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2022-03-31-accounts

TREASURED MOMENTS CHARITY REGISTRATION NUMBER: 1193854

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

TREASURED MOMENTS

INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Pages Charity Information ............................................................................................. 3 Trustees’ Annual Report ..................................................................................... 4 Independent Examiners Report To The Trustees ............................................... 8 Statement Of Financial Activities ......................................................................... 9

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TREASURED MOMENTS

CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2022

The Board of Trustees

Mr Gerald Sinitsky Mrs Rosealine Godlewsky

Mr Ronald Edward Hochhauser

Correspondence Address

2 Riverside Road London N15 6DA

Independent Examiner Finer Accounting Ltd 36 Ravensdale Road London N16 6SH

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TREASURED MOMENTS

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022

The objective of the charity is to advance in life and help young people for the public benefit through:

Treasured moments was set up in response to a dire need for extracurricular and social activities for youth suffering negative impacts from the pandemic. Families with young children sustained massive losses through bereavement, financial losses, and significant increases in emotional wellbeing challenges. Parents / young people turned to us at a time when services were disrupted, stress and anxiety were on the rise in desperation for support and advice.

The charity ‘plunged into the deep end’ and set up a holiday club with the mission to provide high quality, professional, stimulating, and safe holiday activities for disadvantaged children and young people.

Through feedback from users, parents and guardians, a further area of increased concern was highlighted, where youth were unwilling to take part in physical activities for any time frame they felt 'out of their comfort zone'. In response, the club introduced a football and exercise after school club, where youth are encouraged to be physically active, away from their sedentary lifestyles triggered by the pandemic which has become the norm resulting in an increased level of obesity, depression and anxiety which has been noted nationally.

The trustees are extremely grateful to all our volunteers for the support and time they invested and provided the charity with, allowing us to provide a fun filled programme through school holiday periods as well as introduce our sport programme despite the difficult financial environment. We would also like to extend our appreciation to our funders and supporters for ‘being with us along the way’ enabling us to support 135 disadvantaged children and young people.

References and Administrative Details of the Charity, Its Trustees and Advisers

Legal and administrative information of the charity is shown on the page 3 of the Financial Statements and forms part of this report.

The Trustees

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The Trust Deed requires that the number of trustees shall not be less than three. The power to appoint new trustees is vested in the existing trustees. New trustees are recruited on the basis of their competence, specialist skills, and those who are able to promote the objectives of the Charity. New trustees are appointed by a resolution of the Trustees, which is recorded in the minutes and signed by the new trustee. New trustees are inducted into the workings of the Charity by the current Trustees.

None of the Trustees have any beneficial interest in the Charity.

Structure, Governance and Management

Treasured Moments is a Registered Charity (No. 1193854) and is constituted and governed by its Trust Deed dated November 2019.

The Charity’s objectives, powers and other constitutional matters are set out in its Articles and Memorandum of Association and provide for the charitable purposes.

The Charity is governed by a board which is responsible for setting the strategic direction of the organisation and for establishing policy. The trustees meet monthly (including an AGM), and the committee’s composition is such as to ensure an appropriate balance of experience relevant to the operations of the charity, and to discuss progress of the aims of the charity, financial matters, approving proposals and discussing forward strategy.

The financial results of the Charity’s activities for the year ended 31st March 2022 are fully reflected in the attached Financial Statements together with the Notes thereon.

Review Of Activities, Performance & Achievements

Sport Programme:

In line with government guidance, the charity provided an after-school club, where football and exercise sessions took place weekly. This allowed us to get youth involved in physical activity, develop healthy lifestyles, and promote overall wellbeing at a time when they needed it most.

Holiday Programme:

Holiday schemes were provided through the summer and winter school holidays where youth took part in recreational activities, life skills workshops and creative arts. A wide range of workshops / activities as well as trips were provided with users taking part in the planning and delivery of the programmes.

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These provided opportunities to try something new, grow in confidence and selfesteem. Mixing, and learning how to work as a team with children from different schools, areas and backgrounds encouraged opportunities to make new friends. As a result, happier, more confident youth with new skills and more of a ‘can do’ attitude returned to school after the holidays.

Staff

Treasured Moments did not employ any fulltime staff. Additionally, 12 temporary workers were employed during the weeks of the holiday playschemes.

No employee received emoluments of more than £60,000 during the year.

No trustees received any remuneration during the year. The Charity did not meet any individual expenses incurred by the trustees for services provided to the charity.

The General Manager reports directly to the Board of Trustees and is responsible for all staff and volunteers in all departments Fundraising, Finance and Operations.

Future appointments to the fundraising and operations team will be agreed in line with the Fundraising Strategy to ensure that the necessary personnel and expertise are in place to achieve the significant growth in income required. Planned professional development is an essential element in ensuring the charity's personnel resources build in experience and expertise.

Reserves and Investment Policy

The Trustees aim to hold free reserves at a level of at least 3 months running costs and up to 6 months running costs. This is to protect the Charity in the event that income for a project is lower than anticipated and to act as a cushion to protect services in the event of a time limited grant ending before having secured funding from a new source. The trustees predict that in the upcoming financial year the organization will have built the level of reserves to at least 3 months running costs in view of the current harsh public sector funding climate.

Risk assessment

The Charity annually identifies and reviews the major risks to which it is exposed. The main potential risks relate to the protection and safety of the vulnerable children in the Charity's care and financial risk to the Charity's Funds. The Charity is satisfied that these risks are robustly managed, through its policies, systems and procedures for Child Protection, Health & Safety and Financial Management and Controls. Our GDPR regulations have been updated and is now fully compliant.

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TREASURED MOMENTS

Statement Of Trustees Responsibility

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:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which 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.

Financial Review

The amount of funds raised for charitable purposes during the year was £28,972. The Management Committee consider that the Charity's results for the year to be very satisfactory.

To conclude, the Trustees of Treasured Moments remain totally committed to providing life changing experiences to disadvantaged children within a safe and professionally managed environment.

APPROVAL

This report was approved by the trustees on and signed by:

Gerald Sinitsky

Trustee By Order of the Board

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INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

I report the trustees on my examination of the financial statements of Treasured Moments ('the charity') for the year ended 31 March 2022 set out on page 9.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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.

Uri Feiner FMAAT Independent Examiner Finer Accounting Ltd 36 Ravensdale Road London N16 6SH Date: 14 November 2022

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TREASURED MOMENTS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Section A Income and Expenditure

Restricted
Funds
Unrestricted
Funds
Income
14,664
14,308
Expenditure
Youth Club Activities
Support
Costs
Governance Costs
Publicity
Total Expenditure
Cash funds this year
end*		 Restricted
Funds
12,889
1,775		 Unrestricted
Funds
5,604
1,185
1,773
30
(14,664) (8,592)
5,716

Section B Statement of assets and liabilities at the end of the period

Cash Funds 5,716

These financial statements were approved by the members of the committee on the and are signed on their behalf by:

Gerald Sinitsky Trustee By Order of the Board

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