Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA
Dear Sirs
HOFENUNG FOUNDATION
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your report on the company’s financial statements for the year ended 30 September 2023. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
GENERAL
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We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.
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We confirm that the company qualifies as small in accordance with the conditions set out in chapter 1 of part 15 of the Companies Act 2006.
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We Confirm that the company was entitled to exemption under section 477 of the Companies Act 2006 from the requirement to have its financial statements for the financial year ended 30-Sep2023 audited. We also confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476 of the Companies Act 2006.
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We have fulfilled our responsibilities as directors, as set out in the terms of your engagement letter dated funder the Companies Act 2006, for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view.
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All the transactions undertaken by the company have been properly reflected and recorded in the accounting records.
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All the accounting records and related financial information, including minutes of all management and shareholders’ meetings have been made available to you for the purpose of your work.
ASSETS AND LIABILITIES
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The company has satisfactory title to all assets and there are no liens or encumbrances on the company’s assets, except for those that are disclosed as applicable in the notes to the financial statements.
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All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as applicable.
LOANS AND ARRANGEMENTS
- The company has not granted any advances or credits to, or made guarantees on behalf of, the directors other than those disclosed in the financial statements.
LEGAL CLAIMS
- We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed as applicable in the financial statements.
LAWS AND REGULATIONS
- We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
RELATED PARTIES
- Related party relationships and transactions have been appropriately accounted for and disclosed as applicable in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of company law or accounting standards.
SUBSEQUENT EVENTS
- All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed as applicable.
GOING CONCERN
- We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the company's ability to continue as a going concern need to me made in the financial statements.
Yours faithfully
T Allen
(Trustee)
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Signed on behalf of the board of directors
Date:
May 28, 2024
REGISTERED COMPANY NUMBER: 12899786 (England and Wales) REGISTERED CHARITY NUMBER: 1196403
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 30 September 2023
for
Hofenung Foundation
Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA
Hofenung Foundation
Contents of the Financial Statements for the year ended 30 September 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
Hofenung Foundation (Registered number: 12899786)
Report of the Trustees
for the year ended 30 September 2023
DIRECTORS AND TRUSTEES REPORT
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of 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
Objectives and aims
To promote racial tolerance and eliminate discrimination, in particular anti-semitism but not exclusively by the provision of funding and other support to charities, organisations and individuals and the promotion of effective interventions and approaches that seek to prevent, counter and address such racial intolerance and discrimination. In furtherance of this object but not otherwise, the trustees shall have the power to engage in political activity provided that the trustees are satisfied that the proposed activities will further the purposes of the charity to an extent justified by the resources committed and that such activities are not the dominant means by which the charity carries out its objects.
Grantmaking
The Foundation will generally make smaller, more frequent grants (under £10,000), but do not rule out considering any grants which further its mission, as the reserves allow.
Achievement and performance
Fundraising activities
The charity has been set up recently and is in the process of establishing itself. Currently it does not use fundraising services, consultants or external professional fundraisers to undertake its fundraising activities. Additionally, no data is shared with or sold to any external agencies.
It has not yet launched a website and does not have a social media presence on any platform.At present it has no databases or subscribers and has not undertaken any direct mail campaigns or held any events.The charity will begin to build contacts through existing business networks but will not approach or pressure vulnerable people to support its work. A complaints policy is in place. .No complaints were received and no failures to comply were identified in the current period. The charity adheres to the Fundraising Code of Practice issued by the Fundraising Regulator.The charity intends to ensure that any future fundraising events are monitored by the Trustees and/or appointed charity representatives with contact made during the preparation for, and clean up from, the event.All future marketing materials will be checked by the Trustees and/or appointed charity representatives.to ensure they comply with the Fundraising Code of Practice.
Reserves Policy
The objective of the reserve policy is to achieve a balance between the need to use voluntary income received to fulfil the charity's objectives.
Financial review
Financial position
At the end of the period, the Foundation had a surplus reserves of £6,399.
Fundraising
The trustees are grateful to the individuals and organisations that have given money or raised funds for the Foundation.
Structure, governance and management Staff and Administration
The Foundation has no direct staff. Currently the Trustees carry out all financial management tasks and administrative tasks voluntarily.The principal office is based in London
Reference and administrative details
Registered Company number
12899786 (England and Wales)
Page 1
Hofenung Foundation (Registered number: 12899786)
Report of the Trustees for the year ended 30 September 2023
Registered Charity number 1196403
Registered office
New Derwent House 69-73 Theobalds Road London WC1X 8TA
Trustees
Sir T Chinn Director Lord J N Mendelsohn Director Ms T J Allen Trustee
Independent Examiner
Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA May 28, 2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... Ms T J Allen - Trustee
Page 2
Independent Examiner's Report to the Trustees of
Hofenung Foundation
Independent examiner's report to the trustees of Hofenung Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Nicola Pearson
Cooper Parry Advisory Limited New Derwent House 69-73 Theobalds Road London WC1X 8TA
Date: .............................................
