING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations and legacies
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | ||
| 2021 | 2021 | 2021 | |
| £ | £ | £ | |
| Donations and gifts | 3,615 | 32,431 | 36,046 |
- 3 Other trading activities
| Unrestricted | |
|---|---|
| funds | |
| 2021 | |
| £ | |
| Membership subscriptions and sponsorships which are in substance a payment for goods and | |
| services | 827 |
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INVESTORS IN COMMUNITY GIVING
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
4 Investments
| Unrestricted | |
|---|---|
| funds | |
| 2021 | |
| £ | |
| Interest receivable | 29 |
5 Charitable activities
| Donations made Stripe fees Overheads Analysis by fund Unrestricted funds Restricted funds |
2021 £ 31,161 954 5,125 |
|---|---|
| 37,240 | |
| 37,240 | |
| 6,079 31,161 |
|
| 37,240 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Analysis of net assets between funds
| Unrestricted funds Restricted funds 2021 2021 £ £ Fund balances at 31 December 2021 are represented by: Current assets/(liabilities) 47,529 - 47,529 - |
Total 2021 £ 47,529 |
|---|---|
| 47,529 |
8 Related party transactions
There were no disclosable related party transactions during the year.
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