Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
Charity No: 1116081 Company Registration No: 05804261 (England and Wales)
HFC Help for Children UK Ltd
Annual report and financial statements For the year ended 31 December 2024
Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd Contents
| Page | |
|---|---|
| Legal and administrative information | 3 |
| Directors’ report | 4 |
| Independent examiner’s report to the trustees | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Cash flow statement | 10 |
| Notes to the financial statements | 11 |
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Legal and administrative information
| Directors | Damon Ambrosini | |
|---|---|---|
| Matthew Bloomfield | ||
| Lucy Churchill | ||
| Simon David Coombes | ||
| Ashley Fuller | ||
| Christopher Gardner | ||
| Greg Gliner | ||
| Malcolm Goddard | ||
| Sara Hall | ||
| Rachel Harbers | ||
| Robert Hughes | ||
| Jack Inglis | ||
| Jonathan May | ||
| Michael Meritt-Homes | ||
| Louise Mourgues | ||
| Jonathan Napora | (Resigned 22 October 2024) | |
| Darko Petrovic | ||
| Melanie Pittas | (Resigned 14 May 2024) | |
| Robert Schultz | ||
| Catherine Streeter | ||
| Kate Dos Santos | (Appointed 14 May 2024) | |
| Independent Examiner | Helen Wilkie FCA DChA | |
| Saffery LLP | ||
| 71 Queen Victoria Street | ||
| London | ||
| EC4V 4BE | ||
| Registered Office | AIMA | |
| 167 Fleet Street | ||
| London | ||
| EC4A 2EA | ||
| Company Registration | ||
| Number | 05804261 | |
| Charity Number | 1116081 | |
| Bankers | Santander UK Plc | |
| Bridle Road | ||
| Bootle | ||
| Merseyside | ||
| L30 4GB |
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Directors’ report For the year ended 31 December 2024
The Directors present their annual report and the financial statements of HFC Help for Children UK Ltd (“the Charitable Company”) for the year ended 31 December 2024.
The financial statements comply with the Companies Act 2006, Charities Act 2011, the Memorandum and Articles of Association of the Charitable Company and the Statement of Recommend Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102).
Structure, governance and management
Constitution
The Charitable Company was incorporated on 3 May 2007 and began activities on the same date. The Charitable Company is governed by its Memorandum and Articles of Association and the Companies Act 2006. The Charitable Company is a company limited by guarantee.
Directors
The Directors, who are also the Trustees of the Charitable Company for the purposes of charity law, met six times during the period to discuss matters of a strategic and administrative nature.
The power to appoint new Directors is vested in the existing Directors of the Charitable Company. There is an informal interview and induction process for any new Director. The Board is organised into a number of sub-committees to increase governance of the Charitable Company. The sub-committees comprise of Finance, Event Planning, Grant Making and Profile.
The Directors who served during the year and up to the date of this report are shown on page 3.
Risk review
The major strategic, business and operational risks which the Charitable Company faces are under continuous review by the Directors who take steps to ensure that they are managed appropriately. Detailed governance is delegated to sub-committees; Strategy and governance, Finance, Marketing and Event Planning, Grant Making and Profile. The leadership of the various sub-committees provide reports to the Directors at Board meetings for awareness, debate and approval.
Connected parties
The Charitable Company is part of a global network of affiliated charities. Three Directors of the Charitable Company are also Directors of Hedge Funds Care US. Hedge Funds Care US provides administrative support services as described in note 10 of the accounts. The Charitable Company is not controlled by any of the affiliates.
Objectives and activities
Objects
The object of the Charitable Company is to support efforts to prevent and treat child abuse in the United Kingdom. The Charitable Company raises awareness and funds for deployment within the alternative investment fund management industry. Through its fundraising events, the Charitable Company grants the funds raised at each event within the local region to organisations selected and evaluated on the basis of their ability to address child abuse.
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Directors’ report For the year ended 31 December 2024
Review of activities
The Charitable Company’s principal objectives are:
• the provision of grants to organisations that support efforts to prevent and treat child abuse in the UK.
