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2023-08-30-accounts

Charity registration number 1195679

THE SEMBLE GRASSROOTS TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

THE SEMBLE GRASSROOTS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Y Ogden S Thorp R Kothari Charity number 1195679 Company number CE026569 Principal address 3 Garrick Street First Floor London WC2E 9BF Independent examiner Evelyn Partners (Thames Valley) Limited 22 Wycombe End Beaconsfield Buckinghamshire HP9 1NB

THE SEMBLE GRASSROOTS TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 11

THE SEMBLE GRASSROOTS TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2023

The Trustees present their annual report and financial statements for the year ended 31 August 2023.

The charity was first registered on the 1 September 2021 and commenced its charitable activities on 1 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's constitution, the Charities Act 2011 and "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).

Objectives and activities

The primary objective of theTrust is to support, enable and empower local grassroots community organisations throughout the United Kingdom to deliver charitable projects and services for the public benefit through the provision of grants.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

During the year the Trust made 60 donations and supported 60 grassroots organisations.

Achievements and performance

Financial review

During the year the charity received donations of £238,449 (2022: £326,732) and paid out grants of £348,126 (2022: £163,233). After grant administration and support and governance costs of £4,038 (2022: £15,558) were paid, the charity had restricted funds of £30,396 (2022: £144,111).

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a low level as support will be provided from Semble Networks Limited to ensure that the administration costs of the charity will be covered while the charity is getting started. The support given this year amounted to £4,038 (2022: £14,488). The trust are considering ways to make the charity self sufficient and to generate unrestricted reserves.

Structure, governance and management

The trust is a Charitable Incorporated Organisation and as such is not limited. If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

The Trustees who served during the year and up to the date of signature of the financial statements were: Y Ogden S Thorp R Kothari

Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

None of the Trustees has any beneficial interest in the company.

THE SEMBLE GRASSROOTS TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Statement of Trustees' responsibilities

The Trustees 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).

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 trust and of the incoming resources and application of resources of the trust for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees' report was approved by the Board of Trustees.

Yvonne Ogden Yvonne Ogden (Jun 27, 2024 17:11 GMT+1)

..............................

Y Ogden Trustee

27th June 2024 Date: .............................................

THE SEMBLE GRASSROOTS TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE SEMBLE GRASSROOTS TRUST

I report to the Trustees on my examination of the financial statements of The Semble Grassroots Trust (the trust) for the year ended 31 August 2023.

Responsibilities and basis of report

As the Trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Jonathan David Hague Evelyn Partners (Thames Valley) Limited

22 Wycombe End Beaconsfield Buckinghamshire HP9 1NB

Dated: .........................

THE SEMBLE GRASSROOTS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2023
2023
2023
2022
2022
Notes
£
£
£
£
£
Income from:
Donations and legacies
2
4,038
234,411
238,449
15,588
307,344
Total income
4,038
234,411
238,449
15,588
307,344
Expenditure on:
Charitable activities
3
4,038
348,126
352,164
15,588
163,233
Total charitable
expenditure
4,038
348,126
352,164
15,588
163,233
Net income/(expenditure) and
movement in funds
-
(113,715)
(113,715)
-
144,111
Reconciliation of funds:
Fund balances at 1 September
2022
-
144,111
144,111
-
-
Fund balances at 31 August
2023
-
30,396
30,396
-
144,111		 Total
2022
£
322,932
322,932
178,821
178,821
144,111
-
144,111

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE SEMBLE GRASSROOTS TRUST

BALANCE SHEET

AS AT 31 AUGUST 2023

Notes
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within
one year
9
Net current assets
The funds of the trust
Restricted income funds
10		 2023
£
4,763
31,513
36,276
5,880		 £
30,396
30,396
30,396		 2022
£
3,139
143,912
147,051
2,940		 £
144,111
144,111
144,111

27th June 2024

The financial statements were approved by the Trustees on .........................

Yvonne Ogden Yvonne Ogden (Jun 27, 2024 17:11 GMT+1)

.............................. Y Ogden Trustee

THE SEMBLE GRASSROOTS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

Charity information

The Semble Grassroots Trust is a Charitable Incorporated Organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.3 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

Governance costs and support costs relating to charitable activities have been apportioned based on the number of individual grant awards made in recognition that the administrative costs of awarding grants.

THE SEMBLE GRASSROOTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6 Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic financial Instruments” to all of its financial instruments.

Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Donations and gifts 4,038 234,411 238,449 15,588 307,344 322,932

THE SEMBLE GRASSROOTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

3 Expenditure on charitable activities

Heading Heading
#ac982 #ac982
2023 2022
£ £
Direct costs
Administration expenses - 1,100
Grant funding of activities (see note 4) 348,126 163,233
Share of support and governance costs (see note 5)
Support 1,098 2,248
Governance 2,940 12,240
352,164 178,821
Analysis by fund
Unrestricted funds 4,038 15,588
Restricted funds 348,126 163,233
352,164 178,821

4 Grants payable

Support to
Support to
grassroot
grassroot
organisations organisation
s
2023 2022
£ £
Grants to institutions:
Other 348,126 163,233

Support to grassroot organisations

All grants made are to grassroots organisations across the United Kingdom to enable and empower them to deliver charitable projects and services for public benefit.

