SACRED SPACE FOUNDATION
REGISTERED NUMBER 2449176
CHARITY NUMBER 328449
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30th SEPTEMBER 2020
SACRED SPACE FOUNDATION Page 1
INDEX TO THE FINANCIAL STATEMENTS
PAGE
Company Information 1
Report of the Trustees 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5
Detailed Statement of Financial Activities 9
Accountants Report 10
COMPANY INFORMATION
CHAIRMAN: Professor S.G.Wright
SECRETARY: J.Sayre-Adams
REGISTERED OFFICE: C/o Stuart Oake Ltd
Suite 8
Cumbria House
Gilwilly Industrial House
Penrith
Cumbria
CA11 9FF
REGISTERED NUMBER: 2449176
ACCOUNTANTS: Stuart Oake Ltd
Chartered Accountants
Suite 8
Cumbria House
Gilwilly Industrial Estate
Penrith
CA11 9FF
SACRED SPACE FOUNDATION Page 2
REPORT OF THE TRUSTEES
for theyear ended30th September 2020
The trustees present their report and the financial statements for the
year ended 30th September 2020.
Principal Activity
The principal activity of the charity is the promotion of the healing
arts in health care and the provision of support to health care
professionals.
Activity Report
The charity has generated a surplus for the year.
Directors
The director who served the company during the year was:
Professor S Wright.
STATEMENT OF DIRECTORS RESPONSIBILITIES
The directors are responsible for preparing the annual report and the
accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for
each financial year.
Under that law the directors have elected to prepare the accounts in
accordance with United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting Standards and applicable law). The accounts
are required by law to give a true and fair view of the state of affairs
of the company and of the profit or loss of the company for the period.
In preparing these accounts, the directors are required to
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
comply with applicable accounting standards 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 directors are responsible for maintaining proper accounting records
which disclose with reasonable accuracy at any time the financial
position of the company and to 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
The above report has been prepared in accordance with the small
companies regime of the Companies Act 2006.
By order of the Board
J. Sayre-Adams
Company Secretary
6th November 2020
SACRED SPACE FOUNDATION Page 3
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30th SEPTEMBER 2020
2020 2019
Unrestricted Restricted
Funds Funds Total Total
£ £ £ £
INCOMING RESOURCES
Grants & Donations Received 64,081 - 64,081 104,762
Activities to Generate Funds 537 - 537 589
_________ ______ ________ ________
TOTAL INCOMING RESOURCES 64,618 - 64,618 105,351
RESOURCES EXPENDED
Costs of generating funds 6,516 - 6,516 9,654
Charitable activities 49,248 - 49,248 59,169
Governance Costs 1,000 - 1,000 1,000
_________ ______ ________ ________
TOTAL RESOURCES EXPENDED 56,764 - 56,764 69,823
_________ ______ ________ ________
NET INCOMINGS RESOURCES 7,854 - 7,854 35,528
BALANCES BROUGHT FORWARD 444,223 - 444,223 408,695
_________ ______ ________ ________
BALANCES CARRIED FORWARD £452,077 £- £452,077 £444,223
The statement of financial activities includes all gains and losses
recognised in the year.
All incoming resources and resources expended derive from continuing
activities.
SACRED SPACE FOUNDATION Page 4
BALANCE SHEET at 30th SEPTEMBER 2020
2020 2019
Notes £ £
FIXED ASSETS
Tangible assets 5 513,078 514,866
CURRENT ASSETS
Stocks 500 1,000
Cash at bank and in hand 5,657 11,165
_________ _________
6,157 12,165
CREDITORS: amounts falling due
within one year 6 (21,661) (23,029)
_________ _________
NET CURRENT LIABILITIES (15,504) (10,864)
_________ _________
TOTAL ASSETS LESSCURRENT LIABILITIES 497,574 504,002
CREDITORS: amounts falling due
after more than one year 7 (45,497) (59,779)
_________ _________
£452,077 £444,223
_________ _________
FUNDS
Unrestricted Funds 8 452,077 444,223
Restricted Funds 8 - -
_________ _________
£452,077 £444,223
_________ _________
The company is entitled to exemption from audit under Section 477 of the
Companies Act 2006 relating to small companies for the year ending 30th
September 2020.
Directors responsibilities:
a) The members have not required the company to obtain an audit of its
accounts for the year in question in accordance with section 476; and
b) The directors acknowledge their responsibilities for complying with
the requirements of the Act with respect to accounting records and the
preparation of accounts.
These accounts have been prepared in accordance with provisions
applicable to companies subject to the small companies regime.
Approved by the Board on 6th November 2020
Professor S.Wright - Chairman
SACRED SPACE FOUNDATION Page 5
NOTES TO THE FINANCIAL STATEMENTS
for theyear ended30th SEPTEMBER 2020
1. ACCOUNTING POLICIES
Statement of Compliance
The financial statements are 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), Accounting and Reporting by Charities (SORP 2005) issued in March
2005, applicable accounting standards and the Companies Act 2006.
Basis of preparation
The charitable company 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 notes.
Incoming Resources
Income from donations and grants is included in incoming resources when
these are receivable.
Interest Receivable
Interest is included when receivable by the charity.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write
off each asset over its estimated useful life:
Plant and Machinery - at 20% per annum on a reducing basis
Fixtures and Fittings - at 20% per annum on a reducing basis
Taxation
The company is a registered charity and is exempt from taxation.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and
other short-term highly liquid investments that are readily convertible
to a known amount of cash and are subject to an insignificant risk of
change in value.