- the promotion of awareness of child abuse through fundraising events held in the UK.
Achievements
Grants totalling £148,675 (2023: £155,600) have been made in the year.
The Charitable Company is affiliated with the global organization Hedge Funds Care Inc.
Grant making policy
The Directors consider and solicit grant applications in furtherance of the Charitable Company’s objects. Grant applications for funds are considered with the assistance of a consultant. Applicants are identified by either previously being known to the Charitable Company or applying through the Charitable Company’s website. If applying through the website, a screening process occurs to ensure the applicant meets the Charitable Company’s objectives in order to be considered further. Applicants are then invited to present to the Grant Making sub-committee with successful applicants being reviewed further by the subcommittee and external consultant before being approved by the Board.
The Directors confirm that they have had regard to the Charity Commission’s guidance on public benefit in setting and monitoring the objectives of the Charity and conform with the Charities Act’s definition of a Charity meeting all elements of the two key principles (being the benefit aspect and the public aspect).
Financial review
The net income in the year was £41,798 (2023: net expenditure £50,161) as shown in the statement of financial activities on page 8. It is the intention of the Directors to maintain cash resources at a level which allows fundraising events to be held and to use the interest received, together with the fundraising income, to make grants to projects related to the objects of the Charitable Company as outlined above.
Reserves policy
The level of general unrestricted funds at 31 December 2024 of £248,948 (2023: £207,150) was considered adequate to cover general expenditure. The Directors have reviewed the Charitable Company’s areas of activity and in the circumstances have retained sufficient funds to cover anticipated costs.
The Directors evaluated the general Reserves policy. It was agreed amongst the Directors that a flexible reserve policy is used in order to continue operations, arrange events to raise funds and normalize grant making for each annual cycle, taking into account the risk that funding is disrupted.
At 31 December 2024 cash at bank totalled £295,944 (2023: £151,380). This represents the surplus of fund raising activities in 2024 which will be used to run operations, complete the 2024 Grant Cycle, fund the 2025 Grant Cycle and the first part of 2025 events.
Having reviewed the Charitable Company’s cash flow forecasts and financial position, and considered the impact on going concern, the Directors have concluded that the going concern basis remains appropriate in the preparation of these financial statements.
Investment policy
Cash continues to be required to fund grants and future events. As such any surplus resources are held as cash.
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Directors’ report For the year ended 31 December 2024
Future plans
The Charitable Company will continue to run fundraising events in 2025. This includes the annual gala, and physical challenge and summer event. The Directors will use the funds raised to continue grant making.
Statement of Directors’ Responsibilities
The Directors (who are also Trustees of HFC Help for Children UK Ltd for the purposes of charity law) are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that period.
In preparing these financial statements, the Directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
16 September 2025
Approved by order of the Board and authorised for issue on ……………….…..2025 and signed on its behalf by:
E Si,FF5FDF156F744C5...tgnedd by:by | 5C10E9A9EC284F5...DocuSigned by: [3Sitgnedd by:by Damon A. Ambrosini Malcolm Goddard Jack Inglis Director Director Director
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Independent Examiner’s report to the trustees of HFC Help for Children UK Ltd (‘the Charitable Company’) For the year ended 31 December 2024
I report to the charity trustees on my examination of the accounts of the Charitable Company for the year ended 31 December 2024.
Respective responsibilities of trustees and examiner
As the charity’s trustees of the Charitable Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Charitable Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Basis of independent examiner’s 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 kept by the charity and a comparison of the accounts 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 procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
Since the Charitable Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charitable Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Helen Wilkie FCA DChA 2025 25 September 2025 Saffery LLP FBOACB3C879C4F4... 71 Queen Victoria Street, London, EC4V 4BE
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 December 2024
| Notes Income Donations Fundraising events 2 Investment income 3 Total income Expenditure Raising Funds 6 Charitable activities: Grant making 5 Total expenditure Net income for the year and net movement in funds 9 Total funds brought forward Total funds carried forward 9 |
2024 £ 158,661 319,706 17 478,384 223,554 213,032 436,586 41,798 207,150 248,948 |
2023 £ 244,498 237,689 2 |
|---|---|---|
| 482,189 | ||
| 225,247 206,781 |
||
| 432,028 | ||
| 50,161 156,989 |
||
| 207,150 |
All recognised gains and losses are included in the statement of financial activities.
