AURCURA Aurora Foundation Prepared by:
Table of Contents
About our Annual Report 3 Report from the Trustees 5 Accountants Report 6 Statement of Financial Position 7 Statement of Activities 8 Statement of Cash flows 9 Notes to the Financial Statements 10
About our Annual Report
Structure, Governance and Management
Aurora Foundation is a charitable trust registered in England and Wales. The charity is governed by its trust deed, which defines its charitable objects and governance framework. Trustees are appointed in accordance with the governing document and are responsible for setting strategy, overseeing finances, and ensuring compliance with charity law.
Day-to-day operational matters are delegated to senior personnel under the supervision of the trustees.
Objectives and Activities
The charity’s objectives are to advance charitable and educational purposes in accordance with its governing document. During the year, the charity pursued these objects primarily through fundraising activities and the making of grants to charitable beneficiaries.
In planning activities, the trustees have had due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
During the year ended 31 December 2022, the charity undertook significant fundraising activities and awarded grants to a number of charitable causes. Trustees consider that these activities furthered the charity’s objectives, notwithstanding the financial deficit incurred in the year.
Financial Review
Total income for the year amounted to £3,384,898. Total expenditure was £4,028,289, resulting in a deficit of £643,391. The deficit primarily reflects substantial one-off fundraising and event-related costs incurred in establishing the charity’s activities.
Reserves policy: The trustees aim to maintain sufficient reserves to meet short-term obligations. At the year end, the charity reported net liabilities of £643,391. Trustees are satisfied that ongoing donor support will enable the charity to meet its obligations.
Going concern: The trustees consider the charity to be a going concern for at least 12 months from the date of approval of these accounts.
Plans for Future Periods
The trustees plan to continue fundraising activities, expand grant-making aligned with the charity’s objectives, and strengthen financial controls and governance procedures.
Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and financial statements in accordance with applicable law and the Charities SORP (FRS 102).
Aurora Foundation | Annual Report - 31 December 2022
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About our Annual Report
Reporting period
This Annual Report provides material information relating to our business model, operating context, stakeholder interests, performance and prospects covering the operating year of 01 January 2022 to 31 December 2022 with comparative figures.
Country of incorporation United Kingdom
Entity registration number 1199325
Nature of business and principal activities Charitable/educational trust or foundation operation
Registered office
Street Address: 100 LIVERPOOL STREET City: London Postal Code: EC2M 2RH
Level of assurance No Assurance
Aurora Foundation | Annual Report - 31 December 2022
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Report from the Trustees
Introduction
The Trustees are pleased to present the Annual Report including the annual financial statements for the year ended 30 December 2022. The entity is engaged in in United Kingdom. The entity’s business and operations and the results thereof are clearly reflected in this Annual Report.
Statement and responsibility
The Trustees are responsible for the maintenance of adequate accounting records, the preparation and the integrity of the annual financial statements and all related information.
The Trustees are also responsible for the entity’s system of internal financial controls. These are designed to provide reasonable - but not absolute - assurance as to the reliability of the annual financial statements and adequately safeguard, verify and maintain accountability of assets.
The annual financial statements are prepared on a going-concern basis as the Trustees have every reason to believe that the entity has adequate resources in place to continue in operation for the foreseeable future.
Events after the reporting period
There are no facts or circumstances of a material nature that have occurred between the accounting date and the date of this report.
Approval
The Annual Report was approved by the Trustees.
Aurora Foundation | Annual Report - 31 December 2022
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Accountants Report
No Assurance
In the preparation of this Annual Report, we have relied upon the unaudited financial and non-financial information available for the entity. We have applied our expertise in accounting and financial reporting to assist in the preparation and presentation of these annual financial statements. We do not express an opinion or any other form of assurance on the accuracy of the information presented.
Aurora Foundation | Annual Report - 31 December 2022
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Statement of Financial Position
01 January 2022 - 31 December 2022 vs 01 January 2021 - 31 December 2021
No Assurance - See Accountant's Report
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Notes FY 2022 FY 2021
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| Notes FY2022 FY2021 |
||
|---|---|---|
| Assets | ||
| CurrentAssets | ||
| AIG Euro account | - - (£20,172) |
|
| Alpha Dollar | - £351,263 - |
|
| Alpha Euro ac | - £106,890 - |
|
| Alpha GBP | - £3,302 - |
|
| cafusa | - £361,006 - |
|
| FO Euro | - - (£19,123) |
|
| Prepayments | - £600 - |
|
| Total Current Assets | - £823,060 (£39,295) |
|
| Non-Current Assets | ||
| OfficeEquipment | - £1,569 - |
|
| Total Non-Current Assets | - £1,569 - |
|
| Total Assets | - £824,629 (£39,295) |
|
| Liabilities | ||
| CurrentLiabilities | ||
| AccountsPayable | - £1,086,116 (£39,295) |
|
| Accruals | - £200,000 - |
|
| NICPayable | - £12,400 - |
|
| PAYEPayable | - £24,832 - |
|
| Rounding | - (£0) - |
|
| VAT | - (£1,418) - |
|
| Total Current Liabilities | - £1,321,931 (£39,295) |
|
| Non-Current Liabilities | ||
| Deferred Income Grant 2023 | - £146,089 - |
|
| Total Non-Current Liabilities | - £146,089 - |
|
| Total Liabilities | - £1,468,020 (£39,295) |
|
| Net Assets | - (£643,391) - |
|
| Owners Equity | ||
| Movement in Net Assets | - (£643,391) - |
|
| Total Owners Equity | - (£643,391) - |
For the financial year ended 30 April 2023, the foundation was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. These financial statements have been prepared in accordance with the Charities SORP (FRS 102 – 2019).
