REGISTERED CHARITY NUMBER: 1199819
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2024
for
The Olive Project
The Olive Project
Contents of the Financial Statements for the Year Ended 30 June 2024
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 to 12 |
The Olive Project Reference and Administrative Details for the Year Ended 30 June 2024
TRUSTEES
Ms Diane Lawrence Trustee
PRINCIPAL ADDRESS COLAB EXETER WAT TYLER HOUSE 3 KING WILLIAM STREET EXETER EX4 6PD
REGISTERED CHARITY 1199819 NUMBER
INDEPENDENT EXAMINER Quilfords Limited Chartered Certified Accountants 113 Romford Road London E15 4LY
Page 1
The Olive Project
Report of the Trustees for the Year Ended 30 June 2024
The trustees present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the cio, to be carried out in devon and cornwall, are: 1) For the public benefit to relieve the needs of and protect and preserve good health among women and girls from ethnic minority backgrounds who are experiencing or have experienced domestic abuse and sexual violence by providing them with practical and emotional support, advice and assistance.
2) The promotion of equality and diversity for the public benefit by:
-
(a) The elimination of discrimination on the grounds of race and gender;
-
(b) Advancing education and raising awareness in equality and diversity;
(c) Conducting or commissioning research on equality and diversity issues and publishing the results to the public;
- (d) Cultivating a sentiment in favour of equality and diversity.
Area of benefit
Local the objects of the cio, to be carried out in devon and cornwall, are:
1) For the public benefit to relieve the needs of and protect and preserve good health among women and girls from ethnic minority backgrounds who are experiencing or have experienced domestic abuse and sexual violence by providing them with practical and emotional support, advice and assistance. 2) The promotion of equality and diversity for the public benefit by:
(a) The elimination of discrimination on the grounds of race and gender;
- (b) Advancing education and raising awareness in equality and diversity;
(c) Conducting or commissioning research on equality and diversity issues and publishing the results to the public;
- (d) Cultivating a sentiment in favour of equality and diversity.
FINANCIAL REVIEW
Funds in Surplus
The charity received donations and income totalling £89,620 (2023: ££48274). After payments of outgoing expenses totalling £94,929 (2023: £3,144), the charity was left with a deficit of £5,309 (2023: surplus £45,130) for the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Page 2
The Olive Project
Report of the Trustees for the Year Ended 30 June 2024
02/12/2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Page 3
Independent Examiner's Report to the Trustees of The Olive Project
Independent examiner's report to the trustees of The Olive Project
I report to the charity trustees on my examination of the accounts of The Olive Project (the Trust) for the year ended 30 June 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable 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.
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.
Askir Ali
Quilfords Limited Chartered Certified Accountants 113 Romford Road London E15 4LY
Date: 13/12/2024
Page 4
The Olive Project
Statement of Financial Activities for the Year Ended 30 June 2024
| Period | ||||||
|---|---|---|---|---|---|---|
| 27.7.22 | ||||||
| Year Ended | to | |||||
| 30.6.24 | 30.6.23 | |||||
| Unrestricted | Restricted | Total |
Total | |||
| fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | - | 89,620 | 89,620 | 48,274 | ||
| EXPENDITURE ON | ||||||
| Raising funds | 2 | - | - | - | 3,144 | |
| Other | - | 94,931 | 94,931 | - | ||
| Total | - | 94,931 | 94,931 | 3,144 | ||
| NET INCOME/(EXPENDITURE) | - | (5,311) | (5,311) | 45,130 | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | (87) | 45,217 | 45,130 | - | ||
| TOTAL FUNDS CARRIED FORWARD | (87) | 39,906 | 39,819 | 45,130 |
The notes form part of these financial statements
Page 5
The Olive Project
Statement of Financial Position 30 June 2024
| Unrestricted Restricted fund fund Notes £ £ CURRENT ASSETS Cash at bank 813 39,368 CREDITORS Amounts falling due within one year 5 (900) 538 NET CURRENT ASSETS/(LIABILITIES) (87) 39,906 TOTAL ASSETS LESS CURRENT LIABILITIES (87) 39,906 NET ASSETS (87) 39,906 FUNDS 6 Unrestricted funds Restricted funds TOTAL FUNDS |
30.6.24 Total funds £ 40,181 (362) 39,819 39,819 39,819 (87) 39,906 39,819 |
30.6.23 Total funds £ 46,030 (900) 45,130 45,130 45,130 (87) 45,217 45,130 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............02/12/2024................................. and were signed on its behalf by:
The notes form part of these financial statements
Page 6
The Olive Project
Notes to the Financial Statements for the Year Ended 30 June 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 7
continued...
