REGISTERED COMPANY NUMBER: 018895 (England and Wales) REGISTERED CHARITY NUMBER: 1185393
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
THE HVM FOUNDATION
Riley Moss 2018 Limited Chartered Accountants Riley House 183-185 North Road Preston Lancashire PR1 1YQ
THE HVM FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 7 |
| Detailed Statement of Financial Activities | 8 |
THE HVM FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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 charitable trust has continued its commitment to assist local and national charities and organisations by providing grants and supporting charities and voluntary organisations that operate in accordance to the charity's aims and objectives. Donations have been made to various causes which the trustees consider to have provided Public Benefit.
Structure, governance and management Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Reference and administrative details Registered Company number
018895 (England and Wales)
Registered Charity number 1185393
Registered office
4 Pinfold Close Fulwood Preston PR2 5DE
Trustees
H Munshi H Bux M Bux
Company Secretary
Independent Examiner
Riley Moss 2018 Limited Chartered Accountants Riley House 183-185 North Road Preston Lancashire PR1 1YQ
Approved by order of the board of trustees on 1 February 2022 and signed on its behalf by:
H Bux - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HVM FOUNDATION
Independent examiner's report to the trustees of The HVM Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Farook Patel FCA Riley Moss 2018 Limited Chartered Accountants Riley House 183-185 North Road Preston Lancashire PR1 1YQ
1 February 2022
Page 2
THE HVM FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
Period
19.9.19
Year Ended to
31.3.21 31.3.20
Unrestricted Total
fund funds
Notes £ £
Income and endowments from
Donations and legacies 100 19,001
Expenditure on
Charitable activities
Charitable expenditure 1,037 18,409
NET INCOME/(EXPENDITURE) (937) 592
Reconciliation of funds
Total funds brought forward 592 -
Total funds carried forward (345) 592
----- End of picture text -----
The notes form part of these financial statements
Page 3
THE HVM FOUNDATION
BALANCE SHEET 31 MARCH 2021
----- Start of picture text -----
2021 2020
Unrestricted Total
fund funds
Notes £ £
Current assets
Cash at bank 555 1,042
Creditors
Amounts falling due within one year 4 (900) (450)
Net current assets/(liabilities) (345) 592
Total assets less current liabilities (345) 592
NET ASSETS (345) 592
Funds 5
Unrestricted funds (345) 592
Total funds (345) 592
----- End of picture text -----
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 1 February 2022 and were signed on its behalf by:
H Bux - Trustee
The notes form part of these financial statements
Page 4
THE HVM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the period ended 31 March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the period ended 31 March 2020.
Page 5
continued...
THE HVM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
3. Comparatives for the statement of financial activities
Unrestricted
fund
£
Income and endowments from
Donations and legacies 19,001
Expenditure on
Charitable activities
Charitable expenditure 18,409
NET INCOME 592
Total funds carried forward 592
4. Creditors: amounts falling due within one year
2021 2020
£ £
Accrued expenses 900 450
5. Movement in funds
Net
movement At
At 1.4.20 in funds 31.3.21
£ £ £
Unrestricted funds
General fund 592 (937) (345)
TOTAL FUNDS 592 (937) (345)
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 100 (1,037) (937)
TOTAL FUNDS 100 (1,037) (937)
----- End of picture text -----
Page 6
continued...
THE HVM FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
5. Movement in funds - continued
Comparatives for movement in funds
| Unrestricted funds General fund |
Net movement in funds £ 592 |
At 31.3.20 £ 592 |
|---|---|---|
| TOTAL FUNDS | 592 | 592 |
| Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 19,001 |
Resources expended £ (18,409) |
Movement in funds £ 592 |
| TOTAL FUNDS 19,001 |
(18,409) | 592 |
6. Related party disclosures
There were no related party transactions for the year ended 31 March 2021.
Page 7
THE HVM FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
Period
19.9.19
Year Ended to
31.3.21 31.3.20
£ £
Income and endowments
Donations and legacies
Donations 100 19,001
Total incoming resources 100 19,001
Expenditure
Charitable activities
Charitable expenditure 539 14,038
Support costs
Management
Rates and water - 986
Advertising 48 840
Sundries - 415
48 2,241
Governance costs
Accountancy and legal fees 450 2,130
Total resources expended 1,037 18,409
Net (expenditure)/income (937) 592
----- End of picture text -----
This page does not form part of the statutory financial statements
Page 8