REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31st December 2022
FOR
THE SOFTWARE CHARITY
Registered charity in England & Wales with registration no: 1199034
THE SOFTWARE CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31st December 2022
| Report of the Trustees | X |
|---|---|
| Section 1: Structure, Governance & | |
| Management | |
| Section 2: Objectives & Activities | |
| Section 3: Achievements & Performance | |
| Section 4: Financial Review | |
| Section 5: Declaration | |
| Statement of Financial Activities | X |
| Balance Sheet | X |
| Notes to the Financial Statements | X |
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THE SOFTWARE CHARITY REPORT OF THE TRUSTEES
for the year ended 31 December 2022
The trustees present their report together with the financial statements of the charity for the year ended 31 December 2022 . 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 2015).
ADMINISTRATIVE DETAILS
Registered Charity number 1199034
Registered address:
The Software Charity Bridge House Station Approach Great Missenden HP16 9AZ
Trustees:
Steve Griffiths (Chair) Elizabeth Moseley Charles Vernon
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Section 1: Structure, Governance & Management
Governing document
The Software Charity is a Charitable Incorporated Organisation (CIO) governed by its Constitution dated 16th May 2022. The members of the CIO are its trustees and membership cannot be transferred to anyone else. Therefore, only the trustees of the CIO are able to vote on any matter relating to the CIO.
Appointment of trustees
As set out in the Constitution, trustees are appointed by a resolution passed at a properly convened meeting of the charity trustees. The chair of trustees is nominated by the trustees of the CIO and may at any point revoke such appointment. When considering the appointment of trustees, the board has regard to the requirement for any specialist skills needed for the effective administration of the CIO.
Trustee induction
Trustees are well aware of our objectives and the work we undertake. As such, the induction of new trustees is minimal. New trustees receive a copy of the current version of the Constitution, a copy of the most recent Trustees’ Annual Report and statement of accounts, and the Charity Commission’s ‘Charity Trustee Welcome Pack’ and ‘The essential trustee: what you need to know, what you need to do (CC3)’ guide.
Organisation
The board of trustees administers the CIO, with responsibilities for different areas. The board appoints a Chairman who directs the operations of the charity.
All trustees, and members of committees, give their time voluntarily and receive no benefits from the charity.
Section 2: Objective & Activities
The Software Charity has been set up to promote the efficiency and effectiveness of charities and the effective use of charitable resources through the development of low cost complete software based solutions for use by charities.
Significant activities
During the previous period we have:
▪ Founded the charity ▪ Raised £2785
▪ Developed the specification for the SignMeUp application in conjunction with input from target charities
Public benefit
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
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The Software Charity operates on a not for profit basis to design and build software specifically to tackle day-to-day challenges encountered by many charities. This is licensed to them, providing them with fit for purpose software without the burden of having to fund and manage complex software projects. This allows them to be more effective in achieving their own charitable objective, focusing more of their own time and money on the things that they primarily exist to do.
In the medium term, The Software Charity is working to produce a registrations and management software suite, called “SignMeUp”, to be used by children’s holiday clubs and events. There is already high demand for this from the Lighthouse group of charities and events, but the software will be able to support multiple types of children’s events regardless of their background or mission.
Longer term, The Software Charity will identify other opportunities within the charity sector for novel software products where there are no existing cost-effective solutions, with a goal of maintaining a broad suite of software that solves many common problems. The ultimate goal is to reduce costs for these charities, and allow them to spend more of their time and money on their primary charitable goals, rather than administrative costs.
Section 3: Achievements & Performance
Chairman’s Report for 2022
Over the last year, we have been successful in a funding application grant for £5000 which is our first major donation towards the SignMeUp application. The charity trustees and management team are focussed on progressing further fundraising grants and donations.
Since closing our 2022 financial period, I am delighted to further report that our fundraising efforts and the generosity of our donors enabled us to break ground on the SignMeUp application in Q2 2023. At the time of writing this report in June 2023, we are currently just under ⅓ of the way through our development phase, and assuming the continued receipt of funds, we are currently on track to have the software ready for use by 1st January 2024.
As a charity, we are also now beginning to focus on recruiting additional volunteer efforts to help us test and manage the application on a long term basis. This will be an important step, alongside the software itself, to ensure that our beneficiaries get the most out of it in helping to run their events and organisations.
I am very grateful to the Trustees and the other members of the management board for all of their efforts, both in terms of fundraising and their knowledge and expertise in helping to operate the charity.
Section 4: Financial Review
Financial position
For the financial year to 31 December 2022 the charity had an income of £2785 and an expenditure of £290. A balance on £2495 was carried forward into 2023. The full accounts are provided separately.
Principal funding sources
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The principal funding source for the CIO are donations from the beneficiaries of the CIO. Donations from individuals and trusts have also been sources of funding.
Reserves policy
None of the reserves are restricted as to their use. The trustees regularly review the reserves of the charity. The trustees consider that reserves should cover 12 months running and development costs in normal circumstances.
Going concern
The trustees have a reasonable expectation that fundraising efforts together with the current reserves will enable The Software Charity to continue in operational existence for at least one year from the date of approval of the accounts.
Funds in deficit
There are currently no funds in deficit.
Principal risks and uncertainties
We still need to raise considerable funds in order to bring the SignMeUp application to completion, but as these are fixed rather than ongoing costs, we currently have only very minimal ongoing exposure.
Section 5: Declaration
The trustees declare that they have approved this trustees’ report.
Signed on behalf of the charity’s trustees:
Full name: Mr Steve Griffiths Position: Chair of Trustees Date: 13th September 2023
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THE SOFTWARE CHARITY Charity No. 1199034
INCOME AND EXPENDITURE
FINANCIAL YEAR ENDED 31 December 2022
INCOME
| INCOME | |
|---|---|
| Donations | £2,784.63 |
| Subscriptions | £0.00 |
| Interest | £0.27 |
| Total | £2,784.90 |
| EXPENDITURE | |
| Banking | £5.00 |
| IT costs | £284.63 |
| Subcontractor labour | |
| Total | £289.63 |
| Income – expenditure | £2,495.27 |
| Balance brought forward from previous year | £0.00 |
| Balance carried forward to next year | £2,495.27 |
Notes
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The Software Charity was registered as a CIO on 20 May 2022. It began work in October 2021.
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The charity has chosen the option to align accounts with the Calendar year.
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The first transaction using the bank account was a donation on 6 December 2022
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Expenditure before the bank account was available is included; these transactions each had a corresponding donation.
Signed on behalf of The Software Charity
Dr Richard Peters Treasurer
I have reviewed and can confirm these accounts
Ian Branch, FCMA, CGMA, FIoD