Registered number: CE006255 Charity number: 1166556
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2022
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
| CONTENTS | ||
|---|---|---|
| Page | ||
| Trustees' Report | 1 - 3 | |
| Statement of Financial Activities | 4 | |
| Balance Sheet | 5 | |
| Notes to the Financial Statements | 6 - 13 |
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022
The Trustees present their annual report together with the financial statements of the DVA Bright Futures for the 1 September 2021 to 31 August 2022. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The purpose of the charity is to relieve the needs of people who have been victims of conflict from any source, for public benefit, relieving suffering, poverty, distress to build maintaining social cohesion & trust within our communities, in particular; providing advice, guidance, meditation, counselling, work experience, job placements for unemployed victims helping with recovery
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
DVA Bright Futures will reduce poverty by providing grants and assistance to those in need. DVA Bright Futures will continue advance humanity by creating awareness of social injustice.
c. Activities undertaken to achieve objectives
DVA Bright Futures has created public awareness of social injustice which has helped those impacted by poverty, suffering, distress and all types of conflict.
d. Main activities undertaken to further the Company's purposes for the public benefit
DVA Bright Futures has supplied funds to those impacted by poverty by supporting education programmes and helping in others in need. In addition, DVA Bright Futures helps those who been victims of conflict by providing support.
Achievements and performance
a. Main achievements of the Company
DVA Bright Futures has supported those in need in Thailand through grants which have helped underprivileged children to access education. DVA Bright Futures has helped all victims of terrorism and conflict by providing support and counselling.
In addition, DVA Bright Futures ensures every year that all our service users who suffered with mental health condition receive a special pocket organiser to improve their wellbeing.
Page 1
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
DVA Bright Futures is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Reference and administrative details of the Company, its trustees and advisers
Trustees Frederick Wayne Gruba (deceased 30 October 2021) Jonathan Ganesh (appointed 31 October 2021) Daoud Omar Aden (appointed 31 October 2021) Stephen Joseph Alpek Company registered number CE006255 Charity registered number 1166556 Registered office Bellerive House 3 Muirfield Crescent London E14 9SZ Accountants Deacons Chartered Accountants The Stables Shipton Bridge Farm Widdington Saffon Walden Essex CB11 3SU
Page 2
DVA BRIGHT FUTURES (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Jonathan Ganesh
Date: 31 May 2023
Page 3
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds 5 Other expenditure 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 16,010 13 16,023 - 1,820 1,820 14,203 (1,859) 14,203 12,344 |
Total funds 2022 £ 16,010 13 16,023 - 1,820 1,820 14,203 (1,859) 14,203 12,344 |
Total funds 2021 £ 750 16 766 1,785 5,725 7,510 (6,744) 4,885 (6,744) (1,859) |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 6 to 13 form part of these financial statements.
Page 4
DVA BRIGHT FUTURES (A Company Limited by Guarantee) REGISTERED NUMBER: CE006255
BALANCE SHEET AS AT 31 AUGUST 2022
| Note Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets / liabilites Total assets less current liabilities Net assets / liabilites excluding pension asset Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
- 34,040 34,040 (21,696) |
2022 £ 12,344 12,344 12,344 12,344 - 12,344 12,344 |
207 35,025 35,232 (37,091) |
2021 £ (1,859) (1,859) (1,859) (1,859) - (1,859) (1,859) |
|---|---|---|---|---|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ Jonathan Ganesh
Date: 31 May 2023
The notes on pages 6 to 13 form part of these financial statements.
Page 5
(A Company Limited by Guarantee)
DVA BRIGHT FUTURES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
1. General information
The entity is a private company limited by guarantee. The members of the comapny are the trustees and directors named on the Trustees' Report. The registered office is Bellerive House, 3 Muirfield Crescent, London, E14 9SZ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
DVA Bright Futures meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.3 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 allocated on the portion of the asset’s use.
Page 6
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.3 Expenditure (continued)
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.8 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 7
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted funds 2022 £ Donations 10 Legacies 16,000 16,010 |
Total funds 2022 £ 10 16,000 16,010 |
Total funds 2021 £ 750 - |
|---|---|---|
| 750 |
4. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Interest receivable | 13 | 13 | 16 |
Page 8
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
5. Expenditure on raising funds Costs of raising voluntary income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Fund raising expenses and governance costs | - | - | 1,785 |
6. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 2022 £ General fund 1,820 7. Analysis of expenditure by activities Support costs 2022 £ Support costs 1,820 |
Total 2022 £ 1,820 Total funds 2022 £ 1,820 |
Total 2021 £ 5,725 |
|---|---|---|
| Total funds 2021 £ 5,725 |
Page 9
(A Company Limited by Guarantee)
DVA BRIGHT FUTURES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Website costs Subscriptions Insurance Accountancy Legal & Professional fees Printing & Stationery |
Activities 2022 £ - - 206 1,506 - 108 1,820 |
Total funds 2022 £ - - 206 1,506 - 108 1,820 |
Total funds 2021 £ 2,040 400 613 2,059 613 - |
|---|---|---|---|
| 5,725 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) . During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL) .
9. Debtors
| Due within one year Prepayments and accrued income |
2022 £ - - |
2021 £ 207 |
|---|---|---|
| 207 |
10. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2022 £ 16,296 5,400 21,696 |
2021 £ 33,197 3,894 |
|---|---|---|
| 37,091 |
Page 10
(A Company Limited by Guarantee)
DVA BRIGHT FUTURES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
11. Financial instruments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 34,040 | 35,025 |
Financial assets measured at fair value through income and expenditure comprise cash at bank.
Page 11
(A Company Limited by Guarantee)
DVA BRIGHT FUTURES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
12. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Reserves Statement of funds - prior year Unrestricted funds General Funds - all funds Reserves |
Balance at 1 September 2021 £ - (1,859) (1,859) Balance at 1 September 2020 £ - 4,885 4,885 |
Income £ 16,023 - 16,023 Income £ 766 - 766 |
Expenditure £ (1,820) - (1,820) Expenditure £ (7,510) - (7,510) |
Balance at 31 August 2022 £ 14,203 (1,859) 12,344 Balance at 31 August 2021 £ (6,744) 4,885 (1,859) |
|---|---|---|---|---|
Page 12
DVA BRIGHT FUTURES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
13. Summary of funds
| Summary of funds - current year Balance at 1 September 2021 £ General funds (1,859) Summary of funds - prior year Balance at 1 September 2020 £ General funds 4,885 14. Analysis of net assets between funds Analysis of net assets between funds - current year Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Current assets Creditors due within one year Total |
Income £ Expenditure £ 16,023 (1,820) Income £ Expenditure £ 766 (7,510) Unrestricted funds 2022 £ 34,040 (21,696) 12,344 Unrestricted funds 2021 £ 35,232 (37,091) (1,859) |
Balance at 31 August 2022 £ 12,344 Balance at 31 August 2021 £ (1,859) Total funds 2022 £ 34,040 (21,696) 12,344 Total funds 2021 £ 35,232 (37,091) (1,859) |
|---|---|---|
Page 13