REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
INTERTALENT LOUDER FOUNDATION LTD |
(A COMPANY LIMITED BY GUARANTEE) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
INTERTALENT LOUDER FOUNDATION LTD |
(A COMPANY LIMITED BY GUARANTEE) |
INTERTALENT LOUDER FOUNDATION LTD |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 | to | 8 |
INTERTALENT LOUDER FOUNDATION LTD |
Reference and Administrative Details |
for the Year Ended 30 June 2024 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | TC Group |
First Floor |
Spitalfields House |
Stirling Way |
Borehamwood |
Hertfordshire |
WD6 2FX |
BANKERS |
London |
SW1Y 5EY |
INTERTALENT LOUDER FOUNDATION LTD (REGISTERED NUMBER: 08506081) |
Report of the Trustees |
for the Year Ended 30 June 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 30 June 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). |
Structure, governance and management |
INTERTALENT LOUDER FOUNDATION LTD, A COMPANY LIMITED BY GUARENTEE, INCORPORATED ON 26 April 2013, AND REGISTERED AS A CHARITY ON 07 March 2014.The governing document is the company's Memorandum and Articles of Association dated 12 February 2018. |
The trustees determine the general policy of the charity and are responsible for its day to day running. They meet regularly to assess the payments of grants |
Achievements and performance |
During the year the foundation received donations of £22,690 (2023: £15,070) and made grants to individuals /institutions of £22,691 (2023: £17,365), net loss resources for the year amounted to £26 (2023: £2,355). The trustees expect the Trust to continue to make grants in a similar way going forward, subject to the level of donation income received. |
Financial review |
At the balance sheet date there was a funds deficiency of £881 (2023: £855). The financial statements have been drawn up on a going concern basis as Trustees have confirmed its continued support to enable the Charity to meet its objectives. |
Grant making policy |
Grants are made to individuals and institutions which accord with the objectives of charity. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Charity's objectives was to provide financial support and mentoring to help young people between the ages of 16 and 25 in achieving their dreams and ambitions by the advancement of education, in particular technical and vocational training, and other charitable purposes which are consistent with the objects stated above as the trustees shall in their absolute discretion determine. |
Significant activities |
There were no significant activities in the year. |
Public benefit |
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
During the year the Company did not make any charitable donation. |
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. |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
INTERTALENT LOUDER FOUNDATION LTD |
Independent examiner's report to the trustees of INTERTALENT LOUDER FOUNDATION LTD ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 accounts 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 accounts to be reached. |
Jonathan Bregman BSc FCA FCCA |
TC Group |
First Floor |
Spitalfields House |
Stirling Way |
Borehamwood |
Hertfordshire |
WD6 2FX |
24 January 2025 |
INTERTALENT LOUDER FOUNDATION LTD |
Statement of Financial Activities |
for the Year Ended 30 June 2024 |
30.6.24 | 30.6.23 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Raising funds | 2 |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | ( |
) | ( |
) |
TOTAL FUNDS CARRIED FORWARD | ( |
) | ( |
) | (855 | ) |
INTERTALENT LOUDER FOUNDATION LTD (REGISTERED NUMBER: 08506081) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Unrestricted | Restricted | Total | Total |
fund | fund | funds | funds |
Notes | £ | £ | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) | ( |
) | ( |
) |
FUNDS | 7 |
Unrestricted funds | ( |
) | (855 | ) |
TOTAL FUNDS | ( |
) | (855 | ) |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 |
INTERTALENT LOUDER FOUNDATION LTD |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Accounting convention |
The financial statements have been prepared in accordance with the Charity's Constitution, the Charities Act 2011 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 2019)". The Charity is a Public Benefit Entity as defined by FRS 102. |
Income |
Income is recognised when the trust 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. |
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. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Charitable funds |
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. |
Going concern |
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. |
2. | RAISING FUNDS |
Raising donations and legacies |
30.6.24 | 30.6.23 |
£ | £ |
Support costs |
3. | GRANTS PAYABLE |
30.6.24 | 30.6.23 |
£ | £ |
Grants payable | 22,691 | 17,365 |
All grants have been paid in furtherance of the charity's objectives. |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
INTERTALENT LOUDER FOUNDATION LTD |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | EMPLOYEES |
The average number of employees is Nil. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other creditors |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.7.23 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | (855 | ) | (26 | ) | (881 | ) |
TOTAL FUNDS | ( |
) | (26 | ) | (881 | ) |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 22,690 | (22,716 | ) | (26 | ) |
TOTAL FUNDS | ( |
) | (26 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,501 | (2,356 | ) | (855 | ) |
TOTAL FUNDS | 1,501 | (2,356 | ) | (855 | ) |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 15,069 | (17,425 | ) | (2,356 | ) |
TOTAL FUNDS | 15,069 | (17,425 | ) | (2,356 | ) |
INTERTALENT LOUDER FOUNDATION LTD |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.7.22 | in funds | 30.6.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,501 | (2,382 | ) | (881 | ) |
TOTAL FUNDS | 1,501 | (2,382 | ) | (881 | ) |
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 | 37,759 | (40,141 | ) | (2,382 | ) |
TOTAL FUNDS | 37,759 | (40,141 | ) | (2,382 | ) |
8. | RELATED PARTY DISCLOSURES |
Included in creditors amounts falling due within one year is an amount of £900 (2023: £900) owed to a related company. |
9. | LIMITED BY GUARANTEE |
The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £10 to the company should it wind up. At 30 June 2024 there were 3 members. |