Charity registration number 1084208
AMHURST PARK KIDS NETWORK
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
AMHURST PARK KIDS NETWORK
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr A Grunhut Mrs B Grunhut Charity number 1084208 Principal address Building B, OCC Estate 105 Eade Road London N4 1TJ Independent examiner Mr J Silver FCCA Precision Ltd 32 Castlewood Road N16 6DW
AMHURST PARK KIDS NETWORK
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 11 |
AMHURST PARK KIDS NETWORK
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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 2019).
Objectives and activities
The charity's objects are the advancement of Orthodox Jewish education and the Orthodox Jewish faith for children and young people. The charity provides facilities and programmes for children and young people for their recreation and other leisure-time occupation so as to develop their skills, to enhance their employment prospects and to assist them in growing to full maturity as individuals and as members of society and to improve their conditions of life in general.
In order to achieve these objectives the charity also provides grants to educational institutions, charities, individuals in need and other organisations working to acheive the above objectives.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The charity received £240,500 in donations and investment income during the year and £303,356 was paid out by way of grants, support costs and fund raising costs.
The charity also acquired an investment property to provide a continuous source of funds for the charity. Grants over £5,000 made during the year to institutions are as detailed in the accounts. These grants were made in line with the stated objects of the charity.
Financial review
The financial position of the charity is satisfactory. The charity's statement of financial activities shows total unrestricted funds of £59,166.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level which will not impinge on its ability to carry out its charitable activities and support charitable institutions.
Structure, governance and management
The charity is a governed by its constitution adopted on the 3rd April 2000 and as amended on the 6 December 2000.
It was registered as a charity on 20 December 2000.
The trustees who served during the year and up to the date of signature of the financial statements were: Mr A Grunhut
Mrs B Grunhut
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any trustees. Should the situation change in the future, the trustees will apply suitable induction and training procedures. The trustees administer the day to day running of the charity. None of the trustees' has any beneficial interest in the charity.
The trustees' report was approved by the Board of Trustees.
..............................
Mr A Grunhut Trustee Date: ............................................. Oct 30, 2025
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AMHURST PARK KIDS NETWORK
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF AMHURST PARK KIDS NETWORK
I report to the trustees on my examination of the financial statements of Amhurst Park Kids Network (the charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 financial statements to be reached.
Mr J Silver FCCA Precision Ltd 32 Castlewood Road N16 6DW
Dated: ......................... Oct 30, 2025
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AMHURST PARK KIDS NETWORK
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 203,000 | 105,500 |
| Investments | 4 | 37,500 | - |
| Total income | 240,500 | 105,500 | |
| Expenditure on: | |||
| Raising funds | 5 | 98,664 | - |
| Charitable activities | 6 | 204,692 | 100,200 |
| Total expenditure | 303,356 | 100,200 | |
| Net gains/(losses) on investments | 11 | 116,722 | - |
| Net income for the year/ | |||
| Net movement in funds | 53,866 | 5,300 | |
| Fund balances at 1 January 2024 | 5,300 | - | |
| Fund balances at 31 December 2024 | 59,166 | 5,300 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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AMHURST PARK KIDS NETWORK
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Investment property | 13 | 1,640,000 | - | ||
| Current assets | |||||
| Debtors | 14 | 78,390 | - | ||
| Cash at bank and in hand | 15,801 | 5,900 | |||
| 94,191 | 5,900 | ||||
| Creditors: amounts falling due within | |||||
| one year | 16 | (147,300) | (600) | ||
| Net current (liabilities)/assets | (53,109) | 5,300 | |||
| Total assets less current liabilities | 1,586,891 | 5,300 | |||
| Creditors: amounts falling due after | |||||
| more than one year | 17 | (1,527,725) | - | ||
| Net assets | 59,166 | 5,300 | |||
| Income funds | |||||
| Unrestricted funds | 59,166 | 5,300 | |||
| 59,166 | 5,300 |
The financial statements were approved by the Trustees on .........................
