Charity registration number 1183798
Company registration number 10528810 (England and Wales)
HAYDEN FAMILY (UK) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
HAYDEN FAMILY (UK) LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | R Hayden |
|---|---|
| S Hayden | |
| Charity number | 1183798 |
| Company number | 10528810 |
| Registered office | 17 Kensington Park Gardens |
| London | |
| W11 3HD | |
| Independent examiner | Arram Berlyn Gardner LLP |
| 30 City Road | |
| London | |
| EC1Y 2AB |
HAYDEN FAMILY (UK) LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Statement of Trustees' responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 - 13 |
HAYDEN FAMILY (UK) LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual report and financial statements for the year ended 31 December 2021.
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 objects are specifically restricted to, in each case for the public benefit, the advancement of religion, science, literature or education, and the prevention of cruelty to children and animals, or such other exclusively charitable purposes as the Trustees may be in their absolute discretion determined. The policies adopted in furtherance of these objects have not change during the year.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During the year, the Charity did not make any donations.
Financial review
Going Concern
After making appropriate enquiries, the trustees have a reasonable expectation that the Company 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.
Reserve policy
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 sufficient to cover future commitments. 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 balance of cash reserves at 31 December 2021 was £552,211.
Principal funding
During the year the Charitable company did not hold any fundraising activities and all income was generated from voluntary donations.
Investment policy
The Trustees retain the power to invest in such assets as they see fit.
Risk management
The Trustees has assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Charitable company and are satisfied that systems are in place to mitigate exposure to the major risks.
Plan for future periods
The Trustees will continue to support organisations in line with the Charity's objectives.
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HAYDEN FAMILY (UK) LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Structure, governance and management
The company is registered as a members limited liability company and was setup by a Memorandum of Association on 16 December 2016 amended by special resolution dated 27 November 2018 and registered at Companies House on 4 December 2018.
The company is constituted under a Memorandum of Association date 16 December 2016 and is a registered charity number 1183798.
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:
R Hayden S Hayden
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
The Trustees' report was approved by the Board of Trustees.
.............................. .............................. R Hayden S Hayden Trustee Trustee Dated: .........................15 August 2022 Dated:.........................15 August 2022
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HAYDEN FAMILY (UK) LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees, who are also the directors of Hayden Family (UK) Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
-
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; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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HAYDEN FAMILY (UK) LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HAYDEN FAMILY (UK) LIMITED
I report to the Trustees on my examination of the financial statements of Hayden Family (UK) Limited (the charity) for the year ended 31 December 2021.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Arram Berlyn Gardner LLP
30 City Road London EC1Y 2AB
16/8/2022 Dated: .........................
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HAYDEN FAMILY (UK) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted Unrestricted funds funds 2021 2020 as restated Notes £ £ Income from: Donations and legacies 2 359,250 199,375 Investments 3 8,692 9,414 Total income 367,942 208,789 Expenditure on: Charitable activities 4 2,761 4,356 Net gains/(losses) on investments 8 10,926 (32,219) Net movement in funds 376,107 172,214 Fund balances at 1 January 2021 176,105 3,891 Fund balances at 31 December 2021 552,212 176,105 |
Unrestricted Unrestricted funds funds 2021 2020 as restated Notes £ £ Income from: Donations and legacies 2 359,250 199,375 Investments 3 8,692 9,414 Total income 367,942 208,789 Expenditure on: Charitable activities 4 2,761 4,356 Net gains/(losses) on investments 8 10,926 (32,219) Net movement in funds 376,107 172,214 Fund balances at 1 January 2021 176,105 3,891 Fund balances at 31 December 2021 552,212 176,105 |
Unrestricted Unrestricted funds funds 2021 2020 as restated Notes £ £ Income from: Donations and legacies 2 359,250 199,375 Investments 3 8,692 9,414 Total income 367,942 208,789 Expenditure on: Charitable activities 4 2,761 4,356 Net gains/(losses) on investments 8 10,926 (32,219) Net movement in funds 376,107 172,214 Fund balances at 1 January 2021 176,105 3,891 Fund balances at 31 December 2021 552,212 176,105 |
|---|---|---|
| £ | ||
| Income from: | ||
| Donations and legacies 2 |
359,250 | |
| Investments 3 |
8,692 | |
| Total income | 367,942 | |
| Expenditure on: | ||
| Charitable activities 4 |
2,761 | |
| 10,926 | ||
| Net gains/(losses) on investments 8 |
(32,219) | |
| 172,214 3,891 176,105 |
||
| Net movement in funds | 376,107 | |
| Fund balances at 1 January 2021 | 176,105 | |
| Fund balances at 31 December 2021 | 552,212 |
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.