Page 3
Hofenung Foundation
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 30 September 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 71,196 | 35,800 | |
| Expenditure on | |||
| Charitable activities | |||
| Charity | 55,704 | 20,000 | |
| Other | 5,368 | 3,521 | |
| Total | 61,072 | 23,521 | |
| NET INCOME | 10,124 | 12,279 | |
| Reconciliation of funds | |||
| Total funds brought forward | (3,725) | (16,004) | |
| Total funds carried forward | 6,399 | (3,725) |
The notes form part of these financial statements
Page 4
Hofenung Foundation
Balance Sheet 30 September 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| Current assets | |||
| Cash at bank | 27,476 | 19,239 | |
| Creditors | |||
| Amounts falling due within one year | 4 | (21,077) | (22,964) |
| Net current assets/(liabilities) | 6,399 | (3,725) | |
| Total assets less current liabilities | 6,399 | (3,725) | |
| NET ASSETS/(LIABILITIES) | 6,399 | (3,725) | |
| Funds | 6 | ||
| Unrestricted funds | 6,399 | (3,725) | |
| Total funds | 6,399 | (3,725) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on May 28, 2024 ............................................. and were signed on its behalf by:
............................................. T J Allen - Trustee
The notes form part of these financial statements
Page 5
Hofenung Foundation
Notes to the Financial Statements for the year ended 30 September 2023
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
The financial statements have been prepared on a going concern basis.This assumes continued support from the trustees for the foreseeable future.
Income
All income is recognised in the Statement of Financial Activities once the foundation charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Governance costs
Governance costs include costs of the preparation of the statutory accounts.
2. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.
Page 6
Hofenung Foundation
Notes to the Financial Statements - continued for the year ended 30 September 2023
3. Comparatives for the statement of financial activities
| Income and endowments from Donations and legacies Expenditure on Charitable activities Charity Other Total NET INCOME Reconciliation of funds Total funds brought forward Total funds carried forward 4. Creditors: amounts falling due within one year Other loans (see note 5) Trade creditors Accrued expenses 5. Loans An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 6. Movement in funds At Unrestricted funds General fund TOTAL FUNDS |
Unrestricted fund £ 35,800 20,000 3,521 23,521 12,279 (16,004) (3,725) 2023 2022 £ £ 18,627 18,314 250 250 2,200 4,400 21,077 22,964 2023 2022 £ £ 18,627 18,314 Net movement 1/10/22 in funds At 30/9/23 £ £ £ (3,725) 10,124 6,399 (3,725) 10,124 6,399 |
|---|---|
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Hofenung Foundation
Notes to the Financial Statements - continued for the year ended 30 September 2023
6. Movement in funds - continued
Net movement in funds, included in the above are as follows:
| Incoming | Incoming | Resources | Movement | Movement |
|---|---|---|---|---|
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 71,196 | (61,072) | 10,124 | |
| TOTAL FUNDS | 71,196 | (61,072) | 10,124 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | ||||
| At 1/10/21 | in funds | At 30/9/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (16,004) | 12,279 | (3,725) | |
| TOTAL FUNDS | (16,004) | 12,279 | (3,725) | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 35,800 | (23,521) | 12,279 | |
| TOTAL FUNDS | 35,800 | (23,521) | 12,279 |
A current year 12 months and prior year 12 months combined position is as follows:
| At Unrestricted funds General fund TOTAL FUNDS |
Net movement 1/10/21 in funds At £ £ (16,004) 22,403 (16,004) 22,403 |
30/9/23 £ 6,399 |
|---|---|---|
| 6,399 |
Page 8
Hofenung Foundation
Notes to the Financial Statements - continued for the year ended 30 September 2023
6. Movement in funds - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 106,996 | (84,593) | 22,403 |
| TOTAL FUNDS | 106,996 | (84,593) | 22,403 |
7. Related party disclosures
As at the balance sheet date a sum of £6,126 (2022: £5,812) was owed to Red Capital Ltd a company owned by a director and trustee of the charity.
During the year a donation of £55,704 (2022: £20,000) was paid to No Pasaran Media Ltd a company owned by a director.
8. Loan from the trustees
The Charity had a loan of £12,502 (2022: £12,502) from it's trustees.
Page 9
Hofenung Foundation
Detailed Statement of Financial Activities for the year ended 30 September 2023
| Income and endowments Donations and legacies Donations Total incoming resources Expenditure Charitable activities Grants to institutions Support costs Governance costs Accountancy fees Bank charges Consultancy Subscriptions Total resources expended Net income |
2023 £ 71,196 71,196 55,704 3,423 364 1,546 35 5,368 61,072 10,124 |
2022 £ 35,800 |
|---|---|---|
| 35,800 20,000 3,160 361 - - |
||
| 3,521 | ||
| 23,521 | ||
| 12,279 |
This page does not form part of the statutory financial statements
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