## **Trustees’ Annual Report for the period**
## **From 30 September 2019 Period start date To 31 December 2020 Period end date**
## **Charity name: Bassuah Legacy Foundation**
## **Charity registration number: 1185562**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|‘To relieve the needs of, and promote social
inclusion among, single parents and their
children, who are socially and economically
deprived, within the London area, through
the provision of:
a) Education, support and advice in all
areas relating to single parenthood.
b) Facilities in the interests of social
welfare for recreation or other leisure time
occupation with the object of improving
their conditions of life.’|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|1. Raising awareness of single parenting
2. Promoting Health and Wellbeing
3. Empowerment through advocacy and
skill development
4. Celebrating and Motivating to remove
stigma
5. Promoting Social Inclusion
6. Provision of access to clean water
7. Education – Basic Education and Adult
Education Programmes
8. Employment Support|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|Trustees have read guidance by the
Charity Commission on public benefit.|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making
Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**In UK:**
**HEALTH AND WELLBEING**
**PROGRAMME**
**LAUNCHED**
**HEALTH AND WELLBEING**
**PROGRAMME FUNDED BY W12**
**TOGETHER**
**HEALTH AND WELLBEING**
**PROGRAMME FUNDED BY UNITED IN**
**HAMMERSMITH AND FULHAM –**
**ORGANISING WEEKLY YOGA AND**
**FITNESS CLASSES**
**SET UP COMMUNITY ENTERPRISE**
**DESIGN VOLUNTEER TRAINING**
**PROGRAMME**
**In Ghana:**
**COVID-19 Relief Programme**
●
**Social Intervention**
**Water Project**
**●**
Successful drilling of borehole on
second attempt to provide access
to free clean water for local|
||community in one of the towns|
|---|---|
||within the capital of Ghana.|
|**Social Inclusion Programme**||
|**ACE Events**||
|•|Acknowledging,Celebrating,|
||Empowering single parents and|
||their dependant in hard times|
||brought by COVID-19 Pandemic|
|•|Celebration – Women’s Day And|
||Mother’s Day with gifts|
||presentations and recreational|
||activities.|
|**Education Programme**||
|•|Adult Education – **Basic English**|
||**Language**Training in Literacy,|
||Numeracy.|
|•|Education on essential|
||employability skills|
|•|Skill Acquisition|
|•|Trading Skill Development|
|•|Engaging with old traders|
|•|Drawing on previous experiences to|
||make improvements|
|**Health and Wellbeing**||
|•|Health walks twice each month|
|•|Participation by local members|
||in the London organized Yoga|
||classes.|
|•|Joining zoom sessions for Yoga|
||and Bhangra classes|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
||||
|---|---|---|
|Achievements against
objectives set|Para 1.41||
|Performance of fundraising
activities against objectives
set|Para 1.41||
|Investment performance
against objectives|Para 1.41||
||||
||||
Other
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of theperiod|Para 1.21|**See attached financial statement**|
|Statement explaining the
policy for holding reserves
statingwhytheyare held|Para 1.22|**See attached financial statement**|
|Amount of reserves held|Para 1.22|**See attached financial statement**|
|Reasons for holding zero
reserves|Para 1.22|**See attached financial statement**|
|Details of fund materially in
deficit|Para 1.24|**See attached financial statement**|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**See attached financial statement**|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
||||
|---|---|---|
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47||
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46||
|A description of the principal
risks facing the charity|Para 1.46||
|Other|||
||||
## **Structure, Governance and Management**
|Description of charity’s
trusts:||**Trustees**|
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|Constitution of a Charitable
Incorporated Organisation whose only
voting members are its charity trustees|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|Constitution of a Charitable
Incorporated Organisation (CIO)|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Trustees must be appointed by a
resolution passed at a properly
convened meeting of the charity
trustees.|
## **Additional information (optional)**
You may choose to include further statements where relevant about:
Policies and procedures adopted for the induction Para 1.51 and training of trustees The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any related Para 1.51 parties Other
## **Reference and Administrative details**
|Charity name|**BASSUAH LEGACY FOUNDATION**|
|---|---|
|Other name the charityuses||
|Registered charitynumber|**1185562**|
Charity’s principal address **90 Goldhawk Road, Shepherds Bush, London, W12 8HD**
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**
**Name of**
**person (or**
**body)**
**entitled to**
**appoint**
**trustee (if**
**any)**|
|---|---|---|---|
||Finbarr Bassuah|||
||Isaac Sarbah|||
||Philippa Gittens|||
||Philip Obeng|||
||Natasha Kataria|||
