2021-03-31-accounts - The7stars Foundation

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Trustees’ Annual Report for the period

From 1[st] April 2020 Period start date To Period end date 31[st] March 2021

Charity name: The7stars foundation

Charity registration number: 1168240

Objectives and Activities

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SORP reference
Summary of the Para 1.17 THE OBJECTS OF THE CIO ARE:
purposes of the TO ADVANCE IN LIFE AND
charity as set out in its RELIEVE THE NEEDS AND
governing document SUFFERING OF CHILDREN, IN
SUCH WAYS AS THE TRUSTEES
MAY FROM TIME TO TIME
THINK FIT INCLUDING BUT NOT
BY WAY OF LIMITATION
THROUGH THE PROVISION OF
GRANT FUNDING TO CHARITIES
AND OTHER ORGANISATIONS
WORKING IN THIS FIELD
Summary of the main Para 1.17 and The7stars ran four grant
1.19
activities in relation to programmes with the funding
those purposes for the priorities of supporting young
public benefit, in people affected by
particular, the homelessness, abuse,
activities, projects or addiction and child carers.
services identified in Those grant programmes
the accounts. supported projects, charities
to purchase items which
promoted happiness and
wellbeing for the young people
they serve, breakfast clubs
across London and funding for
children supported by legal or
outreach workers.
Statement confirming Para 1.18 Confirmed
whether the trustees
have had regard to the
guidance issued by
the Charity
Commission on public
benefit
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Additional information (optional)

You may choose to include further statements where relevant about: SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

SORP reference The7stars ran four grant programmes with the funding priorities of supporting young Summary of the main Para 1.20 people affected by achievements of the homelessness, abuse, charity, identifying the addiction and child carers. difference the charity’s Those grant programmes work has made to the supported projects, charities circumstances of its to purchase items which beneficiaries and any promoted happiness and wider benefits to wellbeing for the young people society as a whole. they serve, breakfast clubs across London and funding for children supported by legal or outreach workers.

Additional information (optional)

You may choose to include further statements where relevant about:

Achievements against Para 1.41 objectives set

Performance of Para 1.41 fundraising activities against objectives set Investment Para 1.41 performance against objectives Other

Financial Review

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Review of the charity’s Para 1.21 Total funds carried forward at
financial position at 31 [st] March 2021 - £167,274.
the end of the period
Statement explaining Para 1.22 An annual contingency fund of
the policy for holding at least £20,000 is confirmed,
reserves stating why to ensure the running costs of
they are held the Foundation are covered.
Amount of reserves Para 1.22 A contingency balance of
held £81,123 has been held. Part
allocated to covering costs and
the rest to grants.
Reasons for holding Para 1.22 N/A
zero reserves
Details of fund Para 1.24 N/A
materially in deficit
Explanation of any Para 1.23 N/A
uncertainties about
the charity continuing
as a going concern
Additional information (optional)
You may choose to include further statements where relevant about:
The charity’s principal
Para 1.47
sources of funds
(including any
fundraising)
Investment policy and
Para 1.46
objectives including
any social investment
policy adopted
A description of the Para 1.46
principal risks facing
the charity
Other
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Structure, Governance and Management

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Description of charity’s
trusts:
Type of governing Para 1.25 Constitution
document
(trust deed, royal
charter)
How is the charity Para 1.25 CIO
constituted?
(e.g unincorporated
association, CIO)
Trustee selection Para 1.25 Trustee selection methods are
methods including such that the board are open
details of any to applications at any time
constitutional from individuals who feel they
provisions e.g. election bring appropriate
to post or name of any professionalism and passion to
person or body the organisation. Individuals
entitled to appoint one will be reviewed based on the
or more trustees skill set they can offer, and if
those skills are lacking within
the board. Currently the board
feels it is made up of a diverse
portfolio of skills and passions,
and so this is not of urgent
concern for us.
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Additional information (optional)

You may choose to include further statements where relevant about:

Policies and Para 1.51 procedures adopted for the induction and training of trustees The charity’s Para 1.51 organisational structure and any wider network with which the charity works Relationship with any Para 1.51 related parties

Other

Reference and Administrative details

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Charity name The7stars foundation
Other name the charity
uses
Registered charity 1168240
number
Charity’s principal Bush House - North West Wing, Floor 6-9, 57 Aldwych,
address London WC2B 4PJ
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Names of the charity trustees who manage the charity

