Charity registration number: 1185708
SAVE THE SOULS
Annual Report and Financial Statements for the Year Ended 31 August 2020
SAVE THE SOULS
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Statement of Trustees' Responsibilities | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
SAVE THE SOULS
Trustees' Report
Reference and Administrative Details
Trustees Mr Javaid Iqbal Mr Ata Ur Rehman Mr Mohammed Nazakit Principal Office 99 Harrowby Road Stoke-on-Trent ST3 7AN Charity Registration Number 1185708
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SAVE THE SOULS
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2020.
Objectives and activities
Objects and aims
The CIO constitution defines the charity's objects as the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship, disaster (natural or otherwise) or other disadvantage in such parts of the world as the trustees shall determine.
Public benefit
The trustees have considered this, in conjunction with the guidance contained in the Charity Commission’s general guidance on public benefit, and have concluded that:
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the aims of the charity continue to be charitable;
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the work done by the charity gives identifiable benefits to the charitable sector and both directly and indirectly to individuals in need;
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the benefits are for the public; not unreasonably restricted in anyway;
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there is no detriment or harm arising from the aims or activities.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Achievements and performance
Due to the pandemic, most of the banks have not been accepting applications to open a charity account and we have been struggling to open a bank account. So far, we could not open a bank account so we have not started collecting funds. The CIO has not started its operations because of having no bank account.
Financial review
During the year, the charity has been inactive financially.
Policy on reserves
Once the CIO begins its operations and fundraising, the charity will have sufficient reserves to meet future core costs
Structure, governance and management
Nature of governing document
The charity is a charitable incorporated Organisation (CIO), governed by CIO constitution and registered with the Charity Commission on 9 October 2019.
Organisational structure
Trustees are responsible for setting strategies and policies for ensuring these are implemented.
The annual report was approved by the trustees of the charity on 6 June 2021 and signed on its behalf by:
......................................... Mr Javaid Iqbal Chair
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Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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SAVE THE SOULS
Statement of Financial Activities for the Year Ended 31 August 2020
| Note Income and Endowments from: Donations and legacies Other income Total income Expenditure on: Charitable activities Total expenditure Net income Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ - - - - - - - - - |
Total 2020 £ - - |
|---|---|---|
| - | ||
| - | ||
| - | ||
| - | ||
| - - |
||
| - |
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(Registration number: 1185708) Balance Sheet as at 31 August 2020
| Note Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2020 £ - - - - - - - - - |
2019 £ - - - |
|---|---|---|
| - - |
||
| - | ||
| - | ||
| - | ||
| - |
The financial statements on pages 4 to 7 were approved by the trustees, and authorised for issue on 6 June 2021 and signed on their behalf by:
......................................... Mr Javaid Iqbal Chair
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SAVE THE SOULS
Notes to the Financial Statements for the Year Ended 31 August 2020
Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Save The Souls meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation chargesallocatedontheportionoftheasset’suse.Othersupportcostsareallocatedbasedonthespreadofstaffcosts.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’ meetings and reimbursed expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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Notes to the Financial Statements for the Year Ended 31 August 2020
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Freehold Land & Buildings - 50 years (straight line)
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
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