REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
THE EAST RIDING FOUNDATION LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
THE EAST RIDING FOUNDATION LIMITED |
THE EAST RIDING FOUNDATION LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 9 |
THE EAST RIDING FOUNDATION LIMITED (REGISTERED NUMBER: 03834562) |
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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity has been established to promote the advancement of education, the relief of poverty, the advancement of religion, and such other purposes as are exclusively charitable under the laws of England and Wales. |
The charity is a public benefit entity. |
All donations made by the charity are given to further the charity's charitable purposes for the public benefit. Any suitable requests for donations are considered by the trustees to ensure the widest range of people benefit from the charity's aid. |
When deciding on donations to be made, the trustees have had regard to the Charity Commission guidance on public benefit. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
There was one donation in the year of £10,932. All the funds have now been distributed. |
FINANCIAL REVIEW |
Reserves policy |
Unrestricted funds are kept at a level which will enable the charity to make donations on an ad hoc basis. |
Going concern |
The trustees are in the process of winding up the charity. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing documents, the Memorandum and Articles of Association, and constitutes a limited company, limited by shares. |
Recruitment and appointment of new trustees |
As set out in the Articles of Association the trustees are appointed by the company's shareholders, acting unanimously, and shall serve until their period of office is terminated under Article 19. |
Organisational structure |
The trustees meet as required to allocate donations to suitable charities. Decisions are made on a majority basis. |
Related parties |
The East Riding Foundation Limited is wholly owned by the East Riding Charitable Trust. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The charity has not entered into any long term commitment to support any organisations or charities and hence has minimal exposure to any risks involved in the management of the charity's funds. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
THE EAST RIDING FOUNDATION LIMITED (REGISTERED NUMBER: 03834562) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 JUNE 2024 |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Solicitors |
Maurice Turnor Gardner LLP |
Milton House |
Milton Street |
London |
EC2Y 9BH |
Bankers |
HSBC |
55 Whitefriargate |
Hull |
HU1 2HX |
EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
Approved by order of the board of trustees on |
THE EAST RIDING FOUNDATION LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 30 JUNE 2024 |
2024 | 2023 |
Unrestricted | Total |
funds | funds |
Notes | £ | £ |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 11,052 |
THE EAST RIDING FOUNDATION LIMITED (REGISTERED NUMBER: 03834562) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Total | Total |
funds | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 5 |
Unrestricted funds: |
General fund | - | 10,952 |
Share Capital | - | 100 |
11,052 |
TOTAL FUNDS | 11,052 |
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. |
THE EAST RIDING FOUNDATION LIMITED (REGISTERED NUMBER: 03834562) |
BALANCE SHEET - continued |
30 JUNE 2024 |
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 |
THE EAST RIDING FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 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. |
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. |
Donations |
Income from donations and grants, including capital grants, is included in incoming resources when these are receivable except as follows; |
- When donors specify that donations and grants given to the charity must be used in future accounting |
periods, the income is deferred until those periods. |
- When donors impose conditions which have to be fulfilled before the charity becomes entitled to use |
such income, the income is deferred and not included in incoming resources until the pre-conditions for |
use have been met. |
When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. |
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. |
THE EAST RIDING FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | 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. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
3. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Director/Trustees |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals |
5. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1/7/23 | in funds | 30/6/24 |
£ | £ | £ |
Unrestricted funds |
General fund | 10,952 | (10,952 | ) | - |
Share Capital | 100 | (100 | ) | - |
(11,052 | ) |
TOTAL FUNDS | (11,052 | ) | - |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (10,952 | ) | (10,952 | ) |
Share Capital | - | (100 | ) | (100 | ) |
( |
) | (11,052 | ) |
TOTAL FUNDS | ( |
) | (11,052 | ) |
THE EAST RIDING FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1/7/22 | in funds | 30/6/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 15,647 | (4,695 | ) | 10,952 |
Share Capital | 100 | - | 100 |
15,747 | (4,695 | ) | 11,052 |
TOTAL FUNDS | 15,747 | (4,695 | ) | 11,052 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (4,695 | ) | (4,695 | ) |
TOTAL FUNDS | - | (4,695 | ) | (4,695 | ) |
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 | 15,647 | (15,647 | ) | - |
Share Capital | 100 | (100 | ) | - |
15,747 | (15,747 | ) | - |
TOTAL FUNDS | 15,747 | (15,747 | ) | - |
THE EAST RIDING FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | MOVEMENT IN FUNDS - continued |
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 | - | (15,647 | ) | (15,647 | ) |
Share Capital | - | (100 | ) | (100 | ) |
- | (15,747 | ) | (15,747 | ) |
TOTAL FUNDS | - | (15,747 | ) | (15,747 | ) |
6. | RELATED PARTY DISCLOSURES |
Hotham Services Limited, a company in which trustee Miss J M Oldfield is director, provided administration services at normal commercial terms to the value of £3,600 in the previous year (2024 - nil). There were no outstanding amounts due to Hotham Services Limited at the year end. |
7. | POST BALANCE SHEET EVENTS |
The trustees are in the process of considering winding up the charity. |
8. | CALLED UP SHARE CAPITAL |
Ordinary shares of £1 each; |
2022 | 2021 |
Allotted, issued and fully paid | £100 | £100 |
Details of rights, preferences and restrictions attached to shares can be found on the confirmation statement filed at Companies House. |