REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
15 DECEMBER 2020 TO 31 MARCH 2022 |
FOR |
MCKENZIE DELIS FOUNDATION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
15 DECEMBER 2020 TO 31 MARCH 2022 |
FOR |
MCKENZIE DELIS FOUNDATION |
MCKENZIE DELIS FOUNDATION |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
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 | 8 |
MCKENZIE DELIS FOUNDATION (REGISTERED NUMBER: 13082323) |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
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 15 December 2020 to 31 March 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). |
INCORPORATION |
The charitable company was incorporated on 15 December 2020 and commenced trading on 1 July 2021. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The McKenzie Delis Foundation is a charitable organisation committed to driving research and insight into how businesses are moving the dial on diversity, equity, inclusion and belonging in the workplace. To achieve this, we have created an industry standard diagnostic tool that factors in ten facets of visible and invisible diversity and inclusion. |
FINANCIAL REVIEW |
Investment policy and objectives |
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held. |
Reserves policy |
The trustees declared financial reserves policy has been to ensure not only financial viability but also service level stability. |
The organisation has in place tight financial control systems to ensure it can meet all revenue expenditure within revenue income. |
Going concern |
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties. For this reason, they continue to adopt the going concern basis in preparing the Financial Statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies within the Financial Statements. |
FUTURE PLANS |
The organisation will continue to monitor standards and financial stability. |
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 company is registered as a charity by the Charity Commissioners (No 1194798) and is recognised as such by H M Revenue and Customs. The charity is governed by its Memorandum and Articles of Association (incorporated 15 December 2020). |
Recruitment and appointment of new trustees |
Appointment of trustees is governed by the deed of the charity. The Board of Trustees is authorised to appoint new Trustees at any time to fill a casual vacancy or as an addition to the existing Trustees. |
MCKENZIE DELIS FOUNDATION (REGISTERED NUMBER: 13082323) |
REPORT OF THE TRUSTEES |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
The board of trustees administers the charity. |
The trustees delegate the day to day responsibility for all routine financial matters, staff selection, development and supervision, staff safety and compliance with all necessary legislation to the C.E.O. and managing director. |
Induction and training of new trustees |
New trustees undergo an orientation process to brief them on their legal obligations under charity law, the charity's governing documents, the committee and decision making processes, the business plan and recent financial performance of the charity. During the induction process they meet key employees and other trustees, Trustees are encouraged to attend appropriate external and internal training events which will assist them to carry out their role. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Z Brown - appointed 1 July 2021 |
A Denton - appointed 1 July 2021 |
S Welch - appointed 1 July 2021 |
P Miller - appointed 1 July 2021 |
M Slattery - appointed 1 July 2021 and resigned 1 January 2022 |
D Curtis - appointed 1 January 2022 |
Independent Examiner |
TGFP |
Chartered Accountants |
Fulford House |
Newbold Terrace |
Leamington Spa |
Warwickshire |
CV32 4EA |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
MCKENZIE DELIS FOUNDATION |
Independent examiner's report to the trustees of McKenzie Delis Foundation ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the period 15 December 2020 to 31 March 2022. |
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. |
Benjamin Reynolds Bsc Hons FCA |
ICEAW |
TGFP |
Chartered Accountants |
Fulford House |
Newbold Terrace |
Leamington Spa |
Warwickshire |
CV32 4EA |
31 July 2022 |
MCKENZIE DELIS FOUNDATION |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
Unrestricted |
fund |
Notes | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 3 |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME |
TOTAL FUNDS CARRIED FORWARD |
MCKENZIE DELIS FOUNDATION (REGISTERED NUMBER: 13082323) |
BALANCE SHEET |
31 MARCH 2022 |
Unrestricted |
fund |
Notes | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds |
TOTAL FUNDS |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022. |
The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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 |
MCKENZIE DELIS FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
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. |
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. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Financial instruments |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
MCKENZIE DELIS FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
2. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for the revenues and expenses during the period. The nature of estimation means the actual outcomes could differ from those estimates. There are no judgements made that have a significant effect on the amounts recognised in the financial statements. |
3. | OTHER TRADING ACTIVITIES |
£ |
Fundraising events |
Sponsorships | 160,137 |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the period ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the period ended 31 March 2022. |
5. | STAFF COSTS |
The average monthly number of employees during the period was as follows: |
Management |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Accruals and deferred income |
MCKENZIE DELIS FOUNDATION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 15 DECEMBER 2020 TO 31 MARCH 2022 |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
in funds | 31.3.22 |
£ | £ |
Unrestricted funds |
General fund | 39,806 | 39,806 |
TOTAL FUNDS | 39,806 | 39,806 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 206,528 | (166,722 | ) | 39,806 |
TOTAL FUNDS | ( |
) | 39,806 |
8. | RELATED PARTY DISCLOSURES |