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REGISTERED COMPANY NUMBER: 07485524 (England and Wales)
REGISTERED CHARITY NUMBER: 1140395














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE GREG SECKER FOUNDATION

THE GREG SECKER FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Report of the Trustees 1 to 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 14

THE GREG SECKER FOUNDATION (REGISTERED NUMBER: 07485524)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023



The Trustees present their annual report together with the financial statements for the 1 January 2023 to 31 December 2023. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the 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 (FRS 102) (effective 1 January 2019) as amended by Update Bulletin 1 (effective 1 January 2019).


Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Greg Secker Foundation is a Not for Profit organisation committed to positively improving the quality of lives of people around the world. We focus on education life skills and leadership initiatives and we strive to equip communities with the essential tools for success. Our mission is to enable people to reach their full potential thereby transforming their lives and ultimately that of their community.

Public benefit
The Trustees confirm that they have complied with the duty in the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. The Trustees have referred to this guidance when reviewing the charity's aims and objectives and in planning future activities of the charity.

The Foundations current key objective is a community project in the Philippines which is the continuation of the Build a House, Build a Home project which created 100 homes in the Philippines for people affected by Typhoon Haiyan which hit the region in November 2013. The construction of the village was completed in January 2018. The scope of the new project is to create a sustainable community which will serve as a model for robust and affordable communities rebuilt after natural disaster.


THE GREG SECKER FOUNDATION (REGISTERED NUMBER: 07485524)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


OBJECTIVES AND ACTIVITIES
Social investments
ACHIEVEMENTS AND PERFORMANCE

a. REVIEW OF ACTIVITIES

Trading subsidiary

During the year the Foundation's trading subsidiary, K2AF Trading Ltd, received donations from the activities noted below amounting to £2,150.

1. Total donations received by the Foundation directly during the period amounted to £564.

Initiatives the Foundation supports:

Build a House, Build a Home, Restore a Community

The Greg Secker Foundation Village has been officially recognised as part of the municipal town of Lemery, Iloilo. The Homeowners Association has gone from strength to strength. The Foundation sponsored the Acamdic year feeding programme at the adopted Capinahan Primary School , having a significant impact on the nutrition of the school pupils from the Village. The Village continues with its self-sustainability programs implemented through he teachings of Ric Patricio. The Village now has its own grocery store, a vegetable farm and other agricultural initiative. Each Wednesday the villages secure a spot at local market where they sell or barter produce.

As reported last year the remaining work to be completed in respect to the infrastructure within the Greg Secker Foundation Village is further development of the road to the village. The Foundation has been assisting by working with the local team on how to encourage local government to commit to improving the public infrastructure serving the area. This work continues but has been slowed due to the Pandemic.

Once again these initiatives have been supported by donations from the charity's sister company, Learn To Trade Ltd, although Learn to Trade has decreased its fund-raising activities via clientele the Company has continued to give great support to the Foundation's projects.

Charity Supported

The Greg Secker Foundation current focus is supporting the Greg Secker Foundation, Philippines Inc.

Future Plans
Build a House, Build a Home

The Foundation will continue to support the Community projects in the Philippines.

Reserves Policy
As at 31 December 2023 the charity held unrestricted reserves of £125,369 (2022: £122,834). It is the policy of the Trustees to maintain sufficient reserves to continue meeting the Charity's objectives for a foreseeable period, even if there is a decrease in its incoming resources. The Trustees consider that the Charity has sufficient funds to continue pursuing its objectives.

During the year ended 31 December 2023, the Trustees have continued to focus on the Community projects for the Build a House, Build a Home. It was felt that in order for the overall project to be a success that the Foundation must support the sustainability initiatives. Focus will return to the continuation of raising funds for additional projects next year.


THE GREG SECKER FOUNDATION (REGISTERED NUMBER: 07485524)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


OBJECTIVES AND ACTIVITIES
GOING CONCERN

After making appropriate enquiries, the Trustees 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.

Structure, Governance and Management

a. CONSTITUTION

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 05/01/2011.

The company is constituted under a Memorandum of Association dated 05/01/2011 and is a registered charity number 1140395.

The name of the company was changed from the Knowledge to Action Foundation to the Greg Secker Foundation on 19/04/2015 to assist the company with its fundraising aims.

Greg Secker founded The Greg Secker Foundation in November 2010 with the aim of leveraging knowledge and contacts in the world of currency trading and international seminars to better the lives of disadvantaged children around the world. The Foundation focuses on helping children's charities and education initiatives but has recently expanded to assisting adults and families also.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

New Trustees are appointed by the existing Trustees and serve for 5 years after which they may put themselves forward for re appointment. The Trust Deed provides for a minimum of 3 Trustees and a maximum of 9 Trustees, with no more than 3 Trustees due for re appointment in any one year. There are currently three Trustees.

c. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Foundation is headed by Chairman Greg Secker, who is advised by the Board of Trustees who have key skills in development, company operations and charitable fulfilment. Strategic management, direction and high level objectives are conceived and observed at this level and Tactical management falls within the remit of the Foundation Manager, DR June Sanico.

