REGISTERED CHARITY NUMBER: 1190691
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance the education of the public in general through the provision of courses and learning programs which improve skills and knowledge to advance their mental, physical and moral capabilities for the public benefit.
To promote learning for pleasure by people no longer in full time employment through the continued development of their individual capabilities, competencies, skills and understanding in subjects of educational value.
To assist in such ways as the charity trustees think fit any charity whose aims include advancing education of persons, particularly but not exclusively under the age of 25 years, by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; through formal learning and/or leisure time activities.
The prevention or relief of financial hardship and poverty by providing: grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.
Public benefit
The Trustees have taken due heed of their obligations relating to Public Benefit Duty affecting charities, as well as to their obligations under the Equalities Act 2010. The Trustees are satisfied that they meet their obligations.
Grantmaking
Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity is dependent on income from voluntary donations The charity's incoming resources during the year were £165,324 (2022: £218,870) and donations made totalled £69,606 (2022: £76,461).
FINANCIAL REVIEW
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the working capital of the charity.
FUTURE PLANS
The future goals of the charity are to continue carrying out its objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Westcliff Studies is a Charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution dated 3rd March 2019. The charity was registrated with charity commission on the 3rd of August 2020.
Recruitment and appointment of new trustees
It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 1
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1190691
Principal address
128 ELECTRIC AVENUE WESTCLIFF-ON-SEA SS0 9NJ
Trustees
N Hammer O D Horovits Y Teichman
Independent Examiner
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
Approved by order of the board of trustees on 24 January 2024 and signed on its behalf by:
Y Teichman - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION
(C.I.O)
Independent examiner's report to the trustees of WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
I report to the charity trustees on my examination of the accounts of WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O) (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 in order to enable a proper understanding of the accounts to be reached.
M A VENITT A.C.A
Venitt and Greaves Chartered Accountants 115 Craven Park Road South Tottenham London N15 6BL
24 January 2024
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WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 31.3.23 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 165,324 Investment income 2 1,800 Total 167,124 EXPENDITURE ON Charitable activities General 144,169 NET INCOME 22,955 RECONCILIATION OF FUNDS Total funds brought forward 98,136 TOTAL FUNDS CARRIED FORWARD 121,091 |
31.3.22 Total funds £ 218,870 - |
|---|---|
| 218,870 | |
| 121,601 | |
| 97,269 867 |
|
| 98,136 |
The notes form part of these financial statements
Page 4
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
BALANCE SHEET 31 MARCH 2023
| 31.3.23 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 80,360 CURRENT ASSETS Debtors 6 136,400 Cash at bank 13,066 149,466 CREDITORS Amounts falling due within one year 7 (108,735) NET CURRENT ASSETS 40,731 TOTAL ASSETS LESS CURRENT LIABILITIES 121,091 NET ASSETS/(LIABILITIES) 121,091 FUNDS 8 Unrestricted funds 121,091 TOTAL FUNDS 121,091 |
31.3.22 Total funds £ 82,000 126,000 18,094 144,094 (127,958) 16,136 98,136 98,136 98,136 98,136 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24 January 2024 and were signed on its behalf by:
Y Teichman - Trustee
N Hammer - Trustee
The notes form part of these financial statements
Page 5
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION
(C.I.O)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property
- 2% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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continued...
WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| £ | £ | ||
| Rents received | 1,800 | - |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
5.
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 218,870 |
| EXPENDITURE ON | |
| Charitable activities | |
| General | |
| 121,601 | |
| NET INCOME | 97,269 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 867 |
| TOTAL FUNDS CARRIED FORWARD | 98,136 |
| TANGIBLE FIXED ASSETS | |
| Improvements | |
| to | |
| property | |
| £ | |
| COST | |
| At 1 April 2022 and 31 March 2023 | 82,000 |
| DEPRECIATION | |
| Charge for year | 1,640 |
| NET BOOK VALUE | |
| At 31 March 2023 | 80,360 |
| At 31 March 2022 | 82,000 |
continued...
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WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors Prepayments 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 8. MOVEMENT IN FUNDS At 1.4.22 £ Unrestricted funds General fund 98,136 TOTAL FUNDS 98,136 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 167,124 TOTAL FUNDS 167,124 Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund 867 TOTAL FUNDS 867 |
31.3.23 31.3.22 £ £ 10,400 - 126,000 126,000 136,400 126,000 31.3.23 31.3.22 £ £ 108,735 127,958 Net movement At in funds 31.3.23 £ £ 22,955 121,091 22,955 121,091 Resources Movement expended in funds £ £ (144,169) 22,955 (144,169) 22,955 Net movement At in funds 31.3.22 £ £ 97,269 98,136 97,269 98,136 |
|---|---|
continued...
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WESTCLIFF STUDIES CHARITABLE INCORPORATED ORGANISATION (C.I.O)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 218,870 218,870 |
Resources Movement expended in funds £ £ (121,601) 97,269 (121,601) 97,269 |
Resources Movement expended in funds £ £ (121,601) 97,269 (121,601) 97,269 |
|---|---|---|---|
| 97,269 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.21 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 867 | 120,224 | 121,091 |
| TOTAL FUNDS | 867 | 120,224 | 121,091 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 385,994 385,994 |
Resources Movement expended in funds £ £ (265,770) 120,224 (265,770) 120,224 |
Resources Movement expended in funds £ £ (265,770) 120,224 (265,770) 120,224 |
|---|---|---|---|
| 120,224 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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