||Fidelis Bassuah|||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
|||||
Corporate trustees – names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
**Funds held as custodian trustees on behalf of others** Description of the assets held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets
## **Additional information (optional) Names and addresses of advisers (Optional information)**
|**Additional information (optional)**
**Names and addresses of advisers (Optional information)**|**Additional information (optional)**
**Names and addresses of advisers (Optional information)**|**Additional information (optional)**
**Names and addresses of advisers (Optional information)**|**Additional information (optional)**
**Names and addresses of advisers (Optional information)**|
|---|---|---|---|
|**Type of**
**adviser**
**Name**
**Address**||||
|||||
|||||
|||||
|||||
|**Name of chief executive or names of senior staff members (Optional information)**||||
|||||
|||||
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
## **Other optional information**
## **Declarations**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees Signature(s) Full name(s)** FINBARR BASSUAH **Position (eg** CHAIR **Secretary, Chair, etc) Date** 08/10/2021
## **BASSUAH LEGACY FOUNDATION**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020 REGISTERED CHARITY (CIO) NO: 1185562**
**REGISTERED CHARITY ADDRESS BASSUAH LEGACY FOUNDATION 90 Goldhawk Road, Shepherds Bush, London, W12 8HD**
1
|**BASSUAH LEGACY FOUNDATION**||
|---|---|
|**REGISTERED CHARITY (CIO) NO 1185562**||
|**FINANCIAL STATEMENTS**||
|**FOR THE YEAR ENDED 31st DECEMBER 2020**||
|**Page**||
|**CONTENTS**|**2**|
|**Charity Information**|**3**|
|**Report of Directors/Trustees**|**4-6**|
|**Independent Examiners Report**|**7**|
|**Statement of Financial Activities**|**8**|
|**Balance Sheet**|**9**|
|**Notes to the Accounts**|**10**|
|**Detailed Income and Expenditure**|**11**|
2
**BASSUAH LEGACY FOUNDATION REGISTERED CHARITY (CIO) NO 1185562 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020**
## **ADMINISTRATIVE / LEGAL INFORMATION**
**DIRECTORS/TRUSTEES** Natasha Kataria….........Treasurer Fidelis Bassuah………...Trustee Finbarr Bassuah.......... Trustee Isaac Sarbah.................Trustee Philippa Gittens............Trustee Philip Obeng.................Trustee **REGISTERED OFFICE** BASSUAH LEGACY FOUNDATION 90 Goldhawk Road, Shepherds Bush, London, W12 8HD **BANKERS** Metro Bank One Southampton Row LONDON WC1B 5HA **INDEPENDENT EXAMINER** London Accountancy Practice Sojourner Truth Centre 161 Sumner Road London SE15 6JL
3
**BASSUAH LEGACY FOUNDATION REGISTERED CHARITY (CIO) NO 1185562 REPORT OF THE DIRECTORS/TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2020**
The Directors/Trustees present their Annual Report and Financial Statement for the year ending 31 December 2020.
## **AIMS AND OBJECTIVES**
To relieve the needs of, and promote social inclusion among, single parents and their children. Who are socially and economically deprived, within the London area, through the provision of:
A) Education, support and advice in all areas relating to single parenthood.
B) Facilities in the interests of social welfare for recreation or other leisure time and employment with the object of improving their conditions of life.
## **TRUSTEES REPORT**
Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service.
(See separate Trustees’ Report)
4
## **BASSUAH LEGACY FOUNDATION MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **FINANCIAL REVIEW**
The results of the year’s operation are set out in the attached financial statements. The net movement in funds for the year amounted to £14,990. The retained reserves at 31st December 2020 amounted to £14,990.
## **RESERVE POLICY**
The Charity Commission requires charities to determine and explain their policy for free reserves. The trustees have reviewed the organisation’s free reserves policy and have turned its entire unrestricted fund into an emergency reserve to enable Bassuah Legacy Foundation to meet its obligations in the event of a shortfall in income or sudden upturn in expenditure.
## **RISK MANAGEMENT**
The trustees have examined the major risks which Bassuah Legacy Foundation faces and believe that maintaining their free reserves at a reasonable level, combined with their annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **TANGIBLE FIXED ASSETS**
The organisation has no fixed assets
## **FUNDS AVAILABLE**
The present level of funding is adequate to support the continuation of the charity operations for the medium term, and the trustees consider the financial position of the charity to be satisfactory.
## **VOLUNTEERS**
BASSUAH LEGACY FOUNDATION recognises the significant contributions made by the volunteers.
5
## **BASSUAH LEGACY FOUNDATION STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees are required to prepare financial statements which give a true and fair view of the state of affairs of the project and of the income and expenditure of the project for that period. In preparing these financial statements, the management committee are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the project will continue in operation.
