Registered number: 14041921 Charity number: 1199178
WALK TO THE HORIZON LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Auditors' Report on the Financial Statements | 6 - 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12 - 18 |
WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 MARCH 2023
| Trustees | Marcus Davey (appointed 12 April 2022) |
|---|---|
| Nomawushe Dumezweni (appointed 12 April 2022) | |
| Sean Egan (appointed 12 April 2022) | |
| Company registered number 14041921 Charity registered number 1199178 Registered office 50 Sheen Park Richmond Surrey TW9 1UW Independent auditors Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS |
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 MARCH 2023
The Trustees present their annual report together with the audited financial statements of the Company for the period 12 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the Charity are the advancement of education and the arts for the benefit of the public throughout the world by creating, staging and otherwise developing, supporting or promoting public arts projects, community festivals, performances or other cultural events or activities which raise awareness of equality and diversity issues, promote activities to foster understanding between people from diverse backgrounds (including but not limited to refugees and other displaced people), by promoting the conservation, protection and improvement of the physical and natural environment, by raising awareness of and promoting human rights (as set out in the Universal Declaration of Human Rights and subsequent United Nations conventions and declarations or otherwise).
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The Charity carries out their objectives through a strategy of grant making to the limited company The Walk Productions Limited (the Grant Recipient). The Grant Recipient agrees to at all times work within the charitable purposes and objects of the Charity.
The Trustees meet 3 to 4 times per year, typically remotely via zoom or similar, during which they will assess and, if appropriate, approve grants to the Grant Recipient. They also have powers to make a grant without a meeting if all Trustees approve by email.
The activities allowable under the grant are limited to Core Operating Costs of the Grant Recipient, current and future productions of the project known as “Little Amal” (sometimes known as “The Walk”) and any and all future projects of the Grant Recipient.
Future Projects should be approved by the Trustees of The Charity at a Board Meeting or if not practical, in writing, upon receipt of a brief artistic overview, a draft and subject to change budget and a draft and subject to change schedule. Future Projects include “The Herds” – a free public art project that will reach communities in approximately 15 countries from West Africa to Norway, raising awareness of the climate crisis, with far-reaching participation and education programmes. Research and development is intended to begin in mid 2023 and performances are intended to begin in March 2025.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
Objectives and activities (continued)
c. Activities undertaken to achieve objectives, including public benefit
The project “Little Amal” (sometimes known as “The Walk”) are collectively the journeys of a 12-foot puppet of a 10 year old Syrian refugee child. She has become a global symbol of human rights, especially those of refugees.
Since July 2021, Amal has travelled to 160 towns and cities in 16 countries and been welcomed by two million people on the street and by tens of millions online. 440 events unique to each community that she visits have been created for her by thousands of artists and civil society and faith leaders.
Her journeys are festivals of art and hope that draw attention to the huge numbers of children fleeing war, violence and persecution, each with their own story. Her urgent message to the world is “Don’t forget about us”.
At a community level, the impact of Little Amal occurs because The Walk Productions invests sufficient time and resource to create locally-led partnerships with schools, colleges, universities, local government, mayors, faith leaders, companies of artists, humanitarian NGOs and charities of every size who create experiences none could achieve or even imagine on their own.
The Walk Productions’ approach is to invite communities to become active agents of change through a collaborative artistic project that celebrates their identity, their experience, their history, their cultural skills and, ultimately, the collective achievements.
Achievements and performance
a. Main achievements of the Company
Between 1 April 2022 and 31 March 2023 the Charity’s main achievements were the provision of Grants totalling £400,000 and subsequent impact of these grants which was as follows:
Visits by Amal to Lviv in Ukraine (May 2022), Krakow, Lublin and Przemysl in Poland (May 2022), 11 cities across the UK during World Refugee Week (June 2022), New York City in the United States (September – October 2022), Amsterdam in the Netherlands (October 2022) and London and Brighton in the UK (March 2023).
The quantitative impact of these journeys was: 89 events in 16 cities, 242,000 people engaged live on the street, tens of millions engaged online.
In addition to these journeys, the Grants also enabled the research and development of Little Amal’s 2023-24 journeys which included a 12-week journey from Boston United States to Tapachula on the border of Mexico and Guatemala, and visits to Toronto, Canada and Trondheim, Norway.
