The Charity Registration Number is : 1181558
The Olive Trust
Report and Accounts
31 December 2022
## **The Olive Trust**
## **Report and accounts for the year ended 31 December 2022**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**|2 to 9||
|**Independent Accountant's Report**|10 to|11|
|**Statement of Financial Activities**||12|
|**Income and Expenditure account**||13|
|**Balance sheet**||14|
|**Notes to the accounts**|15 to|16|
|**Detailed analysis of Income and Expenditure**|17 to|18|
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
The Trustees present their Report and Accounts for the year ended 31 December 2022.
## **Reference and administrative details**
The legal name of the charity is: The Olive Trust.
The charity is also known by its operating name, The Olive Trust.
## _**The charity's UK charitable registration and areas of operation**_
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1181558.
.
The charity does not operate in any overseas jurisdictions.
## _**Legal structure of the charity**_
The charity is constituted as a Charitable Incorporated Organisation (CIO) in England & Wales. The governing document of the charity is the constitution of the CIO as approved by the Charity Commission in England & Wales (CCEW) .
There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law.
The trustees are all individuals.
**The principal operating address, telephone number, email and web addresses of the charity are:**
20 Elliot Close
Oadby , Leicester LE2 4UN Telephone 07702072722
Email Address hello@theolivetrust.org Web address www.theolivetrust.org
## **The Trustees in office on the date the report was approved were:**
Mr Junaid Vindhani
Mr Abdul Gaffar Rafiq Vindhani Mr Billal Rafiq Vindhani Mr Zuber Rafiq Vindhani
## **The following persons served as Trustees during the year ended 31 December 2022 :-**
The trustees who served as a trustee in the reporting period were as shown above, and there were no changes during the year, or in the period between the year end and the approval of the accounts.
1
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## **Objects and activities of the charity**
## _**The purposes of the charity is as set out in its governing document.**_
The purpose of the OT is to provide financial intervention to those identified as being in need. This is usually in a crisis/emergency type situation.
Aligned with the trust’s objectives, we believe that individuals have the right to a basic standard of living, which includes but is not exhaustive access to good quality accommodation, food, clothing, and other amenities that will help them to improve their quality of life.
The OT actively works with partner agencies to provide financial support in the form of grants to help individuals (as identified by the referrer) as needing support. This support is in the form of a one-off payment paid directly to the referrer.
## _**The main activities undertaken in relation to those purposes during the year.**_
We have continued our support of local agencies namely Shelter Housing Advice and the Red Cross. With the former, our support has been on an ad hoc basis where we respond to a request for support as and when an application is received. With the latter, our support is more time focused by way of a more targeted project specific response.
We have formed a new partnership with another agency that supports women fleeing domestic violence. This is in its early stages, but the hope is that in time we will be able to provide support to clients being referred by them.
## _**The main activities undertaken during the year to further the charity's purpose for the public benefit.**_
The Olive Trust actively works to alleviate hardship experienced by individuals. To do this, we recognise the need to work in collaboration with the local voluntary sector. This not only helps to establish the OT as a recognised agency but also helps widen our reach to those individuals that need our support. We rely on our partners to recognise our work, and to consider the OT when mapping out support for their client (s).
Furthermore, we are continuing to establish additional income streams to ensure long term sustainability and therefore allowing the trust to continue with its work. For example, we have registered on retail platforms such as Amazon and eBay where we are able to receive donations from consumers each time they make a purchase.
## **The main achievements and performance of the charity during the year.**
In terms of achievements, we believe that the trust has made a significant impact on each individual/family that it has supported in the last year. For example, we have made monetary contributions towards rent deposits to help secure accommodation for recipients. This is not only aligned with our core objectives but is also key in securing future funding from donors.
2
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## _**The difference the charity's performance during the year has made to the beneficiaries of the charity.**_
As mentioned above, our intervention has been the difference between a family being able to move out of insecure temporary accommodation into a private let tenancy of their own. This not only avoids further disruption in their lives but also gives them the stability that comes with having basic needs met.
