2023-11-01-accounts

Charity Registration No. 1187204

THE LUCA FOUNDATION

(A CHARITABLE INCORPORATED ORGANISATION)

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023

ANSARI & CO

Charity Accountants

BIRMINGHAM

B28 8JG

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

CONTENTS

FOR THE YEAR ENDED 1 NOVEMBER 2023

_______________

	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 2023

_______________

Trustees	Sharon Luca-Chatha	Chair
	Sandra Garlick MBE
	Hana Smiddy
	Jamil Shabir	(appointed on: 15 December 2022)
	Britanie Jeffery	(appointed on: 05 May 2023)
	Arvinder Samra	(appointed on: 20 June 2023)
	Andrew Beaumont	(appointed on: 15 May 2024)
	Jenny McDonald	(resigned on: 1 December 2023)
	Wendy Morris	(resigned on: 1 November 2023)
	Mark Harris	(resigned on: 1 May 2023)
Principal Address	Berkeley House
	6 The Square
	Kenilworth
	Warwickshire
	CV8 1EB
Charity Number	1187204
Independent Examiner	Mohammad Ansari
	Ansari & Co
	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 2023

_______________

The Trustees present their report and financial statements for the year ended 1 November 2023. 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 seven 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 2023

_______________

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

The charity successfully met its 2023 goals by raising over £10,000 and increasing repair efforts nationwide. We also heightened our awareness campaigns with the NHS across the country.

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 £24,141 (2022: £30,112) with expenditure of £34,659 (2022: £17,976).

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 (2022: £Nil). Fixed assets are used for charitable purposes and enable staff and volunteers to provide an optimum service to the public.

4

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 1 NOVEMBER 2023

_______________

Financial review (cont.)

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 £10,774 at the end of the year (2022: £21,292). At 1 November 2023, the charity held £11,474 (2022: £21,642) at the bank and in cash.

Going concern

The Charity reported a net cash outflow of £10,168 (2022: £12,486 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 and for at least 12 months from the date of signing these financial statements, as required.

Future plans

For 2024, we have set similar objectives to 2023. We aim to continue raising awareness, securing funds, hosting events, and expanding our charity's impact.

We are committed to achieving even greater success in the coming year.

5

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 1 NOVEMBER 2023

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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 2024 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 2023

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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 2023 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 2023

_______________

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

Charity Accountants Kings Court, 17 School Road Birmingham B28 8JG

Dated: 21 August 2024

8

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 NOVEMBER 2023

______________

		Unrestricted	Total	Unrestricted	Total
		Funds	Funds	Funds	Funds
	Note	2023	2023	2022	2022
		£	£	£	£
Income from:
Donations and legacies	2	9,296	9,296	11,381	11,381
Charitable activities	3	3,000	3,000	12,500	12,500
Other trading activities	4	11,845	11,845	6,231	6,231
		___	___	___	___
Total income		24,141	24,141	30,112	30,112
		___	___	___	___
Expenditure on:
Raising funds	5	9,814	9,814	5,800	5,800
Charitable activities	6	24,845	24,845	12,176	12,176
		___	___	___	___
Total expenditure		34,659	34,659	17,976	17,976
		___	___	___	___
Net movement in funds		(10,518)	(10,518)	12,136	12,136
Reconciliation of funds:
Total funds brought forward		21,292	21,292	9,156	9,156
		___	___	___	___
Total funds carried forward	10	10,774	10,774	21,292	21,292
		___	___	___	___

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 2023

----- Start of picture text -----
____________
2023 2022
Note £ £ £ £
Current assets
Cash at bank and in-hand 11,474 21,642
_ __
11,474 21,642
Creditors: amounts falling due
within one year 9 700 350
_ _
Net current assets 10,774 21,292
_ __
Net assets 10,774 21,292
_ ______
Funds
Unrestricted funds:
General funds 10,774 21,292
_ __
10 10,774 21,292
__ ___
----- End of picture text -----

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 2023

CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2023	CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2023	CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2023	CASH FLOW STATEMENT FOR THE YEAR ENDED 1 NOVEMBER 2023
_______________
	Note	2023	2022
		£	£
Cash flows from operating activities:
Net cash provided by operating activities	13	(10,168)	12,486
		___	___
Increase / (decrease) in cash & cash equivalents
in the reporting year		(10,168)	12,486
		___	___
Cash & cash equivalents at the beginning of
the reporting year		21,642	9,156
		___	___
Cash & cash equivalents at the end of the
reporting year	14	11,474	21,642
		___	___

