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Registered number: 06490672
Charity number: 1122709










AMSTONE CHARITABLE TRUST LIMITED
(A company limited by guarantee)







UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
AMSTONE CHARITABLE TRUST LIMITED
 
(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
Income and expenditure account
6
Balance sheet
7 - 8
Notes to the financial statements
9 - 17

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 29 FEBRUARY 2024


Trustees
A Siddiqi
A Hamza
C Siddiqi

Company registered number
06490672

Charity registered number
1122709

Registered office
3 Hollins House
331 Hale Road
Altrincham
Cheshire
WA15 8TS

Company secretary
A Siddiqi

Chief executive officer
A Siddiqi

Accountants
Madisons
Bushbury House
435 Wilmslow Road
Withington
Manchester
M20 4AF

Page 1

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
 
  
TRUSTEES' REPORT
FOR THE YEAR ENDED 29 FEBRUARY 2024

The Trustees present their annual report together with the financial statements of the Amstone Charitable Trust Limited for the  1 March 2023 to 29 February 2024The 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.
 

Objectives and activities
 

a. Policies and objectives
 

The principal object of the company is to advance the education of the public by providing and assisting in the provision of facilities for education and community cohesion, the advancement of the Abrahamic religions (Christianity, Islam and Judaism), medical rehabilitation and the relief of financial hardship by the provision of grants, services or facilities.
 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

b. Activities undertaken to achieve objectives
 

The charity conducts a material part of its activities through grantmaking. The charities grantmaking policies are limited to its charitable objectives.
 

c. Main activities undertaken to further the Company's purposes for the public benefit
 

The main activities is to take wide spread view in supporting other UK registered charitable organisations with particular focus towards community and religious cohesion. Further the charity also supports hardship requests with focus on acts of compassion for those in need.
 

Achievements and performance
 

a. Review of activities
 

During the period the charity obtained voluntary donations from its' trustees which assisted the charity in  continuing to support its projects in order to meet the objectives of the charity.
 

b. Investment policy and performance
 

Aside from retaining a prudent amount in reserves each year most of the charity’s funds are to be spent in the short term, so there are no funds for long term investment.
 

Financial review
 

Page 2

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
 
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.
 

Structure, governance and management
 

a. Constitution
 

The company is registered as a charitable company limited by guarantee and was set up by a Trust deed on 17 December 2007. The company is constituted under a Trust deed dated 17 December 2007 and is a registered charity number 1122709. There have been no changes in the objectives since the last annual report.
 

b. Methods of appointment or election of Trustees
 

The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed
 

c. Organisational structure and decision-making policies
 

A board of trustees, who meet regularly, administers the charity. Mr A Siddiqi is appointed by his fellow trustees to manage the day to day operations of the charity. At the trustees' meeting’s, the trustees agree the broad strategy and areas of activity for the trust, including consideration of activities, investment, reserves and risk management policies and performance. A scheme of delegation is in place and day to day responsibility for the provision of services rests with the manager. The manager is responsible for ensuring that the charity delivers the services specified and, as such, has responsibility for the day to day operational management of the charity.
 

Plans for future periods
 

The charity will continue to support the needs of various UK registered charities.
 

Funds held as custodian
 

Neither the charity nor its trustees are acting as custodian trustees.
 

Page 3

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
 
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 . 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.


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 on 17 July 2024 and signed on their behalf by:
 




A Siddiqi
(Chair of Trustees)
Page 4

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 29 FEBRUARY 2024


Unrestricted funds
2024
Total
funds
2024
Total
funds
2023
Note
        £
        £
        £

Income from:






Donations and legacies

2

5,813

5,813

42,687
 
Investments

3

36

36

49
 
Total income
5,849
5,849
42,736
Expenditure on:






Raising funds

4

-

-

613
 
Charitable activities

5

12,865

12,865

46,532
 
Total expenditure
12,865
12,865
47,145

Net movement in funds
  
(7,016)
(7,016)
(4,409)

Reconciliation of funds:

  




Total funds brought forward

  

8,611

8,611

13,020
 
Net movement in funds

  

(7,016)

(7,016)

(4,409)
 
Total funds carried forward
  
1,595
1,595
8,611

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

The notes on pages 9 to 17 form part of these financial statements.

Page 5

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
 
 
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 29 FEBRUARY 2024




Total funds
Total funds
Note
2024
        £
2023
        £
Gross income in the reporting period

  
 

5,849


42,736

Less: Total expenditure

  
 
(12,865)

(47,145)

Net expenditure for the reporting period

  
 

(7,016)


(4,409)


The notes on pages 9 to 17 form part of these financial statements.

