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← The World Children's Fund

2025-03-31-accounts

THE WORLD CHILDREN'S FUND

(A company limited by guarantee)

Financial Statements

For the year ended 31 March 2025

Company Number: 03778493 Charity Number: 1079124

THE WORLD CHILDREN'S FUND

CONTENTS

Page
Trustees' Report 2 to 7
Auditors' Report 8 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Accounts 15 to 22

THE WORLD CHILDREN'S FUND

Trustees' Report For the year ended 31st March 2025

Company Number: 03778493 (incorporated in England and Wales)
Charity Number: 1079124
Registered Office: 1 Elmfield Park
Bromley
Kent
BR1 1LU
Directors and Trustees: J. Lam
R. Kendrick
Y. Yakushev
N. Yakushev
Secretary: Broadway Secretaries Limited
Principal Bankers: HSBC Bank plc
Bromley Commercial Centre
184 High Street
Bromley, Kent
BR1 1HE
Auditors: Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Solicitors: BDB Pitmans LLP
50 Broadway
London
SW1H 0BL

Page: 1

THE WORLD CHILDREN'S FUND

Trustees' Report For the year ended 31st March 2025

The Trustees present their statutory report together with the accounts of The World 6MNQIWJSeX Fund #bE69c$ for the year ended 31st March 2025.

The information contained on page 1 of the Annual Report forms a part of the Trustees' Report.

Structure, Governance and Management

Governing document

The World 6MNQIWJSeX Fund was incorporated on the 27th May 1999 and is governed by the provisions of its memorandum and articles of association, as amended on 12th May 2017.

Organisational structure

The organisational structure is detailed in the constitution of the Charity. The strategic direction of the Charity is the responsibility of the board of Trustees. In accordance with the constitution the board meets at least once a year. The day-to-day running of the Charity is carried out by the Chief Executive, who is responsible to the board of trustees.

Connected & Related Parties

Two of the Trustees of the Charity (Joseph Lam and Ruth Kendrick) assisted in the establishment of other World Children's Fund and Medical Mission International charities throughout the world that share similar visions and purposes as The World 6MNQIWJSeX Fund and they are also on some of those other charities boards. However, the Charity does not consolidate these foreign entities in its financial statements, as they are separate legal entities with no one controlling party. Further details of transactions can be found in Note 14 to the financial statements.

WCF US is the programme department/organization for all the WCF charities that operate around the world. When a grantee requests assistance, WCF US will contact those affiliate organisations, who's aims coincide with the particular project in question, and are requested to fund such programmes. The programme coordinators within WCF US make site visits, along with the WCF EU Vice President, to the programmes supported, compiling reports and feeding information back to, for example, WCF UK. It is up to the board of WCF UK to determine on the basis of these reports whether to continue with on going funding.

Trustees, appointment, induction and training

New Trustees are appointed by existing Trustees should they be deemed appropriate and helping to fulfil any shortfall in the skill set of the board upon application. The charity shall hold an annual general meeting each year in addition to any other meetings. The Trustees have learned their duties as Trustees through information obtained from external consultants and the Charity Commission, and are responsible for the induction and training of new Trustees. Further training, consultation and information is made available to the Trustees on an on-going basis.

Page: 2

THE WORLD CHILDREN'S FUND

Trustees' Report For the year ended 31st March 2025

Risk Management

The Trustees have reviewed the major risks to which the charity is exposed and confirm that steps have been taken to mitigate those risks.

A fundamental risk to the charity is the potential for continued increases in expenditures on raising funds versus donation income received which would be the result of non-effective direct mailing mailshot results. To address this fundamental risk the charity is working with local marketing agencies to attempt to explore possible diversification of its current revenue stream as well as to look to achieve better returns on its mailshots. The goal is to drive down the cost of expenditure on raising funds while looking to boost and maximize donation revenues of its mailshots and other possible revenue streams which would mitigate this fundamental risk to the charity.

Remuneration Policy

The charity does employ one staff member whose pay is determined by the Board and is based on the hours worked and the prevailing market rates for the level of work that is being undertaken. Potential future increases in salary are decided and given to reflect increases in the cost of living.

