Charity Registration No. 1176669 Company Registration No. CE012923 (England and Wales)
FRIENDS OF THE TENTH
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
SOMERBYS LIMITED CHARTERED ACCOUNTANTS 30 NELSON STREET LEICESTER LE1 7BA
FRIENDS OF THE TENTH
CONTENTS
| Page | |
|---|---|
| Information | 1 |
| Report of the Board of Trustees | 2 |
| Accountant’s Report | 3 |
| Statement of Financial Activities | 4 - 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 8 |
| Detailed Statement of Financial Activities | 9 |
FRIENDS OF THE TENTH
1
INFORMATION FOR THE YEAR ENDED 31 JANUARY 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE012923 (England and Wales)
Registered Charity number
1176669
Registered office
Hemploe View The Belt South Kilworth Lutterworth Leicestershire LE17 6DX
Trustees
A J Wilson (Chair) Mrs J Holland T F S Hall-Wilson G S Warner
Accountants
AM West FCA Somerbys Limited 30 Nelson Street Leicester LE1 7BA
FRIENDS OF THE TENTH
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2022
The trustees who are also the directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements of the charity for the year ended 31 January 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
OBJECTIVE AND ACTIVITIES
Objectives and aims
Friends of the Tenth’s main objective is to promote good citizenship amongst the public and to promote the efficiency of the armed forces of the Crown by providing and maintaining a public memorial in Somerby Parishes, Leicestershire to 10[th] Battalion The Parachute Regiment, which commemorates and remembers those who lost their lives or suffered serious injury or put themselves at risk of loss of life or serious injury during conflict in the service of the country during World War 2.
To advance education for the public benefit in the history, deeds and traditions of British airborne forces, in particular 10[th] Battalion The Parachute Regiment, including by providing a public website containing information and funding educational visits to battlefields, museums and monuments.
The work of the charity Trust fully reflects the purpose that the charity was set up to further.
Public benefit
The trustees have confirmed that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and in planning future activities.
FINANCIAL REVIEW
Investment policy and objectives
The charity does not hold significant funds and, therefore, the trustees consider it appropriate to keep all of the funds in a bank current account. The trustees are satisfied with the activities during the year and at the position at the year end.
Reserves policy
It is the policy of the charity that all funds received are used in furtherance of the charity’s objectives. It is not the intention to build up a significant reserve of funds. The charity ensures that all opportunities to provide assistance in line with its aims are carefully assessed and evaluated in relation to the funds at its disposal.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The trustees were selected for their experience, skills and contacts in a variety of areas. Power to appoint new trustees lies with the Board of Trustees.
Approved by order of the board of trustees on 11 March 2022 and signed on its behalf by:
Alexander John Wilson
Alexander John Wilson (Mar 15, 2022 19:24 GMT)
A J Wilson Trustee
FRIENDS OF THE TENTH
ACCOUNTANT’S REPORT TO THE TRUSTEES ON THE FINANCIAL STATEMENTS OF FRIENDS OF THE TENTH FOR THE YEAR ENDED 31 JANUARY 2022
In order to assist you to fulfil your duties under the Companies Act 2006 and Charities Act 2011, we have prepared for your approval the financial statements of Friends of the Tenth for the year ended 31 January 2022 set out on pages 4 to 8 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Trustees of Friends of the Tenth, as a body, in accordance with the terms of our engagement letter dated 2 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Friends of the Tenth and state those matters that we have agreed to state to the Board of Trustees of Friends of the Tenth, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Friends of the Tenth and its Board of Trustees as a body, for our work or for this report.
It is your duty to ensure that Friends of the Tenth has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of Friends of the Tenth. You consider that Friends of the Tenth is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Friends of the Tenth. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Alex West FCA Somerbys Limited Chartered Accountants
.........................
