Go My Son
Charity number 1199422
Accounts
For The Year Ended
31 March 2023
Go My Son
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ annual report | 2 - 4 |
| Independent examiner’s report to the trustees | 5 |
| Statement of financial activities (including income and | 6 |
| expenditure account) | |
| Statement of financial position | 7 |
| Notes to the accounts | 8 - 13 |
Page 1
Go My Son
Legal And Administrative Information
Trustees
A Kirsch C Joseph B Kahan
Charity’s Correspondent Address
49 Mowbray Road Edgware Middlesex HA8 8JL
Details of Formation
The charity is a CIO registered on 23 June 2022 with the charity commission under charity number 1199422
Bankers
NatWest
Independent Examiner
Justin Cowan, FCA Albeck Limited Chartered Accountants 49 Mowbray Road Edgware Middlesex HA8 8JL
Page 2
Go My Son
Trustees’ Annual Report
The trustees present their report and the accounts of the charity for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out on page 8 to 10 and comply with the charity’s trust deed and applicable law.
Legal and administrative information set out on page 1 forms part of this report.
Constitution and Objects of the Charity
The charity is a CIO registered on 23 June 2022 with the charity commission under charity number 1199422.
The charity’s objects are to provide after school activities and outings for teenage children, and such other purposes as are for the public benefit and are charitable according to English law. The trustees must use the income and may use the capital of the charity in promoting the objects.
The trustees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 4 of the Charities Act 2011. The trustees believe that the charity achieves a public benefit through these objectives.
Trustees and Governance
The trustees in office in the period were as follows:
A Kirsch C Joseph B Kahan
The power of appointing a new trustee or trustees hereof shall be vested in a majority in number of the trustees or if there is only one trustee for the time being the provisions of section 36 Trustees Act 1925 shall have affect.
Charity’s Activities and Achievements
During the first year of activities, the trustees rent, decorated and furnished a centre to provide after school activities to teenage children in Edgware. The centre includes pool and table tennis tables and also provides a place for the boys to relax after school. The centre is supervised by a team of volunteers who are present whenever any children are there. The trustees have also arranged several trip and speakers to add variety to the children’s formal school education.
Activities were limited in the first financial period although a larger level of donations and grants received in the next financial period have allowed the trustees to develop activities further.
Investments Policy
The charity has a bank current account. This is the only investment to which the charity has title. The trustees regularly review the Charity’s position and needs in respect of the investment policy.
Page 3
Go My Son
Trustees’ Annual Report (Continued)
Reserves Policy
The charity collects funds to be used on activities for the children. The trustees aim to keep 3-6 months of funds in reserve so that they do not have significant fund-raising pressures.
At the balance sheet date, the charity had 6k.
Grant and Donation Making Policy
The charity does not have a policy of making grants.
Risk Management
The trustees regularly undertake a review of the major risks to which the charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis.
There are two major risks that the trustees have identified, as follows:
Risk Management
(a) Fall in the level of donations
The level of donations is fundamental to the operation of the charity. Given the challenges in the UK economy, the consistency of donations is of major importance. The trustees have tried to mitigate against a fall in the level of donations by encouraging donors to provide their donation by monthly standing order. The trustees are making every effort to increase the number of donors by seeking support from the local community in an attempt to reduce their current reliance on a few key donors. The trustees also make every effort to keep in regular contact with their donors so that they are kept informed of the difference that their contributions are making.
- (b) Misappropriation of funds
The control of funds is key to any charity. All bank statements are reviewed regularly by the trustees. The trustees are also confident that the independent examination will assist in identifying any misappropriation.
Trustees’ Responsibilities in Relation to the Accounts
Law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial period, which give a true and fair view of the state of the charity’s financial activities during the period and of its financial position at the end of the period.
Page 4
Go My Son
Trustees’ Annual Report (Continued)
Trustees’ Responsibilities in Relation to the Accounts (continued)
In preparing those accounts, the trustees are required to:
-
a. select suitable accounting policies and then apply them consistently;
-
b. make judgments and estimates that are reasonable and prudent;
-
c. follow applicable UK accounting standards and the Statement of Recommended Practice, subject to any departures disclosed and explained in the accounts;
-
d. prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed by their order.
A Kirsch
Trustee
19 March 2024
Page 5
Independent Examiner’s Report
to the Trustees of
Go My Son
for the Year Ended 31 March 2023
I report to the trustees on my examination of the financial statements of the Go My Son (‘the charity’) for the year ended 31 March 2023.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Responsibilities and basis of the report
As the trustees of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the 2011 Act’).
I report in respect of my examination of the charity’s accounts as carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Justin Cowan, FCA
Albeck Limited Chartered Accountants 49 Mowbray Road Edgware Middlesex HA8 8JL
19 March 2024
Page 6
Go My Son
Statement of Financial Activities
for the Year Ended 31 March 2023
| Note | 2023 | |
|---|---|---|
| Unrestricted and | ||
| Total Funds | ||
| £ | ||
| Incoming resources | ||
| Donations and legacies received | (2) | 8,306 |
| Other income | (3) | - |
| _____ | ||
| Total incoming resources | (13) | 8,360 |
| _____ | ||
| Resources expended | ||
| Costs of generating funds | ||
| Costs of generating voluntary income | ||
| Costs of raising donations | (4) | - |
| - | ||
| _____ | ||
| Charitable expenditure | ||
| Expenditure on charitable activities | (7) | (2,760) |
| _____ | ||
| Total resources expended | (13) | (2,760) |
| _____ | ||
| Net movement in funds | 5,546 | |
| Total funds brought forward | - | |
| Total funds carried forward | (13) | £5,546 |
| ==== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 13 form part of these accounts.
