Fair Shot
Annual Report and Financial Statements
Period ended 31[st] July 2021.
Registered charity Number 1190582
Fair Shot Annual Report and Financial Statements 31[st] July 2021
Contents
| Page | |
|---|---|
| Administrative details | 2 |
| ���������������s | 3 |
| Independent Examiner Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 |
Page 1
Fair Shot Annual Report and Financial Statements 31[st] July 2021
Administrative details
| Name of charity | Fair Shot |
|---|---|
| Governing document | CIO FOUNDATION - Registered 28thJuly 2020 |
| Registered charity number | 1190582 |
| Trustees and Directors | Jamie Bott (Trustee) |
| Antonella Miro (Trustee) | |
| Susan Jenkins (Trustee) | |
| Marco Taricco (Trustee) | |
| Aldina Tavella (Trustee) | |
| Registered office | 17 South Molton Street |
| London | |
| W1K 5QT | |
| Bankers | The Co-operative Bank |
| Independent Examiner | Faisal Khan t/a M J Golz |
| Odeon House, 146 College Road | |
| Harrow | |
| HA1 1BH |
Page 2
Fair Shot Annual Report and Financial Statements 31[st] July 2021
Trustees Report for the year ended 31[st] July 2021
Objectives and Activities
Summary of the purposes of the charity as set out in its governing document
To receive the needs of people with learning disabilities in any part of the world, in particular but not exclusively, by:
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Providing education, training and support for people with learning disability
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Helping find work placements and where possible paid work for said people
Fair Shot CIO remained dormant from July 2020 until September 2021 when it started its first Traineeship Programme with 12 Trainees. First board meeting was on the 24th of August 2021.
In the period between 28th July 2020 and 31st July 2021 I, the founder of Fair Shot CIO, worked on:
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�������������������������� - Attached to this report
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Creating partnerships with West London College, Action on Disability
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Received Business consultation and advice from Paul Bakery
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Fundraising to be able to open the cafe and start hiring staff - Summary of fundraising attached to this report and below:
Please note when it says Bianca Personal these are donations arriving directly from Just Giving Crowdfunding page as they only accept personal cards and not commercial.
| 18.01.2021 | Transferred from CIC bank account | £ 20,000.00 |
|---|---|---|
| 09.02.2021 | Transferred from CIC bank account | £ 125,824.24 |
| 15.03.2021 | Bianca personal / Just giving donations | £ 869.15 |
| 16.03.2021 | Goldman sachs foundation | £ 50,000.00 |
| 07.04.2021 | Go fund me - marathon | £ 1,068.47 |
| 19.04.2021 | Bianca personal / Just giving donations | £ 5,438.20 |
| 28.04.2021 | Bianca personal / Just giving donations | £ 3,388.91 |
| 06.05.2021 | Bailey Thomas | £ 5,000.00 |
| 06.05.2021 | Go fund me - marathon | £ 19.17 |
| 18.05.2021 | Bianca personal / Just giving donations | £ 751.02 |
| 25.06.2021 | Local Giving | £ 23.25 |
Fair Shot CIO trustees confirm they have had regard to the guidance issued by the Charity Commission on public benefit
Page 3
Fair Shot Annual Report and Financial Statements 31[st] July 2021
Achievements and Performance
Fair Shot CIO remained dormant from July 2020 until September 2021 when it started its first Traineeship Programme with 12 Trainees. First board meeting was on the 24th of August 2021
Financial Review
The charity received income in the form of Donations of £212,382 in the year ended 31[st] July 2021.
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| 18.01.2021 | Transferred from CIC bank account | £ 20,000.00 |
|---|---|---|
| 09.02.2021 | Transferred from CIC bank account | £ 125,824.24 |
| 15.03.2021 | Bianca personal / Just giving donations | £ 869.15 |
| 16.03.2021 | Goldman sachs foundation | £ 50,000.00 |
| 07.04.2021 | Go fund me - marathon | £ 1,068.47 |
| 19.04.2021 | Bianca personal / Just giving donations | £ 5,438.20 |
| 28.04.2021 | Bianca personal / Just giving donations | £ 3,388.91 |
| 06.05.2021 | Bailey Thomas | £ 5,000.00 |
| 06.05.2021 | Go fund me - marathon | £ 19.17 |
| 18.05.2021 | Bianca personal / Just giving donations | £ 751.02 |
| 25.06.2021 | Local Giving | £ 23.25 |
Expenditure for the year amounted to £3,670. The charity made a Surplus which has been carried forward into the next year as income of £208,712.
