COMPANY REGISTRATION NUMBER: 05302575 CHARITY REGISTRATION NUMBER: 110915B Our Kids Company Limited by Guarantee Consolidated Financial Statements 31 December 2023 GAHARRIS&C LIMITED Chartered accountants & statutory auditor Brulimar House Jubilee Road Middleton Manchester England M24 2LX
Our Klds Company Limited by Guarantee Consolidated Financlal Statements Year ended 31 December 2023 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Consolidated statement of financial activities (including income and expenditure account) Consolidated statement of financial position 10-15 16 17 Statement of financial position Our Kids non-consolidated 17(a) Statement of cash flows 18 Notes to the consolidated financial statements 19-32 Notes to the non4onsolidated financial ststement 33-34
Our Kids Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 December 2023 The trustees, who are also the directors for the purposes of company law, present their report and the Consolidated Financial Statements of the charity for the year ended 31 December 2023. Reference and admlnlstratlve detalls Reglstered charity name Our Kids Charfty reglstration numbor 1109158 Company reglstration number 05302575 Princlpal offlc8 and reglstered Brulimar House office Jubllee Road Middleton Manchester M24 2LX The trustee8 Mrs H Corn Mrs H Steinberg Audltor G A Harris & Co Umited Chartered accountants & statutory audltor Brulimar House Jubilee Road Middleton Manchester England M24 2LX Banker8 National Westminster Bank PIC PO Box 12263 1 Prlnces Street London EC2R 8PH
Our Kids Company Limlted by Guarantse Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 Structure. governance and management Our Klds is constituted by Memorandum & Articles of Association and is a comp8ny limited by guarantee. It was incorporated on the 2nd December 2004, company number 5302575. It was registered as a charity on 20th April 2005, charity number 1109158. The day to day running of the charity is undertaken by Mr P Corn, husband of one of the trustees, Mrs H Com. All major decisions are made collectively by the trustees and all trustees give their time freely. The trustees are unpaid and details of any related paty transactlons are disclosed as 8pplicable in the notes to the accounts. Any arrangements for setting the pay of the charity's employees are the sole doing of the trustees. There are no pollcles for the Inductlon or trdining of new trustees. Rlsk revlew The trustees have assessed the major risk to which the charity is exposed and are satisfied that systems are in place to man8ge any such exposure. The risk faced by the charity are pr5ncipalEy operational from making ineffective grant maklng. Such risks are managed by the trustees researching potential beneficiaries b&for8 granting donatlons. By reporting back to the other trustees and by reviewing such procedures regularfy, It Is hoped that safeguards in place are strengthen to ensure public benefit os achieved from all grants made. other risks are assoclated wlth the trading subsidiaries of the parent charlty. Such operational risks include possible lose of market share and becoming unable to pay liabilities as they fall due. The directors and management of the subsidiaries monitor cash flow effectively and report regularly to ensure they malntain and hopefully strengthen their market posltlon so cash flow is not an issue.
Our Kids Company Limitsd by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) {conllnued) Year ended 31 December 2023 Objectives and activitie8 The objectives of the charfty are: 1) the relief of poverty and hardship and 2) the advancement of education and training for young people within the I1 community with particular reference to social and cultural aspects of education. Tha maln actlvltle8 of the charlty are: 1) the ownershlp of Arrow Mlll, Rochdale 2) Ownershlp of shares in subsidiary companies 3) Provision of counselling services to young people to ensure they are ready for work 4) Provision of training and work placements within the subsidiary trading company to ensure the young people have the skills to become employees of the subsidiary company or transferrable to other jobs. 5) Provision of grants to indivlduals who meet the charity's criteria to enhance thelr soclal and cultural s.118. 6) Provision of donatlons to other charities who have the same objectives as Our Klds.
Our Kids Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 December 2023 Objectlves and actlvltles (¢¢)nUnu•d) Publ1¢ beneflt The trustees confirm that they have referred to the guidan contained in the Charity Commission's general guidance on publlc benefit and in p8rticular to its supplementary public benefit guidance on advancing education when reviewing the charity's Sims and objectives and in planning future activities and setting grant making policies for the year. Grant maklng polley The charity has established its grant m8king policy to achleve its objects for the public benefit. The charity utilises funds received from the the subsidiaries to pay out grants that are appropriate for the charits'es objectives. The charlty is also engaged in actively helping young people to become employable. The applicAtion of the funds by way of grants is to either instltutions or individuals. The trustees conslder they have met the public benefit test and outline these achlevements below. The trustees measure the success of achleving the stated aims by the number and value of grants paid out each year as w611 as how many successful work placements are achieved by individuals who have received grant monies andlor training and education from the charlty. The grants paid out in the year are detailed In the notes to these accounts and the trustees conslder that they have met thelr aims successfully this year. Several individuals who were offered training and education during the year have gone on to become employees of the subsidiaries after work placements funded by the charity. The trustees consider the short term aims to be similar to the longer term alms and asse8S the achievement of the charity In the same w8y. strateglc report The followlng sections for achievements and perFomiance, financial review and plans for future periods form the strategic report of the charity,
Our Kids Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) (conllnued) Year ended 31 December 2023 Achievements and performance The charity received £16,620 (2022 £31,910) of donations in the year from third parties. The parent charity also reived gift aid payments from its 2 trading subsidiaries. Any pretax surpluses generated in the individual subsidlary's year of trading are transferred as gift aid payments, within 9 monlhs of the balance sheet date, to the parent charity. For the year ended 31 st December 2023. Easygift Trading Ltd made such payments totalling £327.527 (2022 £518,549) and Arrow Mill Management Ltd £44,896 {2022 £49,936). This income Is not shown on the face of the consolidated SOFA,per page 16. Easyglft Tradlng Ltd The figures for the wholly owned subsidiary, Easygift Trading Limited, have been consolidated within the accounts of the charlty. The notes to the accounts disclose the split of balances beeen the charity and Easygift Trading as well as a summary of the results for the year. Easygift Trading Ltd Is a UK based company, selllng fumiture, other household products and gifts online. During the year, Easygift Trading Ltd successfully provided 6-12 month work experience, tralnlng and employment to young adults, aged between 16 24 who were unemployed. These activltles enabled many young people to become employable, some within the subsidiary and some by other companies. These activities were made in line with the stated objectives of the charfty. Arrow Mll Management Ltd The trading results of the 2nd trading subsidiary, Arrow Mill Management Ltd, have also been consolidated within the accounts of the charity. The notes to the accounts dlsclose the split of balanS between the charity and Arrow Mill Management Ltd, as well as a summary of the results for the year. Arrow Mill Management Ltd is a UK based company that manages Arrow Mlll, the propety owned by the charity. Easygift Trading Ltd occupy approximately 400/0 of the mill, the remainder being sublet to third parties. Our Klds Charlty The charity paid out grants to other ch8ritable institutions and individuals totslllng £76,640 (2022 £52,520) in the year. A summary of the grants made during the year and are detalled In the accounts and were made in line of the stated objectives of the charity for education81 and communal purposes. Other costs for the charity durlng the year totalled £383,474 (2022 £370,779). The summary below shows some of the Significant costs: Rates £114,758 (2022 £113,635) Heat & light £78.806 (2022 £72,190) Repairs and maintenance £17,410 {2022 £51,447) Professional fees £16,390 (2022 £11,150) Mortgage interest £47,339 (2022 £42,607) Hire purchase Interest £9,680 (2022 £8,874) The hlre purchase interest relates to solar panels which were Installed on the roof of Arrow Mill during the previous year. costing £150,000. Future heat and light costs are expected to be significantly lower due to the installation of the panels. There were no material fundraising costs incurred during the year.
