Annual Report and Financial Statements Active Dorset CIO
For the Year Ended 31 March 2023
Charity No. 1175697
Active Dorset CIO Annual report and financial statements for the year ended 31 March 2023
Index
| Report of the Trustees | 1 - 3 |
|---|---|
| Report of the independent examiner | 4 - 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
Active Dorset CIO
1
Annual report and financial statements for the year ended 31 March 2023
Report of the Trustees
The trustees present their report and the associated financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Charity registration number 1175697
Registered office Slades Park Pavilion Ensbury Avenue Bournemouth Dorset BH10 4HG
Trustees
Chairman of the Board of Trustees: D Millener
Elected members: D Lock R Brown M Kimberley Stacey Nowicki
Bankers
Barclays, Leicester, LE87 2BB
Independent examiner
Mr Jonathan Marchant FCA Mazars LLP 5[th] Floor, Merck House, Seldown Lane, Poole, Dorset, BH15 1TW
Active Dorset CIO
2
Annual report and financial statements for the year ended 31 March 2023
Structure, governance and management
The charity is managed by a Board, the members of which also act as the charity’s trustees. The names of the Board members are set out on page 1. The governing document of the charity is its Constitution adopted at a Special General Meeting held on 13[th] November 2017. Amongst other things, the Constitution provides for the appointment and election of Board members.
Objects
The charity’s objects are to:
To promote for the benefit of the inhabitants of the county of Dorset the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants
Achievements
The success of the community led approach at Slades Park has continued with increasing numbers of volunteers and users. We were delighted that a number of our volunteers have been able to use their experience gained at Slades to help achieve full time paid employment.
In December we reached agreement with Dorset Council to take on a new facility at Redlands Leisure and Community Park in Weymouth. The key aspects of operation in Bournemouth will be reflected in Weymouth and we hope to transform a moribund facility into a vibrant community hub.
Volunteers
Over 30 volunteers are trained and operating within the café plus numerous sport coaches are delivering sessions to local people.
Plans for 2023/24
Our focus will be to complete the various capital works in Weymouth and to build a strong base of volunteers to support that site.
In Bournemouth we hope to use some of the retained surpluses to improve the café offer and to add some additional park facilities.
Financial review
We have seen the impact of consistently high inflation on utilities and other items and also the impact of VAT registration which all impact on the surpluses the Charity is able to generate. While extremely mindful of the users and communities we aim to serve this will lead to inevitable increases in fees and charges.
We are working closely with Dorset Council at Redlands to bring this site into surplus which is anticipated in 2025/26 but in the meantime the Charity will recoup any losses from the council relating to the site.
Active Dorset CIO
3
Annual report and financial statements for the year ended 31 March 2023
Reserves policy
The trustees have agreed a policy to maintain reserves within the General Fund at such a level as would enable it, in the event of a sudden loss of income, to cover ongoing direct expenses of running the charity for a period of about 6 months. They recognize though that this may take a few years to achieve.
Risk management
Cost of Living
The United Kingdom is experiencing a cost of living challenge which impacts most on those with the least. Many of our activities are designed to be attractive to these groups specifically and so we recognise some risk especially in peoples ability to pay for activity. The model we use balances those priorities with delivering activity to the wider community and so we remain confident that the delivery and sustainability remain robust.
Trustees' responsibilities for the financial statements
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year. The trustees have to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and accounting estimates that are reasonable and prudent;
-
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 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.
