CHILDREN'S HOPE UK LIMITED (A Company limited by Guarantee) Report and Financial Ststements For The Year Ended 30 June 2024 Charity number 1111002 Company number 5521762 England and Wales
Children's Hope UK Limited (A company limited by guarantee) Financial Statements For the Year ended 30 June 2024 Contents Page Legal and administrative information Trustèes, report 2to3 Trustees responsibilities statement Independent Examinerfs Report Statetnent of financial activities Balance Sheet Notes forming part of the financial ststements 8t011
Children's Hope UK Limited Legal and Administrative Information For the Year ended 30 June 2024 Reference and Administrative Informatlon Charity Name: Children's Hope UK Limited Charity registration number.. 1111002 Company registralion number 5521762 Registered Office and operational address: 110- 112 Parkway Camden .London NW17AN Directors and trustees The direclors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows.. Trustees Mr Shafiqul Hassan Mrs Para Hamilton Company Secretary Mr Ishtiaque Hassan Bankers HSBC PIC Accountants Vincent Chia & Co Chartered Certified Accountants 359 Hendon Way London NW4 3LY Page 1
Children's Hope UK Llmited Trustees Report for the year ended 30 June 2024 The Trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report togetherwith the Financial Statements of Childrens Hope Charity {the company) for the year ended 30 June 2024. The Trustees confirm that the Annual Report and Financial Staternents of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended practice (SORP) "Accounting and Reporting by Charities issued in 2015, Structure,Governance and Management Governing Document The organisation is a charitable company limited by guarantee, incorporated on 28 July 2005 and registered as a charity on 23 August 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is govemed under the Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Risk Management The Trustees has conducted a review of the major risks to which the charity is exposed. Where appropriate,systems or procedures have been established to Mitigate the risks the charity faces. External risks to funding are not deemed to be significant. Internal control risks are minimised by the implementation of procedures for all transactions and projects. Oiganisational Structure The Trustees of 2 merllbers are responsible for the strategic direction and policy of the Charity. Related Parties None. Page 2
Children's Hope UK Limited Trustees Report for the year ended 30 June 2024 Objectives and Activities The company's objects and principal activities are to provide donation to Children's Hope Bangladesh (regislered charity in Bangladesh) in order to: advance and organise education and training programmes for underprivileged children in Bangladesh. advance healthcare for all sponsored children and their families in Bangladesh. relieve poverty by setting up post-education placement schernes for qualified pupils in Bangladesh set up community projects to help develop small business opportunities in Bangladesh. Achievements and Performance The main area of charitable activity is to raise funds for remittance to Children's Hope, Bangladesh. During the year under review amounts remitted totalled £104.100 (2023 - £65,300). Financial Review Principal Funding Sources The principal funding sources for the charity are currently by way of donations from Echo Sourcing Ltd , I W McGeoch. Investment Policy As most of the charity's funds are to be spent in the short term, the Trustees has decided that there is no requirement for long term investment. A bank current & deposit account is considered sufficient for the presenL Reserves Policy The Trustees has examined the charity's requirements for reserves in light of the main risks to the organisation. Working capital is not significant and it is not deemed necessary to hold any funds in reserves. Plans for Future Period The charity plans to continue the activities outlined atK)ve in the forthcoming years subject to satisfactory funding arrangements. We are grateful to all our supporters , those who give one off and regular donations. We would like to thank everyone who has given generously of their money. The report was approved by the Trustees and signed on their behalf Mr S Hassan Date Page 3
Children's Hope UK Limlted Trustees. Resonsibilities Statement For The Year Ended 30 June 2024 The Trustees (who are also the directors of Children's Hope for the purposes of company law} are responsible for preparing the Trustees, report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Piactice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of state of affairs of the charitable company as at balance sheet date and of the incoming resources and application of resources, including the income and expendilure, for the financial year. In preparing the financial statements , the Trustees are required to= select Sultable accounting FX)licies 2nd apply them consistently", observe the methods and principles of the Charities SORP make judgements and accounting estimates that are reasonable and prudent" prepare the financial statements on a going concem basis unless it is inappropriate to assume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financi21 position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable compamy and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
Children's Hope UK Limited Independent Examiner's Report For The Year Ended 30 June 2024 Independent Examiner's Report to the Trustees of Children's Hope UK Limited I report on the financial statements of the Charity for the year ended 30 June 2024, which are set out on pages 6 to 11. This report is made solely to the company's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under sction 154 of that Act. My work has been undertaken so that l Might state to the company's Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent pemiitted by law, I do not acccept or assume reponsibility to anyone other than the company and the companls Trustees as a body, for my work or for this report. The financial statements have been prepad in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financi21 Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities". Sfatement of Recommended Practice issued on 1 April 2005 which is referred to in the extanl regulations but has been withdrawn. Respective Sponsibl11t1es of trustees and examiner The Trustees who are also the directors of the company for the purposes of company law are responsible for the preparation of the financial ststements. The Trustees consider that an audil is not required for this year under sects'on 144{2) of the Chartties Act 2011 (the Act) and that an independent examination is needed. Having satisfied myself that the company is not subject to audit under charity or company law , and is eligible for independent examination, it is my responsibility to= examine the financial statements under section 145 of the Act follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5){b) of the Act and stste whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kepl by the charity and a comparison of the financial statemenis presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The prOdureS undertaken do not provide all the evidence that would be required in an audit. and ¢onsequently.no opinion is given as to whether the financial statemnets present a 'true and fair view, and the report is limited to those matters Set out in the next statement. Page 5
