|||||The King's Foundation||| |---|---|---|---|---|---|---| |||||Contents||| |Reference and Administrative|||Details|||| |Strategic Report||||||| |Trustees'
Report|||||3to5|| |Statement
of|Trustees'|Responsibilities||||| |Independent|Auditors'|Report|||7to 10|| |Consolidated|Statement of Financial|||Activities||| |Consolidated|Balance|Sheet||||| |Balance Sheet||||||13| |Consolidated|Statement
ofCash Flows|||||14| |Notes to the|Financial|Statements|||15|to 30| ## |Mr R Holmes|Mr R Holmes|—Chief Executive Officer (resigned 31 May|—Chief Executive Officer (resigned 31 May|—Chief Executive Officer (resigned 31 May|—Chief Executive Officer (resigned 31 May|—Chief Executive Officer (resigned 31 May|2023)|2023)||| |---|---|---|---|---|---|---|---|---|---|---| |Mr Andrew||Busby —Interim|||Chief Executive Officer (appointed|||31 May 2023)||| |Mrs Lynda|Rands —Interim Chief Finance Officer (appointed|||||||31 May|2023)|| |Trustees||||||||||| |Mr D Taylor,||Chair||||||||| |Mr G Thompson||||||||||| |Mrs 3 Fardon||||||||||| |Mrs R Brown||||||||||| |Mrs C Buxton||||||||||| |Secretary||||||Mrs L Rands||||| |Principal and registered||||office||Osborne House||||| |||||||47 Snaithing|Lane|||| |||||||Sheffield||||| |||||||5103LF||||| |The charity|is incorporated||||in England and Wales.|||||| |Company|Registration|||Number||5099069||||| |Charity Registration|||Number|||1105460||||| |Scofflsh Charffy Number||||||SC043119||||| |Solicitors||||||Knights pic||||| |||||||Commercial|House|||| |||||||14Commercial||Street||| |||||||Sheffield||||| |||||||Sl 2AT||||| |Bankers||||||Lloyds Bank|pic|||| |||||||Church Street||||| |||||||Sheffield||||| |||||||SI
IHP||||| |Auditors||||||Landin Wilcock||6,Co||| |||||||Chartered
Accountants|||3,Registered|Auditors| |||||||68Queen Street||||| |||||||Sheffield||||| |||||||Sl
IWR||||| ## |The trustees, who are directors for the purposes|The trustees, who are directors for the purposes|of company|law. present their strategic report for the year ended 31|law. present their strategic report for the year ended 31| |---|---|---|---|---| |December 2022, in compliance|with s414C of the Companies||Act 2006.|| |Achlevemenb
and performance||||| |Key non-linonciol
perfwmance|indicators|||| |The charilable
group uses the following as measures ofsuccess:||||| |-Child activity hours||||| |-Health and safety data||||| |-Independent
parent reviews||||| |-Leaders trained||||| |-Membership
data||||| |-Staff and volunteer performance
evaluations||||| |-Values and beliefs||||| |Going concern||||| |The trustees consider that there|are no materiiai|uncertainties|about the Charities'|ability to continue asa gaing concern.| |Financial review|||| |---|---|---|---| |Ihe charity had a very successful financial year|after the previous year's Cavid-affected
losses, with a net prafit of||| |0170.121,and reserves ofB!57,255. Refer to the|Activity Report
in the Trustees' Report.||| |Investments|||| |Trust monies requiring
investment
may be invested
in the purchase afsuch stocks. funds, shares, securities orother|||| |investments
at the Trustees discretion.|||| |Plans for the future|||| |As part of our annual review and planning
process, we' ve agreed an overall 2023goal of staying
true to aur vision
mission as we grow by 10%. Within this goal we've agreed
six specific abjectives:|||and| |1.
Ensure Kings Camps thrives|||| |2.
Satisfy RoyalNavy
contract and other third-party
contracts|||| |Make franchising
a realty|||| |4.
Create future international
development
model|||| |5.
Strengthen
team|||| |6.