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Board of Trustees.
Aurora Foundation | Annual Report - 31 December 2022
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Statement of Activities
01 January 2022 - 31 December 2022 vs 01 January 2021 - 31 December 2021
No Assurance - See Accountant's Report
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Notes FY 2022 FY 2021
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| Notes | FY2022 | FY2021 | |
|---|---|---|---|
| Income and Gains | |||
| 2022 Event - Donations | - | £852,048 | - |
| 2022 Event Sponsorship | - | £1,153,472 | - |
| Donations from Founders | - | £1,379,413 | - |
| Other Revenue | - | (£35) | - |
| Total Income and Gains | - | £3,384,898 | - |
| Expenses | |||
| Accountancy - NHG - monthly | - | £4,703 | - |
| Accountancy fees Macintyre Hayes 2022 | - | £4,620 | - |
| Advertising & Marketing | - | £10,632 | - |
| Bank Revaluations* | - | £8,136 | (£540) |
| CAFPayments | - | £28,853 | - |
| Consulting | - | £24,178 | - |
| Employers National Insurance | - | £9,312 | - |
| Grants - Adam Gazzaley | - | £43,040 | - |
| Grants - Kevin Love | - | £215,200 | - |
| Grants -Giannis | - | £215,200 | - |
| Grants -Klitschko Foundation | - | £34,432 | - |
| Insurance | - | £2,489 | - |
| IT Software and Consumables | - | £207 | - |
| Legal Fees | - | £220,267 | - |
| NFT - other | - | £111,523 | - |
| NFT- Nathan Copeland | - | £21,233 | - |
| Realised Currency Gains | - | £121,815 | (£578) |
| Salaries | - | £70,136 | - |
| St tropez - Pr costs | - | £18,180 | - |
| St tropez - Hotel costs | - | £60,728 | - |
| St Tropez entertainment | - | £150,104 | - |
| St Tropez Limos and taxi and flights | - | £70,296 | - |
| St Tropez OBO | - | £2,410,209 | - |
| St Tropez production costs | - | £135,555 | - |
| Staff Training | - | £1,058 | - |
| Telephone & Internet | - | £147 | - |
| Travel and Susbsistence | - | £18,510 | - |
| Unrealised Currency Gains* | - | (£19,260) | £1,118 |
| Website creation and maintenance | - | £36,747 | - |
| Xero cost | - | £35 | - |
| TotalExpenses | - | £4,028,289 | - |
| Surplus/Deficit | - | (£643,391) | - |
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Aurora Foundation | Annual Report - 31 December 2022
Statement of Cash flows
01 January 2022 - 31 December 2022 vs 01 January 2021 - 31 December 2021
No Assurance - See Accountant's Report
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Notes FY 2022 FY 2021
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| Notes FY2022 |
FY2021 | |||
|---|---|---|---|---|
| Total Income and Gains for the year | (£643,391) | £- | ||
| Net cash inflow from operating activities | ||||
| Decrease/(Increase) in receivables | (361,606) | |||
| Increase/(Decrease in payables | 1,428,725. | 39,295 | ||
| Net cash (used in) / generated from operating activities | 423,728. | 39,295 | ||
| Net cash inflow from investing activities | ||||
| Acquisition of Fixed Assets | (1,568) | |||
| Net cash inflow from investing activities | (1,568) | |||
| Net movement in cash and cash equivalent | 422,160. | 39,295 | ||
| Cash and cash equivalents at the beginning of year | 39,295. | - | ||
| Cash and cash equivalents at the end of year | £461,455. | £39,295 |
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Aurora Foundation | Annual Report - 31 December 2022
Notes to the Financial Statements
01 January 2022 - 31 December 2022 vs 01 January 2021 - 31 December 2021
No Assurance - See Accountant's Report
Accounting Policies
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) and under the historical cost convention.
Fund Accounting
All funds held by the charity during the year were unrestricted funds. Except for balances with CAF America.
Trustee Remuneration
No trustees received remuneration or reimbursed expenses during the year.
Staff Costs
Staff costs for the year amounted to £70,136 (2021: £nil).
Related Party Transactions
Donations received from founders during the year totaled £1,379,413. The trustees consider these transactions to have been conducted on normal commercial terms.
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Aurora Foundation | Annual Report - 31 December 2022