Registered number: 07331618
Save The Schools
(A company limited by guarantee)
Unaudited
Trustee's report and financial statements
For the Year Ended 31 July 2023
Save The Schools
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustee's report | 2 - 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
Save The Schools
(A company limited by guarantee)
Reference and administrative details of the Company, its Trustees and advisers For the Year Ended 31 July 2023
Trustees
Binod Neupane, Trustee
Company registered number
07331618
Registered office
12 Huxley Road, Welling,Kent, England, DA16 2EN
Page 1
Save The Schools
(A company limited by guarantee)
Trustee's report For the Year Ended 31 July 2023
The Trustee present their annual report together with the financial statements of the Save the Schools for the 1 August 2022 to 31 July 2023. The Annual report serves the purposes of both a Trustee' report and a directors' report under company law. The Trustee confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the Trustee have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The charity has continued its donations to various schools in Nepal as part of its commitment to support in education sector specially in rural areas in Nepal.
c. Main activities undertaken to further the Company's purposes for the public benefit
Donations raised in the UK from individual and institutions. The charity makes grants to various schools for educational purpose and focus mainly on providing marker and white boards for classroom.
Achievements and performance
a. Main achievements of the Company
Incoming resources for the year totalled £1,227 (2022: £503). Total resources expended amounted to £1,424 (2022: £618) resulting to deficit £197 (2022: £115).
At the end of the year, the charitable company had unrestricted reserves of £191 (2022: £388).
Financial review
a. Going concern
After making appropriate enquiries, the Trustee have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 2
Save The Schools
(A company limited by guarantee)
Trustee's report (continued) For the Year Ended 31 July 2023
b. Reserves policy
The charity carry forwards reserves to continue to provide support to schools.
Structure, governance and management
a. Constitution
Save The Schools is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustee
The management of the Company is the responsibility of the Trustee who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustee have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members' liability
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
Page 3
Save The Schools
(A company limited by guarantee)
Trustee's report (continued) For the Year Ended 31 July 2023
Statement of Trustee's responsibilities
The Trustee (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustee to prepare financial statements for each financial . Under company law, the Trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustee on 23 April 2024 and signed on their behalf by:
Binod Neupane
Trustee
Page 4
Save The Schools
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 July 2023
| Note Income from: Donations and legacies 4 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 1,227 1,227 1,424 1,424 (197) 388 (197) 191 |
Total funds 2023 £ 1,227 1,227 1,424 1,424 (197) 388 (197) 191 |
Total funds 2022 £ 503 503 618 618 (115) 503 (115) 388 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 11 form part of these financial statements.
Page 5
Save The Schools
(A company limited by guarantee) Registered number: 07331618
Balance sheet As at 31 July 2023
| Note Fixed assets Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 7 Unrestricted funds 7 Total funds |
191 191 |
2023 £ - 191 191 191 191 - 191 191 |
388 388 |
2022 £ |
|---|---|---|---|---|
| - 388 |
||||
| 388 | ||||
| 388 | ||||
| 388 | ||||
| - 388 |
||||
| 388 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustee acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustee on 23 April 2024 and signed on their behalf by:
Binod Neupane
Trustee
The notes on pages 7 to 11 form part of these financial statements.
Page 6
Save The Schools
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 July 2023
1. General information
Save the Schools is a company, limited by guarantee, registered in England & Wales. The company's registered number is 07331618 and registered office:12 Huxley Road, Welling,Kent, England, DA16 2EN.
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Save The SchoolsSave the schools meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
2.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 7
Save The Schools
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 July 2023
2. Accounting policies (continued)
2.5 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.6 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Company and which have not been designated for other purposes.
3. Trustee's remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 July 2023, no Trustee expenses have been incurred (2022 - £NIL) .
4. Income from donations and legacies
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Donations | 1,227 | 1,227 | 503 |
5. Analysis of grants
| Grants to | Total | |
|---|---|---|
| Institutions | funds | |
| 2023 | 2023 | |
| £ | £ | |
| School Grants | 1,411 | 1,411 |
Page 8
Save The Schools
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 July 2023
5. Analysis of grants (continued)
| Grants to | Total | |
|---|---|---|
| Institutions | funds | |
| 2022 | 2022 | |
| £ | £ | |
| School Grants | 605 | 605 |
6. Analysis of expenditure by activities
| Direct costs - Grants Direct costs - Grants |
Grant funding of activities 2023 £ 1,411 Grant funding of activities 2022 £ 605 |
Support costs 2023 £ 13 Support costs 2022 £ 13 |
Total funds 2023 £ 1,424 |
|---|---|---|---|
| Total funds 2022 £ 618 |
Page 9
(A company limited by guarantee)
Save The Schools
Notes to the financial statements For the Year Ended 31 July 2023
7. Statement of funds
| Statement of funds - current year Balance at 1 August 2022 £ Unrestricted funds General Funds - all funds 388 Statement of funds - prior year Balance at 1 August 2021 £ Unrestricted funds Reserves 503 |
Income £ 1,227 Income £ 503 |
Expenditure £ Balance at 31 July 2023 £ (1,424) 191 Expenditure £ Balance at 31 July 2022 £ (618) 388 |
Expenditure £ Balance at 31 July 2023 £ (1,424) 191 Expenditure £ Balance at 31 July 2022 £ (618) 388 |
|---|---|---|---|
| Balance at 31 July 2022 £ 388 |
8. Summary of funds
Summary of funds - current year
| Balance at 1 August 2022 £ General funds 388 Summary of funds - prior year Balance at 1 August 2021 £ General funds 503 |
Income £ 1,227 Income £ 503 |
Expenditure £ Balance at 31 July 2023 £ (1,424) 191 Expenditure £ Balance at 31 July 2022 £ (618) 388 |
Expenditure £ Balance at 31 July 2023 £ (1,424) 191 Expenditure £ Balance at 31 July 2022 £ (618) 388 |
|---|---|---|---|
| Balance at 31 July 2022 £ 388 |
Page 10
Save The Schools
(A company limited by guarantee)
Notes to the financial statements For the Year Ended 31 July 2023
9. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Current assets 191 Total 191 Analysis of net assets between funds - prior year Unrestricted funds 2022 £ Current assets 388 Total 388 |
Total funds 2023 £ 191 |
|---|---|
| 191 | |
| Total funds 2022 £ 388 |
|
| 388 |
Page 11