CHARITY REGISTRATION NUMBER 1192756
UPSIGN NETWORK
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 DECEMBER 2020 TO 30 JUNE 2021
ACCOUNTAXZONE LIMITED
Chartered Certified Accountants & Business Advisors 20-22 Wenlock Road, London, England, N1 7GU
UPSIGN NETWORK
TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD FROM 11 DECEMBER 2020 TO 30 JUNE 2021
| CONTENTS | PAGE |
|---|---|
| Reference and administrative details | 1 |
| Trustees’ Annual Report | 2-3 |
| Statement of Financial Activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-7 |
UPSIGN NETWORK REFERENCE AND ADMINISTRATIVE DETAILS PERIOD ENDED 30 JUNE 2021
The trustees present their report and the financial statements of the charity for the period ended 30 June 2021.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name UPSIGN NETWORK Charity registration number 1192756 Principal office 10 Penrith way Aylesbury HP21 7JZ Trustees Dr Jawwad Arshad Darr PhD Dr Khalid Mahmood Ms Nosheen Ramzan Bankers National Westminster Bank Plc Chatham Customer Service Centre, Waterside Court Chatham Maritime ME4 4RT
- 1 -
UPSIGN NETWORK TRUSTEES ANNUAL REPORT PERIOD ENDED 30 JUNE 2021
The report of the trustees for the period ended 30 June 2021
Introduction
The trustees present their annual report and accounts for the period ended 30 June 2021.
There have been no expenditures and no income during the period.
Name, registered office and constitution of the charity
The full name of the charity is UPSIGN NETWORK .
The legal registration details are: -
Date of formation 11 December 2020 The Registered Office is 10 Penrith way, Aylesbury, HP21 7JZ Charity Registration Number 1192756 The telephone number is 07508672210
OBJECTIVES AND ACTIVITIES
The contribution of volunteers
The charity has drawn upon the pool of volunteers without whom the level of work that we undertake would be significantly less.
Summary of main activities of the charity in relation to its objects
Upsign Network was constituted under the governing document dated 11 December 2020. The objective of Upsign Network is to advance the education of the public in the subjects of science, technology, the humanities and such other academic disciplines as the trustees in their discretion think fit, including but not exclusively, by fostering networking and collaboration between universities and other institutions in the UK and Pakistan and by organising events, workshops and seminars.
The charity operates on a non-profitable basis.
Risk management
The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
FINANCIAL REVIEW
There was no expenditure incurred or income generated during the period ending 30 June 2021.
- 2 -
UPSIGN NETWORK TRUSTEES ANNUAL REPORT (continued) PERIOD ENDED 30 JUNE 2021
RESPONSIBILITIES OF THE TRUSTEES
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed by order of the trustees
...................................
Dr Khalid Mahmood Trustee
...................................
Date 19 July 2022
- 3 -
UPSIGN NETWORK STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD FROM 11 DECEMBER 2020 TO 30 JUNE 2021
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Notes | ||||
| INCOMING RESOURCES | ||||
| Incoming resources from | ||||
| generating funds: | ||||
| Voluntary income | 2 | 0 | 0 | 0 |
| Interest income | 3 | 0 | 0 | 0 |
| -------------------------- | ------------------------------------ | ------------------------------------ | ||
| TOTAL INCOMING | ||||
| RESOURCES | 0 | 0 | 0 | |
| -------------------------- | ------------------------------------ | ------------------------------------ | ||
| RESOURCES EXPENDED | ||||
| Charitable activities | 4 | 0 | 0 | 0 |
| Support cost of charitable | 5 | |||
| activities | 0 | 0 | 0 | |
| General administrative | 5 | |||
| expenses | 0 | 0 | 0 | |
| --------------- | ------------------------------------ | ------------------------------------ | ||
| TOTAL RESOURCES | ||||
| EXPENDED | 0 | 0 | 0 | |
| --------------- | ------------------------------------ | ------------------------------------ | ||
| NET INCOMING/ | ||||
| OUTGOING | ||||
| RESOURCES FOR THE | ||||
| PERIOD | 0 | 0 | 0 | |
| RECONCILIATION OF | ||||
| FUNDS | ||||
| Total funds brought forward | 0 | 0 | 0 | |
| ------------------------------- | ------------------------------- | ------------------------------- | ||
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 0 | 0 | 0 | |
| =============================== | =============================== | =============================== |
The Statement of Financial Activities includes all gains and losses in the period and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
- 4 -
UPSIGN NETWORK BALANCE SHEET AS AT 30 JUNE 2021
| 2021 | |
|---|---|
| £ | |
| CURRENT ASSETS | |
Cash at bank and in hand |
0 |
| ------------------------------- | |
| 0 | |
| CREDITORS: Amounts falling due within one | |
| year |
0 |
| ------------------------------- | |
| NET CURRENT ASSETS | 0 |
| ------------------------------- | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 0 |
| ------------------------------- | |
| NET ASSETS | 0 |
| =============================== | |
| FUNDS | |
| Unrestricted income funds | 0 |
| ------------------------------- | |
| TOTAL FUNDS | 0 |
| =============================== |
These financial statements were approved by the member of the committee on the 19 July 2022 and are signed on their behalf by:
Dr Khalid Mahmood Trustee
The notes on pages 6 to 7 form part of these financial statements.
- 5 -
UPSIGN NETWORK NOTES TO THE FINANCIAL STATEMENTS FROM 11 DECEMBER 2020 TO 30 JUNE 2021
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005) and the Charities Act 2011.
2. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
| Unrestricted | Total | |
|---|---|---|
| Funds | 2021 | |
| £ | £ | |
| Voluntary income | 0 | 0 |
| Gift Aid | 0 | 0 |
| ------------------------------------ | ------------------------------------ | |
| Total | 0 | 0 |
| ========================== | ==================================== |
3. INVESTMENT INCOME
| 3. INVESTMENT INCOME |
||
|---|---|---|
| Unrestricted | Total | |
| Funds | 2021 | |
| £ | £ | |
| Bank deposit interest received | 0 | 0 |
| ========================== | ========================== |
RESOURCES EXPENDED
4. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | ||
|---|---|---|---|
| Funds | 2021 | ||
| £ | £ | ||
| Direct charitable costs | 0 | 0 | |
| Other | 0 | 0 | |
| ------------------------------------ | ------------------------------------ | ||
| Direct charitable costs | 0 | 0 | |
| ==================================== | ==================================== | ||
| 5. | GOVERNANCE COSTS | ||
| Unrestricted | Total Funds | ||
| Funds | 2021 | ||
| £ | £ | ||
| Support cost of charitable activities | |||
| Printing and publications | 0 | 0 | |
| Travel | 0 | 0 | |
| - |
- 6 -
UPSIGN NETWORK NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM 11 DECEMBER 2020 TO 30 JUNE 2021
| General administrative expenses | ||
|---|---|---|
| Other administrative expenses | 0 | 0 |
| ------------------------------------ | ------------------------------------ | |
| 0 | 0 | |
| ------------------------------------ | ------------------------------------ | |
| Total governance costs | 0 | 0 |
| ====================================== | ====================================== |
6. STAFF COSTS AND EMOLUMENTS
No employees were hired during the period and no payments were made in this respect during the period. The trustees worked voluntarily and did not receive any remuneration for their services.
7. CREDITORS: Amounts falling due within one year
| 2021 | |
|---|---|
| £ | |
| Accruals | 0 |
| =============== |
- 7 -