A T.I.M.E. LIMITED - Charities report - 18.1
A T.I.M.E. LIMITED - Charities report - 18.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED |
| 31 AUGUST 2017 |
| FOR |
| A T.I.M.E. LIMITED |
| A T.I.M.E. LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| Page |
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Statement of Financial Position | 7 to 8 |
| Notes to the Financial Statements | 9 to 12 |
| A T.I.M.E. LIMITED |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 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 August 2017. 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 2015). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| A T.I.M.E. Limited was established in June 2008 to assist those suffering from infertility problems, particularly those |
| who are in financial need, through the provision of assistance to receive medical treatment. |
| The charity's objects are: |
| "To relieve persons, in particular but not exclusively, of the Jewish community, suffering from infertility or fertility |
| problems, in particular by: |
| A) The provision of information, advice and support, in particular through the provision of a support group |
| B) The provision of a helpline |
| C) The provision of a periodic magazine |
| D) The provision of a website and other resources for information, guidance and educational materials |
| E) Referring beneficiaries to relevant medical assistance and advice" |
| Significant activities |
| The major sources of income during the year were donations from individuals and various institutions and these funds |
| were directed towards the charitable activities which are detailed below. |
| Public benefit |
| The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on |
| public benefit when reviewing the charity's aims and objectives and planning future activities and setting the grant |
| making policy for the year. |
| Grantmaking |
| Grants are made at the discretion of the trustees and in accordance with the principal objectives of the charity. All cases |
| are assessed by the trustees and are treated with strict confidentiality. |
| A T.I.M.E. LIMITED |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The Trustees feel that the charity succeeded in accomplishing their objectives this year. The year has been a tough one |
| financially for the charity and the trustees at all time considered their limited funding and ensured its activities benefit |
| patients and contribute to its aims. |
| Helpline |
| Our confidential helpline, which is manned 24 hours a day by dedicated volunteers with vast knowledge in the fertility |
| field, received calls throughout the year and successfully advised, supported and assisted couples who are experiencing |
| infertility. Our helpline volunteers continuously work to form relationships with doctors and infertility clinics so we can |
| advocate on their behalf and they can be guided correctly. This provides an added service to the couples ensuring they |
| receive the best care, treatment and emotional support. |
| We have also continued to provide meals for couples undergoing treatment so that they have no additional burden or |
| stress during this strenuous time. |
| The helpline saw a significant increase of calls from last year and we are regularly told by patients that without us they |
| would be stuck. |
| Miscarriage |
| Suffering a miscarriage is an extremely heart breaking experience. We have a phone line for advice and counselling. In |
| addition we have a beautifully designed PLP (Pregnancy Loss Package) which is sent to the grieving couple, to help |
| them heal. It includes advice, support and encouragement as well as an uplifting CD and a small box of chocolates. The |
| charity also helps couples deal with burial issues should they arise, G-d forbid, in addition to religious prayers recited on |
| the couple's behalf. |
| Our volunteers have sent out many packages during the year and have had a large amount of requests for advice and |
| support from people suffering a miscarriage. |
| Grants |
| With the extremely high costs involved in fertility treatment, we offer to ease the burden with either long term interest |
| free loans or to pay for the treatment in part or full. We also fund transportation to and from clinics which can often be |
| quite costly. We combine our knowledge of medical procedures and testing to avoid unnecessary costs thus enabling |
| patients to minimise stress. |
| The trustees feel this year has been a very productive year. There has been increased demand for funding and they hope |
| to be able to continue to provide this service to the ultimate benefit of the patients. |
| Witnessing Program |
| We offer couples what is known as Doros Yeshorim. This service provides witnesses who attend clinics where necessary |
| as required by Jewish Law. Our witnesses have been trained to be aware of laboratory procedures. |
| We have provided this service to all patients where the laboratory procedures are necessary for their treatment. With our |
| expertise of many years running this service we have advised and guided other organisations within Europe to enable |
| them to setup their own program. |
| Support Groups |
| The support groups met during the year. Our events team organised speakers knowledgeable on the subject of fertility to |
| attend. This further expands patients knowledge. We have received very positive feedback from the attendees, where |
| couples formed friendships, learnt coping skills and received much inspiration. After these event we were flooded with |
| thank you notes and phone calls telling us what a difference it makes for them. Our events team will continue to arrange |
| events for the benefit of our members. |
| Library |
| Our library was visited frequently. The purchase of up to date literature containing information on the latest advances in |
| treatment was welcomed by all members. We also expanded our vast selection of CDs and DVDs containing medical |
| information and uplifting and supportive lectures from both medical professionals and recognised rabbinical authorities |
| and distributed a quarterly magazine from an equivalent organisation based in America which shares our name. This |
| magazine offers a wide range of resources and advice for couples who find themselves struggling with fertility issues. |
| We have continued to expand our media always on the lookout for the latest information. We have maintained the usage |
| of the library and have helped many make sense of the maze of treatment and medical jargon enabling them to choose |
| the correct path for treatment. |
| A T.I.M.E. LIMITED |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| Support Groups and Events Programmes |
| Event groups for couples to get together and a hot line to keep up with each other's progress were our focus this year. |
| We also organised a well known speaker, who has a vast amount of knowledge and experience in supporting and |
| advising on the challenging issues of infertility, to speak at one of our events. |