THE SEMBLE GRASSROOTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

5 Support costs

Support
costs
Governance
costs
£
£
Administrative expenses
858
-
Bank charges
240
-
Independent examination
fees
-
2,940
Legal and professional
-
-
1,098
2,940
Analysed between
Charitable activities
1,098
2,940		 2023
Support
costs
Governance
costs
£
£
£
858
2,049
-
240
199
-
2,940
-
2,940
-
-
9,300
4,038
2,248
12,240
4,038
2,248
12,240		 2022
£
2,049
199
2,940
9,300
14,488
14,488

6 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

7 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 8 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income
9
Creditors: amounts falling due within one year
Accruals and deferred income		 2023
£
963
3,800
4,763
2023
£
5,880		 2022
£
3,139
-
3,139
2022
£
2,940

THE SEMBLE GRASSROOTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

10 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources At 31 August
September resources expended 2023
2022
£ £ £ £
Proud to Pitch In 135,686 223,411 (333,126) 25,971
Grassroot support 8,425 11,000 (15,000) 4,425
144,111 234,411 (348,126) 30,396
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2022
2021
£ £ £ £
Proud to Pitch In - 290,944 (155,258) 135,686
Grassroot support - 16,400 (7,975) 8,425
- 307,344 (163,233) 144,111

Proud to Pitch In

The restricted funds relates to amounts received from Greene King to fund their "proud to pitch in" grants where Greene King's customer have the opportunity to nominate local grassroots sports organisations to receive grant of up to £3,000. The Semble Grassroots Trust is administrating the payment of these grants on behalf of Greene King.

Grassroot support

This fund relates to small amounts received from different funders to support grassroot organisations. The funder determines who received the grant. The Semble Grassroots Trust is administrating the payment of these grants on behalf of of the funders.

11 Analysis of net assets between funds

Restricted
funds
2023
£
Fund balances at 31 August 2023 are represented by:
Current assets/(liabilities) 30,396
30,396

THE SEMBLE GRASSROOTS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

11 Analysis of net assets between funds (Continued)
Restricted
funds
2022
£
Fund balances at 31 August 2022 are represented by:
Current assets/(liabilities) 144,111
144,111

12 Related party transactions

There were no disclosable related party transactions during the year.

The Semble Grassroots Trust

MINUTES OF A MEETING OF THE TRUSTEES

PRESENT:

Y Ogden S Thorp

R Kothari

ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

The accounts of the charity, together with the independent examiners report thereon, were presented to the meeting and it was resolved that such accounts are hereby approved.

Yvonne Ogden

27/06/2024

Yvonne Ogden (Jun 27, 2024 17:11 GMT+1)

........................................... .................................................... Date of meeting Chairman

3 Garrick Street

First Floor London WC2E 9BF

THE SEMBLE GRASSROOTS TRUST

Evelyn Partners (Thames Valley) Limited 22 Wycombe End Beaconsfield Buckinghamshire HP9 1NB

Date:............................................

Dear Sirs

REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

We confirm, to the best of our knowledge and belief and having made appropriate enquiries of other Trustees and officials of the charity, the following representations made to you in respect of the above accounts.

  1. All accounting and financial records of the charity have been made available to you for the purpose of preparing the accounts and all the transactions undertaken by the charity were in the normal course of business and at arm's length and have been properly reflected and recorded in the accounting records. You have been provided with the information and explanations necessary for an understanding of the transactions undertaken, the assets owned and the liabilities and commitments incurred by the charity. All other records and related information, including minutes of meetings of Trustees held to the date of this letter have been made available to you.

  2. We confirm that there have been no actual or suspected instances of fraud involving management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we determine not aware of any allegation of fraud by former employees, regulators or others.

  3. The financial statements are free of material misstatements, including omissions.

  4. There were no transactions or arrangements in the year, involving Trustees or officers that should, except as disclosed in the notes to the accounts.

  5. We confirm that related party and control disclosures in the financial statements are complete.

  6. We confirm that we determine not aware of any claims, legal proceedings or other matters outstanding which may lead to a material liability falling on the charity and no irregularities have come to our attention during the year under examination and to the date of approval of the accounts, except as disclosed in the notes to the accounts.

  7. All laws and regulations applicable to the company provided by statute or otherwise have been complied with, or all instances of non-compliance have been brought to your attention.

  8. There have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or inclusion of a note thereto.

  9. The charity has the ability to continue as a going concern and this is an appropriate basis for the preparation of the accounts. The period we have considered is in excess of one year from the date of the approval of the financial statements and if budgets or forecasts have not been available for the year under consideration in our opinion they are not necessary.

We acknowledge as Trustees our responsibility under the Charities Act 2011 for the preparation of the accounts and we approve the accounts which Harwood Hutton Limited finalised on our behalf.

Signed on behalf of the board of directors.

Yvonne Ogden Yvonne Ogden (Jun 27, 2024 17:11 GMT+1) Y Ogden Director

The Semble Grassroots Trust - Company Registration No. 1195679 (England and Wales) Registered office 3 Garrick Street, First Floor, London, , WC2E 9BF