2023-04-05-accounts

CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Sèctlon A Ind•p•nd•nl •Narnln•f'• Il•port Report to Ihe IriiJ¢eo m•rnb•r4 of On •ccounts for th• y•ar Chsrlty no Ilf any) S ¥)￿1 I IOQ? 114q636 3•t out on p•9•8 I report lo the tru￿e88 on my ex8minatson of the accounts of tho ab charlty llhe Trust-) for tho year ended R•spon$lbllltlos ar￿ As charity trustees, you are responsible for preparation of the b•sl¥ of r•port accounts in accordance with the Charrties Act 2011 ('the Acf). I report in respect of my examination ol the Trusfs accourrts Can￿ out under seclion 145 of the 2011 Act and in carrying out my examinats'on. I have followed all the applicable Directions gNen by the Charity Commission under section 145(Sllb) of the AIX. Independent rrhe charty's gross inc￿ne exceeded £250,000 and l am qualthed to examlnerfs Statement undertake the examination by being a qualified member of [insert name of applicable listed bodyll. I have completed my examination. I confimi that no maten matters have come to my attention (other than that disclosed below ") in connection with the examination which gNes me cause to believe that in. any matenal the accountirKJ rec(Kds were not kept in aCc￿rdanCe section 130 of the Ad, or the accounts did nol accord wilh Ihe accounting records". or the accounts did not compty wrth the applicable reQui￿rnents concerning the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any rèauirement that the accounts give a Irue and fair, wew which is not a matter considered as part of an independent examinatson. I have no cor)wns and have come across no other matteTS in connecii wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ' Ple8se (klete the words in the brackets rfthey (*} not apply. Date: Name: Ivc Relevant professlonal quallfication(s) or body (if any): IER OGtober 2018

Addr￿". Sl. ll Section Ol¥clo8iire Onty coniplol• rf th8 •Mmin•r n8eAl# lo highlighl matters of concern Isee CC32. lrnl•p•ndonl •x•minatlon of ch•rty •ccount•. diiections and guidance for •x•mln•rs). Glve hw• d•t•ll¥ ol •ny Items that exmln•r wtsh•s to dl•cl¢)•• IER October 2018

The ASAMAA Charitable Trust

Registered with the Charity Commission, Reg No. 1199636

Accounts for the year ended 5 April 2023

Report of the chair of trustees

The charity was created in March 2017 as a vehicle for charitable giving by the founding trustees and has from that date been recognised as a charity for tax purposes.

Its main areas of interest are cancer support, community services, classical music, Chislehurst-based organisations, animal welfare and education.

In previous years the Trust has made modest donations and grants to charities within its main areas of interest. During the course of 2022 an opportunity arose to purchase a property in Ilkley, Yorkshire, to provide a home for young men with learning difficulties, with care and support to enable them to develop more skills for independent living. Care and support will be provided by Carers and Companions, an organisation based in Ilkley and owned by Ilkley Community Enterprise, a registered charity.

Given the scale of the investment and its long-term nature, three new trustees were recruited, and the trust was registered for the first time with the Charity Commission.

At 5 April 2023 the trustees of the charity were:

Anthony Allen (founding trustee and chair) Marion Allen (founding trustee) Zoe Dooley (appointed May 2022) Joanna Friel (appointed May 2022) Anthony Wiffen (appointed May 2022)

Anthony Allen Chair of trustees 20 September 2023

The ASAMAA Charitable Trust

The ASAMAA Charitable Trust

Statement of financial activities Year ended 5 April 2023

The ASAMAA Charitable Trust Statement of financial activities Year ended 5 April 2023
Notes Incoming Resources Donations 2 Gift Aid reclaimable Interest received Resources expended Charitable activities 3 Fees and expenses 4 Net income Funds brought forward Funds carried forward	2023 2022 £491,634 £10,026 127,941 0 42 0
	619,617 10,026
	13,200 36,438 3,402 -31
	16,602 36,407
	603,015 -26,381 11,508 37,889
	£614,523 £11,508

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The ASAMAA Charitable Trust

The ASAMAA Charitable Trust

Balance Sheet 5 April 2023

The ASAMAA Charitable Trust Balance Sheet 5 April 2023
Notes Fixed Assets 5 Current Assets: Cash Debtors 2 Total current assets Total assets Less creditors 6 Net Assets	2023 2022 £487,259 £0 437,972 11,508 127,941 0
	565,913 11,508
	1,053,172 11,508 438,649 0
	£614,523 £11,508

The notes on pages 4-6 form a part of these accounts.

