2022-12-31-accounts - Choice Through Education UK

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER: 1180314

Report of the Trustees and Financial Statements for the Year Ended 31 December 2022

for

Choice Through Education UK

Contents of the Financial Statements for the Year Ended 31 December 2022

		Page
Report of the Trustees	1	to	3
Statement of Financial Activities		4
Balance Sheet		5
Notes to the Financial Statements		6
Detailed Statement of Financial Activities		7

Choice Through Education UK

Report of the Trustees

for the Year Ended 31 December 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2022. 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

The objectives of the CIO are:

The prevention of poverty of financial hardship anywhere in the world, in particular but not exclusively by providing or assisting in the provision of education, training, health care projects and other facilities and support designed to enable individuals to generate a sustainable income and be self-sufficient; and,
For the public benefit to advance the education of children and young people who are socially and economically or just socially disadvantaged in particular but not exclusively in Kenya, in such way as the diversity trustee, think fit.

Significant activities

The CIO raises money predominantly through donations from businesses and individuals. Distributions are made to charitable projects, and the charity also provides resources and information direct to institutions intended for the benefit of the projects.

Public benefit

The trustees review the objects and activities at least once each year to look at what has been achieved. Reference is made to the guidance in the Charity Commission’s general guidance on public benefit when reviewing objectives and planning future activities. In particular the trustees consider how planned activities will contribute to the objectives set.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

A marginal increase in donations for the year saw the charity turnover amount to £11,116. Of which, the charity made outward donations totalling £11,116 to further support projects in the Kenya region.

FINANCIAL REVIEW

Principal funding sources

The principal source of funding during the year was donations from individuals and businesses.

Financial Review

The receipts and payments account shows a surplus of £54 for the year. The receipts and payments surplus account totals £1,139 at the end of the year, and will be carried forward to be used in future years.

The three trustees operate on a 100% voluntary basis and receive no remuneration or benefits from the charity.

The trustees themselves donate sufficient funds every year to cover any costs which primarily relate to visits to the schools to see the individual sponsored students.

Reserves policy

Surplus funds at the year end which have not been distributed for the objectives of the charity are retained in reserves to be distributed as donations in future accounting periods. The reserves policy is reviewed annually for it's appropriateness in respect to the aims and objectives of the charity.

Risk Management

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing financial statements.

Page 1

FUTURE PLANS

Short term objectives for the future is to ensure the charity has sufficient funds to recover from the adverse impact resulting from the covid-19 pandemic. Additionally, to continue work with the Destiny Gates Foundation on the development of reporting on students for sponsors, towards the objective of reporting updates three times per year.

Longer term aims are to develop the high school, and build the extension for the women’s empowerment centre which will anticipate creating further employment in training roles.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a constitution in respect to CIO’s.

Page 1

Choice Through Education UK

Report of the Trustees for the Year Ended 31 December 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Trustees may be appointed by nomination by existing trustees of the charity, subject to suitable skills and knowledge. Any nomination of new trustees must be formally communicated in writing to the existing members.

Organisational structure

Choice Through Education UK is a charitable incorporated organisation.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1180314

Registered office

5 Green Lane Darley Dale Derbyshire DE4 2GJ

Trustees

W Collins B Thomas G Whisbey

Accountants

A K & Co (Accountancy Services) Dane John Works Gordon Road Canterbury CT1 3PP

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mr W Collins - Trustee

Page 3

Choice Through Education UK

Income Statement

for the Year Ended 31 December 2022

	Year Ended	Year Ended
	31.12.22	31.12.21
	£	£
TURNOVER	11,136	15,569
Administrative expenses	11,082	18,858
OPERATING (DEFICIT)/SURPLUS and
(DEFICIT)/SURPLUS BEFORE TAXATION	54	(3,289)
Tax on (deficit)/surplus	-	-
(DEFICIT)/SURPLUS FOR THE
FINANCIAL YEAR	54	(3,289)

Page 4

Choice Through Education UK (Registered number: )

Balance Sheet 31 December 2022

	2022	2021
	£	£
CURRENT ASSETS
Cash at bank	1,139	1,085
TOTAL ASSETS LESS CURRENT
LIABILITIES	1,139	1,085
RESERVES
Retained earnings	1,139	1,085
	1,139	1,085

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges responsibilities for:

(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 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 company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on ............................................. and were signed by:

........................................................................ Mr W Collins - Trustee

The notes form part of these financial statements

Page 5

Choice Through Education UK

Notes to the Financial Statements

for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Choice Through Education UK is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

The charity is exempt for the provision of corporation tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixed assets are measured at net book value including any revaluation or impairment gains and losses incurring during the year.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

This page does not form part of the statutory financial statements

Page 6

Choice Through Education UK

Detailed Profit and Loss Account for the Year Ended 31 December 2022

Income Donations Expenditure Kenya education project donations Accountancy Finance costs Bank charges NET (LOSS)/PROFIT	Year Ended 31.12.22 £ 10,754 240	£ 11,136 10,994 142 88 54	Year Ended 31.12.21 £ 15,838 2,940	£ 15,569 18,778 (3,209) 80 (3,289)

This page does not form part of the statutory financial statements

Page 7