The results for the year all relate to continuing activities.
The notes on pages 11 to 15 form part of these financial statements.
All the above income is unrestricted.
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Balance sheet As at 31 December 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Current assets | |||
| Debtors | 7 | 85,984 | 145,393 |
| Cash at bank | 295,944 | 151,380 | |
| 381,928 | 296,773 | ||
| Current liabilities | |||
| Creditors | 8 | (132,980) | (89,623) |
| Net current assets | 248,948 | 207,150 | |
| Net assets | 248,948 | 207,150 | |
| Reserves | |||
| Unrestricted general fund | 248,948 | 207,150 | |
| Net funds | 248,948 | 207,150 |
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
-
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476
-
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements
These financial statements have been prepared in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006.
The notes on pages 11 to 15 form part of these financial statements.
Approved by the board and authorised for issue on 16 September 2025 2025 and signed on its behalf by:
[Dane …………………………………. FFSFDF156F744C6... by: [ Malle …………………………………. DocuSigned by:Co [ace …………………………………. 51E2B3AECD57466... by: Damon A. Ambrosini Malcolm Goddard Jack Inglis Director Director Director
Company Registration No: 05804261 (England and Wales)
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Cash flow statement For the year ended 31 December 2024
| 2024 Notes £ Net cash flow from operating activities 144,547 Cash flows from investing activities Investment income 17 Movement in cash 144,564 Cash brought forward 151,380 Cash carried forward 295,944 Notes to the cash flow statement 1. Reconciliation of net expenditure to net cash flow from operating activities 2024 £ Net income 41,798 Less investment income (17) Decrease/(increase) in debtors 59,409 Increase/(decrease) in creditors 43,357 Net cash from operations 144,547 2. Analysis of changes in net debt At 1 January 2024 £ Cash flows Cash 151,380 144,564 Total 151,380 144,564 |
2023 £ 16,483 2 |
|
|---|---|---|
| 16,485 134,895 |
||
| 151,380 | ||
| 2023 £ 50,161 (2) (1,093) (32,583) |
||
| 16,483 | ||
| At 31 December 2024 £ 295,944 |
||
| 295,944 |
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Notes to the financial statements For the year ended 31 December 2024
1. Accounting policies
HFC Help for Children UK Ltd is a company limited by guarantee, incorporated in England and Wales. The registered office is AIMA, 167 Fleet Street, London, EC4A 2EA.
The principal accounting policies, all of which have been applied consistently throughout the period are set out below.
- 1.1. Basis of accounting
The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice (UK GAAP).
The Charitable Company constitutes a public benefit entity as defined by FRS102.
The financial statements are prepared in sterling, which is the functional currency of the Charitable Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
- 1.2. Going concern
At the time of approving the financial statements, the Directors have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
- 1.3. Fund accounting
The unrestricted fund is available for use at the discretion of the Directors in furtherance of the general objectives of the Charitable Company.
1.4. Income
All income is accounted for on a receivable basis, other than donations which are recognised when received.
1.5. Expenditure
Costs of generating funds comprise the costs incurred by the Charitable Company in generating fundraising income. Costs of charitable activities comprise grants related to the furtherance of the Charitable Company’s charitable objectives. These are recorded by the Charitable Company upon notification to the grant recipient following approval by the Directors. This includes costs that can be allocated directly to such activities and those of an indirect nature necessary to support them. Fees to a specialist consultant to assist with event organisation and development activities are included in cost of generating funds.
Governance costs include costs associated with meeting the constitutional and statutory requirements of the Charitable Company and include fees for the independent examination or audit.
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Notes to the financial statements For the year ended 31 December 2024
Irrecoverable VAT is expensed as incurred.
1.6. Taxation
HFC Help for Children UK Ltd is registered as a charity with the Charity Commission. On the basis that income is from wholly charitable activities and is applied for charitable purposes, no provision has been made for corporation tax.