We continue our work by relying on receiving applications from partner agencies. Given that we do not have a ‘front line’ service we need our partners who work with individuals in some form of support capacity to identify a need, and then complete an application to the trust outlining the need of the grant. Once an application is received, we endeavour to respond within three days with an outcome and/or transfer of funds to the referring agency.
## _**The degree to which the achievements and performance during the year have benefited wider society.**_
The OT works to ensure continuity of its primary objectives. Each approved application is significant in the difference that it makes to the recipient in not only meeting their immediate need but also in the wider more lasting impact that an improvement in their personal circumstances can bring. In terms of hierarchy of needs, a secure base is the very foundation needed to be able to seek and have other needs met.
Our partnerships with local agencies in the voluntary sector are a relationship based on shared goals. As a trust we want to continue and widen our reach in supporting those most in need. To do this, we rely on agencies to identify need (s) and then make an appropriate referral to us.
## **Structure, governance and management of the charity**
## _**The methods used to recruit and appoint new charity trustees.**_
There are currently four trustees appointed at The OT, the same trustees appointed at the time of establishment in January 2019.
Should a current trustee decide to resign from their position the process of recruiting into the vacant position is as follows:
- 1.Advertise the role on Indeed and various social media platforms.
- 2.Shortlist and interview candidate.
- 3.Voted into role by board
## _**How the charity makes decisions and how decisions are delegated.**_
The OT makes decisions collaboratively. We meet monthly where an agenda is set, and relevant items are discussed. Any decisions pertinent to the operational management of the trust are made by the trustees.
There is also an appointed coordinator whose primary role is to screen applications and if approved to pass them to finance for payment. This is a voluntary role.
3
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## **Financial review**
## _**The charity's financial position at the end of the year ended 31 December 2022**_
The financial position of the charity at 31 December 2022 as more fully detailed in the accounts, can be summarised as follows:-
|**Total Funds**
**Net income**
Unrestricted Revenue Funds available for the
general purposes of the charity|**2022**
**£**
(386)
37,830
37,830|
|---|---|
## _**Financial review of the position at the reporting date, 31 December 2022 .**_
From a financial perspective the Board of Trustees recognises we are operating in an extremely challenging set of circumstances with the austerity cuts that have taken place in recent times and the post pandemic world that has now become our new normal.
These financial constraints impact significantly upon a charity such as ourselves who work with some of the most economically deprived members of society.
The statement of financial activities shows a total income of £277 and expenditure of £663. The remaining balance is wholly comprised of unrestricted funds. These are funds that are available for the charity to spend upon fulfilling its objects in such ways as the trustees see fit.
In addition, the Trustees recognise that new and innovative ways of raising funds will need to be considered and implemented over the next 12 to 18 months and this is something that is being taken very seriously.
4
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## _**Policies on reserves.**_
The Olive Trust has established a reserve to ensure financial stability and a means of continuity of our primary objective. The trustees intend to maintain financial reserves of at least £5,000, held as unrestricted funds.
This contingency approximates maintain services equivalent to three month's expenditure, covering costs and expenses including any fundraising initiatives. The trustees have attempted to keep operating costs to a minimum, close to zero where possible. However, this will likely change in the coming years as the trustees seek to embed fundraising mechanisms to allow The Olive Trust to replenish funds to continue to meet future objectives.
The trustees periodically review the amount of funds and reserves required to track expenditure to date as well as to ensure there is financial longevity for the trust to continue its work.
Any operating expenses are streamlined therefore giving the reserve fund more. The trustees are committed to ensuring that the reserves shall not fall below the minimum threshold of three months operating expenses. By instilling financial discipline in a time where some charities are being forced to close due to lack of resources, The Olive Trust strives to ensure longevity to be able to continue to support the local community and those most in need.