As noted elsewhere in the accounts, the Trustees and officers of the charity receive no remuneration or compensation for their time and services to the charity.

If the charity does decide to compensate its Trustees and officers in future years, then the recommendations of the NCVO enquiry will be taken into account.

Public Benefit

EJ MF[J WJKJWWJI YT YMJ LZNIFSHJ NS YMJ 6MFWNY^ 6TRRNXXNTSeX LJSJWFQ LZNIFSHJ NS BJHYNTS *0 TK YMJ Charities Act 2011 on Public Benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Objectives and activities

The objects of WCF, in light of the Public Benefit guidance, continue to be:

To meet these objects, the charity has two primary aims and objectives, which have remained constant over the years of its operation:

Page: 3

THE WORLD CHILDREN'S FUND

Trustees' Report For the year ended 31st March 2025

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In order to fund these charitable programs, the charity continually employs these fundraising strategies.

Gift in Kind policy

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The Trustees believe that this activity furthers the charities objectives, in providing products appropriate to the needs of the recipients, to organisations/individuals that otherwise would not have access to these much needed items.

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Grant making policy

The trustees will continue to concentrate on the provision of emergency aid by making grants to support charitable projects providing emergency relief to assist children in disaster areas.

Applications for grants should be directed to:

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34 High Street Bromley, Kent BR1 1EA

Applications are dealt with on receipt. All applications for grants are reviewed by the trustees before any decision is made. The Trustees may also require a visit to the applicant before deciding whether or not to make a grant.

Page: 4

THE WORLD CHILDREN'S FUND

Trustees' Report

For the year ended 31st March 2025

Achievements and performance

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During year ended 31 March 2025, generous United Kingdom donors enabled WCF (UK) to expend £932,459 (2024: £905,132) on program grants and disaster relief supplies.

The programs supported during year end 31 March 2025 were:

programs supported during year end 31 March 2025 were:
Asian Center Foundation - Thailand
BESTWA, Inc - Liberia
International Church of the Foursquare Gospel - Bangladesh
Kama Outreach Ministries - Congo
Local Initiatives for Education - Yemen
Slavic International Ministries, Inc. - Ukraine
Transformation & Restoration Initiative - Uganda
World Children's Fund USA		 £
19,306
706,326
1,929
5,696
22,173
31,002
53,628
92,399
932,459

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Fundraising Approach

The charities trustees are fully aware of their individual responsibility and accountability to ensure that the charity fundraises legally, ethically, responsibly and effectively.

The charity is a levy paying member of the Fundraising Regulator and subscribe to the associated fundraising HTIJX FSI UWFHYNHJ' <S FIINYNTS YMJ HMFWNY^ NX FQXT WJLNXYJWJI \NYM YMJ <SKTWRFYNTS 6TRRNXXNTSJWeX ?KKNHJ FSI NX KZQQ^ compliant with the newly enacted General Data Protection Regulation (GDPR).

The charity suppresses individual supporter records against the Mailing Preference Service, Telephone Preference BJW[NHJ FSI YMJ 9ZSIWFNXNSL @WJKJWJSHJ BJW[NHJ \MNHM MJQUX YT JSXZWJ YMFY YMJ HMFWNY^ ITJXSeY FUUWTFHM NSIN[NIZFQX \MT MF[J J]UWJXXQ^ WJVZJXYJI YMFY \J ITSeY HTSYFHY YMJR% NSHQZINSL [ZQSJIWFGQJ UJTUQJ' 7ZWNSL YMJ fiscal year Fundraising Preference Service suppression requests totalled 11.

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The charity has a published complaint procedure, available on its website. Although no complaints have been received, the charity will respond to enquiries and complaints in a timely fashion. As a member of the Fundraising Regulator we are required to provide annual figures on the number of complaints received during the year (none in the current financial year). The enquiries received tend to be requests to opt-out of charity communications by existing supporters. These opt-out requests are administered and handled straight away to reduce any perception of unreasonable intrusion or undue pressure to support the charity.

