REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
INTERFAITH IN ACTION |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
FOR |
INTERFAITH IN ACTION |
INTERFAITH IN ACTION |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 | to | 6 |
INTERFAITH IN ACTION (REGISTERED NUMBER: 07511477) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JANUARY 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
Interfaith in Action objectives are to: |
- Advance any or all of the religious faiths of the world; |
- Promote knowledge and mutual understanding and respect of the beliefs and practices of different religious faiths; |
- Advance religious education and promote awareness of religious faith and faiths, in particular to advance the research, study and better understanding of the distinctive features of the religious faiths of the world and similarities between them; and |
- Such other charitable activities as the trustees in their discretion think fit. |
Public benefit |
Our main activities and who we try to help are described below. All our charitable activities focus on the advancement of the education of the public in faith and development. This may take any of the following forms: |
- The promotion of mutual understanding of religious faiths. |
- Supporting of religious education and activities beyond the boundaries of individual faiths, and |
- To engage in activities that harness the energies of faith communities. |
To achieve these goals, the charity anticipates periodically undertaking a variety of fund raising events and activities. |
ACHIEVEMENT AND PERFORMANCE |
Ensuring our work delivers our aims |
We will review our aims, objectives and activities each year. The review looks at what we achieved in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups or individuals we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees will consider how planned activities will contribute to the aims and objectives they have set. |
Review of the period and future developments |
The Trustees continue to promote the aims of the charity and to explore opportunities regarding projects and the funding thereof. |
The Charity anticipates the efforts of the Trustees to come to fruition in due course in the realms of multi faith meetings with various organisations. The funds for sponsoring of projects it is intended will follow from this. |
Along with many charities and society in general, for part of the period under review the charity has been affected by the impact of the Covid-19 pandemic, and the Trustees' abilities to achieve any intended projects and funding continued to be challenging in the period. It is hoped that ongoing activities and opportunities will bear fruit in time. |
FINANCIAL REVIEW |
Reserves policy |
The trustees have reviewed the reserves of the charity. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves, presently all an unrestricted fund. |
The review concluded that to allow the charity to be managed efficiently and to provide a buffer against interrupting ongoing commitments as well as ad hoc projects, a general reserve needs to be maintained. As at 31 January 2024 this reserve had not been established reflecting the present low level of activity. The level of reserve will be reviewed regularly to ensure sufficient funding from the principal benefactor whilst finding new donors for specific project as well as exploring alternate forms of fund raising. |
INTERFAITH IN ACTION (REGISTERED NUMBER: 07511477) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 JANUARY 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Approved by order of the board of trustees on |
INTERFAITH IN ACTION |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 63 |
INTERFAITH IN ACTION (REGISTERED NUMBER: 07511477) |
BALANCE SHEET |
31 JANUARY 2024 |
31.1.24 | 31.1.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 4 |
Unrestricted funds | 63 |
TOTAL FUNDS | 63 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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. |
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 |
INTERFAITH IN ACTION |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
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. |
Taxation |
The charitable company is a registered charity and as a result, is not liable to income tax or capital gains tax. Value Added Tax is not recoverable by the charity and, as such, is included in the relevant costs in these financial statements. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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. |
2. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. |
3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 63 |
INTERFAITH IN ACTION |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2024 |
4. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.2.23 | in funds | 31.1.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 63 | - | 63 |
TOTAL FUNDS | - | 63 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
TOTAL FUNDS | - |
5. | RELATED PARTY DISCLOSURES |
6. | CONTROLLING INTEREST |
The Trustees are jointly responsible for the control of the company. |
7. | SHARE CAPITAL |
The charitable company is a private company limited by guarantee and has no share capital. In the event of a winding up, each member has guaranteed to contribute to the assets of the company an amount not exceeding one pound. At 31 January 2024 the number of members was four. |