Liberis Charity Charity Accounts

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COMPANY REGISTRATION NUMBER: 08311569

CHARITY REGISTRATION NUMBER: 1152980

Liberis Charity

Company Limited by Guarantee

Unaudited Financial Statements

31 March 2019

Liberis Charity

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2019

	Page

Trustees' annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	3

Statement of financial position	4

Notes to the financial statements	5

Liberis Charity

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2019

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2019 .

Reference and administrative details

Registered charity name	Liberis Charity

Charity registration number	1152980

Company registration number	08311569

Principal office and registered	19 New Road
office	Stokenchurch
	High Wycombe
	Buckinghamshire
	HP14 3RT

The trustees

	Mr HA Bhatiani
	Mr JS Baryah
	Mr M Leake
	Mr N A Prag
	Mr Y Jhandey
	Mr S Virk

Accountants	Chartwell Accountants & Business Consultants LLP
	Chartered Certified Accountants
	47 Bury New Road
	Prestwich
	Manchester
	M25 9JY

Structure, governance and management

Liberis Charity was incorporated on the 28th November 2012 as a company Limited by Guarantee with company number 08311569. it was initially registered using the name Future 4 Children. This was changed to Future 4 Disabled Children on 28th June 2013 and then changed again to Liberis Charity on 31st December 2013. It was registered as a charity with the Charities Commission on the 22nd July 2013 governed by its Articles of Association. The charity registration number is 1152980.

Risk review

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage exposure to such risks

Objectives and activities

The objectives of the charity are to promote social inclusion for the public benefit by preventing children with disability or ill health from becoming socially excluded; relieving the needs of those people who are socially excluded and assisting them to integrate into society by providing or paying toward the provision of appropriate facilities and resources for their day to day living and education.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

Achievements and performance

During the period the charity raised £3,434 in donations. During the period grants of £4,250 were made to various organisations which was a significant increase on the previous year.

As in previous years the charity continues to have very low running costs as all office expenses are covered by the Trustees.

Financial review

The Trustees are satisfied with the current financial position of the charity and are confident that they will be able to continue to provide support in line with the objectives.

Reserves policy

The trustees have reviewed the reserves and future requirements of the charity. All future needs are considered together with any risks or contingencies that may exist. The trustees are confident that sufficient reserves will be generated to achieve the objectives of the charity.

Plans for future periods

Following the success of the first fundraising event held on behalf of the charity the Trustees intend to hold similar events in the future.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 4 July 2019 and signed on behalf of the board of trustees by:

Mr HA Bhatiani

Trustee

Liberis Charity

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2019

	2019		2018
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	3,434	3,434	3,224
		-------	-------	-------
Total income		3,434	3,434	3,224
		-------	-------	-------

Expenditure

Expenditure on charitable activities	6,7	4,593	4,593	1,843
		-------	-------	-------
Total expenditure		4,593	4,593	1,843
		-------	-------	-------

	-------	-------	-------
Net (expenditure)/income and net movement in funds	( 1,159)	( 1,159)	1,381
	-------	-------	-------

Reconciliation of funds

Total funds brought forward	2,927	2,927	1,546
	-------	-------	-------
Total funds carried forward	1,768	1,768	2,927
	-------	-------	-------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Liberis Charity

Company Limited by Guarantee

Statement of Financial Position

31 March 2019

	2019		2018
Note	£	£	£

Current assets

Debtors	12	–	1,324
Cash at bank and in hand		2,111	1,946
		-------	-------
		2,111	3,270

Creditors: amounts falling due within one year	13	343		343
		-------		-------
Net current assets			1,768	2,927
			-------	-------
Total assets less current liabilities			1,768	2,927
			-------	-------
Net assets			1,768	2,927
			-------	-------

Funds of the charity

Unrestricted funds		1,768	2,927
		-------	-------
Total charity funds	14	1,768	2,927
		-------	-------

For the year ending 31 March 2019 the charity 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 4 July 2019 , and are signed on behalf of the board by:

Mr HA Bhatiani

Trustee

Liberis Charity

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 19 New Road, Stokenchurch, High Wycombe, Buckinghamshire, HP14 3RT.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

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 income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in 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 income and expenditure. 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 the statement of financial activities, 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 under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised 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 Company is limited by guarantee and does not have share capital. In the event of the Company being wound up the members are required to contribute an amount not exceeding £10.

5. Donations and legacies

Unrestricted Funds	Total Funds 2019	Unrestricted Funds	Total Funds 2018
£	£	£	£

Donations

Donations received	3,434	3,434	3,224	3,224
	-------	-------	-------	-------

6. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2019	Unrestricted Funds	Total Funds 2018
	£	£	£	£
Grants to institutions	4,250	4,250	1,500	1,500
Support costs	343	343	343	343
	-------	-------	-------	-------
	4,593	4,593	1,843	1,843
	-------	-------	-------	-------

7. Expenditure on charitable activities by activity type

	Grant funding of activities	Support costs	Total funds 2019	Total fund 2018
	£	£	£	£
Grants to institutions	4,250	–	4,250	1,500
Governance costs	–	343	343	343
	-------	----	-------	-------
	4,250	343	4,593	1,843
	-------	----	-------	-------

8. Analysis of support costs

	Analysis of support costs activity 1	Total 2019	Total 2018
	£	£	£
Governance costs	343	343	343
	----	----	----

9. Analysis of grants

	2019	2018
	£	£

Grants to institutions

Grants to institutions	4,250	1,500
	-------	-------
Total grants	4,250	1,500
	-------	-------

10. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2019	2018
	£	£

The average head count of employees during the year was Nil (2018: Nil).

No employee received employee benefits of more than £60,000 during the year (2018: Nil).

11. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

12. Debtors

	2019	2018
	£	£
Other debtors	–	1,324
	----	-------

13. Creditors: amounts falling due within one year

	2019	2018
	£	£
Accruals and deferred income	343	343
	----	----

14. Analysis of charitable funds

Unrestricted funds

	At 1 April 2018	Income	Expenditure	At 31 March 2019
	£	£	£	£
General funds	2,927	3,434	(4,593)	1,768
	-------	-------	-------	-------

	At 1 April 2017	Income	Expenditure	At 31 March 2018
	£	£	£	£
General funds	1,546	3,224	(1,843)	2,927
	-------	-------	-------	-------