DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **CHARITY REGISTRATION NUMBER: 1199732**
## **GIVING EXTRA**
## **UNAUDITED FINANCIAL STATEMENTS**
**31 MARCH 2023**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **FINANCIAL STATEMENTS**
## **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
||**PAGES**|
|---|---|
|Trustees' Annual Report|**1 to 2**|
|Statement of Financial Activities|**3**|
|Statement of Financial Position|**4**|
|Notes to the Financial Statements|**5 to 7**|
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
# **GIVING EXTRA**
## **TRUSTEES' ANNUAL REPORT**
# **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
The trustees present their report and the unaudited financial statements of the Charity for the period ended 31 March 2023.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name** Giving Extra **Charity registration number** 1199732 **Principal office** Sutherland House 70-78 West Hendon Broadway London NW9 7BT **THE TRUSTEES** Mr D Bude (Appointed 20 July 2022) Mr E Perlstein (Appointed 20 July 2022) Mr A Bude (Appointed 20 July 2022) **ACCOUNTANTS** Cohen Arnold New Burlington House 1075 Finchley Road London NW11 0PU
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Foundation Charitable Incorporated Organisation was established by its Constitution dated 20 July 2022 and is registered with the Charity Commission (Registration no. 1199732).
The Trustees administer the day-to-day affairs of the Charity. None of the Trustees have any beneficial interest in the Charity.
The Charity is currently reviewing the makeup of the board of Trustees with the intention of considering the appointment of new members of the board. The Charity will apply a suitable recruitment process and selection criteria and any future Trustees will be subject to induction training.
## **OBJECTIVES AND ACTIVITIES**
The Charity was extablished on 20 July 2022 with the purpose of advancing charitable causes in both the UK and abroad as recognised as charitable by English law. The Charity was established to receive income by way of charitable donations from individual and corporate donors and to apply these funds to make donations to charitable organisations. The Charity is currently in its initial formation period and is currently establishing the systems and procedures to undertake its intended activity.
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
## **ACHIEVEMENTS AND PERFORMANCE**
During the period, the Charity was not active. Expenses were incurred to set up the charity in the period to 31 March 2023.
**- 1 -**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **TRUSTEES' ANNUAL REPORT** _**(continued)**_
## **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
## **ACHIEVEMENTS AND PERFORMANCE** _**(continued)**_
## **INVESTMENT POWERS & POLICY**
Under the Constitution, the Charity has the power to make any investment which the Trustees see fit. The trustees regularly review the Charity's position and needs in respect of the investment policy.
The Charity at present does not seek to make further investments as all funds are required to be available in order for the Charity to continue its above described activities.
## **FINANCIAL REVIEW**
The financial results of the Charity's activities for the period ended 31 March 2023 are fully reflected in the attached Financial Statements together with the Notes thereon.
Notwithstanding the deficiency in net current assets, the trustees have concluded that it is appropriate for the financial statements to be prepared in accordance with the accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
## **Reserve policy**
It is the policy of the Charity to maintain unrestricted funds, which include the free reserves of the Charity, at a level which the Trustees think appropriate after considering the future commitments of the Charity and the likely costs of the Charity for the next year. The Trustees have not undertaken any formal charitable commitments and consider that the Charity will generate sufficient income from donations to fund its ongoing activities.
As at 31 March 2023 the Charity has a deficiency in total funds and free reserves as stated in its financial statements. The Trustees are satisfied that further donations will be received in due course enabling them to continue with their charitable work into the future.
## **RISK MANAGEMENT**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those to the operations and finances of the Charity, and are satisfied with the systems in place to mitigate its exposure to those risks.
## **PLANS FOR FUTURE PERIODS**
The Trustees plan to continue to make distributions in accordance with their grant making policy and to ensure that an appropriate level of reserves is maintained.