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Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
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Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

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Trustee name Dates acted if not for
whole year
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Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of Name Address advise

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date

ci-rARI.'I'Y COMMISSION COPY FINANCIAL STATIMEI Tr4TS FOR THE YEARENDID 31 MARCH 2021 FOR THE7STARS f4OUNDATION GOLDWYNS CHARTERED ACCOUNTANTS 109 BAKEI R STREII T LONDON, WIU 6RP

THE7STARS FOUNDATION CONTENT OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Page Company information Report of the Trustees & Dlrectors Report.of the Independent Examiners statement of Financial Activities Balanc8Sheet NotES to the Financial Statement5 7-11

THE75TARS FOUNDATION COMPANY INFORMATION FOR THE PERIOD YEAR ENDED 31 MARCH 2021 TRUSTEES.. ANUSCHKA CLARKE (CHAIR) JENNY BIGGAM LIAM DAULLINS NICK MADDISON RHIANNON MURPHY HELEN ROSE REGISTERED OFFICE: 6-9 BUSH HOUSE NORTH WESTWING 57 ALDWYCH LONDON WC2B 4PJ INDEPENDENT EXAMINERS: MARTIN MYERS, FCA GOLDWfNS CHARTERED ACCOUNTANTS 109 BAKER STREET LONDON WIU 6RP BANKERS: BARCLAYS BANK PL LEICESTERSHIRE LE87 2BB CHARITY NUMBER: 1168240 Page 1

THE7STARS FOUNDATION REPORT OF THE TRUSTEES. FOR THE YEAR ENDED 31 MARCH 2021 The Trustees present thelr report and the financial statements of the charity for the Y&ar ended 31 March 2021. The Iruslees have adopted the provlslons of Ihe Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities. IFRS 102? In preparfng the annual report and finan¢i31 statements of the charity. Trustee5 of the charity The trustees who have s'ewed during the year and since the year end w819 as follows., ANUSCHKA CLARKE (CHAIR) JENNY BIGGAM LIAM MULLINS MARK JARVIS IResigned) NICK MADDISQN RHIANNON MURPHY HELEN ROSE Objectives and aGtivitiEs To reli8ve Ihg needs and suffering OF children aged 16 year5 old and under in particular those who face challenges caused by homelessness, addiction, abuse or who may be caTing for a sick or"disabled adult. Foundatlon statomont The7slars Foundation supports the most challenged young people (aged 16 years old and underl in the United Kingdom.In th8 yoar 2020-2021 the foun'dation's grant prograrntne made grants against our 4 pilars.. homeles5ll8ss. addiction, abuse and child rarers. New for 2D20-2021 the foundation's grant programme inlrodurEd an 'Anli Racism, pillar to provide funding for charitable oiganisalions dedicated to Gomballing racism. As well as providing grants to charitable organisaliDns, Ihe7stars Foundaliotj's pioneering grant programme (run in collaborgtion with Coram Chambers) 0rS financial support lo young individuals directly, has continL(ed to help young people this year, This grant programme is open to applications for funding from piofessional referees within the chlldcarelsodal se[Ce5, on behalf of a young person in need.Looking ahead. thg foundation will be Gontinuing Il's longer-terrrt funding to charitable organisalions, as well as project funding th* can offer immedia18 benefrt5 and long-term value. Publ1¢ beneflt statement The7StaT3 FDundation has tun a suGcesslul grant programme along the themes of 'homèlessness'. 'addlclion' 'abuse' and'child carers,. The trustees have had Tegard to the guidance. issued by the Charity Commission on putyli¢ benefit. Achievements and perfomiance The7Stars Foundation has awarded grants lo two charities to provide relief regarding abuse for young. people 8ged 16 years and under. two charities sUPPOrting chlld caors, and one charily"p.roviding seNices for young people aged 16 years and under who have experienced homelessness. Financial review lincluding reserves policy) A cDntingency balance of £81,123 has be&n held. Part allocated to covenng oosts and the rest to grdnts.. An annual contlngeney fund of at. least £20,000 Is confirmed. to ensure the running costs of the Foundalion are covered. Plans for future pèriods The Plan is to continue awardlny grants to provide rellef regarding abuse of young people aged 16 years and under. structure, governance and management The Charity is a charable Incorporated Organisation registered.on 15 July 2016. It Is governed by ils constitution. Page 2

