REGISTERED CHARITY NUMBER: 1186748 REGISTERED COMPANY NUMBER: 11422323 (England and Wales)
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 FOR NEOTREE
(FORMERLY NEOTREE FOUNDATION)
Juliette Tompson Accounting Limited 23 Prospect Street Caversham Reading RG4 8JB
NEOTREE
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 30 June 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiners Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 9 |
| Detailed Statement of Financial Activities | 10 |
NEOTREE REPORT OF THE TRUSTEES For The Year Ended 30 June 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 period ending 30 June 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 2015).
Structure, governance and management
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: 11422323 (England and Wales) Registered Charity number: 1186748
Registered office
The Broadgate Tower Third Floor, 20 Primrose Street, London, EC2A 2RS
Trustees
Dr Scarlet F C Fitzgerald Dr M Heys Erin Kesla Yali Sassoon Katherine Herzog Parsons Dr C C Crehan (resigned 26/7/2020) Linda Horbye (resigned 13/7/2021)
Company Secretary
Reed Smith Corporate Services Limited
Independent Examiner
Juliette Tompson Accounting Limited 23 Prospect Street Caversham Reading RG4 8JB
Page 1
NEOTREE REPORT OF THE TRUSTEES - CONTINUED For The Year Ended 30 June 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Neotree for the purposes of company law) are responsible for preparing the Report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charity SORP;
-
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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Recruitment, appointment, induction and training of new trustees
All trustees understand their duties and responsibilities as trustees and the need to act in the best interests of the charity. At each AGM the existing trustees explain to the new trustees what is required of them and appropriate literature is handed out to them. For roles, such as the treasurer, chair and secretary, the existing chairperson meets with prospective trustees to discuss their roles and responsibilities and to ascertain the appropriate skill level of the prospective trustees. Trustees are aware that they retain overall responsibility and control of the trustee recruitment, selection and induction process.
Approved by order of the board of trustees on 5 November 2021 and signed on its behalf by:
………………………………………….
K Herzog Parsons – Trustee
Page 2
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF
NEOTREE
I report on the accounts for the year ended 30 June 2021 set out on pages four to ten.
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 required.
It is my responsibility to:
-
Examine the accounts under Section 145 of the 2011 Act
-
To follow the procedures laid down by the General Directions given by the Charity Commission
-
To state whether particular matters have come to my attention
Basis of the independent examiners report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view’ and the report is limited to those matters set out in the statements below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
-
(1) Which gives me reasonable cause to believe that, in any material respect, the requirements:
-
To keep accounting records in accordance with Section 130 of the 2011 Act
-
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act.
Have not been met; or
(2) To which, in my opinion, attention should be drawn, in order to enable a proper understanding of the accounts to be reached.
SM Jackson
………………………………………….
S M Jackson FCCA Juliette Tompson Accounting Limited 23 Prospect Street Caversham Reading RG4 8JB
5 November 2021
Page 3
NEOTREE STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 30 June 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestrict | Restri | Unrestricted | Unrestricted | ||
| ed funds | cted | Funds | Funds | ||
| funds | |||||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | |||||
| FROM | |||||
| Donations and legacies | 10,725 | - | 25,515 | 10,725 | |
| Grants | 5,697 | - | |||
| ______ | _____ | ______ | _ | ||
| Total | 10,725 | - | 31,212 |
10,725 | |
| EXPENDITURE ON | |||||
| Fundraising Activities | 2 | - | - | - | - |
| Charitable Activities | 3,656 | - | 3,656 | ||
| Other | 6,752 | 1,263 |
6,752 | ||
| - | |||||
| _ | _____ | _ | _ | ||
| _ | |||||
| Total | - | 1,263 |
10,408 | ||
| _ | ____ | _ | _ | ||
| NET INCOMING/ (EXPENDITURE) | 3 | 29,949 | 317 | ||
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | - | 3,560 | 3,243 | ||
| _ | _____ | _ | _ | ||
| _ | |||||
| TOTAL FUNDS CARRIED | 33,509 | 3,560 | |||
| FORWARD | ======= | - | ======= | ======= | |
| ==== |
Page 4
NEOTREE
BALANCE SHEET At 30 June 2021
| 2021 | 2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Unrestricted | Unrestricted | |||||
| fund | funds | Funds | Funds | |||||
| Notes | £ | £ | ||||||
| £ | £ | |||||||
| FIXED ASSETS | ||||||||
| Tangible assets | 5 | - | - | 315 | ||||
| CURRENT ASSETS | ||||||||
| Cash at bank and in hand | - | 35,248 | 4,425 | |||||
| _ | _ | _ | _ | |||||
| - | 35,248 | 4,425 | ||||||
| CURRENT LIABILITIES | ||||||||
| Amounts falling due within | 6 | |||||||
| one year | ) | - | (1,739) | (1,180) | ||||
| _ | _ | |||||||
| NET CURRENT ASSETS | - | 33,509 | 3,245 | |||||
| _ | _ | _ | _ | |||||
| TOTAL ASSETS LESS | - | 33,509 | 3,560 | |||||
| CURRENT LIABILITIES | _ | ______ | ||||||
| TOTAL NET ASSETS | - | 33,509 | 3,560 | |||||
| ======= | ======= | ====== | ====== | |||||
| FUNDS | 7 | |||||||
| Unrestricted funds | 33,509 | 3,560 | ||||||
| ______ | ______ | |||||||
| TOTAL FUNDS | 33,509 | 3,560 | ||||||
| ====== | ====== |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2021.
