Charity registration number 1150473
Company registration number 08136861 (England and Wales)
SIMON'S MANGO TREE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
SIMON'S MANGO TREE LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M Brunner
S Derbie
Charity number
1150473
Company number
08136861
Registered office
3 Princes Avenue
Greenford
Middx
UB6 9BS
Accountants
The HHC Partnership Ltd
52 High Street
Pinner
Middlesex
HA5 5PW
SIMON'S MANGO TREE LTD
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the accounts
6 - 8
SIMON'S MANGO TREE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 July 2023.

The accounts have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the governing document detailed within the Memorandum and Articles, as amended by special resolutions dated 12 November 2012 and 2 January 2013, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The objects are to advance education, relieve sickness and promote health in Ghana in particular but not exclusively by the provision of financial, physical and educational assistance to hospitals and schools in Ghana by such means as the trustees deem fit.

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

The trustees have actively promoted the objectives of the charity, and provided much needed funds and resources to beneficiaries.
Achievements and performance

The trustees have continued the development of the charity both with regard to fund raising and application of the charitable funds to the beneficiaries.

Financial review
The charity remains dependent upon donations to fund its activities, and the trustees much appreciate the support provided by the many donors.

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.

Structure, governance and management
The charity was incorporated on 10 July 2012 as a company limited by guarantee and registered as a charity by the Charities Commission on 14 January 2013.

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:

M Brunner
S Derbie
None of the trustees has 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 company must have a minimum of one director, but no maximum. The quorum for a meeting of the members is a minimum of two, or one tenth of the total membership at the time, whichever is greater.
SIMON'S MANGO TREE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 2 -

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

M Brunner
Director
27 February 2024
SIMON'S MANGO TREE LTD
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SIMON'S MANGO TREE LTD FOR THE YEAR ENDED 31 JULY 2023
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Simon's Mango Tree Ltd for the year ended 31 July 2023, 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 2 April 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Simon's Mango Tree Ltd 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 Simon's Mango Tree Ltd and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Simon's Mango Tree Ltd 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 deficit of Simon's Mango Tree Ltd. You consider that Simon's Mango Tree Ltd 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 Simon's Mango Tree Ltd. 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.

The HHC Partnership Ltd
27 February 2024
Chartered Accountants
52 High Street
Pinner
Middlesex
HA5 5PW
SIMON'S MANGO TREE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
4,985
4,265
Investments
4
11
-
Total income
4,996
4,265
Expenditure on:
Charitable activities
8,136
5,126
Net expenditure for the year/
Net movement in funds
(3,140)
(861)
Fund balances at 1 August 2022
11,629
12,490
Fund balances at 31 July 2023
8,489
11,629

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.
SIMON'S MANGO TREE LTD
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
8,489
11,629
Net current assets
8,489
11,629
Income funds
Unrestricted funds
8,489
11,629
8,489
11,629

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 July 2023.

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 27 February 2024
M Brunner
Trustee
Company registration number 08136861
SIMON'S MANGO TREE LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
1
Accounting policies
Charity information

Simon's Mango Tree Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Princes Avenue, Greenford, Middx, UB6 9BS.

1.1
Accounting convention

The accounts have been prepared in accordance with the charity's Trust Deed, 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

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
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.
1.3
Incoming resources
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.
1.4
Resources expended

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 are allocated on the portion of the asset’s use.

SIMON'S MANGO TREE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 7 -
1.5
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.

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
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
4,985
4,265
SIMON'S MANGO TREE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 8 -
4
Investments
Unrestricted
Total
funds
2023
2022
£
£
Interest receivable
11
-
5
Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year.
6
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
7
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.

8
Cash generated from operations
2023
2022
£
£
Deficit for the year
(3,140)
(861)
Adjustments for:
Investment income recognised in statement of financial activities
(11)
-
Cash absorbed by operations
(3,151)
(861)
9
Analysis of changes in net funds

The charity had no debt during the year.

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