1.7. Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing at that date or, if appropriate, at the forward contract rate. Any exchange differences are included in the statement of financial activities.
- 1.8. Financial instruments
The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and provisions are recognised where the Charitable Company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
- 1.9. Critical accounting judgements and estimates
In the application of the Charitable Company’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
In the opinion of the Directors, the financial statements contain no estimates with a significant risk of causing a material adjustment to the carrying values of assets and liabilities within the next financial year.
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Notes to the financial statements (continued) For the year ended 31 December 2024
| 2. Fundraising events Ticket sales Auctions and raffles 3. Investment income Interest and other income 4. Net income for the year is stated after charging Independent examiner’s remuneration including VAT: For the independent examination For the preparation of the accounts |
2024 £ 251,532 68,174 319,706 2024 £ 17 17 2024 £ 5,220 684 |
2023 £ 201,354 36,335 |
|---|---|---|
| 237,689 | ||
| 2023 £ 2 |
||
| 2 | ||
| 2023 £ 5,040 684 |
The Directors of the Charitable Company received no remuneration or reimbursed expenses from the Charitable Company during the year (2023: £nil).
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Notes to the financial statements (continued) For the year ended 31 December 2024
5. Charitable activities - Grants paid
| The amounts payable and paid in the year comprise: Dandelion Time Cambridge Acorn Project Kids Inspire Marie Collins Foundation Redthread Youth Limited Safer London Let Me Know The For Baby’s Sake Support Costs Recharged overheads (note 10) Other overheads FX loss Grant making travel expenses Governance costs Professional fees |
2024 £ 30,000 - 30,000 - 15,000 30,000 28,675 15,000 57,797 340 15 122 6,083 213,032 |
2023 £ 30,000 20,000 27,600 24,000 24,000 30,000 - - 44,826 322 67 - 5,966 |
|---|---|---|
| 206,781 |
During the year the Charitable Company employed no members of staff (2023: none).
6. Expenditure – Raising funds
| Event expenditure Bad debts 7. Debtors Trade debtors Prepayments and deposits Hedge Funds Care US |
2024 £ 213,554 10,000 223,554 2024 £ 85,984 - - 85,984 |
2023 £ 219,512 5,735 |
|---|---|---|
| 225,247 | ||
| 2023 £ 131,602 10,540 3,251 |
||
| 145,393 |
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Docusign Envelope ID: 4EF35EC1-683C-481D-A2BA-F60E7EBE6C9B
HFC Help for Children UK Ltd
Notes to the financial statements (continued) For the year ended 31 December 2024
| 8. Creditors Grants payable Deferred Revenue Accruals and other creditors Hedge Funds Care US Deferred income relates to an event that was rescheduled. 9. Movement in funds Current year Balance at 1 January 2024 Movement during the year Balance at 31 December 2024 Comparative year Balance at 1 January 2023 Movement during the year Balance at 31 December 2023 |
2024 £ 74,338 2,819 8,244 47,579 132,980 |
2023 £ 77,800 3,319 8,504 - 89,623 Unrestricted General Fund £ 207,150 41,798 |
2023 £ 77,800 3,319 8,504 - |
|---|---|---|---|
| 89,623 | |||
| 248,948 | |||
| Unrestricted General Fund £ 156,989 50,161 |
|||
| 207,150 |
10. Related Party Transactions
During the year the Charitable Company was recharged overheads and expenses from Hedge Funds Care US of £57,797 (2023: £44,826). This is in respect of administrative support provided by the US to the UK.
At the year end, a balance was due to Hedge Funds Care US of £47,579 (2023: a balance was due from Hedge Funds Care US of £3,251). Three of the Directors of Hedge Funds Care US are also Directors of HFC Help for Children UK Ltd.
A number of the Directors are employed by or owners of firms that are Global Sponsors of HFC Help for Children UK Ltd. During the year Directors gave £21,965 (2023: £67,986) and their respective firms gave £60,998 (2023: £50,118) through donations and purchasing of gala tickets.
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