D Millener
D Millener (Jan 30, 2024 11:23 GMT)
BY ORDER OF THE TRUSTEES D Millener Chairman Date: Jan 30, 2024
Active Dorset CIO
4
Financial statements for the year ended 31 March 2023
Independent Examiner’s Report to the Trustees of Active Dorset CIO
I report on the financial statements of the charity for the year ended 31 March 2023, which are set out on pages 6 to 14.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the financial statements under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body for my examination work, for this report, or for the statements I have made.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Active Dorset CIO
5
Financial statements for the year ended 31 March 2023
Independent Examiner’s Report to the Trustees of Active Dorset CIO
Independent examiner’s statement
In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:
-
accounting records were not kept in respect of Active Dorset CIO in accordance with section 130 of the 2011 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Jonathan Marchant FCA
Mazars LLP Chartered accountants 5th Floor Merck House Seldown Lane Poole Dorset BH15 1TW
Date:
Active Dorset CIO
6
Financial statements for the year ended 31 March 2023
Statement of financial activities
| Unrestricted | Restricted | 2023 | Restated | ||
|---|---|---|---|---|---|
| Note | funds | funds | 2022 | ||
| £ | £ | £ | £ | ||
| Incoming resources | |||||
| Voluntary income | 2 | 121,733 | - | 121,733 | - |
| Activities for generating funds | 3 | 340,302 | - | 340,302 | 210,605 |
| Other income | 4 | 600 | - | 600 | 4,125 |
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ----------------------------------------------- | ||
| Total incoming resources | 462,635 | - | 462,635 | 214,730 | |
| ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| Resources expended | |||||
| Costs of generating funds | 5 | (141,644) | - | (141,644) | (95,885) |
| Charitable activities | 6 | (172,975) | - | (172,975) | (38,059) |
| ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| Total resources expended | (314,619) | - | (314,619) | (133,944) | |
| ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ----------------------------------------------- | ||
| Net incoming resources for the year | 148,016 | - | 148,016 | 80,786 | |
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ||
| Net movement in funds | 148,016 | - | 148,016 | 80,786 | |
| Restated fund balances brought forward | 145,997 | - | 145,997 | 65,211 | |
| Transfers | - | - | - | - | |
| ---------------------------------------------- | --------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ||
| Fund balances carried forward | 294,013 | - | 294,013 | 145,997 | |
| ==================== | ==================== | ==================== | ==================== |
The accompanying accounting policies and notes form part of these financial statements.
Active Dorset CIO Financial statements for the year ended 31 March 2023
7
Balance sheet
| Restated | |||
|---|---|---|---|
| Note | 2023 | 2022 | |
| £ | £ | ||
| Fixed assets | |||
| Tangible assets | 8 | 111,877 | 22,110 |
| ---------------------------------------------- | ---------------------------------------------- | ||
| 111,877 | 22,110 | ||
| ----------------------------------------------- | ----------------------------------------------- | ||
| Current assets | |||
| Debtors | 9 | 34,254 | 10,838 |
| Cash on deposit | 339,545 | 196,794 | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| 373,799 | 207,633 | ||
| ----------------------------------------------- | ----------------------------------------------- | ||
| Current liabilities | |||
| Creditors | 10 | (191,663) | (83,746) |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Net current assets | 182,136 | 123,887 | |
| ----------------------------------------------- | ----------------------------------------------- | ||
| Total assets less current liabilities | 294,013 | 145,997 | |
| ==================== | ==================== | ||
| Representing: | |||
| General funds | 11 | 210,680 | 87,664 |
| Designated funds | 83,333 | 58,333 | |
| Restricted funds | 11 | - | - |
| ---------------------------------------------- | ---------------------------------------------- | ||
| Total funds | 294,013 | 145,997 | |
| ==================== | ==================== |
Charity Number - 1175697
The financial statements were approved by the Board of Trustees on Jan 30, 2024
D Millener
D Millener (Jan 30, 2024 11:23 GMT)
D Millener – Chairman
The accompanying accounting policies and notes form part of these financial statements.
Active Dorset CIO
8
1 Principal accounting policies
Financial statements for the year ended 31 March 2023
Basis of preparation
The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: 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) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Reconciliation with previous Generally Accepted Accounting Practice
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatements were required.
Going concern
The financial statements have been prepared on the basis that the charity is a going concern. When determining the going concern assessment the trustees’ have considered the charity’s activities, together with factors likely to affect its future development, performance and position; these are set out in the Trustees Report.
The trustees consider that there are no material uncertainties on the charity’s ability to continue its activities for the foreseeable future. The trustees are satisfied that the charity’s assets are available and adequate to fulfil its obligations for a period of at least twelve months from the signing of these financial statements.
Income
Café revenue
Income represents point of sale receipts and amounts invoiced, excluding value added tax, in respect of the sale of goods and services to customers.
Rental income
Income received for rental services is deferred until the criteria for income recognition are met.
Voluntary income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured sufficiently reliably.
Allocation of resources expended
Costs of generating funds consists of fees and costs associated with the events and activities of the Charity (as detailed in note 5).
Costs of charitable activities include the costs associated with the management of the charity, not included as direct costs.
Active Dorset CIO
9
Financial statements for the year ended 31 March 2023
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulations and good practice. These costs include the fees of the independent examiner.
