Company Registration Number - CE006333
The Charity Registration Number is :- 1167085
The Paul Strank Charitable Trust
Report and Accounts
31 December 2022
C Charles & Co Limited
105 Seven Sisters Road, London N7 QR
The Paul Strank Charitable Trust
Report and accounts for the year ended 31 December 2022
Contents
| Page | ||
|---|---|---|
| Trustees' Annual Report | 1 | |
| Statement of directors' responsibilities | 0 | |
| Accountants' report | 10 | |
| Funds Statements:- | ||
| Statement of Financial Activities | 11 | |
| Movements in funds | 12 | |
| Balance sheet | 14 | |
| Notes to the accounts | 15 |
The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
The Trustees present their Report and Accounts for the year ended 31 December 2022, which also comprises the Directors' Report required by the Companies Act 2006.
Reference and administrative details
The charity name
The legal name of the charity is:- The Paul Strank Charitable Trust.
The charity's areas operation and UK charitable registration.
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1167085.
The charity does not operate in any overseas jurisdictions.
Legal structure of the charity
The charity is constituted as a company limited by guarantee, registered under the Companies Acts . The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation.
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation.
The trustees are all individuals.
The principal operating address, telephone number, email and web addresses of the charity are:-
22 Weir Road
Wimbledon
London
SW19 8UG
Telephone 020 8647 6110
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
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The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
The Trustees in office on the date the report was approved were:-
Paul Strank MBE Irene Strank
The following persons served as Trustees during the year ended 31 December 2022 :-
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
All the trustees are also members of the charity.
Objects and activities of the charity
The purposes of the charity as set out in its governing document.
The Paul Strank Charitable Trust has been set up to support disadvantaged families, with a focus on alleviating poverty, illness or other hardship for children. In doing so, we hope to bring some measure of relief, happiness & joy to those in our community desperately in need of compassion & support.
The main activities undertaken in relation to those purposes during the year.
The Trust's main focus in 2022 had been to continue to raise and grant as much as possible, mainly by way of holding our first fundraising charity event since before COVID - a Summer Party. Our last event had been our Charity Gala in 2019, and much had changed in the intervening three years. Venues we had been previously been considering had permanently closed, prices had gone up and many people's habits in socialising and going out to events had changed. We ourselves had gotten out of the practice of holding events, so we were all nervous. We held our Summer Party, kindly sponsored by our friends at Fuller Gilbert Estate Agents, at OURS restaurant in Kensington, and we had some fantastic acts including our wonderful host and Patron Shaun Williamson, Rob Lamberti, Antigoni, Mullally, Aleksandar Mileusnic and of course our superstar headline act: Blue. Thankfully the event was a big success, our guests had a great time and we raised more money than any previous Summer Party had managed to. It re-ignited our fundraising and set the stage for us to prepare for our first Charity Gala since COVID which we planned for 2023.
The Summer Ball helped raise £21,750 in ticket sales and £15,000 in sponsorship income. Later in the year, we held our annual Christmas Appeal, asking for donations and Toys for Shooting Star Children's Hospices. Between this and the Summer Party, we were able to donate £50,000 in 2022 to Shooting Star Children's Hospices as well as Toys and Christmas Trees. We also made smaller grants throughout the year to a variety of worthy causes including the Maggie Oliver Foundations, the Stroke Association, Carer's Support Merton, Haven House Hospices, the Thalassaemia Society, Level Water, Memory Lane Club and Homestart Merton.
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The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The Paul Strank Charitable Trust accepts grant applications from The London Borough of Merton and the wider UK and consideration will be given to all applications which could further our objectives. We receive hundreds of applications, and the number of projects we can support is necessarily limited to the funds available for distribution. The Trustees have determined that the priorities for funding will be young people, people facing hardship and the public, and in particular the focus will be to relieve need, hardship, sickness, handicap, and distress and amongst and/or disadvantaged persons.
All applications from previous recipients of grants or from previously unsuccessful applicants will be considered by the Trustees on their own merits. Although the Trustees will have regard to the outcome of the previous grant, any new application will in no way receive preferential or adverse consideration.
The Trustees wish to make grants to a wide range of organisations and are particularly keen to help grassroots community groups and small-to-medium-sized voluntary organisations in the primary areas of benefit. The charity will also make grants to individuals which will be assessed on a caseby-case basis. The Charity will willingly work in partnership with other organisations to fund initiatives beyond the financial scope of a single organisation to provide grants, items and services to individuals in need and charities or other organisations working to prevent or relieve poverty. The Trustees will not normally approve the use of the Charity's funds for purposes for which the government has a statutory responsibility to provide.