Page: 5

THE WORLD CHILDREN'S FUND

Trustees' Report For the year ended 31st March 2025

The charity continues to diversify its income generating activities so as to reduce reliance on any single income stream. The main revenue stream for the charity is its direct mail fund raising programme coupled with gifts in kind. Regular giving programmes and legacy income are other diversified revenue streams for the charity.

Financial review

During the year, total income increased by £89,836, to £1,090,888 due to a increase in gifts in kind income. Resources expended increased by £29,976, to £1,169,747 due to a increase in gifts in kind expenditure.

The final result was a net decrease in funds of £78,859 (2024: decrease of £138,719), taking total reserves to £810,645 (2024: £889,504).

The objectives that were set out at 31 March 2024, to be achieved in 31 March 2025 year end, were partially met. Income increased and the charity did receive £49,636 during the year from legacies. As a result of these items the charity increased the amount spent on grants to programme as compared to 31 March 2024.

Reserves policy

The Board has examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The Trustees review its reserves policy annually and consider that the free reserves held by the charity should be broadly equivalent to two years of the yearly on-going annual expenditures (exclusive of GIK). The Trustees decided that WCF's long-term target level of free reserves, (those funds not designated or tied up in fixed assets), should be approximately £800,000 which would give the charity flexibility to cover temporary timing differences for donation receipts, adequate working capital for core costs, and would allow WCF to respond quickly to emergencies where immediate relief is needed.

At 31 March 2025, the free reserves of the charity amounted to £809,073 (2024:£885,307). The Board acknowledge that this falls in line with the target free reserve minimum.

Investment policy

The investment strategy is set by the Trustees. In the light of the Trustees policy on reserves the trustees have reviewed their investment policy and seek to both maximise return on the core deposits, whilst ensuring XZKKNHNJSY QNVZNINY^ YT JSFGQJ YMJ 6MFWNY^eX KZSIX YT GJ J]UJSIJI KTW HMFWNYFGQJ UZWUTXJ FX XTTS FX UTXXNGQJ'

Plans for future periods

The principal source of funding is expected to remain as voluntary income generated from direct mail appeals to the public. The charity plans to vigorously continue its focus on:

The Charity will continue its emergency aid shipments and financial grant programs.

Page: 6

THE WORLD CHILDREN'S FUND Trustees, Report For the year ended 31st March 2025 8tatomont of Trustees. responsibililies The Trustees (who are also directors of The World Children's Fund for the purposes of company law) are responsible for preparing the Trustees. Report and the financial statements in acu)rdance with applicable law and Financtal Reporting Standards (FRS 102). Company law requires Trustees to p￿pare financial Statements for each financial year which give a true and fair view of the state of the affairs of the tharitable company and of the incoming resour￿$ and application of resources, including the income and expendrture, of the charitable company for that period. In preparing these flnancial statsmonts, the trustees are required to: select suitsble accounting policies and then apply them consistenuy; observe the methods and principles in the ChaTitses SORP: make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards. induding FRS 102, have been followed. subject to any material departures disclosed and explained in tt)e financial ststements; stste whether a Statement of Recx)mmended Prath'ce (SORP) applies and has been followed. subject to any material departures vthich are explained in the financial statements: prepare the financial statements on the going ￿nCern basis unless it is inappropriate to presume that the charitsble company will o)nts'nue in business. The Trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy at any time the financial po$￿'0n of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: there is no relevant audit infomiation of vthich the charitable company's auditor is unaware,. and the Trustees have taken all steps that they ought to have tsken to make themselves aware of any relevant audit inform*ion and to establish that the auditor is aware of that infomiation. Audltors Moore Kingston Smith LLP have indicated their villingness to continue in office and are deemed to be reappointed in accordance with section 487(2) of the Companies Act 2006. Small Company Exomptlon These financial statsments have been prepared in accordance wtth the provisions of Part 15 of the Companies Act 2006 relating to srnall companies and with the Financial Reporting 102. Approved by the Trustees on . . and sKJned on their behalf by: Lam Twstee Page: 7