5
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## _**Plans For the Future**_
With nearly 50,000 people on the waiting list for mental health services in Leicester (Dec 2022), the prevalence of poor mental health in our community is growing rapidly. We also know that therapy can be expensive and this a barrier for lots of people. It doesn’t feel right that therapy should only be available to those who can afford it.
It is for this reason, The OT is seeking to re-address this by intending to provide a low cost, or in some cases, funded counselling and psychotherapy service to the residents of Leicester and Leicestershire.
This will eventually see the OT branch from its current core objectives and move towards helping remove barriers of accessing mental health services in the region.
This transition period will span from July 2023 to December 2023, with the eventual aim of servicing a minimum of three users by the end of this timeframe as a measure of success.
An allocated budget of £6,000 will cover the initial resource costs that are required to create and and bring to launch an integrated psychotherapy service, with the intention of gradually shifting the responsibility of ongoing funding to the OT’s fundraising arm.
Highlighting the lead therapist's specialisation in trauma recovery, specifically focusing on women who have experienced trauma and abuse, may set the charity apart in its unique expertise and support in the Leicester region. However, this will become more apparent as the plan begins execution and partnerships begin to be forged.
The transition period will be used to create this service from the ground up, focusing on the following areas between July 23 - Dec 23:
Branding and Identity: This transition provides the opportunity to reinvent the brand identity for the OT. This change includes the existing website, branding, directory entries and other client facing content.
Partnerships and Referrals: Establishing partnerships with organisations like Women's Aid Leicester and First Steps Leicester will be pivotal in the referral process. The initial resource will also be required to forge new partnerships with adjacent organisations that can assist the OT to deliver its core objectives.
Operations & Systems:
It will be important to develop secure systems, processes and work-flows that allow the service to be delivered in the most efficient manner possible using a blend of technology. ANy systems installed and operated will need to adhere to Information Commission guidelines for data security. So, an IT professional trustee will be appointed to oversee the IT systems, including the customer relationship management (CRM), ensuring continuous evolution and growth as the OT expands its user base in the future. Marketing & Communication: Utilising Instagram as a platform for visual content and short motivational materials related to mental health and trauma recovery can engage the target audience as well as promoting corporate partnerships as they transpire. The beginnings of this will be the responsibility of the initial resource, serving as a starting point until a suitable time allows for a more dedicated resource to be considered.
Metrics to Measure Impact and Effectiveness: To gauge the impact and effectiveness of the OT’s efforts, several suitable metrics will be considered:
a) Number of Users Served: Tracking the number of individuals who receive psychotherapy services within a given time period will provide an indication of the charity's reach and effectiveness. b) Client Satisfaction Surveys: Implementing surveys or feedback mechanisms to assess client satisfaction and the effectiveness of the therapy services provided will help ensure continuous improvement and address any areas for development.
6
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
c) Referral Rates: Measuring the number of referrals received from partner organisations will reflect the level of trust and collaboration within the network, indicating the value and quality of the services provided.
d) Social Media Engagement: Monitoring metrics such as likes, comments, shares, and follower growth on Instagram and TikTok will provide insights into the reach and engagement of the content, helping to evaluate the effectiveness of the OT’s online presence and messaging.
Funding Strategy:
To secure financial support for the new objectives of the OT, viable funding strategies will be needed, such as engaging with local businesses and organisations. The beginnings of this outreach will be the responsibility of the initial resource, serving as a starting point until a suitable time allows for a more dedicated resource to be considered.
In addition, the OT are also exploring other trading opportunities to increase funding and financial capacity, for example:
Establishing a charity shop, initially with an online presence to keep operating costs to a minimum, seeking donations from the local community.
Currently, donations coming into the OT are primarily from businesses owned and operated by trustees, with a small proportion of donations coming from individuals outside of the trustees.
