Right To Resist
Overview of Financial Performance
Right to Resist is a charitable incorporated organisation (CIO) with the registered charity number 1201092. These financial statements relate to the first period of operation to 30 November 2023.
Since inception the charity has successfully received donations and claimed gift aid. This has enabled the initial objective of the charity to become a reality. Thanks to our supporters and a strong grip on our finances our liquidity has strengthened giving us confidence of being able to withstand risks and operate on a going concern basis.
It is too early in our journey to report trading income, however, donations were £14,162 excluding gift aid with a further £1,892 raised via a grant. This resulted in an operating surplus of £4,860.
Costs were limited to building capacity and resilience to enable our software app to be offered for free to individuals and organisations. The strategic objective remains to promote its appeal and build the user base that offer users greater confidence in their personal safety.
Charity law requires Trustees to prepare financial statements for each financial year in accordance with United Kingdom accounting Standards and applicable law. In preparing these financial statements, the Trustees have selected suitable accounting policies and applied them consistently. Made judgements and estimates that are reasonable and prudent.
The financial statements have been prepared on a going concern basis.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees confirm that these financial statements give a true and fair view of the state of affairs of the charity and approve accordingly.
Registered charity: 1201092 Registration date: 21/11/2022
Registered address: East Deanraw, Langley on Tyne, Hexham, NE47 5LY Accounting period: Inception to 30 November 2023
Trustee: B Speir Trustee: Lady A Blackett Trustee: A Murphy Treasurer: D Pope
Financial statements approved 28 February 2024
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Balance Sheet Nov-23
For the period to 30 November 2023 £
Fixed Assets
Tangible assets
Intangible assets 3,784
Sub total 3,784
Current Assets
Debtors
Cash at bank and in hand 1,076
Sub total 1,076
Creditors due within 1 year
Net Current Assets 4,860
Creditors due greater than 1 year
Provisions for liabilities and charges
Sub total
Net Assets 4,860
Represented by
Statement of Financial Activities 4,860
Net Assets 4,860
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Balance sheet approved by the Trustees on 28 February 2024
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Statement of Financial Activities Nov-23
For the period to 30 November 2023 £
Income
Donations 14,162
Trading income
Other income 1,892
Gift Aid 3,338
Total income 19,391
Cost Categories
IT hosting and maintenance 867
Consulting 12,250
Administration costs 194
Bank charges 59
Governance
Regulatory fees 216
Trustee expenses 0
Accounting 0
Sub total 13,586
Depreciation
Amortisation 946
Impairment
Sub total 946
Surplus / Deficit to net funds 4,860
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Accounting Policies
The principle accounting policies adopted, judgements and key sources of estimation uncertainty in preparation of these financial statements are as set out below. These policies have been consistently applied unless otherwise stated.
1.1 Basis of Preparation
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the recognition of certain financial assets and liabilities measured at fair value.
The financial statements have been prepared to give a 'true and fair' view based on Accounting and Reporting by Charities: Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS102).
The financial statements also conform to the requirements of the Charities Act 2011.
1.2 Going Concern
The charity forecasts and projections, taking account of reasonable possible changes in performance, show that the charity will have sufficient cash flows and reserves to adopt the going concern basis in preparing its financial statements. The Trustees have considered this and other factors and conclude the ongoing use of the going concern basis of accounting remains appropriate.
1.3 Income Donations
Accounted for as soon as there is entitlement and the amount is measurable and receipt is probable. Donations include Gift Aid based on amounts recoverable at the accounting date. Donated goods and services are included at the point in time when they are received at the value to the charity where these can be quantified. No amounts are included in these financial statements for the services donated by volunteers. Income from the sale of goods and services is recognised when orders are fulfilled, or services are delivered. Investment income, interest of deposits is recognised on an accrual basis. Accrued income is provided for revenue that has been earned in the current financial year but is yet to be invoiced.
1.4 Expenditure
Expenditure, including irrecoverable VAT, is accounted for on an accrual basis.
1.5 Tangible Fixed Assets
Tangible fixed assets are recorded at cost, including irrecoverable VAT, or where donated, open market valuation at the time on the donation. Individual items of expenditure below £1,000 are not capitalised. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful lives. Computer hardware 3 years, equipment, fixtures and fittings 5 years.
Fixed assets are also reviewed to determine whether there is any indication that those assets have suffered any impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying value. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the statement of financial activities.
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1.6 Intangible Fixed Assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. Amortisation is calculated and charged to the statement of financial activities using the straight line method over their estimated useful lives. Software 5 years. Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended in the year of change to reflect the new circumstances. Intangible assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Costs associated with maintaining computer software are recognised as an expense is incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the charity are recognised as intangible assets when the following criteria are met. A) It is technically feasible to complete the software so that it will be available for use. B) There is an ability to use or sell the software.
C) It can be demonstrated how the software will generate probable future economic benefits.
D) The expenditure attributable to the software during its development can be reliably measured.
Other development expenditures that do not meet these criteria are recognised as an expense as incurred.
1.7 Debtors
Debtors are stated after provision for impairment. Prepayments are valued at the amount prepaid.
1.8 Cash at Bank
Cash at bank and in hand includes cash, short term highly liquid investments with a maturity of less the 3 months.
1.9 Creditors
Creditors are recognised where there is a present obligation that can be measured or estimated reliably. Creditors due for settlement in more than one year are recognised on the same basis and not discounted for the time value of money.
1.10 Financial Instruments
Financial instruments are initially recognised at transaction value and subsequently measured at their settlement value The exception is bank loans which are subsequently measured at amortised cost using the effective interest method.
1.11 Taxation
Right to Resist is a registered charity and as such is entitled to certain tax exemptions on income and profit from investments and surpluses on any trading activity carried out in furtherance of the primary objectives, if these profits are applied solely for charitable purposes.
1.12 Accounting Estimates and Judgements In Preparing the Financial Statements
In preparing the financial statements the Trustees are required to make estimates and judgements. The matters below are considered to be the most important in understanding the judgements that are involved in preparing the financial statements and the uncertainties that could impact the amounts reported in the results of operations, financial position and cash flows.
A) Identified cost drivers for each cost category in the statement of financial activities.
B) Impairment of assets in the balance sheet.
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