Charity registration number 1184882
Company registration number 09912907 (England and Wales)
WISH TO LEARN
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
WISH TO LEARN
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr N S Sahota
Mr Randhir Kalsi
H K Kalsi
Charity number
1184882
Company number
09912907
Principal address
8 Lynmere Road
Welling
DA16 1PA
Registered office
2nd Floor
167-169 Great Portland Street
London
W1W 5PF
Accountants
Sam Rogoff & Co Ltd
167-169 Great Portland St
London
W1W 5PF
WISH TO LEARN
CONTENTS
Page
Trustees' report
1 - 3
Accountants' report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 13
WISH TO LEARN
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charity's objects are ‘for the public benefit, the relief and assistance of children in need in any part of the world who are without parents or have parents that cannot take care of them due to their own poverty, by supporting local organisations to cater for their educational, psychological, medical and nutritional needs.'

The charity has the following aims:

 

  1. Raising awareness of the immense hardship faced by children in poverty by leveraging social media for individuals and personal networks to connect with corporates.

     

  2. Providing materials to schools and orphanages (for example: books, desks, beds, clothing, and toys).

 

  1. Sponsoring the education of disadvantaged children over the course of their childhood and teenage years by providing funds to those experiencing severe hardship.

     

  2. Providing ongoing support to disadvantaged children through a structured ‘Sponsor a Child’ program from birth until the age of sixteen.

     

  3. Increasing the availability of personal mentors to young people by creating corporate programs for employees to visit schools and orphanages to foster their personal development and create formative relationships.

     

  4. Creating transformative and sustainable projects by guiding schools and orphanages with mentoring, advice, and hands on support through remote and onsite visits.

     

  5. Generating funds through the sale of digital media, created by volunteers of the Wish to Learn Foundation, e.g., guided meditations, spiritual songs, and coaching podcasts.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

WISH TO LEARN
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
Achievements and performance

The charity funded the following projects during the year:

 

Unique Homes Orphanage for Girls

The orphanage is located in Jalandhar, a city in the Indian state of Punjab. The orphanage houses 85 girls (2021: 80) and is managed by the Bhai Ghanayya Ji Charitable Trust. The charity made a grant of £6,300 during the year (2021: £6,000). The grant was used to purchase medical supplies, food, and education related costs.

 

The charity's 'Sponsor a Daughter' program was successfully launched during the year. The funds generated from this program are granted to the orphanage.

 

Mata Ranjit Kaur Charitable Trust

The charitable trust supports disadvantaged children in rural Punjab by making school fee grants to children who would otherwise be denied an education. Wish To Lean granted the charity £6,750 during the year.

 

Hatun Munay SAC

The charitable trust is located in Peru. Wish to Learn made a grant of £1,681.63 during the year to support a Christmas event. The event provides meals to children along with a story recital. The program is coordinated by local caregivers and teachers.

Financial review

During the year, funds were raised for the general objectives of the charity. The charities reserves increased by £1,305 during the year (from £6,541 to £7,846).

Due to the current reserves and low level of expenditure, the trustees consider that the charity has adequate resources to continue through 2023 & 2024. They have concluded that the charity can continue as a going concern for the foreseeable future.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

The charity has outlined a number of objectives for 2023 and 2024. The charity is focused on expanding the membership base, increasing donation income, and recruiting more volunteers. To achieve these goals, the charity intends to invest £3,000 in Customer Relationship Management (CRM) software that will automate various activities such as membership management, marketing, and fundraising campaigns.

Structure, governance and management

The charity is a company limited by guarantee and its governing documents are its Memorandum and Articles of Association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr N S Sahota
Mr Randhir Kalsi
H K Kalsi
WISH TO LEARN
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -

Potential new trustees are recommended from current trustees. The trustees then make enquires as to their background, which includes a review of their CV. An interview is held with the candidate and a decision as to whether the candidate should be appointed a trustee of the charity is made by the Board of Trustees.

 

None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The affairs of the charity are governed by the Board of Trustees. They are responsible for setting the strategic direction of the charity, consideration of reserves, risk management, performance review, and setting general organisational policy.

 

The charity’s registered office address is 2nd Floor, 167-169 Great Portland Street, London, W1W 5PF. The charity’s web address is wishtolearn.org.

 

The Trustees’ report has been prepared in accordance with the provision applicable to companies subject to the small companies’ regime.

The trustees' report was approved by the Board of Trustees.

Mr Randhir Kalsi
Trustee
31 October 2023
WISH TO LEARN
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WISH TO LEARN FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wish to Learn for the year ended 31 December 2022, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 29 April 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Wish to Learn and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wish to Learn and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Wish to Learn has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Wish to Learn. You consider that Wish to Learn is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Wish to Learn. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sam Rogoff & Co Ltd
31 October 2023
Chartered Accountants
167-169 Great Portland St
London
W1W 5PF
WISH TO LEARN
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2022
2022
2022
2021
2021
2021
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
16,376
5,649
22,025
7,277
-
7,277
Expenditure on:
Raising funds
4
-
179
179
-
-
-
Charitable activities
5
13,660
6,881
20,541
10,558
-
10,558
Total expenditure
13,660
7,060
20,720
10,558
-
10,558
Net income/(expenditure) for the year/
Net movement in funds
2,716
(1,411)
1,305
(3,281)
-
(3,281)
Fund balances at 1 January 2022
5,130
1,411
6,541
8,411
1,411
9,822
Fund balances at 31 December 2022
7,846
-
7,846
5,130
1,411
6,541