The charity shop is currently in the development phase, where some goods that have been donated are listed on e-commerce platforms such as eBay to target a wider audience, further trials are required to ensure this project will achieve targets as a source of funding for the OT.
By following these steps and considering the suggested strategies and metrics, the OT can successfully transition to a dedicated integrated psychotherapy service, making a meaningful impact in supporting adults in Leicester.
7
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## **Equality and Diversity**
The Olive Trust champions social inclusion. We consider the people that we work with and those that we support, are equal partners in everything we do.
We aim to respond to the most diverse needs in the most respectful way. We are committed to working in a culture which actively seeks to promote and maintain equality, diversity, inclusion, and fairness for all.
We believe the Olive Trust has the means to enable the people that we work with, by giving them the support and encouragement they need to improve their circumstances and wellbeing. The Olive Trust is committed to anti discriminatory practice, and we ensure we are fully compliant with the Equality Act 2010.
## **Details of The Independent Examiner**
Ikram Ul-Haq
Member of Institute of Financial Accountants
5 Faraday Court Conduit Street Leicester LE2 0JN
8
## **The Olive Trust**
## **Trustees' Annual Report for the year ended 31 December 2022**
## **Statement of Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of
- recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under the Charities Act 2011. 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 are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that , on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
This report was approved by the board of trustees on 29 September 2023.
Junaid Vindhani
Trustee
9
## **The Olive Trust**
## **Report of the Independent Examiner to the Trustees of the charity on the accounts for the year ended 31 December 2022**
I report to the Trustees on my examination of the financial statements of the charity on pages 12 to 18 for the year ended 31 December 2022 which have been prepared in accordance with the Charities Act 2011 (the Act) and with the Financial Reporting Standard 102, (effective 1st January 2016) as modified by FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , and under the historical cost convention and the accounting policies set out on page 17.
## **Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report**
As described on page 7, you, the charity's Trustees, are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(1) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the Governing Document for the conducting of an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or otherwise, and are eligible for independent examination, it is my responsibility to:-
a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Basis of Independent Examiner's Statement and scope of work undertaken**
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act setting out the duties of an independent examiner in relation to the conducting of an independent examination. An independent examination includes a review of the accounting records kept by the charity and of the accounting systems employed by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters. The purpose of the examination is to establish as far as possible that there have been no breaches of charity legislation and that, on a test basis of evidence relevant to the amounts and disclosures made, the financial statements comply with the SORP.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
10
## **The Olive Trust**
## **Independent Examiner's Statement, Report and Opinion**
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by with Section 130 of The Charities Act 2011;
the financial statements do not accord with those records; or
the financial statements do 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;
have not been prepared in accordance with the methods and principles set out in the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP).
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 financial statements to be reached.
## **Signed:-**
Ikram Ul-Haq - Independent Examiner
Institute of Financial Accountants
5 Faraday Court Conduit Street Leicester LE2 0JN
This report was signed on 29 September 2023
11
