REGISTERED COMPANY NUMBER: CE022957 (England and Wales) REGISTERED CHARITY NUMBER: 1192681
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022 FOR
BRITISH WEIGHT LIFTING FOUNDATION
Sedulo Accountants Limited Chartered Certified Accountants 62-66 Deansgate Manchester M3 2EN
BRITISH WEIGHT LIFTING FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 to 4 |
| Notes to the Financial Statements | 5 to 6 |
| Detailed Statement of Financial Activities | 7 |
BRITISH WEIGHT LIFTING FOUNDATION
REPORT OF THE TRUSTEES FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 7 December 2020 to 31 March 2022. 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).
INCORPORATION
The charitable company was incorporated on 7 December 2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE022957 (England and Wales)
Registered Charity number
1192681
Registered office
1st Floor Office Suite St Ann's Mill Kirksall Road Leeds West Yorkshire LS5 3AE
Trustees
N C Wood (appointed 7.12.20) M R Martin (appointed 7.12.20) M F Curtain (appointed 1.6.22)
Company Secretary
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... M R Martin - Trustee
Page 1
BRITISH WEIGHT LIFTING FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 131,566 | |
| EXPENDITURE ON | ||
| Raising funds | 250 | |
| Charitable activities | ||
| Charitable projects | 8,500 | |
| Other | 41 | |
| Total | 8,791 | |
| NET INCOME | 122,775 | |
| TOTAL FUNDS CARRIED FORWARD | 122,775 |
The notes form part of these financial statements
Page 2
BRITISH WEIGHT LIFTING FOUNDATION
BALANCE SHEET 31 MARCH 2022
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| CURRENT ASSETS | ||
| Debtors | 3 | 72,569 |
| Cash at bank | 51,706 | |
| 124,275 | ||
| CREDITORS | ||
| Amounts falling due within one year | 4 | (1,500) |
| NET CURRENT ASSETS | 122,775 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 122,775 | |
| NET ASSETS | 122,775 | |
| FUNDS | 5 | |
| Unrestricted funds | 122,775 | |
| TOTAL FUNDS | 122,775 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 3
BRITISH WEIGHT LIFTING FOUNDATION
BALANCE SHEET - continued 31 MARCH 2022
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. N C Wood - Trustee
............................................. M R Martin - Trustee
The notes form part of these financial statements
Page 4
BRITISH WEIGHT LIFTING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £
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.
Taxation
The charity is exempt from corporation 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.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 March 2022.
Page 5
continued...
BRITISH WEIGHT LIFTING FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022
3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
|---|---|
| Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
£ 72,569 |
| £ 1,500 |
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 131,566 131,566 |
Net movement At in funds 31.3.22 £ £ 122,775 122,775 122,775 122,775 Resources Movemen expended in funds £ £ (8,791) 122,775 (8,791) 122,775 |
At 31.3.22 £ 122,775 |
|---|---|---|---|
| 122,775 | |||
| 122,775 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the period ended 31 March 2022.
Page 6
BRITISH WEIGHT LIFTING FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 7 DECEMBER 2020 TO 31 MARCH 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Raising donations and legacies Sundries Charitable activities Charitable project Consultancy Accountancy Support costs Finance Bank charges Total resources expended Net income |
£ 131,566 |
|
|---|---|---|
| 131,566 | ||
250 5,000 2,000 1,500 |
||
| 8,500 | ||
| 41 | ||
| 8,791 | ||
| 122,775 |
This page does not form part of the statutory financial statements
Page 7