**Charity registration number 328537**
**Company registration number 02463858 (England and Wales)**
## **HOMEOPATHY ACTION TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023**
## **HOMEOPATHY ACTION TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Ms M T Wyatt J M Pearce-Dickens K Burridge M R Williams (Appointed 3 July 2023) **Charity number** 328537 **Company number** 02463858 **Registered office** Unit F Whiteacres Cambridge Road Whetstone Leicestershire LE8 6ZG **Independent examiner** Tessa Fowler BA FCA C/o HSP Tax & Accounts Ltd Whiteacres Cambridge Road Whetstone Leicestershire LE8 6ZG
## **HOMEOPATHY ACTION TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Statement of trustees' responsibilities|3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the accounts|7 - 12|
## **HOMEOPATHY ACTION TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
The trustees present their annual report and financial statements for the year ended 30 June 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
## **Objectives and activities**
The charity's principle objective is the promotion of homeopathy through funding of education.
The policies adopted in furtherance of these objects are:
- to promote homeopathic education and enable students to study who are in financial need and to help recent graduates establish a practice
- making grants to students for books to enable them to study
- making bursaries to students in financial need
- making grants to recent graduates of homeopathic colleges to enable them to establish a practice
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
Charitable activities:
The charity has gone through a few changes in the past year, with two changes in Chair; it is in the process of updating its memorandum and articles, which is currently being worked on by the Solicitors. It has refined what its purpose is and will be concentrating on homeopathic education and helping recent graduates establish a practice.
## **Financial review**
The charity received a large legacy which will enable the charity to support its objectives.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The remainder of the funds will be put into high interest accounts, so that our reserves are maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
The charity is controlled by its governing document, a deed of trust, and constitutes a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mrs D C Brindley (Resigned 20 June 2023) Ms M T Wyatt J M Pearce-Dickens J C Anderberg (Resigned 23 October 2023) K Burridge M R Williams (Appointed 3 July 2023)
- 1 -
## **HOMEOPATHY ACTION TRUST**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
Trustees are appointed following a successful interview, and after both signing a contract setting out rights and responsibilities, and agreeing to abide by a model code of conduct based on the Nolan principles. The Trustees delegate the responsibility of ensuring policies and procedures are carried out and the operational management of the charity to the Executive Director.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Ms M T Wyatt
## **Trustee**
29 March 2024
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## **HOMEOPATHY ACTION TRUST**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 30 JUNE 2023**_
The trustees, who are also the directors of Homeopathy Action Trust for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that 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.
- 3 -
## **HOMEOPATHY ACTION TRUST**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOMEOPATHY ACTION TRUST**
I report to the trustees on my examination of the financial statements of Homeopathy Action Trust (the charity) for the year ended 30 June 2023.
## **Responsibilities and basis of report**
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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
- 4 the financial statements 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 financial statements to be reached.
## **Tessa Fowler BA FCA**
C/o HSP Tax & Accounts Ltd Whiteacres Cambridge Road Whetstone Leicestershire LE8 6ZG
Dated: 29 March 2024
- 4 -
## **HOMEOPATHY ACTION TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 JUNE 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
852,507
-
Investments
**3**
399
-
**Total income**
852,906
-
**Expenditure on:**
Raising funds
**4**
750
-
Charitable activities
**5**
9,018
7,800
**Total resources expended**
9,768
7,800
**Net income/(expenditure) for the year/**
**Net movement in funds**
843,138
(7,800)
Fund balances at 1 July 2022
26,153
36,407
**Fund balances at 30 June 2023**
869,291
28,607|**Total**
**2023**
**£**
852,507
399
852,906
750
16,818
17,568
835,338
62,560
897,898|Total
2022
**£**
23,259
29|
|---|---|---|
|||23,288|
|||750|
|||5,930|
|||6,680|
|||16,608
45,952|
|||62,560|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **HOMEOPATHY ACTION TRUST**
## **BALANCE SHEET**
## _**AS AT 30 JUNE 2023**_
|**Notes**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Income funds**
Restricted funds
**12**
Unrestricted funds|**2023**
**£**
844,904
54,281
899,185
(1,287)|**£**
897,898
28,607
869,291
897,898|**2022**
**£**
155
63,366
63,521
(961)|**£**
62,560|
|---|---|---|---|---|
|||||36,407
26,153|
|||||62,560|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 29 March 2024
Ms M T Wyatt **Trustee**
## **Company registration number 02463858**
- 6 -
## **HOMEOPATHY ACTION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 JUNE 2023**_
## **1 Accounting policies**
## **Charity information**
Homeopathy Action Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit F, Whiteacres, Cambridge Road, Whetstone, Leicestershire, LE8 6ZG.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
All income is recognised when the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **1.5 Resources expended**
Expenditure is recognised as soon as a liability is probable.
Grants payable are recognised when payment is due.
