Company registration number: CE026929 Charity registration number: 1196190
PEOPLE OF THE STREETS FOUNDATION
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND FINANCIAL STATEMENTS
30 APRIL 2024
PEOPLE OF THE STREETS FOUNDATION
CONTENTS
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' report | 2 to 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
PEOPLE OF THE STREETS FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS
| Chairman | A K D Greenhalgh |
|---|---|
| Trustees | O B McIntosh |
| K Fijalkowski | |
| Charity Registration Number | 1196190 |
| Company Registration Number | CE026929 |
| The charity is incorporated in England and Wales. | |
| Registered Office | 155 King Henry's Road |
| London | |
| NW3 3RD | |
| Accountants | Horsfield & Smith |
| Tower House | |
| 269 Walmersley Road | |
| Bury | |
| Lancashire | |
| BL9 6NX |
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PEOPLE OF THE STREETS FOUNDATION
TRUSTEES' REPORT
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 April 2024.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows:
Chairman: A K D Greenhalgh Trustees: O B McIntosh K Fijalkowski
Objectives and activities
Public benefit
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Statement of trustees' responsibilities
The trustees (who are also the directors of People of the Streets Foundation 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 its 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 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 accounting standards, comprising FRS 102 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 can disclose with reasonable accuracy at any time the financial position of the charitable company and enable 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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PEOPLE OF THE STREETS FOUNDATION
TRUSTEES' REPORT
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... A K D Greenhalgh Chairman
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PEOPLE OF THE STREETS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 APRIL 2024 (INCLUDING INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)
| Note Income and Endowments from: Expenditure on: Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds carried forward Note Income and Endowments from: Expenditure on: Net income/(expenditure) Net movement in funds Reconciliation of funds Total funds carried forward |
Total 2024 £ - |
|---|---|
| - | |
| - | |
| Total 2023 £ - |
|
| - | |
| - |
All of the charity's activities derive from continuing operations during the above two periods.
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BALANCE SHEET AS AT 30 APRIL 2024 (REGISTRATION NUMBER: CE026929)
PEOPLE OF THE STREETS FOUNDATION
Funds of the charity:
Total funds
| 2024 | ||
|---|---|---|
| Note | £ | |
| - |
For the financial year ending 30 April 2024 the charity was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 4 to 7 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... A K D Greenhalgh Chairman
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PEOPLE OF THE STREETS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 155 King Henry's Road London NW3 3RD
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
People of the Streets Foundation 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 notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
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PEOPLE OF THE STREETS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
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.
3 Taxation
The charity is a registered charity and is therefore exempt from taxation.
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