All grant applications will be subject to initial assessment to ensure they meet the basic criteria for funding. Grants will be considered by the Trustees at their meetings, due to the volume of applications received, we aim to respond to most applications but may not be able to in every instance. Applicants should note that the Charity always receives far more applications than it has funds to support. Even if a project fits within the criteria and priorities of the Charity and a detailed assessment has been made, the Charity may still be unable to provide a grant. The Trustees will not be obliged to provide an explanation to the applicant should their application be unsuccessful. It is the policy of the Trustees to monitor all grants made. To this end, before a grant can be confirmed, conditions may be stipulated appropriate to the work to be carried out and progress will be assessed against agreed targets and/or milestones. If the grant is payable in instalments, then payment of subsequent grant instalments will be dependent on satisfactory progress having been demonstrated and the Trustees reserve the right to withdraw the grant on receipt of unsatisfactory progress reports.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
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The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
The contribution of volunteers during the year.
We are lucky to have a large base of volunteers including Paul Strank Roofing Limited's staff who give up a lot of time throughout the year to make every event a success. Most of our volunteers have been with us for a long time and have helped on numerous events and include friends, family as well as council members, MP's, Lords & Ladies, business associates and generally people from all walks of life!
As always, we are extremely grateful to our sponsors, patrons, donors and supporters who make it all possible. Some have newly come aboard, while others have been supporting our work since before The Paul Strank Charitable Trust was even formed, but to each and every one of them we can only say a huge, huge thank you.
The main achievements and performance of the charity during the year.
Income for the year was £90,961 (2021: £127,533). Total expenditure amounted to £92,240 (2021: £98,468) for the year, of which a total of £56,970 (2021: £107,496) was paid out under our grant making policy.
The results for the year showed an excess of expenditure over income of £1,280 (2021: Excess of income over expenditure of £29,065). It is our policy for the Charity to break-even on its regular charitable activities however as noted below the Charity has adjusted this policy in response to the pandemic. The net funds and cash position at the end of the period remained strong and the trustees considered the overall financial position of the charity to be satisfactory.
As we are a fundraising and grant making charity, with restrictions and social distancing requirements now lifted we were able to broadly go back to our normal activities. Our regular spending commitments are extremely low, as there are no staff costs and things like premises costs (heating, lighting, internet etc.) are all covered by Paul Strank Roofing Limited, so the financial risk to the charity is almost non existent. As healthy reserve is kept only so that up front costs of the fundraising events can be paid before we need to sell tickets, get sponsors etc. COVID presented a challenge only insofar as preventing us holding events. Since the distancing policies are no longer in place, the only hangover from that situation is a change in people's social behaviours and general increased costs - both of which we have adapted to in the normal course of operating.
Reserves Policy
The total Charity's fund was £51,067 (2021: £52,347).
It is normally the policy of the charity to keep reserve funds of around £35,000 to maintain the charity's normal function. However, as the main function of the charity is to raise funds at events and then make grants, and as events were a challenge to host in 2022 the trustees decided that the funds would be better used making grants to worthwhile causes and charities than sitting in a bank account. Nevertheless, despite all the challenges presented the charity managed to maintain the reserve funds in excess of the limit set. We consider this is prudent to maintain the current functioning of the charity.
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The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
The degree to which the achievements and performance during the year have benefited wider society.
Our Summer event proved to be a fantastic success, with every guest having a thoroughly enjoybale evening. It is important to note that our fund raising activiites enable us to continue paying grants to worthwhile charities such as the Shooting Start Children's Hopices which provide a hug amount of support to terminally ill children and their families.
Setting pay and remuneration of key management personnel
None of the Trustees received any remuneration for their work during the year. Accountants C Charles & Co Limited
Financial review
The charity's financial position at the end of the year ended 31 December 2022
The financial position of the charity at 31 December 2022 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
| Total Funds Net income Unrestricted Revenue Funds available for the general purposes of the charity |
2022 £ (1,311) 51,036 51,036 |
2021 £ 29,065 52,347 52,347 |
|---|---|---|
Financial review of the position at the reporting date, 31 December 2022 .