THE7STARS FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 Appointment of Trustee$ Apart from the first charity trustees, every trustee musl be appointed by a resolution passed al a properly convened meeting of the charity Iruslees. In selecting individuals for appointment as charity Iruslees, the charity trustees musl have regard to the skills, knowledge and experien needed for the effective administration of the CIO. Rlsk Management The Charity is exposed to operational and financial risks as a result of ils operating activities. To mitigate these risks a system of internal controls ha5 been implemented that is designed lo provide reasonable (although not absolute} assurance against material misstslemenl. Trustees. responsibilities The trustees are responsible for preparing the Trustees. Annual Report and the financial stalemellts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the trustees to piepare financial statements for each linancial year which give a true and f81f view of the slate of affairs of the charity and of the incoming resources and applicatlDn of resources of the charity foi that period. In preparing these financial st2tements, the trustees are requiied lo". select suitable accounting policies and then apply them consistently., observe the method5 and principles in the Charities SORP2019 IFRS1021; make judgements and estimates that are reasonable and prudent.. stale whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the financial 51atement5 on the going concern basis unles5 It 15 inappropriate to presume that the charity will continue in operation. The tnjslees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities IA¢count5 and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the asse15 of the charity and hence for taking reasonable steps for the prevention and delecb.on of fraud and other irregularits'es. On behalf of the board JENNY BIGGAM Trustee Date Iililt Page 3

THE7STARS FOUNDATION INDEPENDENT EXAMINERS, REPORT TO THE MEMBERS OF THE75TARS FOUNDATION I report to the charity Iruslees on my examinats'on of the accounts. of the charity for the yeaT ended 31 March 2021 which are set aul on pages 510 11. Responsibilities and basis of report As the charity's trustees you are responsible fDr the preparation of the accounts in accordance. with the requirements of the CharTties Act 2011 l%he ACVI. I report in respect of my examination of th'e charity's accounts Caled out under section 145 of the Act and In carrying out my examination I have followed all the applicable DirECtions given by the Gharity Commission under section 14515){b} of the ACL Independgnt gxatningr's statement I have completed my examination. I confirm that no material matters-have come to rny allenlion in ronnertion with the examinatian giving me cause lo believe th* in any material respect accounting records were not kept in respect of the ¢harity as required by section 1.30 of the Acl-,'oi Ihe a¢counts do not eccord wlth those records., or the accounts do not comply with Iheapplicable requirements concernlng the fomi and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, whicfi Is not a matter considered as part of an independent examination. I have no toncems 8nd have come across no other matters in connection with the examination to which attention should be dtswn In this report In order to enable a proper understanding of the accoun15 to be reached. MARTIN MYERS FCA GOLDWYNS CHAR 109 BAKER STRE LONDON WIU 6RP RED AC NTANTS Page 4

THE7STARS FOUNDATlOhl STATEf44ENT OP FINANCIAL ACTIVITIES I INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Unrestricted Total Funds Restricted Total Funds TOTAL Income Incomlng resources from Gènerated tunds.:_ Investment income Incoming resources from Charitable actlvltle$ Grants, Don311ons elc 152,OS6 152,056 217,167 Total income 1S2,062 217,167 Expenditure Ch"aritable Activities 50,5.19 50,519 159,120 GoveTnance and Adminlstratlon of Chaftty Total resources expgnded 99,423 99,423 187.223 Net Incomel (Expendlture) 52,639 52,639 29,944 Net movements in funds 52,639 52,639 29.944 Total funds brought forward 167 274 137 330 Total fund5 GarTiEd fOard at31 March 2021 All incoming res.ourc8s and reso.urces expended derive from continuing activities. There were no.galns or losses r.ecognised during the y.ear. Page 5

