COMPANY REGISTRATION NUMBER: 11927048 CHARITY REGISTRATION NUMBER: 1191531
The United Goal Ltd Company Limited by Guarantee Unaudited Financial Statements 31 October 2021
BRINDLEY GOLDSTEIN LIMITED
Chartered accountants 103 High Street Waltham Cross Herts EN8 7AN
The United Goal Ltd
Company Limited by Guarantee
Financial Statements
Period from 1 May 2020 to 31 October 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Statement of cash flows | 7 |
| Notes to the financial statements | 8 |
The United Goal Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Period from 1 May 2020 to 31 October 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 31 October 2021.
Reference and administrative details
Registered charity name The United Goal Ltd Charity registration number 1191531 Company registration number 11927048 Principal office and registered 67 Forburg Road office London N16 6HR England
The trustees
Mr.H. Barminka Mr.N. Kahan (Appointed 20 July 2020) Mr.B. Schwartz (Appointed 20 July 2020) Independent examiner Charles Goldstein FCA 103 High Street Waltham Cross Herts EN8 7AN
Structure, governance and management
The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 04 September 2020.
Recruitment and appointment of new trustees
The power to appoint new trustees is vested in the current board. New trustees are appointed based on personal competence, specialist skills and experience. They are inducted into the working of the charity by the current board and are encouraged to read the Charity Commission's various publications on trustees.
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The United Goal Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period from 1 May 2020 to 31 October 2021
Objectives and activities
The company is established for charitable purposes, its objectives being advancing education and the relief of poverty and sickness and the preservation of health by the provision of grants, items, emergency assistance and services to individuals in need and/or charities, or other organizations.
Public benefit
The directors (trustees) confirm their compliance with the duty to have due regards to the public benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
During the year the charity took on 9 part time employees and 28 volunteers.
As part of their duties, the Trustees are constantly reviewing the level of services provided, and are prepared to introduce any improvements deemed necessary.
The trustees have continued to engage with leading experts in Charity law, Health and Safety, and continue to use the services of expert educational consultants.
In order to meets its objective to provide relief for poverty, the charity spent £40,543.36 on food and clothing and £45,118.30 on other charitable activities & services.
The trustees wish to pay tribute to the loyal and hardworking staff and volunteers who have contributed to the charity during the year.
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The United Goal Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period from 1 May 2020 to 31 October 2021
Financial review
Income from gifts and donations amounted to £134,635.27. In addition income from campaigns totalled to £42,000.
Reserves policy
The trustees ensure that the charity has sufficient reserves and pledges to cover minimum commitments over at least the next three months.
Fundraising activities
A number of fundraising events and activities took place during the year. This resulted in satisfactory level of donations being received.
Financial results
The trustees are determined to keep within budget and continue to examine ways to increase income as well as savings in costs.
The trustees' annual report and the strategic report were approved on 18 January 2022 and signed on behalf of the board of trustees by:
Mr.H. Barminka Trustee
Charity Secretary
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The United Goal Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The United Goal Ltd
Period from 1 May 2020 to 31 October 2021
I report to the trustees on my examination of the financial statements of The United Goal Ltd ('the charity') for the period ended 31 October 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the charity’s accounts as 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 examiner's 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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting 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 financial statements 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 in order to enable a proper understanding of the accounts to be reached.
Charles Goldstein FCA Independent Examiner 103 High Street Waltham Cross Herts EN8 7AN
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The United Goal Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Period from 1 May 2020 to 31 October 2021
| Period from 1 May 20 to | Period from 1 May 20 to | ||
|---|---|---|---|
| 31 Oct 21 | |||
| Unrestricted | |||
| fundsTotal funds | |||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 5 | 176,635 | 176,635 |
| Investment income | 6 | 2 | 2 |
| Other income | 7 | 4,428 | 4,428 |
| -------------------------------- | -------------------------------- | ||
| Total income | 181,065 | 181,065 | |
| ================================ | ================================ | ||
| Expenditure | |||
| Expenditure on charitable activities | 8,9 | 150,642 | 150,642 |
| -------------------------------- | -------------------------------- | ||
| Total expenditure | 150,642 | 150,642 | |
| ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 30,423 | 30,423 | |
| ================================ | ================================ | ||
| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
| -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 30,423 | 30,423 | |
| ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 12 form part of these financial statements.