Our Kids Company Limited by Guarantee Trustses, Annual Report (Incorporating the Directorfs Report) {lnued) Year ended 31 December 2023 During the year, the trustees considered the fair value of the land and buildings of the charity and believe no revaluation Is considered necessary at the balance sheet date. The consolldated net income for the year has Increased considerably from £264,858 In 2022 to £430,455. Thls Is mainly due to the improved results of Easygift Trading Limited. Flnanclal revlew Investment perfomiance The trustees report that the 2 wholly owned subsidiaries have continued to have healthy sales and profits during the year. Their success has enabled the charity to continue to support young people who have soclal, emotional and educational difficultles prior to joining the education and tralning programme. The trustees believe that the 2 subsldlaries will continue to grow in the future ensuring charitsble actlvitles can continue for many years to come. The charity has continued to invest in the tradlng subsidiary, Easygift Trading Llmited. The charity purchased a further £85,000 of share8 in the year. The charity's total share value in Easyglft Trading Ltd is now £1,185,001. Reserves pollcy The are no restricted funds in the charity. All funds held are unrestricted and have arisen from past OPW8ting results from the charity and its subsidiaries. The trustees are satisfied that the balance of the fund is an acceptable level of reserves given Ihe nature of revenue CeIpts against grants payable. The trustees intend to retain a level of reserves that reflects the rlsk of the charity and its subsldl8rles. In conslderlng the financial obllgatlons of the charity, the trust8e8 have resolved to maintain minimum reserve, being enough to cover all Ilabllltles as they fall due. The general fund reserves at the balance sheet date are £3,554,972 (2022 £3,122,680). The revaluation reserve balance {relating to the MS11) is £1,110,634 (2022 £1,110,634). Macro-Economlc Factors Covid Post Covid, Easygift Trading Ltd, used new shlpplng suppliers, h8ulage providers and courlers, which were cheaper and rn0 reliable than those used prevlously. These cost savings are reflected in the Improved financial performance of the subsidiary.
Our Kids Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) fconllnuedj Year onded 31 December 2023 The results have Arrow Mill Management Ltd have also improved post COVID as the mill is now fully let for most of the financial year. Brexit Easygift Trading has again overcome the logistical and legislative challenges it encountered in previous years due to BrexiL Intemational trade continues to grow. Stock Management Previous supply chain problem have not been an issue in this financial year. A new dedicated account manager at the online platfomis and sales promotions have ensured that stock lines offered have been popular with consumers and profitable. Risk: Inflation The trading subsidiary, Easygift Trading Ltd, constantly monitors the cost of goods, listing fees, shipping and transport costs. It takes into careful consideration the effects of price increases v profitability and how much of the price increases of cost of goods can be passed on to customers. They use bespoke software which enable the sales team to follow the sales trend of specific product lines allowing the company to malntain this balance. Plans for future perfods The trustees plan to continue raising funds for projects in line wlth the Memorandum & Articles of Association and pursue those objectives and projects with all the resources avallable to the charity. Trustees. re8pon8lbllltles 8tat8ment The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the Consolidated Financial Statements In accordance with appllcable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice). Company law requires the charity trustee8 to prepare Consolidated Financial Statements for each ye8r which give 8 true and fair view of the state of affairs of the charltable company and the Incoming resources and application of resources. including the income and expenditure, for that period. In preparing these Consolidated Financial Statements, the trustees are requlred to: select suitsble accounting pollcles and then apply them consistently; observe the methods and principles in the applicable Charities SORP; make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK knounting Stsndards have been followed, subject to any material departures disclosed and explained in the Consolidated Financial Ststements; prepare the Consolldated Financlal Statements on the going concern basis unless it is inappropriate to presume that the charfty wlll contlnue In business.
Our Kids Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 December 2023 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and dlsclose with re8sonable accuracy at any time the flnancial position of the charity and enable them to ensure that the Consolidated Financial Statements comply with the Compsnies Act 2006. They are also responslble for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is 8 trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit information of whlch the charty's auditor is unaware; and they have tsken all steps that they ought to have taken as 8 trustee to make themselves aware of any relevant audit information and to establlsh that the charity's auditor is aware of that information. The auditor is deemed to have been re-appolnted in accordance with section 487 of the Companies Act 2006.
