Ch•rlty roglstratlon numb•r 1172161 Company roglstratlon number 092154081England and Wale•} THE SERENDIPITY FOUNDATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
THE SERENDIPITY FOUNDATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees V Sehgal R K Sehgal Charity numbèr 1172161 Company number 09215408 Reglitered offlco clo Union Property Sefvlces Ltd Cobalt 3. 1 Silver Fox Way Cobalt Business Pa Newcastle upon Tyne Tyne 8nd Wear NE27 oaJ Ind•p•nd•nt ox•mln•T Rob8on LaidlerAccounlants Limited Fernwood House Fernwood Road Je8mond Newcastie upon Tyne NE2 1TJ 8ank•rn National Weslminsler Bank PIC 16 Northumberfand Street Newcastle upon Tyne NE17EL
THE SERENDIPITY FOUNDATION LIMITED CONTENTS Pag• Truslee8' report Staternenl of trustees. responsibililies Independanl èxaminèrfs report Slalement of fin8ncig1 ectivrties St8t•ment of fin8nci81 position Notes lo the financlal 8t8lements 7-11
THE SERENDIPITY FOUNDATION LIMITED TRUSTEES, REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees present their annual Teport and financial slalements for the year ended 30 September 2023. The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 to the financial sialemenls and cornply with the charittys Artides of Association, th• Companies Act 2006 and "Accounting and Reporting by Charities.. Staternenl of Recommended Practice applicable lo charities preparing their accounts In accordance wth the Financial Reportlng Standard aFpIic8ble in the UK and Republic of Ireland IFRS 1021" leffects've 1 January 20191. Objectives and actlvltlos Oblecllves and alms The charity is established for the benefit of the public in tha UK and India wlh the follo¥Mng aims and objects'ves.. to preserve and protect good health to relieve financial hardship - to advance education - to promote humane b8haviour towards anlmals The charity achieves this through the provlslon of grants to registered charities and other org8nisalion8 established lo carry c)ul the above activities, Publlc bonollt The Iruslees confirm that they have referred lo the guidance contained in the Chanly Commission's general guidance on public benefit when reviewing the Tru¥l's gims and oblectlves and in planning future activllie8. Volunteers Th8 company Is not dependent upon voluntary helpèr8. Achlevement¥ and perfomiance Flnanclal revl¢w Flnanclal posbtlon During the year lo 30 September 2023 the charily receivèd income lolalSing £28,40012022'. £101,200) and incurred expenditure of £121,621 12022.. £23,716) leaving the overall deficit for the year al £93,221 12022.. surplus £77,484). Total free reserves lor use by the charity at 30 Septembèr 2023 stood al £67,030. Prlnclpal fundlng Sources The company's income consists of ad hoc donations from individuals and bu¥ing$888. Re9•Thes pollcy The charity maintains reserves of al least £3,000 vthich the trustees consider 18 8ufficient to cover the charity's adminlstralive expendilure for a period of at least 12 mgnlhs.
THE SERENDIPITY FOUNDATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEAIBER 2023 Structure, governance and management Governing document The Serendipity Foundation Limited is è eompany limited by guarantee, ineorporaled on 12 September 2014, and its governing document is ils Articles of Association (amended by sperAal resolution registered at Companies House on 18 Marth 20171. It registered as a charity wlh the Charitiès Comml88lon on 20 March 2017. R•crultm•nt •nd appolntm•nt of new trustees From time lo time il is necessary for the eharfty lo reerult nèw Iruslees to replace those that have either resigngd during their lemi of office. or by w8y of anlicipaling planned retirements, after the completion of a single term. en a vacancy occur5, the Board wll delerrnine the mlx of skllls and experience needed so as lo ensure a fully functioning team of Irusltts and will seek lo identify individuals who appear to have the qualili8s and interest in what we do. Oryanllatlonal itructurn The Iruslee8 meet on a regular basis lo admlnlsler all maller8 in re6pecl of the charity including the payment of donations. Rl•k managément The ITu8lees have a duty to identify and review the risks to which the chadty18 exposed and to ensure appropriate control8 ale in place to provide reasonable assurance against Iiaud and error. Share capltal The company l¥ limited by guar8nlee ond does not have a 8hare capital. This report has been prepared In accordance wlh the 5PèCI81 provisions of Part 15 of the Companies AGI 2008 relating lo small companies. TruBt•e•lDlr•ctorn V Sehgal R K Sehgal The InJ8t8e8' report was approvéd by the Board of Trustees. V•*¢ V Sehgal Trustsfj Dale..