Accounts approved by the trustees, and signed by the chair of trustees

Anthony Allen 20 September 2023

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The ASAMAA Charitable Trust

Notes to the accounts

Note 1. Accounting policies

1.1 Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with:

• the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014

• and with the Charities Act 2011.

1.2. Going Concern

There are no uncertainties related to events or conditions that cast doubt on the charity's ability to continue as a going concern.

1.3 Income

1.3.1 Recognition of income

Income is included in the Statement of Financial Activities when:

• the charity becomes entitled to the resources;

• it is more likely than not that the trustees will receive the resources; and

• the monetary value can be measured with sufficient reliability.

1.3.2 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

1.3.3 Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

1.3.4 Government grants

The charity has received no government grants in the reporting period

1.3.5 Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor specified otherwise.

1.3.6 Support costs

The charity has incurred no expenditure on support costs.

1.3.7 Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

1.4 Expenditure and Liabilities

1.4.1 Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

1.4.2 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts

1.4.3 Provisions for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date

1.5 Assets

1.5.1 Property

Property purchased for use by charity is valued at cost, less any impairment, which will be reviewed every three years. No depreciation is applied to property.

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The ASAMAA Charitable Trust

1.5.2 Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Note 2. Analysis of Income

2.1 Donations

All donations were made by the founding trustees. These include costs disbursed by them on behalf

of the charity of £2,556 related to the purchase of the Ilkley property, being:

Legal Fees, £1,606 Advance on purchase legal fees, £350 Survey costs £600

2.2 Gift Aid recoverable, £127,941

A prior year adjustment of £5,033 is included for gift aid claims in respect of donations in:

2021 – 25% on £10,108 – £2,527

2022 – 25% on 10,026 - £2,506

Gift aid repayments will be claimed in respect of donations in 2023 – 25% on £491,634 - £122,980

Note 3. Charitable Activities

Grants made to institutions during the year

Names of institution	Purpose	Total amount of grants
Ilkley Community Enterprise	Supporting learning	£10,000
	disability
Friends of Scadbury Park	Chislehurst based	100
	environment
English National Opera	Education	1,500
Lee Grove Club	Supporting learning	1,600
	disability
Total grants to institutions during the year		£13,200

Last year:

13.3 Analysis of grants paid (included in cost of charitable activities)

Analysis	Institutions		Individuals	Total
Classical Music	£24,600			£24,600
Education	5,000	-		5,000
Cancer Support	1,000	-		1,000
Animal Welfare	1,500			1,500
Chislehurst Based environment	4,338	-		4,338
Total	£36,438	-		£36,438

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The ASAMAA Charitable Trust

4. Fees and expenses

Independent examiner’s fees Transaction fees Fund management fees Legal Fees Total . Purchase of fxed assets Purchase of 9 Regent Road, Ilkley Purchase Price Costs of purchase Legal Search etc Survey Total cost of purchase	This year Last year £840 £0 60 0 896 31 1,606 0 £3,402 £31 £485,000 1,182 477 600 2,259
	£487,259

5. Purchase of fixed assets

This property was purchased to be used as accommodation for selected individuals with severe learning difficulties to develop skills to enable them to lead more independent lives Exchange took place on 5 April Deposit paid, 5 April 48,500 Accrual for payment due on completion, 5 May £438,759

6. Creditors

. Creditors
	This year	Last year
Independent examiner fees	£840	£0
Completion payment on purchase of 9 Regent Road (paid 5	438,759
May 2023)
Total	£438,649	£ 0

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