Joshy’s Heart of Gold
Report and Financial Statements
For the year ended 31st March 2023
(Charity Number: 196594)
Joshy’s Heart Of Gold FINANCIAL STATEMENTS For the year ended 31st March 2023
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Report | 2 |
| Trustees’ Report | 3 to 7 |
| Independent Examiner’s Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes forming part of the Financial Statements | 11 to 18 |
| Reference and Administrative Information | |
| Charity Name | Joshy’s Heart Of Gold |
| Charity Registration Number | 1196594 |
| Trustees | Samatha Young Maria Fowler George Young |
| Principal Address | 8 LABURNUM WAY BROMLEY BR2 8BZ |
| Independent Examiner | Future Insight Consultancy LTD Airvio Business Centre 1 Bromley Lane Chislehurst Kent BR7 6LH |
| Bankers | Metro Bank |
The Trustees present their report with the financial statements of the charity Joshy’s Heart Of Gold for the period ended 31st March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1. of the accounts and comply with its memorandum, the Charity's Act 2011 and the Statement of Recommended Practice: 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).
Structure, Governance and Management:
Constitution
The object of the Charitable Incorporated Organisation (“CIO”) is:
To relieve the distress and suffering of parents, families and friends of those affected by fatal or serious injury of a loved one in particular but not exclusively those who are affected by the fatal of serious injury of a child or young person in a road traffic incident. Covering Southeast London.
The Trustees confirm that they have referred to guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Recruitment and appointment of new trustees Induction and training of new trustees
When new trustees are appointed, they are given an induction by the founder on the charity’s core values and procedures.
Trustee Board and meetings
Trustee meetings are held every 2 months. The Trustees agree on the strategy, policies and terms and conditions for the day to day running of the organisation, Joshy’s Heart Of Gold handbook lays out information for staff and volunteers on all aspects of our operations, including Legal Structure, Terms and Conditions, Constitution and Policies. Policies and procedures in place include:
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Health and Safety Policy
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Equality, Diversity & Inclusion Policy
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Environmental Statement
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Social Media & Digital Communications Policy
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Confidentiality Policy
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Data Protection Policy
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Complaints Procedure
Staff
At the period end, Joshy’s Heart of Gold had no full-time employees.
Risk management
The trustees have a risk management strategy which comprises:
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An annual review of the risks the charity may face;
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The establishment of systems and procedures to mitigate those risks identified in the plan; and
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The implementation of procedures designed to minimise any potential impact on the charity should
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those risks materialise.
Risks within Joshy’s Heart of Gold are continually monitored by the Trustees at trustee meetings. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the trustees.
The Charity is committed to safeguarding all those who participate in its activities and expects all
trustees and volunteers to share this commitment. Commitment is implemented through appropriate checks, training and procedures.
The trustees confirm that they have referred to guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
Achievements and Performance
In the short time, the charity has been running the founder and trustees have tried to raise as much funds as possible, by organising a bike ride, family fun run, and event nights and Victoria has completed a skydive herself.
The Charity has helped with funds raised from these events in the following ways.
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The charity has helped to put in place at the Royal London Hospital a bereavement nurse to support families.
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The charity has created a tranquil family room filled with toys and comforts so families dealing with the distressing time of having a sick child can have somewhere to be together in the hospital.
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• The charity has set up a telephone helpline to support bereaved families.
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The Charity has given grants to families with a sick child at the Royal London Hospital so they can use the money for food, travel costs, or a hotel stay.
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At Christmas the charity provided gifts for children staying in the children's ward at Royal London Hospital.
Business Development:
The trustees and founder want the charity to be as successful as possible and will be implementing the following to help development.
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Organising new fundraising events which concentrate on small outlay but good profit for the charity.
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Building good relationships with local businesses to build up more awareness of the charity to result in more donations and raffle prizes for events.
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Look into funding that may be available for the charity from the government or other organisations.
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Build up social media platforms and websites to raise awareness with the public to receive more donations.
Future Plans:
• To continue to help bereaved families in their hour of need by providing grants at Royal London Hospital • To expand the telephone helpline to support more bereaved families.
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To put bereavement nurses and tranquil family rooms in children’s wards in other local hospitals.