Fixed assets
Items costing less than £500 are written off immediately to the income and expenditure account of the period in which they are purchased.
Depreciation is calculated so as to write off the cost of a capitalised asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant & Equipment - Between 3 and 10 years straight line basis. Cricket pitch – 4 years straight line basis.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Financial instruments
The charity only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Activities.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the charity would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Active Dorset CIO
10
Financial statements for the year ended 31 March 2023
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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.
Designated funds comprise unrestricted funds that have been set aside by the trustees for purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
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 purposes. The costs 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.
Judgements in applying accounting policies and key sources of estimation uncertainty
In the preparation of the 2023 financial statements, it is the responsibility of the trustees to make informed judgements and estimates in the provision of liabilities and expenses.
Active Dorset CIO acknowledges the requirements of this disclosure. As such the trustees of the charity can clarify that are the following significant estimations.
Donated assets
The charity received a significant level of tangible assets as part of a donation during the financial year. As part of the recognition of the asset additions and donation value management have applied estimation to ascertain a value. The estimation is based on the consideration of replacement value of the assets and where in the useful life the asset existed at the point of donation.
Active Dorset CIO
11
Financial statements for the year ended 31 March 2023
2.
Voluntary income
3.
| 2023 | 2023 | 2023 | 2022 | |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | |
| Grant funding | 29,946 |
- | 29,946 | - |
| Gifted assets | 91,787 | - | 91,787 | - |
| Total | 121,733 | - | 121,733 | - |
| ctivities for | generating funds | |||
| 2023 | 2023 | 2023 | 2022 | |
| Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | |
| Café sales | 119,903 | - | 119,903 | 90,501 |
| Facility Hire | 207,884 | - | 207,884 | 109,103 |
| Hall hire | 381 | - | 381 | 7,937 |
| Tennis centre | 12,134 | - | 12,134 | 3,064 |
| Total | 340,302 | - | 340,302 | 210,605 |
Activities for generating funds
All activities for generating funds in 2022 were unrestricted.
4. Other income
| Other Total |
2023 Unrestricted £ 2023 Restricted £ 2023 Total £ 2022 Total £ 600 - 600 4,125 600 - 600 4,125 |
|---|---|
2022 all other income was unrestricted.
Active Dorset CIO
12
Financial statements for the year ended 31 March 2023
5.
Cost of generating funds
| Café consumables Equipment hire Cleaning Management charge Total |
2023 Unrestricted £ 2023 Restricted £ 2023 Total £ 2022 Total £ 59,796 - 59,796 49,699 - - - 1,186 6,184 - 6,184 75,664 - 75,664 45,000 |
|---|---|
| 141,644 - 141,644 95,885 |
2022 costs of generating funds were all unrestricted.
6.
Charitable activities
| Charitable activities | ||
|---|---|---|
| 2023 | Restated | |
| 2022 | ||
| £ | £ | |
| Advertising & Marketing | 3,694 | 2,205 |
| Cleaning | 597 | 4,473 |
| Postage & Stationery | - | 27 |
| Repairs & Maintenance | 19,446 | 14,196 |
| Depreciation | 34,428 | 8,494 |
| Governance Costs (detailed in note 6) | 3,960 | - |
| Bank charges | 3,732 | 1,342 |
| Coaching | 804 | 3,166 |
| User fees collected for previous operator | 29,829 | - |
| Rates | 599 | - |
| Light, power and heating | 24,362 | - |
| Legal and professional | 27,530 | - |
| Insurance | 1,704 | - |
| Sundry expenses | 22,290 | 4,156 |
| ----------------------------------------------- | ----------------------------------------------- | |
| 172,975 | 38,059 | |
| ==================== | ==================== |
The charity does not employee any staff.
Out-of-pocket expenses totalling £nil (2022 - £nil) were reimbursed to trustees in the year.
7. Governance costs
The amount payable for the independent examination and bookkeeping totals £3,960 (2022 - £2,040), and no amounts were paid to the examiner in respect of other services.
Active Dorset CIO
13
Financial statements for the year ended 31 March 2023
8. Tangible fixed assets
9.