Our Kids Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 The twstees, annual report and the strategic report were approved on 13 October 2024 and signed on behalf of the board of trustees by,. Mrs H Corn Trustee
Our Kids Company Limited by Guarantee Independent Auditorfs Report to tha Members of Our Kids Year ended 31 December 2023 Oplnlon We have audited the financial statements of Our Kids (the 'parent') and its subsidiaries (the 'group') for the year ended 31st December 2023. These statements comprise the Consolidated Statement of Financial Activities (including income and expenditure account). the Consolidated Statement of Financial Position, the Consolidated Statement of Cash Flows, the Statement of Financial Position for the parent and notes to the financial statements named above, including a summary of significant accounting policies. In our opinion, the financial statements above: -give a true and falr view of the state of the group's and of the charitsble company's affairs as at 31st December 2023 and of the group's incoming resources and application of resources (profiuloss) for the year then ended. -have been property ppared in accordance with United Klngdom Generally Accepted Accountlng Practi,. -have been prepared in accordance with the requirements of the Companies Act 20C6. Basls for oplnlon We conducted our audit in 8ccordance with International Standards on Auditlng (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the consolidated financial statements sects'on of our pOrt. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the Consolidated Financial Stst8ments In the UK induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provlde a basis for our opinlon. Conclu8lons relatlng to golng concern In audltlng the Consolidated Financlal Statements, we have Concluded that the trustees, use of the going concem basls of accounting in the preparation of the Consolidated Financlal Statements is appropriate. Based on the work we have performed, we have not identified any material uncertalnties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going cone2m for a period of at least twelve months from when the Consolidated Financial Statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going Conrn are described in the relevant sections of this report. 10-
Our Kids Company Limited by Guarantse Independent Auditor's Report to the Members of Our Klds (conllnued) Year ended 31 December 2023 Other Inforniatlon The other information comprlses the information included in the annual report, other than the Consolidated Financial Statements and our auditor's report thereon. The trustees are responsible for the other information. Our oplnion on the Consolidated Financial Statement8 does not cover the other information and, except to the extent otherwise explicitly ststed in our report, we do not express any form of assurance concluslon thereon. In connection with our audit of the Consolidated Financial Statements, our r8sponsibllity is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the Consolidated Financial Statements or our knowledge obtained in 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 Consolidated Financlal Statements or 8 materlal misstatement of the other information. If, based on the work we have performed, we conclude that there is a material mlsststement of this other information, we are required to report that fact. We have nothing to report in thls regard. Oplnlons on other matter8 pre8crlbed by the Companles Act 2006 In my opinion, based on the work undertaken in the course of the audit.. the infomiation given in the trustees, report, which Indudes the dlrectors, report and the strategic report, (prepared for the purpos88 of Company Law), for the year ended 31st December 2023, is consistent with the financial ststements, and; -the trustees report has been prepared In a¢cordanee wlth applicable legal requlrements. Matter8 on whlch we aro requlred to report by exeeptlon In the light of the knowledge and understanding of the charity and Its environment obtained in the course of the audlt, we have not identified material mlsstatements In the trustee8' report. We have nothing to report in respect of the following matters in relation to whlch the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept, or retums adequate for our audSt have not been received from br8nches not visited by us; or the Consolidated Flnancial Statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified bylaw are not made; or we have not received all the infomation and explanations we require for our audit.
Our Kids Company Limited by Guarantee Independent Auditor's Report to the Members of Our Kids (eontlnued) Year ended 31 December 2023 Responslbllltles of trustees As explained more fully in the trustees, responsibilities ststement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparatlon of the Consolidated Financial Statements and for being satisfied that they give a true and falr vlew, and for such internal control as the trustees detemiine is necessary to enable the preparatlon of Consolidated Financial Statements that are free from material misstatemen( whether due to fraud or error. In preparing the Consolidated Flnanclal Statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operatlons, or have no realistic alternative but to do so. 12-
Our Kids Company Limited by Guarantee Independent Auditor'8 Report to the Members of Our Kids (eonllnued) Year ended 31 December 2023 Audltorfs responslbllltles for the audlt of the consolidated flnancial statements Our objectives are to obtain reasonable assurance about whether the Consolidated Financlal statements as a whole are free from materfal misststemen( whether due to fraud or error, and to issue an auditorfs report that includes our oplnlon. Reasonable assurance Is a high level of assurance, but is not a guarantee that an audlt conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise trom fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influence the economic decisions of users tsken on the basis of these Consolidated Financial Statements. Irregularitie8, including fraud, are instsnces of non-compliance with laws and regulatlons. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of Irregularities, including fraud. The extent to whlch our procedures are capable of detecting irregularities, including fraud is detailed below: I looked at the charity's and subsidlarle8 policies and procedures relating to fraud and compliance with laws and regulations. l also inquired with the trustees and directors about their own identification and assessment of the risk of irregularities. Based on thls understanding, l identlfled and assessed the rlsks of material misstatement in the consolidated financlal statements and designed and performed audit procedures in response to those risks. Key law8 and regulations whlch have a direct effect on the determination of material amounts and disclosures in the consolidated financial ststements, the most significant being Companies Act 2006 and the Charities SORP (FRS 102). l also gained knowledge of the legal and regulatory frameworks which do not have a dlrect effect on the consolldated financial ststements but non-compllance with may have a fundamental effect on the companleslcharity's ability to operate. 