## **The Olive Trust - Statement of Financial Activities for the year ended 31 December 2022**
## _**Statement of Financial Activities for the year ended 31 December 2022**_
|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
**Income & Endowments from:**
Donations & Legacies
A1
29
Other trading activities
A3
248
**Total income**
**A**
**277**
**Expenditure on:**
Raising funds
B1
33
Charitable activities
B2
630
**Total expenditure**
**B**
**663**
**Net income for the year**
**(386)**
**Net income after transfers**
**A-B-C**
**(386)**
**(386)**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
38,216
**Total funds carried forward**
**37,830**
**Net movement in funds**
**SORP**
**Ref**|**Current year**
**Restricted**
**Funds**
**2022**
**£**
-
-
**-**
-
-
**-**
**-**
**-**
**-**
-
**-**|**Current year**
**Total Funds**
**2022**
**£**
**29**
**248**
**277**
**33**
**630**
**663**
**(386)**
**(386)**
**(386)**
**38,216**
**37,830**|**Prior Year**
**Total Funds**
**2021**
**£**
13,629
-
**13,629**
-
4,800
**4,800**
**8,829**
**8,829**
**8,829**
29,387
**38,216**|
|---|---|---|---|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required
All activities derive from continuing operations
**The notes attached on pages 17 to 18 form an integral part of these accounts.**
**All activities derive from continuing operations**
**The notes attached on pages 17 to 18 form an integral part of these accounts.**
12
## **The Olive Trust - Statement of Financial Activities for the year ended 31 December 2022**
## **The Olive Trust**
## **Income and Expenditure Account for the year ended 31 December 2022 as required by the Companies Act 2006**
|**_Income_**
Income from operations
**Gross income in the year before exceptional items**
**Gross income in the year including exceptional items**
**_Expenditure_**
Charitable expenditure, excluding depreciation and amortisation
Fundraising costs
**Total expenditure in the year**
Tax on surplus on ordinary activities
**Retained surplus for the financial year**
**Net income after tax in the financial year**
**Net income before tax in the financial year**
Investment income|**2022**
**£**
277
**277**
**277**
630
33
**663**
**(386)**
-
**(386)**
**(386)**|**2021**
**£**
13,629
**13,629**
**13,629**
4,800
-
**4,800**
**8,829**
-
**8,829**
**8,829**|
|---|---|---|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 17 to 18 form an integral part of these accounts.**
13
## **The Olive Trust - Balance Sheet as at 31 December 2022**
|Note
**SORP**
**Ref**
**Current assets**
B
Debtors
4
B2
Cash at bank and in hand
B4
**Total current assets**
**Net current assets**
**The total net assets of the charity**
**Restricted funds**
**Unrestricted Funds**
Unrestricted Revenue Funds
8
D3
**Designated Funds**
**Total charity funds**
**The total net assets of the charity are funded by the**|
**2022**
**£**
-
114
37,830
38,102
37,830
38,216
37,830
**37,830**
-
37,830
38,216
37,830
**37,830**
**funds of the charity, as follows:-**|**2021**
**£**
38,216
**38,216**
-
38,216
**38,216**|
|---|---|---|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 11.
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
## **Junaid Vindhani**
Trustee
Approved by the board of trustees on 29 September 2023
**The notes attached on pages 17 to 18 form an integral part of these accounts.**
14
## **The Olive Trust**
## **Notes to the Accounts for the year ended 31 December 2022**
## **1 Accounting policies**
## _**Policies relating to the production of the accounts.**_
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016) and 'FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), published by the Charity Commission in England & Wales (CCEW) , effective January 2016, , and in accordance with all applicable law in the charity's jurisdiction of registration, except that the charity has prepared the financial statements in accordance with the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), in preference to the previous SORP, the SORP 2005, which has been withdrawn, notwithstanding the fact that the extant statutory regulations, the Charities (Accounts and Reports) Regulations 2008 refer explicitly to the SORP 2005. This has been done to accord with current best practice.
## **2 Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. However, currently there are no designated funds.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law. However, currently there are no restricted funds.
There are no endowment funds.