At the Trustees meetings, the Trustees agree the board strategy and areas of activity for the foundation, including consideration of the Foundation's activities in the forthcoming year and potentially beyond. They also consider any grant applications received and set budgets for each project that the Foundation is involved in. In 2019 the key project for the Foundation remained Build a House, Build a Home, Restore a Community, which is a housing building project in the Philippines for victims of typhoon Haiyan. In order to raise funds for the Foundation and the Build a House, Build a Home project, we put our youth programmes on hold and focused on saving the funds donated by Learn to Trade and Smart Charts.
There were no other changes other than those listed on page 1.

STRUCTURE, GOVERNANCE AND MANAGEMENT

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07485524 (England and Wales)


THE GREG SECKER FOUNDATION (REGISTERED NUMBER: 07485524)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


Registered Charity number
1140395

Registered office
C/O CBHC Ltd, Steeple House
Suite 3, First Floor
Church Lane
Chelmsford
Essex
CM1 1NH

Trustees
G J Secker
Ms B A Honig
J F Demartini
P A J Wynn

Approved by order of the board of trustees on 29 October 2024 and signed on its behalf by:





G J Secker - Trustee

THE GREG SECKER FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and capital grants 2,715 6

Other income 12,864 -
Total 15,579 6

EXPENDITURE ON
Charitable activities 2 4,543 6,431


Other (1,499 ) -
Total 3,044 6,431

NET INCOME/(EXPENDITURE) 12,535 (6,425 )


RECONCILIATION OF FUNDS
Total funds brought forward 112,834 119,259

TOTAL FUNDS CARRIED FORWARD 125,369 112,834

THE GREG SECKER FOUNDATION (REGISTERED NUMBER: 07485524)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Investments 5 1 1

CURRENT ASSETS
Debtors 6 344,250 331,386
Cash at bank 589 24
344,839 331,410

CREDITORS
Amounts falling due within one year 7 (219,471 ) (218,577 )

NET CURRENT ASSETS 125,368 112,833

TOTAL ASSETS LESS CURRENT
LIABILITIES

125,369

112,834

NET ASSETS/(LIABILITIES) 125,369 112,834
FUNDS 8
Unrestricted funds 125,369 112,834
TOTAL FUNDS 125,369 112,834

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.


THE GREG SECKER FOUNDATION (REGISTERED NUMBER: 07485524)

BALANCE SHEET - continued
31 DECEMBER 2023

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 29 October 2024 and were signed on its behalf by:





G J Secker - Trustee

THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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, with the exception of investments which are included at market value.

The Greg Seeker Foundation 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.

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.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

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.
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.
Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

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.


THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


1. ACCOUNTING POLICIES - continued

Fund accounting
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.

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.

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.

Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gains/(losses) on investments' in the Statement of financial activities incorporating income and expenditure account.

Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

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.

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.

Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.


THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. CHARITABLE ACTIVITIES

Raising donations and legacies
31/12/23 31/12/22
£    £   
Support costs - 6,431

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and capital grants 6

EXPENDITURE ON
Charitable activities 6,431


NET INCOME/(EXPENDITURE) (6,425 )


RECONCILIATION OF FUNDS
Total funds brought forward 119,259

TOTAL FUNDS CARRIED FORWARD 112,834


THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
MARKET VALUE
At 1 January 2023 and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

K2AF Trading Limited
Registered office: Suite 3, First Floor, Steeple House, Church Lane, Chelmsford, Essex, England, CM1 1NH
%
Class of share: holding
Ordinary 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 344,250 331,386

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Amounts owed to group undertakings 18,560 18,560
Amts owed by/to related party 197,911 195,518
Accrued expenses 3,000 4,499
219,471 218,577


THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. MOVEMENT IN FUNDS
Net
movement At
At 1/1/23 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 112,834 12,535 125,369

TOTAL FUNDS 112,834 12,535 125,369

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 15,579 (3,044 ) 12,535

TOTAL FUNDS 15,579 (3,044 ) 12,535


Comparatives for movement in funds

Net
movement At
At 1/1/22 in funds 31/12/22
£    £    £   
Unrestricted funds
General fund 119,259 (6,425 ) 112,834

TOTAL FUNDS 119,259 (6,425 ) 112,834

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 6 (6,431 ) (6,425 )

TOTAL FUNDS 6 (6,431 ) (6,425 )

THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1/1/22 in funds 31/12/23
£    £    £   
Unrestricted funds
General fund 119,259 6,110 125,369

TOTAL FUNDS 119,259 6,110 125,369

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 15,585 (9,475 ) 6,110

TOTAL FUNDS 15,585 (9,475 ) 6,110

9. RELATED PARTY DISCLOSURES

As at the balance sheet date, the charity owed £197,911 (2022: £195,518) to Knowledge to Action Limited and £18,560 (2022: 18,560 ) to K2AF Trading Limited. Both companies associated with the charity through G Secker, a Trustee of the charity and are not interest bearing and are repayable upon demand.

As at the balance sheet date, the charity was owed £132,194 (2022: £132,194) by Knowledge to Action Pty Ltd and £212,056 (2022: £199,192) by Smartcharts Limited. Both companies associated with the charity through G Secker, a Trustee of the charity.


THE GREG SECKER FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are the Trustees throughout the year under review and the prior period.