| Gift a Smile |
| Notes to the Accounts |
| for the year ended 30 June 2024 |
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|
| 1 |
Accounting policies |
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| 1.1 |
Accounting Convention |
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The financial statements have been prepared in accordance with the charity's governing document, |
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the compnies Act 2006 and Accounting and Reporting by charities: Statement of Recommended |
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Practice applicable to charities preparing their accounts in accordance with the Financial |
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Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) |
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(effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. |
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The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 |
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Update Bulletin 1 not to Prepare a Statements of Cash Flows. |
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The financial statements are prepared in sterling, which is the functional currency of the charity. |
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Monetary amounts in these financial statements are rounded to the nearest £. |
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The financial statements have been prepared under the historical cost convention. The principal |
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accounting policies adopted are set out below. |
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| 1.2 |
Going Concern |
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At the time of apporving the financial statements, the trustees have a reasonable expectation |
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that the charity has adequate resources to continue in operational existence for the |
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foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting |
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in preparing the financial statements. |
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| 1.3 |
Charitable Funds |
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Unrestricted funds are available for use at the discretion of the trustees in furtherance of their |
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charitable objectives. |
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Restricted funds are subject to specific conditions by donors as to how they may be used. The |
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purposes and uses of the restricted funds are set out in the notes to the financial statements. |
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Further explanation of the nature and purpose of each fund is included in the notes to the |
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financial statements. |
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| 1.4 |
Income |
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Income is recognised when the charity is legally entitled to it after any perfomance conditions |
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have been met, the amounts can be measured reliably, and it is probable that income will be |
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received. |
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| 1.5 |
Expenditure |
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Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation |
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committing the charity to that expenditure, it is probable that a transfer of economic benefits |
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will be required in settlement and the amount of the obligation can be measured reliably. |
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Expenditure is accounted for on an accruals basis and has been classified under headings |
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that aggregate all cost related to the category. Where costs cannot be directly attributed to |
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particular headings they have been allocated to activities on a basis consistent with the use |
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of resources. |
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| 1.6 |
Cash and cash equivalents |
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Cash and cash equivalents include cash in hand, deposits held at call with banks, other |
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short-term liquid investments with original maturities of three months or less, and bank overdrafts. |
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Bank overdrafts are shown within borrowings in current liabilities. |
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| 1.7 |
Taxation |
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The charity is exempt from corporation tax on its charitable activities. |
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| 2 |
Charitable activities |
2024 |
|
2023 |
| £ |
£ |
|
|
Ticket Sales |
108,967 |
|
0 |
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| 3 |
Investments |
Unrestricted |
Unrestricted |
| Funds |
Funds |
|
|
|
|
|
2,024 |
|
2,023 |
| £ |
£ |
|
|
Interest Receivable |
1,102 |
|
303 |
|
|
| 4 |
Charitable and administrative expenses |
2024 |
|
2023 |
| £ |
£ |
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|
Charitable activities |
9,999 |
|
Accountancy |
720 |
|
450 |
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Other administrative expenses |
482 |
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|
|
11,201 |
|
450 |
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| 5 |
Trustees |
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None of the trustees (or any persons connected with them) received any remuneration or |
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benefits from the charity during the year. |
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| 6 |
Employees |
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The average monthly number of employees during the year was: |
2024 |
|
2023 |
| Number |
Number |
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Total |
0 |
|
0 |
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| 7 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
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Amounts falling due within one year: |
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Debtors |
50,000 |
|
70,000 |
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Prepayments and accrued income |
- |
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- |
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|
50,000 |
|
70,000 |
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| 8 |
Loans and Overdrafts |
2024 |
|
2023 |
| £ |
£ |
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Trustees' loans |
4,500 |
|
4,500 |
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Included in the accounts is a balance of £4,500 due back to the trustees, this is repayable on demand |
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and is interest free. |
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| 9 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trustees' loans |
4,500 |
|
4,500 |
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Accruals and deferred income |
1,122 |
|
402 |
|
|
|
|
5,622 |
|
4,902 |
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| 10 |
Related party transactions |
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There were no disclosable related party transactions during the year (2023-none). |