Little Amal’s journeys seek to change the narrative surrounding refugees and migrants, towards the contributions and potential they carry within them, including the hope they bring as they build a new life and livelihood, enhancing communities as they do so. By placing Amal in powerful places with high visibility, we challenge the notion that vulnerable, marginalised individuals and communities are to be feared, and instead invite communities to embrace and honour them.
Our intention is that Amal’s journeys encourage advocacy and strengthen awareness, empathy and debate around the global refugee crisis at a time when it is sorely needed.
Along her journey, Amal has visited many refugee and migrant children. Examples in 2022-23 include:
At the Tesco Aid Centre Przemysl in Poland in May 2022, a few kilometers from the border of Ukraine, Amal met
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
Achievements and performance (continued)
recently arrived children, helped volunteers distribute meals and spent time with families.
-
In Stryjskyj Park in Lviv in May 2022, Amal visited a temporary refugee shelter for families that had been built on the edge of the park. She brought gifts for the children and they played together in the park surrounded by local musicians and dancers.
-
In New York City in September 2022, Amal met children and families who had just arrived at the Port Authority Bus Terminal, seeking asylum in the United States.
One of the ways we can measure Amal’s lasting impact is by gathering testimony from participants and audience, including those who have had experience of being a refugee or asylum seeker. Examples of testimonies received in 2022-23 include:
-
“The event raised the profile of important local charities that support local refugees and asylum seekers. We have a large Syrian community in Cheltenham and it was wonderful to see a lot of them there, and for their children to feel so powerfully represented and welcomed by their town.” - Cheltenham Everyman Theatre, UK
-
“Amal’s visit attracts the world’s attention. It helps Ukraine stay on the front pages. This attention is a new chance to end the war. This is a new chance to help Ukrainians.” – Andriy Sadovyi, Mayor of Lviv
-
“Amal reached out to the many isolated neighborhoods and diverse cultural enclaves and communities across the city, giving them a rare opportunity to engage with each other on issues that effect and touch them all.” - Chinese Theater Works, NYC
Another way of assessing Amal’s lasting impact is through the many and frequent requests we receive for her to visit parts of the world where migrants, refugees and asylum seekers are under pressure.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The reserves maintained by the Charity at 31 March 2023 were £6,212. The Charity’s intention for the FY 202324 is to grow and maintain reserves sufficient to cover six months of the operational costs of The Walk Productions Limited which are £227,000.
Structure, governance and management
a. Constitution
Walk to the Horizon Limited is registered as a charitable company limited by guarantee and was set up by a Trust deed.
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(A Company Limited by Guarantee)
WALK TO THE HORIZON LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2023
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
-
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
-
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Nyman Libson Paul LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 28 March 2024 and signed on their behalf by:
Marcus Davey
(Chair of Trustees)
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WALK TO THE HORIZON LIMITED
Opinion
We have audited the financial statements of Walk to the Horizon Limited (the 'charitable company') for the period ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure for the period then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WALK TO THE HORIZON LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' Report for the financial period for which the financial statements are prepared is consistent with the financial statements.
-
the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WALK TO THE HORIZON LIMITED (CONTINUED)
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and Charities Act 2011. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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WALK TO THE HORIZON LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WALK TO THE HORIZON LIMITED (CONTINUED)
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Paul Taiano (Senior Statutory Auditor)
for and on behalf of Nyman Libson Paul LLP
Chartered Accountants Statutory Auditors 124 Finchley Road
London
NW3 5JS
28 March 2024
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 MARCH 2023
| Note Income from: Donations and legacies 3 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward |
Restricted funds 2023 £ 362,931 362,931 362,931 362,931 - - - |
Unrestricted funds 2023 £ 46,299 46,299 40,087 40,087 6,212 6,212 6,212 |
Total funds 2023 £ 409,230 |
|---|---|---|---|
| 409,230 | |||
| 403,018 | |||
| 403,018 | |||
| 6,212 | |||
| 6,212 | |||
| 6,212 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 12 to 18 form part of these financial statements.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 14041921
BALANCE SHEET AS AT 31 MARCH 2023
| Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total net assets Charity funds Restricted funds 10 Unrestricted funds 10 Total funds |
(23,312) | 2023 £ 29,524 6,212 |
|---|---|---|
| 6,212 | ||
| - 6,212 |
||
| 6,212 |
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 145 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 28 March 2024 and signed on their behalf by:
Marcus Davey
(Chair of Trustees)
The notes on pages 12 to 18 form part of these financial statements.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
1. General information
Walk to the Horizon Limited is a charitable company limited by guarentee, and incorporated in England & Wales. The charity was incorporated on 12 April 2022 and began operation on the same day.