18lso looked at the comparative figures contained In the consolidated flnancial statements and the indlvidual subsidiary companles and parent charity to understand how the accounts were prepared by the previous auditors. Audlt response to rlsks Identlfl8d Procedures were designed wlthin the audit programmes of the subsldiaries and charlty audit files to identify any risks or non compliance by way of discussions wlth management, revlew of after date trading activities or donatlons made and a review of trustees and directors, meetings where any such instances of fraud and Irregularity may have been identified. 13-
Our Kids Company Limlted by Guarantee Independent Auditor's Report to the Members of Our Klds (condnued) Year ended 31 December 2023 As part of an audit in accordance with ISAS (UK), we exerclse professional judgment and maintain professional SptI¢lSrn throughout the audiL We also: Identify and assess the risks of material misstatement of the Consolidated Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those 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, mlsrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audlt in order to design audit procedures th8t a appropriate In th8 circumstances, but not for the purpose of expressing an opinlon on the effectlveness of the internal control. Evaluate the approprlateness of accounting policles used and the reasonablene88 of accounting estimates and related disclosures made by the trustees. Conclude on the approprlateness of the trustees, use of the going concern basls of accountlng and, based on the audlt evidence obtalned, whether a material uncertainty exists related to events or conditions that may cast sIgnifnt doubt on the charlty's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditof s report to the related disclosuS in the Consolidated Financial Statements or, if such disclosures are inadequate, to modify our opinlon, 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 charity to cease to continue as a going concern. Evaluate the overall presentatSon, structure and content of the Consolidated Financial statements, including the disclosures. and whether the Consolidated Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation. -14-
Our Kids Company Limited by Guarantee Independent Auditor's Report to the Members of Our Kids (¢onttnued) Year ended 31 December 2023 We communicate with those charged with governance regarding, among other matters, the planned scope and tlmlng of the audlt and signlficant audlt findings, including any significant deflciencies in intemal control that we Identify durlng our audlt. Use of our report This report is made solely to the charity's member8, 88 8 body. in 8ccord8nce with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the oplnlons we have formed. Gary Harris (Senior Statutory Auditor} For and on behalf of G A Harris & Co Limited Chartered accountants & statutory auditor Brulimar House Jubilee Road Middleton Manchester England M24 2LX 13 October 2024 15-
Our Kids Company Llmited by Guarantee Consolidated Statement of Financial Activities (Includlng Income and Expenditure Account) Year ended 31 December 2023 2023 Unrestricted funds Total funds Total funds 2022 Nots Income and endowments Donatlons and legacies Other trading activities Total Income 16,620 16,620 31,910 16,645,788 16,645,788 14,060,718 16,662,408 16,662,408 14,092,628 Expendlturo Expenditure on raising funds,. Costs of other trading actlvlties Expenditure on charitable activities Total expendlturo 7 15,807,896 16,807,896 13,428,084 424,057 424,057 399,706 16,231,953 16,231.953 13,827,770 Net Income and net movement In fund8 430,455 430,455 264,858 Reconclliatlon of funds Totsl funds brought forward Total fund8 carrfed fOard 4,233,314 4,233,314 4,663,769 3,968,456 4,233.314 4,663,769 The statement of financlal activities includes all gains and losses recognlsed in the year. All income and expenditure derive from continuing activities. The notes on page8 1942 forni part of these Consolidated Flnanclal Ststements. 16-
Our Kids Company Limited by Guarantee Consolidated Statement of Financial Position 31 December 2023 2023 2022 Not• Flxed assets Intsngible assets Tangible fixed assets Investrnents 15 16 17 42,288 3,260,809 2,875 3,305.972 3,300,804 2,875 3,303,679 Current assets Stocks Debtors Cash at bank and in hand 18 4,791,659 19 1,576.818 1,475,539 7,844,016 4,650,761 1,178,852 663,762 6,493,375 Credltors: amounts falllng due wlthln on• year Net current as8et8 20 4,019,273 3,035,409 3,824,743 3,457,966 7.130,715 6,761,645 Total a880t8 less current Ilabllltl08 Credltor8: amounts falllng due after more than one year Net assets 21 2,466,946 4,663,769 2,528,331 4,233,314 Fund8 of the charlty Unrestricted funds.. Rev81uation reserve Other unrestrlcted Income fund8 Total unrestrlcted fund8 1,110,634 3,553,136 4,663,769 1,110,634 3,122,680 4,233,314 4,233,314 Total charlty funds 24 4,663,769 These Consolidated Financlal Statements were approved by the board of trustees and authorised for issue on 13 October 2024, and are signed on behalf of the board by., Mrs H Corn Trustee The notes on pages 1942 forni part of these Consolldated Financlal Ststements. 17-
OUR KIDS CHARITY Statsment of flnancial position (unconsolldated) 31 December 2023 2023 2022 Note Flxed assets Tangible assets Investsnents 28 2,935,899 29 1,187,877 2,948,893 1,102.877 4.123,776 4,051,770 Current assets Debtors Cash at bank and in hand 30 530,178 70,890 560,226 24,203 601,068 584,429 Credltor8: amounts falllng due wlthln one year 31 (216,319) (179,124) Net current assets 384,749 405,305 Total a88ets less current Ilabllltla8 4,508,525 4,457,075 Credltorn: amounts falllng duo after mor8 than ono year 32 {1,129,915) 3,378,610 (1,319,404) 3,137,671 Net assets Capltal and re8erve8 Revaluation reserve Profft and loss account 1,110,634 2,267,976 1,110,634 2,027,037 Shareholder8 funds 3,378,610 3,137,671 The financial ststements have been delivered in accordance with the provisions applicable to companies subject to the small companies, regime and In accordance with FRS 102 The Financial Reportlng Standard applicable in the UK and Republic of Ireland,. The notes on pages 33 to 34 forni part of these financial statements. Pago 17{a)