The Trustees are responsible for keeping proper records which disclose at any time the financial position of the project. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
6
## **BASSUAH LEGACY FOUNDATION INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BASSUAH LEGACY FOUNDATION**
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Independent examiner’s report**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination. (other than that disclosed below) which gives me cause to believe that in any material respect:
- The accounting records were not kept in accordance with the section 130 of the Charities Act; or
- The accounts did not accord with the accounting records; or
- The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account give a ‘true and fair’ which is not a matter a matter considered as part of the independent examination.
I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of this account to be reached.
Signed………………………………………………..Date:……………………… A Adebambo, MBA, ACMA, CGMA, ACG, London Accountancy Practice. Sojourner Truth Centre 161 Sumner Road London SE15 6JL
7
BASSUAH LEGACY FOUNDATION (CIO)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Unrestricted Restricted
2020
Fundl£)
Fundl£) Totall£l
26,843 26,843
707
27,550
INCOMING RESOURCES
Voluntary Income & Donab'ons
Sales Revenue
Total Incoming Resources
707
707
26,843
RESOURCES EXPENDED
511
12,049
12,560
Direct chantab Costs
511
12,049
12,560
Net Incomiro Resources
14,794
14,990
Balance Brought Forward
BalarKe Carried Forwaid
196
14,794
14,990
BASSUAH LEGACY FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2020
CURRENT ASSET
2020
Cash at Bank
25,222
CURRENT UABILITIES
Creditors a Accruals
10.232
14,990
FINANCED BY
FUNDS. Unrestnded FurKI
Resthcted Fund
196
14,794
14,990
8th October
Approved by the Board of Trustees on..................................2021
and signed on its behalf by
..Trustee FINBARR BASSUAH
Trustee NATASHA KATARIA
## **BASSUAH LEGACY FOUNDATION REGISTERED CHARITY (CIO) NO 1185562 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of Preparation of Financial Statements**
The financial statements are prepared under the historic cost convention and include the results of the charity’s operations which are described in the Management Committee’s Report and all of which are continuing.
The accounts have been prepared in accordance with the Statements of Recommended Practice for charity accounts.
The charity has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small charity
## **1.2**
## **Incoming Resources**
- **1.2.1** Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period.
- **1.2.2** Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.
## **1.3 Restricted Funds**
- Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs.
## **1.4 Unrestricted Funds**
- Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds.
## **1.5 Designated Funds**
Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
## **1.6 Tangible Fixed Assets**
All expenditure that related to equipment has been charged to the Statement of Financial Activities in the year of acquisition. A register of assets is maintained.
10
**2020** £
**2** . **CREDITORS** £ Accountancy Fee 250
11
## **BASSUAH LEGACY FOUNDATION**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020 REGISTERED CHARITY (CIO) NO: 1185562**
**REGISTERED CHARITY ADDRESS BASSUAH LEGACY FOUNDATION 90 Goldhawk Road, Shepherds Bush, London, W12 8HD**
1
|**BASSUAH LEGACY FOUNDATION**||
|---|---|
|**REGISTERED CHARITY (CIO) NO 1185562**||
|**FINANCIAL STATEMENTS**||
|**FOR THE YEAR ENDED 31st DECEMBER 2020**||
|**Page**||
|**CONTENTS**|**2**|
|**Charity Information**|**3**|
|**Report of Directors/Trustees**|**4-6**|
|**Independent Examiners Report**|**7**|
|**Statement of Financial Activities**|**8**|
|**Balance Sheet**|**9**|
|**Notes to the Accounts**|**10**|
|**Detailed Income and Expenditure**|**11**|
2
**BASSUAH LEGACY FOUNDATION REGISTERED CHARITY (CIO) NO 1185562 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2020**
## **ADMINISTRATIVE / LEGAL INFORMATION**
**DIRECTORS/TRUSTEES** Natasha Kataria….........Treasurer Fidelis Bassuah………...Trustee Finbarr Bassuah.......... Trustee Isaac Sarbah.................Trustee Philippa Gittens............Trustee Philip Obeng.................Trustee **REGISTERED OFFICE** BASSUAH LEGACY FOUNDATION 90 Goldhawk Road, Shepherds Bush, London, W12 8HD **BANKERS** Metro Bank One Southampton Row LONDON WC1B 5HA **INDEPENDENT EXAMINER** London Accountancy Practice Sojourner Truth Centre 161 Sumner Road London SE15 6JL
3
**BASSUAH LEGACY FOUNDATION REGISTERED CHARITY (CIO) NO 1185562 REPORT OF THE DIRECTORS/TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2020**
The Directors/Trustees present their Annual Report and Financial Statement for the year ending 31 December 2020.