The address of the registered office is 50 Sheen Park, Richmond, Surrey, TW9 1UW.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Walk to the Horizon Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
After reviewing the Company's forecasts and projections, at the time of approving these financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements.
2.3 Income
Income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants and donations receivable are recognised in incoming resources in the year which they are received, except as follows:
-
When donors specify that grants or donations given to the charity must be used in a future accounting period the income is deferred until that period.
-
When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions are met.
-
When donors specify that grants or donations, including capital grants, are for particular restricted purposes which do not amount to pre-conditions regarding entitlement, this income is in incoming resources of restricted funds when receivable.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.4 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. The majority of costs are directly attributable to specific activities. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources and estimated amounts attributable to that activity in the year.
Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure
2.5 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.6 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.7 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
2.9 Critical accounting estimates and areas of judgement
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:
The company makes an estimate of accruals at the year end based on work undertaken which has not been invoiced, based on quotations or estimates of amounts that maybe due for payment.
3. Income from donations and legacies
| Donations Grants |
Restricted funds 2023 £ - 362,931 362,931 |
Unrestricted funds 2023 £ 46,299 - 46,299 |
Total funds 2023 £ 46,299 362,931 |
|---|---|---|---|
| 409,230 |
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
4. Analysis of grants
| Grants to | Total | |
|---|---|---|
| Individuals | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Grants payable | 400,000 | 400,000 |
5. Analysis of expenditure on charitable activities
Summary by fund type
| Finance charges Grants payable |
Restricted funds 2023 £ - 362,931 362,931 |
Unrestricted funds 2023 £ 3,018 37,069 40,087 |
Total 2023 £ 3,018 400,000 |
|---|---|---|---|
| 403,018 |
6. Analysis of expenditure by activities
| Finance charges Grants payable |
Activities undertaken directly 2023 £ 18 - 18 |
Grant funding of activities 2023 £ - 400,000 400,000 |
Support costs 2023 £ 3,000 - 3,000 |
Total funds 2023 £ 3,018 400,000 |
|---|---|---|---|---|
| 403,018 |
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
| 7. Auditors' remuneration Fees payable to the Company's auditor for the audit of the Company's annual accounts Fees payable to the Company's auditor in respect of: All non-audit services not included above 8. Trustees' remuneration and expenses During the period, no Trustees received any remuneration or other benefits. During the period ended 31 March 2023, no Trustee expenses have been incurred. 9. Creditors: Amounts falling due within one year Accruals and deferred income |
2023 £ 2,000 1,000 |
|---|---|
| 2023 £ 23,312 |
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
10. Statement of funds
Statement of funds - current period
| Unrestricted funds General funds Restricted funds Little Amal Project Total of funds |
Income £ 46,299 362,931 409,230 |
Expenditure £ (40,087) (362,931) (403,018) |
Balance at 31 March 2023 £ 6,212 |
|---|---|---|---|
| - | |||
| 6,212 |
The Little Amal Project fund was set up to account for donations and grant income from various charitable organisations to be spent on the continued development and organisation of the Little Amal Puppet project.
11. Summary of funds
Summary of funds - current period
| General funds Restricted funds |
Income £ 46,299 362,931 409,230 |
Expenditure £ (40,087) (362,931) (403,018) |
Balance at 31 March 2023 £ 6,212 - |
|---|---|---|---|
| 6,212 |
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WALK TO THE HORIZON LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023
12. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 29,524 (23,312) 6,212 |
Total funds 2023 £ 29,524 (23,312) 6,212 |
|---|---|---|
13. Related party transactions
During the period ended 31 March 2023, a grant of £400,000 in respect of furthering the charity's primary purpose was paid to The Walk Productions Limited, a company over which the charity has significant influence.
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