Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
Registered number: 14440414 Charity number: 1204075
THE ATRATO FOUNDATION
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 12 |
Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 DECEMBER 2023
Trustees Lara Townsend, Trustee Natalie Markham, Trustee Steven Noble, Trustee (resigned 24 July 2024) Benedict Green, Trustee (resigned 26 June 2023) Steven Windsor, Trustee (resigned 26 June 2023) Company registered number 14440414 Charity registered number 1204075 Registered office 4h Floor 36 Queen Street London EC4R 1BN Accountants Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Hertfordshire WD17 1HP
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the financial statements of the The Atrato Foundation for the period 25 October 2022 to 31 December 2023. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees 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 Charity 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
The charity’s purpose is to advance such charitable purposes as the trustees see fit from time to time.
The foundation will make grants or donations to charities or organisations that the trustees consider further its charitable purpose.
In setting objectives and planning for activities, the Trustees 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. Strategies for achieving objectives
The charity invites applications for funding from eligible charities & selects recipients for that funding, in accordance with it’s grant making policy.
c. Activities undertaken to achieve objectives
Post year end the trustees identified and engaged with charities who had been selected as recipients of funding. A number of these were selected as core charities with who the trustees intend to develop a longer term partnership to provide ongoing funding and volunteering opportunities.
d. Main activities undertaken to further the Charity's purposes for the public benefit
The Charity initiated a programme of selection of beneficiaries for funding. This was undertaken in line with our grant making policy.
Achievements and performance
a. Main achievements of the Charity
Post year end, the charity has allocated funding to charities to enable those organisations to further their charitable purposes and for those selected as core charities provides certainty over future funding for projects.
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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.
b. Reserves policy
It is the Trustees' policy to aim to create reserves above three months running costs. The level of reserves is monitored and reviewed annually by the Trustees.
Structure, governance and management
a. Constitution
The Atrato Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
Post year end the trustees accepted a grant of £150,000 from Supermarket Income REIT PLC (‘SUPR’). Of this amount £120,000 has been allocated to a number of charities, the remaining £30,000 will be allocated in due course. In line with the charitable giving commitment from SUPR a further £150,000 will be funded during the 12 months ended 30 June 2025. The trustees will have the discretion to decide whether to accept this funding.
There are a number of reporting requirements imposed as a condition of funding, these are in line with the terms of the grant making policy.
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' 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 Trustees to prepare financial statements for each financial period. Under company law, the Trustees 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 Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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 Companies Act 2006. They 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Natalie Markham Trustee 21-10-2024 | 09:48 BST Date:
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 31 DECEMBER 2023
Independent Examiner's Report to the Trustees of The Atrato Foundation ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 December 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
21-10-2024 | 10:41 BST Signed: Dated: Samuel Hodson BSc ACA Hillier Hopkins LLP Chartered Accountants Radius House 51 Clarendon Road Watford Hertfordshire WD17 1HP
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 DECEMBER 2023
| Note Income from: Donations and legacies 3 Interest Received 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward |
Unrestricted funds Period Ended 31 December 2023 £ 122,356 339 122,695 5,000 5,000 117,695 117,695 117,695 |
Total funds Period Ended 31 December 2023 £ 122,356 339 |
|---|---|---|
| 122,695 | ||
| 5,000 | ||
| 5,000 | ||
| 117,695 | ||
| 117,695 | ||
| 117,695 |
The Statement of Financial Activities includes all gains and losses recognised in the period.
The notes on pages 8 to 12 form part of these financial statements.
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 14440414
BALANCE SHEET AS AT 31 DECEMBER 2023
| Note Fixed assets Current assets Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 10 Unrestricted funds 10 Total funds |
122,695 122,695 (5,000) |
2023 £ |
|---|---|---|
| - 117,695 |
||
| 117,695 | ||
| 117,695 | ||
| 117,695 | ||
| - 117,695 |
||
| 117,695 |
The Charity 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 period in question in accordance with section 476 of Companies Act 2006.
The Trustees 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 Trustees and signed on their behalf by:
Natalie Markham
Trustee Date: 21-10-2024 | 09:48 BST
The notes on pages 8 to 12 form part of these financial statements.
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
1. General information
The Atrato Foundation is incorporated in Engalnd & Wales. The Registered address is 4th Floor 36 Queen Street, London, EC4R 1BN
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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Atrato Foundation 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.
The accounts have been prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Allocation between unrestricted and restricted funds is subject to specific conditions by the donor or grant maker as to how they may be used, and in accordance with fundraising applications. Unrestricted income is recognised for general use where there is no other specified purpose. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount: Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
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.
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
2. Accounting policies (continued)
2.3 Expenditure (continued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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.
2.5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.6 Financial instruments
The Charity 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.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
3. Income from donations and legacies
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| Period | Period | |
| Ended | Ended | |
| 31 | 31 | |
| December | December | |
| 2023 | 2023 | |
| £ | £ | |
| Donations | 122,356 | 122,356 |
| 4. | Investment income | ||
|---|---|---|---|
| Unrestricted | Total | ||
| funds | funds | ||
| Period | Period | ||
| Ended | Ended | ||
| 31 | 31 | ||
| December | December | ||
| 2023 | 2023 | ||
| £ | £ | ||
| Bank Interest Received | 339 | 339 |
5. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted | ||
|---|---|---|
| funds | Total | |
| Period | Period | |
| Ended | Ended | |
| 31 | 31 | |
| December | December | |
| 2023 | 2023 | |
| £ | £ | |
| Independent examiner's fees | 5,000 | 5,000 |
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
6. Analysis of expenditure by activities
| Support costs Period Ended 31 December 2023 £ Expense in the furtherance of charity activities 5,000 7. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 8. Trustees' remuneration and expenses During the period, no Trustees received any remuneration or other benefits. During the period ended 31 December 2023, no Trustee expenses have been incurred. 9. Creditors: Amounts falling due within one year Accruals and deferred income |
Total funds Period Ended 31 December 2023 £ 5,000 |
|---|---|
| Period Ended 31 December 2023 £ 5,000 |
|
| 2023 £ 5,000 |
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Docusign Envelope ID: 912C4E3E-20C2-40A1-B078-5FF554BCEF08
THE ATRATO FOUNDATION (A Company Limited by Guarantee)
| NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 |
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 |
||
|---|---|---|---|
| 10. Statement of funds Statement of funds - current period Unrestricted funds General Funds - all funds 11. Summary of funds Summary of funds - current period General funds 12. Analysis of net assets between funds Analysis of net assets between funds - current period Current assets Creditors due within one year Total |
Income £ Expenditure £ 122,695 (5,000) Income £ Expenditure £ 122,695 (5,000) Unrestricted funds 2023 £ 122,695 (5,000) 117,695 |
Balance at 31 December 2023 £ 117,695 Balance at 31 December 2023 £ 117,695 Total funds 2023 £ 122,695 (5,000) 117,695 |
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