The trustees' annual report was approved on 26 January 2024 and signed on behalf of the board of trustees by:
Mr D Bude Trustee
**- 2 -**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
|||**Period from**|**20 Jul 22 to**|
|---|---|---|---|
|||**31 Mar 23**||
|||Unrestricted||
|||funds|**Total funds**|
||**Note**|**£**|**£**|
|**Expenditure**||||
|Expenditure on charitable activities|**4,5**|(21,278)|**(21,278)**|
|||``|``|
|**Total expenditure**||(21,278)|**(21,278)**|
|||``|``|
|||``|``|
|**Net expenditure and net movement in funds**||(21,278)|**(21,278)**|
|||``|``|
|**Reconciliation of funds**||||
|Total funds brought forward||–|**–**|
|||``|``|
|**Total funds carried forward**||(21,278)
``|**(21,278)**
``|
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 5 to 7 form part of these financial statements.**
**- 3 -**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **STATEMENT OF FINANCIAL POSITION**
## **31 MARCH 2023**
|**31 MARCH 2023**||||
|---|---|---|---|
||||**31 Mar 23**|
||**Note**|**£**|**£**|
|**CREDITORS: amounts falling due within one year**|**8**|**(21,278)**||
|||``||
|**NET CURRENT LIABILITIES**|||**(21,278)**|
||||``|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|||**(21,278)**|
||||``|
|**NET LIABILITIES**|||**(21,278)**|
||||``|
|**FUNDS OF THE CHARITY**||||
|Unrestricted funds|||**(21,278)**|
||||``|
|**Total charity funds**|**9**||**(21,278)**
``|
These financial statements were approved by the board of trustees and authorised for issue on 26 Jan 24, and are signed on behalf of the board by:
Mr D Bude Trustee
**The notes on pages 5 to 7 form part of these financial statements.**
**- 4 -**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
## **1. GENERAL INFORMATION**
The Charity is a public benefit entity and a registered charity in England and Wales and is a Foundation Charitable Incorporated Organisation. The address of the principal office is Sutherland House, 70-78 West Hendon Broadway, London, NW9 7BT.
## **2. STATEMENT OF COMPLIANCE**
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.
## **3. ACCOUNTING POLICIES**
## **Basis of preparation**
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The accounting policies set out below have, unless otherwise stated, been applied consistently to all periods presented in these financial statements.
There are no judgements made by the trustees in the application of these accounting policies that have significant effect on the financial statements nor any estimates with a significant risk of material adjustment in the next year.
## **Going concern**
Notwithstanding the deficiency in net current assets, the trustees have concluded that it is appropriate for the financial statements to be prepared in accordance with the accounting principles appropriate to a going concern, as the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
## **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.
## **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.
## **Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to to charitable activities.
**- 5 -**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_
## **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
## **3. ACCOUNTING POLICIES** _**(continued)**_
## **Resources expended** _**(continued)**_
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apprortioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Grants payable**
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remains in the control of the Charity.
## **Support costs**
Support costs are those costs which are common to all areas of the organisation.
## **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 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.
## **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.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
## **4. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE**
||Unrestricted|**Total Funds**|
|---|---|---|
||Funds|**2023**|
||£|**£**|
|Support costs|21,278|**21,278**|
||``|``|
|**EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE**|||
|||**Total funds**|
||Support costs|**2023**|
||£|**£**|
|Governance costs|21,278|**21,278**|
||``|``|
## **5. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE**
## **6. STAFF NUMBERS**
The average head count of employees during the period was nil.
**- 6 -**
DocuSign Envelope ID: 7DB4141A-8C3E-4A27-8CE4-9302B20028CD
## **GIVING EXTRA**
## **NOTES TO THE FINANCIAL STATEMENTS** _**(continued)**_
## **PERIOD FROM 20 JULY 2022 TO 31 MARCH 2023**
## **7. TRUSTEE REMUNERATION AND EXPENSES**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred.
## **8. CREDITORS: amounts falling due within one year**
|**CREDITORS:** **amounts falling due within one year**||
|---|---|
||**31 Mar 23**|
||**£**|
|Accruals and deferred income|**1,440**|
|Other creditors|**19,838**|
||``|
||**21,278**|
||``|
Other creditors comprises amounts owed to Giving More Online Limited, a company with directors in common with certain Trustees of the Charity. This management balance is interest free and repayable on demand.
## **9. ANALYSIS OF CHARITABLE FUNDS**
## **Unrestricted funds**
||||At|||**At**|
|---|---|---|---|---|---|---|
||20|July|2022|Expenditure|**31**|**March 2023**|
||||£|£||**£**|
|General funds|||–
``|(21,278)
``||**(21,278)**
``|
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