30 Nelson Street Leicester LE1 7BA
FRIENDS OF THE TENTH
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STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2022
| Current financial year Notes Income and Endowments from Donations and legacies Other trading activities 2 VAT Refunded Expenditure Raising funds Charitable activities Charitable Total Deficit of income over expenditure Total funds brought forward Total funds carried forward |
Unrestricted fund 2022 £ 10,589 9,801 1,100 21,490 13,429 8,880 22,309 (819) 33,587 32,768 |
Restricted fund 2022 £ - - - - - - - - - - |
Total funds 2022 £ 10,589 9,801 1,100 |
|---|---|---|---|
| 21,490 13,429 8,880 |
|||
| 22,309 | |||
| (819) | |||
| 33,587 | |||
| 32,768 |
FRIENDS OF THE TENTH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 JANUARY 2022
5
| Previous financial year Notes Income and Endowments from Donations and legacies Donated assets Other trading activities 2 Expenditure Raising funds Charitable activities Charitable Total Surplus of income over expenditure Total funds brought forward Total funds carried forward |
Unrestricted fund 2021 £ 13,154 1,200 7,597 21,951 18,289 2,608 20,897 1,054 32,533 33,587 |
Restricted fund 2021 £ - - - - - - - - - - |
Total funds 2021 £ 13,154 1,200 7,597 |
|---|---|---|---|
| 21,951 18,289 2,608 |
|||
| 20,897 | |||
| 1,054 | |||
| 32,533 | |||
| 33,587 |
FRIENDS OF THE TENTH
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BALANCE SHEET AT 31 JANUARY 2022
| Notes Current assets Donated assets Stocks 5 Prepayments Cash at bank Current assets Current liabilities Net assets Funds Unrestricted funds 6 Total funds |
Unrestricted fund £ 1,500 7,699 1,769 22,520 33,488 33,488 (720) 32,768 32,768 32,768 |
Restricted fund £ - - - - - - - - - - |
Total funds 2022 £ 1,500 7,699 1,769 22,520 33,488 33,488 (720) 32,768 32,768 32,768 |
Total funds 2021 £ 1,200 2,669 - 30,618 |
|---|---|---|---|---|
| 34,487 | ||||
| 34,487 | ||||
| (900) | ||||
| 33,587 | ||||
| 33,587 | ||||
| 33,587 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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a) ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Act 2006 and
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b) preparing financial statement which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.
The financial statements were approved by the Board of Trustees on 11 March 2022 and were signed on its behalf by:
Alexander John Wilson
Alexander John Wilson (Mar 15, 2022 19:24 GMT)
A J Wilson (Trustee)
FRIENDS OF THE TENTH
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The accounts have been prepared in accordance with the charity’s governing document, the Companies Act 2006 and ‘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) as amended for accounting periods commencing from 1 January 2016. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have been prepared under the historical cost convention.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon and there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under heading that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can be used for particular restricted purposes with the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposed.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| THER TRADING ACTIVITIES | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Sales | 9,801 | 7,597 |
3. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees; remuneration or other benefits for the year ended 31 January 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 January 2022.
FRIENDS OF THE TENTH
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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
4. DONATED ASSETS
| 4. DONATED ASSETS |
||||
|---|---|---|---|---|
| Painting 5. STOCKS Stocks 6. MOVEMENT IN FUNDS Current financial year Unrestricted funds General fund Total funds Previous financial year Unrestricted funds General fund Total funds |
At 1 February 2021 £ 33,587 33,587 At 1 February 2020 £ 32,533 32,533 |
Incoming resources £ 21,490 21,490 Incoming resources £ 21,951 21,951 |
2022 2021 £ £ 1,500 1,200 2022 2021 £ £ 7,699 2,669 Resources expended At 31 January 2022 £ £ (22,309) 32,768 (22,309) 32,768 Resources expended At 31 January 2021 £ £ (20,897) 33,587 (20,897) 33,587 |
|
| 32,768 | ||||
| At 31 January 2021 £ 33,587 |
||||
| 33,587 |
7. RELATED PARTY DISCLOSURES
The Trustees commissioned a book called “Arnhem: Eight Days to Oblivion” in order to advance education for the public benefit. A trustee, Mr Grahame Warner, was commissioned by the Trustees to author the book. The Charity will benefit from sales of the book as well as Mr G Warner.