## **3 Remuneration and payments to Trustees and persons connected with them**
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
## **4 Debtors**
|Prepayments and accrued income
**5**
**Income and Expenditure account summary**
**At 1 January 2022**
Surplus after tax for the year
**At 31 December 2022**|**2022**
**£**
-
**2022**
**£**
38,216
(386)
**37,830**|**2021**
**£**
114
**2021**
**£**
29,387
8,829
**38,216**|
|---|---|---|
15
## **The Olive Trust**
## **Notes to the Accounts for the year ended 31 December 2022**
**7 Particulars of how particular funds are represented by assets and liabilities**
|**At 31 December 2022**
Current Assets
**At 1 January 2022**
Current Assets|**Unrestricted**
**funds**
**£**
37,830
**37,830**
**Unrestricted**
**funds**
**£**
38,216
**38,216**|**Designated**
**funds**
**£**
**-**
**Designated**
**funds**
**£**
-
**-**|**Restricted**
**funds**
**£**
-
**-**
**Restricted**
**funds**
**£**
-
**-**|**Total**
**Total**
**Funds**
**Funds**
**£**
**£**
**37,830**
**37,830**
**37,830**
**37,830**
**Total**
**Total**
**Funds**
**Funds**
**£**
**£**
**38,216**
**38,216**
**38,216**
**38,216**|
|---|---|---|---|---|
## **8 Change in total funds over the year as shown in Note 7 , analysed by individual funds**
|**Funds**
**brought**
**forward from**
**2021**
**Movement in**
**funds in 2022**
**£**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
38,216
(386)
**Total unrestricted and designated funds**
**38,216**
**(386)**
**Total charity funds**
**38,216**
**(386)**
**Analysis of movements in funds over the year as shown in Note 8**
**Income**
**Expenditure**
**2022**
**2022**
**£**
**£**
**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
277
(663)
**277**
**(663)**|**£**
**-**
**-**
**-**
**Other**
**Gains &**
**Losses**
**2022**
**£**
-
**-**
**Transfers**
**between**
**funds in 2022**|**Funds carried**
**forward to**
**2023**
**£**
**£**
**37,830**
**37,830**
**37,830**
**37,830**
**37,830**
**37,830**
**Movement**
**Movement**
**in funds**
**in funds**
**2022**
**2022**
**£**
**£**
**(386)**
**(386)**
**(386)**
**(386)**
**Funds carried**
**forward to**
**2023**|
|---|---|---|
- **9 Analysis of movements in funds over the year as shown in Note 8**
16
## **The Olive Trust**
## **Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015**
## _**This analysis is classified by conventional nominal descriptions and not by activity.**_
## **10 Donations, Grants and Legacies**
|**Donations, Grants and Legacies**|||||
|---|---|---|---|---|
|**Donations and gifts from individuals**
**Total Donations, Grants and Legacies**
**Total Donations, Grants and**
**Legacies**
**A1**
Other
AJ Enterprise Ltd
**Total Other Donations**
Various
**Total donations and gifts from**
**individuals**
**Other Donations**|**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
29
**29**
**Current year**
**Unrestricted**
**Funds**
**2022**
**£**
-
-
**-**|**Current year**
**Restricted**
**Funds**
**2022**
**£**
-
**-**
**Current year**
**Restricted**
**Funds**
**2022**
**£**
-
-
**-**|**Current year**
**Total Funds**
**2022**
**£**
**29**
**29**
**Current year**
**Total Funds**
**2022**
**£**
**-**
**-**
**-**|**Prior Year**
**Total Funds**
**2021**
**£**
684
**684**
**Prior Year**
**Total Funds**
**2021**
**£**
12,939
6
**12,945**
**13,629**|
||||||
||**29**|**-**|**29**||
17
## **The Olive Trust**
## **Detailed analysis of income and expenditure for the year ended 31 December 2022 as required by the SORP 2015**
## **11 Expenditure on charitable activities- Grant funding of activities**
**----- Start of picture text -----**
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current Year Funds Funds
2022 2022 2022 2021
£ £ £ £
Grants made to organisations 630 - 630 4,800
Total grantmaking costs B2c 630 - 630 4,800
Breakdown of Grants made to organisations
Current year Current year Current year
Unrestricted Restricted Total Funds
Current Year
Funds Funds
2022 2022 2022
£ £ £
Various 4,800 - 4,800
630 - 630
12 Total Charitable expenditure
Current year Current year Current year Prior Year
Unrestricted Restricted Total Funds Total Funds
Current Year Funds Funds
2022 2022 2022 2021
£ £ £ £
Total grantmaking costs B2c 630 - 630 4,800
Total charitable expenditure B2 630 - 630 4,800
**----- End of picture text -----**
18