THE SERENDIPITY FOUNDATION LIMITED STATEMENT OF TRUSTEES. RESPONS181LITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023 The trustees, who are also the directors of The Serendipity Foundotion Limited for the purpose of company law, are responsible for preparing the Trustees, Report 8nd the financial sialements in accordance with applicable law and Unite(l Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law require5 the Iru$lees to prepare financial statements for each finandal year which give a true 8nd fair view of the stale of affairs of the chanly and of the incoming resources and application ol resources, including the income and expenditure. of the charit8ble company for that year. In Preparing these financial statemènts, the Iru8tee8 are required to.. select suitable accounts'ng policies and than apply them conslslenuy., observe the method5 and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent., Slate whether applicable UK Accounllng Standards have been foll¢)wed, subject to any matèrial dopartures disclosed and explaingd in the flnancial 81alemenl$', and prepare the finanry81 $lalemenls on the going concem basis unless it is inappropriate lo presume th81 the charfly will continue in operation. The Iruslees are responsible lor keeping adequate accounting records that disclose wlh reasonable accuracy al any time the f5nancial poyilion of the charity 8nd enable Ihern lo ensure that the linanciol slatèm8nls comply wlh the Companies Act 2006. They are al80 re8pon8iN8 for safeguarding the assets of the Gharity and hence for taking reasonable steps for the prevenllon and detection of fraud and other irregularilie¥.
THE SERENDIPITY FOUNDATION LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SERENDIPITY FOUNDATION LIMITED I report lo the trustees on my examination of the ffnancial slalements of The Serendipity Foundallon Llmiled (the charilyl for the year ended 30 September 2023. Re$ponslbllltles #nd basls of report As th8 Iwslee6 of the charity land also rts directors for the purposes of company lawl you are regponslble for the preparalien of the financlal 51alemen15 in accordance wth the requirements of the Companies Act 2006 Ilhe 2008 Acll Having satisf18d myself that the financial s181emenls of the tharily are not required to be audited under Part 16 of the 2008 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slalemenls carried out under section 145 of the Charities Act 2011 (the 2011 Acl}. In carrying out my examlnation I have follow&d all the applicable Directions given by the Charily Commission under seth'on 145{5llbl of the 2011 Act. Ind•p•ndont examIneI 8tatem•nt I h8ve completed my examination. I confirm that no matters have come to my 8ttenllon In connecllon with the examlnallon giving me cause lo belleve that in 8ny material respect.. accounting records werè not kept in respect of the charity as required by 8eth.on 386 of the 2006 Act.. or the financial slalemenls do not accord with those records,. or the financial statements do nol comply with the accounting requlrements of secticn 396 of the 2006 Act other than any requirement Ihal the accounts give 8 true and fair view which is not a maller considered as part of an independent examin81ion', or the financial stalomenls have not been prepared In accordance with the methods and principles of Ihe Stglemenl of Recommended Practice for accounting gnd reporting by charities applicable lo charllie8 preparing their accounts in accordance wilh the Flnancial Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021. I have no concern$ and have come across no other rnatters in connection with the examinallon lo which 811enllon Should be drawn in this report in order lo enable a proper und&rglanding of the fingnryal slaternents lo be reached. P•t•r charl Bsc FCA Robson Laldlor Accountants Llmlt•d Femwood House Femwood Road Jesmond Newcastle upon Tyne NE2 1TJ Dated..