Once all costs of publishing are received, the future profits from book sales will be split 75% for the benefit of the Charity and 25% for Mr G Warner. The trustees have waived all TV, Film and Media rights, so that Mr G warner will benefit from these in their entirety
Note all conflicts of interest have been declared and it should be noted that Mr G Warner did not participate in any decision making in respect of the contract or in respect of setting the terms and conditions of the same.
FRIENDS OF THE TENTH
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DETAILED STATEMENT OF FINANICAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2022
| Note INCOME AND ENDOWMENTS Donations and legacies Donations Donated assets Other trading activities Sales VAT refund on sculpture Total incoming resources EXPENDITURE Raising donations and legacies Insurance Donation charges Merchandise Printing, postage and stationery Accountancy Other costs Film/book expenditure 7 Office costs Internet costs Charitable activities Artist/sculpture costs/landscaping costs Victor Gregg’s funeral costs Total resources expended (Deficit)/surplus of income over expenditure |
31 January 2022 £ 10,589 - 9,801 1,100 21,490 445 148 7,905 1,979 720 1,472 - 760 13,429 6,600 2,280 8,880 22,309 (819) |
31 January 2021 £ 13,154 1,200 7,597 - |
|---|---|---|
| 21,951 445 156 6,093 2,983 900 2,938 4,154 620 - |
||
| 18,289 2,608 - |
||
| 2,608 | ||
| 20,897 | ||
| 1,054 |
Friends of the Tenth Hemploe View The Belt South Kibworth Lutterworth Leicestershire LE17 6DX
11 March 2022
Somerbys Limited Chartered Accountants 30, Nelson Street Leicester LE1 7BA Dear Sirs
Financial statements for the year ended 31 January 2022
Dear Sirs
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charitable company’s financial statements for the year ended 31 January 2022. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
General
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1 We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.
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2 We confirm that the charitable company qualifies as small in accordance with the conditions set out in chapter 1 of part 15 of the Companies Act 2006.
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3 We confirm that the charitable company was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 January 2020 audited. We also confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476 of the Companies Act 2006.
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4 We have fulfilled our responsibilities as directors / trustees as set out in the terms of your engagement letter dated 2 September 2020, under the Companies Act 2006 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
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5 All the transactions undertaken by the charitable company have been properly reflected and recorded in the accounting records.
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6 All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charitable company and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission.
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7 The financial statements are free of material misstatements, including omissions.
Assets and liabilities
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8 The charitable company has satisfactory title to all assets and there are no liens or encumbrances on the charitable company’s assets, except for those that are disclosed in the notes to the financial statements.
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9 All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
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10 We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
Accounting estimates
- 11 Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
Loans and arrangements
- 12 The charitable company has not granted any advances or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statements.
Legal claims
- 13 We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for, and disclosed in, the financial statements.
Laws and regulations
- 14 We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
Related parties
- 15 Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
Subsequent events
- 16 All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
Going concern
- 17 We believe that the charitable company’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charitable company’s needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charitable company’s ability to continue as a going concern need to be made in the financial statements.
Grants and donations
- 18 All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
Yours faithfully
Alexander John Wilson
Alexander John Wilson (Mar 15, 2022 19:24 GMT) ..............................................................................................................................
AJ Wilson
Signed on behalf of the board of directors / trustees
11 March 2022
Friends of the Tenth Registered in England and Wales: CE012923. Charity Registration Number: 1176669 Registered Office: Hemploe View, The Belt, South Kilworth, Lutterworth, Leicestershire, LE17 6DX Trustees: AJ Wilson, Mrs J Holland, TFS Hall-Wilson, GS Warner.