Registered charity number 1200612 Company number CE030359 The Latham Carrick Charitable Foundation CIO Report and Unaudited Accounts 31 October 2023 The Latham Carrick Charitable Foundation CIO Independent Examiners's Report to the Trustees We ￿port on the accounts of the charity forthe yearended 31 October 2023 which are sel out on the following pages. Respective responsibilities of trustee and examiner The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Acll and that an indepencsenl examination is needed. 11 is our responsibility lo.. examine the accounts under section 145 of the 2011 A¢L lo follow the procedures laid down in the general Direcb"ons given by the Charity Commission under section 14515llbl of the 2011 Acl-. and . lo slate whether particular matters have come to our attention. Basi5 of independent examiner's report Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in thè accounts, and s￿kIng explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be reqUI￿d in an audit and consequently no opinion is given as lo whether tho accounts present a 'Irue and fair view, and the report is limited lo those matters sel out in the next statement. Independent examiner's ststement In connection with OLJr examination. rbo matter has come lo our attention.. 111 which gives us reasonable cause lo believe that in any material respect the requirements.. to keep accoLJnbng records in accordance with section 130 of the Charities Act 2011," and to prepare a¢counts which accord w((h the accounting records and comply with the accounting requirements of the 2011 Act have not been met., or 121 lo which. in our opinion, attention should be drawn in ordef to enable a proper understanding of the accounts lo be reached. Bennett Jones & Co Chartered Accountants ?.2 Victona Road Sl Auslell Cornwall PL25 4QD The Latham Carrick Charitable Foundation CIO Statement of Financial Activities for the period frorn 7 October 2022 to 31 October 2023 Unrestricted Funds Restricted Funds Total 2023 Incoming resources Voluntary ffncome." Donations and grants 182.235 182,235 Activities for generating fvnds.. Fundraising activities Investment income Chantablo activities." Hosting payments for refugee housing 5.400 5,400 Total incoming resources 187.635 187,635 Resources expended Cost of generating funds Charit2ble activities 2,776 2.776 Governance costs 25 25 Totsl resources expended 2.801 2,801 Net incoming resources before other recognised gains 184,834 184,834 Recognised gains Net movement in funds 184,834 184,834 Reconciliation of Funds Total Funds brought forward Total F.unds carried forward 184,834 184,834 The Latham Carrick Charitable Foundation CIO Registered charity number: 1200612 Company number: CEO.403a3 Balance Sheet as at 31 October 2023 Notes 2023 Fixed assets Tangible assets 182.210 Current assets Cash at bank and in hand 2.624 Net current assets 2.624 Net assets 184.834 Capital and reserves Unreslricleo funds 184.834 Total funds 184.834 The Iruslees are satisfied that the charity is entitled lo exemption from the requirement lo obtain an audit under section 477 of the Companie5 Act 2006. There has been no requirement for the charity to obtain an audit in accordance wtlh section 476 of Ihc Act. The Iruslees acknowledge their responsibilities for complying with the requirements of the Companies Acl 2006 ￿th respect lo accounting records and the preparation of accounts. Trustee Approved by the board on 0&rf&1 204 The Latham Carrick Charitable Foundation CIO Notes to the Accounts for the period from 7 October 2022 to 31 October 2023 Accounting policies Basis of preparztion The financial statements have been prepa￿￿ in accordan￿ with A(xounting and Reporting by Charilies.'Staternent of Recommended Practice applicablo to charilics preparing their accounts in acGoidance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) leffoctive 1 January 20151- (Charrties SORP {FRS 10211, the Finanaal Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Fund accounting Unrcstricted funds are available for use al the distyelton of the Iwstees in furtherance of the general objectives of the chaiity. Designated funds are unrestricted funds eamiarked by the Management Cownmittee for a particular purpose. Restricted funds are subjected to resirictions on therr expenditure imposed by the donor or through tems of an appeal. Incoming resources All Incoming resourcos are Included in the statement of finanoal activrties when the charity Is entitled to the income and the amount can be quantified reasonable accuracy. I he followng specjlic