OpenCharities

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

2023-02-28-accounts

Charity No. CE107400 (England and Wales)

HEARTS AND HELPERS

Annual Report and Unaudited Financial Statements

Period of accounts

Start date: 01 March 2022 End date: 28 February 2023

HEARTS AND HELPERS Contents Page For the year ended 28 February 2023

Company information 3
Trustees' report 4
Independent Examiner's report 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the financial statements 9

2 of 14

HEARTS AND HELPERS Company Information For the year ended 28 February 2023

Trustees Jubedul Miah
Firat Mustafa
Mark Hutchings
Charity Number CE017400
Registered Office 114 Peregrine Point
5 Alma Road
Enfield
EN3 4FW
Accountants Cubed Consultancy Limited
6-7 Waterside
Station Road
Harpenden
Hertfordshire
AL5 4US

3 of 14

HEARTS AND HELPERS Trustees' Report and Independent Examiners Report For the year ended 28 February 2023

The trustees’ present their annual report and the financial statements for the year ended 28 February 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity’s objectives are as follows:

The trustees’ have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake, the main activities are as follows:

Achievements and Performance

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

4 of 14

HEARTS AND HELPERS Trustees' Report and Independent Examiners Report For the year ended 28 February 2023

Structure, governance and management

The charity is a charitable incorporated organisation (CIO).

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

J Miah F Mustafa M Hutchings

Trustee recruitment:

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

The charity is directed by 3 trustees as named above and managed by Adrian White. The charity is mainly volunteer supported but other employees are recruited on a project-to-project basis dependent on expertise and funding. The trustees' report was approved by the Board of Trustees.

This report was approved by the Board of Trustees:

J Miah

Trustee

Date approved: 19 December 2023

5 of 14

HEARTS AND HELPERS Trustees' Report and Independent Examiners Report For the year ended 28 February 2023

I report to the trustees on my examination of the financial statements of Hearts and Helpers for the year ended 28 February 2023 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011('the Act'). The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and 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.

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 in, any material respect:

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.

.................................................... Cubed Consultancy Limited 6-7 Waterside Station Road Harpenden Hertfordshire AL5 4US 19 December 2023

6 of 14

HEARTS AND HELPERS Statement of Financial Activities

For the year ended 28 February 2023

Unrestricted
Funds
2023
Notes
£
Income from:
Donation and legacies
3
10,021
Expenditures on:
Charitable Activities
4
2,331
Net income for the year/
Net movement in funds
7,690
Fund balances at 1 March 2022
3,317
Fund balances at 28 February 2023
11,007		 Restricted
Funds
2023
£
15,776
50,306
(34,530)
37,457
2,927		 Total
2023
£
25,797
52,637
( 26,840)
-
13,934		 Total
2022
£
106,892
-
73,220
33,672
40,774
-

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

7 of 14

HEARTS AND HELPERS Statement of Financial Position

For the year ended 28 February 2023

Fixed assets
Notes
Tangible fixed assets
8
Current assets
Cash at bank and in hand
Creditors: amount falling due within one year
9
Net current assets
Total assets less current liabilities
Net assets
Funds
Restricted funds
Unrestricted funds
Total funds carried forward		 2023
£

1,415

13,410
(891)
12,519
13,934
13,934
2,927
11,007
13,934		 2022
£
996
996
41,236
(1,458)
39,778
40,774
40,774
37,457
3,317
40,774

For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Trustees' responsibilities:

  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

  2. The trustees acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.

The financial statements were approved by the Board of Trustees on 19 December 2023 and were signed on its behalf by:

J Miah

Trustee

8 of 14

HEARTS AND HELPERS Notes to the Financial Statements For the year ended 28 February 2023

General Information

Hearts and Helpers is a private company, limited by guarantee, registered in England and Wales, registration number CE017400, registration address 114 Peregrine Point, 5 Alma Road, Enfield, EN3 4US.

The presentation currency is £ sterling.

1. Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

9 of 14

HEARTS AND HELPERS Notes to the Financial Statements For the year ended 28 February 2023

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible Fixed Assets

Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life.

Fixtures and Fittings 20% Straight line on cost

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2. Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

10 of 14

HEARTS AND HELPERS Notes to the Financial Statements For the year ended 28 February 2023

3. Donations and Legacies

Income from:
Donation and legacies
Grants
Expenditures on:
Charitable Activities
Net income for the year/ Net
movement in funds
Fund balances at 1 March 2022
Fund balances at 28 February 2023		 Unrestricted
Funds
2023
£
10,021
-
10,021
2,331
7,690
3,317
11,007		 Restricted
Funds
2023
£
-
15,776
15,776
50,306
(34,530)
37,457
2,927		 Total
2023
£
10,021
15,776
25,797

52,637
(26,840)
-
13,934		 Total
2022
£
5,096
101,796
106,892

73,220
33,672
40,774
7,102

11 of 14

HEARTS AND HELPERS

Notes to the Financial Statements For the year ended 28 February 2023

4. Charitable Activities

Activities from Unrestricted Funds
Allotment Costs
Cafe Renovation (Give - a Car)
Community Fridge (Co-Op)
FFS (Allotment Costs)
Alma Community Grant Activities
Housing & RRS
Accountancy Fees
Consultant (Charity Management)
Advertising/Promotional
Insurances
Legal & Professional Fees
Light and Heat
Motor running expenses
Office/General Administrative Expenses
Payroll Expenses
Printing, Postage and Stationery
Rent or Lease of Buildings
Repairs and maintenance
Subscriptions

Travelling Expenses
Volunteer Training
Marketing
Fixtures + Fittings Depn charge
Share of governance costs
Analysis by funds
Unrestricted Funds
Restricted Funds		 Unrestricted
Charitable
Expenditure
2023
£
220
-
-
-
1,644
-

459
-
-
-
-
-
-
8
-
-
-
2,331
-
2,331
2,331
-
2,331		 Restricted
Charitable
Expenditure
2023
£
-
12,177
3,260
615
3,489
-
5,378
-
16,121
78
-
100
587
517
-
-
-
5,681
286
-
1,465
135
-
416
50,306
-
50,306
-
50,306
50,306		 Total
2023
£
220
12,177
3,260
615
3,489
-
5,378
1,644
16,121
78
459
100
587
517
-
-
-
5,681
286
8
1,465
135
-
416
52,637
-
52,637
2,331
50,306
52,637		 Total
2022
£
3,168
10,406
-
-
1,778
11,875
2,909
12,400
242
444
1,350
405
17,550
179
7,689
-
80
2,272
224
-
249
73,220
-
73,220
6,984
66,236
73,220

12 of 14

HEARTS AND HELPERS Notes to the Financial Statements For the year ended 28 February 2023

5. Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6. Average number of employees

Average number of employees during the year was 1 (2022: 2).

7. Operating profit/(loss)

Operating profit/(loss)
2022 2021
£ £
The operating profit is stated after charging:
Depreciation of tangible fixed assets 416 249

8. Tangible fixed assets

Cost or valuation
At 01 March 2022
Additions
Disposals
At 28 February 2023
Depreciation
At 01 March 2022
Charge for year
On disposals
At 28 February 2023
Net book values
Closing balance as at 28 February 2023
Opening balance as at 01 March 2022		 Plant and
Machinery
£
820
835
-
1,655
164

331
-
495
1,160

656		 Fixtures and
Fittings
£
425
-
-
425
85

85
-
170
255

340		 Total
£
1,245
835
-
2,080
249
416
-
665
1,415
996

13 of 14

HEARTS AND HELPERS Notes to the Financial Statements For the year ended 28 February 2023

9. Creditors: amount falling due within one

year

9.Creditors: amount falling due within one
year
Trade Creditors
Accrued Expenses		 2023
£
891
0
891		 2022
£
0
1,458
1,458

14 of 14