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Create a memorial garden where people can have a tranquil open space to remember their loved ones.
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• To open a charity shop.
Financial Review:
We received £12,947.00 in donations since the charity started in November 21 up to 31[st] March 23 and the charity is steadily growing and raising awareness which is resulting in more donations being received.
Reserves:
We strive to build up reserves to budget for cover for a period of running costs. The Trustees estimate that an adequate level of unrestricted reserves would be three months of expenditure or around £2000.00. Currently, the unrestricted reserve balance at the year-end is £2000.00.
The next year (2023-24) is looking better for Joshy’s Heart of Gold, thanks to the help of the trustees and having a good business plan of where we want to take the charity.
Statements of trustees' responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed require the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those 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 Accounting and Reporting by Charities: Statement Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable United Kingdom Accounting Standards have been followed, subject to
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any material departures disclosed and explained in the accounts; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume
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that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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 charity 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.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Trustees on the 'Date’ and signed on their behalf by,
Victoria Battman, Chair
Victoria Battman (Jan 29, 2024 17:17 GMT)
Joshy’s Heart of Gold
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF
I report to the charity trustees on my examination of the accounts of the Charity for the period ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). You are satisfied that the accounts are not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the Charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the applicable 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 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.
Michèle Yianni- Attard
Future Insight Consultancy Ltd Airvio Business Centre 1 Bromley Lane Chislehurst Kent BR7 6LH
Date: 22[nd] January 2024
Joshy’s Heart of Gold
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31st March 2023
| Notes | Unrestricted Funds |
Restricted Funds |
Total | Total | |
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | £ | £ | ||
| INCOME FROM: | |||||
| Charitable activities: Grants and donations |
2 |
12,937 | 0 | 12,937 | 0 |
| TOTAL INCOME | 12,937 | 0 | 12,937 | 0 | |
| EXPENDITURE ON: | |||||
| Charitable activities | 3 | 5,975 | 0 | 5,975 | 0 |
| TOTAL EXPENDITURE | 5,975 | 0 | 5,975 | 0 | |
| Net income/(expenditure) |
4 | 6,962 | 0 | 6,962 | 0 |
| Total Funds brought forward |
5 | 0 | 0 | 0 | 0 |
| Total funds carried forward |
6 | 6,962 | 0 | 6,962 | 0 |
All the above results derive from continuing charitable rants activities.
Joshy’s Heart of Gold
BALANCE SHEET as at 31st March 2023
as at 31st |
March 2023 |
||
|---|---|---|---|
| Notes | 2023 £ |
2022 £ |
|
| Tangible Fixed Assets |
7 | 0 | 0 |
| Current Assets | |||
| Debtors | 8 | 0 | 0 |
| Cash at Bank and in Hand |
7,826 | 0 | |
| NET CURRENT ASSETS |
|||
| Creditors: Amounts Falling Due within one Year |
9 | 864 | 0 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
6,962 | 0 | |
| FUNDS OF THE CHARITY |
10 | ||
| Unrestricted Funds | 6,962 | 0 | |
| Restricted Funds | 0 | 0 | |
| ~~TOTAL FUNDS~~ | 6,962 | 0 |
The Financial Statements have been prepared in accordance with the Financial Reporting Standard 102.
The Financial Statements were approved, and authorised for issue, by the Board of Trustees on 26[th] January 2024 and signed on their behalf by Victoria Battman, Chair.
__________ Victoria Battman, Chair
The notes on pages 11 to 16 form part of these accounts
Joshy’s Heart of Gold
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st March 2023
1. ACCOUNTING POLICIES
The principal accounting policies adopted are as follows:
(a) Basis of Preparation
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention. The presentational currency of the financial statements is Pound Sterling (£).
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently valued at their carrying value.
The charity has taken advantage of the disclosure exemption permitted by FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, and has not prepared a Statement of Cash Flows.
(b) Incoming Resources
Incoming resources are recognised in the Statement of Financial Accounting (“SOFA”) once the organisation becomes entitled to the resources, it is probable that the resources will be received and the monetary value can be measured with sufficient reliability.
Where incoming resources have related expenditure (as with fundraising or contract income), the incoming resources and related expenditure are stated gross in the SOFA. Grants and donations are only included in the SOFA when the organisation has an unconditional entitlement to the funds. Investment income is included when receivable.
