2022-12-31-accounts

Charity number: 1183458

CILANTRO HOPE FOUNDATION

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 - 10

CILANTRO HOPE FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees	Damien Logue, Chair
	Marcus Macdonald, Trustee (appointed 25 January 2023)
	Simon Platt, Trustee
	Justina Simpson, Trustee
	Rory Skelly, Treasurer (resigned 25 January 2023)
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 2022

The Trustees present their Annual Report together with the financial statements of the Charity for the year 1 January 2022 to 31 December 2022. 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 previous financial years.

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 2022

c. Financial summary

During the period, the Charity raised funds totalling £Nil (2021: £nil). At the balance sheet date, the Charity had unrestricted reserves totalling £9,401 (2021: £14,401) 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

................................................

Damien Logue Chair

Date: 25 October 2023

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CILANTRO HOPE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Note Income from: Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2022 £ - 5,000 5,000 (5,000) 14,401 (5,000) 9,401	Total funds 2022 £ - 5,000 5,000 (5,000) 14,401 (5,000) 9,401	Total funds 2021 £ - 500 500 (500) 14,901 (500) 14,401

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 6 to 10 form part of these financial statements.

Page 4

CILANTRO HOPE FOUNDATION

BALANCE SHEET AS AT 31 DECEMBER 2022

Note Current assets Debtors 8 Cash at bank and in hand Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 9 Unrestricted funds 9 Total funds	381 9,020 9,401	2022 £ 9,401 9,401 9,401 - 9,401 9,401	381 14,020 14,401	2021 £ 14,401
				14,401
				14,401
				- 14,401
				14,401

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ Damien Logue Damien Logue Chair

Date: 25 October 2023

The notes on pages 6 to 10 form part of these financial statements.

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CILANTRO HOPE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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 £.

2.2 Going concern

The Charity is reliant upon donations to fund its activities. During the year and 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.

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.

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CILANTRO HOPE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

2. Accounting policies (continued)

2.4 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.

2.5 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.

2.6 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.

2.7 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. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. 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.

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CILANTRO HOPE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4. Analysis of expenditure on charitable activities

Summary by fund type

Donations Total 2021	Unrestricted funds 2022 £ 5,000 500	Total 2022 £ 5,000 500	Total 2021 £ 500

5. Analysis of expenditure by activities

Donations Total 2021	Activities undertaken directly 2022 £ 5,000 500	Total funds 2022 £ 5,000 500	Total funds 2021 £ 500

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CILANTRO HOPE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

6. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 December 2022, no Trustee expenses have been incurred (2021 - £NIL) .

7. Staff costs

There were no employees in the current period.

8. Debtors

Due within one year Prepayments and accrued income	2022 £ 381 381	2021 £ 381
		381

9. Statement of funds

Statement of funds - current year

Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds	Balance at 1 January 2022 £ 14,401 Balance at 1 January 2021 £ 14,901	Expenditure £ (5,000) Expenditure £ (500)	Balance at 31 December 2022 £ 9,401
			Balance at 31 December 2021 £ 14,401

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CILANTRO HOPE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

10. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2022 £ Current assets 9,401 Total 9,401 Analysis of net assets between funds - prior year Unrestricted funds 2021 £ 14,401 Current assets Total 14,401	Total funds 2022 £ 9,401 9,401
	Total funds 2021 £ 14,401 14,401

11. Related party transactions

Other than disclosed elsewhere in these financial statements, there were no transactions with related parties requiring disclosure.

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