REGISTERED COMPANY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SPURLING CANNON COMMUNITY FUND |
REGISTERED COMPANY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SPURLING CANNON COMMUNITY FUND |
SPURLING CANNON COMMUNITY FUND |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 | to | 7 |
SPURLING CANNON COMMUNITY FUND (REGISTERED NUMBER: 08116689) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 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 March 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 |
The Spurling Cannon Community Fund is a charitable fund set up for the sole purpose of raising funds through donations and fund-raising events organised by employees of Spurling Cannon Limited. These funds are then disbursed to charitable organisations, community groups and projects and other deserving causes. |
Significant activities |
Due to the impact of Covid-19 there has been no activities in the year as fundraising plans have all been put on hold. |
FINANCIAL REVIEW |
Reserves policy |
The administrative costs of the Community Fund are paid for by Spurling Cannon Ltd. This allows for all of the generated net income from fund raising activities to be passed on to the nominated Charity, and therefore the Community Fund does not hold any reserves. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The company was incorporated on 22 June 2013 and is limited by guarantee. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
The Spurling Cannon Community Fund is currently seeking registration with the Charity Commission. It is registered with HM Revenue & Customs as a Charity using the above number. |
Approved by order of the board of trustees on |
SPURLING CANNON COMMUNITY FUND (REGISTERED NUMBER: 08116689) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
SPURLING CANNON COMMUNITY FUND |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1 |
SPURLING CANNON COMMUNITY FUND (REGISTERED NUMBER: 08116689) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 6 |
Unrestricted funds | 1 |
TOTAL FUNDS | 1 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 |
SPURLING CANNON COMMUNITY FUND |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 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 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. |
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 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
3. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Directors |
SPURLING CANNON COMMUNITY FUND |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
NET INCOME |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1 |
5. | DONATIONS |
Donations made in the previous years were: |
2020 | SpeakUp CIC | £2,080 |
2019 | Holding On Letting Go | £2,114 |
2018 | Beach Within Reach | £1,516 |
2017 | Canterbury Oast Trust | £2,466 |
2016 | Catching Lives | £2,124 |
2015 | Kent, Surrey and Sussex Air Ambulance | £2,663 |
2014 | East Kent Hospitals Special Care Baby Unit | £2,697 |
2013 | Pilgrims Hospices in East Kent | £1,708 |
6. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/4/23 | in funds | 31/3/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 1 | - | 1 |
TOTAL FUNDS | - | 1 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
TOTAL FUNDS | - |
SPURLING CANNON COMMUNITY FUND |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | RELATED PARTY DISCLOSURES |
8. | FUNDS |
Restricted funds relate to money raised directly for the beneficiary Charity. |
The balance of £1 in unrestricted funds represent a donation from the Trustees of the Charity to ensure there is always a balance held in the Charity Bank account as all surplus money is donated directly to the beneficiary Charity. |