Charity Registration No. 1187204
THE LUCA FOUNDATION
(A CHARITABLE INCORPORATED ORGANISATION)
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
ANSARI & CO LIMITED
Charity Accountants & Consultants
BIRMINGHAM
B28 8JG
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
CONTENTS
FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
| Pages | |
|---|---|
| Legal and Administrative Information | 2 |
| Trustees’ Report | 3 – 6 |
| Independent Examiner’s Report | 7 – 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Financial Statements | 12 – 18 |
1
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
| Trustees | Sharon Luca-Chatha | Chair |
|---|---|---|
| Mark Harris | (appointed on: 20 October 2022) | |
| Sandra Garlick MBE | (appointed on: 22 February 2022) | |
| Wendy Morris | (appointed on: 18 May 2022) | |
| Hana Smiddy | (appointed on: 24 May 2022) | |
| Jenny McDonald | (appointed on: 27 May 2022) | |
| TBC | (resigned on: 24 May 2022) | |
| TBC | (resigned on: 27 May 2022) | |
| Principal Address | Berkeley House | |
| 6 The Square | ||
| Kenilworth | ||
| Warwickshire | ||
| CV8 1EB | ||
| Charity Number | 1187204 | |
| Independent Examiner | Mohammad Ansari | |
| Ansari & Co Limited | ||
| Kings Court, 17 School Road | ||
| Birmingham | ||
| B28 8JG | ||
| Bankers | Lloyds Bank Plc | |
| 120 Lewisham High Street | ||
| London | ||
| SE13 6JG |
2
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES’ REPORT FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
The Trustees present their report and financial statements for the year ended 1 November 2022. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 01 January 2021).
Structure, governance and management
Governing document/Constitution
The organisation is a Charitable Incorporated Organisation (CIO). The charity was established by Constitution signed and registered with the Charity Commission on 6 January 2020, under number 1187204.
Tax status
The charity is registered as a CIO and is therefore exempt from corporation tax and income tax.
Recruitment and training of trustees
The Board of Trustees currently consists of six members who were recruited due to their commitment and expertise. Role descriptions, where applicable, are issued to each Trustee and a full induction is given setting out the obligations of a Trustee. The list of current Trustees can be found on page 2 of this document.
Organisational structure
The Charity is principally based in Kenilworth, Warwickshire but works with NHS hospitals and health organisations across the United Kingdom. The Trustees are responsible for the governance of the Charity, and the day-to-day management is performed by the Trustees and volunteers.
Key risks and uncertainties
The Trustees actively review the major risks which the Charity faces on a regular basis, in particular those relating to its operations and finances. They are satisfied that systems are in place to mitigate the charity’s exposure to the major risks. The risk management strategy comprises:
-
A regular review of the risks which the Charity may face;
-
The adequacy of current systems and procedures to mitigate those risks identified in the strategy; and
-
The implementation of procedures designed to minimise any potential risk on the Charity should any of those risks materialise.
The strategy is reviewed regularly by the Trustees.
3
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES’ REPORT
FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
Aims, objectives and activities
Aims, objectives and intended impacts
Objects:
The objects of, The Luca Foundation, are to preserve and protect the health of parents and families who have suffered a stillbirth or neonatal death in particular but not exclusively by the provision of 'cold cuddle cots' and such other support as the trustees may from time to time determine.
Public benefit statement
The section of this report above entitled ‘Aims, objectives and activities’ sets out the aims and priorities of the Charity. The Trustees have considered this matter, in conjunction with the guidance contained in the Charity Commission’s general guidance on public benefit, and have concluded:
-
That the aims of the Charity continue to be charitable;
-
That the aims and work done give identifiable benefits to the charitable sector and both indirectly and directly to individuals in need;
-
That the benefits are for the public, are not unreasonably restricted in any way and certainly not by ability to pay
-
That there is no detriment or harm arising from the aims or activities.
Review of achievements and performance for the year
TBC
4
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
TRUSTEES’ REPORT
FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
Financial review
Principal sources of funding
The principal source of funding for the Charity is from individual donors and charitable grants within the UK. Income in the year amounted to £30,112 (2021: £7,582) with expenditure of £17,976 (2021: £1,943).
