``` 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 ```