Charlbury and Overseas Community - Charities report - 22.2

REGISTERED COMPANY NUMBER: 05472341 (England and Wales)

REGISTERED CHARITY NUMBER: 1110285

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

CHARLBURY AND OVERSEAS COMMUNITY

PROJECTS LIMITED

Page

Reference and Administrative Details

1

Report of the Trustees

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

10

TRUSTEES

Mr W W Chadwick (resigned 11.9.22)

Mr E J Wigzell

Mr N Millea

Mr M Bullock

Mr R Noble

Mr M J Peake

Ms G Begnor

Mr T C Joy

S A Hosking (appointed 12.9.23)

COMPANY SECRETARY

Mr T C Joy

REGISTERED OFFICE

Toll Gate Cottage

The Slade

Charlbury

Chipping Norton

OX7 3SJ

REGISTERED COMPANY NUMBER

05472341 (England and Wales)

REGISTERED CHARITY NUMBER

1110285

INDEPENDENT EXAMINER

Bronsens

Chartered Certified Accountants

Eden House

Two Rivers Business Park

Witney

Oxfordshire

OX28 4BL

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 May 2023. 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 activities

The charity's object is to provide grants and donations to such charitable purposes as the trustees in their absolute discretion shall think fit.

The Company owns all the share capital in Charlbury Beer Festival Limited whose objective is to raise funds, which are then Gift Aided to the company for distribution in accordance with the objectives detailed above.

The charity's main activity is that of the distribution of grants and donations.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year ended 31 May 2023 the Company received Gift Aided money from Charlbury Beer Festival of £15,604. A further gift of £1,566 was received from Charlbury's Own Cinema. Details of charitable grants to local and overseas projects are given in the notes to the accounts.

The management committee will be seeking to support suitable overseas projects together with projects in the Charlbury area.

FINANCIAL REVIEW

Reserves policy

The results for the period and financial position of the company are as shown in the annexed financial statements. Cash is held in the bank to cover net current liabilities and the balance on various funds. The Company hopes to be able to distribute all receipts within twelve months of them being received.

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.

The organisation is constituted as a Company Limited by Guarantee, incorporated on 6th June 2005 and registered as a charity on 30th June 2005. The Company was established under a Memorandum of Association, which establishes the objects and powers of the charitable Company and is governed under its Articles of Association. In the event of the Company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The directors of the Company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the directors may appoint by Ordinary Resolution any person willing to act and determine the appointed directors' rotation for retirement. Directors are appointed for a term not exceeding three years after which they must be re-elected at the next Annual General Meeting.

Approved by order of the board of trustees on 27 February 2024 and signed on its behalf by:

Mr T C Joy - Secretary

Independent examiner's report to the trustees of Charlbury and Overseas Community Projects Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2023.

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.

Philip J Burton BSc FCA

Bronsens

27 February 2024

31.5.23

31.5.22

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

17,170

7,076

EXPENDITURE ON

Raising funds

-

13

Charitable activities

Grants

17,405

7,560

Total

17,405

7,573

NET INCOME/(EXPENDITURE)

(235

)

(497

)

RECONCILIATION OF FUNDS

Total funds brought forward

11,418

11,915

TOTAL FUNDS CARRIED FORWARD

11,183

11,418

31.5.23

31.5.22

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

4

10

10

CURRENT ASSETS

Debtors

5

9,984

9,880

Cash at bank

1,189

1,528

11,173

11,408

NET CURRENT ASSETS

11,173

11,408

TOTAL ASSETS LESS CURRENT LIABILITIES

11,183

11,418

NET ASSETS

11,183

11,418

FUNDS

6

Unrestricted funds

11,183

11,418

TOTAL FUNDS

11,183

11,418

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 27 February 2024 and were signed on its behalf by:

Ms G Begnor - Trustee

Mr T C Joy - 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, with the exception of investments which are included at market value.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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.	GRANTS PAYABLE

31.5.23

31.5.22

£

£

Grants

17,405

7,560

The total grants paid to institutions during the year was as follows:

31.5.23

31.5.22

£

£

Charlbury Cricket Club

3,000

-

Charlbury Pre School

275

-

Charlbury Primary School

2,967

-

Charlbury Town Youth FC

460

2,000

Riverside Festival

-

270

Little Wild Things

1,740

310

Charlbury Artweeks Trail Map

-

50

Charlbury Station Garden Volunteers

200

-

Thomas Gifford Trust

1,048

600

1st Charlbury Unit Girl Guides

-

330

Linda Norgrove Foundation

2,100

2,000

Thrive Northox

-

2,000

Charlbury Town Walking Football

500

-

Charlbury Baby & Toddler Group

768

-

Charlbury Exhibition Foundation

2,000

-

Wychwood Forest Trust

312

-

St Mary's Church, Charlbury

1,000

-

Chrissie's Owls

1,035

-

17,405

7,560

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022.

4.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

MARKET VALUE

At 1 June 2022 and 31 May 2023

10

NET BOOK VALUE

At 31 May 2023

10

At 31 May 2022

10

There were no investment assets outside the UK.

5.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Charlbury Beer Festival Ltd

9,984

9,880

6.	MOVEMENT IN FUNDS

Net

movement

At

At 1.6.22

in funds

31.5.23

£

£

£

Unrestricted funds

General fund

11,418

(235

)

11,183

TOTAL FUNDS

11,418

(235

)

11,183

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

17,170

(17,405

)

(235

)

TOTAL FUNDS

17,170

(17,405

)

(235

)

Comparatives for movement in funds

Net

movement

At

At 1.6.21

in funds

31.5.22

£

£

£

Unrestricted funds

General fund

11,915

(497

)

11,418

TOTAL FUNDS

11,915

(497

)

11,418

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

7,076

(7,573

)

(497

)

TOTAL FUNDS

7,076

(7,573

)

(497

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.6.21

in funds

31.5.23

£

£

£

Unrestricted funds

General fund

11,915

(732

)

11,183

TOTAL FUNDS

11,915

(732

)

11,183

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

24,246

(24,978

)

(732

)

TOTAL FUNDS

24,246

(24,978

)

(732

)

7.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 May 2023.