Charles Sharland Trust Charity Accounts

CHARLES SHARLAND TRUST - Company Information

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COMPANY REGISTRATION NUMBER: 8350157

CHARITY REGISTRATION NUMBER: 1155216

Charles Sharland Trust

Company Limited by Guarantee

Unaudited Financial Statements

31 January 2023

Charles Sharland Trust

Company Limited by Guarantee

Financial Statements

Year ended 31 January 2023

	Page

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

Statement of financial activities (including income and expenditure account)	4

Statement of financial position	5

Notes to the financial statements	6

Charles Sharland Trust

Company Limited by Guarantee

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

Year ended 31 January 2023

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 January 2023 .

Reference and administrative details

Registered charity name	Charles Sharland Trust

Charity registration number	1155216

Company registration number	8350157

Principal office and registered	2nd Floor Parkgates
office	Bury New Road
	Prestwich
	Manchester
	M25 0TL

The trustees

	Mrs G Hazley
	C Sharland

Accountants	Haffner Hoff Ltd
	Accountants
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL

Structure, governance and management

Charles Sharland Trust is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 07 January 2013 as a company and the company number is 8350157 . It was registered as a charity on 07 January 2014 with a charity number 1155216 .

Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.

There are no policies for the induction or training of new trustees.

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 charity, and are satisfied that systems are in place to manage our exposure to the major risks.

The risks faced by the charity are principally operational risks from ineffective grant making. These risks are managed by the trustees researching potential beneficiaries before granting donations.

Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all grants.

Objectives and activities

The objects of the charity are: (1) For the public benefit to promote the education of people of all ages around the world in such ways as the charity trustees think fit, including awarding to such persons scholarships, maintenance allowances or grants; or by grants to charities or other organisations worldwide that provide education; (2) The prevention or relief of poverty or financial hardship anywhere in the world by providing: grants or loans to individuals in need and/or charities, or other organisations working to prevent or relieve poverty or financial hardship; (3) To promote and protect the physical and mental health of sufferers of autism in the UK through the provision of financial assistance.

Public benefit

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

Grant making policy

The aims of the charity are to grant funds in line with its objectives at a steady level over the coming years.

The charity fulfils these objectives by granting donations to other charities and organisations. Grants are provided on a first-come first-served basis to charities with objectives in line with those of this charity. By providing this funding, the charity achieves its objectives.

There were no grants paid to individuals during the year.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

The charity received £nil in donations during the year and £86,936 was paid out by way of grants and support costs.

No other income was received by the charity during the year.

The charity had a bank balance at the year end of £101,276 (2022: £188,212) which the trustees are actively granting to other charities and organisations in line with its objectives. These reserves are all unrestricted.

The charity has low governance costs comprising professional fees.

All other office costs are borne by the trustees.

There were no material fundraising costs during the year.

Related party transactions are disclosed as applicable in the notes to the accounts.

There was an overall net expenditure and net movement in funds for the year amounting to £86,936.

Financial review

The trustees consider this year to be in line with the plan to pay out substantial grants each year from the initial sum donated a few years ago. The charity has made valuable contributions to other charities in line with the memorandum and articles of association.

Reserves policy

The Unrestricted Fund represents the unrestricted funds arising from past operating results.

In considering the limited financial obligations of the charity, the trustees have resolved to maintain a minimum reserve roughly equal to the net current assets of the charity.

The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against grants payable.

The trustees are delighted to have made many valuable contributions to the community as a result of this income and hope to be able to do so for many years to come.

The free reserves, represented by the net current assets of the charity stand at £100,376 all of which are unrestricted.

