Registered charity number 1200612 Company number CE030359
The Latham Carrick Charitable Foundation CIO
Report and Unaudited Accounts
31 October 2024
The Latham Carrick Charitable Foundation CIO Statement of Financial Activities for the year ended 31 October 2024
| Incoming resources Voluntary income: Donations and grants Activities for generating funds: Fundraising activities Investment income Charitable activities: Hosting payments for refugee housing Total incoming resources Resources expended Cost of generating funds Charitable activities Governance costs Total resources expended Net incoming resources before other recognised gains Recognised gains Net movement in funds Reconciliation of Funds Total Funds brought forward Total Funds carried forward |
Unrestricted Restricted Funds Funds £ £ - - - - 21,290 - 21,290 - - - 2,130 - 17 - 2,147 - 19,143 - - - 19,143 - 184,834 - 203,977 - |
Total 2024 £ - - - 21,290 21,290 - 2,130 17 2,147 19,143 - 19,143 184,834 203,977 |
Total 2023 £ 5,400 - - 182,235 187,635 184,834 - - 184,834 184,834 - 184,834 - 184,834 |
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The Latham Carrick Charitable Foundation CIO Registered charity number: 1200612 Company number: CE030359 Balance Sheet as at 31 October 2024
| Notes Fixed assets Tangible assets 2 Current assets Debtors 3 Cash at bank and in hand Net current assets Net assets Capital and reserves Unrestricted funds Total funds |
15,000 6,767 21,767 |
2024 £ 182,210 21,767 203,977 203,977 203,977 |
- 2,624 2,624 |
2023 £ 182,210 2,624 184,834 184,834 184,834 |
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The trustees are satisfied that the charity is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
There has been no requirement for the charity to obtain an audit in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
E Vermaat, Trustee and Director Approved by the board on 21 August 2025
The Latham Carrick Charitable Foundation CIO Notes to the Accounts for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Management Committee for a particular purpose.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through terms of an appeal.
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is included when receivable.
Incoming resources from charitable trading activity are accounted for when earned.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
The Latham Carrick Charitable Foundation CIO Notes to the Accounts for the year ended 31 October 2024
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings not depreciated Leasehold land and building improvements over the remaining term of the lease Plant and machinery over 3 years Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
| Cost At 1 November 2023 At 31 October 2024 Depreciation At 31 October 2024 Net book value At 31 October 2024 At 31 October 2023 |
Land and buildings £ 182,210 182,210 - 182,210 182,210 |
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The Latham Carrick Charitable Foundation CIO
Notes to the Accounts for the year ended 31 October 2024
| 3 Debtors Other debtors |
2024 £ 15,000 |
2023 £ - |
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4 Other information
The Latham Carrick Charitable Foundation is a Charitable Incorporated Organisation and is based at 22 Victoria Road, St Austell, PL25 4QD in Cornwall. It is registered at Companies House in England & Wales and also with the Charity Commission.
The Latham Carrick Charitable Foundation CIO Notes to the Accounts for the year ended 31 October 2024
| 5 Total resources expended Cost of generating funds Charitable activities Governance 2024 £ £ £ £ Costs directly allocated to activities Refugee property costs 1,830 1,830 Insurance - - Repairs and maintenance - - Depreciation - - Accountancy fees - - Support costs allocated to activities Stationery and printing - 17 17 Subscriptions and licences - - Bank charges - Sundry 300 300 - 2,130 17 2,147 |
2023 £ 2,355 80 341 - - - - 25 - 2,801 |
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