(c) Resources Expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to the expenditure or to pay out resources. Resources expended include attributable VAT which cannot be recovered. Support costs, which include governance cost (costs for the preparation and examination of statutory accounts, the costs of Management Committee meetings and costs of any legal advice to the Management Committee on governance or constitutional matters) include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources.
1. ACCOUNTING POLICIES (Continued)
(d) Tangible Fixed Assets, Depreciation
Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £1,000. They are stated at cost less depreciation.
Depreciation is calculated to write off the cost of fixed assets less their estimated residual value on a straight line over their expected useful life, which in all cases is estimated to be four years.
(e)
Restricted and Unrestricted Funds
The accounts distinguish between restricted and unrestricted funds. Restricted funds are received from donors and are subject to restrictions on the purpose for which they may be used. Unrestricted funds are those where there are no externally imposed restrictions and are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
(f)
Short-term debtors and creditors
Debtors are recognised when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Creditors are recognised when the charity has a present legal or constructive obligation resulting from a past event to make payment to a third party, it is probable that settlement will be required and the amount due to settle the obligation can be measured or estimated reliably.
(g) Judgments and key sources of estimation uncertainty
No judgments (apart from those involving estimates-) have been made in the process of applying the above accounting policies that have a significant effect on amounts recognised in the financial statements. ·
Joshy’s Heart of Gold
NOTES TO THE FINANCIAL STATEMENTS-CONTINUED For the Year ended 31 ~~[st ]~~ March 2023
2. GRANTS AND DONATIONS
| Unrestricted | Restricte | Total | |
|---|---|---|---|
| Funds | d Funds | 2023 | |
| £ | £ | £ | |
| Donations | 12,937 | 0 | 12,937 |
| Total Income | 12,937 | 0 | 12,937 |
3. DETAILED ANALYSIS OF CHARITABLE ACTIVITIES EXPENDITURE
| Charitable Activities | |||
|---|---|---|---|
| Events Fundraising costs Grants to Hospitals Familyroom items |
30 1,864 1,841 1,030 |
0 0 0 0 |
30 1,864 1,841 1,030 |
| Telephone and internet Travel expenses |
350 60 |
0 0 |
350 60 |
| Resources | |||
| Accountancy | 800 | 0 | 800 |
| Total expenditure | 5,975 | 0 | 5,975 |
a. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31st March 2023.
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| The reimbursement of expenses paid to the Trustees where |
0 | 0 |
b. STAFF COSTS
| b. STAFF COSTS | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Wages and salaries | 0 | 0 |
| Social securitycosts | 0 | 0 |
| Pension Costs | 0 | 0 |
| 0 | 0 |
The average number of employees during the period was 0.
The key management personnel of the charity are those persons having authority and responsibility for planning, directing and controlling the activities of the charity, directly or indirectly, including any trustee of the charity and, in the case of the charity, includes the Chief Executive. Total employee benefits paid to key management personnel in the period amounted to £0 (2022: £0).
c. TAXATION
As a charity, Joshy’s Heart of Gold is exempt from liability to taxation on non-trading income and capital gains provided these are applied to its charitable objects. No tax charges have arisen in the Charities activities
Joshy’s Heart of Gold NOTES TO THE FINANCIAL STATEMENTS-CONTINUED For the period ending 31st March 2023
d. TANGIBLE FIXED ASSETS
Office Furniture Cost
At 31st March 2022 and 31st March 2023 £0 Depreciation At 31st March 2022 and 31st March 2023 £0 Net Book Value At 31st March 2022 and 31st March 2023 £0
e. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Grants Receivable | 0 | 0 |
| Other Debtors | 0 | 0 |
| 0 | 0 |
f. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Accrued Expenses | 0 | 0 |
| Other Creditors | 0 | 0 |
| 0 | 0 |
10. GOING CONCERN
The financial statements have been prepared under the historical cost convention and on a going concern basis, which is dependent upon the availability of adequate continued funding. The nature of the organisation's funding is inherently uncertain as its only source of funding is from donations. Should the charities donations decrease in future years, the organisation would have to find other sources of funding, or significantly curtail its activities.