Company registration number: NI 653547
Global Donations Foundation
Trading as Global Donations Foundation
Company limited by guarantee
Unaudited financial statements
30 June 2022
Global Donations Foundation Company limited by guarantee
| Contents | ||
|---|---|---|
| Page | ||
| Directors and other information | 1 | |
| Directors report | 2 | |
| Examiner's report | 3 | |
| Statement of income and retained earnings | 4 | |
| Statement of financial position | 1 | |
| Notes to the financial statements | 6 - 8 | |
| Detailed Income Statement | 9 |
Global Donations Foundation Company limited by guarantee Directors and other information
| Directors | Christopher Armstrong |
|---|---|
| Edmund Finn | |
| Martin Armstrong | |
| Sarah Bird | |
| Secretary | Christopher Armstrong |
| Company number | NI 653547 |
| Registered office | Innovation Factory |
| Forthriver Business Park | |
| 385 Springfield Road | |
| Belfast | |
| BT12 | |
| Business address | Innovation Factory |
| 385 Springfield Road | |
| Belfast | |
| BT12 7DG | |
| Examiner | Tom Moore |
| Chartered Accountant | |
| 63 Rocwood | |
| Galloping Green | |
| Blackrock |
Page 1
Global Donations Foundation Company limited by guarantee
Directors and other information
Co. Dublin A94 AF83
Bankers
HBSC Royal Avenue Belfast
Page 1
Global Donations Foundation Company limited by guarantee
Directors report Year ended 30 June 2022
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2022.
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.The company's expenses have been funded by International Philanthropy Services Centre Limited.
It is anticipated that the company will become active, when its principal, International Philanthropy Services Centre Limited will commence its activities in the coming year.
Incorporation
The company was incorporated on 7 June 2018
Directors
The directors who served the company during the year were as follows:
Christopher Armstrong
Edmund Finn
Martin Armstrong
Sarah Bird
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on .............................. and signed on behalf of the board by:
Christopher Armstrong
Director
Edmund Finn Director
Page 2
Global Donations Foundation Company limited by guarantee
Directors report Year ended 30 June 2022
Page 2
Global Donations Foundation Company limited by guarantee
Independent examiner's report to the charity trustees of Global Donations Foundation
I report on the accounts of the company for the year ended 30 June 2022, which are set out on pages to .
Respective responsibilities of charity trustees and examiner
As the charity trustees (and also the directors of the company 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. Having satisfied myself 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 65 of the Charities Act
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Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 386 of the Companies Act 2006
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2 That the accounts do not accord with the accounting records
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That the accounts do not comply with the accounting requirements of section 386 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to the charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and in the Republic of Ireland
Page 3
Global Donations Foundation
Company limited by guarantee
- That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Page 3
Global Donations Foundation Company limited by guarantee
Tom Moore Chartered Accountant
63 Rocwood Galloping Green Blackrock Co. Dublin Date
Page 4
Global Donations Foundation
Company limited by guarantee
Statement of income and retained earnings (continued)
Year ended 30 June 2022
| Note Turnover Other operating expenses Operating (loss)/profit (Loss)/profit before taxation Tax on (loss)/profit (Loss)/profit for the financial year and total comprehensive income Retained earnings at the start of the year Retained earnings at the end of the year |
2022 £ - (3,268) _ (3,268) _ (3,268) - _ (3,268) _ (6,902) _ (10,170) |
2021 £ - - _ - _ - - _ - _ (6,902) _ (6,902) |
|---|---|---|
No significant accounting transactions as defined by section 1169 of the Companies Act 2006 occurred in the current year or prior year.
All the activities of the company are from continuing operations.
As these Financial Statements are the first Financial Statements of the company there are no comparative figures.
Page 5
Global Donations Foundation
Company limited by guarantee
Statement of financial position (continued) 30 June 2022
| Note Current assets Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current liabilities Total assets less current liabilities Net liabilities Capital and reserves Profit and loss account Members deficit |
2022 £ £ - _ - (10,170) _ (10,170) _ (10,170) _ (10,170) _ (10,170) _ (10,170) |
2021 £ £ 18 _ 18 (6,920) _ (6,902) _ (6,902) _ (6,902) _ (6,902) _ (6,902) |
|---|---|---|
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
Page 6
Global Donations Foundation Company limited by guarantee
Statement of financial position (continued)
30 June 2022
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue on, and are signed on behalf of the board by:
Christopher Armstrong Edmund Finn Director Director
Company registration number: NI 653547
Page 6
Global Donations Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2022
1. General information
The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Innovation Factory, Forth river Business Park, 385 Springfield Road, Belfast, BT12 .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the basis that the company will have the continued support of International Philanthropy Services Centre Limited, a company registered and resident in the Republic of Ireland.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Page 7
Global Donations Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2022
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Page 7
Global Donations Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2022
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The liability of the members is limited. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one year thereafter, for the payments of the debts and liabilities of the company contracted before they ceased to be members, and of the costs, charges and expenses of the winding up, and for the adjustment of the rights of the contributors among themselves such amount as may be required , but not exceeding £1.
5. Creditors: amounts falling due within one year
2022 2021
£ £
Page 8
Global Donations Foundation Company limited by guarantee
Notes to the financial statements (continued) Year ended 30 June 2022
Amounts owed to group undertakings and undertakings in which the company has a participating interest 10,170 6,920 _ _
Page 8
Global Donations Foundation Company limited by guarantee
Notes to the financial statements (continued)
Year ended 30 June 2022
6. Related party transactions
During the year the company entered into the following transactions with related parties:
| International Philanthropy Services Centre Limited | Transaction value 2022 2021 £ £ - 6,920 |
|---|---|
International Philanthropy Services Centre Limited is a company incorporated and resident in the Republic of Ireland.
Page 9
Global Donations Foundation Company limited by guarantee
Detailed income statement (continued) Year ended 30 June 2022
| Overheads Administrative expenses Operating (loss)/profit (Loss)/profit before taxation |
2022 £ (3,268) _ (3,268) (3,268) (3,268) _ |
|---|---|
Global Donations Foundation Company limited by guarantee
Detailed income statement (continued) Year ended 30 June 2022
2022 £
| Overheads Administrative expenses Rent payable Bank charges Loss on exchange General expenses |
(892) (23) (805) (1,548) _ (3,268) _ |
|---|---|