COMPANY REGISTRATION NUMBER: 09732928 CHARITY REGISTRATION NUMBER: 1167603
Amended Financial Statements
JO SHIRE MEMORIAL TRUST Company Limited by Guarantee Unaudited Financial Statements 31 December 2021
JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent Examiner’s Report | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021.
Reference and administrative details
Registered charity name JO SHIRE MEMORIAL TRUST Charity registration number 1167603 Company registration number 09732928 Principal office and registered 76 Ledbury Road office London W11 2AH
The trustees
Mr. A Venz Mr. E Venz Mr. M Bell (appointed on 22 September 2021)
Objectives and activities
a. Policies and objectives
The charity's objects are:-
a) the prevention of poverty and financial hardship, in particular in Kenya and India or other such parts of the world as the trustees may decide.
b) the advancement of education in particular in Kenya and India or such other parts of the world as the trustees may decide; to include the provision of appropriate buildings, facilities, equipment, training and financial support
c) the advancement of the Christian faith for the benefit of the public in particular in Kenya and India or such other parts of the world as the trustees may decide through the holding of prayer meetings, worship services and bible teaching.
The trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on public benefit by reviewing the Trust's aims and objectives and in planning future activities and setting the award making policy for the year.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
a. Review of activities
During the year the charity received donations of £352,325 (2020: £160).
Financial review
a. Going concern
The trustees are hoping to raise awareness of the charity through the use of social media and are looking into the possibility of raising money online in addition to seeking corporate donations. 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.
b. Reserves policy
It is the policy of the trustees to pay out the majority of funds as grants, while at the same time building up a small working capital reserve.
c. Financial performance
During the year the charity received donations of £352,325 (2020: £160), made £349,145 grants (2020: Nil) and incurred other expenses £2,383 (2020: £220). This resulted in net expenditure of £797.
Structure, governance and management
The Trustees present their annual report together with the financial statements of for the 1 January 2021 to 31 December 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounting accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 December 2021
The trustees' annual report and the strategic report were approved on 11 April 2022 and signed on behalf of the board of trustees by:
Mr. A Venz Trustee
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Independent Examiner’s Report
TO THE TRUSTEES OF JO SHIRE MEMORIAL TRUST
I report to the Trustees on my examination of the financial statements of Jo Shire Memorial Trust (“the Trust”) for the year ended 31 December 2021.
Responsibilities and basis of report
As the Trustees of the you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the 's financial statements carried out under section 145 of the 2011 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.
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 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.
Yogiji & Co
10 Littleton Crescent Harrow Middlesex HA1 3SX
Date: 11/04/2022
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 72,825 | 279,500 | 352,325 | 160 |
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| Total income | 72,825 | 279,500 | 352,325 | 160 | |
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| Expenditure | |||||
| Expenditure on charitable activities | 6,7 | 76,028 | 275,500 | 351,528 | 220 |
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| Total expenditure | 76,028 | 275,500 | 351,528 | 220 | |
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| Net income/(expenditure) and net | |||||
| movement in funds | (3,203) | 4,000 | 797 | (60) | |
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| Reconciliation of funds | |||||
| Total funds brought forward | (952) | – | (952) | (892) | |
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| Total funds carried forward | (4,155) | 4,000 | (155) | (952) | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 10 form part of these financial statements.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Statement of Financial Position
31 December 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 1,065 | 68 | |
| Creditors: amounts falling due within one year | 9 | 1,220 | 1,020 |
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| Net current liabilities | 155 | 952 | |
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| Total assets less current liabilities | (155) | (952) | |
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| Net liabilities | (155) | (952) | |
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| Funds of the charity | |||
| Restricted funds | 4,000 | – | |
| Unrestricted funds | (4,155) | (952) | |
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| Total charity funds | 10 | (155) | (952) |
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For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 11 April 2022, and are signed on behalf of the board by:
Mr. A Venz Trustee
The notes on pages 7 to 10 form part of these financial statements.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 76 Ledbury Road, London, W11 2AH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
1 Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2 Going concern
The trustees will continue to financially support the charity.
3 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
3. Accounting policies (continued)
4 Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
5 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
4. Limited by guarantee
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 14 August 2015.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 72,825 | 279,500 | 352,325 |
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| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 160 | – | 160 |
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| Expenditure on charitable activities by fund type | |||
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Technical Training Centre | 73,645 | 275,500 | 349,145 |
| Computer Expense | 900 | – | 900 |
| Support costs | 1,483 | – | 1,483 |
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| 76,028 | 275,500 | 351,528 | |
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| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Technical Training Centre | – | – | – |
| Computer Expense | – | – | – |
| Support costs | 220 | – | 220 |
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| 220 | – | 220 | |
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6. Expenditure on charitable activities by fund type
7. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly Support costs | 2021 | 2020 | ||
| £ | £ | £ | £ | |
| Technical Training Centre | 349,145 | 863 | 350,008 | – |
| Computer Expense | 900 | – | 900 | – |
| Governance costs | – | 620 | 620 | 220 |
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| 350,045 | 1,483 | 351,528 | 220 | |
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8. Trustee remuneration and expenses
During the period, no Trustees received any remuneration, benefits in kind or reimbursement of expenses.
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JO SHIRE MEMORIAL TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2021
9. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 500 | 300 |
| Other creditors | 720 | 720 |
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| 1,220 | 1,020 | |
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| **10. ** | Analysis of charitable funds | ||||
|---|---|---|---|---|---|
| Unrestricted funds | |||||
| At | At | ||||
| 1 January 202 | 31 December | ||||
| 1 | Income | Expenditure | 2021 | ||
| £ | £ | £ | £ | ||
| General funds | (952) | 72,825 | (76,028) | (4,155) | |
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| At | At | ||||
| 1 January 202 | 31 December | ||||
| 0 | Income | Expenditure | 2020 | ||
| £ | £ | £ | £ | ||
| General funds | (892) | 160 | (220) | (952) | |
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| Restricted funds | |||||
| At | At | ||||
| 1 January 202 | 31 December | ||||
| 1 | Income | Expenditure | 2021 | ||
| £ | £ | £ | £ | ||
| Restricted Fund 1 - desc in a/cs | – | 279,500 | (275,500) | 4,000 | |
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| At | At | ||||
| 1 January 202 | 31 December | ||||
| 0 | Income | Expenditure | 2020 | ||
| £ | £ | £ | £ | ||
| Restricted Fund 1 - desc in a/cs | – | – | – | – |
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11. Related party
During the period, the charity received donation of £50,025 from the trustees, A Venz and E Venz. A Venz has paid nil (2020:£720) towards accountancy fee during the year. The Trust owed £720 to A Venz.
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