SACRED SPACE FOUNDATION Page 6
NOTES TO THE FINANCIAL STATEMENTS
for theyear ended30th SEPTEMBER 2020
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or
services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They
are subsequently measured at amortised cost using the effective interest
method, less provision for impairment. A provision for the impairment of
trade debtors is established when there is objective evidence that the
Company will not be able to collect all amounts due according to the
original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have
been acquired in the ordinary course of business from suppliers.
Accounts payable are classified as current liabilities if the Company
does not have an unconditional right, at the end of the reporting
period, to defer settlement of the creditor for at least twelve months
after the reporting date. If there is an unconditional right to defer
settlement for at least twelve months after the reporting date, they are
present as non-current liabilities.
Trade creditors are recognised initially at the transaction price and
subsequently measured at amortised cost using the effective interest
method.
2. INCOMING RESOURCES
All income is derived from the UK.
3. OPERATING PROFIT
The operating profit is stated after charging:
2020 2019
£ £
Depreciation - Owned Assets 1,788 2,234
Directors Remuneration - -
_______ _______
4. TAXATION
No liability to UK Corporation tax arose on ordinary activities for the
year as the company is a registered charity.
SACRED SPACE FOUNDATION Page 7
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th SEPTEMBER 2020
5. TANGIBLE FIXED ASSETS
£ £ £ £
COST
At 1st October 2019 37,318 6,520 505,927 549,765
Additions - - - -
________ _______ ________ ________
At 30th September 2020 37,318 6,520 505,927 549,765
________ _______ ________ ________
DEPRECIATION
At 1st October 2019 29,544 5,355 - 34,899
Charge for the Year 1,555 233 - 1,788
________ _______ ________ ________
At 30th September 2020 31,099 5,588 - 36,687
________ _______ ________ ________
NET BOOK VALUE
At 30th September 2020 £6,219 £932 £505,927 £513,078
________ _______ ________ ________
At 30th September 2019 £7,774 £1,165 £505,927 £514,866
________ _______ ________ ________
6. CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
2020 2019
£ £
Bank Loan 5,890 6,498
Other Creditors 12,221 12,881
Accruals and Deferred Income 3,550 3,650
________ ________
£21,661 £23,029
________ ________
The bank loan is secured on the property owned by the trust.
SACRED SPACE FOUNDATION Page 8
NOTES TO THE FINANCIAL STATEMENTS for the year ended 30th SEPTEMBER 2020
7. CREDITORS: Amounts falling due after more than one Year
2020 2019
£ £
Bank Loan £45,497 £59,779
________ ________
The bank loan is repayable at £749 per month. This amount includes both
interest and capital.
8. RECONCILIATION OF MOVEMENTS IN FUNDS:
Unrestricted Restricted
Fund Fund Total
£ £ £
Opening Funds 444,223 - 444,223
Surplus for the year 7,854 - 7,854
_________ _______ _________
Closing Funds £452,077 - £452,077
_________ _______ _________
SACRED SPACE FOUNDATION Page 9
STATEMENT OF FINANCIAL ACTIVITIES
for theyear ended30th SEPTEMBER 2020
2020 2019
£ £ £
INCOMING RESOURCES
Grants & Donations Received 64,081 104,762
Sales & Sundry Income 537 589
_________ _________
64,618 105,351
Expenditure:
Provisions 2,916 4,854
Salaries 3,600 4,800
Travel, Subsistence & Venue Costs 35,522 31,853
Telephone 25 545
Printing, Stationery & Postage 260 474
Heat & Light 2,091 3,040
Repairs, Renewals & Gardening 635 9,010
Cleaning 2,116 2,378
Insurance 2,104 2,271
Rates & Water 2,115 2,226
Sundry Expenses 261 1,653
Bank Charges 191 295
Bank Loan Interest 2,140 3,190
Accountancy Fees 1,000 1,000
Depreciation 1,788 2,234
________ ________
56,764 69,823
________ ________
NET INCOMING RESOURCES FOR THE YEAR £7,854 £35,528
________ ________
This page does not form part of the statutory financial statements
SACRED SPACE FOUNDATION Page 10
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SACRED SPACE FOUNDATION
We report on the accounts of the Trust for the year ended 30th September
2020 which are set out on pages 3 to 9.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The trustees and the director are responsible for the preparation of the
accounts. The trustees consider that an audit is not required for this
year section 144 of the Charities Act 2011 (the 2011 Act).
Having satisfied ourselves that the charity is not subject to audit
under company law and is eligible for independent
examination, it is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the General Directions given by the
Charity Commission under section 145 (5) (b) of the 2011 Act; and
state whether particular matters have come to our attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
Our examination was carried out in accordance with the General
Directions given by the Charity Commissioners for England & Wales. 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 accounts, and seeking explanations from you as trustees concerning
any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audit, and consequently we do not
express an audit opinion on the view given by the accounts.
INDEPENDENT EXAMINER'S STATEMENT
In connection with our examination, no material matters have come to our
attention which gives us reasonable cause to believe that in any
material respect:
to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of Section 393 of the Companies Act 2006 and with the methods and principals of the Statement of Recommended Practice: Accounting and Reporting by Charities under Regulations 2008.
We have come across no other matters in connection with the examination
to attention should be drawn in this report in order to enable a proper
understanding of the accounts to be reached.
Stuart Oake Ltd
Chartered Accountants
Suite 8, Cumbria House
Gilwilly Industrial Estate
Penrith
6th November 2020