Financial growth|||| |More specriicariy,
these objectives mean:|||| |- Increasing the number of children
benefitting|from affendance
on our camps by restoring|capacifies back to|pre-| |Covid levels and increasing the number ofweeks and venues|||| |Delivering
contracts and grants including
our|partnership
with the RNRMC, and our commitment
to more Young||Carers| |attending
camps on subsidised places-we
will|ensure the desired impacts
will be delivered|far beneficiaries
and|that our| |funding
partners are happy
with the progress ofour delivery|||| |-
Providing
more subsidised
places via our Supporting
Families Programme,
to make a difference to the lives of children|||| |from a range of difficult ordisadvantaged
family circumstances,
including
financial
hardship,||terminal
illness, bereavement|| |and other challenging
family situations. We will|ensure that the process far awarding
these places is robust and equitable||| |Continuing
ta explore partnerships
with local|organisations
to deliver Holiday and Food pragrammes
to disadvantaged||| |children|||| |- Recommencing
our commitment
to children|in developing
nations
in order to progress our|visian ota world where|| |children
love being active. We will recannect
with trusted internalional
partners
who we have worked
with previously|||| |Strengthening
our staff team after significant|reductions
in numbers
during
Covid to enable|us to deliver our objectives|| |and growth plan|||| |Continuing
our focus on the importance
ofsafeguarding
across af ofour work by strengthening
our team's awareness|||| |and knowledge
of policy and prackce|||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |As part of|an audit
in accordance
with ISAs (UKl.we exercise professional
iudgement
and maintain
professional
sceptimsm| |---|---| |throughout|the audit. We also:| ||Identify and assess the risks of mateiial
misstatement
ofthe knancial
statements,
whether due to fraud or error,| ||design and perform audit procedures
responsive
to these risks. and obtain audit evidence that is sufficient| ||and appropriate
to provide a basis for our opinion. The risk of not detecting a material
misstatement
resulting| ||from fraud
is higher than for one resulting
from error, as fraud may involve collusion, forgery. intentional| ||omissions, misrepresentations,
orthe override of internal control.| ||Obtain an understanding
of internal
control relevant to the audit
in order to design audit procedures
that are| ||appropriate
in the circumstances,
but not for the purpose
of expressing
an opinion an the effectiveness
ofthe| ||group's
internal
control.| ||Evaluate the approprrateness
ofaccounting
policies used and the reasonableness
ofaccounting
estimates| ||and related disclosures made
by the trustees.
material| ||uncertainty| ||Conclude on the appropriateness
of the trustees use ofthe gning cnncern
hnsis nf nor.niinting
nnd, hnsed| ||on the audit evidence obtained, whether a
exis related to events ar conditions
that| ||may cast significant doubt on the group's ar the parent chantable
campany's
ability to continue as a going| ||concern.
Ifwe conclude that a material
uncertainty
exists, we are required
ta draw attention
in our auditor's| ||report to the related disclosures
in the financial statements
or. if such disclosures are inadequate.
Io modify| ||our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report.| ||However,
future events or conditions
may cause the group orthe parent charitable
company
ta cease to| ||continue as a gaing cancem.| ||Evaluate the overall presentation,
structure and content of the financial statements.
including
the disclosures,| ||and whether the financial statements
represent
the underlying
transactions
and events
in a manner that| ||achieves
fair presentation.| ||Obtain suffiaent appropriate
audit evidence regarding
the financial
information
of the entities or business| ||activities
within the group to express an opinion on the financial statements.
We are responsible
forthe| ||direction,
supervision
and performance
ofthe group audit. We remain
solely responsible
foracr audit opinion.| |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.|| |||Note|Unrestricted
funds|Restricted
fundsf|Total
2022