OUR KIDS CHARITY ststement of flnanclal posltlon (contlnued) 31 December 2023 These financial statements were approved by the tx)ard of directors and authorised for issue on 13 October 2024, and are signed on behalf of the board by.. Mrs H Corn Director Company reglstration number. 05302575 The notes on pages 33 to 34 form part of th•88 ftnanclal ststements. Pag8 17(a)
Our Kids Company Limited by Guarantee Statement of Cash Flows Year ended 31 December 2023 2023 2022 Ca8h flows from operating activities Net income 430,46S 264.858 Adjustments for.. Depreciation of tangible fixed assets Amortisation of intangible assets Interest payable and similar charges Accrued expenses 82,668 1,837 171.561 24.421 91,212 121,157 124,208 Changes in.. StcKks Trade and other debtors Trade and other creditors Cash generated from operations Interest paid Net cash from operating 8Ctivltles (140,898) {397,966) 753,011 926,089 798,161 (81,138) (979,182) 339,276 (171.561} (121,157) 753,528 218,119 Cash flow8 from Investlng actlvltl88 Purchase of tangible assets Purchase of intangible assets Net cash used In Investing activities (42,673) (212,478) (44,125) (86,7981 (212,478) Cash flow8 from flnanclng actlvitle8 Proceeds from borrowings Payments of finance lease li8billtles Net cash froml{used in) financlng activities 170,047 (25,000) q45,047 (589.893) 127.083 (462,810) Net Increa801(decrease) In cash and eash equlvalents Cash and caBh equlvalents at beglnnlng of year Cash and ca8h equlvalents at end of year 811,777 883,762 1,475,639 (457,169) 1,120,930 663,761 The notss on pages 1942 forni part of these Con801idated Flnancial Slatements. 18-
Our Kids Company Limited by Guarantee Notes to the Con8011datsd Financial Statements Year ended 31 December 2023 General infomiatlon The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office Is Brulimar House, Jubilee Road, Middleton, Manchester, M24 2LX. Statement of compllance These Consolidated Financi81 Ststements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companles Act 2006. Aceountlng pollcle8 Consolldatlon These financial statements consolidate the results of the charity, Our Kids and Its 2 1000/0 owned subsidiaries, Easygift Trading Ltd and Arrow Mill Management Ltd. Easygift Trading Ltd is a company reglstered In England & Wales, registered company number 7061441. The registered office is Arrow Mill, Queensway, Rochdale, Lancashlre, England OL11 2YW. Tha year end of Easygift Trading Lts is 31 st December 2023. Arrow Mill Management Ltd, Is also reglstered In England & Wales, registered number 9773133. The registered office of the company is as above. The year end of Arrow Mlll Management Ltd Is 31st December 2023. The eharity has not produ¢ed an individual SOFA as per exemption s408 Companies Act 2006. Bas18 of preparatlon The financial ststements have been prepared on the historical cost basis, as modified by the revaluation of investments which are included at market value. The accounts are prepared in sterling which is the functional currency of the entity. The accounts present consolidated information about the charfty (Our Kids) and its subsidiary undertakings (Easygift Trading Ltd and Arrow Mill Management Ltd). Golng concern The trustees have given due consideration for the future of the charity and its ability to meet its objectives. They have concluded that there are no material uncertainties about the charity's ablllty to continue. They believe the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concem basis in preparing Its financial statements. 19-
Our Kids Company Limited by Guarantee Notes to the Consolidated Financial Statements (¢ofttlnuodJ Year ended 31 December 2023 Accounting policies (¢ontlnu•dJ Judgements and key sources of estlmatlon uncertalnty The preparatlon of the financi81 ststements requires management and the trustees to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on historical experience and other factors that are consldered to be relevant. Actual results may differ from these estimates. The estlmates and underlying assumpllons are reviewed on an ongolng basis. Revisions to accounting estlmates are recognised in the perlod in which the estimate is revised, If the revision affects only that perlod, or in the period of the revlslon and future periods if the revlslon affects both current and future periods. Slgnlflcant Judgements The judgements made by management and trustees that have a significant effect on the amounts recognised In the financial statements are described below. Sources of estlmatlon uncertalnty Land and buildings 8re ststed at the falr value based on the. trustees valuation. No recent independent professional valuation ha8 been done. The last professional valuatlon of Arrow Mill was 2017. The rise in interest rates and Inflatlon has caused significant dlsruption and uncertainty In the UK property market which has Inevitably increased the degree of Judgement involved in the property valuation at 31 st December 2023. The historic81 cost of the bulldlng was £2.1m and Is currently valued in tha accounts at £3.2m, the difference belng shown In the revaluation reserde. Closing stock of the trading subsidiary was valued at £4.8m at 31st December 2023. This was after a provislon of £260k for slow moving and obsolete stock which represents less than 50h of total stock. The directors and management of the trading subsidiary belief this to be reasonable but the actual provision18 uncertain, largely due to seasonal and fashionable sales trends. Forelgn currencles Forelgn currency transactions sre Initially recorded In the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary aspets 8nd liabilities denominated in foreign currencies are translated at the exchange rate ruling 'at the reporting date, wlth any gains or losses being taken to the statement of financial activitie$, -20-
Our Kids Company Limited by Guarantee Note8 to the Con801idated Financial Statsments (continued) Year ended 31 December 2023 Accounting policies fcontlnued) Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earnrked by the trustees for particular future project or commitrnent. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of bNo sub-classes: restricted income funds or endowment funds. Incomlng re8ource8 All Incoming resources are included in the statement of financial activities when entitlement has passed to the charlty; It Is probable that the economlc beneflts assoclated wlth the trans8Ction will flow to the charity and the amount can be rellably measured. The followlng specific policies are applied to partlcular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt Is probable and its amount can be measured reliably. legacy Income Is recognised when receipt is probable and 8ntitlement18 establlshed. income from donated goods is measured at the falr value of the goods unless this Is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised In the accounts when recelved If the value can be reliably measured. No amounts are Included for the contribution of general volunteers. Income from contracts for the supply of services is recognised with the dellvery of the contracted service. This is classified as unrestricted funds unless there is a contractual requlrement for It to be spent on a particular purpose and retumed if unspent, in whlch case It may be regarded as restricted, 21