Costs were kept under rigid control during the year and monitored regularly.
Capital expenditure on fixed assets after the transfer of assets during the year amounted to £Nil (2021: £Nil). Fixed assets are used for charitable purposes and enable staff and volunteers to provide an optimum service to the public.
Reserves Policy
The Charity holds unrestricted funds which have been provided to the charity via donations and grants. The Trustees maintain sufficient cash reserves to meet on-going commitments.
The unrestricted funds represent income earned but not yet utilised in supporting charitable activities and amounted to £21,292 at the end of the year (2021: £9,156). At 1 November 2022, the charity held £21,642 (2021: £9,156) at the bank and in cash.
Going concern
The Charity reported a cash inflow of £12,486 (2021: £5,639 net inflow) for the year and expects to make an inflow in the year to 1 November 2023 also. After making further appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for at least 12 months from the date of signing these financial statements.
Future plans
TBC
5
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
Statement of Trustees’ responsibilities
The Trustees are required to prepare financial statements for each financial year in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of resources, including the net income and expenditure for the year. In preparing those financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
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 Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and all other applicable law. They 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.
Accounts preparation
The Trustees confirm that the accounts comply with current statutory requirements, and with those of the governing instrument.
This report was approved by the Trustees on 21 August 2023 and signed on their behalf, by:
Sharon Luca-Chatha Chair
6
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
Independent Examiner’s Report to the Trustees of THE LUCA FOUNDATION
I report on the financial statements of the charity for the year ended 1 November 2022 which is set out on pages 9 to 18.
This report is made solely to the charity’s Trustees, as a body, in accordance with section 145 and the regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for my work, for this report, or for the opinions I have formed.
Respective Responsibilities of Trustees and Examiner
The Trustees are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:
-
examine the financial statements under section 145 of the Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act; and
-
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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the Trustees, concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements.
7
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
Independent Examiner’s Statement
In the course of 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 Act; and
-
to prepare financial statements which accord with the accounting records and comply with accounting requirements of the Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Mohammad Ansari
Ansari & Co Limited
Charity Accountants & Consultants Kings Court, 17 School Road Birmingham B28 8JG
Dated: 21 August 2023
8
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
| Unrestricted | Total | Unrestricted | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| Note | 2022 | 2022 | 2021 | 2021 | |
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations and legacies |
2 | 11,381 | 11,381 | 4,456 | 4,456 |
| Charitable activities |
3 | 12,500 | 12,500 | - | - |
| Other trading activities |
4 | 6,231 | 6,231 | 3,126 | 3,126 |
| ___ | ___ | ___ | ___ | ||
| Total income | 30,112 | 30,112 | 7,582 | 7,582 | |
| ___ | ___ | ___ | ___ | ||
| Expenditure on: | |||||
| Raising funds |
5 | 5,800 | 5,800 | 1,655 | 1,655 |
| Charitable activities |
6 | 12,176 | 12,176 | 288 | 288 |
| ___ | ___ | ___ | ___ | ||
| Total expenditure | 17,976 | 17,976 | 1,943 | 1,943 | |
| ___ | ___ | ___ | ___ | ||
| Net movement in funds | 12,136 | 12,136 | 5,639 | 5,639 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 9,156 | 9,156 | 3,517 | 3,517 | |
| ___ | ___ | ___ | ___ | ||
| Total funds carried forward |
10 | 21,292 | 21,292 | 9,156 | 9,156 |
| ___ | ___ | ___ | ___ |
All incoming resources and resources expended derive from continuing activities.
The notes on pages 12 to 18 form part of these financial statements.