Chlldren's Hope UK Limited Independent Examlnerfs Report contlnued Independent examinerfs statement In connection with my examination, no matter has come to my attention.. which gives me reasonable cause to believe tha( in any material respect. the requirements; to keep accounting records in accordance wilh s386 of the Companies Act 2006., and lo prepare financial statemenls which accord with the accounting records Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) and in other respecls Comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. have not been met '. or to which. in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. There are no siginificant matters to report for the year ended 30 June 2024 Vincent Chia & Co Chartered Certified Accountants 359 Hendon Way London NW4 3LY Page 5A
Children's Hope UK Limited statement of Financial Activities incorporating Income & Expenditure Account for the year ended 30 June 2024 Unrestricted funds 2024 Total funds 2023 Notes Incoming resources Incoming resources from generated funds Voluntary incom8 Donations Activities for generating funds Investment income 156,814 156.359 1.492 933 Total incoming resources 158,306 157,292 Resources expended Gosts of generating funds Costs of generating voluntary income Charitable activities 104,402 65.705 Governance costs 420 420 Total resources expended 104.822 66,125 Net resourcesl(expended) 53,484 91.167 Reconciliation of funds Total funds brought forward 556,307 465,140 Total funds carried forward 609,791 556,307 The statement of financial activities includes all gains and lossess in the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 8 to 11 form part of these financial statements Page 6
Children's Hope UK Lim5ted Notes fom)Ing part of the Flnanclal Statements 4or the year ended 30 June 2024 Accounting pollcles General information la) Children's Hope Charity is a private limited company by guarantee without share capital and incorporated in England. Its registered office is 110 -112 Parkway Camden London NW1 7AN. Basis of preparation of financial statements The financial statements have been prepared in accordance with 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) (effeclive 1 January 2015) - (Charities SORP (FRS 1 D2). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ( ¢ ) Reconciliation with previously Generally Accepted Acccounting Practice In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items were required. Following the transition to FRS 102 for the first time in 2017 all of the accounting policies have been aligned wilh the new accounting standard and where these have resulted in a material change to the accounts, classification or presentation within the financial statements a5 at Ihe date of transition, then a transitional adjustment has been made. There were no material changes to note. I d } Company status The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up. th8 liability in respect of the guarantee is limited to £1 per member of the company. { e ) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. (f) Incoming resources All incoming resources are included in the statement of financial actNities when the charily is entitled to the income and the amount can be quankn'fied with reasonable accuracy. The following specific policies are applied to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in full in the Slatement of Financial Activities when receivable. Grants. where entillement is not conditional on Ihe delivery of a specific perfomianGe by the charity. are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this Can be quanlified. Investment income is included when receivable. Page 8
Children's Hope UK Limited Notes formlng part of the Financial Statements for the year ended 30 June 2024 ( g ) Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates= Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees and cosls linked to the strategic management of the charity All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. ( h ) Cash flow The company has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statement on Ihe grounds that it is a small charitable company. 2 Donations 2024 2023 Individuals Corporate Gift aid 25,200 131.614 25,200 131,159 156,814 156,359 3 Investment Income 2024 2023 Interest receivable on bank deposits 1.492 933 Page 9
Children's Hope UK Limited Notes forming part of the Financial Statements for the year ended 30 June 2024 4 Totsl Resources Expended Basis of Charitable Voluntary Governance allocation activity income 2024 Total 2023 Total Costs directly allocaled to activitirs Funds remitted Direct 104.100 104,100 65,300 Travel & accommodation Direct Fund raising charges Website Direct Direct go 90 216 Support costs allocated to activities General office Staff Usage Time Bookkeeping Time 420 420 360 Bank charges Sundry Trans- actions 212 212 189 60 104.402 420 104,822 66,125 5 Staff Costs and Number Staff costs were as follows: 2024 2023 Salaries & wages Social security costs Total The average number of employees during the year. calculated on the basis of full-time equivalents was as follows: 2024 Number 2023 Number Administration and support During the year , no Trustees received any remuneration {2023 - £Nil) During the year , no Twstees received any benefits in kind {2023 - £Nil) During the year , no Trustees received any reimbursement of expenses (2023 - £Nil) Page 10
Children's Hope UK Limited Notes forming part of the Financial Statements for the year ended 30 June 2024 6 Accountants. Remuneration The Independent Examinerfs remuneration fee for the year was £Nil. (2023 - £Nil) 7 Taxation As a charity, Children's Hope UK Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. 8 Creditors: Amounts Falling Due within One Year 2024 2023 other taxes and social security costs other creditors and accruals 420 420 360 360 9 Analysis of Net Assets Beteween Funds 2024 General Funds 610,211 {420) 609,791 2023 General Funds 556,667 (360) 556,307 Current assets Current liabililies Net assets at 30 June 2024 10 Movement in Funds At Incomlng Outgoing At 1 July Resources Resources 30 June 2023 2024 Unrestricted funds General funds 556.307 158,3 (104.822 609,791 11 Related Party Transactions No transactions with related parties took place in the year. 12 Controlling party During the year . the charity was under the control of the Trustees. Page11