Explora Scholarship Fund - Charities report - 21.2

REGISTERED COMPANY NUMBER: 08381653 (England and Wales)

REGISTERED CHARITY NUMBER: 1152232

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30 April 2022

for

Explora Scholarship Fund

Page

Report of the Trustees

1

Statement of Financial Activities

2

Balance Sheet

3

Notes to the Financial Statements

4

to

6

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 30 April 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).

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.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08381653 (England and Wales)

Registered Charity number

1152232

Registered office

Unit 9

Talina Centre

Bagleys Lane

London

SW6 2BW

Trustees

J H Marment

F S Le Carpentier

Approved by order of the board of trustees on 16 January 2023 and signed on its behalf by:

J H Marment - Trustee

30.4.22

30.4.21

Unrestricted

Total

fund

funds

Notes

£

£

EXPENDITURE ON

Other

662

(410

)

NET INCOME/(EXPENDITURE)

(662

)

410

RECONCILIATION OF FUNDS

Total funds brought forward

10,305

9,895

TOTAL FUNDS CARRIED FORWARD

9,643

10,305

30.4.22

30.4.21

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Debtors

6

10,500

10,500

Cash at bank

935

935

11,435

11,435

CREDITORS

Amounts falling due within one year

7

(1,792

)

(1,130

)

NET CURRENT ASSETS

9,643

10,305

TOTAL ASSETS LESS CURRENT LIABILITIES

9,643

10,305

NET ASSETS/(LIABILITIES)

9,643

10,305

FUNDS

Unrestricted funds

9,643

10,305

TOTAL FUNDS

9,643

10,305

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 16 January 2023 and were signed on its behalf by:

J H Marment - Trustee

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.

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.	SUPPORT COSTS

Governance

costs

£

Other resources expended

500

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 April 2022 nor for the year ended 30 April 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 April 2022 nor for the year ended 30 April 2021.

4.	STAFF COSTS

The average monthly number of employees during the year was as follows:

30.4.22

30.4.21

Trustees

2

2

No employees received emoluments in excess of £60,000.

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

EXPENDITURE ON

Other

(410

)

NET INCOME

410

RECONCILIATION OF FUNDS

Total funds brought forward

9,895

TOTAL FUNDS CARRIED FORWARD

10,305

6.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Other debtors

10,500

10,500

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

30.4.21

£

£

Other creditors

792

630

Accruals and deferred income

1,000

500

1,792

1,130

8.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 April 2022.