Our Kids Company Llmltsd by Guarantee Notes to the Con8olldated Financial Statsments {contlnuedJ Year ended 31 December 2023 Accountlng pollcles (contlnuedj Resources expended Expenditure is recognised on an accruals basls as a liabllity is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classlfled under headings of the statement of financlal activities to which it relates: expendlture on raising funds Includes the costs of all fundraising activities, events, non-charltable tradlng activities, and the sale of donated goods. expendlture on charitable activities Includes all costs incurred by a ch8rity in und6rtaking activities that further Its charitable aims for the benefit of its benefici8ries, including those support costs and costs relating to the govem8nce of the charity apportioned to charit8ble activities, other expendlture Includes all expenditure that Is neither related to ralslng funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflectlng the use of the resour¢e. Dlrect costs attributable to a single activity are allocated directly to that actlvlty. Shared costs are apportloned beeen the activities they contribute to on a reasonable, justifiable and conslstent basls. Intanglble a88ets Intsnglble assets are initially recorded at cost. and are subsequently stated at cost less any accumulated amortlsatlon and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the falr v81ue at the date of revaluation, as detemiined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impalrment losses. Intanglble assets acquired as part of a buslness comblnatlon are only recognlsed separately from goodwlll when they arlse from contr8Ctual or other legal dghts, are separable, the expected future economlc benefits are probable and the cost or value can be measured rellably. Amortl8atlon Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that 8sset as follows- Website 4% stralght line If there is an Indlcatlon that there has been a significant change in amortisaiion rate, useful life or residual value of an Intangible asset, the amortisation is revised prospectively to reflect the new estimates. Tanglble assets Tangible assets are initialty recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carrled at revalue amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 22
Our Kids Company Limitsd by Guarantee Notes to the Consolidatsd Financial Statsments (contlnued) Year ended 31 December 2023 Accounting policie8 (continued) Tangible assets (contlnuedj An increase in the carrying amount of an asset as a result of a revaluatlon, is recognised in other recognlsed gains and losses, unless it reverses a charge for impalrment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognlsed gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the ststement of financial activities. Depreclatlon Depreciats'on Is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Freehold Propety improvements Plant & ma¢hlnery In the subsldiaries only 15% reducing balance 150/0 stralght line 250/¢ reduclng balance 50h straight line Motor vehicles Solar panels No deprectation Is charged on Arrow Mill. as the bulldlng18 Stated at the tru8tee$ v81u811on. (See Investment property note below.) Investments Unllsted equity investments are InFtlally recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised In ncome or expenditure. Investment property Investment property is initially recorded at cost, whlch includes purchase price and any directly attributable expendlture. Investment property is revalued to its falr value at each reporting date and any changes in fair value are recognised in income or expenditure. If a rellable measure of fair value is no Jonger available for an Item of Investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impalrnient of flxed a8Bet8 A review for indicators of imp81rment is carried out at each reporting date, with the recoverable amount being estimated where such Indicators exist. Imiere the carrying value exceeds the recoverable amount, the asset is impalred accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. -23-
Our Kids Company Limited by Guarantee Notes to the Consolidated Financial Statsments (contlnuedj Year ended 31 December 2023 Accounting policies (eontlnuod) Impalmient of flxed assetg (conllnuedj For the purposes of impainnent testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is rnade of the recoverable amount of the cash-generating unit to which the asset belongs. The cash4Jenerating unit is the smallest identifiable group of assets that Includes the asset and generates cash inflows that largely independent of the cash Inflows from other assets or groups of assets. For impalrment testing of goodwill, the goodwill acquired In a buslness combination 18. from the acquisition date, allocated to each of the cash4Jenerating units that are expected to benefit from the synergies of the comblnation, irrespective of whether other assets or liabilities of the ch8rity 8re 8ssign8d to those units. Stocks Stocks are measur8d at the lower of cost and estimated selling price less costs to completè 8nd sell. Cost includes all costs of purchas8, costs of conversion and other costs incurred in bringing the stock to Its present Ioc8tlon and condition. Flnanclal Instruments A financlal asset or a flnanclal Ilability is recognised only when the charity becomes a party to the contractual provlsions of the Instrument. Baslc flnanclal Instruments are Initlally recognised at the amount recelvable or payable Including any related tr8ns8Ctlon costs. Current assets and current Ilabllltles are subsequently measured at the ¢ash or other consideration expected to be pald or received and not dlscounted. Debt Instruments are subsequenuy measured at amortised cost. lthere Investments In shares are publScty traded or thelr fair value can othemlse be measured reliably. the investment is subsequently measured at falr value with changes In fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of Interest that Is not a market rate, In whlch case the asset is measured at the present value of the future payments dlscounted at a market rate of Interest for a similar debt Instrument. other financial instruments are subsequently measured at fair value, with any changes recognlsed in the statement of financlal actlvltles, with the exception of hedging Instruments In 8 designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial g8in was recognised. 24