Income for the year was £90,961 (2021: £127,533). Total expenditure amounted to £92,240 (2021: £98,468) for the year, of which a total of £56,970 (2021: £107,496) was paid out under our grant making policy.
The results for the year showed an excess of expenditure over income of £1,280 (2021: Excess of income over expenditure of £29,065). It is our policy for the Charity to break-even on its regular charitable activities however as noted below the Charity has adjusted this policy in response to the pandemic. The net funds and cash position at the end of the period remained strong and the trustees considered the overall financial position of the charity to be satisfactory. Also include, perhaps as an introductory comment, a statement to the effect :-
The trustees consider the financial performance by the charity during the year to have been satisfactory.
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The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
Policies on reserves.
The total Charity's fund was £51,067 (2021: £52,347).
It is normally the policy of the charity to keep reserve funds of around £35,000 to maintain the charity's normal function. However, as the main function of the charity is to raise funds at events and then make grants, and as events were a challenge to host in 2022 the trustees decided that the funds would be better used making grants to worthwhile causes and charities than sitting in a bank account. Nevertheless, despite all the challenges presented the charity managed to maintain the reserve funds in excess of the limit set. We consider this is prudent to maintain the current functioning of the charity.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
Plans For the Future
Summary of plans for the future and the trustees' perspective of the future direction of the charity.
Our plans for 2023 centred around holding our first main event - The Paul Strank Roofing Charity Gala - since before COVID. With four years since the last one it was a big deal for us and although we had already held a Summer Party we were somewhat apprehensive; particularly as we were holding it at a new venue as The Bank of England Sports Centre where we had held the previous 8 Charity Gala's was taken over and closed to private events. Luckily The Royal Garden Hotel in Kensington were extremely kind, and made the transition very smooth and the event was also a big success.
The charity is hoping that there will not be any further lockdowns in the future as these would severly hamper the schedule of events which the charity depends on to raise majority of its funds for the good causes it supports.
Details of The Independent Examiner
Nicholas Charles FCCA
Member of Chartered Certified Accountant
105 Seven Sisters Road
London
N7 7QR
6
The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
Statement of the Directors Trustees' Responsibilities
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Companies Act 2006, the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, the Companies Act 2006 and charity law require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-
-
to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
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select suitable accounting policies and 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 the going concern basis unless it is inappropriate to presume that the charity will continue in business;
-
state whether applicable accounting standards and statements of
recommended practice have been followed, subject to any material
departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
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The Paul Strank Charitable Trust
Company Registration Number - CE006333
Trustees' Annual Report for the year ended 31 December 2022
Method of preparation of accounts - Small company provisions
The financial statements are set out on pages 11 to 24.
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 27 October 2023.
PAUL STRANK MBE Director and Trustee
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The Paul Strank Charitable Trust
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 December 2022
I report to the Trustees on my examination of the financial statements of the charitable company on pages 11 to 24 for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 15.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described on page 0, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with Part 16 of the Companies Act 2006 and that no member or members have requested an audit pursuant to Section 476 of the Companies Act 2006. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. 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 setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
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The Paul Strank Charitable Trust
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
The accounts are being examined in the circumstances specified in Regulation 34(3)(b, and the date when the Charity Commission dispensed with the requirements for audit under Section Section 144(1) of the Charities Act 2011 (the Act) of the Act was :-
27 October 2023
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006 and Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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.
Signed:-
Nicholas Charles FCCA - Independent Examiner
Chartered Certified Accountant
105 Seven Sisters Road London N7 7QR
This report was signed on 27 October 2023
10
The Paul Strank Charitable Trust - Statement of Financial Activities for the year ended 31 December 2022
| Income & Endowments from: Donations & Legacies A1 Charitable activities A2 Total income A Expenditure on: Raising funds B1 Charitable activities B2 Total expenditure B Total funds brought forward Total funds carried forward Net movement in funds Net (expenditure)/income for the year SORP Ref |
Current year Unrestricted Funds 2022 £ 61,321 29,640 90,961 30,245 62,027 92,272 (1,311) (1,311) 52,347 51,036 |
Current year Restricted Funds 2022 £ - - - - - - - - - - |
Current year Total Funds 2022 £ 61,321 29,640 90,961 30,245 62,027 92,272 (1,311) (1,311) 52,347 51,036 |
Prior Year Total Funds 2021 £ 127,533 - 127,533 7,434 91,034 98,468 29,065 29,065 23,282 52,347 |
|---|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
The notes attached on pages 15 to 24 form an integral part of these accounts.
