Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
CHARITY REGISTRATION NUMBER: 1199732
GIVING EXTRA
UNAUDITED FINANCIAL STATEMENTS
31 MARCH 2024
Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
| PAGES | |
|---|---|
| Trustees' Annual Report | 1 to 2 |
| Statement of Financial Activities | 3 |
| Statement of Financial Position | 4 |
| Notes to the Financial Statements | 5 to 9 |
Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
The trustees present their report and the unaudited financial statements of the Charity for the year ended 31 March 2024.
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 Mr E Perlstein Mr A Bude ACCOUNTANTS Cohen Arnold Independent Examiner 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.
It is not currently the intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment training and induction procedures.
OBJECTIVES AND ACTIVITIES
The Charity was extablished 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 continued its activities in support of religious, educational and other charitable institutions serving the wider public in a manner which accords with the aims and objectives of the Charity. Aggregate donations of £15,700 were paid in the period to 31 March 2024.
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31 MARCH 2024
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 2024 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 2024 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.
29/1/2025 The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr D Bude Trustee
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2024
| Period from | |||||
|---|---|---|---|---|---|
| 20 Jul 22 to | |||||
| Year to 31 | Mar 24 | 31 Mar 23 | |||
| Unrestricted | |||||
| funds | Total funds | Total funds | |||
| Note | £ | £ | £ | ||
| Income and endowments | |||||
| Donations and legacies | 4 | 15,772 | 15,772 | – | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄ | |||
| Total income | 15,772 | 15,772 | – | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | |||
| Expenditure | |||||
| Expenditure on charitable activities | 5,6 | (18,160) | (18,160) | (21,278) | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total expenditure | (18,160) | (18,160) | (21,278) | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Net expenditure and net movement in funds | (2,388) | (2,388) | (21,278) | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| Reconciliation of funds | |||||
| Total funds brought forward | (21,278) | (21,278) | – | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| Total funds carried forward | (23,666) ৶৶৶৶৶৶৶৶৶ |
(23,666) ৶৶৶৶৶৶৶৶৶ |
(21,278) ৶৶৶৶৶৶৶৶৶ |
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 9 form part of these financial statements.
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Cash at bank and in hand | 72 | – | |||
| CREDITORS: amounts falling due | |||||
| within one year | 12 | (23,738) | (21,278) | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| NET CURRENT LIABILITIES | (23,666) | (21,278) | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| TOTAL ASSETS LESS CURRENT | |||||
| LIABILITIES | (23,666) | (21,278) | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| NET LIABILITIES | (23,666) | (21,278) | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||||
| FUNDS OF THE CHARITY | |||||
| Unrestricted funds | (23,666) | (21,278) | |||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||||
| Total charity funds | 13 | (23,666) ৶৶৶৶৶৶৶৶৶ |
(21,278) ৶৶৶৶৶৶৶৶৶ |
These financial statements were approved by the board of trustees and authorised for issue on 29/1/2025........................, and are signed on behalf of the board by:
Mr D Bude Trustee
The notes on pages 5 to 9 form part of these financial statements.
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
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.
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
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. DONATIONS AND LEGACIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| DONATIONS | ||||
| Donations received | 15,772 | 15,772 | – | – |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | |
| EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Charitable donations | 15,700 | 15,700 | – | – |
| Support costs | 2,460 | 2,460 | 21,278 | 21,278 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 18,160 ৶৶৶৶৶৶৶৶৶ |
18,160 ৶৶৶৶৶৶৶৶৶ |
21,278 ৶৶৶৶৶৶৶৶৶ |
21,278 ৶৶৶৶৶৶৶৶৶ |
5. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
| 6. | EXPENDITURE ON CHARITABLE ACTIVITIES | EXPENDITURE ON CHARITABLE ACTIVITIES | BY ACTIVITY TYPE | BY ACTIVITY TYPE | BY ACTIVITY TYPE | |
|---|---|---|---|---|---|---|
| Grant funding | Total funds | Total fund | ||||
| of activities Support costs | 2024 | 2023 | ||||
| £ | £ | £ | £ | |||
| Charitable donations | 15,700 | – | 15,700 | – | ||
| Governance costs | – | 2,460 | 2,460 | 21,278 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 15,700 | 2,460 | 18,160 | 21,278 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| 7. | ANALYSIS OF SUPPORT COSTS | |||||
| Charitable | ||||||
| donations | Total 2024 | Total 2023 | ||||
| £ | £ | £ | ||||
| Governance costs | 2,460 | 2,460 | – | |||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | ||||
| 8. | ANALYSIS OF GRANTS | |||||
| Period from | ||||||
| Year to | 20 Jul 22 to | |||||
| 31 Mar 24 | 31 Mar 23 | |||||
| £ | £ | |||||
| GRANTS TO INSTITUTIONS | ||||||
| Charitable donations | 15,700 | – | ||||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄ | |||||
| Total grants | 15,700 | – | ||||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶ | |||||
| All grants and donations were paid | to charitable institutions | for | the purposes | of either the | ||
| advancement of education or the alleviation of poverty. | ||||||
| The composition of donations is shown below. | ||||||
| 2024 | ||||||
| £ | ||||||
| Yad Eliezer Trust | 15,700 | |||||
| ৶৶৶৶৶৶৶৶৶ |
9. INDEPENDENT EXAMINATION FEES
| INDEPENDENT EXAMINATION FEES | |||
|---|---|---|---|
| Period from | |||
| Year to | 20 Jul 22 | to | |
| 31 Mar 24 | 31 Mar | 23 | |
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 1,560 | – | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶ |
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
10. STAFF NUMBERS
The average head count of employees during the period was nil (2023: nil).
11. 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.
12. CREDITORS: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 1,560 | 1,440 |
| Other creditors | 22,178 | 19,838 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 23,738 | 21,278 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
Other creditors comprised amounts due to Giving More Online Limited; certain of the Trustees of the Charity are Directors of this company.
13. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 20 | ||||
| 1 | April 2023 | Income | Expenditure | 24 | |
| £ | £ | £ | £ | ||
| General funds | (21,278) | 15,772 | (18,160) | (23,666) | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| At | |||||
| At | 31 March 202 | ||||
| 20 July 2022 | Income | Expenditure | 3 | ||
| £ | £ | £ | £ | ||
| General funds | – ৶৶৶৶ |
– ৶৶৶৶ |
(21,278) ৶৶৶৶৶৶৶৶৶ |
(21,278) ৶৶৶৶৶৶৶৶৶ |
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Docusign Envelope ID: 9FF19066-94A0-4F0F-A414-F69AB015CACF
GIVING EXTRA
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 MARCH 2024
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Current assets | 72 | 72 |
| Creditors less than 1 year | (23,738) | (23,738) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net liabilities | (23,666) | (23,666) |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Current assets | – | – |
| Creditors less than 1 year | (21,278) | (21,278) |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net liabilities | (21,278) | (21,278) |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
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