THE WORLD CHILDREN'S FUND

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WORLD CHILDREN'S FUND FOR THE YEAR ENDED 31 MARCH 2025

Opinion

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In our opinion the financial statements:

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`M!F[J GJJS UWJUFWJI NS FHHTWIFSHJ \NYM YMJ WJVZNWJRJSYX TK YMJ 6TRUFSNJX 4HY +))/'

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and FUUQNHFGQJ QF\' ?ZW WJXUTSXNGNQNYNJX ZSIJW YMTXJ XYFSIFWIX FWJ KZWYMJW IJXHWNGJI NS YMJ 4ZINYTWeX Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial XYFYJRJSYX NS YMJ D=% NSHQZINSL YMJ 9A6eX 8YMNHFQ BYFSIFWI% FSI \J MF[J KZQKNQQJI TZW TYMJW JYMNHFQ responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial XYFYJRJSYX FSI TZW FZINYTWeX WJUTWY YMJWJTS' CMJ YWZXYJJX FWJ WJXUTSXNGQJ KTW YMJ TYMJW NSKTWRFYNTS contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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THE WORLD CHILDREN'S FUND

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WORLD CHILDREN'S FUND FOR THE YEAR ENDED 31 MARCH 2025

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

`Y!MJ NSKTWRFYNTS LN[JS NS YMJ YWZXYJJXe FSSZFQ WJUTWY KTW YMJ KNSFSHNFQ ^JFW KTW \MNHM YMJ KNSFSHNFQ XYFYJRJSYX are prepared is consistent with the financial statements; and

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Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in YMJ HTZWXJ TK YMJ FZINY% \J MF[J STY NIJSYNKNJI RFYJWNFQ RNXXYFYJRJSYX NS YMJ YWZXYJJXe FSSZFQ WJUTWY'

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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Responsibilities of trustees

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Auditor’s Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are KWJJ KWTR RFYJWNFQ RNXXYFYJRJSY% \MJYMJW IZJ YT KWFZI TW JWWTW% FSI YT NXXZJ FS FZINYTWeX WJUTWY YMFY NSHQZIJX our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

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THE WORLD CHILDREN'S FUND

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WORLD CHILDREN'S FUND FOR THE YEAR ENDED 31 MARCH 2025

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`8![FQZFYJ YMJ T[JWFQQ UWJXJSYFYNTS% XYWZHYZWJ FSI HTSYJSY TK YMJ KNSFSHNFQ XYFYJRJSYX% NSHQZINSL YMJ disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

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Page: 10

THE WORLD CHILDREN'S FUND

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE WORLD CHILDREN'S FUND FOR THE YEAR ENDED 31 MARCH 2025

`E! J FXXJXXJI YMJ WNXP TK RFYJWNFQ RNXXYFYJRJSY TK YMJ KNSFSHNFQ XYFYJRJSYX% NSHQZINSL YMJ WNXP TK RFYJWNFQ misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

`E! J NSVZNWJI TK RFSFLJRJSY FSI YMTXJ HMFWLJI \NYM LT[JWSFSHJ FX YT FS^ PST\S NSXYFSHJX TK STS& compliance or suspected non-compliance with laws and regulations.

`5!FXJI TS YMNX ZSIJWXYFSINSL% \J IJXNLSJI XUJHNKNH FUUWTUWNFYJ FZINY UWTHJIZWJX YT NIJSYNK^ NSXYFSHJX TK non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the HTRUFS^eX RJRGJWX YMTXJ RFYYJWX \J FWJ WJVZNWJI YT XYFYJ YT YMJR NS FS FZINYTWeX WJUTWY FSI KTW ST TYMJW purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