THE SERENDIPITY FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Current fbnanclal ywar Unro8trfci•d funds 2023 Total Total 2023 2022 Notes Incom• from.. Donations and legacies 28,400 28.400 101,200 Iture Charitabl& acb'vitses 121,621 121,021 23,716 Net lexp•ndltur•llln¢ome for thè y•arl Net movement In fund 193,2211 193.2211 77.484 Fund balance8 al 1 October 2022 160,251 160,251 82.767 Fund bal•ncv at 30 September 2023 67,030 87,030 160,251 The slalemenl of nanCIal aclivltl•s indudeB all golns gnd IosseB recognised in the year. The slalement of financial activlties indud88 all gains and losses recogni5ed in the year. All income and expenditure dertve from continuing activities. The stslement of fin8ncial actlvllles also complies with the requlr8menls lor an Income and expenditure account under the Companies Act 2006. Prlor flnanclal year Unrestrlctod funds 2022 2022 Not•s ncom Donations and legacies 101,200 101,200 Ex endlture on: Chanlable aclivilie8 23,716 23.716 Net lexpendlture}Ilncomè for the yearl Net movement in funds 77,484 77,484 Fund balances al 1 October 2021 82,767 82,787 Fund balanc•s at 30 September 2022 160.251 160.251
THE SERENDIPITY FOUNDATION LIMITED STATEMENT OF FINANCIAL POSITION AS AT30 SEPTEMBER 2023 2023 2022 Notes Curr•nt a880ts Cash 8t bank 8nd in hand 67,677 160.899 Cr•dltors'. amounls tslllnu duo wlthln on• y•ar 16471 {6481 Net ¢urrent 4¥yets 67.030 160,251 Not •ssots excludlng p•n•lon Ilablllty 87,030 160,251 The funds of the charlty Unre5tricled fund8 67,030 160,251 67.030 160,251 The companyls entitled lo the exempllon from the 8udil requlremenl cont8lned In Bection 477 of the Companies Act 2006, for the year ended 30 September 2023. The dlrectcrs acknowtedg8 thèir r6sponsibililie5 for complying with the requiremen16 of the Companles Act 2006 wlth respect lo accounllng records and the preparation of financial statements. Th8 member8 h8ve not requlred the company lo oblaln an audlt of Ill finandal Slalements foT the year In qu•slion in accordance with section 476. These fi'nancial statements have ljeen prepared in accordance with the provlslons applicable lo companies Buty'ect lo the small Companies regime. The finanaal statements were approved by the Iruslees on ... V& V Sehgal Trustee Company Tegi5tralion number 09215408 (England and Walesl
THE SERENDIPITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng pollcSeB Charbty Infomiation The Serendipity Foundatlon Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is clo Union Property Services Ltd, Cobalt 3.1 Silver Fox Way, Cobalt Business Park, Newcastle upon Tyne, Tyne and Wear, NE27 OQJ. 1.1 Accountlng conventlon The financial $lalemenls have been prepared in accordance with the charty's Memorandum and Artides of A8gociation, the Companies Act 2006. FRS 102 The Fin8nci81 Reporting Slandard applicable In the UK and Republic of Ireland. l FRS 102,1 and the Charities SORP "Accounting and Reporting by Chari1185'. Slalemenl of Recommended Practice applicable to charities preparing their accounts in ardance wth the Financial R&po.n9 Slandard appIlble in the UK and Republic of Ireland IFRS 1021" leffecllve 1 January 20191. The charlty 18 a Public Benefit Enllty as defined by FRS 102. The Gharlty ha5 taken advantage of the provisions In the SORP for charities not to prepare a Slalemthil ol Cash Flows. The financial slalemenls are prepared in UK 81erllng which is the functlon81 currency of the charity. Monetary 8mounl8 In thege financi81 glalemenlg are rounded lo the neare51 £1. The finanaal statements have been pr•pared under the historical cost conventlon. The prin¢lpal accounting policies 8dopled are sel out bolow. 1.2 Income All income is recognlBed in the Slalement of Financial Activities once the charity h8s enlillement lo the fund8, 1113 probable Ih*l the Income will be recelved and the amount can be measured reliably. 1.3 Exp•ndltur• Liabilities are recognised a8 expenditure as soon thère Is a legal or constructive obligation commililng the charity lo that expenditure. il IS probable that a transfer ol economic beneffts wll be required in selllem8nl and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and h85 been classified under headings that aggregate all c081 related lo the category. w)e costs cannot b• directly allribuled to partlcular headings they hav• b••n albocaled lo actlvilies on a bas18 consislenl with the use of resources. Gran15 offered subject lo eondltions which have not been met at the year end dale are noted as a commitment but not accrued as expenditure. 1.4 Cash and cash •qulvalgnts Cash and cash equivolenls wmprises cash in hand and current balances %wth banks and other inslilulions, which 8re readily convertible lo known amounts of cash and which are subjed to insignlficanl risk ol change in value. 1.5 Taxatlon The charity is exempt from corporation tax on its charilable aclivilies. 1.8 Fund accountlng Unrestricted lunds can be used in accordance with the charitabl• objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purp088s within the objects of the ehar41y. Restrictions ari8e when speoff ed by the donor or when funds are raised for particular restn'cted purposes. Further explanation of the nature and PUTP05e of each fund is induded in the notes to the finanaal ststements.
