THE PETERS FAMILY FOUNDATION CIO
Trustees’ Report and Unaudited Financial Statements
For the period ended 30 June 2023
Charity Number 1199470
The Peters Family Foundation CIO
Legal and administrative information
Trustees: Jean Peters Helene Peters Stefan Schaefers Thomas Schmidt
Charity Number: 1199470 Registered office: Nightingale House 46-48 East Street EPSOM Surrey KT17 1HQ
Trustees’ Report
The Peters Family Foundation CIO was established as a charitable incorporated organisation (“CIO”) and registered at the Charity Commission on 28 June 2022. The CIO is governed by the Board of Trustees who are responsible for the governance and the strategic direction of the organisation. The CIO commenced trading in June 2023 and hence this is the first reporting period.
Review of activities
The CIO received one donation during the period. After the period end it became fully active.
Public Benefit
The Trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the CIO’s aims and objectives and in planning future activities.
Reserves Policy
The Reserves Policy will be established by the Board for the second reporting period, when the CIO is fully active.
Trustee Appointment and Induction
Trustees are appointed by a resolution to be passed at a duly convened meeting of the Trustees. New Trustees are briefed on their legal obligations under charity law, the content of the governing document, decision making processes and the recent performance of the CIO.
Statement of Trustees’ responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Observe the methods and principles in the Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements, and
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Prepare the financial statements on the going concern basis and in accordance with applicable accounting standards.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Account and Reports) Regulations 2008 and the provisions of the governing document. 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.
On behalf of the Board Jean Peters, Trustee 10 May 2024
The Peters Family Foundation CIO Statement of Financial Activities for the period ended 30 June 2023
| Notes Income and endowments from: Raising funds Donations and grants Total income Expenditure on: Raising funds Donations and legacies Total expenditure Net income / (expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
2023 Total funds £ 1,000 1,000 5 5 995 995 0 995 |
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|---|---|---|
All amounts relate to continuing activities. All amounts are unrestricted.
There are no recognised gains or losses other than the results for the period. The notes form part of these financial statements.
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The Peters Family Foundation CIO Balance Sheet
as at 30 June 2023
| Notes Current Assets Debtors Cash at bank and in hand Total current assets Current Liabilities Creditors: Amounts falling due within one year Net current liabilities Total net assets The funds of the Charity: Unrestricted funds 1 Total charity funds |
2023 £ - 995 995 - 995 995 995 995 |
|---|---|
The notes form part of these financial statements.
These financial statements were approved by the Board and signed on their behalf by:
Jean Peters Trustee 10 May 2024
The Peters Family Foundation CIO
Notes to the financial statements for the period ended 30 June 2023
Accounting policies
1. General information
The Peters Family Foundation CIO is a Charitable Incorporated Organisation ("CIO") incorporated in England and Wales on 28 June 2022. This is the first reporting period of the CIO, from 28 June 2022 to 30 June 2023. The address of the registered office is disclosed on the company information page. The members of the CIO are the Trustees named on page 1. The functional and presentation currency of the CIO is GBP.
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. The Peters Family Foundation CIO 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. All funds are unrestricted.
2.2 Income
All income is recognised once the CIO has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
2.4 Financial instruments
The CIO 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.
3. Trustees' remuneration and expenses
During the period, no Trustees received any remuneration or other benefits.
The Peters Family Foundation CIO Notes to the financial statements for the period ended 30 June 2023
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|||||
|---|---|---|---|
|1|Movements in funds|
|2023|2023|2023|
|£|£|£|
|Unrestricted|Restricted|Total|
|Funds balance at 28 June 2022|-|-|-|
|Net incoming / (outgoing) resources|995|-|995|
|Funds balance at 30 June 2023|995|-|995|
|Analysis of net assets between funds|
|Fund balances at 30 June 2023 are represented by:|
|2023|2023|2023|
|£|£|£|
|Unrestricted|Restricted|Total|
|Current assets|995|-|995|
|Current liabilities|-|-|-|
|Total net assets|995|-|995|
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