The Olive Project
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
2. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| Period | ||
| 27.7.22 | ||
| Year Ended | to | |
| 30.6.24 | 30.6.23 | |
| £ | £ | |
| Support costs | 94,931 | 3,144 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the period ended 30 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the period ended 30 June 2023.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 813 47,461 EXPENDITURE ON Raising funds 900 2,244 NET INCOME/(EXPENDITURE) (87) 45,217 TOTAL FUNDS CARRIED FORWARD (87) 45,217 |
Total funds £ 48,274 |
|---|---|
| 3,144 | |
| 45,130 | |
| 45,130 |
Page 8
continued...
The Olive Project
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|---|
| 30.6.24 | 30.6.23 | |||
| £ | £ | |||
| Other creditors | 362 | 900 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.7.23 | in funds | 30.6.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (87) | - | (87) | |
| Restricted funds | ||||
| Restricted fund | 45,217 | (5,311) | 39,906 | |
| TOTAL FUNDS | 45,130 | (5,311) | 39,819 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Restricted funds | ||||
| Restricted fund | 89,620 | (94,931) | (5,311) | |
| TOTAL FUNDS | 89,620 | (94,931) | (5,311) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| in funds | 30.6.23 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | (87) | (87) | ||
| Restricted funds | ||||
| Restricted fund | 45,217 | 45,217 | ||
| TOTAL FUNDS | 45,130 | 45,130 |
Page 9
continued...
The Olive Project Notes to the Financial Statements - continued for the Year Ended 30 June 2024
6. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 813 | (900) | (87) |
| Restricted funds | |||
| Restricted fund | 47,461 | (2,244) | 45,217 |
| TOTAL FUNDS | 48,274 | (3,144) | 45,130 |
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2024.
Page 10
The Olive Project
Detailed Statement of Financial Activities for the Year Ended 30 June 2024
| Detailed Statement of Financial Activities for the Year Ended 30 June 2024 |
||
|---|---|---|
| Period | ||
| 27.7.22 | ||
| Year Ended | to | |
| 30.6.24 | 30.6.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 89,620 | 48,274 |
| Total incoming resources | 89,620 | 48,274 |
| EXPENDITURE | ||
| Other | ||
| Wages | 41,671 | - |
| Pensions | 2,035 | - |
| Courier services | 507 | - |
| Legal fees | 150 | - |
| Vehicle running costs | 413 | - |
| 44,776 | - | |
| Support costs | ||
| Information technology | ||
| Telephone | 121 | - |
| Other | ||
| Insurance | - | 157 |
| Postage and stationery | 1,731 | - |
| Travel and subsistence | 3,378 | 47 |
| Event expenses | 157 | - |
| Charitable donation | 33,787 | - |
| Staff support costs | 990 | 270 |
| Client support/food programme | - | 150 |
| Council tax | 2,452 | - |
| Professional fee | 362 | - |
| Office and IT Costs | 5,628 | 1,620 |
| Equipment expensed | 109 | - |
| 48,594 | 2,244 |
This page does not form part of the statutory financial statements
Page 11
The Olive Project
Detailed Statement of Financial Activities for the Year Ended 30 June 2024
| Detailed Statement of Financial Activities for the Year Ended 30 June 2024 |
||
|---|---|---|
| Period | ||
| 27.7.22 | ||
| Year Ended | to | |
| 30.6.24 | 30.6.23 | |
| £ | £ | |
| Other | ||
| Governance costs | ||
| Accountancy and legal fees | 1,440 | 900 |
| Total resources expended | 94,931 | 3,144 |
| Net (expenditure)/income | (5,311) | 45,130 |
This page does not form part of the statutory financial statements
Page 12