The trustees' annual report and the strategic report were approved on 30 October 2023 and signed on behalf of the board of trustees by:

Mrs G Hazley	C Sharland
Trustee	Trustee

Charles Sharland Trust

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 January 2023

	2023		2022
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Expenditure

Expenditure on charitable activities	5,6	86,936	86,936	163,436
		--------	--------	---------
Total expenditure		86,936	86,936	163,436
		--------	--------	---------

	--------	--------	---------
Net expenditure and net movement in funds	( 86,936)	( 86,936)	( 163,436)
	--------	--------	---------

Reconciliation of funds

Total funds brought forward	187,312	187,312	350,748
	---------	---------	---------
Total funds carried forward	100,376	100,376	187,312
	---------	---------	---------

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

All income and expenditure derive from continuing activities.

Charles Sharland Trust

Company Limited by Guarantee

Statement of Financial Position

31 January 2023

	2023		2022
Note	£	£	£

Current assets

Cash at bank and in hand	101,276		188,212

Creditors: amounts falling due within one year	11	900		900
		---------		---------
Net current assets			100,376	187,312
			---------	---------
Total assets less current liabilities			100,376	187,312
			---------	---------
Net assets			100,376	187,312
			---------	---------

Funds of the charity

Unrestricted funds		100,376	187,312
		---------	---------
Total charity funds	12	100,376	187,312
		---------	---------

For the year ending 31 January 2023 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 30 October 2023 , and are signed on behalf of the board by:

Mrs G Hazley	C Sharland
Trustee	Trustee

Charles Sharland Trust

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 January 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is 2nd Floor Parkgates, Bury New Road, Prestwich, Manchester, M25 0TL.

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 did not require management to make judgements, estimates or assumptions that affect the amounts reported.

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

Charles Sharland Trust is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.

5. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2023	Unrestricted Funds	Total Funds 2022
	£	£	£	£
Charitable grants	86,000	86,000	162,500	162,500
Support costs	936	936	936	936
	--------	--------	---------	---------
	86,936	86,936	163,436	163,436
	--------	--------	---------	---------

6. Expenditure on charitable activities by activity type

	Grant funding of activities	Support costs	Total funds 2023	Total fund 2022
	£	£	£	£
Charitable grants	86,000	36	86,036	162,536
Governance costs	–	900	900	900
	--------	----	--------	---------
	86,000	936	86,936	163,436
	--------	----	--------	---------

7. Analysis of support costs

	Analysis of support costs activity 1	Total 2023	Total 2022
	£	£	£
General office	36	36	36
Governance costs	900	900	900
	----	----	----
	936	936	936
	----	----	----

8. Analysis of grants

	2023	2022
	£	£

Grants to institutions

Autistica	50,000	100,000
Autism Inclusive	5,000	5,000
Autistic Society Greater Manchester	5,000	–
Grants under £5,000	3,500	5,000
Lothian Autistic Society	–	5,000
Northwich Multisports	5,000	5,000
Space Chester	7,500	7,500
Sunshine Wishes Children Charity	5,000	–
Space For Autism	–	20,000
Tailor Ed Foundation	–	5,000
The Breast Project	–	5,000
Time Out Group	–	5,000
Youthspace	5,000	–
	--------	---------
	86,000	162,500
	--------	---------
Total grants	86,000	162,500
	--------	---------

9. Staff costs

The average head count of employees during the year was Nil (2022: Nil).

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

10. Trustee remuneration and expenses

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

11. Creditors: amounts falling due within one year

	2023	2022
	£	£
Accruals and deferred income	900	900
	----	----

12. Analysis of charitable funds

Unrestricted funds

	At 1 February 2022	Expenditure	At 31 January 2023
	£	£	£
General funds	187,312	(86,936)	100,376
	---------	--------	---------

	At 1 February 2021	Expenditure	At 31 January 2022
	£	£	£
General funds	350,748	(163,436)	187,312
	---------	---------	---------

13. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2023
	£	£
Current assets	101,276	101,276
Creditors less than 1 year	(900)	(900)
	---------	---------
Net assets	100,376	100,376
	---------	---------

	Unrestricted Funds	Total Funds 2022
	£	£
Current assets	188,212	188,212
Creditors less than 1 year	(900)	(900)
	---------	---------
Net assets	187,312	187,312
	---------	---------

14. Taxation

Charles Sharland Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.