Charity number: 1169963
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SHARED UNIVERSE FOUNDATION
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TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
SHARED UNIVERSE FOUNDATION
CONTENTS
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| Reference and Administrative Details ofthe Charity, its Trustees and Advisers | 1 |
| Trustees’ Report | 2-3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| NotestotheFinancialStatements | 6-11 |
SHARED UNIVERSE FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020
Trustees Mr James Maurice Hill Mr Domonic Antony White Mrs Carolyn Downes
Charity registered number 1169963
Principal office Hyde Lodge Hyde Stroud Gloucestershire GL6 8NZ Accountants The Alanbrookes Group Ltd 24 Glove Factory Studios ds “Holt rs & i Wiltshire BA14 6RL
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SHARED UNIVERSE FOUNDATION
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TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their annual report together with the financial statements of the Shared Universe Foundation for the year 1 January 2020 to 31 December 2020.
a. Policies and objectives
The objectives of the charity remain as follows:-
To promote the conservation, preservation and protection for the benefit of the public of the rhinocerous and other endangered species in their natural environment and the ecosystems upon which they depend. To advance the education of the public by promoting understanding and knowledge of the rhinocerous and other endangered species and their conservation, preservation and protection.
To promote research into the conservation, preservation and protection for the benefit of the public of the rhinocerous and other endangered species.
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In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public.benefit: running a charity (PB2)'.
Achievements and performance
a. Main achievements of the Charity
Apart from financing the costs of compliance, the charity was all but dormant during the year due. No fund raising activities were undertaken and no disbursements made. At the time of writing, 2021 paints an identical narrative. We remain hopeful that the successful completion of the fundraising software app may prove fruitful once economic activity and international travel return to something like normal.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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
Any reserves at the year end are reviewed and are re-invested into the charity.
Structure, governance and management
a. Constitution
Shared Universe Foundation is a registered charity, number 1169963, and is constituted under the Charity Commission's model association CIO constitution.
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SHARED UNIVERSE FOUNDATION
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TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Statement of Trustees’ responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for“ each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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° select suitable accounting policies and then apply them consistently; ° observe the methods and principles of the Charities SORP (FRS 102);
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° make judgments and accounting estimates that are reasonable and prudent;
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° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees on 1 October 2021 and signed on their behalf by:
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SHARED UNIVERSE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2020 | 2020 | 2019 | ||||
| Note | £ | £ | £ | |||
| Income from: | ||||||
| Donationsand legacies | 3 | 550 | 550 | 4,956 | ||
| . Total income |
550 | 550 | 4,956 | |||
| Expenditure on: | ||||||
| Charitable activities | 4 | 561 | 561 | 1,225 | ||
| Totalexpenditure | . | ° | oe | « | 5B | 1,22 |
| Net movement in funds | (11) ee |
(11) ee |
3,731 eee |
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| Reconciliation offunds: | ||||||
| Total funds broughtforward | 7,057 | 7,057 | 3,326 | |||
| Netmovement in funds | (11) | (11) | 3,731 | |||
| 7,046 | 7,046 | 7,057 | ||||
| Totalfundscarriedforward | eee |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages6 to 11 form part of these financial statements.
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SHARED UNIVERSE FOUNDATION
BALANCE SHEET AS AT 31 DECEMBER 2020
| 2020 | 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Note | £ | £ | |||||||
| Fixed assets | |||||||||
| Current assets | |||||||||
| Debtors | 7 | - | 233 | ||||||
| Cash at bank and | in hand | 7,286 | 7,754 | ||||||
| 7,286 | 7,987 | ||||||||
| Creditors: amounts falling due within one | |||||||||
| - | year | ' | . | 8 | (240) | .. | (930) | ||
| Net current assets | 7,046 | 7,057 | |||||||
| Total assets less | current liabilities | 7,046 | 7,057 | ||||||
| Net assets excluding pension asset | 7,046 | 7,057 | |||||||
| Total net assets | 7,046 | 7,057 | |||||||
| Charity funds | |||||||||
| Restricted funds | 10 | - | - | ||||||
| Unrestricted funds | 10 | 7,046 | 7,057 | ||||||
| Totalfunds | 7,046 | 7,057 |
The financial statements were approved and authorised for issue by the Trustees on 01 October 2021 and signed on their behalf by:
Mr Ja aurice Hill
The X on pages6 to 11 form part of these financial statements.
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SHARED UNIVERSE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1, General information
The organisation is an incorporated charity registered in England and Wales. Its registered address is: Hyde Lodge, Hyde, Nr. Chalford, Stroud, Gloucestershire, GL6 8NZ
2: Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Shared Universe Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
- 2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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SHARED UNIVERSE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
2. Accounting policies (continued)
- 2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recogniséd when there is an obligation at the Balance Sheét date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2020 | 2020 | |||
| £ | £ | |||
| Donations | and | legacies | 550 | 550 |
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SHARED UNIVERSE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
3. Income from donations and legacies (continued)
Donations and legacies
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Unrestricted Total
funds funds
2019 2019
£ £
4,956 4,956
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4. Analysis of expenditure on charitable activities Summary by fund type
Other expenditure
Other expenditure
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Unrestricted Total
funds funds
2020 2020
£ E
561 561
Unrestricted Total
funds funds
2019 2019
£ £
1,225 1,225
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- Analysis of expenditure by activities
Other expenditure
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|;|Support|Total|
|costs|funds|
|2020|2020|
|£|£|
|561|561|
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SHARED UNIVERSE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
5. Analysis of expenditure by activities (continued)
Support Total costs funds 2019 2019 £ £ Other expenditure 1,225 1,225
6. Trustees’ remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2019 - £NIL).
During the year ended 31 December 2020, no Trustee expenses have been incurred (2079 - £NIL).
7. Debtors
2020 2019 £ £ Due within one year Prepayments and accrued income - 233 - 233
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SHARED UNIVERSE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
8. Creditors: Amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Trade creditors | - | 450 |
| Accruals and deferred income | 240 | 480 |
| 240 | 930 |
9. Financial instruments
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| tn | tn | tn | 2020 | 2019 | |
|---|---|---|---|---|---|
| £ | £ | ||||
| Financial | assets | ||||
| Financial | assetsmeasuredatfairvaluethroughincomeandexpenditure | 7,286 | 7,754 |
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SHARED UNIVERSE FOUNDATION
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
10. Statement of funds
Statement of funds - current year
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at | 1 | 31 | ||||
| January | December | |||||
| 2020 | Income | Expenditure | 2020 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General Funds- all funds | 7,057 | 550 | (561) | 7,046 | ||
| 11. | Analysis of netassets between funds | « | ’ | |||
| Analysis of net assets between funds - current period | ||||||
| Unrestricted | Total | |||||
| - | funds | funds | ||||
| 2020 | 2020 | |||||
| £ | £ | |||||
| Current assets | 7,286 | 7,286 | ||||
| Creditors due within one year | (240) | (240) | ||||
| Total | 7,046 | 7,046 | ||||
| Analysis of netassets between funds- | prior period | |||||
| Unrestricted | Total | |||||
| funds | funds | |||||
| 2019 | 2019 | |||||
| £ | £ | |||||
| Current assets | 7,987 | 7,987 | ||||
| Creditors due within one year | (930) | (930) | ||||
| Total | 7,057 | 7,057 |
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