THE SERENDIPITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng pollcle IContinu•d) 1.7 Debtor8 and credltors recelvablelpjyablo wlthln one year Debtors and creditors wth no slated interest rale and receivable or payable within one year are recorded 81 tran8aclion price. Any105ses arising from impairment are recognised In the profit and loss account in other a¢Jmlni8lrotive expenses, Incom• from donatlons and legacle• Unre¥trlcted Unr••trlct•d fund• lund• 2023 2022 Donallons gnd g1ft8 28,400 101.200 Exp•ndlture on charltsble actlvltloi Unrostrlct•d Unre•trlcted funds lund• 2023 2022 Dlrecl costs Grant funding of activitie8 Isee note 41 120.890 22,744 Share of support and govorn•ncg co•ts (••• note 61 Go¥nanCe 731 972 121,621 23,718 Anatysl• by fund Unr881rieted lund8 121,621 23,716
THE SERENDIPITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Grants payable Unrestrlctod Unrestrlctsd funds funds 2023 2022 Grants to in81ilulions.' Marie Curie PoppyAnn Coleby Newcastle West End Foodb8nk SRMD Khalsa Ald Ahbap Derne91 FCRA Kamala Fcundats'on Air lickel donation Donatson8 to other institullons < £2,500 62,000 3.000 10.000 10.000 15,000 15,028 10,000 2,500 4,100 6,144 5,862 120.890 22.744 Support co•ts allocatad to actlvltles 2023 2022 Governance costs 731 973 Analysed beiw••n: Unreslricled funds 731 973 Trust90• None of the Iruslee8 lor any person8 connected wh them) received any remunergtlon or benefits from the chanly during the year. Employeej The average monthly nurnbeT of employees during the year was.. 2023 Number 2022 Numbgr Tol81 There were no employees whose annual rernuneralion was more than £60,000. Tuxatlofi Thè charity is exempl from tsxalion on ils ath'vities because all its income 15 applied for charitable purposes.
THE SERENDIPITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 rtdltor8: amounts f•lllng due within one year 2023 2022 Accruals and deferred income 10 Unmtrlctèd funds The unreslTiCted funds of the charity CompSe the unexpended b81ances of donation5 and grants lch are not subiecl to specific conditions by donors and grantors 8s lo how they may be used. These include designated funds which have been sel a*'de out of unreslricled lund$ by the tru¥lee8 for SpefiC purposes. At 1 October 2022 Incomlng Ra•ourcèi At30 rnsourc•• èxpendgd Sept•mber 2023 Gener81 funds 180,251 28.400 1121,8211 87,030 Pr•¥lous year: At 1 Octob•r 2021 Incomlng resourc89 RMourc•i At30 •xp•nd•d September 2022 General funds 82,767 101,200 123.7161 160,251 11 An•lysl• of n•t 4•8et• b•tween funds Unrgstrlctod lund# 2023 At 30 septernr 2023: Current asselsllllabilitiesl 67,030 67,030 Unrostrlctod fund 2022 At 30 S•ptsmb&r 2022: Current as8ets1lliabilitiesl 160,251 160,251 10-
THE SERENDIPITY FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 12 Related party transactlons TrnnsactSon5 wlth related partles During the ye8r the charity entered Into the folln9 transacllons related parties.. Oonatlons recelvable 2023 2022 Other related partles 3.650 100,000 3,850 100,000