ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024
FRIENDS INDEED
(Charitable Incorporated Organisation)
CHARITY REGISTRATION NUMBER: 1191077
Castle View Accounting Ltd Ground Floor Offices
53 High Street Arundel West Sussex BN18 9AJ
FRIENDS INDEED
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal and Administrative Information |
|---|---|
| Page 4 | Trustees' Report |
| Page 5 | Statement of Financial Activities |
| Page 6 | Balance Sheet |
| Pages 7 to 11 | Notes to the Financial Statements |
| Page 12 | Independent Examiner's Report |
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FRIENDS INDEED
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1191077 DATE OF REGISTRATION 31st August 2020 START OF FINANCIAL YEAR 6th April 2023 END OF FINANCIAL YEAR 5th April 2024 TRUSTEES AT 5TH APRIL 2024 Maria Maracine Maria Daniela Maracine Adrian Tataru Mircea Tataru LEGAL STATUS Charitable Incorporated Organisation
GOVERNING INSTRUMENT
CIO - Association Registered 31st August 2020
OBJECTS
To promote humane behaviour towards animals by providing appropriate care, protection, treatment and security for animals which are in need of care and attention by reason of sickness, maltreatment, poor circumstances or ill usage and to educate the public in matters pertaining to animal welfare in general and the prevention of cruelty and suffering among animals.
CORRESPONDENCE ADDRESS
PRIMARY BANKERS
INDEPENDENT EXAMINERS
New Lodge Farm Red Lodge Road Polebrook Peterborough PE8 5LL Barclays Bank Plc 1 Churchill Place London E14 5HP Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
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FRIENDS INDEED
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Other Incoming Resources 3b TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 74,461 - 74,461 40,149 - - - 2,796 74,461 - 74,461 42,944 66,967 - 66,967 48,146 960 - 960 960 67,927 - 67,927 49,106 6,535 - 6,535 (6,161) (8,445) - (8,445) (2,284) (1,910) - (1,910) (8,445) |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 7 to 11 form part of these financial statements.
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FRIENDS INDEED (charitse Incorwjrnled Cxgar4satson) BALANCE SHEET AS AT 5TH APRIL 2024 Restrh*d TOTAL OWr.24 TOTAL O&Apr-13 Fur Flxod Asjols T8nglUe Assets Inveskneffjl Totsi Flx•d AOts CurMntAssol• Debttn & PrepayTrents Cash al Bank and in Yotst CurF•nt Ast•ts 753 753 92 92 753 Cr•ditoTh". du•¥AM wyew 6.537 NET CURRENT AssErs 11.910) {1.910) 18,4451 TOTAL ASSETS l¢M ¢xYrert 11.9101 18.4451 Crnditorn.. ¢hk• Ih one er NET ASSETS 1.910 Fundl ol¢ho Ch•rtty neral Re¥irtthd Funds 11.910 {1.9101 18.4451 Tot•1 Fund8 11.110 l.ylo 8.44$ Ygnod w th0trbohlbYTrtl.................. ......................................................................................................... Printed N4mw. l¢>r p fL
FRIENDS INDEED
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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FRIENDS INDEED
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment 25% - Reducing Balance
2. TANGIBLE FIXED ASSETS
The CIO held no fixed assets during this or the previous financial period.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 5th April 2024 : None
5th April 2023 : None
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FRIENDS INDEED
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gifts & Donations d) Other Incoming Resources Insurance Income |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 74,461 - 74,461 40,149 74,461 - 74,461 40,149 - - - 2,796 - - - 2,796 |
|---|---|
4. RESOURCES EXPENDED
| Note a) Cost of Charitable Activities Advertising & Publicity Dog Food & Accessories Dog Rescue & Rehoming Costs Dog Transport & Customs Costs Insurance Costs Shelter Costs Sundry Expenses Veterinary Fees ` b) Governance Costs Independent Examiners Fees 9 |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2023/24 2022/23 £ £ £ £ 2,651 - 2,651 842 4,805 - 4,805 7,676 23,408 - 23,408 15,498 24,095 - 24,095 12,062 1,122 - 1,122 932 3,737 - 3,737 1,910 - - - 1,185 7,149 - 7,149 8,040 66,967 - 66,967 48,146 960 - 960 960 960 - 960 960 |
|---|---|
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FRIENDS INDEED
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024
5. RESTRICTED FUNDS
The CIO held no restricted during this or the previous financial period.
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand 8. DEBTORS AND PREPAYMENTS Sundry Debtors |
Unrestricted Restricted TOTAL TOTAL Fund Fund 05-Apr-24 05-Apr-23 £ £ £ £ 753 - 753 92 753 - 753 92 Unrestricted Restricted TOTAL TOTAL Fund Fund 05-Apr-24 05-Apr-23 £ £ £ £ - - - - - - - - |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Members Loans Independent Examiners Fees |
Unrestricted Restricted TOTAL TOTAL Fund Fund 05-Apr-24 05-Apr-23 £ £ £ £ 744 - 744 7,577 1,920 - 1,920 960 2,664 - 2,664 8,537 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
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FRIENDS INDEED
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 5TH APRIL 2024
11. STAFF COSTS AND NUMBERS
The CIO employed no members of staff during this or the previous financial period.
12. TRUSTEES AND OTHER RELATED PARTIES
During the financial period Trustee Adrian Tataru made an interest free loan of £29,009 (2022/23: £12,785) to Friends Indeed to assist with supporting the short term cashflow requirements in furtherance of the Charitable objects.
During the financial period the Charity repaid loans to Trustee Adrian Tataru which totalling £35,842 (2022/23:£9,952) and the outstanding loan liability repayable stands at £744 (2022/23:£7,577) as at 5th April 2024.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
13. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
14. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
15. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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FRIENDS INDEED
(Charitable Incorporated Organisation)
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
Report to the trustees/ members of Friends Indeed on the accounts for the year ended 5th April 2024 set out on pages 5 to 11.
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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility:
-
to examine the accounts under section 145 of the Charities Act,
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with 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 the 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:
-
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 Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be
K. Collaku MAAT Castle View Accounting Ltd Ground Floor Offices 53 High Street Arundel West Sussex BN18 9AJ
Date: 18th April 2025
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