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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 May 2018 |
for |
Hoop Lane Trust |
REGISTERED COMPANY NUMBER:
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REGISTERED CHARITY NUMBER:
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Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 May 2018 |
for |
Hoop Lane Trust |
Hoop Lane Trust |
Contents of the Financial Statements |
for the Year Ended 31 May 2018 |
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Page |
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Report of the Trustees | 1 to 2 |
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Independent Examiner's Report | 3 |
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Statement of Financial Activities | 4 |
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Balance Sheet | 5 |
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Notes to the Financial Statements | 6 to 8 |
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Hoop Lane Trust |
Report of the Trustees |
for the Year Ended 31 May 2018 |
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 May 2018. 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 2015). |
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OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The charity's object and its principal activities continue to be those of the advancement of education, relief of poverty and the |
advancement of religion. |
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Public benefit |
The trustees confirm their compliance with the duty to have regard to the Public Benefit guidance published by the Charity |
Commission when reviewing the Charity's aims and objectives in planning future activities. |
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FINANCIAL REVIEW |
Reserves policy |
The charity does not maintain a reserve policy, as reserves are distributed when they become available, at the trustees' discretion. The |
presemt level of funding is adequate to support the continuation of its objects and the trustees consider the financial position of the |
charity to be satisfactory. |
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FUTURE PLANS |
There are no significant future developments to report. |
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STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, |
limited by guarantee, as defined by the Companies Act 2006. |
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Recruitment and appointment of new trustees |
It is not the intention of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply |
suitable recruitment, induction and training procedures. |
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Organisational structure |
The charity is organised so that the trustees meet regularly to manage its affairs. There are no paid employees and all administration |
work is done on a voluntary basis by the trustees. |
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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. |
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REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
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Registered Charity number |
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Registered office |
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Trustees |
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Company Secretary |
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Hoop Lane Trust |
Report of the Trustees |
for the Year Ended 31 May 2018 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Independent examiner |
Adrian Heller FCA |
Martin+Heller |
Chartered Accountants |
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London |
NW11 7RJ |
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Approved by order of the board of
trustees
on
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Independent Examiner's Report to the Trustees of |
Hoop Lane Trust |
Independent examiner's report to the trustees of Hoop Lane Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2018 . |
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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'). |
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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. |
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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: |
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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)]. |
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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 |
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Adrian Heller FCA |
Martin+Heller |
Chartered Accountants |
5 North End Road |
London |
NW11 7RJ |
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16 May 2019 |
Hoop Lane Trust |
Statement of Financial Activities |
for the Year Ended 31 May 2018 |
Period |
1/6/15 |
Year Ended | to |
31/5/18 | 31/5/17 |
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Unrestricted
fund |
Total
funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Investment income | 2 |
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Total |
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EXPENDITURE ON |
Other |
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NET INCOME/(EXPENDITURE) |
( |
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( |
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RECONCILIATION OF FUNDS |
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Total funds brought forward |
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TOTAL FUNDS CARRIED FORWARD |
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163,151 |
Hoop Lane Trust |
Balance Sheet |
At 31 May 2018 |
31.5.18 | 31.5.17 |
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Unrestricted
fund |
Total
funds |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
( |
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( |
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NET CURRENT ASSETS/(LIABILITIES) |
( |
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( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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FUNDS | 9 |
Unrestricted funds | 155,266 | 163,151 |
TOTAL FUNDS |
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163,151 |
The charitable company is entitled to exemption from audit under |
Section 477 of the Companies Act 2006 for the year ended 31 May 2018. |
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The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in |
accordance with Section 476 of the Companies Act 2006. |
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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. |
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These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 |
relating to charitable small companies. |
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The financial statements were approved by
the Board of
Trustees
on
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Hoop Lane Trust |
Notes to the Financial Statements |
for the Year Ended 31 May 2018 |
1. | ACCOUNTING POLICIES |
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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 2015)', 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. |
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Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable |
that the income will be received and the amount can be measured reliably. |
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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. |
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Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
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2. | INVESTMENT INCOME |
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Period |
1/6/15 |
Year Ended | to |
31/5/18 | 31/5/17 |
£ | £ |
Rents received |
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3. | TRUSTEES' REMUNERATION AND BENEFITS |
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There were no trustees' remuneration or other benefits for the year ended 31 May 2018 nor for the period ended |
31 May 2017 . |
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Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 May 2018 nor for the period ended 31 May 2017 . |
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4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
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Unrestricted
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Investment income |
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Total |
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EXPENDITURE ON |
Other |
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Total |
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Hoop Lane Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
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Unrestricted
fund |
£ |
NET INCOME/(EXPENDITURE) |
( |
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RECONCILIATION OF FUNDS |
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Total funds brought forward | 164,923 |
TOTAL FUNDS CARRIED FORWARD | 163,151 |
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5. | TANGIBLE FIXED ASSETS |
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Freehold
property |
Fixtures and
fittings |
Totals |
£ | £ | £ |
COST |
At 1 June 2017 and 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 31 May 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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31.5.18 | 31.5.17 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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31.5.18 | 31.5.17 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Loans | 1,427,200 | 1,427,200 |
Accrued expenses |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.5.18 | 31.5.17 |
£ | £ |
Amounts falling due within one year on demand: |
Bank overdraft |
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Hoop Lane Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
9. | MOVEMENT IN FUNDS |
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At 1/6/17 |
Net movement
in funds |
At 31/5/18 |
£ | £ | £ |
Unrestricted funds |
General fund | 163,151 | (7,885 | ) | 155,266 |
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TOTAL FUNDS |
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(7,885 | ) | 155,266 |
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Net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 50,000 | (57,885 | ) | (7,885 | ) |
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TOTAL FUNDS |
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( |
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Comparatives for movement in funds |
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At 1/6/15 |
Net movement
in funds |
At 31/5/17 |
£ | £ | £ |
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Unrestricted Funds |
General fund | 164,923 | (1,772 | ) | 163,151 |
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TOTAL FUNDS | 164,923 | (1,772 | ) | 163,151 |
Comparative net movement in funds, included in the above are as follows: |
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Incoming
resources |
Resources
expended |
Movement in
funds |
£ | £ | £ |
Unrestricted funds |
General fund | 50,000 | (51,772 | ) | (1,772 | ) |
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TOTAL FUNDS | 50,000 | (51,772 | ) | (1,772 | ) |
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10. | RELATED PARTY DISCLOSURES |
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There were no related party transactions for the year ended 31 May 2018. |
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