**Charity number: 1183458**
## **CILANTRO HOPE FOUNDATION**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **CILANTRO HOPE FOUNDATION**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Notes to the Financial Statements**|6 - 11|
## **CILANTRO HOPE FOUNDATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
**Trustees** Damien Logue, Chair Simon Platt, Trustee Justina Simpson, Trustee Rory Skelly, Treasurer **Charity registered number** 1183458 **Principal office** CILIP 7 Ridgemount Street London WC1E 7AE **Accountants** Goodman Jones LLP Chartered Accountants 29/30 Fitzroy Square London W1T 6LQ
Page 1
## **CILANTRO HOPE FOUNDATION**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees present their Annual Report together with the financial statements of the Charity for the year 1 January 2020 to 31 December 2020. The Trustees confirm that the Annual Report and financial statements of the charitable incorporated organisation comply with the current statutory requirements, the requirements of the charitable incorporated organisation's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
## **Objectives and activities**
## **a. Policies and objectives**
The object of the Charity is the provision of relief and assistance of people in need by reason of youth, age, illhealth, disability, financial hardship, or other disadvantage throughout England and Wales. The Charity provides the relief and assistance through the provision of medical aid and financial support.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Activities undertaken to achieve objectives**
The Charity raises funds from donations, events such as football competitions, and other fundraising activities. The funds raised are distrbuted to causes that provide services to beneficiaries who require support and that are most in need.
## **Achievements and performance**
## **a. Main achievements of the Charity**
During the year, the Charity made donations to other charitable organisations using the funds rasied in the period to 31 December 2019. Fundraising events in 2020 were impacted by the Covid-19 pandemic preventing in person events from taking place.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
It is the intention of the Charity to distribute funds raised to causes and beneficiaries considered to be most in need. As a result, at this stage and given the nature of its activities, the Trustees do not consider it necessary for the Charity to retain funds in reserve.
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## **CILANTRO HOPE FOUNDATION**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **c. Financial summary**
During the period, the Charity raised funds totalling £871 (2019: £22,866). At the balance sheet date, the Charity had unrestricted reserves totalling £14,901 (2019: £21,630) available for distribution as determined by the Trustees.
## **Structure, governance and management**
## **a. Constitution**
Cilantro Hope Foundation is a registered charity, number 1183458, and is constituted as a charitable incorporated organisation under a CIO-Association Constitution dated 16 May 2019.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
**Damien Logue** Chair
Date: 20-10-21
Page 3
## **CILANTRO HOPE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Note**
**Income from:**
Donations and legacies
3
Other trading activities
4
**Total income**
**Expenditure on:**
Raising funds
5
Charitable activities
6
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**31 December**
**2020**
**£**
**871**
**-**
**871**
**-**
**7,600**
**7,600**
**(6,729)**
**21,630**
**(6,729)**
**14,901**|**Total**
**funds**
**31 December**
**2020**
**£**
**871**
**-**
**871**
**-**
**7,600**
**7,600**
**(6,729)**
**21,630**
**(6,729)**
**14,901**|_Total_
_funds_
_Period ended_
_31 December_
_2019_
_£_
_18,256_
_4,610_
_22,866_|
|---|---|---|---|
||||_1,036_
_200_
_1,236_|
||||_21,630_|
||||_-_
_21,630_
_21,630_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 6 to 11 form part of these financial statements.
Page 4
## **CILANTRO HOPE FOUNDATION**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Current assets**
Debtors
10
Cash at bank and in hand
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
11
Unrestricted funds
11
**Total funds**|**381**
**14,520**
**14,901**|**2020**
**£**
**14,901**
**14,901**
**14,901**
**-**
**14,901**
**14,901**|_381_
_21,249_
_21,630_|_2019_
_£_
_21,630_|
|---|---|---|---|---|
|||||_21,630_|
|||||_21,630_|
|||||_-_
_21,630_|
|||||_21,630_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Damien Logue** Chair
Date: 20-10-21
The notes on pages 6 to 11 form part of these financial statements.
Page 5
## **CILANTRO HOPE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. General information**
Cilantro Hope Foundation is a charitable incorporated organisation registered as a charity with the Charity Commission in England and Wales. The Charity's aims are preservation of the provision of relief and assistance to those in need, as stated in the Trustees' Report.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Cilantro Hope Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in Sterling, the functional currency of the Charity, and amounts are rounded to the nearest £. The comparative figures cover a period of less than 12 months as they relate to the period from registration of the Charity in May 2019 to 31 December 2019.
