**FATHER LOVE TRUST Annual Report & Financial Statements For the year ended 31st March 2024**
**REGISTERED CHARITY No. 283697**
## **FATHER LOVE TRUST For the year ended 31st March 2024**
|**CONTENTS**|**Page**|
|---|---|
|Reference and Administrative Details|2|
|Statements of Trustees' Responsibilities|3|
|Independent Examiners Report|4|
|Receipts and Payments Account|5|
|Balance sheet|6|
|Notes to the financial statement|7|
Page 1
## **FATHER LOVE TRUST For the year ended 31st March 2024**
## **Reference and Administrative Details**
## **Trustees**
LLOYD PARKINSON Bridgit Parkinson Yvette Smith
## **Principal Office**
416 SEVEN SISTERS ROAD LONDON N4 2LX
## **Accountant**
Taxcorrect Accountants Ltd 34 Long meadow Riverhead, Sevenoaks Kent TN13 2QY
Page 2
## **FATHER LOVE TRUST For the year ended 31st March 2024**
## **Statements of Trustees' Responsibilities**
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which 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;
- 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 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
## Lloyd Parkinson
________________________ Lloyd Parkinson (Apr 29, 2025 22:50 GMT+1) Approved by : LLOYD PARKINSON Date : 04/29/2025
Page 3
## **FATHER LOVE TRUST For the year ended 31st March 2024**
## **Independent Examiners Report**
I report on the accounts of the Trust For the year ended 31 March 2024 which are set out on page 1
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charites Act 2011 ("the charities act") and that an independent examination is needed.
## It is my responsibility to:
- Examine the accounts under section 145 of the Charities Act,
- to Follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the charities Act, and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with 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 the account, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
## **Independent examiner's report**
I have completed my examination based on the records provided by the trustee. I confirm that no material matters have come to my attention in connection with the examination of the bank transactions provided in the excel.
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.
## **Taxcorrect Accountants Ltd**
34 Long meadow Riverhead, Sevenoaks Kent TN13 2QY
Page 4
## **FATHER LOVE TRUST Receipts and Payments Account For the year ended 31st March 2024**
|**General Funds:-**
**Receipts**
Rents Received
**Payments**
Education supplies
Wages and salaries
Pensions
Staff training and welfare
Rates
Light and heat
Cleaning
Telephone and fax
Internet
Stationery and printing
Subscriptions
Insurance
Equipment expensed
Software
Repairs and maintenance
Depreciation
Sundry expenses
Accountancy fees
Other legal and professional
**Other operating income**
Other operating income
Government grants
**Net Incoming Resources for the reporting period**
Total Resources Brought Forward
**Total Resources carry forward**|**2024**
**£**
**72,833**
1,504
90,183
3,202
571
8,497
23,692
3,470
840
1,148
410
-
3,733
-
3,119
20,752
4,235
-
900
6,488
**172,744**
-
108,998
**108,998**
**9,087**
147,285
**156,372**|**2023**
**£**
**111,875**
-
94,711
1,481
-
4,225
17,420
3,191
881
1,129
783
-
4,184
-
1,170
17,615
4,235
898
-
14,061|
|---|---|---|
|||**165,984**|
|||-
83,073|
|||**83,073**|
||||
|||**28,964**|
|||118,321|
|||**147,285**|
The trustees approve the Receipts and Payments Account and confirm that they have made available all relevant records and information for its preparation.
Lloyd Parkinson Lloyd Parkinson (Apr 29, 2025 22:50 GMT+1) on behalf of the trustees
Mr LLOYD PARKINSON
## 04/29/2025
Date
Page 5
## **FATHER LOVE TRUST Balance sheet For the year ended 31st March 2024**
|**Fixed assets**
Tangible assets
**Current assets**
Cash at bank and in hand
**Net current assets**
**Current Labilities**
**Net assets**
**Total Resources carry forward**|**2024**
**£**
9,941
147,331
**157,272**
900
**156,372**
**156,372**
-|**2023**
**£**
14,176
133,109|
|---|---|---|
|||**147,285**|
|||-|
|||**147,285**|
||||
|||**147,285**|
||||
_The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies._
_The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006._
_The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts._
_These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP._
## Lloyd Parkinson
~~Lloyd Parkinson (Apr 29, 2025 22:50 GMT+1)~~
on behalf of the trustees Mr LLOYD PARKINSON
## 04/29/2025
Date
Page 6
## **FATHER LOVE TRUST For the year ended 31st March 2024**
## **Notes to the financial statement**
## **1 Accounting policies Charity information**
The Charity is a registered charity in England and Wales and is unincorporated.
## **2 Accounting convention**
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 Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Charity 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 financial statements are prepared in sterling, which is the functional currency of the Charity. The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
## **3 Charitable funds**
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. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **4 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. 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. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **5 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 Charity's objectives, as well as any associated support costs.
## **6 Tangible fixed assets and depreciation**
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Page 7
Fixtures & fittings 5 years life Computer equipment 20% Straight line
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