Net assets on 31[st] July 2021 of £208,712 consisting of cash.
Reserves Policy
Currently £208k is in reserve to be able to have enough funds to be able to open a Cafe (we ended up opening in December 2021 in 17 South Molton Street W1K 5QT)
Additional Information
Fundraising to help us set up cafe - private donations, Goldman Sachs foundation grant £50k, Prospero World Trust grant £50k, Bloomfield trust grant £30k, Just Giving crowdfunding £50k
Page 4
Fair Shot Annual Report and Financial Statements 31[st] July 2021
Structure, Governance, and Management
Option 1
- Apart from the first charity trustees, every trustee must be appointed (for a term of (three years) by a resolution passed a properly convened meeting of the charity trustees
(2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO
Names of the charity trustees who manage the charity
| 1 | Aldina Tavella | 27 July 2020 | |
| 2 | Marco Taricco | 27 May 2021 | |
| 3 | Susan Jenkins | 27 May 2021 | |
| 4 | Antonella Miro | 27 May 2021 | |
| 5 | Jamie Bott | 02 February 2022 |
Page 5
Fair Shot Annual Report and Financial Statements 31[st] July 2021
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The Trustees are responsible for preparing the T ���������������������������������������������������� 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 these financial statements, the Trustees are required to:
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��������������������� estimates that are reasonable and prudent
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���������������� nancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Preparation of the report
The report was approved and authorised for issue by the Trustees on 25[th] May 2022 and is signed on behalf of the Trustees by: -
Chair
Page 6
Fair Shot Annual Report and Financial Statements 31[st] July 2021
��������������������������������������������� For the period ended 31[st] July 2021
I report to the Trustees on my examination of the accounts of the charitable company for the year ended 31[st] July 2021.
Responsibilities and basis of report
The charity Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiners statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 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).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
Approved on 31[st] May 2022:
Faisal Khan ACCA
Page 7
Fair Shot Annual Report and Financial Statements 31, july 2021 Statement of Financial Artivities lin¢ludinE surnrnary of Incorne and Expenditure Attountl Year EndinE 31st July 2021 Note Unrestricted Funds Restricted Funds T•t41 Funds Prior Year Funds Charitable Activitie5 Donations Received 162.748 49,634 212,382 Expenditure on,. Dirert Expenses Consulting Accountancy Fees 370 370 31K) 3,670 Net (Expenditurelllncome 159.078 49,634 208,712 Reconciliation of funds- Total funds brought forward Total funds tarried forward 159,078 49,634 208,712 Page 8
Fair Shot Annual Report and Financial Statements 31[st] July 2021
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies � regime and in accordance with FRS102 SORP.
The accounts were approved by the Trustees on 25[th] May 2022 and signed on their behalf by: -
Chair
Page 9
Fair Shot Annual Report and Financial Statements 31[st] July 2021
Notes to the financial statements
1 Basis of preparation
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these accounts.
The accounts have been prepared in accordance with:
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the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (the Charities SORP); and
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the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102);
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the Charities Act 2011.
The Trustees consider that there are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern.
The accounts have been prepared under the Charities SORP for the first time. Although the format of the accounts differs from that applied in the past, no changes have been made to amounts previously reported.
No material prior year error has been identified in the reporting period.
2 Accounting policies
Income
Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability. Performance related grants are recognised to the extent that the charity has provided the specified goods or services.
It is not practical to value the monetary value of donated time.
Expenditure and liabilities
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Page 10
Fair Shot Annual Report and Financial Statements 31[st] July 2021
The charity has no employees and, therefore, no employee earning more than £30,000 per annum.
None of the trustees have been paid any remuneration or received any other benefits from employment with this charity or a related entity.
No trustee expenses have been incurred.
Page 11