The Kevin Cruise Foundation
Financial Statements
for the year ended 31 December 2021
Registered Charity Number 1183164
The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
| Contents | ||
|---|---|---|
| Trustees’ Report | 3 | |
| Income and Expenditure | 6 | |
| Statement of Financial Affairs | 7 | |
| Notes to the financial statements | 8 |
Registered Charity Number 1183164 Page 2
The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
Trustees’ Report
The trustees are pleased to present the income and expenditure, statement of financial position and accompanying explanatory notes for The Kevin Cruise Foundation for the year ended 31 December 2021.
Basis of preparation
The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the generally accepted accounting practice applicable in the United Kingdom.
Trustees
The following individuals acted as trustees until the 31 December 2021:
Martin Cabble‐Reid
Stephanie James
Julie Ann Edwards
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the incoming resources and application of resources, including the income and expenditure for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
Trustees’ Report (continued)
Review of activities undertaken and financial performance (continued)
During the year, The Kevin Cruise Foundation has undertaken several activities, on behalf of the Charity, which have generated a surplus available for future projects. These activities have been designed with a specific fund generating intention. These surpluses have been allocated throughout the year to specific projects, or as emergency funds distribution, whichever was deemed most appropriate by the trustees.
During the year ended 31 December 2021, The Kevin Cruise Foundation generated funds of £24,012, incurring a surplus of £9,337. The notes to these financial statements on pages 5 and 6 detail the full distributions made by the Charity during the year.
We have reviewed the financial statements and believe them to be a true and fair reflection of The Kevin Cruise Foundation during the year ended 31 December 2021.
Signed on behalf of the trustees:
Martin Cabble‐Reid
Stephanie James
Julie Edwards
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The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
Income and Expenditure
| 2021 | 2021 | 2020 | 2020 | ||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Incomefrom charitable activities: | 1 | ||||
| Internally generated income | 13,421 | 2,390 | |||
| Incomegenerated from donations | 1,591 | 4,194 | |||
| Incomegenerated fromgrants | 9,000 | 0 | |||
| Expenditure | 2 | (14,675) | (13,113) | ||
| (6,528) | |||||
| Surplus/(Deficit)for theyear | 9,337 | (6,528) |
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The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
Statement of Financial Position
| 2021 | 2021 | 2020 | 2020 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | |||
| Fixed assets | |||||
| Current assets Bank and cash at hand |
11,930 | 2,593 | |||
| Donations receivable | ‐ | ‐ | |||
| Total current assets | 11,930 | 2,593 | |||
| Creditors falling due in less than oneyear |
|||||
| Services Agreed | 3 | ‐ | ‐ | ||
| Loans repayable | ‐ | ‐ | |||
| Total current liabilities | ‐ | ‐ | |||
| Total assets less current liabilities |
11,930 | 2,593 | |||
| Creditors falling due after more than oneyear |
‐ | ‐ | |||
| Net assets | 2,593 | ||||
| Charity funds | 4 | ||||
| Unrestricted income funds | 830 | 593 | |||
| Restricted income funds | 11,100 | 2,000 | |||
| Total charityfunds | 11,930 | 2,593 |
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The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
Notes to the financial statements
1. Income from charitable activities
Income generated from charitable activities in the year has been split into three categories:
i) Internally generated income
This represents income arising from activities planned and carried out solely by The Kevin Cruise Foundation on behalf of the charity. These activities incurred costs which have been disclosed as a separate line on the Income and Expenditure.
- ii) Income generated from donations
This represents income arising from private donations made to the charity
- iii) Income generated from grants
This represents income arising from successful applications for funding grants.
2. Expenditure during the year
The expenditure incurred was as a result of specific activities to fulfil our public benefit and as part of expenses incurred to run our fundraising events as follows:
| 2021 | |
|---|---|
| Management Fees | 700.00 |
| Administration Fees | 87.98 |
| Marketing | 29.99 |
| Panto Project 2021 | 8,390.50 |
| Kevin Cruise Ball 2021 | 5,466.94 |
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The Kevin Cruise Foundation
Financial statements for the year ended 31 December 2021
Notes to the financial statements (continued)
Notes to the financial statements (continued)
3. Services Agreed
At the statement of financial position date, no funds have been held in respect of invoices yet to be paid.
4. Charity Funds
The Trustees of The Kevin Cruise Foundation gave consideration to the requirement to hold a reserve in the charity account in order to pay for initial outgoings for events and the like. The Trustees felt this was prudent, and a reserve of £830 was agreed and retained. No restrictions are applicable to this reserve.
At the statement of financial position date, £2,000 was held in charity funds in respect of the Kevin Cruise Foundation Ball 2022 to enable advance booking of the ball venue. In addition, reserves are held to facilitate our charitable purposes including £2,000 for the Panto Project, £1,600 for Easter Theatre Workshops, £5,500 for scholarship awards.
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