.............................. Mr A Grunhut Trustee
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
Amhurst Park Kids Network is a charity governed by its constitution.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future not withstanding the net current liability position, due to the ongoing support of the trustees and local community. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.7 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows.
Property valuation
The valuation of the charity's investment property is inherently subjective, depending on many factors including the nature of the property, its location and expected future net rental values. Therefore the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
3 Donations and legacies
| **Unrestricted ** | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 203,000 | 105,500 |
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
| 4 5 6 |
Investments Unrestricted Total funds 2024 2023 £ £ Rental income 37,500 - Raising funds Unrestricted Total funds 2024 2023 £ £ Investment management 98,664 - 98,664 - Charitable activities Charitable Expenditure Charitable Expenditure 2024 2023 £ £ Grant funding of activities (see note 7) 200,665 99,600 Share of governance costs (see note 8) 4,027 600 204,692 100,200 |
|---|---|
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
7 Grants payable
| Charitable | |
|---|---|
| Expenditure | |
| 2024 | |
| £ | |
| Grants to institutions: | |
| Beis Aharaon TT Activity Centre | 20,000 |
| Ezer Viznitz Foundation | 30,000 |
| The Rehabilitation Trust | 10,000 |
| Meirim Illuminating Ltd | 20,000 |
| Yad Toiva (The Kind Hand Trust) | 20,000 |
| Yad Vochessed Association Limited | 20,000 |
| Edupoor Ltd | 10,000 |
| Lechem Shlomo | 10,000 |
| Reb Shayale's Tzeduke | 10,000 |
| Support The Charity Worker | 10,000 |
| Children Ahead | 6,000 |
| Other | 30,975 |
| 196,975 | |
| Grants to individuals | 3,690 |
| 200,665 |
8 Support costs
| Support costs | |||
|---|---|---|---|
| Accountancy Legal and professional Analysed between Charitable activities |
Support costs Governance costs £ £ - 1,800 - 2,227 - 4,027 - 4,027 |
2024 £ 1,800 2,227 4,027 4,027 |
2023 £ 600 - |
| 600 | |||
| 600 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
10 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
11 Net gains/(losses) on investments
| Unrestricted | Total | |
|---|---|---|
| funds | ||
| 2024 | 2023 | |
| £ | £ | |
| Revaluation of investment properties | 116,722 | - |
12 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
13 Investment property
| Fair value At 1 January 2024 Additions through external acquisition Net gains or losses through fair value adjustments At 31 December 2024 |
2024 £ - 1,523,278 116,722 |
|---|---|
| 1,640,000 |
The fair value of the investment property has been arrived at on the basis of a valuation carried out at September 2024 by Quadrin Valuations a RICS Certified Valuer, who are not connected with the charity. The trustees are of the opinion that there was no significant change in value from that date till the year end. The original cost of the property was £1,523,278.
14 Debtors
| Debtors | ||
|---|---|---|
| 2024 | 2023 | |
| Amounts falling due within one year: | £ | £ |
| Prepayments and accrued income | 78,390 | - |
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AMHURST PARK KIDS NETWORK
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
15 Loans and overdrafts
| Loans and overdrafts | ||
|---|---|---|
| Bank loans Payable after one year |
2024 £ 1,527,725 1,527,725 |
2023 £ - |
| - |
The long-term loans are secured by fixed charges over the charity's investment property.
16 Creditors: amounts falling due within one year
| Other creditors Accruals and deferred income |
2024 £ 145,500 1,800 147,300 |
2023 £ - 600 |
|---|---|---|
| 600 |
Other creditors is an amount due to the trustees, the loan is interest free.
17 Creditors: amounts falling due after more than one year
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Bank loans | 15 | 1,527,725 | - |
18 Related party transactions
During the year the charity received £200,000 from the estate of a close relative of one of the trustees. There were no other disclosable related party transactions during the year other than the above and as mentioned in note 16 (2023 - the charity made a grant of £20,000 to a charity where some of the trustees are close family members of a trustee of this charity).
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