REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
DR SAM EDUCATION CENTRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
DR SAM EDUCATION CENTRE |
DR SAM EDUCATION CENTRE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 5 | to | 8 |
DR SAM EDUCATION CENTRE (REGISTERED NUMBER: 11617576) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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 October 2023. 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). |
OBJECTIVES AND ACTIVITIES |
Our Motto |
Only the educated are free |
Our Vision |
Our vision is to change and free the lives of as many children as possible |
Our Mission |
Our mission is to provide a safe, secure and enjoyable environment for children to achieve their potential by education and good behaviour. |
Our Achievements |
The centre was started in Sri Lanka on 8th October 2016 with 30 students to learn English and IT. It soon developed to provide the main eight subjects namely Mathematics. Science, English, Tamil, IT, History, Geography, and Civics helping 75 students. The first anniversary was celebrated on 14th October 2017 and it is hoped to have many more anniversaries. |
In addition to providing academic teaching the centre also organised two days course for parents and children on nutrition, healthy living and above all good behaviour |
Charity's main aim is to run the centre in Sri Lanka which is currently funded by related Dr Sam foundation in Sri Lanka. Due to Covid restrictions the founder Trustee is finding it difficult to travel to UK and setup the bank hence there have been no transactions during the year under review. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is controlled by its governing document, memorandum and articles and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
DR SAM EDUCATION CENTRE (REGISTERED NUMBER: 11617576) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
TRUSTEES' RESPONSIBILITY STATEMENT |
The trustees (who are also the directors of Dr Sam Education Centre for the purposes of company law) are responsible for preparing the Report of the Trustees 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 which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
Approved by order of the board of trustees on |
DR SAM EDUCATION CENTRE |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities | 3 |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 6,703 |
DR SAM EDUCATION CENTRE (REGISTERED NUMBER: 11617576) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 6,703 |
TOTAL FUNDS | 6,703 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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 |
DR SAM EDUCATION CENTRE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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. |
Limited by guarantee |
Dr Sam Education Centre is a company limited by guarantee not having a share capital. Every member of the company undertakes to contribute such amount as may be required (not exceeding £ 1) to the company's assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member. |
2. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Deposit account interest |
DR SAM EDUCATION CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
3. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 4) | Totals |
£ | £ | £ |
Expenditure on charitable activities | 3,024 | 38 | 3,062 |
4. | SUPPORT COSTS |
Management | Finance | Totals |
£ | £ | £ |
Expenditure on charitable activities | 13 | 25 | 38 |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Expenditure |
on |
charitable | Total |
activities | activities |
£ | £ |
Sundries | 13 | - |
Bank charges | 25 | - |
38 | - |
5. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricte |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 6,703 |
DR SAM EDUCATION CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
7. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1.11.22 | in funds | 31.10.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 6,703 | (1,535 | ) | 5,168 |
TOTAL FUNDS | (1,535 | ) | 5,168 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,527 | (3,062 | ) | (1,535 | ) |
TOTAL FUNDS | ( |
) | (1,535 | ) |
Comparatives for movement in funds |
Net |
At | movement | At |
1.11.21 | in funds | 31.10.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 682 | 6,021 | 6,703 |
TOTAL FUNDS | 682 | 6,021 | 6,703 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 6,021 | - | 6,021 |
TOTAL FUNDS | 6,021 | - | 6,021 |
DR SAM EDUCATION CENTRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
7. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
At | movement | At |
1.11.21 | in funds | 31.10.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 682 | 4,486 | 5,168 |
TOTAL FUNDS | 682 | 4,486 | 5,168 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 7,548 | (3,062 | ) | 4,486 |
TOTAL FUNDS | 7,548 | (3,062 | ) | 4,486 |
8. | RELATED PARTY DISCLOSURES |
There were no related party transactions for the year ended 31 October 2023 nor for the period ended 31 October 2022. |