2020-12-31-accounts

Registered number: CE018102 Charity number: 1184268

OSFA

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

OSFA

CONTENTS

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Trustees' Report	2 - 3
Trustees' Responsibilities Statement	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the Financial Statements	7 - 11

OSFA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2020

Trustees A Mortlock, Chair W Toye, Trustee Company registered number CE018102 Charity registered number 1184268 Registered office Haslers Hawke House Old Station Road Loughton IG10 4PL Accountants Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL

Page 1

OSFA

TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2020

The Trustees present their annual report together with the financial statements of the OSFA for the period 4 July 2019 to 31 December 2020. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company'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).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The principal activity of the Charity in the period under review was that of pursuing its objects of providing relief to persons with Asperger’s Syndrome or related or similar conditions.

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)'.

Achievements and performance

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

The trustees/directors are satisfied that the foundation remains solvent and can continue operations. The net movement in total funds was a surplus of £5,068 and reserves remain sufficient to meet the future requirements of the Charity.

Structure, governance and management

a. Constitution

OSFA is registered as a charitable company limited by guarantee and was set up by a Trust deed.

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 Trust deed.

Page 2

OSFA

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2020

Structure, governance and management (continued)

c. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Approved by order of the members of the board of Trustees on 29 March 2022 and signed on their behalf by:

A Mortlock Chair

Page 3

OSFA

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PERIOD ENDED 31 DECEMBER 2020

The Trustees (who are also the directors of the Charity for the purposes 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 period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.

Approved by order of the members of the board of Trustees on 29 March 2022 and signed on its behalf by:

A Mortlock Chair

Page 4

OSFA

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 DECEMBER 2020

Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward	Unrestricted funds Period ended 31 December 2020 £ 34,164 34,164 29,096 29,096 5,068 5,068 5,068	Total funds Period ended 31 December 2020 £ 34,164
		34,164
		29,096
		29,096
		5,068
		5,068
		5,068

The Statement of Financial Activities includes all gains and losses recognised in the period. The notes on pages 7 to 11 form part of these financial statements.

Page 5

OSFA REGISTERED NUMBER: CE018102

BALANCE SHEET AS AT 31 DECEMBER 2020

Note Fixed assets Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 8 Unrestricted funds 8 Total funds	6,568 6,568 (1,500)	2020 £
		- 5,068
		5,068
		5,068
		- 5,068
		5,068

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 29 March 2022 and signed on their behalf by:

A Mortlock

Chair

The notes on pages 7 to 11 form part of these financial statements.

Page 6

OSFA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

1. General information

OSFA is a company, limited by guarantee and incorporated in England and Wales, United Kingdom, with a registration number CE018102. The address of the registered office is Haslers, Hawke House, Old Station Road, Loughton, IG10 4PL.

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 Companies Act 2006.

OSFA 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.

2.2 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.

2.3 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.

2.4 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.

Page 7

OSFA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

2. Accounting policies (continued)

2.5 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.6 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.

2.7 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.

3. Income from donations and legacies

	Unrestricted	Total
	funds	funds
	Period	Period
	ended	ended
	31	31
	December	December
	2020	2020
	£	£
Donations	34,164	34,164

Page 8

OSFA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

4. Analysis of expenditure on charitable activities

Summary by fund type

	Unrestricted	Total
	funds	funds
	Period	Period
	ended	ended
	31	31
	December	December
	2020	2020
	£	£
Direct costs	29,096	29,096

5. Analysis of expenditure by activities

Direct costs Analysis of direct costs Trainer costs	Activities undertaken directly Period ended 31 December 2020 £ 10,815	Support costs Period ended 31 December 2020 £ 18,281 Activities Period ended 31 December 2020 £ 10,815	Total funds Period ended 31 December 2020 £ 29,096
			Total funds Period ended 31 December 2020 £ 10,815

Page 9

OSFA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

5. Analysis of expenditure by activities (continued)

Analysis of support costs

Advertising costs Travel costs Bank charges Sundry expenses Donations Light and heat Insurance costs Equipment costs General expenses Accountancy fees	Activities Period ended 31 December 2020 £ 2,175 1,654 6 350 1,500 4,148 4,732 196 2,020 1,500 18,281	Total funds Period ended 31 December 2020 £ 2,175 1,654 6 350 1,500 4,148 4,732 196 2,020 1,500
		18,281

6. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits.

During the period ended 31 December 2020, no Trustee expenses have been incurred.

Page 10

OSFA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2020

7. Creditors: Amounts falling due within one year Accruals and deferred income 8. Statement of funds Statement of funds - current period Unrestricted funds General Funds - all funds 9. Summary of funds Summary of funds - current period General funds 10. Analysis of net assets between funds Analysis of net assets between funds - current period Current assets Creditors due within one year Total	Income £ Expenditure £ 34,164 (29,096) Income £ Expenditure £ 34,164 (29,096) Unrestricted funds 2020 £ 6,568 (1,500) 5,068	2020 £ 1,500 Balance at 31 December 2020 £ 5,068 Balance at 31 December 2020 £ 5,068 Total funds 2020 £ 6,568 (1,500) 5,068

Page 11