OpenCharities

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

2021-10-26-accounts

CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 27 October 2020 Perlod stsrt date To 26 October 2021 Perlod and date Chartty name: DESTINY TRANSFORMERS Charlty reglstration number: 1182865 Objectives and Activities SORP refer•nc• P•o117 Summary ofthe purposes of the charity as sel out In ils ovemin document Summary of the main aclivilies in relation lo those purposes for the public benefit, in particular, the aclivilies, projects or seNSces identified in the accounts. Slalemenl confiming whether the Iruslees have had regard lo the guidance issued by the Chartty Commission on publi¢ benefit Th8 Pr8¥8ntSon and Reliof of Poverty. Parn1 17aTrJ 1.19 Assl8ting tho poor and n••dy to flndlng hope and purpose for Ilving and tran8lomilng and changlng mlndset 80 that th• Indlvldual Is posltlonod to fulfil dgstlnies. Tha Tru•tse8 hav• had r•gard to the guldance18sued by Charlty Comrnlsslon on Public 8eneflt AddStlonal Informatlon loptlonall Youm choose lo include further stalemenls where relevant about.. SORP releFtnce Para 1.38 Policy on grant making Pao 1.38 Policy on social investment including program related investment PaB 1.38 Contribution made by volunteers Other

Achievements and Perfomiance SORP refwence The charity ha$ beon able to help a number of famllies financially and spiritually and are committed to continu• helplng those who are need in the future. Summary of the main achievements of the charity, identifying the difference the charity's work has made lo the circumStan￿S of its beneficiaries and any wider benefits to soriety as a whole. Para 1.20 Addltlonal Informatlon (optlonal) You ma choose to include further slalemenls where relevant about.. Achlevemenls against objectives sel Pafa 141 Performance of fundraising activities against obpctives sel P•ra 141 InvesttTent perfomiance against obie¢lives Para 141 Other

Financial Review Review of the charity's financial position at the end of the eriod Statement explaining the policy for holding reseryes Stalin￿WhY_lheY are held Amount of reserves held Reasons for holding zero reserves Oelails of fijnd materially in deficit Explanation of any uncertainties about the charity o)nlinuing as a going concem Par8 121 Paia 1 22 R•$erve$ are held In the charty bank account untll It Is requlred to be used for charitable activities Pala 122 Pa￿122 Pard 124 Not Appllcable Para 1 23 Addltlonal Informatlon {optlonall You ma choose lo include fvrther stalemenls wherè relèvant about.. The charity's principal sources of funds (including any fundraising) P8r• 147 Inveslmenl policy and objectives including any social investment pollcy adopt8d Para 146 A descdpiion of the pdncipal sks faang the charity Para 148 Olhef

Structure, Governance and Management Description of charity's Irusls.. Type of 9oveming document Para 125 Constltution How is the tharity consliluled? Pard 125 Charltsble Incorporated Organlsatlon Tfu51ee selection methods including details of any conslitulional provisions e.g. election lo post or name of any person or body entslled to appoint one or more trustees Parn125 Elected By Addltlonal Informatlon loptlonall You ma choose lo include furth6r slaltsmènls where relevant about.. Policies and procedures adopted for the induction and training of Irusle8S Para 151 The charity's organisalional structure and any wider neiwork with which the chanty works Parn151 Relationship with any ￿lated parties Par8 1 51 Other Reference and Administrative details Chari name Other name the than uses Re islered chaiil number Charity's principal address DESTINY TRANSFORMERS 1182865

Names of the charity trustees who manage the charity Datès aet•d il not for who Trust•• name Offi¢• lif any) Nam? of porson lor btsdyl •ntid•d toa int tru¥tee ilan DORAH KUYORO DEBORAH AKINLADE WHOLE YEAR VVHOLE YEAR OHOURI DENISE BAHON OLUKAYODE AKINM80NI IOLE YEAR WHOLE YEAR 10 12 13 14 15 17 18 19 20 orate trustees- names of the dlreclors al the dale the re Dlrn¢tor nam• rtwasa roved Name of trustees holding lille lo propety belonging lo the charfty Trust•• nam• Dat•* aet•d If not for whol•

Funds held as custodian trustees on behalf of others Description of the assets held in this capaaty Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian chanty's (Jjects Details of arrangements for safe custody and segregation of such assets from the rarity's assets Additional information (optional) Names and addresses of advi$•ryJ (Optional inforrnation) Type of Name Address adviser Name of chiof executive or names of senior staff members (Optional infonnationl Exemptions from disclosure Reason for non-disdosure of k r50nnel details Other o tional infomiation

Declarations The trustees de¢lar• that they have approved the trustees. report above. Signed on behalf of the ¢harity'$ trustees Signaturels) Full narne(s) Position {eg Secretary. Chair, etcl 'ItZo1 S I Date 2t Jb3Z

