Blossom Trust - Charities report - 22.2
Blossom Trust - Charities report - 22.2
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
BLOSSOM TRUST |
BLOSSOM TRUST |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 9 |
BLOSSOM TRUST (REGISTERED NUMBER: 07581341) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2022 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The main objective of the charity is women empowerment and supporting and rehabilitating orphaned children in Sri Lanka. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
During the year the company made donations as follows: |
£7,290 (2021: £4,081) to Eastern University, |
£2,503 (2021: £2,543) to Jaffna University, |
£6,104 (2021: £Nil) to House for Poor, |
£131 (2021: £Nil) to Batticoala Project Management, |
£197 (2021: £Nil) to Women Empowerment, |
£3,554 (2021: £2,928) to Community Well & Borewell Projects, |
£Nil (2021: £9,993) to Covid-19 Food Support |
£1,288 (2021: £2,506) to Manikkavasagar Boys Home and |
£464 (2021: £Nil) to Remembrance support |
FINANCIAL REVIEW |
Financial position |
Incoming resources increased from £12,673 in 2021 to £44,698 this year. |
Total expenditure increased from £22,222 in 2021 to £22,561 for the current year. |
The above factors resulted in a surplus of £22,137 for the current year against a deficit of £9,549 for the year ending 31 March 2021. |
The net assets of the company as at 31 March 2022 amounted to £58,940 (2021: £36,802) |
Principal funding sources |
Donations have been used to assist with the company's charitable aims. |
Reserves policy |
It is the policy of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which the trustees think appropriate after considering the future commitments of the charity and the likely administrative costs of the charity for the next year. |
The trust's reserve policy is to keep reserves to a minimum, whilst ensuring it has sufficient reserves to cover anticipated expenditure for a six month period. |
The reserves currently stand at £58,940 and the Trustees are considering a number of projects to support this. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Recruitment and appointment of new trustees |
The trustees are elected by the members of the organisation at the Annual General meeting. The trustees have the power to co-opt persons with a particular skill to contribute to the company. It is not currently the intention of the trustees of the charity to appoint new trustees. Should this situation change in the future, the trustees will apply suitable recruitment and training procedures. |
BLOSSOM TRUST (REGISTERED NUMBER: 07581341) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Related parties |
None of the Trustees receive any remuneration for their services or reimbursement of expenses. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
A Bradstock |
Accura Accountants Ltd |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
BLOSSOM TRUST |
Independent examiner's report to the trustees of Blossom Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors 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 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 accounts 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 accounts to be reached. |
A Bradstock |
Accura Accountants Ltd |
Langley House |
Park Road |
East Finchley |
London |
N2 8EY |
16 December 2022 |
BLOSSOM TRUST |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2022 |
31.3.22 | 31.3.21 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Raising funds | ( |
) |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 36,802 |
BLOSSOM TRUST (REGISTERED NUMBER: 07581341) |
BALANCE SHEET |
31 MARCH 2022 |
31.3.22 | 31.3.21 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 36,802 |
TOTAL FUNDS | 36,802 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
BLOSSOM TRUST |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
The trustees are of the opinion that the charity will receive incoming funds and structure it costs over the next 12 month. They are therefore of the opinion that the charity is a going concern. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | INVESTMENT INCOME |
31.3.22 | 31.3.21 |
£ | £ |
Interest receivable | 4 | 29 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021. |
BLOSSOM TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
4. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.22 | 31.3.21 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Raising funds | ( |
) |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 36,802 |
BLOSSOM TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Accrued expenses |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.21 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 36,803 | 22,137 | 58,940 |
TOTAL FUNDS | 22,137 | 58,940 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 44,698 | (22,561 | ) | 22,137 |
TOTAL FUNDS | ( |
) | 22,137 |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.20 | in funds | 31.3.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 46,351 | (9,549 | ) | 36,802 |
TOTAL FUNDS | 46,351 | (9,549 | ) | 36,802 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 12,673 | (22,222 | ) | (9,549 | ) |
TOTAL FUNDS | 12,673 | (22,222 | ) | (9,549 | ) |
BLOSSOM TRUST |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
7. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.20 | in funds | 31.3.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 46,351 | 12,588 | 58,939 |
TOTAL FUNDS | 46,351 | 12,588 | 58,939 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 57,371 | (44,783 | ) | 12,588 |
TOTAL FUNDS | 57,371 | (44,783 | ) | 12,588 |
8. | RELATED PARTY DISCLOSURES |