The Paul Strank Charitable Trust - Resources applied in the year ended 31 December 2022 towards fixed assets for Charity use:-
| Funds generated in the year as detailed in the SOFA Net resources available to fund charitable activities |
2022 £ (1,311) (1,311) |
2021 £ 29,065 29,065 |
|---|---|---|
11
Movements in revenue and capital funds for the year ended 31 December 2022
Revenue accumulated funds
| Accumulated funds brought forward Closing revenue funds Revenue accumulated funds Recognised gains and losses before transfers |
Unrestricted Funds 2022 £ 52,347 (1,311) 51,036 51,036 51,036 |
Restricted Funds 2022 £ - - - - - |
Total Funds 2022 £ 52,347 (1,311) 51,036 51,036 51,036 |
Last year Total Funds 2021 £ 23,282 29,065 52,347 52,347 52,347 |
|---|---|---|---|---|
12
The Paul Strank Charitable Trust
Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006
| Income Income from operations Refunds from HMRC on gift aided donations Total Income Gross income in the year including exceptional items Expenditure Charitable expenditure, excluding depreciation and amortisation Fundraising costs Governance costs Total expenditure in the year Tax on surplus on ordinary activities Retained (deficit)/surplus for the financial year Net income after tax in the financial year Net income before tax in the financial year Investment income |
2022 £ 87,443 3,518 90,961 90,961 57,465 30,245 4,562 92,272 (1,311) - (1,311) (1,311) |
2021 £ 127,533 - 127,533 127,533 87,500 7,434 3,534 98,468 29,065 - 29,065 29,065 |
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
The notes attached on pages 15 to 24 form an integral part of these accounts.
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The Paul Strank Charitable Trust - Balance Sheet as at 31 December 2022
| SORP | ||||||
|---|---|---|---|---|---|---|
| Notes | Ref | 2022 | 2021 | |||
| £ | £ | |||||
| Current assets | B | |||||
| Debtors | 6 | B2 | 14,850 | 8,531 | ||
| Cash at bank and in hand | B4 | 39,906 | 53,913 | |||
| Total current assets | 54,756 | 62,444 | ||||
| Creditors: amounts falling due within | ||||||
| one year | 7 | C1 | (3,720) | (10,097) | ||
| Net current assets | 51,036 | 52,347 | ||||
| The total net assets of the charity | 51,036 | 52,347 | ||||
| The total net assets of the charity are | funded by | the funds of the charity, | as follows:- | |||
| Restricted funds | - | - | ||||
| Unrestricted Funds | ||||||
| Called up share capital | - | |||||
| Share premium | - | - | ||||
| Unrestricted Revaluation Reserve | 10 | D4 | 51,036 - |
52,347 - |
||
| Unrestricted Revenue Funds | 10 | D3 | 51,036 | 52,347 | ||
| Total charity funds | 51,036 | 52,347 |
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 10.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
PAUL STRANK MBE
Trustee
Approved by the board of trustees on 27 October 2023
The notes attached on pages 15 to 24 form an integral part of these accounts.
14
The Paul Strank Charitable Trust
Notes to the Accounts for the year ended 31 December 2022
1 Accounting policies
Basis of preparation and accounting convention
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
Going Concern
The charitable activities are entirely dependent on continuing grant aid and voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods to 31 December 2023, the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainites about the charity's ability to continue as a going concern.
Risks and future assumptions
The charity is a public benefit entity.
Nature of 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. This includes income from fundraising events
Categories of Income
Income is categorised as income from trading activities and donations.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services to raise funds and is recognised when entitlement has occurred.
Income from 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.
15
The Paul Strank Charitable Trust
Notes to the Accounts for the year ended 31 December 2022
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Recognition of liabilities and expenditure
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated..
Liabilities arising from future funding commitments and constructive obligations, including performance related grants, where the timing or the amount of the future expenditure required to settle the obligation are uncertain, give rise to a provision in the accounts, which is reviewed at the accounting year end. The provision is increased to reflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, and reversed if any provision is no longer required. These movements are charged or credited to the respective funds and activities to which the provision relates.
Allocating costs to activities
Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
Expenditure is recognised in the period in which they are incurred. Expenditure on charitable activities include the costs of the fundraising and the events held for the community and the purpose of the charity and their associated support costs.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with an apportionment of overhead and support costs if applicable.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. However, the trustees value the significant contribution made to the activities of the charity by unpaid volunteers.