## **AIMS AND OBJECTIVES**
To relieve the needs of, and promote social inclusion among, single parents and their children. Who are socially and economically deprived, within the London area, through the provision of:
A) Education, support and advice in all areas relating to single parenthood.
B) Facilities in the interests of social welfare for recreation or other leisure time and employment with the object of improving their conditions of life.
## **TRUSTEES REPORT**
Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service.
(See separate Trustees’ Report)
4
## **BASSUAH LEGACY FOUNDATION MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **FINANCIAL REVIEW**
The results of the year’s operation are set out in the attached financial statements. The net movement in funds for the year amounted to £14,990. The retained reserves at 31st December 2020 amounted to £14,990.
## **RESERVE POLICY**
The Charity Commission requires charities to determine and explain their policy for free reserves. The trustees have reviewed the organisation’s free reserves policy and have turned its entire unrestricted fund into an emergency reserve to enable Bassuah Legacy Foundation to meet its obligations in the event of a shortfall in income or sudden upturn in expenditure.
## **RISK MANAGEMENT**
The trustees have examined the major risks which Bassuah Legacy Foundation faces and believe that maintaining their free reserves at a reasonable level, combined with their annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **TANGIBLE FIXED ASSETS**
The organisation has no fixed assets
## **FUNDS AVAILABLE**
The present level of funding is adequate to support the continuation of the charity operations for the medium term, and the trustees consider the financial position of the charity to be satisfactory.
## **VOLUNTEERS**
BASSUAH LEGACY FOUNDATION recognises the significant contributions made by the volunteers.
5
## **BASSUAH LEGACY FOUNDATION STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
The Trustees are required to prepare financial statements which give a true and fair view of the state of affairs of the project and of the income and expenditure of the project for that period. In preparing these financial statements, the management committee are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the project will continue in operation.
The Trustees are responsible for keeping proper records which disclose at any time the financial position of the project. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
6
## **BASSUAH LEGACY FOUNDATION INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BASSUAH LEGACY FOUNDATION**
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Independent examiner’s report**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination. (other than that disclosed below) which gives me cause to believe that in any material respect:
- The accounting records were not kept in accordance with the section 130 of the Charities Act; or
- The accounts did not accord with the accounting records; or
- The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account give a ‘true and fair’ which is not a matter a matter considered as part of the independent examination.
I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of this account to be reached.
Signed………………………………………………..Date:……………………… A Adebambo, MBA, ACMA, CGMA, ACG, London Accountancy Practice. Sojourner Truth Centre 161 Sumner Road London SE15 6JL
7
BASSUAH LEGACY FOUNDATION (CIO)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Unrestricted Restricted
2020
Fundl£)
Fundl£) Totall£l
26,843 26,843
707
27,550
INCOMING RESOURCES
Voluntary Income & Donab'ons
Sales Revenue
Total Incoming Resources
707
707
26,843
RESOURCES EXPENDED
511
12,049
12,560
Direct chantab Costs
511
12,049
12,560
Net Incomiro Resources
14,794
14,990
Balance Brought Forward
BalarKe Carried Forwaid
196
14,794
14,990
BASSUAH LEGACY FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2020
CURRENT ASSET
2020
Cash at Bank
25,222
CURRENT UABILITIES
Creditors a Accruals
10.232
14,990
FINANCED BY
FUNDS. Unrestnded FurKI
Resthcted Fund
196
14,794
14,990
8th October
Approved by the Board of Trustees on..................................2021
and signed on its behalf by
..Trustee FINBARR BASSUAH
Trustee NATASHA KATARIA
## **BASSUAH LEGACY FOUNDATION REGISTERED CHARITY (CIO) NO 1185562 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of Preparation of Financial Statements**
The financial statements are prepared under the historic cost convention and include the results of the charity’s operations which are described in the Management Committee’s Report and all of which are continuing.
The accounts have been prepared in accordance with the Statements of Recommended Practice for charity accounts.
The charity has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small charity
## **1.2**
## **Incoming Resources**
- **1.2.1** Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period.
- **1.2.2** Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.
## **1.3 Restricted Funds**
- Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs.
## **1.4 Unrestricted Funds**
- Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds.
## **1.5 Designated Funds**
Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
## **1.6 Tangible Fixed Assets**
All expenditure that related to equipment has been charged to the Statement of Financial Activities in the year of acquisition. A register of assets is maintained.
10
**2020** £
**2** . **CREDITORS** £ Accountancy Fee 250
11