# **TREASURED MOMENTS CHARITY REGISTRATION NUMBER: 1193854** # **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** TREASURED MOMENTS ## **INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** Pages Charity Information ............................................................................................. 3 Trustees’ Annual Report ..................................................................................... 4 Independent Examiners Report To The Trustees ............................................... 9 Statement Of Financial Activities ....................................................................... 10 2 TREASURED MOMENTS # **CHARITY INFORMATION FOR THE YEAR ENDED 31 MARCH 2023** ## **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 3 TREASURED MOMENTS ## **TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023** Treasured moments focus on changing the lives of young people. With a commitment to empowering and inspiring young people to unlock their true potential through our sport themed, creative, physical, recreational activities we were able to bring about physical and mental health outcomes. We were able to offer unconditional support, and provide tangible opportunities to allow positive change in young people’s lives through constructive, educational and stimulating social health and sports programs. The past year, has been an exciting one with new activities and services available for children and young people. We are enormously grateful to our supporters including Sport England, Tallulah Harris trust, Awards for All, Delapage, amongst other donors and sponsors for enabling us to reach out to those in need. With an emphasis on Every child matters, the charity ensured that all work carried out provided the necessary support which children and young people need to: - **Be healthy** - Improved mental, physical and emotional health for children through play experiences. Particular activities promoting healthy eating, personal welfare, self-esteem and physical movement in and outside of the setting. - **Stay Safe** - A secure, supportive group developing children's own support mechanisms and an environment free from hazards. Play-based educational activities promoting safety and well-being and help to develop confident children. - **Enjoy and Achieve** - a Fun atmosphere with friends and wide opportunities for success. Taking on appropriate challenges and responsibilities and helping others to do the same. - **Make a Positive Contribution** - Being involved in designing the activities, and overall running of the club. - **Achieve Economic Wellbeing** - Encouraging positive attitudes to self and helping parents and other adults develop employable skills. Positive models of working life and developing a 'can do' attitude; problem solving and social skills. As an organisation we will continue to strive to find ways to meet the holistic needs of the young people and society as a whole. We will support children and young people on their journeys toward secure futures, healthy lives and strong academic achievement. 4 TREASURED MOMENTS ## **Meeting the need** It is not always possible for children’s social, physical and creative needs to be met fully by their parents and / or carers for numerous reasons despite it being highly essential to their wellbeing. Thus, the need for local, quality, flexible and affordable play activities continued to be identified and the charity did their utmost to attempt and address this issue and increased level of demand by providing holiday activities, after school sport clubs and a library catering to the diverse needs and interests of the young people we support. ## **Review Of Activities, Performance & Achievements** Holiday programme: Children are never too young for learning opportunities. Our holiday schemes provided full, action packed days of fun to children and young people aged 4 – 14 during all school holidays where we encouraged social skills, creative expression, outdoor adventures, educational workshops, recreational games, sport plus lots more. Workshops incorporated opportunities for learning and personal development, such as teamwork, leadership, communication and creative thinking. Educational elements were integrated into programmes to promote knowledge acquisition and to provide exposure to new ideas and concepts ## Sport clubs: With increasing concern of emotional ill health amongst teens as well as sedentary lifestyles and the prevalence of childhood obesity – our after-school sports club allowed young people to engage in regular physical activity, promoting overall health and fitness and providing an opportunity for young people to take part in enjoyable and structured sport sessions developing life skills and building ending relationships with teammates, coaches and volunteers. ## Library: We were able to expand our ‘quiet haven’ library, with many more books – young people are now able to come after school, weekends and during school holidays to chill and relax , enjoying a book at their leisure. ## **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. 5 TREASURED MOMENTS ## **The Trustees** 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 2023 are fully reflected in the attached Financial Statements together with the Notes thereon. ## **Staff** Treasured Moments did not employ any fulltime staff. Additionally, 35 sessional staff as well as sport instructors 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. 6 TREASURED MOMENTS 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. ## **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: - 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. 7 TREASURED MOMENTS - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 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 £40,467. 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 8 TREASURED MOMENTS ## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** I report the trustees on my examination of the financial statements of Treasured Moments ('the charity') for the year ended 31 March 2023 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: 23 January 2024 9 TREASURED MOMENTS ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** ## **Section A Income and Expenditure** |**Restricted**
**Funds**
**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Unrestricted**
**Funds**|**Last Year**| |---|---|---|---| |**Income**
29,460
11,707|||28,972| ||||| ||||| |**Expenditure**|||| |**Youth Club Activities**|22,090|4,873|18,493| |**Support Costs**|2,413|275|2,960| |**Governance Costs**||700|1,773| |**Publicity &**
**Premises**|4,872|500|30| |**Total Expenditure**|(29,374)|(6,348)|(23,256)| ||||| |Cash fundslastyearend||5,716|| |**Cash funds this year end**||**11,162**|**5,716**| ## **Section B Statement of assets and liabilities at the end of the period** ## **Cash Funds** **11,162** 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 10