Charity registration No. 1179487
**MEGAN HURLEY FOUNDATION TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021**
**Megan Hurley Foundation Trustees Annual Report and Financial Statements For The Year Ended 30 November 2021**
## **Contents**
|**Contents**||
|---|---|
||**Page**|
|Trustees’ Report|3-5|
|Independent Examiners Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9-10|
**Megan Hurley Foundation Legal and Administrative Information For The Year Ended 30 November 2021**
|**Charity Number**|1179487|
|---|---|
|**Trustees**|Michael Hurley|
||Joanne Hurley|
||Gay Anderson|
||Leanne Owens|
|**Registered Office**|16a Mackets Lane|
||Liverpool|
||L25 0LQ|
|**Bankers**|National Westminster Bank Plc|
||146 Widnes Road|
||Widnes|
||Cheshire|
||WA8 6BB|
|**Independent Examiner**|Adam Swann ACCA|
||Swann Accountants Ltd|
||Incorporated Financial Accountants|
||16a Mackets Lane|
||Liverpool|
||L25 0LQ|
Page 3
**Megan Hurley Foundation Charity No. 1179487 Trustees Report For The Year Ended 30 November 2021**
The Trustees presents their annual report and the financial statements for the period ending 30 November 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO’s constitution, The charities Act 2011 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.
## **Governing Document**
Megan Hurley Foundation is a Charitable Incorporated Organisation, registered with the Charity Commission, governed by its constitution. The CIO was registered on 8 August 2018.
## **Objectives and activities**
The purposes of the charity, as set out in the governing document are to provide short term help and support to self-employed families who are unable to attend work due to the sudden and unexpected loss of a child. The charity may also provide support to other good causes that will benefit children. The trustees abide by charity objectives to accept or decline funding applications.
## **Achievements and performance**
The period of December 2020 to November 2021 remained a challenging year for the Megan Hurley Foundation in being able to build and sustain funds due to the on-going impact of the Covid-19 pandemic. The charity was further unable to proceed with key fundraising activities such as the Megan Hurley Memorial Ball and the annual bike ride. Due to the impact of Covid and the economic climate in the local community we experienced a reduction in donations from the previous year through the collection boxes, collecting £600. We did however receive further donations including a sporting event which raised over £10,000 and we have multiple regular monthly donators.
During the period the charity were able to provide financial support to seven families following their tragic circumstances involving their beloved children.
In the year 2021/22 the charity will continue to experience difficulties in building funds due to the further impact of the economic climate, however, we planned to hold the Megan Hurley Foundation Memorial ball 7th May 2022 and annual bike ride on 25th June 2022.
## **Financial Review**
The trustees are satisfied with the reserves for 2020/21. We continue to promote the charity and build funds to retain a positive position in being able to offer support to eligible families.
Page 4
## **Megan Hurley Foundation Charity No. 1179487 Trustees Report For The Year Ended 30 November 2021**
## **Statement of Trustees Responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing these accounts, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Statement of Recommended Practice Accounting and Reporting by Charities, issued in March 2005;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companies Act 2006. 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.
The Trustees’ report was approved by the board of Trustees on 26 September 2022
Mr Michael Hurley **Trustee**
Mrs Joanne Hurley **Trustee**
Page 5
**Megan Hurley Foundation Independent Examiners Report For The Year Ended 30 November 2021**
## **Independent examiner’s report to the trustees of Megan Hurley Foundation**
I report to the trustees on my examination of the accounts of the charity the year ended 30 November 2021.
## **Responsibilities and basis of report**
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner’s Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
26 September 2022
Adam Swann ACCA Swann Accountants Ltd Incorporated Financial Accountants 16a Mackets Lane Liverpool L25 0LQ
Page 6
**Megan Hurley Foundation Statement of Financial Activities For The Year Ended 30 November 2021**
|Notes
**Income**
**Income and endowments from:**
Donations
Charitable activities
**_Total_**
**Expenditure**
**Expenditure on:**
Raising funds
2
Charitable activities
3
**_Total_**
**Net income**
**_Reconciliation of funds:_**
Total funds brought forward
**_Total funds carried forward_**|**Unrestricted**
**funds**
**£**
6,513
19,803
26,316
1,268
8,544
9,812
16,504
66,630
83,134|**Restricted**
**income funds**
**£**
-
-
-
-
-
-
-
-
-|**Total funds**
**£**
6,513
19,803|
|---|---|---|---|
||||26,316|
||||1,268
8,544|
||||9,812|
|||||
||||16,504|
||||66,630
83,134|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
Page 7
**Megan Hurley Foundation Balance Sheet As at 30 November 2021**
|Notes
**Current Assets**
Cash at bank and in hand
**Total current assets**
**Liabilities**
Creditors: amounts falling due within one year
**Net current assets/(liabilities**)
**Total assets less current liabilities**
**NET ASSETS (LIABILITIES)**
**Funds of the Charity**
Restricted income funds
Unrestricted funds
**TOTAL FUNDS**|
**Unrestricted**
**funds**
**£**
83,134
83,134
-
83,134
83,134
83,134
-
83,134
83,134|**Restricted**
**income**
**funds**
**£**
-
-
-
-
-
-
-
-|**Total for**
**period**
**£**
83,134|
|---|---|---|---|
||||83,134
-
83,134|
||||83,134|
||||83,134|
||||-
83,134|
||||83,134|
The financial statements were approved by The Trustees on 26 September 2022
M Hurley **Trustee**
J Hurley **Trustee**
Page 8
**Megan Hurley Foundation Notes to the Financial Statements For The Year Ended 30 November 2021**
## **1. Accounting Policies**
## **1.1. Basis of Preparation of Financial Statements**
The financial statements have been prepared in accordance with the CIOS’s constitution, the Charities Act 2011 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 CIO is a public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
These financial statements are the first financial statements of the CIO and cover the period the period from incorporation from 23 November 2019 to 30 November 2021.There are no comparative figures to be affected by this extended period of accounts.;
## **1.2. Going Concern**
At the time of approving the financial statements, the Trustees has a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3. Income**
Income is recognised when the CIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the CIO has been notified of the donation, unless performance conditions require deferral of the amount.
## **1.4 Taxation**
The charity is exempt from Corporation Tax on its charitable activities.
## **2. Expenditure**
|**Analysis**
**Expenditure on raising funds:**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
659
-
159
-
450
-
1,268
-|**Total**
**funds**
**£**|
|---|---|---|
|Incurred seeking donations
Advertising and marketing
Staging fundraising events
**Total expenditure on raising funds**||659
159
450
1,268|
## **3. Charitable activities**
|**Expenditure on charitable activities:**
Charitable donations
**Total expenditure on charitable activities**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
8,544
-
8,544
-|**Total**
**funds**
8,544
8,544|
|---|---|---|
Page 9
**Megan Hurley Foundation Notes to the Financial Statements For The Year Ended 30 November 2021**
## **4. Trustees Remuneration and Benefits**
There were no trustees’ remuneration or other benefits for the year ended 30 November 2021
**Trustees’ Expenses**
There were no Trustees’ expenses paid for the year ended 30 November 2021.
4
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