Registered Number : 07096961 Charity Number : 1120224
FREE THE CHILD (FTC)
Report of the Directors and Unaudited Financial Statements
Period of accounts
Start date: 01 January 2023
End date: 31 December 2023
FREE THE CHILD (FTC) Contents Page For the year ended 31 December 2023
| Company information | 3 |
|---|---|
| Directors' report | 4 |
| Independent Examiners' report | 5 |
| Income statement | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 9 |
| Detailed income statement | 12 |
2 of 12
FREE THE CHILD (FTC) Company Information For the year ended 31 December 2023
| Directors/Trustees | Gladys Williams |
|---|---|
| Charles Bertin | |
| Caroline Olaoye | |
| Registered Number | 07096961 |
| Charity Number | 1120224 |
| Registered Office | 2 Colin Parade |
| London | |
| NW9 6SG |
3 of 12
FREE THE CHILD (FTC) Directors' Report For the year ended 31 December 2023
Principal activities
The principal activity of the company during the financial year was that of providing support to disadvantaged children, through the operation of the charity.
This report was approved by the board and signed on its behalf by:
Gladys Williams Director
Date approved: 05 May 2024
4 of 12
FREE THE CHILD (FTC) Independent Examiners' Report For the year ended 31 December 2023
We report to the trustees on our examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2023.
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
We report in respect of our examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination. We have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
We have completed the examination, and can confirm that no material matters have come to our attention in connection with the examination which gives us cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn to enable a proper understanding of the accounts to be reached.
Gee Coopers LLP 31 December 2023
.................................................... Gee Coopers LLP 5th Floor 48-54 Moorgate London EC2R 6EJ 05 May 2024
5 of 12
FREE THE CHILD (FTC) Income Statement For the year ended 31 December 2023
| Incoming Resources Notes Resources Expended Gross Incoming resources Cost of generating fund and governance costs Net Incoming resources before transfer 2 Interest payable and similar charges 4 Net Incoming resources after transfers Transfers between funds Net funds for the financial year |
2023 £ 69,527 (51,300) 18,227 (8,884) 9,343 (261) 9,082 - 9,082 |
2022 £ 60,104 (46,652) |
|---|---|---|
| 13,452 (9,584) |
||
| 3,868 (213) |
||
| 3,655 - |
||
| 3,655 |
6 of 12
FREE THE CHILD (FTC) Statement of Financial Position As at 31 December 2023
| Fixed assets Notes Tangible fixed assets 5 Current assets Stocks 6 Debtors: amounts falling due within one year 7 Cash at bank and in hand Creditors: amount falling due within one year 8 Net current assets Total assets less current liabilities Net assets Funds of the Charity Special Reserves 9 Restricted Fund 10 Total Funds |
2023 £ 510 510 10,650 - 14,832 25,482 - 25,482 25,992 25,992 - 25,992 25,992 |
2022 £ 574 |
|---|---|---|
| 574 7,904 5,300 19,844 |
||
| 33,048 (450) |
||
| 32,598 | ||
| 33,172 | ||
| 33,172 | ||
| 12,607 20,565 |
||
| 33,172 |
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year 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 accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
7 of 12
FREE THE CHILD (FTC) Statement of Financial Position As at 31 December 2023
The financial statements were approved by the board of directors on 05 May 2024 and were signed on its behalf by:
Gladys Williams Director/Trustee
8 of 12
FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2023
General Information
FREE THE CHILD (FTC) is a private company, limited by guarantee, registered in England and Wales, registration number 07096961, registration address 2 Colin Parade, London, NW9 6SG.
The presentation currency is £ sterling.
1. Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. Operating Incoming Resources
| Operating Incoming Resources | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| The operating income is stated after charging: | ||
| Depreciation of tangible fixed assets | 64 | 86 |
9 of 12
FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2023
3. Average number of employees
Average number of employees during the year was 3 (2022 : 3).
4. Interest payable and similar charges
Bank & Other Loan Interest
| 2023 £ 261 261 |
2022 £ 213 213 |
|---|---|
5. Tangible fixed assets
| Cost or valuation At 01 January 2023 Additions Disposals At 31 December 2023 Depreciation At 01 January 2023 Charge for year On disposals At 31 December 2023 Net book values Closing balance as at 31 December 2023 Opening balance as at 01 January 2023 |
Fixtures and Fittings £ 2,000 - - 2,000 1,496 36 - 1,532 468 504 |
Computer Equipment £ 500 - - 500 430 28 - 458 42 70 |
Total £ 2,500 - - |
|---|---|---|---|
| 2,500 | |||
| 1,926 64 - |
|||
| 1,990 | |||
| 510 | |||
| 574 |
6. Stocks
Stocks
| 2023 £ 10,650 10,650 |
2022 £ 7,904 7,904 |
|---|---|
10 of 12
FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2023
7. Debtors: amounts falling due within one year
| Other Debtors 8. Creditors: amount falling due within one year Accrued Expenses 9. Special Reserves Special reserves b/fwd |
2023 £ 0 0 2023 £ - - 2023 £ - - |
2022 £ 5,300 5,300 2022 £ 450 450 2022 £ 12,607 12,607 |
|---|---|---|
10. Restricted Fund
| Balance at 01 January 2023 Net incoming resources for the year Balance at 31 December 2023 |
2023 £ 16,910 9,082 25,992 |
|---|---|
11. Company Limited by Guarantee
The company is limited by guarantee and therefore has no shares.
11 of 12
FREE THE CHILD (FTC) Detailed Income Statement For the year ended 31 December 2023
| Incoming Resources Gift Aid Shop Sales Other Income Direct Resources Expended Opening Stock - Other Resale Closing Stock - Other Resale Direct Wages & Salaries Rent Volunteer expenses Gross Incoming resources Cost of generating resources & Governance cost Wages & Salaries Accountancy Fees Professional Fees Motor and Travelling Expenses General Travel Expenses Depreciation Charge: Fixtures & Fittings Depreciation Charge: Computer Equipment Repairs & Renewals Telephone, Fax & Internet Sundry Expenses Net Incoming Resources Interest payable and similar charges Bank & Other Loan Interest Net incoming resources before transfers Fund for the financial year |
7,904 (10,650) 30,106 17,315 6,625 |
2023 £ 7,790 61,737 - 69,527 (51,300) 18,227 (8,884) 9,343 (261) 9,082 9,082 |
5,289 (7,904) 28,798 16,900 3,569 |
2022 £ 15,151 44,269 684 |
|---|---|---|---|---|
| 60,104 (46,652) |
||||
| 1,720 700 1,870 2,680 - 36 28 0 635 1,215 |
2,040 700 1,800 2,281 186 48 38 207 428 1,856 |
|||
| 13,452 (9,584) |
||||
| 261 | 213 | |||
| 3,868 (213) |
||||
| 3,655 | ||||
| 3,655 |
12 of 12