BE RAW
(a charitable company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
Company Number 13438320 Charity Number 1195582
BE RAW
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE PERIOD ENDED 31 DECEMBER 2021
| Trustees | G Nicoll |
|---|---|
| K A Ridge | |
| O G Ridge | |
| R A Watts | |
| Registered Office | 13 Brangwyn Avenue |
| Brighton | |
| BN1 8XH | |
| Company number: | 13438320 |
| Charity number: | 1195582 |
| Accountants | Haysmacintyre LLP |
| 10 Queen Street Place | |
| London EC4R 1AG | |
| Bankers | Barclays Bank plc |
| Leicester | |
| Leicestershire | |
| LE87 2BB |
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BE RAW
TRUSTEES’ REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2021
The trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report and the financial statements of Be Raw for the period ended 31 December 2021. The trustees confirm that the annual report and financial statements of Be Raw comply with current statutory requirements, the governance requirements of Be Raw and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Objectives and activities
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The purposes of the charity as set out in its governing document are as follows:
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To aid those in need because of the effects of ill health, disability, financial hardship or other disadvantage.
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To promote the conservation, protection and improvement of the physical and natural environment.
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To support and promote participation in healthy recreation.
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The main activities undertaken in relation to those purposes for the public benefit.
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Setting up the charity
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Appointing Trustees
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Formulating the key principles stated in the objectives and activities.
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Creating the charities web site to act as both a marketing tool for future donors and a platform for grant applications.
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Identifying possible donors
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During the financial year no grants were made. In order for grants to be accept this purpose of the grant must be aligned to our key principles making policies.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
Achievements and performance
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As the charity has only been registered since August, there charity still in the earlier stages and the main achievements of the charity have been mainly administrative which have been indicated below:
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Registering with the Charity Commission.
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Appointing trustees. The trustee appointment process is still being formalised.
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Opening a bank account and ensuring all initial funds were in place.
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Working with an external team to create the website and ensure marketing materials were in place.
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Inaugural Trustees meeting.
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BE RAW
TRUSTEES’ REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2021
Achievements and performance ( continued)
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During the financial year the charity did not have any beneficiaries.
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The Charity was set up as a corporate foundation, with trustees taking on all fundraising efforts. The Charity is not registered with the Fundraising Regulator. During the financial year no fundraising took place.
Financial review
Overview of the year
The Charity was registered on 20 August 2021 and this is the first set of financial statements. The Charity received total income of £65,964 in the year, with expenditure of £14,488 resulting in a net movement in funds of £51,476. The Charity did not make any grant payments in the year, and total expenditure relates to initial costs to set up the Charity.
Our funds
At 31 December 2021 funds totalled £51,476 which were entirely unrestricted. The free reserve for general purposes is £51,476. It is the policy of the trustees to retain sufficient unrestricted funds which, in their judgement, will mitigate the short-term effect of income volatility and retain funds to generate sufficient income to meet current and future operational activities of the charity. Formal policy will be agreed by the trustees in due course.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Structure, governance and management
Constitution
The organisation is a charitable company limited by guarantee, incorporated on 4 June 2021, and registered as a charity. The company was established under a Memorandum of Association dated 4 June 2021, which defined the objects and powers of the charitable company. It is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Method of appointment or election of Trustees
Due to the charity being in its early stages since registration, there are only three Trustees. Going forward, the appointment process will be a robust process principally defined by the business, knowledge, and development needs of the organisation. Where skills gaps occur, advertisements are targeted to ensure these are filled and the balance skills, knowledge and expertise is maintained. Shortlisting and assessment conducted principally through trustees.
Policies adopted for the induction and training of Trustees
The Board of Trustees ensures that the composition and the breadth of experience of its members are sufficient for it to discharge its responsibilities. The charity has a trustee induction and training policy. During the year the Trustees have been encouraged to keep up to date with wider sector knowledge and relevant Charity Commission guidance, such as the Charity Commission 5-minute guides, have been circulated. The Trustees have also been encouraged to attend the NCVO Trustee Training series.
In accordance with the company's Articles of Association, the company has a Board of Trustees. The members of the Board are the company's directors for the purposes of company law and are the trustees of
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BE RAW
TRUSTEES’ REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2021
Pay policy for senior staff
There are no employees of the charity.
Organisational structure and decision-making
the charity for the purposes of charity law. The Board of Trustees is responsible for the overall management and control of the charity. The Board of Trustees meets a minimum of 4 times a year.
Relationship with related parties
The charity considers Rebecca Abigail PR Limited to be a related party, during the financial year the company has provided the initial funding.
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BE RAW
TRUSTEES’ REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2021
Statement of Trustees’ Responsibilities
The trustees (who are also directors of Be Raw for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
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Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements and
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enables them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
So far as each of the trustees is aware at the time the report is approved:
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there is no relevant audit information of which the charitable company's auditors are unaware and
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● the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
Approved by order of the members of the board of Trustees on 1 November 2022 and signed on their behalf by:
R A Watts Trustee
Date: 1 November 2022
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BE RAW
STATEMENT OF FINANCIAL ACTIVITIES (Incorporating income and expenditure account)
FOR THE PERIOD ENDED 31 DECEMBER 2021
| Note | Total | |
|---|---|---|
| 2021 | ||
| £ | ||
| Income from: | ||
| Donations and legacies | 2 | 65,964 |
| Interest | - | |
| ----------------- | ||
| Total income | 65,964 | |
| ----------------- | ||
| Expenditure on: | ||
| Charitable activities | - | |
| Other expenditure | 4 | 14,488 |
| ---------------- | ||
| Total expenditure | 14,488 | |
| ----------------- | ||
| ----------------- | ||
| Net movement in funds | 51,476 | |
| Reconciliation of funds: | ========== | |
| Reconciliation of funds: | ||
| Total funds brought forward | ||
| 51,476 | ||
| Net movement in funds | ||
| ----------------- | ||
| Total funds carried forward | 51,476 | |
| ========== |
All of the Charity’s funds in the current year were unrestricted.