policies are applied lo particular categories of incomo". Voluntary Income is rcceived by way of grants. donations and gtfts and is induded IN lull in the StatotHent ol Financial Activitie5 when receivable. Grants. where entiuement is nol conditional on the delivery ol a speafi'c perfomiance by the charity. ale recognised when the charity becomes unLX)nditM)nalty onbtled to the grant. Donated serviccs and facilibes are included at the value lo the chartty where this can be quanliled. The value of services provided by volunteers has r>ol been included in Ihese accounts. Invostrnent inGome is included when receivable. Incoming resources from charitable Irading adivity are accounted for when eamed. Incoming resources from grants. where related to perfoTrnance and SK>e￿￿¢ deliverables. are accounted for as the ch31ity earns the nghl lo consideration by its performan￿. Resources expended xpenditure is recognised on an acctual basis as a liabilty is incxjrred. Expenditure includes any VAT which cannot be fully recovered, and Is reported as part of the expendituro to which it relates.. Costs of generating funds comprise the costs assooate(I ¥￿1￿ attracbng voluntary income and the costs of trading for fuiidraising purpose5. Charitable expenditure comprises those costs in¢urred by the charity in the delivery of its activities and servi￿$ for its bcnoficiaries. It includes both costs that can be allocated direcily to such activities and those costs of an indirect nature necessary lo support them. Govoinance costs include those costs associated with mocting the constitutional and statutory requirements of the charity and includo thc audil lees and Gosts linked to the 5tralegic management ol the charily. All costs are allocatod between the exponditure categories of the Statcment of Financial Activities on a basis designed lo reflect the use of the resource. Cos15 relating to a parkn"rJJlar acbvity arc allocated directly, othe15 are apportioned on an appropriate basis. The Latham Carrick Charitable Foundation CIO Notes to the Accounts for the period from 7 October 2022 to 31 October 2023 Tangible fixed assets Tangiblc fixed 3ssels are measured at cost les5 accumulative depreciation and any accumulative impairment1055es. Depreciation is provided on all tangiblo Iixed assets. other than f￿ehOld land. at rates calculated lo write off the cost, less eslimaled residual value, of each assel evenly over Its cxpected useful life. as follows-. Freehold land and buildings l easehold land and building improvemènts Plant and rrachinery Motor vehides not depreaated over the remaining tenn of the lease over 3 years over 5 years Debtor5 Short teim debtors are measured at transaction price Iwhith is usually the invoTce PTILEI, less any impairrrent losses for bad and doLJbtftJl dcbts. Loans and othor financial assets arc initialty Tecognised at transaction price including any transaction costs and subsequently measured 31 amortised cost doterniined using the effective interest fflethod, le55 any impairment losses for bad and doubtful debts. Creditors Short term ciodilors arc measured al transaction price (which is usually the invoice price}. Loans and other financial liabilities are Initially recognise(5 at Iiansaction price net of any transaction ¢osts and subseqLJenlly measured at atnortised cost determined using the effective interest n*thod. Pmvisions Provisions lie liabilities of vnccrtain timing or amount) atc recogniscd when Iheie is an obligation al the reporting date as a rosult tsl a past event. il is probable that economic benefit wll be transferred to sottle the obligation and the amount of the obligation can be estimaled reliabty. Pensions Conlributions to defined contribution plans are expensed in the period lo vthich they relale. 2 Tangible fixed assets Building improveme Total Cost Add￿tIOnS Al 31 October 2023 182.210 182.210 182.210 182.210 DepreciatÈon Al 31 October 2023 Net book value Al 31 October 2023 182,210 182,210 3 Other information rhe l.atham Carrick ChaTilable Foundation is a Chatrtable Incorporated Oiganisation and is basod al 22 Victoria Road, St Austell, PL25 4QD in Comwall. 11 is registered at Companies House in England & Wale5 and also with the Charity Commission. The Latham Carrick Charitable Foundation CIO Notes to the Accounts for the period frorn 7 October 2022 to 31 October 2023 4 Total resources expended 2023 Costs directly allocated to aetivities Refugee propety costs Insurance Repairs and maintenance 2.355 80 341 2.355 80 341 Support costs allocated to activities Bank charges 25 25 2,776 25 2,801