SOWS CHARITY
Report and Financial Statements
For Year Ending 31 January 2023 Charity Number 1197951 (England & Wales)
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Sows Charity
Contents
| Contents | |
|---|---|
| Page | |
| Legal and Administrative Information | 3 |
| Report of the Trustees | 4 and 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes forming part of the Balance Sheet | 8 |
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Sows Charity
Trustees
Mr David Grauman
Mr David Landesman
Mr Yaakov Yosef Meir Wohl
Administration Address
Flat 3 May Court
Fountayne Road
London N16 7EB
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Sows Charity
Report of the Trustees
The trustees present their annual report and Financial Statements of the Charity for the Year Ended 31 January 2023
The trustees in office during the year were Mr David Grauman, Mr David Landesman and Mr Yaakov Yosef Meir Wohl. No trustee nor any person connected with them received any remuneration during the year.
Status and Administration
The Charity was registered on 17 February 2022.
Charitable Objects
The Charity’s objective is to provide opportunities to develop financial literacy and entrepreneurial skills to motivated individuals who want to become self-sufficient. We ease this process by providing financial and emotional boosts in the initial stage, and during crises or hard times to benefit themselves and their dependents.
Reserves Policy
The trustees retain reserves as necessary and where appropriate, consolidate funds in order to make more substantial grants which they feel to be appropriate.
Responsibilities of the Trustees
Charity Law requires the trustees to prepare Financial Statements for each financial year which give a true and fair view on the state of affairs of the Charity as at the Balance Sheet date, and of its incoming resources, including income and expenditure for the financial year.
In preparing those Financial Statements the trustees should follow best practice and;
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a. Select suitable accounting policies and apply them consistently
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b. Make judgements and estimates that are reasonable and prudent
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c. Follow applicable accounting standards and the Charities SORP 2015 disclosing and explaining any departures in the Financial Statements
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d. Prepare the Financial Statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity, and to enable them as trustees to ensure that the Financial Statements comply with Charity Law.
The trustees are also responsible for safeguarding the charity’s assets and hence for taking reasonable steps for the detection of fraud and other irregularities.
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Sows Charity
Board of Trustees
The members of the board are set out in page 3.
Political and Charitable Donations
During the year the Charity received donations of £5,043.
Approved by the Trustees on 30 November 2023
Trustee
Mr David Grauman
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Sows Charity
Statement of Financial Activities for the year ended 31 January 2023
| Income Donations Received Total Income Expenditure Poverty Grants Accounting Fee Total Expenditure Net Income /Expenditure for the year Total Funds brought forward Total Funds carried forward |
2,600 720 |
2023 Total Funds £ 5,043 |
|---|---|---|
| 5,043 3,320 |
||
| 1,723 - |
||
| 1,723 |
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Sows Charity
Balance Sheet as at 31 January 2023
| Current Assets Cash at Bank Current Liabilities Accruals Net Assets Charity Funds Restricted Funds Unrestricted Funds Total Funds |
2023 £ 2,443 |
|---|---|
| 2,443 (720) |
|
| 1,723 - 1,723 |
|
| 1,723 |
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Sows Charity
Note to the Accounts
1. Principle accounting policies
Basis of Accounting
The accounts have been prepared under the historical cost convention in accordance with the Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting by Charities: statement of Recommended Practice (effective from April 2015).
Cash Flow
The accounts do not include a cash flow statement because the charity as a small reporting entity is exempt from the requirement to prepare such a statement.
Donation and Fund Accounting
Donations received for the general and main purposes of the charity are included as unrestricted funds in the statement of Financial Activities when receivable.
Expenditure
Expenditure is accounted for on an accrual basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year.
The irrecoverable element of VAT is included with the item of expense to which it relates.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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