Page 7
Go My Son
Balance Sheet
as at 31 March 2023
| Note Fixed assets Tangible fixed assets (9) Current Assets Debtors (10) Cash at bank and in hand (11) Creditors:Amounts falling due within one year (12) Net current assets Net assets (13) Income funds Unrestricted funds (13) |
_ | 2023 £ 3,833 _____ - 1,713 |
|---|---|---|
1,713 - 1,713 _____ £ 5,546 ===== £ 5,546 ===== |
1,713 - |
These accounts were approved on 19 March 2024 and signed on behalf of the trustees.
____ A Kirsch Trustee
The notes on pages 8 to 13 form part of these accounts.
Page 8
Go My Son
Notes to the Accounts - 31 March 2023
1. Accounting Policies
a. Basis of Accounting
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
b. Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.
c. Going concern
There are no material uncertainties about the charity's ability to continue.
d. Judgements and key sources of estimation uncertainty
In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
e. Fund accounting
General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity. All of the charities’ funds are unrestricted.
Restricted funds are funds subject to specific restricted conditions imposed by donors.
Designated funds are funds which have been set aside at the discretion of the Trustees for specific purposes.
Page 9
Go My Son
Notes to the Accounts - 31 March 2023 (continued)
f. Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.
The following specific policies are applied to particular categories of income: (a) income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount can be measured reliably.
(b) legacy income is recognised when receipt is probable, and entitlement is established.
g. Resources expended
Expenditure is charged on an accrual basis and allocated to the appropriate headings in the accounts.
The majority of costs are directly attributable to specific activities. Costs incurred in respect of the charitable activities include elements of staff costs and attributable support costs
h. Support costs
Support costs are those costs which are common to all areas of the organisation. These are allocated across all areas of activity on the basis of the number of service users for each activity.
i. Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity. These costs include independent examination, legal advice for Trustees and costs associated with meeting constitutional and statutory requirements such as the cost of Trustee meetings and the preparation of the statutory accounts.
j. Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
k. Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment – 33% reducing balance
Page 10
Go My Son
Notes to the Accounts - 31 March 2023 (continued)
l. Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
m.
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.
2. Donations Received
| 2023 | ||
|---|---|---|
| £ | ||
| Voluntary income | £8,306 | |
| ===== | ||
| 3. | Other income | |
| Other income | £ - | |
| ===== | ||
| 4. | Costs of generating funds | |
| Fundraising costs | £ - | |
| ===== |
Page 11
Go My Son
Notes to the Accounts - 31 March 2023 (continued)
| 5. Expenditure on Charitable Activities by Fund Type Provision of after school activities Support costs |
2023 £ 2,760 - |
|---|---|
| £2,760 ===== |
- Expenditure on Charitable Activities by Activity Type
| Activities | Grant | ||||
|---|---|---|---|---|---|
| undertaken | funding | of | Support | Total funds | |
| directly | activities | Costs | 2023 | ||
| Provision of after school | |||||
| activities | 2,760 | - | - | 2,760 | |
| Governance costs | - | - | - | - | |
| £2,760 | £ | - | £ - | £2,760 | |
| ==== | ===== | ==== | ==== |
| 7. | Expenditure on charitable activities | |
|---|---|---|
| 2023 | ||
| £ | ||
| Expenditure on charitable activities includes | ||
| Depreciation | 1,917 | |
| Independent examination fees | - | |
| ===== |
8. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
Wages and salaries
£ -
=====
The average head count of employees during the year was Nil. No employee received employment benefits of more than £60,000 in the year.
Page 12
Go My Son
Notes to the Accounts - 31 March 2023 (continued)
9. Tangible Fixed assets
| Equipment | ||
|---|---|---|
| Cost | ||
| At 1 April 2022 | - | |
| Additions | 5,750 | |
| At 31 March 2023 | 5,750 | |
| _____ | ||
| Depreciation | ||
| At 1 April 2022 | - | |
| Charge for the Year | 1,917 | |
| At 31 March 2023 | 1,917 | |
| _____ | ||
| Net Book Value | ||
| At 31 March 2023 | £3,833 | |
| ==== | ||
| 10 | Debtors | 2023 |
| £ | ||
| Other debtors | £ - | |
| ==== | ||
| 11 | Cash and cash equivalents | |
| Current accounts | 1,713 | |
| Petty cash | - | |
| £1,713 | ||
| ==== |
Page 13
Go My Son
Notes to the Accounts - 31 March 2023 (continued)
| 12. | Creditors:Amounts falling due within | Creditors:Amounts falling due within | one | ||||
|---|---|---|---|---|---|---|---|
| year | |||||||
| 2023 | |||||||
| £ | |||||||
| Other creditors | £ | - | |||||
| ==== | |||||||
| 13. | Statement of funds | ||||||
| At 1 April | At 31 March | ||||||
| 2022 | Income | Expenditure | 2023 | ||||
| £ | £ | £ | £ | ||||
| Unrestricted Funds | |||||||
| General Reserve | £ - | £ | 8,306 | £ (2,760) | £ 5,546 | ||
| ==== | ===== | ===== | ===== | ||||
| 14. | Analysis of Net assets between funds | 2023 | |||||
| £ | |||||||
| Tangible fixed assets | 3,833 | ||||||
| Current assets | 1,713 | ||||||
| Creditors due in less than one year | - | ||||||
| Creditors due after more than one year | - | ||||||
| At 31 March 2023 | £ 5,546 | ||||||
| ===== |
- Trustee Expenses
No expenses were paid to the trustees during the period.