10.
| Cost At 1 April 2022 Additions Disposals At 31 March 2023 Depreciation At 1 April 2022 Charge for the year On disposals At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 Debtors Trade debtors Other debtors Accrued income Creditors Trade creditors Amounts owed to related parties Accruals Other Creditors VAT |
Equipment £ Cricket Pitch £ Total £ 7,467 25,916 33,383 125,160 - 125,160 (865) - (865) |
|---|---|
| 131,763 25,916 157,678 |
|
| 3,814 7,559 11,373 27,949 6,479 34,428 - - - |
|
| 31,763 14,038 45,801 |
|
| 100,000 11,878 111,877 |
|
| 3,653 18,357 22,010 |
|
| 2023 2022 £ £ 1,687 9,536 2,621 1,302 29,946 - ---------------------------------------------- ---------------------------------------------- 34,254 10,838 ==================== ==================== 2023 Restated 2022 £ £ 25,966 3,040 141,103 67,500 6,000 2,040 17,166 11,166 1,428 - ----------------------------------------------- ----------------------------------------------- 191,663 83,746 ==================== ==================== |
Active Dorset CIO
14
- Other financial commitments
Financial statements for the year ended 31 March 2023
11.
Funds
| Funds | |||||
|---|---|---|---|---|---|
| Restated at 1 | **Income ** |
Expenditure | Transfers | At 31 | |
| April 2022 | March 2023 | ||||
| £ | £ | £ | £ | £ | |
| General funds | 87,664 | 462,635 | (314,619) | (25,000) | 210,680 |
| Designated funds | 58,333 | - | - | 25,000 | 83,333 |
| --------------------------------------------- | ---------------------------------------------- | ----------------------------------------------- | --------------------------------------------- | --------------------------------------------- | |
| Unrestricted funds | 145,997 | 462,635 | (314,619) | - | 294,013 |
| Restricted funds | - | - | - | - | - |
| --------------------------------------------- | ---------------------------------------------- | ----------------------------------------------- | --------------------------------------------- | --------------------------------------------- | |
| Total funds | 145,997 ==================== |
462,635 ==================== |
(314,619) ==================== |
- ==================== |
294,013 ==================== |
Designated funds
The designated fund represents the requirement to replace the 3G pitches after a period of ten years from installation. The fund continues to increase on a straight line basis up to the expected value of the future costs.
The company had total commitments at the balance sheet date of £nil (2022: £368).
13. Related Party Transactions
During the year the charity incurred costs totalling £73,603 (2022: £45,000) from Active Dorset CIC, a company with common control. These costs were mainly in relation to staff costs. At the year end date £141,103 (2022: £67,500) was owed to Active Dorset CIC.
14. Controlling party
The charity is controlled by its trustees in accordance with the terms in the Articles of Association.
15. Prior year adjustment
The trustees have taken the decision to make the following prior year restatement to the comparative accounts prepared under FRS 102. The trustees have corrected the classification of the sinking fund for the 3G pitches from a liability to a designated fund. The basis of this decision is that the intention to replace the pitches in the future does not satisfy the criteria for a liability and should be treated as a designation of the unrestricted funds for future use. The resulting adjustment is an increase in the surplus for the year of £25,000, a decrease in liabilities of £58,333 and an increase in the opening reserves of £33,333.
5[th] Floor, Merck House Seldown Lane Poole Dorset BH15 1TW
Date: Jan 30, 2024
Dear Jon Marchant,
Active Dorset CIO – Independent Examination for Year Ended 31 March 2023
This representation letter is provided in connection with your Independent Examination of the financial statements of The Active Dorset CIO for the year ended 31 March 2023 for the purpose of expressing an opinion as to whether the financial statements give a true and fair view in accordance with the Charities Act 2011 and relevant legislation and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS102).
We confirm that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate, inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you.
Our responsibility for the financial statements and accounting information
We believe that we have fulfilled our responsibilities for the true and fair presentation and preparation of the financial statements in accordance with the Charities Act 2011 and relevant legislation and United Kingdom Accounting Standards.
Our responsibility to provide and disclose relevant information
We have provided you with:
-
access to all information of which we are aware that is relevant to the preparation of the financial statements such as records, documentation and other material;
-
additional information that you have requested from us for the purpose of the examination; and
-
unrestricted access to individuals within the charity you determined it was necessary to contact in order to obtain examination evidence.
We confirm as trustees that we have taken all the necessary steps to make us aware, as trustees, of any relevant examination information and to establish that you, as examiners, are aware of this information.
