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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|||
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|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||||
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|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.|||||||||
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||||||Period from 27August|Period from 27August|2019to|
|---|---|---|---|---|---|---|---|
||||||31 December 2020|||
||||||Unrestricted|Restricted||
||||||funds|funds|Total funds|
|||||Note|E|||
|Income and|endowments|||||||
|Donations||||4|121,608||121,608|
|Charitable
activities||||5|4,183|56,750|60,933|
|Other trading|activities|||6|3,443||3,443|
|Investment
income||||7|264||264|
|Total income|||||129,498|56,750|186,248|
|Expenditure||||||||
|Expenditure|on charitable|activities||8,9|13,899|2,531|16,430|
|Total expenditure|||||13,899|2,531|16,430|
|Net income|and net movement||in funds||115,599|54,219|169,818|
|Reconciliation
offunds||||||||
|Total funds brought
forward||||||||
|Total funds|carried forward||||115,599|54,219|169,818|
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|31 December|20|20|||
|---|---|---|---|---|
|||||31 December|
|||||2020|
||||Note||
|Current assets|||||
|Cash at bank and|in|hand||171,258|
|Creditors: amounts||falling due within one year|14|1,440|
|Net current assets||||169,818|
|Total assets less|current liabilities|||169,818|
|Net assets||||169,818|
|Funds ofthe charity|||||
|Restricted
funds||||54,219|
|Unrestricted
funds||||115,599|
|Total charity funds|||15|169,818|
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|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|
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|Donations|||||
|---|---|---|---|---|
||||Unrestricted|Total Funds|
||||Funds|2020|
|||||f|
|Donations|||||
|Donations|||6,064|6,064|
|Transfer from 65 Degrees|North unregistered|NFP organisation|115,544|115,544|
||||121,608|121,608|
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|5.|Charitable
a||ctivities|||||||
|---|---|---|---|---|---|---|---|---|---|
||||||||Unrestricted|Restricted|Total Funds|
||||||||Funds|Funds|2020|
||Small Grants||||||4,183||4,183|
||Armed Forces Covenant|||Fund Trust||||33,250|33,250|
||HM Treasury||LIBOR Bank||Fines|||23,500|23,500|
||||||||4,183|56,750|60,933|
|6.|Other trading||activities|||||||
|||||||||Unrestricted|Total Funds|
|||||||||Funds|2020|
||Fundraising|events||||||3,443|3,443|
|7.|Investment|income||||||||
|||||||||Unrestricted|Total Funds|
|||||||||Funds|2020|
||Bank interest||received|||||264|264|
|8.|Expenditure||on charitable||activities|by fund type||||
|8.|Expendi|ture
|on charitable|activities|by fund type||||
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Total Funds|
|||||||Funds|Funds|2020|
||General|Funds||||12,446||12,446|
||HM Treasury||LIBOR Bank|Fines|||2,530|2,530|
||Support|costs||||1,454||1,454|
|||||||13,900|2,530|16,430|
|9.|Expenditure||on charitable|activities|by activity type||||
|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|
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|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|
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|||||31|December|
|---|---|---|---|---|---|
||||||2020|
|Accruals|and|deferred|income||1,440|
||||||||At|
|---|---|---|---|---|---|---|---|
|||||At||31|December|
|||27|August|2019|Income|Expenditure|2020|
|||||||F||
|General|funds||||129,498|(13,899)|115,599|
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|||||||At|
|---|---|---|---|---|---|---|
||||At||31|December|
||||27 August 2019|Income|Expenditure|2020|
|||||F|||
|Armed Forces|Covenant|Fund Trust||33,250||33,250|
|HM Treasury|LIBOR Bank Fines|||23,500|(2,531)|20,969|
|||||56,750|(2,531)|54,219|
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|16.|Analysis ofnet a|sse|ts between funds|||||
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total Funds||
|||||Funds|Funds||2020|
|||||F|F|||
||Current assets|||117,039|54,219||171,258|
||Creditors less than|1|year|(1,440)|||(1,440)|
||Net assets|||115,599|54,219||169,818|
|17.|Analysis ofchanges||in net debt|||||
|||||At|||At|
|||||27 August||31|December|
|||||2019|Cash flows||2020|
|||||F|F|||
||Cash at bank and|in|hand||171,258||171,258|