Charity registration number 1107762
Company registration number 04665250 (England and Wales)
ONE WORLD WEEK
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ONE WORLD WEEK
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
S J Hirom
J Jilani
I Wilson
S James
Charity number
1107762
Company number
04665250
Registered office
15 Bryngwyn Road
Newport
NP20 4JS
Independent examiner
UHY Hacker Young
Bradbury House
Mission Court
Newport
Gwent
United Kingdom
NP20 2DW
ONE WORLD WEEK
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the accounts
6 - 12
ONE WORLD WEEK
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document, 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) (effective 1 January 2015)”.

 

The charity has now ceased with effect from 4 April 2024.

Objectives and activities

The objectives of the Charity were:

 

 

 

The Charity’s work in 2023-24

The charity has worked on closing down following a decision at the Trustees Meeting (AGM 2021, Part 2) held on 6 February 2022 to close the Charity. The charity closed with effect from 4 April 2024.

 

All remaining assets have been disposed of and all remaining funds distributed to like minded charities.

The One World Week Website:

The Homepage was edited to include the information about closure of the Charity and a new page “OWW is Changing” included the closure statement and how OWW local organisers could continue to use the website’s existing resources and guidance; contact details were provided for WCIA and Global Dimension for up to date information and resources. The rest of the website was edited to enable it to be used without further supervision (i.e. to exclude interactions other than accessing resources and links to other organisations). The website is set to run until April 2025.

 

Financial Issues:

All fundraising ceased:

All cancellations were completed by the end of the financial year.

Public benefit

One World Week sought to always comply with the requirements of charity law and the guidance published by the Charity Commission, particularly the imperative to ensure that the activities of One World Week demonstrated public benefit, which it did this year by distributing remaining funds to like minded charities.

 

The Charity’s contributions to its objectives were for the public benefit. The Trustees know of no related drawbacks to the activities of the Charity, the general public is the beneficiary, the benefit is not restricted by geography nor price and the poor are specifically included. The Charity confers no private benefits. Whilst deciding at Trustees meetings, what activities the Charity should undertake, Trustees have paid due regard to Charity Commission guidance on public benefit.

ONE WORLD WEEK
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Use of volunteers

One World Week centrally was run almost entirely by volunteers including some of the trustees working in a voluntary capacity. The exception is some paid book-keeping work. All volunteers work from home, we have no physical office other than an address. Emails are responded to by a trustee volunteer.

Financial review

One World Week has made a total deficit for the year of £20,414 (2023 - £559). The total reserves currently stand at £nil (2023 - £20,414), of which £nil (2023 - £7,053) are designated for potential wind down costs.

 

One World Week is very grateful to the donors who continued to support them during closure through standing orders. The total income raised in 2023-24 came to £907.

Reserves policy

No reserves are needed as the charity has ceased activities and all remaining funds have been distributed.

Structure, governance and management

The Charity was controlled by its governing document, the Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

 

One World Week was a not-for-profit company with charitable status since January 2005.

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:

S J Hirom
J Jilani
I Wilson
S James
Recruitment of trustees

The Trustees report was approved by the Board of Trustees.

I Wilson
Trustee
Dated: 14 October 2024
ONE WORLD WEEK
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ONE WORLD WEEK
- 3 -

I report to the Trustees on my examination of the financial statements of One World Week (the Charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

UHY Hacker Young
Bradbury House
Mission Court
Newport
Gwent
NP20 2DW
United Kingdom
Dated: 14 October 2024
ONE WORLD WEEK
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Unrestricted
Unrestricted
funds
funds
2024
2023
Notes
£
£
Income from:
Donations and legacies
2
899
2,533
Investments
3
8
1
Total income
907
2,534
Expenditure on:
Charitable activities
4
6,550
3,093
Other expenditure
9
14,771
-
Total expenditure
21,321
3,093
Net expenditure and movement in funds
(20,414)
(559)
Reconciliation of funds:
Fund balances at 1 April 2023
20,414
20,973
Fund balances at 31 March 2024
-
20,414

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

ONE WORLD WEEK
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 5 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
-
43
Current assets
Debtors
12
70
234
Cash at bank and in hand
7,334
21,887
7,404
22,121
Creditors: amounts falling due within one year
Other creditors
13
7,404
1,750
Net current assets
-
20,371
Total assets less current liabilities
-
20,414
Net assets excluding pension liability
-
20,414
The funds of the Charity
Unrestricted funds
-
20,414
-
0
20,414

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 March 2024.

