REGISTERED CHARITY NUMBER: 1200004
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 May 2024
for
Great Causes II
Three Kings Accounting Ltd Suite 3 Dukes House 4-6 High Street Windsor Berkshire SL4 1LD
Great Causes II
Contents of the Financial Statements for the Year Ended 31 May 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
| Detailed Statement of Financial Activities | 10 |
Great Causes II
Report of the Trustees for the Year Ended 31 May 2024
The trustees present their report with the financial statements of the charity for the year ended 31 May 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 main objective of the charity is the advancement of health for public benefit by preserving and protecting the health of those in need of treatment and care. Great Causes II (GCII) works with professionals and experts to deliver targeted and systematic improvements in healthcare.
We seek to build close working relationships, with carefully selected partners, to provide seed funding for projects that are designed to tackle complex and seemingly intractable problems and deliver impactful and scalable solutions.
We identify and select our partners through our independent research. We offer targeted funding and support to help deliver positive outcomes, reduce costs and amplify their impact. We do not respond to unsolicited requests for funding and all donations of money and time were made by trustees.
Significant activities
Activity during the year involved monitoring and working with the two charities undertaking three long-term projects entered late in the previous financial year. It is intended that new projects will be entered in the second half of 2024.
Public benefit
When considering where to focus our attention, all our trustees have regard to the Charity Commission's guidance on public benefit and what this means for sustainability of Great Causes II.
Grantmaking
Grants are made in accordance with charity law, our constitution, signed agreements, trustees agreement and the reliance of our primary donor for funding. In making grants, we endeavour to reflect the wishes our charity partners by directing funds towards areas they tell us are most in need with the biggest outcomes for the public benefit.
FINANCIAL REVIEW
Reserves policy
It is the policy of GCII to only hold sufficient reserves so as to cover operating costs. The trustees will request funds from the primary donor on an 'as needed' basis.
GCII is currently dependent one trustee for donations who has provided a committed statement on file to fund the day to day needs and further projects for the charity, for the foreseeable future. To ensure the sustainability of GCII going forward, work has begun to create an independent fund to provide capital and income.
Page 1
Great Causes II
Report of the Trustees
for the Year Ended 31 May 2024
FINANCIAL REVIEW
During the period, £2,000 (2023:£103,667) was donated by the principal donor/trustee to cover ongoing administrative costs of the charity. As at 31 May 2024, unrestricted funds held were £29,838 (2023: £6,830).
There are no restricted funds.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1200004
Principal address
Longmoor Forest Road Pyrford GU22 8LU
Trustees
Mr R Lobo Mr D Lobo Mrs G Lobo Ms C Daly
Independent Examiner
Vanessa Cresswell Three Kings Accounting Ltd Suite 3 Dukes House 4-6 High Street Windsor Berkshire SL4 1LD
Approved by order of the board of trustees on 17 September 2024 and signed on its behalf by:
Mr R Lobo - Trustee
Page 2
Independent Examiner's Report to the Trustees of Great Causes II
Independent examiner's report to the trustees of Great Causes II
I report to the charity trustees on my examination of the accounts of Great Causes II (the Trust) for the year ended 31 May 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Vanessa Cresswell
Three Kings Accounting Ltd Suite 3 Dukes House 4-6 High Street Windsor Berkshire SL4 1LD
17 September 2024
Page 3
Great Causes II
Statement of Financial Activities for the Year Ended 31 May 2024
| Year Ended 31.5.24 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 24,901 Investment income 2 1,111 Total 26,012 EXPENDITURE ON Charitable activities Public health - Other 3,004 Total 3,004 NET INCOME 23,008 RECONCILIATION OF FUNDS Total funds brought forward 6,830 TOTAL FUNDS CARRIED FORWARD 29,838 |
Period 9.8.22 to 31.5.23 Total funds £ 103,669 - |
|---|---|
| 103,669 | |
| 88,200 8,639 |
|
| 96,839 | |
| 6,830 - |
|
| 6,830 |
The notes form part of these financial statements
Page 4
Great Causes II
Balance Sheet 31 May 2024
| 31.5.24 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 4 230 CURRENT ASSETS Debtors 5 104 Cash in hand 30,704 30,808 CREDITORS Amounts falling due within one year 6 (1,200) NET CURRENT ASSETS 29,608 TOTAL ASSETS LESS CURRENT LIABILITIES 29,838 NET ASSETS 29,838 FUNDS 7 Unrestricted funds 29,838 TOTAL FUNDS 29,838 |
31.5.23 Total funds £ 368 - 7,962 7,962 (1,500) 6,462 6,830 6,830 6,830 6,830 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 September 2024 and were signed on its behalf by:
Mr R Lobo - Trustee
The notes form part of these financial statements
Page 5
Great Causes II
Notes to the Financial Statements for the Year Ended 31 May 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
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.
There are no restricted funds.
Page 6
continued...
Great Causes II
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Period | ||
| 9.8.22 | ||
| Year Ended | to | |
| 31.5.24 | 31.5.23 | |
| £ | £ | |
| Interest receivable - trading | 1,111 | - |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2024 nor for the period ended 31 May 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2024 nor for the period ended 31 May 2023.
4. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Computer | |
| equipment | |
| £ | |
| COST | |
| At 1 June 2023 and 31 May 2024 | 414 |
| DEPRECIATION | |
| At 1 June 2023 | 46 |
| Charge for year | 138 |
| At 31 May 2024 | 184 |
| NET BOOK VALUE | |
| At 31 May 2024 | 230 |
| At 31 May 2023 | 368 |
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continued...
Great Causes II
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|
| 31.5.24 | 31.5.23 | ||||
| £ | £ | ||||
| Prepayments | 104 | - | |||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.5.24 | 31.5.23 | ||||
| £ | £ | ||||
| Other creditors | 1,200 | 1,500 | |||
| 7. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At | 1.6.23 | in funds | 31.5.24 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 6,830 | 23,008 | 29,838 | ||
| TOTAL FUNDS | 6,830 | 23,008 | 29,838 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 26,012 | (3,004) | 23,008 | ||
| TOTAL FUNDS | 26,012 | (3,004) | 23,008 | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | At | ||||
| in funds | 31.5.23 | ||||
| £ | £ | ||||
| Unrestricted funds | |||||
| General fund | 6,830 | 6,830 | |||
| TOTAL FUNDS | 6,830 | 6,830 |
Page 8
continued...
Great Causes II
Notes to the Financial Statements - continued for the Year Ended 31 May 2024
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 103,669 103,669 |
Resources expended £ (96,839) (96,839) |
Movement in funds £ 6,830 6,830 |
|---|---|---|---|
8. RELATED PARTY DISCLOSURES
All income in the year is from the Trustees.
Page 9
Great Causes II
Detailed Statement of Financial Activities for the Year Ended 31 May 2024
| Year Ended 31.5.24 £ INCOME AND ENDOWMENTS Donations and legacies Donations 2,000 Gift aid 22,901 24,901 Investment income Interest receivable - trading 1,111 Total incoming resources 26,012 EXPENDITURE Charitable activities Grants to institutions - Support costs Management Insurance 311 Postage and stationery - IT software and consumables 1,355 Depreciation of tangible and heritage assets 138 1,804 Finance Bank charges - Governance costs Accountancy and legal fees 1,200 Total resources expended 3,004 Net income 23,008 |
Period 9.8.22 to 31.5.23 £ 103,669 - |
|---|---|
| 103,669 - |
|
| 103,669 88,200 258 15 4,163 46 |
|
| 4,482 17 4,140 |
|
| 96,839 | |
| 6,830 |
This page does not form part of the statutory financial statements
Page 10