| Fundraising activities - SHASATHON |
| We had a Major fundraising event called Shasathon where over 400 members of the community came to learn Shas in |
| one day under one roof to raise funds for the charity. We are delighted to report that this event raised over £100,000 for |
| the charity. |
| FINANCIAL REVIEW |
| Reserves policy |
| The reserves policy is to ensure that there is a sufficient stream of income to meet the ongoing calls made on the charity. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a |
| limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Recruitment and appointment of new trustees |
| 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 select suitable recruitment and training procedures. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Director |
| Director | - resigned 11.8.17 |
| Director |
| Company Secretary |
| Independent examiner |
| Malcolm Venitt |
| A.C.A |
| Venitt and Greaves |
| Chartered Accountants |
| South Tottenham |
| London |
| N15 6BL |
| A T.I.M.E. LIMITED |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| A T.I.M.E. LIMITED |
| I report on the accounts for the year ended 31 August 2017 set out on pages six to twelve. |
| Respective responsibilities of trustees and examiner |
| The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of |
| the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the |
| Charities Act 2011 (the 2011 Act)) and that an independent examination is required. |
| Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent |
| examination, it is my responsibility to: |
| - | examine the accounts under Section 145 of the 2011 Act |
| - | to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and |
| - | to state whether particular matters have come to my attention. |
| Basis of the independent examiner's report |
| My examination was carried out in accordance with the General Directions given by the Charity Commission. An |
| examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented |
| with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking |
| explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the |
| evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a |
| 'true and fair view ' and the report is limited to those matters set out in the statements below. |
| Independent examiner's statement |
| In connection with my examination, no matter has come to my attention: |
| (1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
| - | to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and |
| - | to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the 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 2015) |
| have not been met; or |
| (2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
| Malcolm Venitt |
| A.C.A |
| Venitt and Greaves |
| Chartered Accountants |
| 115 Craven Park Road |
| South Tottenham |
| London |
| N15 6BL |
| 30 May 2018 |
| A T.I.M.E. LIMITED |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 31.8.17 | 31.8.16 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities | 2 |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | ( |
) | ( |
) |
| TOTAL FUNDS CARRIED FORWARD | ( |
) | (68,007 | ) |
| CONTINUING OPERATIONS |
| All income and expenditure has arisen from continuing activities. |
| A T.I.M.E. LIMITED |
| STATEMENT OF FINANCIAL POSITION |
| AT 31 AUGUST 2017 |
| 31.8.17 | 31.8.16 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) | ( |
) |
| FUNDS | 9 |
| Unrestricted funds | (147,746 | ) | (68,007 | ) |
| TOTAL FUNDS | ( |
) | (68,007 | ) |
| A T.I.M.E. LIMITED |
| STATEMENT OF FINANCIAL POSITION - CONTINUED |
| AT 31 AUGUST 2017 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 31 August 2017. |
| The members have not required the company to obtain an audit of its financial statements for the year ended |
| 31 August 2017 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 |
| special provisions of Part 15 of the Companies Act 2006 relating to |
| charitable small companies. |
| The financial statements were approved by the Board of Trustees on |
| A T.I.M.E. LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 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 2015)', |
| 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. |
| Transition to financial reporting standards 102 |
| The company has adopted FRS 102 Section 1A for the first time in the preparation of these accounts. |
| Accordingly the date of transition to FRS 102 was 1 September 2015 (beginning of the accounting period of |
| comparative financial year). |
| There are no material differences in determining the company's profit and loss under FRS 102 Section 1A and |
| the previous framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective |
| January 2015)). |
| 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. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Fixtures and fittings |
| Computer equipment |
| 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. | OTHER TRADING ACTIVITIES |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Fundraising events |
| A T.I.M.E. LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 3. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Depreciation - owned assets |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 August 2017 nor for the year ended |
| 31 August 2016. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2017 nor for the year ended 31 August 2016. |
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Other trading activities |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | (65,880 | ) |
| TOTAL FUNDS CARRIED FORWARD | (68,007 | ) |
| A T.I.M.E. LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures and fittings |
Computer equipment |
Totals |
| £ | £ | £ |
| COST |
| At 1 September 2016 and 31 August 2017 |
| DEPRECIATION |
| At 1 September 2016 |
| Charge for year |
| At 31 August 2017 |
| NET BOOK VALUE |
| At 31 August 2017 |
| At 31 August 2016 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.17 | 31.8.16 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Accrued expenses |
| 9. | MOVEMENT IN FUNDS |
At 1.9.16 |
Net movement in funds |
At 31.8.17 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | (68,007 | ) | (79,739 | ) | (147,746 | ) |
| TOTAL FUNDS | ( |
) | (79,739 | ) | (147,746 | ) |
| A T.I.M.E. LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| FOR THE YEAR ENDED 31 AUGUST 2017 |
| 9. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 229,056 | (308,795 | ) | (79,739 | ) |
| TOTAL FUNDS | ( |
) | (79,739 | ) |
| Comparatives for movement in funds |
At 1.9.15 |
Net movement in funds |
At 31.8.16 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | (65,880 | ) | (2,127 | ) | (68,007 | ) |
| TOTAL FUNDS | (65,880 | ) | (2,127 | ) | (68,007 | ) |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 591,446 | (593,573 | ) | (2,127 | ) |
| TOTAL FUNDS | 591,446 | (593,573 | ) | (2,127 | ) |
| 10. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 August 2017. |