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes set out on pages 9 to 12 form an integral part of these financial statements.
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BE RAW
BALANCE SHEET
FOR THE PERIOD ENDED 31 DECEMBER 2021 Company number: 13438320
| 2021 | |||
|---|---|---|---|
| Note | £ | ||
| Current assets | |||
| Cash at bank and in hand | 55,836 | ||
| --------------- | |||
| 55,836 | |||
| Creditors: amounts falling due | |||
| within one year | 8 | (4,360) | |
| --------------- | |||
| Net current assets | 51,476 | ||
| --------------- | |||
| Total assets less current | 51,476 | ||
| liabilities | |||
| --------------- | |||
| Total net assets | 51,476 | ||
| ======== | |||
| Charity funds | |||
| Unrestricted funds | 9 | 51,476 | |
| --------------- | |||
| Total funds | 51,476 | ||
| ======== |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of the financial statements.
These financial statements were approved and authorised for issue by the Trustees on 1 November 2022 and signed on its behalf by:
R A Watts Trustee
The notes set out on pages 9 to 12 form an integral part of these financial statements.
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BE RAW
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2021
| Note | 2021 | |
|---|---|---|
| £ | ||
| Cash flows from operating activities | ||
| Net cash used in operating activities | 14 | 55,836 |
| ------------------ | ||
| Change in cash and cash equivalents in the reporting | ||
| period | 55,836 | |
| ------------------ | ||
| Cash and cash equivalents at the end of the | ||
| period | 55,836 | |
| ========== |
The notes set out on pages 9 to 12 form an integral part of these financial statements.
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BE RAW
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2021
1. General information
Be Raw, the 'Charity' is a company limited by guarantee, charity number 1195582 and company number 13438329 registered in England and Wales. Its registered office is 13 Brangwyn Avenue, Brighton, B1 8XH.
2. ACCOUNTING POLICIES
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance of with the Charities SORP (FRS 102) – Accounting and Reporting by Charities: Statement of Recommended Practise 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Be Raw meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going Concern
After making appropriate enquiries, the Trustees have a responsible expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
2.3 Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for the other purposes.
2.4 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.5 Expenditure
Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company’s objectives, as well as any associated support costs.
Grants payable are charged in the period when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
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BE RAW
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
2 Accounting policies (continued)
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle that obligation can be measured or estimated reliably. Creditors and provisions are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished.
2.9 Critical accounting judgements or estimation
The trustees do not consider there to be any significant judgements or sources of estimation uncertainty in relation to the preparation of the financial statements.
2.10 Foreign currency translation
Functional and presentation currency
The Foundations’ functional and presentational currency is GBP
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency and monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translates using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
2.11 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
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BE RAW
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
3. Income from donations and legacies
| Total | |
|---|---|
| Funds | |
| 2021 | |
| £ | |
| Donations | 65,964 |
| -------------- | |
| 65,965 | |
| ======== |
4. Analysis of Grants
During the year the Foundation made no grants in excess of £75,000.
5. Other expenditure
Total Funds 2021 £ Audit and accountancy fees 4,360 Legal and professional fees 9,964 IT Software and consumables 164 ---------------14,488 =========
6. Staff costs
During the period, there were no staff costs.
7. Trustees renumeration and expenses
During the period, no Trustees received any remuneration or other benefits.
8. Creditors: Amounts falling due within one year
| Creditors: Amounts falling due within one year | |
|---|---|
| 2021 | |
| £ | |
| Trade creditors | 960 |
| Accruals and deferred income | 3,400 |
| ----------------- | |
| 4,360 | |
| ========= |
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BE RAW
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2021
9. Statement of Funds
| Balance at | |||
|---|---|---|---|
| 30 June | |||
| Income | Expenditure | 2021 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Funds – all funds | 65,964 | (14,488) | 51,476 |
| -------------------- | ------------------ |
--------------- | |
| 65,964 | (14,488) | 51,476 | |
| ========== | ========== | ========= |
| 10. | Analysis of net assets between funds | |
|---|---|---|
| Total | ||
| Funds | ||
| 2021 | ||
| £ | ||
| Current assets | 55,836 | |
| Creditors due within one year | (4,360) | |
| --------------- | ||
| Total | 51,476 | |
| ======== | ||
| 11. | Analysis of cash and cash equivalents | |
| 2021 | ||
| £ | ||
| Cash at bank | 55,836 | |
| --------------- | ||
| Total cash and cash equivalents | 55,836 | |
| ======== |
12. Related party transactions
During the period, donations of £64,964 were received Rebecca Abigail PR Ltd from a connected company of which R A Watts the chair of Be Raw is the director.
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