10 September 2025

Page: 11

THE WORLD CHILDREN'S FUND

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025

Note
Income
Donations and legacies
Donations and appeals
Legacies and bequests
Gifts in kind
Investment income
Bank interest
Total Income
Expenditure on:
Raising funds
3
Charitable activities
4
Total Expenditure
Net movement on funds
Total Funds Brought Forward
Total Funds Carried Forward
11		 2025
2024
£
£
336,331
355,075
49,636
17,456
690,609
613,697
14,312
14,824
1,090,888
1,001,052
106,854
103,904
1,062,893
1,035,867
1,169,747
1,139,771
(78,859)
(138,719)
889,504
1,028,223
810,645
889,504
Unrestricted Funds		 2025
2024
£
£
336,331
355,075
49,636
17,456
690,609
613,697
14,312
14,824
1,090,888
1,001,052
106,854
103,904
1,062,893
1,035,867
1,169,747
1,139,771
(78,859)
(138,719)
889,504
1,028,223
810,645
889,504
Unrestricted Funds
1,001,052
103,904
1,035,867
1,139,771
(138,719)
1,028,223
889,504

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure is unrestricted.

All income and expenditure derives from continuing activities.

The notes on the accompanying pages form an integral part of these accounts.

Page: 12

THE WORLD CHILDREN'S FUND Balance Sheet AS AT 31 MARCH 2025 Note 2025 2025 2024 2024 Flxed Assets Tangible f￿ed assets 1.572 4.197 Curront A8•ot8 Debtors Cash at bank and in hand 19.093 813,891 18.753 884,598 903,351 Credltorn: Amounts falllng due wlthln one year 10 (23,911) (18,044 Net Curront Assets 809,073 810.645 885,307 889,504 Totsl Net Assets Funds Unrestricted funds 11 810,645 889.504 These flnanclal ststements have ￿en propared in a(￿Ordani￿ the provisions appllcabFe lo companies subject lo the small companies regime within Part 15 of the Cornpanies Act 2006. The notes on the ac￿mpanying pages fomi an integrdl part of these accounts. Approved by the Board of Trustees. autrK)rised for distribution. on ................... and signed on their behaff by: oseph Lam Company Registration No. 03778493 Page= 13

THE WORLD CHILDREN'S FUND

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net (Expenditure)/ Income
Adjustments for:
Depreciation
(Increase)/ Decrease in debtors
Increase/ (Decrease) in creditors
Net cash generated by/used in operating activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(78,859)
2,625
(340)
5,867
(70,707)
(70,707)
884,598
813,891		 2024
£
(138,719)
3,741
(2,843)
(2,619)
(140,440)
(140,440)
1,025,038
884,598

Analysis of changes in net debt

Analysis of changes in net debt
Cash at bank and in hand
Total cash and cash equivalents		 Foreign
exchange
movements
At 31 March
2025
£
£
£
884,598
(552)
813,891
Cashflows
At 1 April 2024
£
(70,155)
884,598
(552)
813,891
(70,155)

Page: 14

THE WORLD CHILDREN'S FUND NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

1 Accounting Policies

A summary of the principal accounting policies adopted, judgements and key sources of estimation uncertainty, is set out below.

Basis of Preparation of the Financial Statements

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charitable company is a public benefit entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the charity, rounded to the nearest pound.

Going concern

The trustees have assessed whether the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the FUUWT[FQ TK YMJXJ KNSFSHNFQ XYFYJRJSYX' <S UFWYNHZQFW% YMJ YWZXYJJX MF[J HTSXNIJWJI YMJ HMFWNYFGQJ HTRUFS^eX forecasts and projections and have taken account of pressures on donations. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable company will have adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements.

Income

Voluntary income is recognised when the charity has entitlement to the the income, it is probable it will be received and the amount can be reliably measured. Income received in cash by way of donations are included in full in the Statement of Financial Activities as soon as they are received. Bank interest receivable is also included on a receipts basis.

Legacies are recognised in the statement of financial activities when there is reasonable probability and reliability of receipt, their value can be accurately measured and the charity is entitled to the income.

Gifts in Kind

Income in the form of gifts in kind are included in the Statement of Financial Activities only when assets donated to the charity are distributed. Gifts in kind are donations of commodities directly usable in charitable programmes such as food, clothing and medical supplies. The charity has a monitoring programme in place to ensure that commodities are appropriately valued at wholesale or less, culturally appropriate for the designated programme, and can be both properly shipped and distributed free of charge to the intended beneficiaries.

