Impact Charities Limited - Charities report - 22.2

REGISTERED COMPANY NUMBER: 06401609 (England and Wales)

REGISTERED CHARITY NUMBER: 1121643

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 30 SEPTEMBER 2023

FOR

IMPACT CHARITIES LIMITED

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

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 period 1 January 2023 to 30 September 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 aims

Since the charities inception, the primary objectives have been to advance education in various social-economic contexts, including underdeveloped, developing and developed countries. Despite our dedicated efforts, recent global challenges, coupled with a downturn in our major donor's business performance have significantly hindered operations. This year we were unable to execute any international teacher trips, a core component of our mission. Consequently after thorough introspection and evaluation, we have concluded that sustaining and adapting our programmes under these circumstances is unfeasible.

In line with our commitment to integrity and specificity in our mission, we have taken a decisive step regarding the allocation of remaining funds. The charities aims and operations were distinctly tailored to offer direct support to communities by educating children, a unique approach that we found unmatched by other organizations. Therefore, in the absence of a suitable alternative entity that aligns precise;y with our specific objectives and methods, the trustees have resolved to return the funds to the original donor. This decision was made with the utmost consideration for our donor's intentions and the unique ethos of the charity.

Public benefit

The trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission relating to public benefit. The charity's activities are for the public benefit as providing better qualified teachers in underdeveloped areas, education will improve, making communities more self-reliant.

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

Every year the existing trustees vote on the appointment of any new trustees. The managers are also asked to vote. The only candidates who are elected to the position of trustee are those who are or have been directly involved in the charitable efforts.

Organisational structure

All decisions are made by the trustees in furtherance of the charitable aims.

Risk management

The trustees perform a formal review of the charity’s risk management processes on an annual basis. The main risk that the trustees have identified is that of lack of funding. As the only source of funds is from Impact Teachers Limited, a company in which Mrs J Rosati is a director, this risk is minimised whilst the company maintains profits.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06401609 (England and Wales)

Registered Charity number

1121643

Registered office

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

Trustees

Mrs J J Rosati

N S Alexander

Independent Examiner

Rothmans LLP

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

CESSATION OF TRADING

The charitable company ceased activities on 30 September 2023.

Approved by order of the board of trustees on 8 February 2024 and signed on its behalf by:

Mrs J J Rosati - Trustee

Independent examiner's report to the trustees of Impact Charities Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 January 2023 to 30 September 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.

Ms S Sullivan

Rothmans LLP

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

9 April 2024

Period

1.1.23

to

Year Ended

30.9.23

31.12.22

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Investment income

3

147

133

EXPENDITURE ON

Raising funds

4

113

-

Charitable activities

Other Projects

1,109

-

Other

157,230

1,724

Total

158,452

1,724

NET INCOME/(EXPENDITURE)

(158,305

)

(1,591

)

RECONCILIATION OF FUNDS

Total funds brought forward

153,247

154,838

TOTAL FUNDS CARRIED FORWARD

(5,058

)

153,247

30.9.23

31.12.22

Unrestricted

Total

fund

funds

Notes

£

£

CURRENT ASSETS

Cash at bank

-

157,196

CREDITORS

Amounts falling due within one year

7

(5,058

)

(3,949

)

NET CURRENT ASSETS/(LIABILITIES)

(5,058

)

153,247

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,058

)

153,247

NET ASSETS

(5,058

)

153,247

FUNDS

8

Unrestricted funds

(5,058

)

153,247

TOTAL FUNDS

(5,058

)

153,247

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 8 February 2024 and were signed on its behalf by:

J J Rosati - Trustee

1.	STATUTORY INFORMATION

Impact Charities Limited is a private charitable company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Report of the Trustees page.

The presentation currency of the Financial Statements is the Pound sterling (£).

2.	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.

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.

3.	INVESTMENT INCOME

Period

1.1.23

to

Year Ended

30.9.23

31.12.22

£

£

Deposit account interest

147

133

4.	RAISING FUNDS

Raising donations and legacies

Period

1.1.23

to

Year Ended

30.9.23

31.12.22

£

£

Support costs

113

-

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 September 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the period ended 30 September 2023 nor for the year ended 31 December 2022.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Investment income

133

EXPENDITURE ON

Other

1,724

NET INCOME/(EXPENDITURE)

(1,591

)

RECONCILIATION OF FUNDS

Total funds brought forward

154,838

TOTAL FUNDS CARRIED FORWARD

153,247

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.23

31.12.22

£

£

Other creditors

3,084

2,100

Accrued expenses

1,974

1,849

5,058

3,949

8.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.23

in funds

30.9.23

£

£

£

Unrestricted funds

General fund

153,247

(158,305

)

(5,058

)

TOTAL FUNDS

153,247

(158,305

)

(5,058

)

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

147

(158,452

)

(158,305

)

TOTAL FUNDS

147

(158,452

)

(158,305

)

Comparatives for movement in funds

Net

movement

At

At 1.1.22

in funds

31.12.22

£

£

£

Unrestricted funds

General fund

154,838

(1,591

)

153,247

TOTAL FUNDS

154,838

(1,591

)

153,247

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

133

(1,724

)

(1,591

)

TOTAL FUNDS

133

(1,724

)

(1,591

)

9.	RELATED PARTY DISCLOSURES

The Charity owed an amount of £3,084.00 at 30.09.23 (£2,100.00 - 31.12.22) to Mrs J Rosati who settled costs on behalf of the Charity in the year.