Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 14 May 2024 1 January 2023 31 December 2023 31 December 2023 13121463 T Rivett-Carnac K Figueres iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13121463 2022-12-31 13121463 2023-12-31 13121463 2023-01-01 2023-12-31 13121463 frs-core:CurrentFinancialInstruments 2023-12-31 13121463 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13121463 frs-bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 13121463 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13121463 frs-bus:SmallEntities 2023-01-01 2023-12-31 13121463 frs-bus:Audited 2023-01-01 2023-12-31 13121463 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13121463 frs-bus:Director1 2023-01-01 2023-12-31 13121463 frs-bus:Director2 2023-01-01 2023-12-31 13121463 frs-countries:EnglandWales 2023-01-01 2023-12-31 13121463 2021-12-31 13121463 2022-12-31 13121463 2022-01-01 2022-12-31 13121463 frs-core:CurrentFinancialInstruments 2022-12-31 13121463 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 13121463
GLOBAL OPTIMISM IMPACT
Financial Statements
For The Year Ended 31 December 2023
Mutu Accountancy
Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 13121463
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 40,519 486
Cash at bank and in hand 2,661,634 172,788
2,702,153 173,274
Creditors: Amounts Falling Due Within One Year 5 (2,679,641 ) (199,035 )
NET CURRENT ASSETS (LIABILITIES) 22,512 (25,761 )
TOTAL ASSETS LESS CURRENT LIABILITIES 22,512 (25,761 )
NET ASSETS/(LIABILITIES) 22,512 (25,761 )
Income and Expenditure Account 22,512 (25,761 )
MEMBERS' FUNDS 22,512 (25,761)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
T Rivett-Carnac
Director
27/08/2024
The notes on pages 2 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
GLOBAL OPTIMISM IMPACT is a private company, limited by guarantee, incorporated in England & Wales, registered number 13121463 . The registered office is 7 Chelsea Road, Bath, BA1 3DU.
The prinicpal activities of the company are the planning and delivery of a weekly climate podcast; delivery of in-person retreats; and implementation of communications activities to educate and raise awareness of climate-related matters. All activities are primarily delivered through philanthropic grants and donations.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements have been prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The company meets its day to day working capital requirements through the utilisation of its own funds. The company's forecasts and projections indicate that it is reliant on securing further funding in order to continue as a going concern for the foreseeable future. 
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the proviso that a material uncertainty exists over the company's future revenue streams. 
2.3. Turnover
Turnover comprises of donations, retreat income and grants received in support of the company's projects and activities. Donations are recognised in the Statement of Income and Retained Earnings when income is probable and can be measured with sufficient reliability. 
Interest income
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method. 
Debtors 
Short term debtors are measured at the transaction price, less any impairment. 
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 
Creditors
Short term creditors are measured at the transaction price, less any impairment. 
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Provisions for Liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year the Company becomes aware of the obligation and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, considering relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 3)
4 3
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 11,616 -
Prepayments and accrued income 23,328 486
Other debtors 5,575 -
40,519 486
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 181,948 73,467
Corporation tax 8,433 -
Other creditors 1,286 311
Accruals and deferred income 2,487,974 125,257
2,679,641 199,035
Accruals and deferred income largely consists of restricted grant income not yet spent.
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
7. FRC's Ethical Standard - Provision Available for Small Entities
It is common with other businesses a similar size and nature to use the auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
Global Optimism Impact uses Mutu Accountancy to assist with such duties and Sedulo Audit Limited have been engaged as auditors. 
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8. Audit Information
The auditors report on the account of GLOBAL OPTIMISM IMPACT for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Katelyn Dutton (Senior Statutory Auditor) for and on behalf of Sedulo , Statutory Auditor
Sedulo
5th Floor Walker House
Exchange Flags
Liverpool
L2 3YL
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