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COMPANY REGISTRATION NUMBER: 13125472
CHARITY REGISTRATION NUMBER: 1198446
The Hypatia Foundation
Company Limited by Guarantee
Unaudited Financial Statements
31 December 2023
The Hypatia Foundation
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2023
Page
Trustees' annual report (incorporating the director's report)
1
Statement of financial activities (including income and expenditure account)
5
Statement of financial position
6
Notes to the financial statements
7
The Hypatia Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 December 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023 .
Chair's report
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 December 2023. The 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 Charity 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.
Reference and administrative details
Registered charity name
The Hypatia Foundation
Charity registration number
1198446
Company registration number
13125472
Principal office and registered
71 New Dover Road
office
Canterbury
CT1 3DZ
England
The trustees
J Greenwood
(Resigned 25 September 2023)
K Crush
A M Lloyd
(Resigned 11 January 2024)
K V Bright
Accountants
Burgess Hodgson LLP
Chartered accountants
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
Structure, governance and management
a. Constitution
The Hypatia Foundation is registered as a charitable company limited by guarantee and was set up by a Trust deed.
b. Methods of appointment or election of Trustees
Trustees are appointed and retire in accordance with the requirements of the Articles of Association. In selecting new individuals for appointment as Charity Trustees, the Charity will have regard to skills, knowledge and experience needed for an effective administration of the Charity.
Objectives and activities
a. Policies and objectives
The objectives of the charity are to promote gender inclusivity through supporting the growth of women in the pursuit and achievement of their ambitions. The trustees in particular seek to support charities or projects in any or all of the following areas:
- domestic abuse;
- period poverty;
- getting back into the workplace, for example smart works, offering clothing for interview, mentoring charities with heavy hitting connected influencers to join the dots for women with career aspirations, training funds;
- micro loans for business founders
- construction, STEM, security industry,
- women's sports, especially those perceived as male such as boxing, angling, rugby, football or cricket;
- street and social safety
- breaking the cycle of crime or drugs
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)'.
Achievements and performance
a. Main achievements of the Charity
This year the charity provided funding to three projects, each run by a registered charity, which fall within its objectives:
A joint venture grant to Bipolar UK and East Kent Rape Crisis Centre
The trustees were given a presentation and unanimously agreed that they would like to support this joint venture, and particularly the webinar. The webinar will be able to reach a sizeable audience and will create a lasting resource, available to everyone online as the audience grows. A total of £12,500 will be granted with £7,500 being allocated to Bipolar UK and £5,000 being allocated to East Kent Rape Crisis Centre.
A grant to Bipolar UK
This funding provides monthly access to support groups for all women aged 18+ that are affected by Bipolar.
A grant to Sussex Pathways
This grant was used to enable their new project "Women's Link" to recruit one new part-time member of staff as a Coordinator, who will link with both the women's projects and take referrals from the women's pathways to change, to work with them to enable and ensure they are work ready and can go to the women back to work project.
A grant to The Beehive
The trustees approved a grant to cover both the costs of a storage facility needed to help raise funds via their online shop on eBay and enough toiletries and underwear for 20 individuals.
A grant to Switch The Play
A core grant was provided to support vulnerable women leaving sport, giving them skills to cope with the trauma of such a significant transition.
A grant to Furnishing Futures CIO
The trustees unanimously agreed to support Furnishing Futures with a grant of £5,000 to assist with the purchase of white goods and mattresses for women and children recently rehomed due to fleeing domestic violence.
A grant to Coach Core Foundation
This grant will enable Coach Core to train 6 disadvantaged young women access their Sports Coach Apprenticeship Scheme., enabling them to work as Community Activator Sports Coaches in their community inspiring more young people to become active.
A grant to Rising Sun Domestic Violence & Abuse Charity
A small grant of £1,000 was made to support Easter eggs, activities and events for children.
A grant to the East Kent Rape Crisis Centre
Continued funding to enable children and young people who have experienced sexual abuse the opportunity to access specialist counselling in a safe space at school. Out of term time the project runs from one of the East Kent Rape Crisis Centre's outreach sites or at a local community centre to ensure continuity of the therapy.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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.
b. Reserves policy
The Trustees aim to hold reserves to cover the costs of operating the Charity for 6 months. Given the grant making nature of the charity and as administrative costs are currently very low this has comfortably been met during the year, with adequate funds held to cover any grant opportunities should any arise which fit well with the charity's objectives. The Trustees will continue to review the reserves policy in line with the charity's future aims.
