REGISTERED COMPANY NUMBER: 10345458 (England and Wales) REGISTERED CHARITY NUMBER: 1183365
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2020
for
Hyder Foundation
Danmirr Consultants Business Advisors 170 Church Road Mitcham Surrey CR4 3BW
Hyder Foundation
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | to | 4 |
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Hyder Foundation
Report of the Trustees for the Year Ended 31 August 2020
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 August 2020. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
10345458 (England and Wales)
Registered Charity number
1183365
Registered office
170 Church Road Mitcham CR4 3BW
Trustees
Dr S A Hyder Doctor Mr N Hyder Director Mr M H Nizam Computer Consultant
Company Secretary
Approved by order of the board of trustees on 30 June 2021 and signed on its behalf by:
Dr S A Hyder - Trustee
Page 1
Hyder Foundation
Statement of Financial Activities for the Year Ended 31 August 2020
| 31.8.20 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 5,000 Investment income 2 30,600 Total 35,600 EXPENDITURE ON Charitable activities Charitable Donations 610 Other 1,200 Total 1,810 NET INCOME 33,790 RECONCILIATION OF FUNDS Total funds brought forward 824,850 TOTAL FUNDS CARRIED FORWARD 858,640 |
31.8.19 Total funds £ - 30,600 |
|---|---|
| 30,600 - 1,200 |
|
| 1,200 | |
| 29,400 795,450 |
|
| 824,850 |
The notes form part of these financial statements
Page 2
Hyder Foundation
Balance Sheet 31 August 2020
| Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 10 Unrestricted funds TOTAL FUNDS |
31.8.20 Unrestricted fund £ 784,000 68,850 59,390 128,240 (3,600) 124,640 908,640 (50,000) 858,640 858,640 858,640 |
31.8.19 Total funds £ 784,000 38,250 5,000 43,250 (2,400) 40,850 824,850 - 824,850 824,850 824,850 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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.
The notes form part of these financial statements
Page 3
continued...
Hyder Foundation
Balance Sheet - continued 31 August 2020
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 30 June 2021 and were signed on its behalf by:
Dr S A Hyder - Trustee
The notes form part of these financial statements
Page 4
Hyder Foundation
Notes to the Financial Statements for the Year Ended 31 August 2020
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
Page 5
continued...
Hyder Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| Rents received | 30,600 | 30,600 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Investment income | 30,600 | |
| EXPENDITURE ON | ||
| Other | 1,200 | |
| NET INCOME | 29,400 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 795,450 | |
| TOTAL FUNDS CARRIED FORWARD | 824,850 | |
| 5. | TANGIBLE FIXED ASSETS | |
| Freehold | ||
| property | ||
| £ | ||
| COST | ||
| At 1 September 2019 and | ||
| 31 August 2020 | 784,000 | |
| NET BOOK VALUE | ||
| At 31 August 2020 | 784,000 | |
| At 31 August 2019 | 784,000 |
Page 6
continued...
Hyder Foundation
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 9) 9. LOANS An analysis of the maturity of loans is given below: Amounts falling due in more than five years: Repayable by instalments: BBL Loan 10. MOVEMENT IN FUNDS At 1.9.19 £ Unrestricted funds General fund 824,850 TOTAL FUNDS 824,850 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 35,600 TOTAL FUNDS 35,600 |
31.8.20 31.8.19 £ £ 68,850 38,250 31.8.20 31.8.19 £ £ 3,600 2,400 31.8.20 31.8.19 £ £ 50,000 - 31.8.20 31.8.19 £ £ 50,000 - Net movement At in funds 31.8.20 £ £ 33,790 858,640 33,790 858,640 Resources Movement expended in funds £ £ (1,810) 33,790 (1,810) 33,790 |
|---|---|
Page 7
continued...
Hyder Foundation
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.9.18 | in funds | 31.8.19 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 795,450 | 29,400 | 824,850 |
| TOTAL FUNDS | 795,450 | 29,400 | 824,850 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 30,600 | (1,200) | 29,400 |
| TOTAL FUNDS | 30,600 | (1,200) | 29,400 |
| A current year 12 months and prior year 12 months combined position is as | follows: | ||
| Net | |||
| movement | At | ||
| At 1.9.18 | in funds | 31.8.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 795,450 | 63,190 | 858,640 |
| TOTAL FUNDS | 795,450 | 63,190 | 858,640 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 66,200 | (3,010) | 63,190 |
| TOTAL FUNDS | 66,200 | (3,010) | 63,190 |
Page 8
continued...
Hyder Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 August 2020
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
Page 9
Hyder Foundation
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| Detailed Statement of Financial Activities for the Year Ended 31 August 2020 |
||
|---|---|---|
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 5,000 | - |
| Investment income | ||
| Rents received | 30,600 | 30,600 |
| Total incoming resources | 35,600 | 30,600 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants to individuals | 610 | - |
| Support costs | ||
| Governance costs | ||
| Accountancy and legal fees | 1,200 | 1,200 |
| Total resources expended | 1,810 | 1,200 |
| Net income | 33,790 | 29,400 |
This page does not form part of the statutory financial statements
Page 10