E| |---|---|---|---|---|---| |Income and Endowments|from:||||| |Donations and legacies|||151||151| |Grants received|||5,710|217,160|222,870| |Charitable
activities|||2,446,371|230,780|2,677,151| |Investment
income|||2,165||2,165| |Income from other trading|activities||34,798||34,798| |Total Income|||2,489,195|447,940|2,937,135| |Expenditure
on:|||||| |Raising funds|||(8,269)||(8,269)| |Charitable
activities||5|2,599,526|159,219|2,758,745| |Total Expenditure|||2,607,795|159,219|2,767,014| |Net income/[expenditure)|for the year||(«8,600)|288,721|170,121| |Transfers between
funds|||335,721|335,721|| |Net movement
in funds|||217,121|(47,000)|170,121| |ReconciRation
offunds|||||| |Total funds brought
forward|||640,134|47,000|687,134| |Total funds carried forward||19|857,255||857255| |||Note|Unrestricted
funds|Restricted
funds|Total
2021| ||||E|E|E| |Income and Endowments|from:||||| |Donations and legacies|||306||306| |Grants received|||49,630||49,630| |Charitable
activities|||2,180,595|244,150|2,424,745| |Investment
income|||102||102| |Income from other trading|activities||51,333||51,333| |Total Income|||2,281,966|244,150|2,526,116| |Expendilure
on:|||||| |Raising funds|||(22, 173)||(22,173)| |Charitable
activities|||2,027.560|105,620|2,133,180| |Total Expenditure|||2,049,733|105,620|2,155,353| |Net income/[expenditure)|for the year||232,233|138,530|370,763| |Transfers between
funds|||244,282|244,282|| |Net movement
in funds|||476,515|(105,752)|370,763| |ReconciRation
offunds|||||| |Total funds brought
forward|||163,619|152,752|316,371| |Total funds carried forward||19|640,134|47,000|687,134| ## |||||Note|Total
2022|2021| |---|---|---|---|---|---|---| ||||||R|| |Fixed assets||||||| |Tangible assets||||11|62,779|32,655| |Investments||||12|367|367| ||||||63,146|33,022| |Current assets||||||| |Investments||||13|600,000|| |Stocks||||14|32,250|25,218| |Debtors||||15|117,201|98,471| |Cash at bank and in|||hand||360,547|703,960| ||||||1,109.998|827,649| |Creditors: Amounts||falling due within one year||16|(315,890)|(173.537)| |Net cunent|assets||||794,108|654,112| |Net assets|||||857254|687 134| |Funds ofthe|group:|||||| |Resiricted income funds||||||47,000| |Unrestricted|funds|||||| |Unrestdcted|general||funds||857,254|640,134| |Total funds||||19|857,254|687,134| ## ||||Note|Total
2022|Total
2021| |---|---|---|---|---|---| ||||||B| |Fixed assets|||||| |Tangible assets|||11|62,779|32,655| |Investments|||12|369|369| |||||63,148|33,024| |Current assets|||||| |Investments||||600,000|| |Stocks|||13|32,250|25,217| |~ebtors|||14|114,504|88,624| |Cash at bank and in hand||||349,352|701,858| |||||1,096,106|815,699| |Creditors: Amounts||falling due within one year|15|(328,530)|(190,749)| |Net cunent|assets|||767,576|624,950| |Net assets||||830,724|657,974| |Funds ofthe|group:||||| |Restricted income funds|||||47,000| |Unrestricted|funds||||| |Unrestricted|general|funds||830,724|610,974| |Total funds|||19|830,724|657 974| ## ## ||||Note|2022||2021| |---|---|---|---|---|---|---| |||||E||E| |Cash flows from operating
activities||||||| |Net income||||170,121||370,763| |Adjustments
to cash flows from|non-cash|items||||| |Depreciation||||36,032||29,615| |Investment
income
Loss on disposal oftangible
fixed assets||||(2, 165)
~1,651||(102)| |||||202,337||400,276| |Working capitol adjustments||||||| |Decrease/(increase)
in stocks|||14|(7,033)||13,781| |Decrease/(increase)
in debtors|||15|(18,730)||13,711| |Increase/(decrease)
in creditors|||16|142,352||(177,257)| |Net cash flows from operating|activities|||318,926||250,511| |Cash flows from investing
activities||||||| |Interest receivable and similar|income|||2,165||102| |Invested
in current asset investments||||(600,000)||| |Purchase of tangible
fixed assets|||12|(66,155)||(8,885)| |Sale of tangible
fixed assets||||1,651||| |Net cash flows from investing
activities||||662,339||8,783| |Net increase
in cash and cash|equivalents|||(343,413)||241,728| |Cash and cash equivalents
at|I January||21|703,960||462,232| |Cash and cash equivalents