Our Kids Company Limitsd by Guarantee Notes to the Consolidated Financial Ststements (contlnued) Year anded 31 December 2023 Accountlng pollcles {contlnued) Flnanclal Instruments (¢ondnu8d) For all equity instruments regardless of significance, and other financi81 8ssets that are individually significant, these are assessed individually for impalrment. Other financial assets are either assessed individually or grouped on the basis of similar credlt r5sk characteristics. Any reversals of impairment are recognised Immediately, to the extent that the r8vensal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the Impairment not previously been recognised, Deflned contrlbutlon plan8 Contributions to defined contributlon plans are recognlsed as an expense In the period in which the related service is provlded. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction In future payments or a cash refund. hen contributions are not expected to be settled wholly within 12 months of the end of the reportlng date in which the employees render the related service, the liability Is measured on a discounted present value basis. The unwlnding of the discount is recognised as an expense in the period In which it arises. Llmlted by guarantee The charity is a prfvate company limlted by guarantee, registered In England and Wales and a reglstered charity In England and Wales. The address of the registered office is 2nd Floor, Parkgates, Bury New Road, Prestwlch, Manchester M25 OTL. In the event of the charity belng wound up, members are required to contrlbute an amount not exceeding £10. Donatlons and legaclo8 Unrestricted Total Fund8 Unrestricted Totsl Funds Funds 2023 Funds 2022 Donatlon8 Donatlons 16,620 16,620 31,910 31,910 Donatrons recelvable are wholly attrlbutable to the charity. Other tradlng actlvltle8 Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Arrow Mill Management Ltd Easygift Trading Ltd 638,541 638,541 647,721 647,721 16,007,247 16,007.247 13,412,997 13,412,997 16,645,788 16,645,788 14,060,718 14,060,718 25
Our Kids Company Limitsd by Guarantse Notes to the Consolidated Financlal Statements (eontinued) Year ended 31 December 2023 Costs of other tradlng activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Easyglft Trading Ltd Arrow Mlll Management Ltd 15,167,786 15,167,766 12,802,388 12,802,388 640,130 640,130 625,676 625,676 15,807,896 15,807,896 13,428,064 13,428,064 Expendlture on eharltable actlvltl88 by fund type Unrestricted Total Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 Charity costs Support costs 383,474 40,583 424,057 383,474 40,583 424,057 370,779 28,927 370,779 28,927 399,706 399,706 Expèndlturo on charltabl8 actlvltles by actlvlty type Activitles undertaken Grant funding directly of activitles Support Total fund8 Costs 2023 Totsl fund 2022 Charity costs Govemance costs 307,014 76,460 383,474 40,583 424.057 370,779 28,927 399,706 40,583 40,583 307,014 78,460 -26-
Our Kids Company Limitsd by Guarantee Notes to tho Consolidated Financial Statements (continued) Year ended 31 December 2023 10. Analysls of grants 2023 2022 Grants to Institutlons Asser Bishvil Foundation BCGCT Halberstadt British Friends of RC Ohr Chodosh Tshva Tree Life Club Bels Tefila Bels Chaya Rochel Amud Hatzdokoh Trust Diamond Care Ezra Care Sharehomes Yeshivas Lev Smlch Kolyom Trust Ahavas Chesed Trust Other grants under £1,000 per Institution Bels Chaya Jrrc Yeshiva Gedola Zichron Meir 1,080 2,500 9.770 2,280 3,000 13,860 5.030 4.000 4,000 4,000 4,000 3,760 3,000 2,390 2,288 2,200 2,000 2,000 1,600 1,480 9,276 7.710 300 1.700 530 11,240 2,000 3,800 6.000 5,000 70,770 51,024 Grant8 to Indlvlduals Relief of povety & educational grants Total gr8nts 5,690 76,460 1,496 52,520 11. Net Income Net income is stated after chargingl(crediting): 2023 2022 Amortisatlon of intanglble assets Depwlatlon of tanglble fixed assets 1,837 82,668 91,212 12. Audltor8 remuneratlon 2023 2022 Fees payable for tha audit of the consolidated financial statements 9.000 9,000 Fees payable to the auditor of the subsidiaries 11,500 11,500 -27-
Our Kids Company Llmited by Guarantee Note8 to the Consolldated Financlal Statements (¢ontlnuedJ Year anded 31 December 2023 13. Staff costs The totsl staff costs and employee benefits for the reporting period are analysed as follows: 2023 2022 Wages and salarl8S Soclal security costs Employer contributions to pension plans 1,232,820 69,021 18,513 1,318,154 1.202,723 66,989 18,066 1,287,778 The average head count of employees during the year was 46 {2022.' 54). The averag8 number of full-tlme equivalent employees during the year is analysed as follows.. 2023 No. 2022 No. Number of dlstrlbution staff - E8sygift Tradlng Ltd Number of admlnlstrative staff - Arrow Mill Management Ltd 36 10 10 46 54 No employee recelved employee benefits of more than £80,000 during the year (2022: Nil). 14. Trustee remuneratlon and.expen808 No remuneratlon or other benefits from employment with the charlty or a related entity were received or expen88s reimbursed by the trustees. 15. Intanglble a88et$ Wobslte Cost Addition$ 44.125 44,125 At 31 December 2023 Amortlsatlon Charge for the year At 310ecemb8r 2023 1,837 1,837 Carrylng amount At 31 December 2023 42,288 At 31 December 2022 28
Our Klds Company Limitsd by Guarantee Notes to the Consolidated Financial Statements (conllnuadj Year ended 31 December 2023 16. Tanglble flxed assets Land and Plant and Fixtures and buildlngs machinery fittings Motor vehides So18r Panels Total Cost At 1 Jan 2023 Additions 2,855,689 293,186 702,322 42,673 744,995 31,541 150,000 4,032,738 42,673 150,000 4,075AI1 At 31 Dec 2023 Depreclatlon At 1 Jan 2023 Charge for thg year At 31 Dec 2023 Carrylng amount At 31 Dec 2023 At 31 Dec 2022 2,855,689 293,186 31,541 80,324 244,933 372,944 26,233 7,500 731,934 4,769 85,093 16,560 261,493 52,507 425,451 1,332 7,500 15,000 82,668 814,602 27,565 2,770.596 2,775,365 31,693 48,253 319,544 329,378 3,976 5,308 135,000 3,260,809 142,500 3,300.804 The freehold propety, Arrow Mill, was extemally revalued on 9th August 2017. The valuatlon was carried out by JJL Sunieyors, on behalf of Santander PIC (the mortgage provlder of the charity). Per the trustees this represents a fair value of the freehold propety. The net book value of fixed assets Include £376,495 (2022 £359,409) attributable to the subsidiarles, the remaining value is attributsble to the charity. 17. Inve8tments Inve8tment propertles C08t or valuatlon At 1 January 2023 and 31 December 2023 Impalmient At l January 2023 and 31 December 2023 Carrylng amount At 31 December 2023 At 31 December 2022 2,875 2,875 2,875 All Investments shown above are held at valuatlon. 18. Stock8 2023 2022 Raw materSals and consumables 4,791,659 4,650,761 All stocks are attrlbutable to the subsidiaries of the charlty. 29
