Charity No. 1172987
The GKR Karate Sports Foundation
(Dormant Accounts) (A Charitable Incorporated Organisation) Annual Report and Financial Statements Year ended 31st March 2024
Contents
Legal and administrative information
Report of the Trustees
Dormant Balance Sheet
Notes forming part of the financial statements
Legal and administrative information
Charity number 1172987
Registered address Trustees
Unit 10 Foundry 10 Widnes Business Park Waterside Lane Widnes WA8 8GU Mr Jason Bennett Mr Robert McCracken Mr Simon Kane
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The GKR Karate Sports Foundation Trustees' Report
The Trustees present their annual report and accounts for the year ended 31st March 2024.
During this period, the charity had dormant accounts.
Structure, governance and management
The Charity is constituted as a Charitable Incorporated Organisation (CIO) Foundation, as a body corporate under Part 11 of the Charities Act 2011 on the 11th May 2017. The CIO registered with the Charity Commission on the same day.
Trustees are legally responsible for the governance and management of the charity. Trustees are responsible of setting strategies and policies for ensuring these are implemented.
Risk management
The charity's trustees have considered the major risks to which the charity is exposed and have reviewed potential risks. Systems and procedures have been put in place to manage the risks and to mitigate any adverse outcomes.
Objectives and activities
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The promotion of and community participation in healthy recreation nationally in particular by the provision of facilities and instruction/education for the participating in the sport of Karate.
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The provision of facilities for the instruction and education of karate provided in the interests of social welfare, for individuals who have by reason of their age, disability, financial hardship or social circumstances, a lesser opportunity to participate in sport and more particularly karate with the object of improving their conditions of life; and
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Such other charitable purposes connected with the instruction of karate, which the trustees in their absolute discretion deem appropriate from time to time.
Achievements and Performance
The CIO was dormant during this period.
Financial review
No transaction took place during this period.
Trustees' responsibilities statement
The trustees are responsible for preparing the Trustees' Annual 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 the incoming resources and application of resources of the charity 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;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards 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 operation.
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The GKR Karate Sports Foundation Trustees' Report - continued
The trustees 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 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
This report was approved by the trustees on ……17 September 2024………………….signed on their behalf by:
…………………………………..
Simon Kane
Trustee
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The GKR Karate Sports Foundation
Balance Sheet as at 31st March 2024
(Dormant Accounts)
| Fixed assets Tangibleassets Total fixedassets Current assets Stock andworkin progress Debtors Cashat bank and in hand Liabilities Creditors:amounts falling due withinoneyear Net currentassets Creditors: amountsfalling due after one year Provision forliabilities Net assets Reserves |
£ 0 0 0 |
Year ended 31st March 2024 £ |
|---|---|---|
| 0 | ||
| 0 0 |
||
| 0 | ||
| 0 0 0 |
||
| 0 | ||
| 0 |
Approved by the Board on _17 September 2024__ and signed on its behalf by
…………………………….. Simon Kane
Trustee
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The GKR Karate Sports Foundation
Notes forming part of the financial statements for the year ended 31st March 2024
1. Accounting policies
(a) Basis of preparation
The accounts have been prepared in accordance with the receipts and payments basis in accordance with the Charity Commission guidance.
(b) Charity status
The GKR Karate Sports Foundation was established under a CIO Foundation constitution and is a registered with the Charity Commission under the reference of 1172987. The Trustees are appointed and function in accordance with the Constitution.
(c) 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.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
(d) Receipts
All incoming resources are included in the Receipt & payment Accounts when the charity actually obtains legally entitled income.
(e) Payments
All expenditure is accounted for on payments basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
2. Member liabilities
The members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
3. Debt outstanding
There are no particulars of any debt outstanding at the date the statement of assets and liabilities which is owed by The GKR Karate Sports Foundation and which is secured by an express charge on any of the assets of The GKR Karate Sports Foundation.
4. Related Parties Controlling entity
The charity is controlled by the trustees. During the year the Trustees received no emoluments or incurred any expenses using Trust funds.
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