THE7STARS FOUNDATION BALANCE SHEET 31 MARCH 2021 2021 2020 Notes FIXED ASSETS: Tangible assets CURRENT ASSETS: Prepayment & accrued income Cash al bank and in hand Debtors 141,290 81.123 126,995 44,079 9,000 222.413 180,074 CREDITORS: Amounts falling due within one year 2,500 12,800 NET CURRENT ASSETS 219 913 167 274 TOTAL ASSETS LESS CURRENT LIABILITIES: FUNDS OF THE CHARITh: Unrestricted Fund Restricted Fund io 11 219,913 167.274 For the year ended 31 March 2021 the charity was enlilled to exemption from audit under Charities Act 2011. The financial statements were approved by the Trustee5 on behalf by..

and were signed on their JENNY BIGGAM Chair Page 6

THE7STARS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Summary of significant accountin9 policies lal General inforniation and basis of preparation THE7STARS FOUNDATION is registered. as a Charitsble lricorporated Organisation in the United Kingdom. The address Df the registered office is given ill the charity information on page 1 of these financial statemenla. The nature of the charfty's operations and principal activiti6s ale to relieve the needs and suffering OF chlldren aged 16 years 2nd under. in particular those who face challenge5 caused by homelessness, addiction, abuse or who may be caring for a sick or disabled adult.. The ch2rity constitutes a public benefit entity as defined by FRS 102. The financial slalements have been prépared in accordance Mlh Accounting and Reporting by Chariti¢s.' Ststement of Recommended Praclic& applicable to charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from l Oclob8r 2019. The financial statements are prepared on a going concern basis. under tho hlstorical cost convention, modified la include certain item5.31 fair value. The financial statements are prepared In sledlng which is the functional currency of the charity. The significant accounting policies applied in the preparation of thesd financial statements are gel out below. These policies have boen consistently applied to all years presented unless otherwise slated. (bl Funds Unrestricted funds are available for use al the discretDn of the Irustees In furtherance of Ihe general objectives of the charity and which have not been designaled for other purposes. Designated funds comprise unT6Strieted funds that hav8 been set aside by the tnJstee8 for partIlar purposes. The aitn and use of each designated fund Is set out In the nolesto the fi'nancial 8tatements. Restricted funds are funds which are to be used In accordance with specffic restrlctions Imposed by donors 01 which have been raised by the charily for particu18r purposes. The cosl of raising and administering such funds are charged agalnsl the spe¢ifi¢ fund. The alm and use oteach restricted fund is sel out in the notes lo the financial slalements. Icl Incomo rocognition All Incomin9 respurces are Included in the Ststement of Flnancial Activitie5 ISOFAI when the charity is legally entiUe¢ lo the income after any perfomiance condllions have been meL the amount can be rneasured reliably and il is probable that the income will be recelved. For donatlons lo be recognlsed the charSly will have been notified of the amounts and the setllerrient date in writing. If there are conditions attached to the donation and this require5 a level Df performance before entitlement can be obtained then income 15 deferred until those conditions are fully met or the fulfilrnent of those conditions Is wthin the control of the charity and il is probable that they will be fulfilled. No amount is included In the. flnana81 statements for volunteer lirrie in line with the SORP IFRS'1021. (dl Expendlture recognltlon All expendliure is accounted for.on an accruals basis and has been classified under headings that aggregate all costs lated to the c81egory. Expendlture is reco9nised where there is a legal or constructive obligation to mgke payments lo third parties, It Is probable that the settlement Mll be required and the amounl of the obligation can be measured liablY Page 7