Destiny Transformers

Charity No. 1182865

Company No. CE017105

Trustees' Report and Unaudited Accounts

26 October 2021

Destiny Transformers Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 26 October 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE017105

Charity No. 1182865

Registered Office

18 Maple Road Hayes UB4 9LP

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

DEBORAH AKINLADE DORAH KUYORO OHOURI DENISE BAHON OLUKAYODE AKINMBONI

Accountants

Navab&Co. Accountants Ground Floor 143-145 Broadway West Ealing London W13 9BE

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

DORAH KUYORO Trustee 26 October 2020

Page 1

Destiny Transformers Independent Examiners Report

Independent Examiner's Report to the trustees of Destiny Transformers

I report to the charity trustees on my examination of the accounts of Destiny Transformers for the year ended 26 October 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (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 charity 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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.

Mr Nawab Karimy ACPA Navab&Co. Accountants Ground Floor 143-145 Broadway West Ealing London W13 9BE 26 October 2020

Page 2

Destiny Transformers Statement of Financial Activities

for the year ended 26 October 2021

Notes
Income and endowments
from:
Donations and legacies
3
Total
Expenditure on:
Raising funds
4
Charitable activities
5
Other
6
Total
Net gains on investments
Net expenditure
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds carried forward		 Unrestricted
funds
2021
£
1,472		 Total funds
2021
£
1,472
1,472
120
1,569
2		 1,472
120
1,569
2
1,691
-		 1,691
-
(219)
-		 (219)
-
(219) (219)
(219) (219)
(219) (219)

Page 3

Destiny Transformers Summary Income and Expenditure Account for the year ended 26 October 2021

Income
Gross income for the year
Expenditure
Total expenditure for the year
Net expenditure before tax for the year
Net expenditure for the year		 2021
£
1,472
1,472
1,691
1,691
(219)
(219)

Page 4

Destiny Transformers Balance Sheet

at 26 October 2021

at 26 October 2021
Company No.
CE017105		 Notes 2021
£
Current assets
Cash at bank and in hand 186
186
Creditors:Amount falling due within one year 8 (405)
Net current liabilities (219)
Total assets less current liabilities (219)
Net liabilities excluding pension asset or liability (219)
Total net liabilities (219)
The funds of the charity
Restricted funds 9
Unrestricted funds 9
General funds (219)
(219)
Reserves 9
Total funds (219)

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 26 October 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 26 October 2020

And signed on its behalf by:

DORAH KUYORO Trustee 26 October 2020

Page 5

Destiny Transformers Notes to the Accounts

for the year ended 26 October 2021

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Income

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 6

Destiny Transformers Notes to the Accounts

Expenditure

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Page 7

Destiny Transformers Notes to the Accounts

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

Page 8

Destiny Transformers Notes to the Accounts

3 Income from donations and legacies

4
Expenditure on raising funds
Costs of generating voluntary
income
5
Expenditure on charitable activities
Expenditure on charitable
activities
Governance costs
6
Other expenditure
General administrative costs
7
Staff costs
No employee received emoluments in excess of £60,000.
8
Creditors:
amounts falling due within one year
Loans from trustees		 Unrestricted
£
1,472
1,472
Unrestricted
£
120
120
Unrestricted
£
650
919
1,569
Unrestricted
£
2
2
2021
£
405
405		 Total
2021
£
1,472
1,472
Total
2021
£
120
120
Total
2021
£
650
919
1,569
Total
2021
£
2
2

Page 9

Destiny Transformers Notes to the Accounts

9 Movement in funds

Restricted funds:
Unrestricted funds:
General funds
Revaluation Reserves:
Total funds
10 Analysis of net assets between funds
Net current assets
11 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 27
October
2020
£		 Incoming
resources
(including
other
gains/losses
)
£
1,472
1,472
Cash flows
£		 Resources
expended
£
(1,691)
(1,691)
Unrestricted
funds
£
(219)
(219)
New
HP/Finance
leases
£		 At 26
October
2021
£
(219)
(219)
Total
£
(219)
(219)
At 26
October
2021
£
- 186 186
-
-		 186
186		 -
-		 186
186

12 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 10

Destiny Transformers Detailed Statement of Financial Activities

for the year ended 26 October 2021

Income and endowments from:
Donations and legacies
Total income and endowments
Expenditure on:
Costs of generating donations and
legacies
Total of expenditure on raising
funds
Charitable activities
Total of expenditure on charitable
activities
General administrative costs,
including depreciation and
amortisation
Postage and couriers
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 -
(219)		 -
-		 Unrestricted
funds
2021
£
1,472
1,472
1,472
120
120
120
650
919
1,569
1,569
2
2
2
1,691
-
(219)
(219)
-
(219)
-
-		 Total funds
2021
£
1,472
1,472
1,472
120
120
120
650
919
1,569
1,569
2
2
2
1,691
-
(219)
(219)
-
(219)
-
(219)		 -
-

Page 11