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The United Goal Ltd
Company Limited by Guarantee
Statement of Financial Position
31 October 2021
| 31 October 2021 | |||
|---|---|---|---|
| 31 Oct 21 | |||
| Note | £ | £ | |
| Current assets | |||
| Debtors | 14 | 39,342 | |
| Cash at bank and in hand | 42,677 | ||
| ---------------------------- | |||
| 82,019 | |||
| Creditors: amounts falling due within one year | 15 | 1,596 | |
| ---------------------------- | |||
| Net current assets | 80,423 | ||
| ---------------------------- | |||
| Total assets less current liabilities | 80,423 | ||
| Creditors: amounts falling due after more than one year | 16 | 50,000 | |
| ---------------------------- | |||
| Net assets | 30,423 | ||
| ============================ | |||
| Funds of the charity | |||
| Unrestricted funds | 30,423 | ||
| ---------------------------- | |||
| Total charity funds | 17 | 30,423 | |
| ============================ |
For the period ending 31 October 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 18 Jan 22, and are signed on behalf of the board by:
Mr.H. Barminka Trustee
The notes on pages 8 to 12 form part of these financial statements.
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The United Goal Ltd
Company Limited by Guarantee
Statement of Cash Flows
Period from 1 May 2020 to 31 October 2021
| 31 Oct 21 | |
|---|---|
| £ | |
| Cash flows from operating activities | |
| Net income | 30,423 |
| Adjustments for: | |
| Other interest receivable and similar income | (2) |
| Interest payable and similar charges | 259 |
| Accrued expenses | 1,440 |
| Changes in: | |
| Trade and other debtors | (39,342) |
| Trade and other creditors | 156 |
| ---------------------------- | |
| Cash generated from operations | (7,066) |
| Interest paid | (259) |
| Interest received | 2 |
| ----------------------- | |
| Net cash used in operating activities | (7,323) |
| ======================= | |
| Cash flows from financing activities | |
| Proceeds from borrowings | 50,000 |
| ---------------------------- | |
| Net cash from financing activities | 50,000 |
| ============================ | |
| Net increase in cash and cash equivalents | 42,677 |
| Cash and cash equivalents at beginning of period | – |
| ---------------------------- | |
| Cash and cash equivalents at end of period | 42,677 |
| ============================ |
The notes on pages 8 to 12 form part of these financial statements.
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The United Goal Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Period from 1 May 2020 to 31 October 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 67 Forburg Road, London, N16 6HR, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Taxation
The charity is exempt from corporation tax on its charitable activities
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 Nov 19. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 21.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In the process of applying the entity's accounting policies no significant judgements or key sources of estimation were made by management that have any significant effect on the amounts recognised in the financial statements.
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The United Goal Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 May 2020 to 31 October 2021
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
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.
Resources expended
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.
Allocation and apportionment of costs
Costs are allocated and apportioned to the various categories of expenditure on the following basis:
(i) costs that relate solely to one activity are allocated to that activity.
(ii) costs that relate to more than one activity are split between the activities, based on the estimated usage attributable to each activity. In the case of staff costs the allocation is basaed on estimated staff time attributed to each activity.
(iii) costs that are common to all activities are categorised as support costs.
4. Limited by guarantee
The United Goal Ltd is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.