at|31 December||21|360549|.|903.960| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||Unrestricted|Restricted|Total|Tolal| |---|---|---|---|---|---| |||funds|funds||| |||General|Income|2022|2021| |||E|E|E|E| |Donations|from individuals|151||151|306| |Grants||5,710|217,160|222,870|2,470| |Coronavirus|Job Retention Scheme grant||||47,160| |||5.861|217,160|223,021|49,936| ## |Unrestricted|RestrIcted|Total|Total| |---|---|---|---| |funds|funds||| |General|Income|2022|2021| |E|E|E|E| |2,446.371|230.780|2,677,15 1|2,424,745| |2446,371|230,780|2,677 151|2,424.745| ## |Unrestricted|Restricted|Total|Total| |---|---|---|---| |funds|funds||| |General||2022|2021| |E||E|E| |34,798||34.798|51,333| ## ## ||||Acflvgy
undertaken
directly|support cosh|Total
2022|Total
2021| |---|---|---|---|---|---|---| ||||5|5||| |Sports camps|UK||1,579,011|1,134,734|2,713,745|2,126,485| |Overseas chadtable||activities|38,349|50|38,399|695| ||||1617360|1134784|2752144|2127180| ## ## |Charitable
activities expenditure|||||| |---|---|---|---|---|---| ||Basis ot
allocation|Unrestricted
funds|Restricted
funds|Total|Total| |||General||2022|2021| |||E||E|B| |Premises costs|Usage|218,332||218,332|151,559| |Wages and salaries|Usage|782,429|4.171|786,600|622,902| |Staff welfare and training|Usage|9,357||9,357|8,507| |Printing, postage and stationery|Usage|4,771||4,771|2,683| |Motor and travel|Usage|33,261|1,296|34,557|38,286| |Legal and professional|Usage|30,481||30,481|22,995| |Bank charges|Usage|16,306||16,306|14422| |Depreciation
and loss on disposal|Usage|34.380||34,380|29,615| |||1 129,317|5.467|1,134.784|890.969| ## |Support costs allocated|to charitable
activities|||||| |---|---|---|---|---|---|---| |||Basis ol
aBocatlon|Sports camps
UK|Overseas
charitable
activities||Total
2022| |Legal costs||Usage|30,481|||30,481| |Staff costs||Usage|782,429|||782,429| |Premises costs including|depreciation|Usage|252,712|||252,712| |Other support costs||Usage|63,645||50|63,695| ||||1,129.267||50|1,129317| |||Basis of
aBocalion|Sports camps
UK|Overseas
charitable
actlvlBes||Total
2021| |Legal costs||Usage|22,995|||22.995| |Staff costs||Usage|622,902|||622,902| |Premises costs including|depreciation|Usage|181,174|||181,174| |Other support costs||Usage|63,851||47|63,898| ||||890,922||47|890,969| ## ## |The aggregate
payroll costs were as follows:||| |---|---|---| ||2022|2021| |||E| |Staff costs during the year were:||| |Wages and salaries|1,382,022|1,157,535| |Social security costs|78,323|70,536| |Pension costs|49,537|64,530| ||1,509,882|1,292,601| |year expresse|d|as full-time|equival|ents
was as|follows:|||| |---|---|---|---|---|---|---|---|---| ||||||||2022|2021| |Head office|||||||21|16| |Camp|||||||140|86| ||||||||161|102| |The number of||employees|whose|emoluments|fell within the following|bands was:||| ||||||||2022|2021| |E80,001 - 290,000||||||||| |No employees||received employee||benefits of|more than 260.000.|||| |10 Auditors'|remuneration|||||||| ||||||||2022|2021| ||||||||f.|| |Audit of the financial statements|||||||6,600|6,000| |Other non-audit||services - payroll|||||5,575|5,841| ||||||||12,175|11,841| ## ## |~Grou| |---| |Cost| |At
1 January
2022| |Additions| |Disposals| |At 31 December 2022| |Depreciation| |At
I January
2022| |Charge for the year| |Eliminated
on disposals| |At 31 December 2022| |Net book value| |At 31 December 2022| |At 31 December 2021| ## |Cost| |---| |At
1 January
2022| |Additions| |Disposals| |At 31 December 2022| |Depreciation| |At
1 January 2022| |Charge for the year| |Eliminated
on disposals| |At 31 December 2022| |Net book value| |At 31 December 2022| |At 31 December 2021| |Motor
vehicles|Furniture
and
equipment|Sports
equipment|Total| |---|---|---|---| ||244,865|130,965|375,830| |21,168|24,353|20,634|66,155| ||161,797|102,202|263,999| |21,168|107,421|49,397|177,986| ||217,370|125,805|343,175| |5,292|19,945|10,795|36,032| ||161,797|102,202|263,999| |5,292|75,518|34,398|115,208| |15,876|31,903|14,999|62.778| ||27,495|5,160|32,655| |Motor
vehicles|Furniture
and
equipment|Sports
equipment|Total| ||244,865|130,965|375,830| |21,168|24,353|20,634|66,155| ||161,797|102,202|263,999| |21,168|107,421|49,397|177,986| ||217,370|125,805|343,175| |5,292|19,945|10,795|36,032| ||161,797|102,202|263.999| |5,292|75,518|34,398|115,208| |15876|31 903|14999|62.778| ||27,495|5,160|32,655| ## ## |~Grou|~Grou|||| |---|---|---|---|---| |||2022|2021|| |||E|6|| |Other investments||367||367| |Other investmenls||||| |||Listed|Total|| |||Investments||| |||E|6|| |Cost or Valuation||||| |At|I January
