2020-12-31-accounts - 65 Degrees North

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		Page
Trustees'	annual report
Independent examiner's report to the trustees
Statement	offinancial activities
Statement	offinancial position
Statement	ofcash flows	10
Notes to the financial statements

Reference and administrative	Reference and administrative	Reference and administrative	details
Registered	charity	name	65 Degrees	North
Charity registration		number	1185047
Principal office
The trustees
			Mr J Ball		(Appointed	18October 2019)
			Professor L	Kilduff PhD	(Appointed	18October 2019)
			Mr B L Davies		(Appointed	18October 2019)
			Dr A L Markey MRCS MD		(Appointed	18October 2019)
			Mr TA Rees (Chair)		(Appointed	17January 2020)
			Mrs G V De'Claire		(Appointed	21 July 2020)
Independent	examiner		Mr Jonathan	Rhodes BScBFP FCA
			24 Bridge Street
			Newport
			South Wales
			NP20 4SF

Principal risks identified as at	Principal risks identified as at	31		Dece	mbe	r	2020 were	:	:
Risk								Mitigation
Injury or death during a challenge				of	a:			~	All training and challenges are		meticulously
~	Beneficiary or volunteer.								planned and risk-assessed.
~	Third party non-participant.							~	All training and challenges		are led		by
									appropriately qualified experts.
This risk would reduce the Charity's						reputation		~	All participants are carefully	screened			and
and	potentially lead to financial			liability.					selected.
								~	Adequate medical cover is provided.
								~	Procedures are in place		to ensure
									compliance with health and safety of			staff,
									volunteers, clients and visitors	to events.
Financial which includes:								~	In the COVID-19 context and lack of activity
~	Not meeting our income targets;								this risk has not arisen in		the current
~	Loss or reduction offunding		streams.						reporting period.
								~	As we move forward after the	pandemic			we
These risks would reduce our			capacity			to deliver			will set clear budgets for	both income
our	strategy.								generation and expenditure		which		will
									ensure delivery ofobjectives.
Governance which includes:								~	We have reviewed all Charity		policies		and
~	Lack of compliance with	legal			and	regulatory			ensured all required are in place.
	requirements;							~	We have introduced a finance		Ruel	Book
~	Breach of data and/or	IT	breach			by	external		with associated delegations and		procedures
	agents;								for authorisation of all transactions				and
									projects.
These risks will impact our operational							delivery
and	increase regulatory scrutiny,				both		of which
will	impact our ability to deliver			our	objectives.

Period from	27August	2019to 31	December 2020
				31 December
				2020
Cash flows from operating		activities
Net income				169,818
Adj ustmenfs for:
Other interest receivable and similar income				(264)
Interest payable	and similar	charges		14
Accrued expenses				1,440
Cash generated	from operations			171,008
Interest paid Interest received				(14) 264
Net cash from operating activities				171,258
Net increase in	cash and cash equivalents			171,258
Cash and cash	equivalents	at beginning	of period
Cash and cash	equivalents	at end of period		171,258

Expendi	ture	on charitable activities by act	ivity type
			Activities
			undertaken		Total funds
			directly Support costs		2020
General	Funds		12,446	1,454	13,900
HM Treasury		LIBOR Bank Fines	2,530		2,530
			14,976	1,454	16,430

10.	Analysis ofs	upport cost	s
						Bank
					Accountancy	Charges	Total 2020
	Finance costs				1,440	14	1,454
11.	Independent	examination	fees
							Period from
							27August
							2019to
							31 December
							2020
	Fees payable Independent	to the independent examination ofthe		examiner for: financial statements			1,440

				31	December
					2020
Accruals	and	deferred	income		1,440