## **2.2 Going concern**
The Charity is reliant upon donations to fund its activities. Since the balance sheet date, operations have been impacted by the Covid-19 pandemic. This may affect the ability to hold fundraising events.
Based on the reassessment of income levels and future plans of the Charity, the Trustees consider that there is no material uncertainty regarding the Charity's ability to continue as a going concern and consequently believe that the financial statements are appropriately prepared on such a basis.
The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **2.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
## **2.4 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
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## **CILANTRO HOPE FOUNDATION**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **2. Accounting policies (continued)**
## **2.5 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.8 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **3. Income from donations and legacies**
|**Unrestricted**
**funds**
**31**
**December**
**2020**
**£**
Donations
871
_Total 2019_
_18,256_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**871**
_18,256_
_18,256_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**871**
_18,256_
_18,256_|
|---|---|---|
||||
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## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **4. Income from other trading activities**
## **Income from fundraising events**
|**Unrestricted**
**funds**
**31**
**December**
**2020**
**£**
Fundraising events
-
_Total 2019_
_4,610_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**-**
_4,610_
_4,610_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**-**
_4,610_
_4,610_|
|---|---|---|
||||
## **5. Expenditure on raising funds**
## **Fundraising trading expenses**
|**Unrestricted**
**funds**
**31**
**December**
**2020**
**£**
Fundraising events
-
_Total 2019_
_1,036_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**-**
_1,036_
_1,036_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**-**
_1,036_
_1,036_|
|---|---|---|
||||
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## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **6. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**31**
**December**
**2020**
**£**
Donations
7,600
_Total 2019_
_200_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**7,600**
_200_
_200_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**7,600**
_200_
_200_|
|---|---|---|
||||
## **7. Analysis of expenditure by activities**
|Donations
_Total 2019_|**Activities**
**undertaken**
**directly**
**31**
**December**
**2020**
**£**
7,000
_200_|**Support**
**costs**
**31**
**December**
**2020**
**£**
600
_-_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**7,600**
_200_
_200_|**Total**
**funds**
**31**
**December**
**2020**
_Total_
_funds_
_Period ended_
_31_
_December_
_2019_
**£**
_£_
**7,600**
_200_
_200_|
|---|---|---|---|---|
||||||
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2019 - £NIL)_ .
During the year ended 31 December 2020, no Trustee expenses have been incurred _(2019 - £NIL)_ .
## **9. Staff costs**
There were no employees in the current period.
Page 9
## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **10. Debtors**
|**Due within one year**
Prepayments and accrued income|**2020**
**£**
**381**
**381**|_2019_
_£_
_381_|
|---|---|---|
|||_381_|
## **11. Statement of funds Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Statement of funds - prior year**
**Unrestricted funds**
General Funds|**Balance at 1**
**January**
**2020**
**£**
**21,630**|**Income**
**£**
**871**
_Income_
_£_
_22,866_|**Expenditure**
**£**
**(7,600)**
_Expenditure_
_£_
_(1,236)_|**Balance at**
**31**
**December**
**2020**
**£**
**14,901**|
|---|---|---|---|---|
|||||_Balance at_
_31_
_December_
_2019_
_£_
_21,630_|
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## **CILANTRO HOPE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Analysis of net assets between funds**
## **Analysis of net assets between funds - current period**
|**Unrestricted**
**funds**
**2020**
**£**
Current assets
14,901
**Total**
14,901
**Analysis of net assets between funds - prior period**
_Unrestricted_
_funds_
_2019_
_£_
Current assets
_21,630_
**Total**
_21,630_|**Total**
**funds**
**2020**
**£**
**14,901**
**14,901**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_21,630_
_21,630_|
## **13. Related party transactions**
Other than disclosed elsewhere in these financial statements, there were no transactions with related parties requiring disclosure.
## **14. Post balance sheet events**
The Covid-19 pandemic and related public safety measures may negatively affect the Charity's ability to hold fundraising events. The ultimate severity of the pandemic and the impact of the related containment measures on the operations of the Charity are uncertain at this time and therefore cannot be estimated.
Page 11