Yellowsands Foundation Annual Report and Unaudited Financial Statements For the year ended 31 December 2022 Charity Registration No. 1181005 **Yellowsands Foundation Contents** ||**PAGE**| |---|---| |Legal and Administrative Information|1| |Statement of Financial Activities|2| |Balance Sheet|3| |Notes forming part of the Financial Statements|4 - 7| **Yellowsands Foundation Legal and Administrative Information** ## **Charity Name** **Charity Name** Yellowsands Foundation **Charity Number** 1181005 **Trustees** Brett Huggins Clare Scott Spencer John **Registered Office** 36 Glengarry Road London SE22 8QD **Accountants** Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP **Bankers** NatWest 61 Sydenham Road London SE26 5HA Page One ## **Yellowsands Foundation Statement of Financial Activities For the year ended 31 December 2022** |**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and Legacies
**3**
**Total**
**EXPENDITURE ON:**|**Unrestricted**
**Funds**
**2022**
3,895
3,895|**Total**
**year ended**
**2022**
**£**
3,895
3,895|**Total**
**period ended**
**2021**
**£**
113
113| |---|---|---|---| |Charitable activities
**4**|2,936|2,936|4,566| |**Total**
**Net expenditure and net movements in funds**
**RECONCILIATION OF FUNDS:**
Total Funds bought forward
**Total Funds carried forward**|2,936
959
(2,089)
(1,130)|2,936
959
(2,089)
(1,130)|4,566
(4,453)
2,364
(2,089)| Page Two ## **Yellowsands Foundation Balance Sheet As at 31 December 2022** |**Current Assets**
Cash at bank
**Creditors Amounts falling due**
**within one year**
**Net current assets**
**Net assets**
**Funds**
Unrestricted funds
**Total Funds**|**Note**
**7**
**8**|**£**
**£**
70
70
(1,200)
(1,130)
(1,130)
(1,130)
(1,130)
**2022**|**£**
**£**
1,611
1,611
(3,700)
(2,089)
(2,089)
(2,089)
(2,089)
**2021**|**£**
**£**
1,611
1,611
(3,700)
(2,089)
(2,089)
(2,089)
(2,089)
**2021**| |---|---|---|---|---| |||||(2,089)| |||||(2,089)| Approved by the Trustees on **10th December 2024** and signed on their behalf by: ................................................................ **Spencer John** Trustee Charity No. 1181005 Page Three **Yellowsands Foundation Notes to the Financial Statements For the year ended 31 December 2022** ## **1 Accounting Policies** ## **Charity information** Yellowsands Foundation is a charity registered in England and Wales. The registered office is 36 Glengary Road, London, SE22 8QD. ## **1.1 Basis of preparation** The financial statements have been prepared in accordance with 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) and the Charities Act 2011. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The principal accounting policies, which are applied consistently, are set out below. ## **1.2 Going Concern** The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have considered the impact of external factors when making their assessment. Although the charity is in a net liabilities position at year end the expectation is that income will remain steady or increase, while expenditure entirely consists of charitable activities and so in future years will be matched against income. ## **1.3 Incoming Resources** All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability. ## **1.4 Resources Expended** Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. ## **1.5 Fund Accounting** The charity receives donations and uses these as sources for delivery of the aims of the Foundation. ## **1.6 Taxation** The entity is a registered charity and has no trading income, and is therefore exempt from taxation. ## **1.7 Allocation of overhead and support costs** Overhead and support costs have been allocated to charitable activites. The allocation of overhead and support costs is analysed in note 4. ## **1.8 Critical Accounting Estimates and Areas of Judgement** In application of the Charity's accounting policies, the board is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no estimates and assumptions which are believed to have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities in the current period. Page Four ## **Yellowsands Foundation Notes to the Financial Statements (Continued) For the year ended 31 December 2022** ## **1.9 Financial instuments** Debtors and creditors receivable or payable within one year of the reporting date are carried at initially at their transaction price and subsequently at settlement value. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest. Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments valued at the amount prepaid after taking accounts of any trade discounts due. Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. **2. Net expenditure for the year** **----- Start of picture text -----**
This is stated after charging: Unrestricted Unrestricted
2022 2021
£ £
Accountancy fee - 280 1,850
3. Voluntary Income - Donations and Legacies
Unrestricted Unrestricted
2022 2021
£ £
Donations 3,895 113
3,895 113
**----- End of picture text -----**
Page Five ## **Yellowsands Foundation Notes to the Financial Statements (Continued) For the year ended 31 December 2022** |**4.**
**Expenditure**
**Support costs allocated to activities**
Cost of Fundraising
Legal Fees
Accountancy Fees
Marketing
Trustee Expenses
**Charitable activities:**
Grants
Ironman programme
FPS Equipment to School
Summer School Cost
**Total expenditure**
**5.**
**Employee Costs**
Average number of employees
The average monthly number of employees were:|**Unrestricted**
**2022**
**£**
216
-
(280)
1,000
-
936
2,000
-
-
-
2,936
**2022**
-|| |---|---|---| |||**Unrestricted**| |||**2021**
**£**
216
-
1,850
-
-
2,066
2,500
-
-
-
4,566| |||| |||**2021**
-| ## **6. Trustees and Key Management Personnel** None of the trustees received remuneration in the period. No trustee received reimbursement of expenses (2021: £nil). Trustees also paid 2022: £nil (2021: £nil) in legal fees on behalf of the charity which were later reimbursed. |**7.**
**Creditors: Amounts falling due within one year**
Accruals
Other creditors|**2022**
**£**
1,200
-
1,200|**2021**
**£**
1,850
1,850
3,700| |---|---|---| Page Six ## **Yellowsands Foundation Notes to the Financial Statements (Continued) For the year ended 31 December 2022** |**8.**
**Movement in Funds**
Unrestricted Funds
Unrestricted Funds|**At 1 January**
**2021**
**£**
(2,089)
**At 1 January**
**2020**
**£**
2,364|**Income**
**£**
3,895
**Income**
**£**
113|**Expenditure**
**£**
(2,936)
**Expenditure**
**£**
(4,566)|**Transfers**
**£**
-
**Transfers**
**£**
-|**At 31 December**
**2021**
**£**
(1,130)
**At 31 December**
**2020**
**£**
(2,089)| |---|---|---|---|---|---| ## **9. Allocation of Net Assets between Funds** |Unrestricted funds
Total funds
Unrestricted funds
Total funds|**Current**
**Assets**
**£**|**Current**
**Liabilities**
**£**|**Total**
**2021**
**£**| |---|---|---|---| ||||| ||70|(1,200)|(1,130)| ||70|(1,200)|(1,130)| ||**Current**
**Assets**
**£**|**Current**
**Liabilities**
**£**|**Total**
**2020**
**£**| ||||| ||1,611|(3,700)|(2,089)| ||||| ||1,611|(3,700)|(2,089)| ||||| ## **10. Related Party Transactions** There were no related party transactions. Page Seven