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
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The Paul Strank Charitable Trust
Notes to the Accounts for the year ended 31 December 2022
Creditors and provisions
Basic financial liabilities, including creditors 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.
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.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no endowment funds.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
4 Staff costs and emoluments
| Numbers of full time employees or full time equivalents The average number of total staff employed in the year was |
2022 - |
2021 - |
|---|---|---|
5 Remuneration and payments to Trustees and persons connected with them
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
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The Paul Strank Charitable Trust
Notes to the Accounts for the year ended 31 December 2022
| 6 Debtors 2022 £ Trade debtors 12,050 Prepayments and accrued income 2,800 14,850 7 Creditors: amounts falling due within one year 2022 £ Trade creditors - Accruals 3,720 3,720 8 Income and Expenditure account summary 2022 £ At 1 January 2022 52,347 (Deficit)/surplus after tax for the year (1,311) At 31 December 2022 51,036 9 Particulars of how particular funds are represented by assets and liabilities At 31 December 2022 Unrestricted Restricted funds funds £ £ Current Assets 54,756 - Current Liabilities (3,720) - 51,036 - At 1 January 2022 Unrestricted Restricted funds funds £ £ Current Assets 62,444 - Current Liabilities (10,097) - 52,347 - |
2021 £ 8,531 - 8,531 2021 £ 4,555 5,542 10,097 2021 £ 23,282 29,065 52,347 Total Funds £ 54,756 (3,720) 51,036 Total Funds £ 62,444 (10,097) 52,347 |
|---|---|
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The Paul Strank Charitable Trust
Notes to the Accounts for the year ended 31 December 2022
10 Change in total funds over the year as shown in Note 9 , analysed by individual funds
| Unrestricted and designated funds:- Unrestricted Revenue Funds Total unrestricted and designated funds Total charity funds |
Funds brought forward from 2021 £ 52,347 52,347 52,347 |
Movement in funds in 2022 £ (1,311) (1,311) (1,311) |
Funds carried forward to 2023 £ 51,036 51,036 51,036 |
|---|---|---|---|
11 Analysis of movements in funds over the year as shown in Note 10
| Unrestricted and designated funds:- Unrestricted Revenue Funds |
Income 2022 £ 90,961 90,961 |
Expenditure 2022 £ (92,272) (92,272) |
Movement in funds 2022 £ (1,311) (1,311) |
|---|---|---|---|
12 The purposes for which the funds as
Unrestricted and designated funds:-
Unrestricted Revenue Funds
These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation, are free from all restrictions on their use.
13 Ultimate controlling party
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
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The Paul Strank Charitable Trust
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
This analysis is classsified by conventional nominal descriptions and not by activity.
14 Donations, Grants and Legacies
| Donations, Grants and Legacies | ||||
|---|---|---|---|---|
| Current year Unrestricted Funds 2022 £ Donations and gifts from individuals 22,803 3,518 10,000 10,000 - 46,321 Current year Unrestricted Funds 2022 £ Sponsorship 15,000 15,000 Total Donations, Grants and Legacies Total Donations, Grants and Legacies A1 61,321 Christmas appeal Robin Ketteridge Shaun Williamson Fuller Gilbert Estate Agents Total donations and gifts from individuals Total sponsorship income Refunds from HMRC on gift aided donations Small donations individually less than £1000 |
Current year Unrestricted Funds 2022 £ 22,803 3,518 10,000 10,000 - 46,321 Current year Unrestricted Funds 2022 £ 15,000 15,000 |
Current year Restricted Funds 2022 £ - - - - - - Current year Restricted Funds 2022 £ - - |
Current year Total Funds 2022 £ 22,803 3,518 10,000 10,000 - 46,321 Current year Total Funds 2022 £ 15,000 15,000 |
Prior Year Total Funds 2021 £ 7,533 - - - 120,000 127,533 Prior Year Total Funds 2021 £ - - 127,533 |
| 61,321 | - | 61,321 |
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The Paul Strank Charitable Trust
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
15 Income from charitable activities - Trading Activities
