REGISTERED COMPANY NUMBER: 11318802 (England and Wales) REGISTERED CHARITY NUMBER: 1181206
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 April 2023
for
Cooper Associates Foundation
Cooper Associates Accountants Ltd 40 St James Buildings St James Street Taunton Somerset TA1 1JR
Cooper Associates Foundation
Contents of the Financial Statements for the Year Ended 30 April 2023
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 7 |
| Detailed Statement of Financial Activities | 8 |
Cooper Associates Foundation
Report of the Trustees for the Year Ended 30 April 2023
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 30 April 2023. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11318802 (England and Wales)
Registered Charity number
1181206
Registered office
40 St James Buildings St James Street Taunton Somerset
Trustees
Mrs S D Jackson K J Parsons N Wyatt T Abell Mrs V Tremear
Approved by order of the board of trustees on 23 February 2024 and signed on its behalf by:
Mrs S D Jackson - Trustee
Page 1
Cooper Associates Foundation
Statement of Financial Activities for the Year Ended 30 April 2023
| 2023 | 2022 | |
|---|---|---|
| Unrestricted | Total | |
| fund | funds | |
| £ | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 38,972 | 15,746 |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Donations | 42,071 | 29,544 |
| Other | 69 | 97 |
| Total | 42,140 | 29,641 |
| NET INCOME/(EXPENDITURE) | (3,168) | (13,895) |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 11,051 | 24,946 |
| TOTAL FUNDS CARRIED FORWARD | 7,883 | 11,051 |
The notes form part of these financial statements
Page 2
Cooper Associates Foundation
Balance Sheet 30 April 2023
| CURRENT ASSETS Notes 2023 Unrestricted fund £ Cash at bank 7,883 NET CURRENT ASSETS 7,883 TOTAL ASSETS LESS CURRENT LIABILITIES 7,883 NET ASSETS 7,883 FUNDS Unrestricted funds 4 7,883 TOTAL FUNDS 7,883 |
2022 Total funds £ 11,051 |
|---|---|
| 11,051 11,051 11,051 |
|
| 11051 | |
| , 11,051 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
-
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that 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 charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 23 February 2024 and were signed on its behalf by:
S D Jackson - Trustee
The notes form part of these financial statements
Page 3
Cooper Associates Foundation
Notes to the Financial Statements for the Year Ended 30 April 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation 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.
continued...
Page 4
Cooper Associates Foundation
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 15,746 |
| EXPENDITURE ON | |
| Charitable activities | |
| Donations | 29,544 |
| Other | 97 |
| Total | 29,641 |
| NET INCOME | (13,895) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 24,946 |
| TOTAL FUNDS CARRIED | |
| FORWARD | 11,051 |
continued...
Page 5
Cooper Associates Foundation
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
4. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | ||||
| movement | At | |||
| At 1.5.22 | in funds | 30.4.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,051 | (3,168) | 7,883 | |
| TOTAL FUNDS | 11,051 | (3,168) | 7,883 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 38,972 | (42,140) | (3,168) | |
| TOTAL FUNDS | 38,972 | (42,140) | (3,168) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.5.21 | in funds | 30.4.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 24,946 | (13,895) | (11,051) | |
| TOTAL FUNDS | 24,946 | (13,895) | (11,051) | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 15,746 | (29,641) | (13,895) | |
| TOTAL FUNDS | 15,746 | (29,641) | (13,895) |
Comparative net movement in funds, included in the above are as follows:
continued...
Page 6
Cooper Associates Foundation
Notes to the Financial Statements - continued for the Year Ended 30 April 2023
4. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.5.21 | in funds | 30.4.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 24,946 | (17,063) | 7,883 |
| TOTAL FUNDS | 24,946 | (17,063) | 7,883 |
| A current year 12 months and prior year 12 months combined net movement in funds, | included in th | ||
| above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 54,718 | (71,781) | (17,063) |
| TOTAL FUNDS | 32,585 | (35,595) | (3,010) |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
5. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2023.
Page 7
Cooper Associates Foundation
Detailed Statement of Financial Activities for the Year Ended 30 April 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Grants to individuals Support costs Management Subscriptions Finance Bank charges Total resources expended Net (expenditure)/income |
2023 £ 2022 £ 38,972 15,746 |
|---|---|
| 38,792 15,746 41,855 29,328 216 216 69 97 |
|
| 42,140 29,641 |
|
| (3,168) (13,895) |
This page does not form part of the statutory financial statements
Page 8