## **Olly's Future** Charitable Incorporated Organisation Annual Report and Financial Statements For the 12 months ended 31 March 2025 Charity registration number: 1187184 ## **Contents** 3 Charity Information 4 Report of the Trustees 5 Statement of Trustee Responsibilities 6 Independent Examiner’s Report 8 Receipts and Payments Account 10 Statement of Assets and Liabilities 11 Movement in funds 12 Notes to the Financial Statements 14 Trustee Signature Sheet ## **Charity Information** **Olly's Future For the 15 months ended 31 March 2024** ## **Trustees** Oskar Schortz, Chair Matthew Copeland, Trustee Ella Jarvest, Trustee Charles Thomson, 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 12 months ended 31 March 2025** The member presents the annual report together with the financial statements of the charity for the 12 Months ended 31 March 2025. ## **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 19th June, 2025 signed on its behalf by: ............... Oskar Schortz.. ........................ Oskar Schortz Chair ## **Statement of Trustees Responsibilities** **Olly's Future For the 12 months ended 31 March 2025** 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; - observe the methods and principles in the Charities SORP; - 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 ...19th June, 2025... and signed on its behalf by: ......... Oskar Schortz.. ............................... Oskar Schortz Chair **OLLY’S FUTURE** **Registered Charity Number 1187184** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE 12 MONTHS ENDED 31 MARCH 2025** I report on the accounts of the Trust for the 12 months ended 31 March 2025, 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: ● 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. ## **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: ● to keep accounting records in accordance with section 130 of the 2011 Act; and ● 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 12 MONTHS ENDED 31 MARCH 2025 - CONTINUED** Stuartt Seaton, FMAAT Seatown Accountancy Services Ltd Endless Tales 4 Samphire Drive Worthing West Sussex BN13 3RW Signature…………………………………………… Date…29th May 2025… ## **Receipts and Payments Account** ## **Olly's Future For the year ended 31 March 2025** **2025** ## **Income** Interest Income 1,788.53 Fundraising Income 9,137.99 St Martin in the Field Income 5,125.42 Charitable Activities - Training Delivery 46,455.24 Donations (Time Together) 2,265.13 Grants 21,750.00 Donations Received 19,026.87 **Total Income 105,549.18** ## **Payments** Salaries 46,454.84 Pensions Costs 721.59 IT Software And Consumables 1,125.33 Consulting 9,867.54 Refreshments 3,766.31 Travel - National 1,442.38 Printing & Stationery 2,646.20 Telephone & Internet 340.75 Costs of Charitable Activities (Training Delivery) 23,729.53 Audit & Accountancy Fees 4,651.11 Staff Training 270.35 Direct Expenses 199.91 Website 1,415.06 General Expenses 21.00 Insurance 145.60 Costs of charitable activities (general admin) 4,000.06 Advertising & Marketing 1,491.66 Postage, Freight & Courier 69.54 Subscriptions 697.88 Conferences and development 2,630.52 Fundraising Expenses 296.87 Freelance 3,955.00 **Total Payments 109,939.03** ## **Net receipts (payments) for the year (4,389.85)** ## **Plus Movements in Equity** Retained Earnings - Restricted (32,335.18) Retained Earnings - Unrestricted 32,335.18 **Total Movements in Equity -** ## **Net Cash Movement (4,389.85)** Receipts and Payments Account **2025** ## **Summary** Opening Balance 74,018.93 Plus Net Cash Movement (4,389.85) Balance of Fund at Year End 69,629.08 ## **Statement of Assets and Liabilities** ## **Olly's Future** ## **As at 31 March 2025** ## **Current assets** Debtors 5,950 Cash at bank and in hand 69,629 **Total Current assets 75,579** ## **Creditors: amounts falling due within one year** **NOTES 31 MAR 2025** Trade creditors 65 **Total Creditors: amounts falling due within one year 65** **Net current assets (liabilities) 75,514 Total assets less current liabilities 75,514 Net Assets 75,514** **2025** ## **Capital and reserves** Profit and loss account 71,158 Retained Earnings - Restricted 4,356 **Total Capital and reserves 75,514** ## **Movements in Funds** **Olly's Future For the year ended 31 March 2025** ## **Funds** Opening Balance 83,268.93 **Retained Earnings** **Increases** Profit for the Period (7,754.85) Other Increases (32,335.18) **Total Increases (40,090.03)** Retained Earnings - Unrestricted 32,335.18 **Total Retained Earnings (7,754.85)** **Total Funds 75,514.08** ## **Olly's Future** ## **Notes to the Financial Statements for the 12 Months Ended 31 March 2025** ## **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 12 Months Ended 31 March 2025** ## **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 12 months ended 31 March 2025** 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: 19th June, 2025 …………………………………. Oskar Schortz