upReach Annual Report 2023-24 - Report - Page 51
Notes To The Financial Statements
For The Year To 31 July 2024
1.5 Income Recognition
All incoming resources are included on the Statement of Financial Activities when the charity
is legally entitled to the income and the amount can be quanti昀椀ed with reasonable accuracy.
The following speci昀椀c policies are applied to particular categories of income:
Donations are recognised on a receipts basis.
Grant income is recognised when the formal offer of funding is communicated in writing to
the charity and spread over grant period on a straight-line basis. The grants received are
collaborations between the charity and the partners and as such the charity does not have
overall control for meeting the terms and conditions of the grant. The trustees have departed
from the relevant provision of the Charities SORP to the extent necessary to show a
‘true and fair’ view by not recognising the grant income on receipt of the formal offer of funding.
Donated services and facilities are recognised once the services have been performed.
1.6 Resources Expended
Expenditure is accounted for on an accruals basis and has been classi昀椀ed 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.
Expenditure relating to those restricted funds linked to supporting a cohort of students has been
calculated on the basis of the expected costs of supporting 80 students, this being pro-rated on
an individual partner basis with reference to the number of students involved.
1.7 Charitable Activities
Charitable activities comprise those costs incurred by the charity in the delivery of its activities
and service for its bene昀椀ciaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
1.8 Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life.
Fixtures and 昀椀ttings – 20%-33% on cost
Computer equipment – 25%-33% on cost
1.9 Taxation
The charity is exempt from corporation tax on its charitable activities.
1.10 Donated Goods, Facilities and Service
Donated goods, facilities and services, including volunteers, are included at the value to the
charity where this can be quanti昀椀ed.
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