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HAYDEN FAMILY (UK) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| as restated | ||||
| £ | £ | £ | £ | |
| Fixed assets | ||||
| Investments 9 Current assets |
37,204 387,363 424,567 (5,000) |
132,645 419,567 552,212 552,212 552,212 |
41,126 17,138 58,264 (4,820) 176,104 1 |
122,661 |
| Debtors 11 |
||||
| Cash at bank and in hand Creditors: amounts falling due within one year 12 |
||||
| Net current assets | 53,444 | |||
| Total assets less current liabilities | 552,211 1 |
|||
| 176,105 | ||||
| Income funds | ||||
| Unrestricted funds | ||||
| General unrestricted funds | ||||
| Share capital | ||||
| 176,105 | ||||
| 176,105 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
15 August 2022 The financial statements were approved by the Trustees on .........................
.............................. R Hayden Trustee
Company Registration No. 10528810
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
Charity information
Hayden Family (UK) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 17 Kensington Park Gardens, London, W11 3HD.
1.1 Accounting convention
The financial statements have been prepared in accordance 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)". 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 applying FRS 102 Update Bulletin 1 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. 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.
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.
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit and can be measured reliably.
Support costs are those costs incurred directly in support of expenditure of the objects of the Charitable company.
Governance costs are incurred in connection with the administration of the Charitable company and compliance with constitutional and statutory requirements.
Charitable activities and governance costs incurred on the Charitable company operations, including support costs are apportioned to charitable activities.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
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.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 2 Donations and legacies Unrestricted Unrestricted funds funds 2021 2020 £ £ Donations and gifts 359,250 199,375 3 Investments Unrestricted Unrestricted funds funds 2021 2020 £ £ Dividend income 8,650 9,412 Interest receivable 42 2 8,692 9,414 4 Charitable activities Total 2021 Total 2020 £ £ Bank charges (239) 1,536 Accountancy fees 3,000 2,820 Reallocated (2,761) (4,356) - - Share of governance costs (see note 5) 2,761 36,575 2,761 4,356 |
2 Donations and legacies Unrestricted Unrestricted funds funds 2021 2020 £ £ Donations and gifts 359,250 199,375 3 Investments Unrestricted Unrestricted funds funds 2021 2020 £ £ Dividend income 8,650 9,412 Interest receivable 42 2 8,692 9,414 4 Charitable activities Total 2021 Total 2020 £ £ Bank charges (239) 1,536 Accountancy fees 3,000 2,820 Reallocated (2,761) (4,356) - - Share of governance costs (see note 5) 2,761 36,575 2,761 4,356 |
2 Donations and legacies Unrestricted Unrestricted funds funds 2021 2020 £ £ Donations and gifts 359,250 199,375 3 Investments Unrestricted Unrestricted funds funds 2021 2020 £ £ Dividend income 8,650 9,412 Interest receivable 42 2 8,692 9,414 4 Charitable activities Total 2021 Total 2020 £ £ Bank charges (239) 1,536 Accountancy fees 3,000 2,820 Reallocated (2,761) (4,356) - - Share of governance costs (see note 5) 2,761 36,575 2,761 4,356 |
|---|---|---|
| funds | ||
| 2021 | ||
| £ | ||
| 8,650 | ||
| 42 | ||
| 8,692 | ||
| 4 Charitable activities |
||
| Bank charges Accountancy fees Reallocated Share of governance costs (see note 5) |
||
| Total 2021 |
||
| £ | ||
| (239) | ||
| 3,000 | ||
| (2,761) | (4,356) | |
| - 36,575 4,356 |
||
| - | ||
| 2,761 | ||
| 2,761 |
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
5 Support costs
| Support costs | Support costs | Support costs | ||||
|---|---|---|---|---|---|---|
| Support costs Governance costs £ £ Bank charges - (239) |
2021 Support costs Governance costs |
2020 | ||||
| £ | £ | £ | £ | £ | £ | |
| - | ||||||
| Bank charges | (239) | (239) | - | 1,536 | 1,536 | |
| Accountancy | - | 3,000 | 3,000 | - | 2,820 | 2,820 |
| - | 2,761 | 2,761 | - | 4,356 | 4,356 |
6 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was:
| 2021 | 2020 |
|---|---|
| Number | Number |
| 2 | 2 |
There were no employees whose annual remuneration was more than £60,000.