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## **HOMEOPATHY ACTION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
## **2 Donations and legacies**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|
||**funds**|**funds**|**funds**||
||**2023**|**2022**|**2022**|**2022**|
||**£**|**£**|**£**|**£**|
|Donations and gifts|851,556|5,900|16,500|22,400|
|Membership fees|951|859|-|859|
## **3 Investments**
|**4**|**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Interest receivable
399
29
**Raising funds**
**2023**
**2022**
**£**
**£**
Fundraising and publicity
Other fundraising costs
750
750
750
750|**Unrestricted Unrestricted**
**funds**
**funds**
**2023**
**2022**
**£**
**£**
Interest receivable
399
29
**Raising funds**
**2023**
**2022**
**£**
**£**
Fundraising and publicity
Other fundraising costs
750
750
750
750|
|---|---|---|
|||**2022**
**£**
750|
|||750|
- 8 -
## **HOMEOPATHY ACTION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
## **5 Charitable activities**
|**General**
**expenses**
**Research**
**and project**
**funding**
**2023**
**2023**
**£**
**£**
Finance manager fee, including serviced office
1,093
-
Website costs
844
-
Postage, stationery, telephone and sundries
212
-
Insurance
444
-
Accountancy
612
-
Bank charges
138
-
Administration costs
2,255
-
Professional/Consultancy fees
2,920
-
8,518
-
Grant funding of activities (see note 6)
-
8,300
8,518
8,300
**Analysis by fund**
Unrestricted funds
8,518
500
Restricted funds
-
7,800
8,518
8,300|**Total**
**2023**
**£**
1,093
844
212
444
612
138
2,255
2,920
8,518
8,300
16,818
9,018
7,800
16,818|**Total**
**2022**
**£**
2,999
245
627
349
572
138
-
-|
|---|---|---|
|||4,930
1,000|
|||5,930|
|||5,930
-|
|||5,930|
## **6 Grants payable**
||**Research**|**Research**|
|---|---|---|
||**and project**|**and project**|
||**funding**|**funding**|
||**2023**|**2022**|
||**£**|**£**|
|Grants to institutions:|||
|2 Grants to South Downs School of Homeopathy|-|1,000|
|4 Donations to Homeopathy for Living|7,800|-|
|Bursary to Townsend NW College of Homeopathy|500|-|
||8,300|1,000|
-
## **7 Trustees**
One Trustee was paid £712 (2022: £Nil), in respect of fees for the administration of the charity.
- 9 -
## **HOMEOPATHY ACTION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
## **8 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
## **9 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **10 Debtors**
|**10**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Other debtors
**11**
**Creditors: amounts falling due within one year**
Other creditors|**2023**
**£**
844,904
**2023**
**£**
1,287|**2022**
**£**
155|
|||**2022**
**£**
961|
- 10 -
**HOMEOPATHY ACTION TRUST**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
## **12 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|||**Movement**|**in funds**||
|---|---|---|---|---|
||**Balance at 1**|**Incoming**|**Resources**|**Balance at 30**|
||**July 2022**|**resources**|**expended**|**June 2023**|
||**£**|**£**|**£**|**£**|
|Cancer Fund|7,432|-|-|7,432|
|Homeopathy Wood|293|-|-|293|
|The Tanner Trust|16,500|-|(7,800)|8,700|
|Library Fund|11,828|-|-|11,828|
|Stephen Gordon|354|-|-|354|
||36,407|-|(7,800)|28,607|
The restricted funds are as set out below:
## **Cancer Fund:**
This fund supports the use of homeopathy with cancer. The Trust funded a Cancer Support Project, which published a positive user-outcome study.
## **Homeopathy Wood:**
The Wood, situated at Sywell Country Park, Northamptonshire, is a living collection of homeopathic remedies. Currently we have over 1000 individually sponsored trees and encourage further donations to the Wood or the gifts of single trees or a group of 3 trees.
## **The Tanner Trust:**
The Tanner Trust money was donated for the basis of funding a specific project, Homeopathy for Living, an education programme to teach Homeopathic First Aid to the public.
## **Library Fund:**
This is a Fund to house and make available homeopathy books, currently in storage.
## **Stephen Gordon Fund:**
A fund for donations towards a memorial to Stephen Gordon FSHom, a founding pillar of the Society of Homeopaths and the European Central Council of Homeopaths, who sadly passed away on 8 July 2017. Stephen worked tirelessly to speak up for homeopathy and we owe him an eternal debt of gratitude for his vision, energy and commitment.
- 11 -
## **HOMEOPATHY ACTION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2023**_
## **13 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2023**
**2023**
**£**
**£**
Fund balances at 30 June 2023 are represented
by:
Current assets/(liabilities)
869,291
28,607
869,291
28,607|**Total**
**2023**
**£**
897,898
897,898|Total
2022
£
62,560|
|||62,560|
## **14 Coronavirus pandemic**
As noted in previous accounts, in the spring of 2020 there was an outbreak of Coronavirus which developed into a global pandemic. The resultant restrictions impacted the way the charity works.
Throughout the year, the trustees keep the position under close review and made business decisions based on their assessment of current and future developments. The trustees are of the opinion that the healthy levels of reserves are sufficient for the charity to continue to fulfil its objectives over the next 12 months.
- 12 -