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COMPANY REGISTRATION NUMBER: 08277339
The Travers Foundation
Company Limited by Guarantee
Unaudited Financial Statements
30 November 2017
The Travers Foundation
Company Limited by Guarantee
Financial Statements
Year ended 30 November 2017
Contents
Page
Officers and professional advisers
1
Directors' report
2
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
4
Income statement
5
Statement of financial position
6
Notes to the financial statements
7
The Travers Foundation
Company Limited by Guarantee
Officers and Professional Advisers
The board of directors
Mr T Forsey
Mr M McEvoy
Mr W Sharman
Mr G Tait
Mrs J Ward (Resigned 24 May 2018)
Mr B Donald (Appointed 24 July 2017)
Mr A Hartley (Appointed 24 July 2017)
Registered office
Barn House
High Street
Gretton
NN17 3DF
Accountants
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
Bankers
Barclays Bank PLC
The Travers Foundation
Company Limited by Guarantee
Directors' Report
Year ended 30 November 2017
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2017 .
Directors
The directors who served the company during the year were as follows:
Mr T Forsey
Mr M McEvoy
Mr W Sharman
Mr G Tait
Mrs J Ward
Mr B Donald
(Appointed 24 July 2017)
Mr A Hartley
(Appointed 24 July 2017)
Mrs J Ward resigned as director on 24 May 2018 .
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 8 August 2018 and signed on behalf of the board by:
Mr T Forsey
Director
Registered office:
Barn House
High Street
Gretton
NN17 3DF
The Travers Foundation
Company Limited by Guarantee
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of The Travers Foundation
Year ended 30 November 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Travers Foundation for the year ended 30 November 2017, which comprise the income statement, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of The Travers Foundation, as a body, in accordance with the terms of our engagement letter dated 1 November 2012. Our work has been undertaken solely to prepare for your approval the financial statements of The Travers Foundation and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Travers Foundation and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that The Travers Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Travers Foundation. You consider that The Travers Foundation is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of The Travers Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A Plus Accountants Limited Accountants
10 Canberra House Corbygate Business Park Corby Northants NN17 5JG
8 August 2018
The Travers Foundation
Company Limited by Guarantee
Income Statement
Year ended 30 November 2017
2017
2016
Note
£
£
Total income received
25,378
32,387
Cost of funding
24,195
22,180
---------
---------
Gross profit
1,183
10,207
-------
---------
Operating profit
1,183
10,207
Other interest receivable and similar income
70
42
-------
---------
Profit before taxation
1,253
10,249
Tax on surplus from ordinary activities
-------
---------
Profit for the financial year
1,253
10,249
-------
---------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the year as set out above.
The Travers Foundation
Company Limited by Guarantee
Statement of Financial Position
30 November 2017
2017
2016
Note
£
£
£
Current assets
Cash at bank and in hand
25,563
24,310
---------
---------
Net current assets
25,563
24,310
---------
---------
Total assets less current liabilities
25,563
24,310
---------
---------
Capital and reserves
Profit and loss account
25,563
24,310
---------
---------
Members funds
25,563
24,310
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 August 2018 , and are signed on behalf of the board by:
Mr T Forsey
Director
Company registration number: 08277339
The Travers Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 November 2017
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Barn House, High Street, Gretton, NN17 3DF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 5.
Revenue recognition
The income represents donations received and the gross proceeds from fund raising, all generated to support the charitible aims of the company.
4. Company limited by guarantee
The liability of its members is limited to a sum not exceeding £10, being the amount that each member undertakes to contribute to the assets of the charity in the event of it being wound up while he, she or it is a member or within a year after he, she or it ceases to be a member, for:
1) Payment of the charity's debts and liabilities incurred before he, she or it ceases to be a member
2) Payment of the costs, charges and expenses of winding up, and
3) Adjustment of the rights of the contributories among themselves.
5. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.
No transitional adjustments were required in equity or profit or loss for the year.