Statement of Trustees' responsibilities
The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the 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 in the applicable Charities SORP;
- 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 charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 25 October 2024 and signed on behalf of the board of trustees by:
K Crush
Trustee
The Hypatia Foundation
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 December 2023
2023
2022
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
11,160
11,160
164,690
--------
--------
---------
Total income
11,160
11,160
164,690
--------
--------
---------
Expenditure
Expenditure on charitable activities
7,8
165,104
165,104
45,379
---------
---------
---------
Total expenditure
165,104
165,104
45,379
---------
---------
---------
---------
---------
---------
Net (expenditure)/income and net movement in funds
( 153,944)
( 153,944)
119,311
---------
---------
---------
Reconciliation of funds
Total funds brought forward
214,122
214,122
94,811
---------
---------
---------
Total funds carried forward
60,178
60,178
214,122
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Hypatia Foundation
Company Limited by Guarantee
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
13
41,271
Cash at bank and in hand
62,038
174,711
--------
---------
62,038
215,982
Creditors: amounts falling due within one year
14
1,860
1,860
--------
---------
Net current assets
60,178
214,122
--------
---------
Total assets less current liabilities
60,178
214,122
--------
---------
Net assets
60,178
214,122
--------
---------
Funds of the charity
Unrestricted funds
60,178
214,122
--------
---------
Total charity funds
15
60,178
214,122
--------
---------
For the year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
K Crush
Trustee
The Hypatia Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 71 New Dover Road, Canterbury, CT1 3DZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. The Hypatia Foundation meets the definition of a public benefit entity under FRS 102.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Limited by guarantee
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 £10 per member of the company.
5. Donations and legacies
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Donations
Donations
11,160
11,160
164,690
164,690
--------
--------
---------
---------
6. Analysis of grants
2023
2022
£
£
Bipolar UK
10,000
East Kent Rape Crisis Centre
66,871
20,720
Project Dignity
10,000
Rising Sun
1,000
5,000
Coach Core Foundation
21,000
Furnishing Futures CIO
5,000
Sussex Pathways
31,352
Switch the Play Foundation
24,500
The Beehive, Pneuma Church
2,000
---------
--------
161,723
35,720
---------
--------
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2023
Unrestricted Funds
Total Funds 2022
£
£
£
£
Charitable activity - Grant making
161,996
161,996
35,848
35,848
Support costs
3,108
3,108
9,531
9,531
---------
---------
--------
--------
165,104
165,104
45,379
45,379
---------
---------
--------
--------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2023
Total fund 2022
£
£
£
£
Charitable activity - Grant making
161,996
1,368
163,364
43,519
Governance costs
1,740
1,740
1,860
---------
-------
---------
--------
161,996
3,108
165,104
45,379
---------
-------
---------
--------
9. Analysis of support costs
Analysis of support costs
Total 2023
Total 2022
£
£
£
General office
1,368
1,368
7,671
Governance costs
1,740
1,740
1,860
-------
-------
-------
3,108
3,108
9,531
-------
-------
-------
10. Independent examination fees
2023
2022
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,860
----
-------
11. Staff costs
The average head count of employees during the year was 4 (2022: 4 ).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees in the current or prior year.
13. Debtors
2023
2022
£
£
Prepayments and accrued income
41,271
----
--------
14. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,860
1,860
-------
-------
15. Analysis of charitable funds
Unrestricted funds
At 1 January 2023
Income
Expenditure
At 31 December 2023
£
£
£
£
General funds
214,122
11,160
(165,104)
60,178
---------
--------
---------
--------
At 1 January 2022
Income
Expenditure
At 31 December 2022
£
£
£
£
General funds
94,811
164,690
(45,379)
214,122
--------
---------
--------
---------
16. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2023
£
£
Current assets
62,038
62,038
Creditors less than 1 year
(1,860)
(1,860)
--------
--------
Net assets
60,178
60,178
--------
--------
Unrestricted Funds
Total Funds 2022
£
£
Current assets
215,982
215,982
Creditors less than 1 year
(1,860)
(1,860)
---------
---------
Net assets
214,122
214,122
---------
---------