THE7STARS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Gran15 payable to third parties are within the charitable Dbjeclives. Where unconditional grants are offered. this is aGGrued as soon as the recipient is notified of the grant, as this gives rise lo a reasonable expectation that the recipient will reoeive the grants. Where grants are conditional relating to performan¢e then the grant is only accrued when any unfuMilled"condilions are outside of the control of the charity- el Support costs Support o05ts are Ih05e that as5isI the Work of the Gharily bul do not direGlly roprosenl charitable activities and include offiGg costs, governance costs, and Dther adminislralive costs.. They are incurred directly in support ol expenditure on the objects of the, charity. knere support cost& cannot be directly allributed lo particular headings they have been 211ocated lo cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. (fj Debtors and cr¢dltors re¢$ivabl• I payable within one year DebtotE and cradllors wllh no slated Interest rate and receivable. or payable wilhin one year are recorded at transaction price. Anylosses arising.from impairmentare recognised in expenditure. Ig) Impalrment Assets not measured at fair value are reviewed foT any indlcalion that the asset may be Impaired at each. balants sheet dale. If such indication exlsls, the recoverable atnounl of the asset, or the assel's cash generating unlt, Is eslimaled and compared to the carrying amount.. Where the carying amount exceeds ils recoverable amount, an impaiimenl loss is recognised in profit or loss unless the asset is. carried at a revalued amount where the imp8imienl loss is a revaluatlon decrease. Ih) Provlslons Provlslons are recognlsed when the charity has zn obligation at the balance sheet date as z restjlt of. a past event, 11 Is pmbable that an outflow of economic benefits will be required in setuement and the amount can be reliably estimated. lil Tax The charity is an exempt charity within th'e meaning of schedule 3 of the Charities Act 2011 and TS considered to pass the tests set Dul in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charilabb company for UK corporation tax purposes: til Going concern The financial slalomonts have begn prepared on a going. concern basis as the trustees believe that llo material uncartainlies exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from aulhorising these financial slalemenls. The budgeted income and expenditure is sufficient with tre level of resprves for the charlty to b6 able lo continue as a going COnr. Page 8

THE7STARS FOUNDATION STATEPJIENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 2. TOTAL RESOURCES EXPENDED 2021 2020 Unrestricted Total ReslriBled Total Funds TOTAL Charltable A¢tlvltl&s Donations.and.grants activities for .Young chlldren Charity events 50,519 50.519 111,041 50,519 50,519 159.120 Governance and Administration Accountancy fees Adminislralion Bank charges Trav81 2,500 2.520 18 Total Resource expended 28 The main funcHon21 activity of the Charity during the year was to relieve the needs and suffering of children aged 16 years and under In particular those who fa challenges caused by homelessness, addiction, abuse. or who may be (xrlng for. a sick or disabled adult. Average number of employees was - Ni5, work is done by Trustees and volunteers. No employoe received emoluments 05 £60,000. The Chaty did not have any paid employees during the year. The Trustees worked on a voluntary basis and recelved nu remuneration. TAXATION No liability to UK Corporation Tax arose on ordinary aGtivilies for the.year ended 31 March 2021. The" Charity is a registered Charity and is not liable to UK Corporation Tax. TRUSTEES The Charity paid no erriDlumenls lo the Truslees during the year. INDEPENLIENT EXAMINERS REMUNERATION The. independent exarniners remuneration amounts lo a fee of £2,500.

THE7STARS FOUNDATION NOTES TO THE FINANCIAL.STATEMENTS FOR THE YEAR ENDED 31 MARGH 2021 TANGIBLE FIXED ASSETS Furniture ment COST: BroLsghtforward 811 April 2020 Additions At 31 March 2021 DEPRECIATION: Brought foard al 1 Apr112020 Charge for period At 31 March 2021 NET BOOK VALUE: At 31 March 2021 DEBTORS.. AMOUNTS FALLING DUE VVITHIN ONE YEAR 2021 2020 Accrued incom2 & prepayment Other debtors 141,290 126,995 CREDITORS: AMOUNTS FALLING DUE MTHIN ONE YEAR 2021 2020 Accrued expenses & deferred income othei Creditors 2.500 3,800 9,000 COMPANY STATUS The Company 15 reglstered as a Charitable Incorporated Organisalion. 11 is 8 regisler.ed 'Charity (No. 17682401. Page 10

THE7STARS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 10. UNRESTRICTED FUNDS Balance Brought Movemenf in Year Balance Carried UnrestrKtftd Funds 167274 219913 Total 219 RESTRICTED FUNDS The Charity has no reslrlcted funds. 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Fixed Assets Net Current Total Unrestricted Funds 219913 219 913 219,913 219.913 RELATED PARTY DISCLOSURES The Charity is controlled by the Trustees and there is 'a Glose relationship with Ihe7stars UK Limited, a Gompany incorporated in England. Page11

ci-rARI.'I'Y COMMISSION COPY FINANCIAL STATIMEI Tr4TS FOR THE YEARENDID 31 MARCH 2021 FOR THE7STARS f4OUNDATION GOLDWYNS CHARTERED ACCOUNTANTS 109 BAKEI R STREII T LONDON, WIU 6RP

and were signed on their JENNY BIGGAM Chair Page 6