**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: 1. Bowling 2. Dance and aerobic sessions 3. Magic Shows 4. Animal Shows 5. Walks around local parks and lakes 6. Boot Camp for personal fitness 7. 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... Page 5 **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... Page 6 **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... Page 7 **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 Page 10