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The United Goal Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 May 2020 to 31 October 2021
5. Donations and legacies
| Unrestricted | Total Funds | |||
|---|---|---|---|---|
| Funds | 2021 | |||
| £ | £ | |||
| Donations | ||||
| Gifts and Donations Income | 134,635 | 134,635 | ||
| Campaign Income | 42,000 | 42,000 | ||
| -------------------------------- | -------------------------------- | |||
| 176,635 | 176,635 | |||
| ================================ | ================================ | |||
| 6. | Investment income | |||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Bank interest receivable | 2 | 2 | ||
| ============== | ============== | |||
| 7. | Other income | |||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| HMRC Grants | 4,428 | 4,428 | ||
| ======================= | ======================= | |||
| 8. | Expenditure on charitable activities by fund type | |||
| Unrestricted | Total Funds | |||
| Funds | 2021 | |||
| £ | £ | |||
| Food and Clothing | 40,543 | 40,543 | ||
| Other charitable activities & services | 45,118 | 45,118 | ||
| Support costs | 64,981 | 64,981 | ||
| -------------------------------- | -------------------------------- | |||
| 150,642 | 150,642 | |||
| ================================ | ================================ | |||
| 9. | Expenditure on charitable activities by activity type | |||
| Activities | ||||
| undertaken | Support | Total funds | ||
| directly | costs | 2021 | ||
| £ | £ | £ | ||
| Food and Clothing | 40,543 | – | 40,543 | |
| Other charitable activities & services | 45,118 | 59,270 | 104,388 | |
| Governance costs | – | 5,711 | 5,711 | |
| ---------------------------- | ---------------------------- | -------------------------------- | ||
| 85,661 | 64,981 | 150,642 | ||
| ============================ | ============================ | ================================ |
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The United Goal Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 May 2020 to 31 October 2021
10. Analysis of support costs
| Analysis of | Analysis of | |||||
|---|---|---|---|---|---|---|
| support costs | ||||||
| activity 1 | Total 2021 | |||||
| £ | £ | |||||
| Staff costs | 59,270 | 59,270 | ||||
| ============================ | ============================ | |||||
| 11. | Independent examination fees | |||||
| Period from | ||||||
| 1 May 20 | to | |||||
| 31 | Oct | 21 | ||||
| £ | ||||||
| Fees payable to the independent examiner for: | ||||||
| Independent examination of the financial statements | 1,440 | |||||
| ======================= | ||||||
| 12. | Staff costs | |||||
| The average head count of employees during the period was 9. The average number of full-time | ||||||
| equivalent employees during the period is analysed as follows: | ||||||
| 31 | Oct | 21 | ||||
| No. | ||||||
| Number of staff | 9 | |||||
| ============== | ||||||
| No employee received employee benefits of more than £60,000 during the year (2020: Nil). | ||||||
| 13. | Trustee remuneration and expenses | |||||
| There were no trustees' remuneration or other benefits for the year ended 31 | March | 2021. | ||||
| There were no trustees' expenses paid for the year ended 31 October 2021. |
14. Debtors
| 31 Oct 21 | ||
|---|---|---|
| £ | ||
| Other debtors | 39,342 | |
| ============================ | ||
| 15. | Creditors: amounts falling due within one year | |
| 31 Oct 21 | ||
| £ | ||
| Accruals and deferred income | 1,440 | |
| Social security and other taxes | 156 | |
| ----------------------- | ||
| 1,596 | ||
| ======================= |
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The United Goal Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 May 2020 to 31 October 2021
16. Creditors: amounts falling due after more than one year
| 31 | Oct 21 | |
|---|---|---|
| £ | ||
| Bank loans and overdrafts | 50,000 | |
| ============================ |
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 October 2 | ||||
| 1 May 2020 | Income | Expenditure | 021 | ||
| £ | £ | £ | £ | ||
| General funds | – | 181,065 | (150,642) | 30,423 |
|
| ============== | ================================ | ================================ | ============================ | ||
| 18. | Analysis of net assets between funds | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| £ | £ | ||||
| Current assets | 82,019 | 82,019 | |||
| Creditors less than 1 year | (1,596) | (1,596) |
|||
| Creditors greater than 1 year | (50,000) | (50,000) |
|||
| ---------------------------- | ---------------------------- | ||||
| Net assets | 30,423 | 30,423 | |||
| ============================ | ============================ | ||||
| 19. | Analysis of changes in net debt | ||||
| At | At | ||||
| 1 May 2020 | Cash flows | 31 Oct 2021 | |||
| £ | £ | £ | |||
| Cash at bank and in hand | – | 42,677 | 42,677 | ||
| Debt due after one year | – | (50,000) | (50,000) |
||
| -------------- | ---------------------------- | ---------------------------- | |||
| – | (7,323) | (7,323) |
|||
| ============== | ============================ | ============================ |
20. Related parties
There were no related party transactions for the year ending 31 October 2021
21. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The charity transitioned to FRS 102 on 1 November 2019.
No transitional adjustments were required in the retained funds or income or expenditure for the period.
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