**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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|
Page 7
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