| Current year Primary purpose and ancillary trading 16 Current year Total income from charitable trading Total from charitable activities A2 Total Income from charitable activities Auction Income Ticket Sales Total Primary purpose and ancillary trading |
Current year Unrestricted Funds 2022 £ 22,190 7,450 29,640 Current year Unrestricted Funds 2022 £ 29,640 29,640 |
Current year Restricted Funds 2022 £ - - - Current year Restricted Funds 2022 £ - - |
Current year Total Funds 2022 £ 22,190 7,450 29,640 Current year Total Funds 2022 £ 29,640 29,640 |
Prior Year Total funds 2021 £ - - - Prior Year Total Funds 2021 £ - - |
|---|---|---|---|---|
17 Expenditure on charitable activities- Grant funding of activities
| Current Year Total grantmaking costs B2c Grants made to organisations |
Current year Unrestricted Funds 2022 £ 56,970 56,970 |
Current year Restricted Funds 2022 £ - - |
Current year Prior Year Total Funds Total Funds 2022 2021 £ £ 56,970 87,500 56,970 87,500 |
|---|---|---|---|
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The Paul Strank Charitable Trust
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
| Current year Current Year Unrestricted Funds 2022 £ 50,000 Home Start Merton 500 Carers Support Merton 1,000 AFC Wimbledon 1,720 500 Just Giving 1,250 Memory Lane Club 500 Style for Stroke 1,000 Thalassaemia Society 500 56,970 Breakdown of Grants made to organisations Prior Year Prior Year Unrestricted Funds 2021 £ 83,000 Home Start Merton 1,000 Cypriot Community Centre 2,000 Memory Lane Club 500 Seed Eating Disorder Foundation 1,000 87,500 Shooting Star Children's Hospices Maggie Oliver Foundation Shooting Star Children's Hospices Breakdown of Grants made to organisations |
Current year Restricted Funds 2022 £ - - - - - - - - Prior Year Restricted Funds 2021 £ - - - - - - |
Current year Total Funds 2022 £ 50,000 500 1,000 1,720 500 1,250 500 1,000 500 56,970 Prior Year Total Funds 2021 £ 83,000 1,000 2,000 500 1,000 87,500 |
|---|---|---|
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The Paul Strank Charitable Trust
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
18 Support costs for charitable activities
| Current year Current year Current year Current Year Unrestricted Funds Restricted Funds Total Funds 2022 2022 2022 £ £ £ Financial costs 495 - 495 Support costs before reallocation 495 - 495 Total support costs - Current Year 495 - 495 The basis of allocation of costs between activities is described under accounting policies Bank and credit card charges |
Prior Year Total Funds 2021 £ - - - - - - |
|---|---|
All the expenditure in the prior year was unrestricted.
The basis of allocation of costs between activities is described under accounting policies
19 Other Expenditure - Governance costs
| Current Year Independent Examiner's fees Accountancy fees Total Governance costs |
Current year Unrestricted Funds 2022 £ 1,260 3,302 4,562 |
Current year Restricted Funds 2022 £ - - - |
Current year Total Funds 2022 £ 1,260 3,302 4,562 |
Prior Year Total Funds 2021 £ 1,194 2,340 3,534 |
|---|---|---|---|---|
All the expenditure in the prior year was unrestricted.
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The Paul Strank Charitable Trust
Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015
20 Total Charitable expenditure
| Current year Current Year Unrestricted Funds 2022 £ Total grantmaking costs B2c 56,970 Total support costs B2d 495 Total Governance costs B2e 4,562 Total charitable expenditure B2 62,027 All the expenditure in the prior year was unrestricted. |
Current year Restricted Funds 2022 £ - - - - |
Current year Total Funds 2022 £ 56,970 495 4,562 62,027 |
Prior Year Total Funds 2021 £ 87,500 - 3,534 91,034 |
|---|---|---|---|
| Prior Year Total grantmaking costs B2c Total Governance costs B2e Total charitable expenditure B2 |
Prior Year Unrestricted Funds 2021 £ 87,500 3,534 91,034 |
Prior Year Prior Year Restricted Funds Total Funds 2021 2021 £ £ - 87,500 - 3,534 - 91,034 |
|---|---|---|
21 Expenditure on raising funds and costs of investment management
| Current Year Agent's costs for fundraising Marketing & advertising of fundraising Costs of staging fundraising events Total fundraising costs B1 |
Current year Unrestricted Funds 2022 £ 216 5,365 24,664 30,245 |
Current year Restricted Funds 2022 £ - - - - |
Current year Prior Year Total Funds Total Funds 2022 2021 £ £ 216 216 5,365 - 24,664 7,218 30,245 7,434 |
|---|---|---|---|
All the expenditure in the prior year was unrestricted.
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