9
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
BALANCE SHEET AS AT 1 NOVEMBER 2022
| BALANCE SHEET AS AT 1 NOVEMBER 2022 |
BALANCE SHEET AS AT 1 NOVEMBER 2022 |
BALANCE SHEET AS AT 1 NOVEMBER 2022 |
BALANCE SHEET AS AT 1 NOVEMBER 2022 |
BALANCE SHEET AS AT 1 NOVEMBER 2022 |
BALANCE SHEET AS AT 1 NOVEMBER 2022 |
|---|---|---|---|---|---|
| _____________ | |||||
| 2022 | 2021 | ||||
| Note | £ | £ | £ | £ |
|
| Current assets | |||||
| Cash at bank and in-hand | 21,642 | 9,156 | |||
| ____ | ___ | ||||
| 21,642 | 9,156 | ||||
| Creditors:amounts falling due | |||||
| within one year | 9 | 350 | - | ||
| ____ | ___ | ||||
| Net current assets | 21,292 | 9,156 | |||
| ____ | ___ | ||||
| Net assets | 21,292 | 9,156 | |||
| ____ | ___ | ||||
| Funds | |||||
| Unrestricted funds: | |||||
| General funds | 21,292 | 9,156 | |||
| ____ | ___ | ||||
| 10 | 21,292 | 9,156 | |||
| ____ | ___ |
The notes on pages 12 to 18 form part of these financial statements.
The financial statements were approved by the Trustees on 21 August 2023 and signed on their behalf, by:
Sharon Luca-Chatha Chair
10
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2022
| CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2022 |
CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2022 |
CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2022 |
CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2022 |
|---|---|---|---|
| _______________ | |||
| Note | 2022 | 2021 | |
| £ | £ | ||
| Cash flows from operating activities: | |||
| Net cash provided by operating activities | 13 | 12,486 | 5,639 |
| ___ | ___ | ||
| Increase / (decrease) in cash & cash equivalents | |||
| in the reporting year | 12,486 | 5,639 | |
| ___ | ___ | ||
| Cash & cash equivalents at the beginning of | |||
| the reporting year | 9,156 | 3,517 | |
| ___ | ___ | ||
| Cash & cash equivalents at the end of the | |||
| reporting year | 14 | 21,642 | 9,156 |
| ___ | ___ |
The notes on pages 12 to 18 form part of these financial statements.
11
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
1. Accounting policies
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 2021) - (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Charity 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.
The following principal accounting policies have been applied:-
a) Incoming resources
Income includes the total funds received during the period and comprises donations collected directly or by volunteers and income from fundraising events. Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty.
Income tax reclaimable under the Gift Aid Scheme is recognised on an accruals basis.
Donors are given the option to restrict their donation when it is made. Any Gift Aid claimed on restricted donations is classed as unrestricted income as per agreement with donors.
b) Resources expended and basis of allocation
Expenditure is included when incurred and has been shown in the Statement of Financial Activities inclusive of non-recoverable Value Added Tax.
Expenditure on operational programmes is recognised in the period in which it is incurred.
Currently all costs are directly attributable to specific activities, but where required, certain shared costs will be apportioned to activities in furtherance of the objects of the Charity.
12
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
1. Accounting policies (cont.)
c ) Funds accounting
Funds held by the charity are:
Unrestricted funds - These are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Designated funds – These are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
d) Fixed assets
Fixed assets are stated at cost less accumulated depreciation. The costs of additions below £500 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:-
Equipment - 25% per annum, straight line depreciation
e) Creditors
Trade and other creditors are recognised at the settlement amount due after any trade discount offered. Accruals are valued at the amount expected due net of any trade discounts due.
f) Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
13
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
2. Donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| Funds | Funds |
Funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Voluntary donations | 11,381 | 11,381 | 4,456 |
| ___ | ___ | ___ | |
| 11,381 | 11,381 | 4,456 | |
| ___ | ___ | ___ | |
| 3. Charitable activities - income | |||
| Unrestricted | Total | Total | |
| Funds | Funds |
Funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Grants | 12,500 | 12,500 | - |
| ___ | ___ | ___ | |
| 12,500 | 12,500 | - | |
| ___ | ___ | ___ | |
| 4. Other trading activities | |||
| Unrestricted | Total | Total | |
| Funds | Funds | Funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Events Sponsorships | 300 | 300 | 1,016 |
| Fundraising events & tickets | 5,931 | 5,931 | 2,110 |
| ___ | ___ | ___ | |
| 6,231 | 6,231 | 3,126 | |
| ___ | ___ | ___ |
14
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
| 5. Raising funds | |||
|---|---|---|---|
| Unrestricted | Total | Total | |
| Funds | Funds | Funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Fees | 54 | 54 | - |
| Fundraising events | 5,746 | 5,746 | 1,655 |
| ___ | ___ | ___ | |
| 5,800 | 5,800 | 1,655 | |
| ___ | ___ | ___ | |
| 6. Charitable activities - costs | |||
| Unrestricted | Total | Total | |
| Funds | Funds | Funds |
|
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| New Cots provided | 2,950 | 2,950 | - |
| Cot repairs | 4,395 | 4,395 | 288 |
| Office costs | 3,088 | 3,088 | - |
| Governance costs | 1,505 | 1,505 | - |
| Other costs | 238 | 238 | - |
| ___ | ___ | ___ | |
| 12,176 | 12,176 | 288 | |
| ___ | ___ | ___ | |
| 7. Net incoming resources for the period | |||
| 2022 | 2021 | ||
| This is stated after charging:- | £ | £ | |
| Examiners’ remuneration | 350 | - | |
| ___ | ___ |
8. Trustees
During the year £2,019 (2021: £Nil) of expenses were incurred for reimbursement of expenses by one trustee in connection with the Charity’s business. The Trustees received no other remuneration in the year or the prior year.
15
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
9. Creditors
Amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Accruals | 350 |
- |
| ___ | ___ | |
| 350 | - | |
| ___ | ___ |
10. Statement of funds
| Brought | Incoming | Resources | Transfers | Carried | |
|---|---|---|---|---|---|
| forward | resources | expended | forward | ||
| £ | £ |
£ | £ | £ | |
| (a) 2022: | |||||
| Unrestricted funds | |||||
| General reserve | 9,156 | 30,112 | (17,976) | - | 21,292 |
| _ | __ | __ | ___ | ___ | |
| Total funds | 9,156 | 30,112 | (17,976) | - | 21,292 |
| _ | __ | __ | ___ | ___ | |
| (b) 2021: | |||||
| Unrestricted funds | |||||
| General reserve | 3,517 | 7,582 | (1,943) | - | 9,156 |
| _ | __ | __ | ___ | ___ | |
| Total funds | 3,517 | 7,582 | (1,943) | - | 9,156 |
| _ | __ | __ | ___ | ___ |
16
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
| 11. Analysis of net assets between funds | ||
|---|---|---|
| (c) 2022: | ||
| Unrestricted | Total | |
| funds | ||
| £ | £ | |
| Fund balances at 1 November 2022 are represented by: | ||
| Net current assets | 21,292 | 21,292 |
| ____ | ____ | |
| Total funds | 21,292 | 21,292 |
| ____ | ____ | |
| (d) 2021: | ||
| Unrestricted | Total | |
| funds | ||
| £ | £ | |
| Fund balances at 1 November 2022 are represented by: | ||
| Net current assets | 9,156 | 9,156 |
| ____ | ____ | |
| Total funds | 9,156 | 9,156 |
| ____ | ____ | |
| 12. Related parties | ||
| There were no related party transactions in the year or the prior year. | ||
| 13. Reconciliation of cash flows from operating activities |
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Net income / (expenditure) for the reporting year |
12,136 |
5,639 |
| Increase / (decrease) in creditors | 350 | - |
| ___ | ___ | |
| Net cash provided by operating activities | 12,486 | 5,639 |
| ___ | ___ |
17
THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2022
_______________
14. Analysis of cash and cash equivalents
| 14. Analysis of cash and cash equivalents | |||
|---|---|---|---|
| 2022 | 2021 | ||
| £ | £ | ||
| Cash in hand | 21,642 | 9,156 | |
| ___ | ___ | ||
| Total of cash and cash equivalents | 21,642 | 9,156 | |
| ___ | ___ | ||
| 14A. Analysis of changes in net debt | |||
| At start | Cashflows | At end | |
| of year | in year | of year | |
| £ | £ | £ | |
| Cash in hand | 9,156 | 12,486 | 21,642 |
| ___ | ___ | ___ | |
| 9,156 | 12,486 | 21,642 | |
| ___ | ___ | ___ |
18