Gift Aid Repayments

Income from gift aid repayment claims is only included for claims which have been submitted for tax periods ending on or before the year end and when the receipt of this income is more probable than not.

Page: 15

THE WORLD CHILDREN'S FUND NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

Expenditure

Expenditure, which is charged on an accruals basis, is allocated between:

Charitable activities comprises all the expenditure incurred by the charity in meeting its charitable objectives and is further analysed between:

Where items of expenditure involve more than one cost category these costs have been apportioned on a reasonable basis as determined by the trustees. One particular area where the cost is material to the charity is in the production and distribution of direct mailings.

Expenditure has been allocated on the basis of whether the educational content of the individual mailing is significantly high enough so as to be material. When this holds true, the cost of the mailing is allocated on a pro-rata basis comparing the educational content (costs in furtherance of the charity's objects) to the fund raising content (raising funds). The educational content is determined by the amount of text and space on each mailing that is dedicated to material of an educational nature.

Fund raising expenditure i.e. text that may induce a donation from the recipient, is allocated upon the basis of the volume of the text and space that is not related to text of an educational nature.

Support costs comprise all other overhead costs for the running of the charity as an organisation and the costs primarily associated with the constitutional and statutory requirements.

Foreign Currencies

Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction, the average rate being used as an approximation to this rate. Monetary assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. All exchange differences are dealt with through the statement of financial activities.

Depreciation of Tangible Assets

All assets costing more than £400 are capitalised.

Tangible fixed assets are stated at cost, less depreciation.

Depreciation is provided at rates calculated to write off each asset over its estimated remaining life on a straight line basis at the following annual rates:

Computer equipment over 3 years
Office equipment and furniture over 4 years
Leasehold improvements over 10 years

Page: 16

THE WORLD CHILDREN'S FUND

NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

Fund Accounting

All the funds held by the Charity are unrestricted funds, being funds which can be used in accordance with the charitable objects at the discretion of the Trustees.

Critical accounting estimates and areas of judgement

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Other financial instruments

i. Cash and cash equivalents

Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.

ii. Debtors and creditors

Debtors and creditors receivable or payable within one year of the reporting date are carried at their at transaction price.

Page: 17

THE WORLD CHILDREN'S FUND

NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

2
Net movement in funds
Movement in funds stated after charging:
Foreign exchange loss
Depreciation
Operating lease rentals
Auditors' remuneration (note 5)
3
Raising Funds
Postage
Printing and mailshop
Database maintenance
Production fees
Allocated support costs (note 5)
4
Charitable Activities
Grants Programme
Gifts in kind
Grants paid to institutions
Please refer to the Trustees' Report for details of significant grants paid.
Costs of activities in furtherance of the charity's objectives
Education and development
Support costs of education and development (note 5)
Total Charitable activities		 2025
£
552
2,625
24,320
21,414
2025
£
12,769
39,281
36,037
15
18,752
106,854
2025
£
690,609
241,850
932,459
2025
£
57,994
72,440
130,434
1,062,893		 2024
£
383
3,741
24,227
21,594
2024
£
11,146
40,307
37,505
3,624
11,322
103,904
2024
£
613,697
291,435
905,132
2024
£
56,748
73,987
130,735
1,035,867

Page: 18

THE WORLD CHILDREN'S FUND

NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

5 Support costs

Support costs
Salaries (See note 7)
Depreciation
Occupancy costs
Sundry
Governance costs:
Legal and professional fees
Auditors remuneration: in respect
of audit services
Auditors remuneration: in respect
of non-audit services
Support costs
Salaries (See note 7)
Depreciation
Occupancy costs
Sundry
Governance costs:
Legal and professional fees
Auditors remuneration: in respect of
audit services
Auditors remuneration: in respect of
non audit services		 £
1,377
263
4,030
2,010
11,072
-
-
18,752
£
1,933
374
3,514
2,133
3,368
-
-
11,322
Fundraising
Fundraising		 £
12,395
2,362
36,269
-
-
21,414
-
72,440
£
17,400
3,367
31,626
-
-
20,394
1,200
73,987
Education and
Development
Education and
Development		 2025
£
13,772
2,625
40,299
2,010
11,072
21,414
-
91,192
2024
£
19,333
3,741
35,140
2,133
3,368
20,394
1,200
85,309

Page: 19

THE WORLD CHILDREN'S FUND

NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

7 Staff Costs

Staff Costs
Wages and salaries
Social Security costs		 2025
£
13,772
-
13,772		 2024
£
19,333
-
19,333

The key management personnel are the Trustees.

