Poverty Action Community Trust
Financial Statements and Annual Report Year Ending 31[st] March 2022
Registered Charity Number: 1176967
POVERTY ACTION COMMUNITY TRUST Reports and Accounts for the Year Ended 31 March 2022
| Independent Examiners Report | 2 |
|---|---|
| Income and Expenditure Statement | 3 |
| Balance Sheet | 4 |
| Notes to accounts |
5 |
POVERTY ACTION COMMUNITY TRUST
Independent Examiner’s Report To the trustees of the Poverty Action Community Trust
I report on the accounts of the charity for the year ended 31 March 2022
Respective responsibilities of trustees and examiner
The charities Trustees are responsible for the preparation of the accounts. The charities 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. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the 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 accounts present a ‘true and fair’ view and the report is limited to those matters set out in statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention other than that disclosed below
- which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 41 of the Act and to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 1993 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Atif Mahfooz ACMA CGMA AM Chartered Management Accountants 47 Branston Road Burton on Trent Staffordshire DE14 3BY
Date: 11[th] January 2024
POVERTY ACTION COMMUNITY TRUST
Income and Expenditure Account YE 31 March 2022
| INCOMING RESOURCES | £ | £ |
|---|---|---|
| Donations | 535.27 | |
| Grants | 0 | 535.27 |
| RESOURCES EXPENDED | ||
| Fundraising costs | 0 | |
| Charitable Activities | 0 | |
| Charity Investment | 0 | |
| Total Expenditure | 0 | |
| NET SURPLUS RESOURCES | 535.27 | |
| Funds Brought Forward | 1314.74 | |
| TOTAL FUNDS CARRIED FORWARD | 1850.01 |
Poverty Action Community Trust Balance Sheet as at 31 March 2022
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£ £
Current Assets
Cash at bank and in hand 1,850.01
Current Liabilities
Overdraft 0
Net Current Assets / Liabilities 1,850.01
Net Assets / Liabilities 1,850.01
Financed By:
Accumulated Funds 1,314.74
Income & Expenditure 535.27 1,850.01
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Client Approval Certificate
We approve the financial statements for the year ended 31 March 2022.
We confirm to the best of our knowledge and belief, the accounting records reflect all the transactions entered into by us in the period covered by the financial statements.
Approved and authorised for issue by the Trustees on 11[th] January 2024
Trustee
Poverty Action Community Trust Notes to the Accounts For the year ended 31 March 2022
1 Accounting Policies
Basis of preparing the financial statements
The financial statements have been prepared on a receipts and payments basis.
Accounting convention
The financial statements have been prepared under the historical cost convention, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the income is received.
Resources expended
Expenditure is accounted for on a payments basis and has been classified under headings 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.
Taxation
The charity is exempt from 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 only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.