8 Net gains/(losses) on investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Revaluation of investments | 10,926 | (32,219) |
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
9 Fixed asset investments
| Cost or valuation At 1 January 2021 Valuation and forex changes At 31 December 2021 Carrying amount At 31 December 2021 At 31 December 2020 |
Unlisted investments £ 122,661 9,984 132,645 132,645 122,661 2021 2020 £ £ 132,645 122,661 2021 2020 £ £ 1 1 37,203 41,125 37,204 41,126 2021 2020 £ £ 5,000 4,820 2021 2020 £ £ 1 1 1 1 |
|---|---|
| 10 Financial instruments |
2021 |
| Carrying amount of financial assets Instruments measured at fair value through profit or loss 11 Debtors Amounts falling due within one year: Unpaid share capital Other debtors 12 Creditors: amounts falling due within one year |
£ |
| 132,645 | |
| 2021 | |
| £ | |
| 1 | |
| 37,203 | |
| 37,204 | |
| Accruals and deferred income | 2021 |
| £ | |
| 5,000 | |
| 13 Share capital |
2021 |
| Ordinary share capital Authorised 1 Ordinary share of £1 each Issued and fully paid 1 Ordinary share of £1 each |
£ |
| 1 | |
| 1 |
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
14 Analysis of net assets between funds
| Unrestricted funds Unrestricted funds 2021 2020 £ £ Fund balances at 31 December 2021 are represented by: |
Unrestricted funds Unrestricted funds 2021 2020 £ £ Fund balances at 31 December 2021 are represented by: |
Unrestricted funds Unrestricted funds 2021 2020 £ £ Fund balances at 31 December 2021 are represented by: |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Investments | 132,645 | 122,661 |
| Current assets/(liabilities) | 419,567 | 53,444 |
| 552,212 | 176,105 |
15 Related party transactions
During the year the charity entered into the following transactions with related parties:
Donations and gift aid of £359,250 (2020: £199,375) were received from Richard Hayden, a Trustee of the Charitable company.
16 Prior period adjustment
Changes to the statement of financial position
| At 31 December 2020 As previously reported Adjustment As £ £ |
At 31 December 2020 As previously reported Adjustment As £ £ |
At 31 December 2020 As previously reported Adjustment As £ £ |
|
|---|---|---|---|
| restated | |||
| £ | £ | £ | |
| Fixed assets | |||
| Investments | - | 122,661 | 122,661 |
| Current assets | |||
| Debtors due within one year Bank and cash |
1,251 | 39,875 | 41,126 |
| 4,160 | 12,978 | 17,138 | |
| Net assets | 591 | 175,514 | 176,105 |
| Capital funds Income funds |
|||
| Unrestricted funds | 590 | 175,514 | 176,104 |
| Total equity | |||
| 590 | 175,514 | 176,104 |
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HAYDEN FAMILY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
| 16 Prior period adjustment (Continued) Changes to the income statement Period ended 31 December 2020 As previously reported Adjustment As restated £ £ £ Donations and legacies - 199,375 199,375 Investments - 9,414 9,414 Charitable activities 3,300 1,056 4,356 Net gains on investments - (32,219) (32,219) Net movement in funds (3,300) 175,514 172,214 |
16 Prior period adjustment (Continued) Changes to the income statement Period ended 31 December 2020 As previously reported Adjustment As restated £ £ £ Donations and legacies - 199,375 199,375 Investments - 9,414 9,414 Charitable activities 3,300 1,056 4,356 Net gains on investments - (32,219) (32,219) Net movement in funds (3,300) 175,514 172,214 |
16 Prior period adjustment (Continued) Changes to the income statement Period ended 31 December 2020 As previously reported Adjustment As restated £ £ £ Donations and legacies - 199,375 199,375 Investments - 9,414 9,414 Charitable activities 3,300 1,056 4,356 Net gains on investments - (32,219) (32,219) Net movement in funds (3,300) 175,514 172,214 |
16 Prior period adjustment (Continued) Changes to the income statement Period ended 31 December 2020 As previously reported Adjustment As restated £ £ £ Donations and legacies - 199,375 199,375 Investments - 9,414 9,414 Charitable activities 3,300 1,056 4,356 Net gains on investments - (32,219) (32,219) Net movement in funds (3,300) 175,514 172,214 |
|---|---|---|---|
| £ | £ | ||
| - | 199,375 | ||
| - | 9,414 | ||
| 3,300 | 1,056 | ||
| - | |||
| (32,219) | (32,219) | ||
| 172,214 | |||
| (3,300) | 175,514 |
When completing the accounts for the year ended 31 December 2021 it was noted that donations received and the related gift aid claims in 2020 had not been included in the prior year’s accounts. This was due to an administration error and a miscommunication by the Trustees of the date of the donation. The accounts have been restated to adjust for the understated income in the prior year. The change has resulted in net movement in funds for the year 31 December 2020 increasing by £175,514.
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