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|||Page|
|---|---|---|
|Trustees'|annual
report||
|Independent
examiner's
report to the trustees|||
|Statement|offinancial
activities|10|
|Statement|offinancial
position||
|Statement|ofcash flows|12|
|Notes to the financial statements||13|
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|Reference and adm|inistrative|details|
|---|---|---|
|Registered
charity|name|65 Degrees North|
|Charity registration|number|1185047|
|Principal office||24 Bridge Street|
|||Newport|
|||NP20 4SF|
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|~Ri kM|~Ri kM|~Ri kM|~Ri kM|~Ri kM|~Ri kM|||||
|---|---|---|---|---|---|---|---|---|---|
|The Board ofTrustees has conducted a review ofthe major risks to which||||||the charity is exposed. A||risk||
|register has been|established
and reviewed||regularly.|Systems or procedures
have been established||||to||
|mitigate the risks|the charity faces.|||||||||
|Pnncipal
risks identified as at 31 December|||2022 were:|||||||
|Risk||||Miti|ation|||||
|Injury or death|dunng a challenge
ofa:|||~|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:|||~|We have set clear budgets
for both|||income||
|~
Not meeting|our income targets;||||generation|and expenditure
which will||ensure||
|~
Loss or reduction offunding streams.|||||delivery ofobjectives.|||||
|||||~|We
have|diversified
and|expanded||our|
|These risks would
reduce our capacity|||to deliver||fundraising|initiatives.||||
|our strategy.||||||||||
|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||rule book with|||
|~
Breach
of|data
and/or
IT breach|by
external|||associated|delegations
and|procedures||for|
|agents;|||||authorisation|of all transactions|and projects.|||
|These risks
will
impact
our operational|||delivery|||||||
|and increase|regulatory
scrutiny,
both||of which|||||||
|willim
actourabilit
todeliverourob'ectives.||||||||||
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|Year ended 31 Dece|mber 202|2|||||
|---|---|---|---|---|---|---|
|||||2022||2021|
||||Unrestricted|Restricted|||
||||funds|funds|Total funds|Total funds|
|||Note||E|5|5|
|Income and endowments|||||||
|Donations
and legacies||4|26,779|4,963|31,742|1,967|
|Other trading
activities
Investment
income||5
6|163,594
2||163,594
2|15|
|Total income|||190,375|4,963|195,338|1,982|
|Expenditure
Expenditure
on charitable|activities|7,8|102,388|21,927|124,315|25,710|
|Total expenditure|||102,388|21,927|124,315|25,710|
|Net income/(expenditure)|||87,987|(16,964)|71,023|(23,728)|
|Transfers
between
funds|||(13,871)|13,871|||
|Net movement
in funds|||74,116|(3,093)|71,023|(23,728)|
|Reconciliation
offunds|||||||
|Total funds brought
forward|||99,309|46,781|146,090|169,818|
|Total funds carried forward|||173,425|43,688|217,113|146,090|
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|31 December 20|22|||||
|---|---|---|---|---|---|
||||Note|2022
f|2021|
|Fixed assets||||||
|Tangible fixed assets|||14|1,414||
|Current assets||||||
|Debtors|||15|18,591||
|Cash at bank and in|hand|||198,899|147,590|
|||||217,490|147,590|
|Creditors: amounts|falling|due within one year|16|1,791|1,500|
|Net current assets||||215,699|146,090|
|Total assets less current||liabilities||217,113|146,090|
|Net assets||||217,113|146,090|
|Funds ofthe charity||||||
|Restricted funds||||43,688|46,781|
|Unrestricted
funds||||173,425|99,309|
|Total charity funds|||17|217,113|146,090|
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|Year ended 31 Decem|ber 2022||||
|---|---|---|---|---|
||||2022|2021|
||||6||
|Cash flows from operating|activities||||
|Net income/(expenditure)|||71,023|(23,728)|
|Adjustmenis
for:|||||
|Depreciation
oftangible
fixed assets|||164||
|Other interest receivable and similar income|||(2)|(15)|
|Interest payable and similar|charges||203|216|
|Accrued (income)/expenses|||(17,936)|60|
|Changesin:|||||
|Trade and other debtors|||(391)||
|Trade and other creditors|||27||
|Cash generated
from operations|||53,088|(23,467)|
|Interest
paid|||(203)|(216)|
|Interest received|||2|15|
|Net cash from/(used
in) operating
activities|||52,887|(23,668)|
|Cash flows from investing|activities||||
|Purchase oftangible assets|||(1,578)||
|Net cash used
in investing
activities|||(1,578)||
|Net increase/(decrease)
in|cash and cash|equivalents|51,309|(23,668)|
|Cash and cash equivalents|at beginning|ofyear|147,590|171,258|
|Cash and cash equivalents|at end ofyear||198,899|147,590|
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|||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|
|||Funds|Funds|2022|
|||5|F|F|
|Donations|||||
|Donations||26,779||26,779|
|Grants|||||
|HM Treasury|LIBOR Bank Fines||3,213|3,213|