The total remuneration paid to key management personnel was £nil (2024: £nil).

The average number of employees during the year was 1 (2024: 1). No employee earned £60,000 per annum or greater in the year (2024: none).

No trustee received remuneration in the year (2024: none), nor were any trustees reimbursed for travel expenditure (2024: none).

8
Tangible Fixed Assets
Cost
As at 1st April 2024
Additions
As at 31st March 2025
Depreciation
As at 1st April 2024
Charge for the year
As at 31st March 2025
Net Book Value
As at 31st March 2025
As at 31st March 2024
9
Debtors
Other debtors
Prepayments and accrued income		 Leasehold
Improvements
£
21,402
-
21,402
18,370
2,140
20,510
892
3,032		 Computer
Equipment
£
20,438
-
20,438
19,273
485
19,758
680
1,165		 Office
Equipment
and Furniture
£
2,567
-
2,567
2,567
-
2,567
-
-
2025
£
7,731
11,362
19,093		 Total
£
44,407
-
44,407
40,210
2,625
42,835
1,572
4,197
2024
£
7,374
11,379
18,753

Other debtors are financial instruments measured at present value.

Page: 20

THE WORLD CHILDREN'S FUND NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

10 Creditors: Amounts falling due within one year
Trade creditors
Accruals		 2025
£
6,248
17,663
23,911		 2024
£
9,181
8,863
18,044

All creditors except for other taxes and social security are financial instruments measured at present value.

11 Unrestricted Funds
General reserve		 Balance at
1 April 2024
£
889,504		 Net
decrease
for the
period
£
(78,859)		 Balance at
31 March
2025
£
810,645

12 Operating Leases

At 31 March 2025 the charity had annual commitments under non-cancellable leases as follows:

Expiry date:
Within 1 year
Between 2 and 5 years		 2025
2024
£
£
6,645
15,948
-
6,645
6,645
22,593
Land and Buildings		 2025
2024
£
£
6,645
15,948
-
6,645
6,645
22,593
Land and Buildings
22,593

13 Legal Status of the Charity

The charity is a company limited by guarantee and, at 31st March 2025, had 4 members (2024: 4 members). In the event of winding up, the liability of each member to contribute to the assets of the charity is limited to £10.

Page: 21

THE WORLD CHILDREN'S FUND NOTES TO THE ACCOUNTS FOR THE YEAR 31 MARCH 2025

14 Connected Party Transactions

Two Trustees of the Charity (Joseph Lam and Ruth Kendrick) assisted in the establishment of other World Children's Fund and Medical Mission International charities throughout the world that share XNRNQFW [NXNTSX FSI UZWUTXJX FX CMJ ETWQI 6MNQIWJSeX 9ZSI FSI YMJ^ FWJ FQXT TS XTRJ TK YMTXJ TYMJW charities boards. However, the Charity does not consolidate these foreign entities in its financial statements, as they are separate legal entities with no one controlling party. Neither were there any financial dealings with these entities during the year, apart from those transactions, and year end balances already disclosed below in accordance with FRS 102.

The only transaction during the year that occurred between the overseas entities mentioned above and World Children's Fund was a grant of £92,399 paid to World Children's Fund (USA) (2024:£91,393). No amounts in relation to these entities remained outstanding at the year end (2024: none).

As stated previously in Note 7 of the Financial Statements, no World Children's Fund UK Trustee receives any salary or compensation from the Charity.

Joseph Lam and Ruth Kendrick are also Trustees of Medical Mission International UK and receive no compensation for those services.

15 Company information

World Children's Fund is a private company limited by guarantee incorporated in England and Wales.

Page: 22