As far as we are aware there is no relevant examination information of which you, as examiner, are unaware.
Accounting records
We confirm that all transactions that have a material effect on the financial statements have been recorded in the accounting records and are reflected in the financial statements. All other records and related information, including minutes of all management and shareholders' meetings, have been made available to you in accordance with the Charities Act 2011.
Accounting policies
We confirm that we have reviewed the accounting policies applied during the year in accordance with Section 10 of Financial Reporting Standard 102 and consider these policies appropriate to faithfully represent the effects of transactions, other events or conditions on the charity’s financial position, financial performance and cash flows.
Accounting estimates
We confirm that the methods, significant assumptions and the data used in making the accounting estimates are appropriate to achieve recognition, measurement or disclosure that is in accordance with the applicable financial reporting framework.
Contingencies
There are no material contingent losses including pending or potential litigation that should be accrued where:
-
information presently available indicates that it is probable that an asset has been impaired or a liability had been incurred at the balance sheet date; and
-
the amount of the loss can be reasonably estimated.
There are no material contingent losses that should be disclosed where, although either or both the conditions specified above are not met, there is a reasonable possibility that a loss, or a loss greater than that accrued, may have been incurred at the balance sheet date.
There are no contingent gains which should be disclosed.
All material matters, including unasserted claims, that may result in litigation against the charity have been brought to your attention. All known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to you and accounted for and disclosed in accordance with the Charities Act 2011 and relevant legislation and United Kingdom Accounting Standards.
Laws and regulations
We confirm that we have disclosed to you all those events of which we are aware which involve known or suspected non-compliance with laws and regulations, together with the actual or contingent consequences which may arise therefrom.
We have complied with all aspects of contractual agreements that would have a material effect on the accounts in the event of non-compliance.
Fraud and error
We acknowledge our responsibility as trustees of the charity, for the design, implementation and maintenance of internal control to prevent and detect fraud and error.
We have disclosed to you:
-
all the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud;
-
all knowledge of fraud or suspected fraud affecting the entity involving:
-
management and those charged with governance;
-
employees who have significant roles in internal control; and
-
others where fraud could have a material effect on the financial statements.
We have disclosed to you all information in relation to any allegations of fraud, or suspected fraud, affecting the entity's financial statements communicated by employees, former employees, analysts, regulators or others.
Transactions with trustees
We confirm that the charity has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities including loans, quasi-loans, credit transactions, mutually beneficial arrangements, or guarantees or security for the foregoing or assumed or assigned any such rights or liabilities for any trustees, shadow trustees, alternate trustees, or their connected persons, or non-trustee officers except as permitted by the Charities Act 2011 and as disclosed in the financial statements.
No trustee or their connected persons had a direct or indirect material interest in any other transaction or arrangement with the charity other than those disclosed in accordance with the Charities Act 2011 or exempted from disclosure by the Act.
Related party transactions
We confirm that all related party relationships, transactions and balances, (including sales, purchases, loans, transfers, leasing arrangements and guarantees) have been appropriately accounted for and disclosed in accordance with the requirements of the Charities Act 2011 and relevant legislation and United Kingdom Accounting Standards.
We have disclosed to you the identity of the charity’s related parties and all related party relationships and transactions of which we are aware.
Impairment review
To the best of our knowledge, there is nothing to indicate that there is a permanent reduction in the recoverable amount of the fixed assets below their carrying value at the balance sheet date. An impairment review is therefore not considered necessary.
Charges on assets
All the charity's assets are free from any charges exercisable by third parties except as disclosed within the financial statements.
Future commitments
We have no plans, intentions or commitments that may materially affect the carrying value or classification of assets and liabilities or give rise to additional liabilities.
Subsequent events
We confirm all events subsequent to the date of the financial statements and for the Charities Act 2011 and relevant legislation and United Kingdom Accounting Standards require adjustment or disclosure have been adjusted or disclosed.
Should further material events occur after the date of this letter which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly.
Going concern
To the best of our knowledge there is nothing to indicate that the charity will not continue as a going concern in the foreseeable future. The period to which we have paid particular attention in assessing the appropriateness of the going concern basis is not less than twelve months from the date of approval of the accounts.
Unadjusted misstatements
We confirm there are no unadjusted misstatements.
Yours faithfully
D Millener
Trustee ……………………………. D Millener (Jan 30, 2024 11:23 GMT)