|The Pilgrims|Ride||1,750|1,750|
|||26,779|4,963|31,742|
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|||||||Unrestricted|Restricted|Total Funds|
|---|---|---|---|---|---|---|---|---|
|||||||Funds
f|Funds
F|2021
F|
||Donations||||||||
||Donations|||||1,967||1,967|
||Grants||||||||
||HM Treasury||LIBOR Bank|Fines|||||
||The Pilgrims||Ride||||||
|||||||1,967||1,967|
|5.|Other trading||activities||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds
f|2022|Funds
f|2021
f|
||Fundraising|events|||163,594|163,594|||
|6.|Investment|income|||||||
||||||Unrestricted|Total Funds|Unrestricted|Total Funds|
||||||Funds|2022|Funds|2021|
||||||f|F|F||
||Bank interest||received||2|2|15|15|
|7.|Expenditure||on charitable|activities|by fund type||||
|||||||Unrestricted|Restricted|Total Funds|
|||||||Funds|Funds
f|2022
f|
||General Funds|||||94,279||94,279|
||HM Treasury||LIBOR Bank|Fines|||6,306|6,306|
||The Pilgrims||Ride||||15,529|15,529|
||Support costs|||||8,109|92|8,201|
|||||||102,388|21,927|124,315|
|||||||Unrestricted|Restricted|Total Funds|
|||||||Funds
f|Funds
f|2021|
||General Funds|||||16,556||16,556|
||HM Treasury||LIBOR Bank|Fines|||7,438|7,438|
||The Pilgrims||Ride||||||
||Support costs|||||1,716||1,716|
|||||||18,272|7,438|25,710|
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||||||||Activities||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||undertaken||Total|funds|Total fund||
||||||||directly Support costs|||2022||2021|
||||||||6|F||6||5|
||General
Funds||||||94,279|8,109|102,385||18,272||
||HM Treasury|LIBOR Bank||Fines|||6,306|||6,306|7,438||
||The Pilgrims|Ride|||||15,529|92|15,624||||
||||||||116,114|8,201|124,315||25,710||
|9.|Analysis of|support costs|||||||||||
|||||||||Bank|||||
||||||||Accountancy|Charges|Total 2022||Total|2021|
||||||||6|E||F||6|
||Finance costs||||||7,998|203||8,201||1,716|
|10.|Net income/(expenditure)||||||||||||
||Net income/(expenditure)|||is|stated after||charging/(crediting):||||||
|||||||||||2022
6|2021
f||
||Depreciation|oftangible|fixed assets|||||||164|||
|11.|Independent|examination|||fees||||||||
|||||||||||2022|2021||
|||||||||||6|||
||Fees payable|to the independent||||examiner for:|||||||
||independent|examination||ofthe financial|||statements|||1,560||1,500|
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|14.|Tangible fixed asset|s|||
|---|---|---|---|---|
|||||Equipment|
||Cost||||
||At 1 January 2022||||
||Additions|||1,578|
||At 31 December 2022|||1,578|
||Depreciation||||
||At 1 January 2022||||
||Charge for the year|||164|
||At 31December 2022|||164|
||Carrying
amount
At 31 December 2022|||1,414|
||At 31December 2021||||
|15.|Debtors||||
||||2022|2021|
||||F|6|
||Prepayments
and accrued income||18,591||
|16.|Creditors: amounts|falling due within one year|||
||||2022|2021|
||||F||
||Accruals and deferred|income|1,764|1,500|
||Credit card||27||
||||1,791|1,500|
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||||At||||At|
|---|---|---|---|---|---|---|---|
|||1|January|||31|December|
||||2022|Income|Expenditure|Transfers|2022|
||||6|F|F||6|
|General|funds||99,309|190,375|(102,388)|(13,871)|173,425|
||||At||||At|
|||1|January|||31|December|
||||2021
f|Income
E|Expenditure
F|Transfers
E|2021
F|
|General|funds||115,599|1,982|(18,272)||99,309|
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|||At||||At|
|---|---|---|---|---|---|---|
|||1 January||||31 December|
|||2022|Income|Expenditure|Transfers|2022|
||||F|8|8|8|
|Armed Forces Covenant|||||||
|Fund Trust||33,250||||33,250|
|HM Treasury|LIBOR||||||
|Bank Fines||13,531|3,213|(6,306)||10,438|
|The Pilgrims|Ride||1,750|(15,621)|13,871||
|||46,781|4,963|(21,927)|13,871|43,688|
|||At||||At|
|||1 January||||31 December|
|||2021|Income|Expenditure|Transfers|2021|
|||F|8|8|||
|Armed Forces Covenant|||||||
|Fund Trust||33,250||||33,250|
|HM Treasury|LIBOR||||||
|Bank Fines||20,969||(7,438)||13,531|
|The Pilgrims|Ride||||||
|||54,219||(7,438)||46,781|
|Analysis of|net assets between funds||||||
|||||Unrestricted|Restricted|Total Funds|
|||||Funds|Funds
F|2022
f|
|Tangible fixed assets||||1,414||1,414|
|Current assets||||187,673|29,817|217,490|
|Creditors less than||1 year||(1,791)||(1,791)|
|Net assets||||187,296|29,817|217,113|
|||||Unrestricted|Restricted|Total Funds|
|||||Funds|Funds|2021|
|||||L||8|
|Tangible fixed assets|||||||
|Current assets||||100,809|46,781|147,590|
|Creditors less than||1 year||(1,500)||(1,500)|
|Net assets||||99,309|46,781|146,090|
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|Analy|sis|ofc|han|ges|
in net debt|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||At||
|||||||At|1|Jan 2022
F|Cash flows|31 Dec|2022
f|
|Cash|at|bank|and|in|hand|||147,590|51,309|198,899||