Registered number: CE018102 Charity number: 1184268
OSFA
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 - 14 |
OSFA
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021
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 YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual report together with the financial statements of the OSFA for the 1 January 2021 to 31 December 2021. 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 total 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 YEAR ENDED 31 DECEMBER 2021
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 12 December 2022 and signed on their behalf by:
A Mortlock Chair
Page 3
OSFA
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2021
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 . 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 judgements 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 12 December 2022 and signed on its behalf by:
A Mortlock Chair
Page 4
OSFA
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021
| Note Income from: Donations and legacies 3 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 Period ended 31 December 2021 £ 2,000 2,000 4,303 4,303 (2,303) 5,068 (2,303) 2,765 |
Total funds Period ended 31 December 2021 £ 2,000 2,000 4,303 4,303 (2,303) 5,068 (2,303) 2,765 |
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 year.
The notes on pages 7 to 14 form part of these financial statements.
Page 5
OSFA REGISTERED NUMBER: CE018102
BALANCE SHEET AS AT 31 DECEMBER 2021
| Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year 7 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 8 Unrestricted funds 8 Total funds |
6,065 6,065 (3,300) |
2021 £ 2,765 2,765 2,765 2,765 - 2,765 2,765 |
6,568 6,568 (1,500) |
2020 £ 5,068 |
|---|---|---|---|---|
| 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 year 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 12 December 2022 and signed on their behalf by:
A Mortlock
(Chair of Trustees)
The notes on pages 7 to 14 form part of these financial statements.
Page 6
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 YEAR ENDED 31 DECEMBER 2021
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.
Page 8
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
3. Income from donations and legacies
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| Period | Period | |
| ended | ended | |
| 31 | 31 | |
| December | December | |
| 2021 | 2021 | |
| £ | £ | |
| Donations | 2,000 | 2,000 |
| Unrestricted | Total | |
| funds | funds | |
| Period ended | Period ended | |
| 31 | 31 | |
| December | December | |
| 2020 | 2020 | |
| £ | £ | |
| Donations | 34,164 | 34,164 |
Page 9
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
4. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| Period | Period | |
| ended | ended | |
| 31 | 31 | |
| December | December | |
| 2021 | 2021 | |
| £ | £ | |
| Direct costs | 4,303 | 4,303 |
| Unrestricted | ||
| funds | Total | |
| Period ended | Period ended | |
| 31 | 31 | |
| December | December | |
| 2020 | 2020 | |
| £ | £ | |
| Direct costs | 29,096 | 29,096 |
5. Analysis of expenditure by activities
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| Period | Period | Period | |
| ended | ended | ended | |
| 31 | 31 | 31 | |
| December | December | December | |
| 2021 | 2021 | 2021 | |
| £ | £ | £ | |
| Boxing & Fitness | 1,600 | 2,703 | 4,303 |
Page 10
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
5. Analysis of expenditure by activities (continued)
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| Period ended | Period ended | Period ended | |
| 31 | 31 | 31 | |
| December | December | December | |
| 2020 | 2020 | 2020 | |
| £ | £ | £ | |
| Boxing & Fitness | 10,815 | 18,281 | 29,096 |
Analysis of direct costs
| Total | ||
|---|---|---|
| funds | Total | |
| Period | funds | |
| ended | Period ended | |
| 31 | 31 | |
| December | December | |
| 2021 | 2020 | |
| £ | £ | |
| Trainer costs | 1,600 | 10,815 |
Page 11
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 |
Total funds Period ended 31 December 2021 £ 317 546 300 40 - - - - - 1,500 2,703 |
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 |
Page 12
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 December 2021, no Trustee expenses have been incurred (2020 - £NIL).
7. Creditors: Amounts falling due within one year
| Accruals and deferred income 8. 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 2021 £ 5,068 |
Income £ 2,000 Income £ 34,164 |
2021 £ 3,300 Expenditure £ (4,303) Expenditure £ (29,096) |
2020 £ 1,500 |
|---|---|---|---|---|
| Balance at 31 December 2021 £ 2,765 |
||||
| Balance at 31 December 2020 £ 5,068 |
Page 13
OSFA
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
9. Summary of funds
Summary of funds - current year
| General funds Summary of funds - prior year General funds |
Balance at 1 January 2021 £ 5,068 |
Income £ 2,000 Income £ 34,164 |
Expenditure £ (4,303) Expenditure £ (29,096) |
Balance at 31 December 2021 £ 2,765 |
|---|---|---|---|---|
| Balance at 31 December 2020 £ 5,068 |
10. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2021 £ Current assets 6,065 Creditors due within one year (3,300) Total 2,765 |
Total funds 2021 £ 6,065 (3,300) |
|---|---|
| 2,765 |
Page 14