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 2023

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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 2023

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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 2023

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2. Donations and legacies

	Unrestricted	Total	Total
	Funds	Funds	Funds
	2023	2023	2022
	£	£	£
Voluntary donations	9,296	9,296	11,381
	___	___	___
	9,296	9,296	11,381
	___	___	___
3. Charitable activities - income
	Unrestricted	Total	Total
	Funds	Funds	Funds
	2023	2023	2022
	£	£	£
Grants	3,000	3,000	12,500
	___	___	___
	3,000	3,000	12,500
	___	___	___
4. Other trading activities
	Unrestricted	Total	Total
	Funds	Funds	Funds
	2023	2023	2022
	£	£	£
Events Sponsorships	5,899	5,899	300
Fundraising events & tickets	5,946	5,946	5,931
	___	___	___
	11,845	11,845	6,231
	___	___	___

14

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023	NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023	NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023	NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023
_______________
5. Raising funds
	Unrestricted	Total	Total
	Funds	Funds	Funds
	2023	2023	2022
	£	£	£
Fees	216	216	54
Fundraising events	9,598	9,598	5,746
	___	___	___
	9,814	9,814	5,800
	___	___	___
6. Charitable activities - costs
	Unrestricted	Total	Total
	Funds	Funds	Funds
	2023	2023	2022
	£	£	£
New Cots provided	-	-	2,950
Cot repairs	10,438	10,438	4,395
Teddy Bears	5,610	5,610	-
Courses	565	565	-
Office costs	966	966	3,088
Governance costs	7,254	7,254	1,505
Other costs	12	12	238
	___	___	___
	24,845	24,845	12,176
	___	___	___
7. Net incoming resources for the period
		2023	2022
This is stated after charging:-		£	£
Examiners’ remuneration		350	350
		___	___

15

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023

_______________

8. Trustees

During the year £6,320 (2022: £2,019) of cost was incurred for reimbursement of time and expenses by one trustee in connection with the Charity’s business. The Trustees received no other remuneration in the year or the prior year.

9. Creditors

Amounts falling due within one year

				2023	2022
				£	£
Accruals				700	350
				___	___
				700	350
				___	___
10. Statement of funds
	Brought	Incoming	Resources	Transfers	Carried
	forward	resources	expended		forward
	£	£	£	£	£
(a) 2023:
Unrestricted funds
General reserve	21,292	24,141	(34,659)	-	10,774
	_	__	__	___	___
Total funds	21,292	24,141	(34,659)	-	10,774
	_	__	__	___	___
(b) 2022:
Unrestricted funds
General reserve	9,156	30,112	(17,976)	-	21,292
	_	__	__	___	___
Total funds	9,156	30,112	(17,976)	-	21,292
	_	__	__	___	___

16

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023

_______________

11. Analysis of net assets between funds
(c) 2023:
	Unrestricted	Total
	funds
	£	£
Fund balances at 1 November 2023 are represented by:
Net current assets	10,774	10,774
	____	____
Total funds	10,774	10,774
	____	____
(d) 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
	____	____
12. Related parties
There were no related party transactions in the year or the prior year.
13. Reconciliation of cash flows from operating activities
	2023	2022
	£	£
Net income / (expenditure) for the reporting year	(10,518)	12,136
Increase / (decrease) in creditors	350	350
	___	___
Net cash provided by operating activities	(10,168)	12,486
	___	___

17

THE LUCA FOUNDATION (A CHARITABLE INCORPORATED ORGANISATION)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023

_______________

14. Analysis of cash and cash equivalents

14. Analysis of cash and cash equivalents
		2023	2022
		£	£
Cash in hand		11,474	21,642
		___	___
Total of cash and cash equivalents		11,474	21,642
		___	___
14A. Analysis of changes in net debt
	At start	Cashflows	At end
	of year	in year	of year
	£	£	£
Cash in hand	21,642	(10,168)	11,474
	___	___	___
	21,642	(10,168)	11,474
	___	___	___

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