The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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.
Page 5
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 on 5 November 2021 and were signed on its behalf by:
…………………………………………….
K Herzog Parsons – Trustee
Page 6
NEOTREE
NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 30 June 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 2015)', 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 and Endowments
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Expenditure
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - Straight line over 5 years
Taxation
The charity is exempt from 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. RAISING FUNDS
Investment management costs
| nvestment management costs | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Support costs | - | - |
| ______ | ______ | |
| - | - | |
| ===== | ===== |
Page 7
NEOTREE NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For The Year Ended 30 June 2021
3. NET INCOME / (EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation | (210) | 104 |
| ______ | ______ |
4. TRUSTEES’ REMUNERATION AND BENEFITS
No remuneration was paid to trustees in the year ended 30 June 2021 nor the year ended 30 June 2020 in relation to duties performed in relation to the position as trustees. Details of salaries paid to trustees for work not relating to their role as a trustee are noted under related party disclosures.
Trustees’ expense
No sundry expenses were reimbursed to trustees during the year.
5. TANGIBLE FIXED ASSETS
| Equipment | |
|---|---|
| £ | |
| COST | |
| At 1 July 2020 | 525 |
| Disposals | (525) |
| At 30 June 2021 | - |
| ______ | |
| DEPRECIATION | 210 |
| At 1 July 2020 | (210) |
| Charge for year | ______ |
| At 30 June 2021 | - |
| ______ | |
| NET BOOK VALUE | |
| At 30 June 2021 | - |
| ===== | |
| At 30 June 2020 | 315 |
| ===== |
Page 8
NEOTREE NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For The Year Ended 30 June 2021
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | |||
| Accrued expenses | 1,739 | 1,180 | ||
| ===== | ===== | |||
| 7. | MOVEMENT IN FUNDS | |||
| At | Net | At | ||
| 30.6.20 | movement | 30.6.21 | ||
| in funds | ||||
| £ | £ |
£ | ||
| Unrestricted funds | ||||
| General fund | 3,560 | 29,949 |
33,509 | |
| Restricted funds | ||||
| Restricted funds | - | - | - | |
| ______ | _ | ______ | ||
| TOTAL FUNDS | 3,560 | 29,949 | 33,509 | |
| ===== | ===== |
===== | ||
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources |
Movement | ||
| resources | expended | in funds | ||
| £ | £ |
£ | ||
| Unrestricted funds | ||||
| General fund | 31,212 | (1,263) | 29,949 | |
| ______ | ______ | ______ | ||
| TOTAL FUNDS | ||||
| 31,212 | (1,263) | 29,949 | ||
| ===== | ===== | ===== |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 30 June 2021.
Page 9
NEOTREE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 30 June 2021
| TREE AILED STATEMENT OF FINANCIAL ACTIVITIES The Year Ended 30 June 2021 |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| INCOME AND ENDOWMENTS FROM: | ||
| Activities for generating funds | ||
| Donations and legacies | ||
| Donations | 25,515 | 10,725 |
| Grants | 5,697 | - |
| ______ | ______ | |
| Total incoming resources | 31,212 | 10,725 |
| ______ | ______ | |
| EXPENDITURE ON: | ||
| Support Costs | ||
| Software and Webservices | 217 | 5,825 |
| Field and travel expenses | - | 3,656 |
| Equipment costs | 525 | - |
| Sundries | 110 | - |
| Bank charges | 62 | 42 |
| ______ | ______ | |
| 914 | 9,523 | |
| Governance costs | ||
| Accounting and Legal | 559 | 780 |
| ______ | ______ | |
| 559 | 780 | |
| Other resources expended | ||
| Plant and machinery depreciation | (210) | 105 |
| ______ | ______ | |
| Total expenditure | 1,263 | 10,408 |
| ______ | ______ | |
| Net income / (expenditure) | 29,949 | 317 |
| ====== | ====== |
This page does not form part of the statutory financial statements Page 10