DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 **REGISTERED COMPANY NUMBER: 11869649 (England and Wales) REGISTERED CHARITY NUMBER: 1182650** **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** **FOR** **OPEN HANDS OPEN HEAVENS** Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 **OPEN HANDS OPEN HEAVENS** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Statement of Financial Position**||5|| |**Notes to the Financial Statements**|6|to|9| |**Detailed Statement of Financial Activities**||10|| DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 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 March 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 objects of the charity are to advance such charitable purposes as the trustees see fit from time to time, in particular, but not limited to the advancement of the Christian faith for the public benefit and in particular by supporting initiatives and institutions and making grants in furtherance of such charitable purposes. ## **ACHIEVEMENT AND PERFORMANCE** ## **Review of business** The charity is expecting to continue to be a solely grant making organisation for the foreseeable future, providing grants to other established charities who are well placed to ensure that funding is used to reach those most in need. The Trustees continue to manage the activities of the charity, with a particular focus on safeguarding investments given the volatility of current markets. ## **FINANCIAL REVIEW** ## **Reserves policy** At 31 March 2022, the reserves of the charity were £58,412 (2021: £394,978). The board of trustees continue to seek new sources of unrestricted income to increase the charity's reserves to an appropriate level. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The company is registered as a charitable company limited by guarantee and is governed by a Memorandum of Association dated 8 March 2019. ## **Recruitment and appointment of new trustees** The management of the charity is the responsibility of the trustees who are elected under the terms of the constitution.The charity must consist of at least three trustees at any time. ## **Organisational structure** The trustees meet regularly to manage the affairs with the day to day operation and management being undertaken and overseen by all the trustees. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 11869649 (England and Wales) ## **Registered Charity number** 1182650 ## **Registered office** Pump House Thornhill Standish Wigan WN1 2RZ ## **Trustees** R D Winsland D I Moore Ms J R Moore Page 1 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** ## **REPORT OF THE TRUSTEES for the Year Ended 31 March 2022** ## **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** John B S Fairhurst BA (Hons) FCA Independent examiner Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB ## **Bankers** Barclays Bank PLC Wigan Branch Market Place Wigan Lancashire WN1 1QS This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on ............................................. and signed on its behalf by: 13 January 2023 | 07:34 PST ........................................................................ D I Moore - Trustee Page 2 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OPEN HANDS OPEN HEAVENS** ## **Independent examiner's report to the trustees of Open Hands Open Heavens ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company 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 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. John B S Fairhurst BA (Hons) FCA Independent examiner Fairhurst Chartered Accountants Douglas Bank House Wigan Lane Wigan Lancashire WN1 2TB 13 January 2023 | 16:00 GMT Date: ............................................. Page 3 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** ## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2022** |2022
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
40,418
Investment income
2
-
**Total**
40,418
**EXPENDITURE ON**
**Charitable activities**
Grants paid
92,200
General
591
**Total**
92,791
Net gains/(losses) on investments
(284,193)
**NET INCOME/(EXPENDITURE)**
(336,566)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
394,978
**TOTAL FUNDS CARRIED FORWARD**
58,412|2021
Total
funds
£
50,000
97| |---|---| ||50,097| ||32,950
2,940| ||35,890| ||218,316| ||232,523
162,455| ||394,978| The notes form part of these financial statements Page 4 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** ## **STATEMENT OF FINANCIAL POSITION 31 March 2022** |2022
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investments
4
50,014
**CURRENT ASSETS**
Cash at bank
9,398
**CREDITORS**
Amounts falling due within one year
5
(1,000)
**NET CURRENT ASSETS**
8,398
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
58,412
**NET ASSETS**
58,412
**FUNDS**
6
Unrestricted funds:
General fund
58,412
**TOTAL FUNDS**
58,412|2021
Total
funds
£
344,234
51,744
(1,000)
50,744
394,978
394,978
394,978
394,978| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 ............................................. and were signed on its behalf by: 13 January 2023 | 07:34 PST ............................................. D I Moore - Trustee The notes form part of these financial statements Page 5 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 **OPEN HANDS OPEN HEAVENS** ## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2022** ## **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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **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. ## **Support costs** Support costs are those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include office costs, finance, insurance, investment management fees and governance costs which support the charity activities. ## **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. ## **Financial instruments** Short term financial assets are measured at transaction price less any impairment. Short term financial liabilities are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. ## **Fixed asset investments** Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment Page 6 continued... DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 **OPEN HANDS OPEN HEAVENS** **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** ## **2. INVESTMENT INCOME** |**INVESTMENT INCOME**|||| |---|---|---|---| ||2022||2021| ||£||£| |Interest receivable||-|97| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **4. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Listed| ||investments| ||£| |**MARKET VALUE**|| |At 1 April 2021|344,234| |Disposals|(10,027)| |Revaluations|(284,193)| |At 31 March 2022|50,014| |**NET BOOK VALUE**|| |At 31 March 2022|50,014| |At 31 March 2021|344,234| There were no investment assets outside the UK. ## **5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Accrued expenses
**6.**
**MOVEMENT IN FUNDS**|2022
£
1,000|2021
£
1,000| |---|---|---| |||| |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/21
£
394,978
394,978|Net
movement
in funds
£
(336,566)
(336,566)|At
31/3/22
£
58,412| |---|---|---|---| ||||58,412| continued... Page 7 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** ## **6. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
40,418
40,418|Resources
expended
£
(92,791)
(92,791)|Gains and
Movement
losses
in funds
£
£
(284,193)
(336,566)
(284,193)
(336,566)| |---|---|---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/20
£
162,455
162,455|Net
movement
in funds
£
232,523
232,523|At
31/3/21
£
394,978
394,978| |---|---|---|---| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
50,097
50,097|Resources
expended
£
(35,890)
(35,890)|Gains and
Movement
losses
in funds
£
£
218,316
232,523
218,316
232,523| |---|---|---|---| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/4/20
£
162,455
162,455|Net
movement
in funds
£
(104,043)
(104,043)|At
31/3/22
£
58,412
58,412| |---|---|---|---| continued... Page 8 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2022** ## **6. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
90,515
90,515|Resources
expended
£
(128,681)
(128,681)|Gains and
Movement
losses
in funds
£
£
(65,877)
(104,043)
(65,877)
(104,043)| |---|---|---|---| ## **7. RELATED PARTY DISCLOSURES** During the year the charity received donations of £24,418 (2021: £Nil) and expended resources of £1,278 (2021: £4,200) with entities that have a common director or trustee. Page 9 DocuSign Envelope ID: 01D54342-E981-4968-A833-1EF99F008326 ## **OPEN HANDS OPEN HEAVENS** |**OPEN HANDS OPEN HEAVENS**||| |---|---|---| |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**||| |**for the Year Ended 31 March 2022**||| ||2022|2021| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|40,418|50,000| |**Investment income**||| |Interest receivable|-|97| |**Total incoming resources**|40,418|50,097| |**EXPENDITURE**||| |**Charitable activities**||| |Grants|92,200|32,950| |**Support costs**||| |**Governance costs**||| |Accountancy and legal fees|591|2,940| |Total resources expended|92,791|35,890| |**Net (expenditure)/income before gains and**||| |**losses**|(52,373)|14,207| |**Realised recognised gains and losses**||| |Loss on revaluation of investments|(284,193)|218,316| |**Net (expenditure)/income**|(336,566)|232,523| This page does not form part of the statutory financial statements Page 10