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
WISH TO LEARN
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 6 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
10
334
667
Tangible assets
11
2,403
1,369
2,737
2,036
Current assets
Debtors
12
301
-
Cash at bank and in hand
10,490
7,655
10,791
7,655
Creditors: amounts falling due within one year
13
(5,682)
(3,150)
Net current assets
5,109
4,505
Total assets less current liabilities
7,846
6,541
Income funds
Restricted funds
-
1,411
Unrestricted funds
7,846
5,130
7,846
6,541

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 31 October 2023
Mr Randhir Kalsi
Trustee
Company registration number 09912907
WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
1
Accounting policies
Charity information

Wish to Learn is a private company limited by guarantee incorporated in England and Wales. The registered office is 2nd Floor, 167-169 Great Portland Street, London, W1W 5PF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Company Memorandum and Articles, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 8 -
1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
straight line 33% per year
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
straight line 33% per year

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 9 -
Basic financial assets

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
funds
funds
funds
2022
2022
2022
2021
£
£
£
£
Donations and gifts
16,376
5,649
22,025
7,277
WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 10 -
4
Raising funds
Restricted
Total
funds
2022
2021
£
£
Fundraising and publicity
Seeking donations, grants and legacies
179
-
179
-
5
Charitable activities

Charitable expenditure

Charitable expenditure

2022
2021
£
£

General donations

14,732
7,360
Share of support costs (see note 6)
4,309
1,698
Share of governance costs (see note 6)
1,500
1,500
20,541
10,558
Analysis by fund
Unrestricted funds
13,660
10,558
Restricted funds
6,881
-
20,541
10,558
WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 11 -
6
Support costs
Support costs
Governance costs
2022
Support costs
Governance costs
2021
£
£
£
£
£
£
Depreciation
1,877
-
1,877
1,018
-
1,018

Computer running costs

85
-
85
-
-
-

Travelling expenses

315
-
315
50
-
50

Accountancy

660
1,500
2,160
107
1,500
1,607

Bank charges

219
-
219
124
-
124

Printing and stationery

-
-
-
39
-
39

Telecommunications

80
-
80
360
-
360

Postage

34
-
34
-
-
-

Rent & meeting room costs

105
-
105
-
-
-

Profit of loss on foreign exchange

934
-
934
-
-
-
4,309
1,500
5,809
1,698
1,500
3,198
Analysed between
Charitable activities
4,309
1,500
5,809
1,698
1,500
3,198
7
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
8
Employees

The average monthly number of employees during the year was:

2022
2021
Number
Number
3
3
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 12 -
10
Intangible fixed assets
Website
£
Cost
At 1 January 2022 and 31 December 2022
1,000
Amortisation and impairment
At 1 January 2022
333
Amortisation charged for the year
333
At 31 December 2022
666
Carrying amount
At 31 December 2022
334
At 31 December 2021
667
11
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2022
2,054
Additions
2,578
At 31 December 2022
4,632
Depreciation and impairment
At 1 January 2022
685
Depreciation charged in the year
1,544
At 31 December 2022
2,229
Carrying amount
At 31 December 2022
2,403
At 31 December 2021
1,369

 

12
Debtors
2022
2021
Amounts falling due within one year:
£
£
Prepayments and accrued income
301
-
WISH TO LEARN
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 13 -
13
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
3,882
1,350
Accruals and deferred income
1,800
1,800
5,682
3,150
14
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2022
2022
2022
2021
2021
2021
£
£
£
£
£
£
Fund balances at 31 December 2022 are represented by:
Intangible fixed assets
334
-
334
667
-
667
Tangible assets
2,403
-
2,403
1,369
-
1,369
Current assets/(liabilities)
5,109
-
5,109
3,094
1,411
4,505
7,846
-
7,846
5,130
1,411
6,541
15
Related party transactions

During the year the charity entered into the following transactions with related parties:

Randhir Kalsi a trustree of the charity and director of the company made donations to the charity amounting to £7,655 (2021 - £3,800).

16
Prior period corrections

In the accounts to 31 December 2021, depreciation and amortisation of £684.62 and £333.33 respectively was erroneously categorised as governance costs, these costs have been restated in the comparative figures as support costs. The accounts also erroneously included trade creditors of £1,560 in the year in respect of an invoice which was paid during the year. The comparative has been corrected accordingly.

2022-12-312022-01-01falseCCH SoftwareiXBRL Review & Tag 2022.2099129072022-01-012022-12-3109912907bus:Director12022-01-012022-12-3109912907bus:Director22022-01-012022-12-3109912907bus:Director32022-01-012022-12-31099129072022-12-31099129072021-12-31099129072021-01-012021-12-3109912907bus:FRS1022022-01-012022-12-3109912907bus:AuditExemptWithAccountantsReport2022-01-012022-12-3109912907bus:FullAccounts2022-01-012022-12-31xbrli:purexbrli:sharesiso4217:GBP