2021|367||367| |At|31 December 2021|367||367| |Net book value||||| |At|31 December 2021|367||367| |At|31 December 2020|367||367| ## |||||2022||2021|| |---|---|---|---|---|---|---|---| |||||E||E|| |Shares|in group undertakings|and participating|interests||2||2| |Other|investments||||367||367| ||||||369||369| |Shares|in group undertakings|and participating|interests||||| |Subsidiary
undertakIngs|Tot|I| |---|---|---| |E|E|| |Cost| |---| |At
1 January
2022| |At 31 December 2022| |Net book value| |At 31 December 2022| |At 31 December 2021| |Ot|her Investments|||| |---|---|---|---|---| |||Listed
Investments|Total|| |||E|E|| |Cost or ValuatIon||||| |At|1 January
2022|367||367| |At|31 December 2022|367||367| |Net book value||||| |At|31 December 2022|367||367| |At|31 December 2021|367||367| ## |||||Proportion|of|| |---|---|---|---|---|---|---| |Undertaking||Counlry of
incorporation|Holding|voting rights
and shares||Principal
aciivlty| |||||held||| |||||||The provision| |The King's Foundation
Professional
Services Limited (03145498)||England and
Wales|Ordinary
shares|100%||ofservices ta
the childcare
and leisure| |||||||sectors| ## ## ## |15|Debtors|||||| |---|---|---|---|---|---|---| ||||Group||Charity|| ||||2022|2021|2022|2021| ||||f|8|f|f| |Trade debtors|||4,292|10,057|1,595|210| |Other debtors|||112.909|88.414|112,909|88.414| ||||117,201|98,471|114504|88,624| |16|Creditors: amounts|falling due within one year||||| ||||Group||Charily|| ||||2022|2021|2022|2021| ||||E|E||8| |Trade creditors|||83,019|47,905|83,019|47,905| |Due|from group undertakings||||13,196|23,138| |Other taxation and social secudty|||12,656|20,466|12,656|18,740| |Accruals|||220.215|105,166|219,659|100,966| ||||315,890|173,537|328,530|190,749| |Other financial commitments
Premises rent 8car lease||||| |---|---|---|---|---| ||Group||Charily|| ||2022|2021|2022|2021| |||E|E|| |Not later than one year|59,498|62,811|59,498|62.811| |Later than one year and not later than five years|200,998|212,996|200,998|212,996| |Over five years|35,625|83.125|35,625|83.125| ||296,121|358,932|296.121|358 932| ## |~Grou||||||||| |---|---|---|---|---|---|---|---|---| |||||Balance at I
January 2022|Incoming
resources|Resources
expended|Transfers|Balance at31
December
2022| |||||||||B| |Unrestricted|general||funds|640,134|2,489,195|(2,607,795)|335,721|857,255| |Restricted|income||funds|47,000|447,940|159,219|335,721|| |||||687.134|2.937.135|2,767014||857255| |||||Balance at 1
January 2021|Incoming
resources|Resources
expended|Transfers|Balance at 31
December
2021| |||||||||R| |Unrestricted|general||funds|163,619|2,281,966|(2,049,733)|244,282|640,134| |Restricted income|||funds|152,752|244 150|10S.620|244,282|47,000| |||||316,371|2.526,116|2.1S5,353||687,134| |Charitx||||||||| |||||Balance at I
January 2022|Incoming
resources|Resources
expended|Transfers|Balance at31
December
2022| |Unrestricted|general||funds|610.974|2,483,556|(2,599,526)|335,721|830,725| |Restricted income||funds||47,000|447,940|159,219|335.721|| |||||657,974|2,931.496|2,758,745||830,72S| |||||Balance at I
January 2021|Incoming
resources|Resources
expended|Transfers|Balance at 31
December
2021| |||||||E||E| |Unrestricted|general||funds|157,886|2,236,366|(2,027,560)|244,282|610,974| |Restricted income||funds||152,752|244,150|105.620|244.282|47,000| |||||310,638|2,480.516|2.133180||657,974| ## ## ## |Unrestricted|Restricted|| |---|---|---| |funds|funds|| |General||Total (ands| |8||E| |62,779||62,779| |367||367| |1,057,498|52,500|1,109,998| |263,390|52,500|315,890| |857,254||857.254| ## |Tangible fixed assets| |---| |Fixed asset investments| |Current assets| |Current
liabilities| |Total net assets| |Unrestricted|Restricted|| |---|---|---| |funds|funds|| |General||Total funds| |E||f| |62.779||62,719| |369||369| |1,043,606|52,500|1,096,106| |276.030|52.500|328.530| |830724||830,724| ## ## |~Grou||||| |---|---|---|---|---| |||||At 31| |||At 1 January
2022|Cash flow|December
2022| |||||8| |Cash|at bank and in hand|703960|343,413|360.547| |Cash|and cash equivilents|703960|343,413|360,547|