Our Kids Company Limited by Guarantse Notes to the Consolldatsd Financial Statements (continued) Year ended 31 December 2023 19. Debtors 2023 2022 Trade debto Prepayments and accrued income other debtors 991,685 160,907 424,226 1,576,818 661,689 209,023 308,140 1.178,852 Debtors include £1,269,178 (2022 £870,711) attributable to the subsldiaries of the parent charity. The remaining amount 18 8ttributable to the charity. 20. Credltor8: amounts falllng due wlthln one year 2023 2022 Bank loans and overdrafts Trade creditors AccNals and deferred income Social securlty and other taxes Obligations under finance leases and hlre purchase contracts Other creditors 1,522,101 1,421,857 271,682 750,729 25,000 27,904 4,019,273 1,235,841 867,487 247,261 573,167 25,000 86,653 3,035,409 Creditors falling due within one year include £3,880,454 (2022 £2,885,785> attributsble to the subsidiaries of the charity, the balance belng due by the charlty, 21. Credltors: amounts falllng due aft•r more than one year 2023 2022 Bank loans and overdrafts Obligations under finance leases and hire purchase contracts Other creditors 603,089 77,083 1,786,774 2,466,946 719,302 102,083 1,706,946 2,528,331 Creditors falllng due after more than one year include £1,279,532 {2022 £1,119,427) attributable to the subsidiaries of the charlty. The remainlng amount is due by the charity. Bank loans and overdrafts a secured against the property of the charity as well as a cross guarantee from the subsidiarles. 30
Our Kids Company Limitsd by Guarantee Notes to the Consolldatsd Financial Statements (¢ontlnuedJ Year ended 31 Dacember 2023 22. Finance leases and hire purchase contracts The total future minimum lease payments under finan leases and hire purchase contracts are as follows". 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years 25,000 77.083 102,083 25,000 102,083 127,083 23. Penslon8 and othar post retlremant beneflts Defined contrlbutlon plan8 The amount recognised in Income or expenditur8 as an expense In relation to defined ¢ontribution plans was £16,513 {2022'. £18,066). 24. Analy818 of charltable fund8 Unre8trfcted fund8 At 31 December 2023 At 1 January 2023 Income Expenditu General funds Revaluation serve 3,122,680 1,110,634 4,233,314 18,862,408 (16,231,953) 3,553,136 1,110,634 16,662.408 (18,231,953) 4,663.769 At 1 Janusry 20 22 At 31 December 2022 Income Expenditure 2,857,822 14,092,628 (13,827,770) 3.122,680 1,110.634 1,110,634 3,968,456 14.092,628 (13,827,770) 4,233,314 General funds Revaluation reserve 31
Our Kids Company Limited by Guarantse Notes to the Consolidated Financial Ststements (con&'nued) Year ended 31 December 2023 25. Analy818 of net awts between funds Unrestricted Total Funds Funds 2023 Intsngible assets Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 42,288 42,288 3.260,809 3,260.809 2,875 2.875 7,844,016 7,844,016 (4,019,273) (4,019,273) (2,466,946) (2,466,946) 4,663,769 4,663,769 Unrestricted Total Funds Funds 2022 Intsngible assets Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net a88ets 3,300,804 3,300,804 2,875 2,875 6,493,375 6,493,37S {3,035,409) (3,035,409) (2,528,331) {2,528,331) 4,233,314 4,233,314 26. Analy818 of changes In net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 663,762 811,777 1,476.539 (1,260,841) {286,260) (1,547,101) (821,385) 141,213 1680,172) {1,418,464) 666,730 (751,734) Cash at bank and in hand Debt due withln one year Debt due after one year 27. Related partles Mr S Rose. is a director and shareholder of Easygift Trading Llmited and another company Easygift Logistlcs Ltd. During the year, Easygrft Trading Ltd paid £722,330 (2022 £491,645) to Easygift Logistics Ltd for the provislon of key management personnel and staff. Thls was paid within a serViS agreement betsveen the two companies. Included within creditors greater than one year is an amount of £1,184,923 (2022 £1,019,818) owlng trom Easygift Trading Ltd to Easygift Logistics Ltd. Net assets of the 8ub81dlarl68 At the balan sheet date, the assets and liabilities of the subsldiaries were as follovts: Easygift Trading Ltd Assets £7,721,735 (2022 £6,384,192). and liabillties £5,234,861 (2022 £4.175,844). Arrow Mill Management Ltd - Assets £118,447 (2022 £136,249) and liabilities £127,663 (2022 £141,454). 32-
OUR KIDS CHARITY Notes to the unconsolldated financlal statemènts Year ended 31 December 2023 28. Tangible assets Freehold Fixtures, equipment Solar Panels propety Plant and machinery fittings and Total Cost At 1 Jan 2023 & 31 Dec 2023 2,762,267 104,587 40,310 150,000 3,057,164 Depreclatlon At 1 January 2023 Charge for the year At 31 Decembèr 2023 73,178 4,711 35,093 783 108,271 12,994 7,500 77,889 35,876 7,500 121,265 Carrylng amount At 31 December 2023 2,762,287 26,698 4,434 142,500 2,935,899 At 31 Dember 2022 2,762.267 31,409 5,217 150,000 2,948,893 29. Investments Shares in Other group Investments undertakings Total C08t At 1 January 2023 Additions 1,100,002 85,000 2,875 1,102,877 85,000 At 31 December 2023 1,185,002 2,875 1,187,877 Impalmient At 1 January 2023 and 31 Docomber 2023 Carrylng amount At 31 December 2023 1,185,002 2,875 1,187,877 At 310ecember 2022 1,100,002 2,875 1,102,877 Page 33
OUR KIDS CHARITY Notes to the unconsolldated flnanclal Statements (continued) Year ended 31 December 2023 30. Debtor¥ Amounts Owed by group undertaklngs Prepayments and accrued income Other debtors 2023 2022 222,538 248,538 3,548 308,140 307,640 530, 178 31. Credltor8: amounts falllng du8 wfthln on• yéar 560,226 Bank loans and overdrafts Accruals and deferred income Obligations under finan leases Other credltors 2023 2022 106,080 37,239 25,000 48,000 216,319 98,000 20,124 25,000 36,000 179,124 32. Credltor8.' amounts falllng due after more than ona year Bank loans and overdrafts Obligations under finance leases Other creditors 2023 2022 571,435 77,083 481,397 1,129,915 684,144 102,083 533,177 1,319,404 33. Related party tran8actlon8 Easygift Tradlng Ltd and Arrow Mill Management are 1000/0 Owned subsidiaries of Our Kids. During the year, Our Kids recelved rents totalling £250,000 (2022 £235,000) from Arrow Mlll Management Ltd for use of Arrow Mill. The charlty also received gift aid payments from Easygift Trading of £327,530 (2022 £518,549) and Arrow Mill Management Ltd of £44,896 (2022 £49,936 At the balance sheet date Our Kids was owed £222,538 (2022 £248,537 by Easyglft Tradlng Ltd. None of the above transactlonslbalances are included in the consolidated financial statements. Page 34