Caseware UK (AP4) 2022.0.179 2022.0.179 Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-31536622022-04-01falsenot blank222023-03-31 01811159 2022-04-01 2023-03-31 01811159 2021-04-01 2022-03-31 01811159 2023-03-31 01811159 2022-03-31 01811159 2022-04-01 01811159 2021-04-01 01811159 c:RegisteredOffice 2022-04-01 2023-03-31 01811159 d:CurrentFinancialInstruments 2023-03-31 01811159 d:CurrentFinancialInstruments 2022-03-31 01811159 c:FRS102 2022-04-01 2023-03-31 01811159 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01811159 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01811159 b:Trustee1 2022-04-01 2023-03-31 01811159 b:Trustee2 2022-04-01 2023-03-31 01811159 b:TotalEndowmentFunds 2022-04-01 2023-03-31 01811159 b:TotalEndowmentFunds 2021-04-01 2022-03-31 01811159 b:TotalEndowmentFunds 2023-03-31 01811159 b:TotalEndowmentFunds 2022-03-31 01811159 b:TotalUnrestrictedFunds 2023-03-31 01811159 b:TotalUnrestrictedFunds 2022-03-31 01811159 b:TotalRestrictedIncomeFunds 2023-03-31 01811159 b:TotalRestrictedIncomeFunds 2022-03-31 01811159 c:FullAccounts 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 01811159
Charity number: 289461











THE POSSUM TRUST
(A Company Limited by Guarantee)








UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Reference and Administrative Details of the Company, its Trustees and Advisers
1
Trustees' Report
2 - 4
Statement of Financial Activities
5
Balance Sheet
6 - 7
Notes to the Financial Statements
8 - 12

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023


Trustees
P I Robinson
D B Scott (resigned 31 January 2023)

Company registered number
01811159

Charity registered number
289461

Registered office
8 Farmbrough Close
Stocklake Park Industrial Estate
Aylesbury
Buckinghamshire
HP20 1DQ

Bankers
Bank of Scotland
33 Old Broad Street
London
EC2N 1HW

Page 1

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of the The Possum Trust for the year 1 April 2022 to 31 March 2023The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
 

 

Achievements and performance
 

a. Activities and review of the year
 

The charitable company is engaged in the supply of information, advice, and practical aid for the benefit of disabled and handicapped people. The aim if the charitable company is to enable disabled persons to live with an increased degree of independance.
There was income in the year of £60 (2022: £2,000). The Trust continues to receive applications for funding requests which are given due consideration by the Trustees, one request for funding was approved by the Trustees for the year ended 31 March 23 (2022: one request approved for funding).
The trustees confirm that they have referred to the guidance contained in the Charity Commisison's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
 

Financial review
 

a. 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. 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.
 

b. Reserves policy
 

It is the continued policy of The Possum Trust to hold a low level reserve to fund the hire and maintenance of equipment provided on loan to existing users for the agreed peiod. Much of the hire equipment provided is now out of warranty and The Possum Trust is not liable to maintain these products. The trustees consider that a reserve of £5,000 is an appropriate level to ensure this commitment can be made. Where appropriate spending has not been identified reserves may be in excess of this amount at any point in time, however it is the policy of the Trust to make all appropriate endeavors to use the money within the Trust as laid out in the Memorandum of Association. The reserves balance at 31 March 2023 was £26,356.
 

Page 2

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
 
Structure, governance and management
 

a. Methods of appointment or election of Trustees
 

The Possum Trust monitors skill requirements in its Board of Trustees and when considered necessary, advertises  for new roles on the Board.
 

b. Business review
 

The Possum Trust is a body incorporated under the Companies Act and is registered in England & Wales. It is limited by guarantee. In the event of The Possum Trust being wound up the liability of its members is limited to £1.
The Possum Trust is a registered charity. The governing documents of the charity are contained within the Memorandum and Articles of Association of The Possum Trust.
The company has a net loss of £475 for the year (2022: surplus of £2,015). The directors believe that the Trust will have sufficient funds to meet approved applications for at least 12 months from the date of signature of these financial statements and on this basis the financial statements have been prepared under the going concern basis.
 

Statement of Trustees' responsibilities
 

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.


Page 3

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
 
Statement of Trustees' responsibilities (CONTINUED)

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


 

Approved by order of the members of the board of Trustees and signed on their behalf by:



................................................
P I Robinson
Date: 8 March 2024
Page 4

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2023


Unrestricted funds
2023
Total
funds
2023
Total
funds
2022
Note
        £
        £
        £

Income from:






Donations and legacies

3

60

60

2,000
 
Total income
60
60
2,000
Expenditure on:






Raising funds

4

85

85

(15)
 
Charitable activities

5

450

450

-
 
Total expenditure
535
535
(15)

Net movement in funds
  
(475)
(475)
2,015

Reconciliation of funds:

  




Total funds brought forward

  

26,831

26,831

24,816
 
Net movement in funds

  

(475)

(475)

2,015
 
Total funds carried forward
  
26,356
26,356
26,831

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 8 to 12 form part of these financial statements.

Page 5

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01811159

 
 
BALANCE SHEET
AS AT 31 MARCH 2023


2023
2022
Note
£
£

Fixed assets
  

  
-
-

Current assets
  

Cash at bank and in hand
  
27,616
28,091

  
27,616
28,091

Creditors: amounts falling due within one year
 7 
(1,260)
(1,260)

Net current assets 
  
 
 
26,356
 
 
26,831

Total assets less current liabilities
  
26,356
26,831

Net assets excluding pension asset 
  
26,356
26,831

Total net assets 
  
26,356
26,831


Charity funds
  

Restricted funds
  
-
-

Unrestricted funds
  
26,356
26,831

Total funds
  
26,356
26,831

Page 6

 
THE POSSUM TRUST
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 01811159

 
 
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

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

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:




................................................
P I Robinson
Date: 8 March 2024

The notes on pages 8 to 12 form part of these financial statements.

Page 7

 
THE POSSUM TRUST

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Enter text here - user input


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Possum Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

  
2.3

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

Page 8

 
THE POSSUM TRUST

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.4

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.5

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

  
2.6

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

  
2.7

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.


3.

Income from donations and legacies



Unrestricted funds
2023
Total
funds
2023
        £
        £
 


Donations

60

60




Unrestricted funds
2022
Total
funds
2022
        £
        £
Page 9

 
THE POSSUM TRUST

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.Income from donations and legacies (continued)



Unrestricted funds
2022
Total
funds
2022
        £
        £



Donations

2,000

2,000


Page 10

 
THE POSSUM TRUST

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.

Expenditure on raising funds




Fundraising trading expenses



Unrestricted funds
2023
Total
funds
2023
        £
        £



Bank charges

85

85




Unrestricted funds
2022
Total
funds
2022
        £
        £



Bank charges

85

85

Provision of equipment

500

500

Professional fees

(600)

(600)

Total 2022


(15)
(15)





5.

Analysis of expenditure on charitable activities






Unrestricted funds
2023
Total
2023
Total
2022
        £
        £
        £




Donations

450

450

-
 


6.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 11

 
THE POSSUM TRUST

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.



Creditors: Amounts falling due within one year


2023
2022
£
£


Accruals and deferred income
1,260
1,260


8.



Financial instruments


2023
2022
£
£

Financial assets

Financial assets measured at fair value through income and expenditure
27,616
28,091


Financial assets measured at fair value through income and expenditure comprise….

Page 12