Charity registration number 1196934
Company registration number CE027464 (England and Wales)
THE CHARLIE FOGARTY FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE CHARLIE FOGARTY FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr M Halsall Mr R C Beale Mr T A C Hill Ms L E Beale Mr M S Turl Ms S Halsall Mr C Fogarty Charity number 1196934 Company number CE027464 Principal address 110 Haslucks Green Road Shirley Solihull West Midlands B90 2EJ Accountants Jerroms Business Solutions Limited Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
THE CHARLIE FOGARTY FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Accountants' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
THE CHARLIE FOGARTY FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their annual report and financial statements for the year ended 31 December 2023.
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 charity's [governing document], the Companies Act 2006 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
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Hawksley Centre
We are In the process of promoting the work that we are doing with disability, I visited the Hawksley Centre not far from The Hayes in South Birmingham. They are desperate for us to conduct outreach activities there as the youth service hours have been cut due to the council’s financial strife. Given the capacity issues at The Hayes, this could be a win-win scenario and a very good look for the charity. The Hawksley Centre has a decent sized indoor hall and grass land that could be used in better weather.
Partnership with Warwickshire Cricket Club
In a couple of weeks, representatives of Warwickshire Cricket Foundation will be visiting a venue that we use called The Hayes in South Birmingham. They are interested in working with us and Mencap to deliver disability cricket. This would mean additional venue hire income for The Hayes and an expanded offer for the community. Warks would also be interested in training up some of our coaches if they wanted to expand into delivering cricket.
Representatives from Northfield Partnership have fed back to how impressed they’ve been at the work that’s being done at The Hayes to create opportunities for disabled people. This is encouraging as they are a key stakeholder locally and a broker of funds like the NNS funding mentioned above.
Achievements and performance
Significant activities and achievements against objectives
Financial review
Following on from our grant of almost £10,000 from the National lottery for our work with Disabled groups which has been a huge success, we’ve secured a further grant of £5,000 from the Northfield NNS Fund going in to 2023. NNS is budgeted to run for a further 5-7 years so successful delivery should equate to year on year funding for years to come. This 5K will enable us to continue our work with Mental health and Disability in the South Birmingham area.
One of the bids that is pending is within the gift of the local councillor to approve. Through our political connections I’ve found that Kings Norton North Ward is one of the few that hasn’t got its act together to make decisions on the CWG Legacy fund. I have twice invited the local elected member Alex Aitken to the site but have not received a reply to date.
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The charity is a charitable incorporated organisation.
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THE CHARLIE FOGARTY FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr M Halsall
Mr R C Beale
Mr T A C Hill
Ms L E Beale Mr M S Turl Ms S Halsall Mr C Fogarty
Recruitment and appointment of trustees
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Mr M Halsall
Trustee
30 May 2024
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THE CHARLIE FOGARTY FOUNDATION
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE CHARLIE FOGARTY FOUNDATION FOR THE YEAR ENDED 31 DECEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Charlie Fogarty Foundation for the year ended 31 December 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rulesand-standards/rulebook.html.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 16 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of The Charlie Fogarty Foundation and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Charlie Fogarty Foundation and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that The Charlie Fogarty Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Charlie Fogarty Foundation. You consider that The Charlie Fogarty Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of The Charlie Fogarty Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Jerroms Business Solutions Limited
Chartered Certified Accountants
30 May 2024 Lumaneri House Blythe Gate Blythe Valley Park Solihull West Midlands B90 8AH
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THE CHARLIE FOGARTY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 21,393 | 18,709 |
| Charitable activities | 4 | 16,866 | 12,901 |
| Net income and movement in funds | 4,527 | 5,808 | |
| Reconciliation of funds: | |||
| Fund balances at 1 January 2023 | 5,808 | - | |
| Fund balances at 31 December 2023 | 10,335 | 5,808 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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THE CHARLIE FOGARTY FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 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 charity Unrestricted funds |
2023 £ 700 10,835 11,535 1,200 |
£ 10,335 10,335 10,335 |
2022 £ 926 13,180 14,106 8,298 |
£ 5,808 |
|---|---|---|---|---|
| 5,808 | ||||
| 5,808 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 30 May 2024
Mr M Halsall
Trustee
Company registration number CE027464 (England and Wales)
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THE CHARLIE FOGARTY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
Charity information
The Charlie Fogarty Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is .
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, 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 charity is a Public Benefit Entity as defined by FRS 102.
The charity 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 charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity 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 charity 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.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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THE CHARLIE FOGARTY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
1.5 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. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 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.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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THE CHARLIE FOGARTY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
1 Accounting policies
(Continued)
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 13,378 | 16,276 |
| Grants | 8,015 | 2,433 |
| 21,393 | 18,709 |
4 Expenditure on charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Direct costs | ||
| Sports Coaches | 13,891 | 1,675 |
| Sports Equipment | - | 2,058 |
| Professional Fees | ||
| 1,400 | 2,168 | |
| Charitable donations | 1,575 | 7,000 |
| 16,866 | 12,901 | |
| Analysis by fund | ||
| Unrestricted funds | 16,866 | 12,901 |
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THE CHARLIE FOGARTY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
5 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
6 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
7 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
8 Debtors
9
| Amounts falling due within one year: Trade debtors Other debtors Creditors: amounts falling due within one year Accruals and deferred income |
2023 £ - 700 700 2023 £ 1,200 |
2022 £ 1 925 |
|---|---|---|
| 926 | ||
| 2022 £ 8,298 |
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | January | Incoming | Resources | At 31 | |
|---|---|---|---|---|---|---|
| 2023 | resources | expended | December | |||
| 2023 | ||||||
| £ | £ | £ | £ | |||
| General funds | 5,808 | 21,393 | (16,866) | 10,335 |
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THE CHARLIE FOGARTY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 10 | Unrestricted funds | (Continued) | |||
|---|---|---|---|---|---|
| Previous year: | At 1 January | Incoming | Resources | At 31 | |
| 2022 | resources | expended | December | ||
| 2022 | |||||
| £ | £ | £ | £ | ||
| General funds | - | 18,709 | (12,901) | 5,808 | |
| 11 | Related party transactions |
There were no disclosable related party transactions during the year (2022 - none).
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