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 14 October 2024
I Wilson
Company registration number 04665250 (England and Wales)
ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
1
Accounting policies
Charity information

One World Week is a private company limited by guarantee incorporated in England and Wales. The registered office is 15 Bryngwyn Road, Newport, NP20 4JS.

1.1
Accounting convention

The accounts have been prepared in accordance with the Charity's governing document, 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 Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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 accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Charity has ceased with effect from 4 April 2024. Thus the accounts have been prepared on a basis other than going concern, no adjustments have been necessary as a result of ceasing to apply the going concern basis.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

1.4
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.

ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 7 -
1.5
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.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

 

Expenditure on charitable activities includes the general costs undertaken to further the purposes of the charity and their associated support costs.

1.6
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% on reducing balance
1.7
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
899
2,533
ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
3

Investments

Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Interest receivable
8
1
4
Charitable activities
2024
2023
£
£
Depreciation and impairment
8
15

Insurance

148
393

Sundries

222
187

Web support and maintenance

3,746
482
4,124
1,077
Share of governance costs (see note 5)
2,426
2,016
6,550
3,093
5
Support costs
Support costs
Governance costs
2024
2023
Basis of allocation
£
£
£
£
Independent examination  fees
-
2,026
2,026
1,616
Governance

Accountancy and payroll service

-
400
400
400
Governance
-
2,426
2,426
2,016
Analysed between
Charitable activities
-
2,426
2,426
2,016

 

ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
6
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
2,026
1,616
Depreciation of owned tangible fixed assets
8
15
Loss on disposal of tangible fixed assets
35
-
7
Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year.

8
Employees
There were no employees during the year.
9
Other expenditure
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Net loss on disposal of tangible fixed assets
35
-

Donations to other charities on closure

14,736
-
14,771
-
10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
11
Tangible fixed assets
Computers
£
Cost
At 1 April 2023
3,092
Disposals
(3,092)
Depreciation and impairment
At 1 April 2023
3,049
Depreciation charged in the year
8
Eliminated in respect of disposals
(3,057)
Carrying amount
At 31 March 2024
-
At 31 March 2023
43
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
70
234
13
Other creditors falling due within one year
2024
2023
£
£
Other creditors
7,404
-
Accruals and deferred income
-
1,750
7,404
1,750
ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
14
Unrestricted funds -

These are unrestricted funds which are material to the Charity's activities made up as follows:

At 1 April 2023
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 March 2024
£
£
£
£
£
£
General fund
20,414
907
(21,321)
-
-
-
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
Gains and losses
At 31 March 2023
£
£
£
£
£
£
General fund
20,973
2,534
(3,093)
-
-
20,414
15
Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds
Balance at
1 April 2022
Incoming resources
Balance at
1 April 2023
Resources expended
Balance at
31 March 2024
£
£
£
£
£
Wind down costs
7,053
-
7,053
(7,053)
-
7,053
-
7,053
(7,053)
-

The amount designated relates to potential wind down costs to the charity if further funding is not obtained.

16
Analysis of net assets between funds
Unrestricted
funds
2024
£
At 31 March 2024:
-
ONE WORLD WEEK
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16
Analysis of net assets between funds
(Continued)
- 12 -
Unrestricted
funds
2023
£
At 31 March 2023:
Tangible assets
43
Current assets/(liabilities)
20,371
20,414
17
Events after the reporting date

The Trustees have handed over One World Week's activities to other like minded charities and distributed all remaining funds to the same charities.

18
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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