Olly's Future
Charitable Incorporated Organisation Annual Report and Financial Statements For the 15 months ended 31 March 2024 Charity registration number: 1187184
Contents
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3 Charity Information
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4 Report of the Trustees
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5 Statement of Trustee Responsibilities
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6 Independent Examiner’s Report
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8 Receipts and Payments Account
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10 Statement of Assets and Liabilities
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11 Movement in funds
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12 Notes to the Financial Statements
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14 Trustee Signature Sheet
Charity Information
Olly's Future For the 15 months ended 31 March 2024
Trustees
Charles Thomson, Chair Matthew Copeland, Trustee Ella Jarvest, Trustee Oskar Schortz, Trustee Werwin Carlos, Trustee Rory Keddie, Trustee Zephan M A Trent, Trustee Theo Clay, Trustee
Principal Office
10 Queen Street Place London EC4R 1BE
Charity Registration Number
1187184
Company Number
CE020182
Independent Examiner
Seatown Accountancy Services Ltd Endless Tales 4 Samphire Drive Worthing West Sussex BN13 3RW
Report of the Trustees
Olly's Future
For the 15 months ended 31 March 2024
The member presents the annual report together with the financial statements of the charity for the 15 Months ended 31 March 2024.
Objectives and activities Public benefit
The member confirms that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature of governing document
Constitution adopted 2nd January 2020.
The annual report was approved by the member of the charity on .................... and signed on 27th June 2024 its behalf by:
.........................................
Charles Thomson Chair
Statement of Trustees Responsibilities
Olly's Future
For the 15 months ended 31 March 2024
The trustee is responsible for preparing the trustee's 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 trustee 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 member is required to:
• 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 judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The member is 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 member is 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.
Approved by the member of the charity on .................... and signed on its behalf by: 27th June 2024
......................................... Charles Thomson Chair
OLLY’S FUTURE
Registered Charity Number 1187184
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE 15 MONTHS ENDED 31 MARCH 2024
I report on the accounts of the Trust for the 15 months ended 31 March 2024, which are set out on pages 8 to 12.
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:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act;
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and To state whether particular matters have come to my attention.
Basis of independent examiner’s 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 statement 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:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and 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.
OLLY’S FUTURE
Registered Charity Number 1187184
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE 15 MONTHS ENDED 31 MARCH 2024 - CONTINUED
Stuartt Seaton, FMAAT Seatown Accountancy Services Ltd Endless Tales 4 Samphire Drive Worthing West Sussex BN13 3RW
Signature……………………………………………
Date…20th June 2024…
Receipts and Payments Account
Olly's Future
For the 15 months ended 31 March 2024
| Olly's Future For the 15 months ended 31 March 2024 |
|
|---|---|
| JAN 2023-MAR 2024 | |
| Income | |
| Interest Income | 0.71 |
| Fundraising Income | 8,122.58 |
| St Martin in the Field Income | 300.00 |
| Charitable Activities - Training Delivery | 46,725.00 |
| Donations (Time Together) | 5,983.34 |
| Grants | 32,945.00 |
| Donations Received | 11,423.94 |
| Total Income | 105,500.57 |
| Payments | |
| Salaries | 56,588.66 |
| Pensions Costs | 1,018.85 |
| IT Software And Consumables | 1,174.18 |
| Bank Fees | 1.29 |
| Consulting | 2,181.12 |
| Refreshments | 4,933.16 |
| Travel - National | 699.58 |
| Printing & Stationery | 400.48 |
| Telephone & Internet | 85.61 |
| Costs of Charitable Activities (Training Delivery) | 25,122.44 |
| Audit & Accountancy Fees | 4,034.90 |
| Staff Training | 154.10 |
| Direct Expenses | 1,024.60 |
| Repairs & Maintenance | 20.00 |
| Website | 2,355.06 |
| General Expenses | 42.09 |
| Insurance | 189.28 |
| Costs of charitable activities (general admin) | 4,012.60 |
| Advertising & Marketing | 861.73 |
| Postage, Freight & Courier | 4.19 |
| Subscriptions | 265.88 |
| Conferences and development | 10.00 |
| Fundraising Expenses | 101.07 |
| Freelance | 4,073.21 |
| Total Payments | 109,354.08 |
| Net receipts (payments) for the year | (3,853.51) |
| Plus Movements in Equity | |
| Retained Earnings - Restricted | (22,036.33) |
| Retained Earnings - Unrestricted | 22,036.33 |
| Total Movements in Equity | - |
Receipts and Payments Account
JAN 2023-MAR 2024
| Net Cash Movement | (3,853.51) |
|---|---|
| Summary | |
| Opening Balance | 85,372.44 |
| Plus Net Cash Movement | (3,853.51) |
| Balance of Fund at Year End | 81,518.93 |
Statement of Assets and Liabilities
Olly's Future As at 31 March 2024
| Olly's Future As at 31 March 2024 |
||
|---|---|---|
| NOTES | 31 MAR 2024 | |
| Current assets | ||
| Debtors | 8,750 | |
| Cash at bank and in hand | 81,519 | |
| Total Current assets | 90,269 | |
| Net current assets (liabilities) | 90,269 | |
| Total assets less current liabilities | 90,269 | |
| Net Assets | 90,269 | |
| Capital and reserves | ||
| Profit and loss account | 53,578 | |
| Retained Earnings - Restricted | 36,691 | |
| Total Capital and reserves | 90,269 |
20 Jun 2024 Page 9 of 12
Charity Accounts Olly's Future
Movements in Funds
Olly's Future
For the 15 months ended 31 March 2024
| Movements in Funds Olly's Future For the 15 months ended 31 March 2024 |
Movements in Funds Olly's Future For the 15 months ended 31 March 2024 |
Movements in Funds Olly's Future For the 15 months ended 31 March 2024 |
|---|---|---|
| JAN 2023-MAR 2024 | ||
| Funds | ||
| Opening Balance 85,372.44 Retained Earnings |
||
| Increases | ||
| Profit for the Period 4,896.49 |
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| Other Increases (22,036.33) |
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| Total Increases (17,139.84) |
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| Retained Earnings - Unrestricted 22,036.33 |
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| Total Retained Earnings 4,896.49 |
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| Total Funds 90,268.93 |
20 Jun 2024 Page 10 of 12
Charity Accounts Olly's Future
Olly's Future
Notes to the Financial Statements for the 15 Months Ended 31 March 2024
1 Accounting policies
Charity status
The charity is a charitable incorporated organisation as defined by and in accordance with the Charities Act 2011.
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
The financial statements are prepared on a receipts and payments basis.
Olly's Future 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 trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised upon receipt.
Expenditure
All expenditure is recognised upon payment. 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. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
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.
Olly's Future
Notes to the Financial Statements for the 15 Months Ended 31 March 2024
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustee’s 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustee's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Trustee Signature Sheet
Olly's Future
For the 15 months ended 31 March 2024
The financial statements included in this report, all of the figures and information were approved by the board of Trustees on …………………………… and were signed on its behalf by: 27/06/2024
………………………………….
Charles Thomson