REGISTERED CHARITY NUMBER: 1178068
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST NOVEMBER 2024
FOR
GRAVITY HQ
S.D. Garner + Co Limited Chartered Certified Accountants
92 Station Lane Hornchurch Essex RM12 6LX
GRAVITY HQ
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST NOVEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
GRAVITY HQ
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1ST NOVEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 1st November 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the need of those people who are socially excluded and assisting them to integrate into society through the provision of a social club.
Significant activities
During the year the charity undertook the following activities:
-
Bowling
-
Dance and aerobic sessions
-
Magic Shows
-
Animal Shows
-
Walks around local parks and lakes
-
Boot Camp for personal fitness
-
Summer BBQ held at the Dormans playing fields
FINANCIAL REVIEW
Reserves policy
The trustees consider that the reserves held are sufficient to continue the charities activity in future years. The trustees actively review the major risks which the charity faces on a regular basis and have also examined other operational risks faced by the charity. The trustees confirm that they have established systems to mitigate the significant risks.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity was registered as a Charitable Incorporated Organisation (CIO) with the charity commission on 24 April 2018.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1178068
Principal address
14 Lark Rise Crawley RH11 7QQ
Trustees
M Hussain G Gul H Akhtar
Page 1
GRAVITY HQ
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1ST NOVEMBER 2024
Approved by order of the board of trustees on 12th November 2024 and signed on its behalf by:
13/11/2024
G Gul - Trustee
Page 2
GRAVITY HQ
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST NOVEMBER 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 7,928 EXPENDITURE ON Raising funds 2 - Charitable activities Charitable activities 7,822 Other 2,093 Total 9,915 NET INCOME/(EXPENDITURE) (1,987) RECONCILIATION OF FUNDS Total funds brought forward 25,034 TOTAL FUNDS CARRIED FORWARD 23,047 |
2023 Total funds £ 5,011 114 8,233 980 9,327 (4,316) 29,350 25,034 |
|---|---|
The notes form part of these financial statements
Page 3
GRAVITY HQ
BALANCE SHEET
1ST NOVEMBER 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Debtors 5 - Cash at bank 23,047 23,047 NET CURRENT ASSETS 23,047 TOTAL ASSETS LESS CURRENT LIABILITIES 23,047 NET ASSETS 23,047 FUNDS 6 Unrestricted funds 23,047 TOTAL FUNDS 23,047 |
2023 Total funds £ 5,000 20,034 25,034 25,034 25,034 25,034 25,034 25,034 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 12th November 2024 and were signed on its behalf by:
13/11/2024
G Gul - Trustee
The notes form part of these financial statements
Page 4
GRAVITY HQ
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST NOVEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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 as 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 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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. RAISING FUNDS
Investment management costs
| Investment management costs | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Fund raising | - | 114 |
continued...
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GRAVITY HQ
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST NOVEMBER 2024
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 1st November 2024 nor for the year ended 1st November 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 1st November 2024 nor for the year ended 1st November 2023.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Charitable activities | |
| Charitable activities | 5,011 |
| EXPENDITURE ON | |
| Raising funds | 114 |
| Charitable activities | |
| Charitable activities | 8,233 |
| Other | 980 |
| Total | 9,327 |
| NET INCOME/(EXPENDITURE) | (4,316) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 29,350 |
| TOTAL FUNDS CARRIED FORWARD | 25,034 |
continued...
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GRAVITY HQ
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST NOVEMBER 2024
5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other debtors | - | 5,000 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 2/11/23 £ |
Net movement in funds £ |
At 1/11/24 £ |
|
| General fund | 25,034 | (1,987) | 23,047 | |
| TOTAL FUNDS | 25,034 | (1,987) | 23,047 | |
| Net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|
| General fund | 7,928 | (9,915) | (1,987) | |
| TOTAL FUNDS | 7,928 | (9,915) | (1,987) | |
| Comparatives for movement in funds | ||||
| Unrestricted funds | At 2/11/22 £ |
Net movement in funds £ |
At 1/11/23 £ |
|
| General fund | 29,350 | (4,316) | 25,034 | |
| TOTAL FUNDS | 29,350 | (4,316) | 25,034 | |
continued...
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GRAVITY HQ
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST NOVEMBER 2024
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | Movement | |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 5,011 | (9,327) | (4,316) | |
| TOTAL FUNDS | 5,011 | (9,327) | (4,316) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net At movement At 2/11/22 in funds 1/11/24 £ £ £ 29,350 (6,303) 23,047 29,350 (6,303) 23,047 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 12,939 (19,242) |
(6,303) |
| TOTAL FUNDS | 12,939 (19,242) |
(6,303) |
continued...
Page 8
GRAVITY HQ
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST NOVEMBER 2024
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 1st November 2024.
Page 9
GRAVITY HQ
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST NOVEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Charitable activities | ||
| Charitable activities | 7,928 | 5,011 |
| Total incoming resources | 7,928 | 5,011 |
| EXPENDITURE | ||
| Investment management costs | ||
| Fund raising | - | 114 |
| Charitable activities | ||
| Charitable project activities | 7,822 | 8,233 |
| Support costs | ||
| Governance costs | ||
| Equipments and storage | 1,341 | 293 |
| Insurance | 182 | 147 |
| Accountancy and legal fees | 570 | 540 |
| 2,093 | 980 | |
| Total resources expended | 9,915 | 9,327 |
| Net expenditure | (1,987) | (4,316) |
This page does not form part of the statutory financial statements
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