Page 6

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 06490672

 
 
BALANCE SHEET
AS AT 29 FEBRUARY 2024


29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

  
-
-

Current assets
  

Debtors
 8 
1,063
8,538

Cash at bank and in hand
  
532
73

  
1,595
8,611

Net current assets 
  
 
 
1,595
 
 
8,611

Total assets less current liabilities
  
1,595
8,611

Net assets excluding pension asset 
  
1,595
8,611

Total net assets 
  
1,595
8,611


Charity funds
  

Restricted funds
 10 
-
-

Unrestricted funds
 10 
1,595
8,611

Total funds
  
1,595
8,611

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 on 17 July 2024 and signed on their behalf by:


A Siddiqi
(Chair of Trustees)
Page 7

 
AMSTONE CHARITABLE TRUST LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER: 06490672

 
 
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024


The notes on pages 9 to 17 form part of these financial statements.

Page 8

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

General information

Amstone Charitable Trust Limited is a private company limited by shares, registered in England and Wales. Its registered office is at 3 Hollins House, 331 Hale Road, Altrincham, Cheshire, WA15 8TS.


1.Accounting policies

  
1.1

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.

Amstone Charitable Trust Limited 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.

  
1.2

Reconciliation with previous Generally Accepted Accounting Practice

In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatements were required.

  
1.3

Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Page 9

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

  
1.4

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.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured. 

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Company's accounting policies.

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

  
1.5

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.

All expenditure is inclusive of irrecoverable VAT.

Page 10

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

  
1.6

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
1.7

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.

  
1.8

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.

  
1.9

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.

Investment income, gains and losses are allocated to the appropriate fund.


2.

Income from donations and legacies



Unrestricted funds
2024
Total
funds
2024
        £
        £
 


Donations

5,813

5,813




Unrestricted funds
2023
Total
funds
2023
        £
        £


Donations

42,687

42,687


Page 11

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.

Investment income



Unrestricted funds
2024
Total
funds
2024
        £
        £



Investment income - bank interest

36

36




Unrestricted funds
2023
Total
funds
2023
        £
        £



Investment income - bank interest

49

49



4.

Expenditure on raising funds

Costs of raising voluntary income


Total
funds
2024
        £
Legal & professional fees                                                                                                                    0






Unrestricted funds
2023
Total
funds
2023
        £
        £



Legal & professional fees

613

613








Page 12

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.

Analysis of expenditure on charitable activities


Summary by fund type



Unrestricted funds
2024
Total
2024
        £
        £



Education and community cohesion

10,665

10,665

Religion

1,650

1,650

Financial hardship

550

550



12,865
12,865



Unrestricted funds
2023
Total
2023
        £
        £



Education and community cohesion

38,136

38,136

Religion

7,646

7,646

Financial hardship

750

750



46,532
46,532


6.

Analysis of expenditure by activities




Activities undertaken directly
2024
Support costs
2024
Total
funds
2024
        £
        £
        £




Education and community cohesion

10,580

85

10,665

Religion

1,650

-

1,650

Financial hardship

550

-

550



12,780
85
12,865





Page 13

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.Analysis of expenditure by activities (continued)

Activities undertaken directly
2023
Support costs
2023
Total
funds
2023
        £
        £
        £




Education and community cohesion

38,041

95

38,136

Religion

7,646

-

7,646

Financial hardship

750

-

750



46,437
95
46,532



7.


Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 29 February 2024, no Trustee expenses have been incurred (2023 - £NIL).


8.



Debtors


29 February
28 February
2024
2023
£
£


Due within one year

Tax recoverable
1,063
8,538

1,063
8,538


9.



Financial instruments


29 February
28 February
2024
2023
£
£

Financial assets

Financial assets measured at fair value through income and expenditure
532
73


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

Page 14

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.

Statement of funds


Statement of funds - current year

Balance at 1 March 2023
£
Income
£
Expenditure
£
Balance at 29 February 2024
£

Unrestricted funds





General Funds - all funds

8,611

(5,849)

(12,865)

(10,103)
 
Unallocated amounts

-

11,698

-

11,698
 


8,611
5,849
(12,865)
1,595

Page 15

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.

Statement of funds (continued)



Statement of funds - prior year

Balance at
1 March 2022
£
Income
£
Expenditure
£
Balance at
28 February 2023
£

Unrestricted funds





General Funds - all funds

13,020

42,736

(47,145)

8,611
 





11.

Summary of funds


Summary of funds - current year

Balance at 1 March 2023
£
 
Income
£
 
Expenditure
£
 
Balance at 29 February 2024
£
 
General funds

8,611

5,849

(12,865)

1,595
 


Summary of funds - prior year

Balance at
1 March 2022
£
 
Income
£
 
Expenditure
£
 
Balance at
28 February 2023
£
 
General funds

13,020

42,736

(47,145)

8,611
 

Page 16

 
AMSTONE CHARITABLE TRUST LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

12.

Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds
29 February
2024
Total
funds
29 February
2024
        £
        £


Current assets

1,595

1,595

Total 


1,595
1,595



Analysis of net assets between funds - prior period

Unrestricted funds
28 February
2023
Total
funds
28 February
2023
        £
        £


Current assets

8,611

8,611

Total 

8,611
8,611

Page 17