Registered Number: 07096961 Charity Number: 1120224 England & Wales
FREE THE CHILD (FTC)
Report of the Directors and Accounts
Period of accounts
Start date: 01 January 2024 End date: 31 December 2024
FREE THE CHILD (FTC) Contents Page For the year ended 31 December 2024
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Company information 3
Directors' report 4
Independent Examiners' report 5
Income statement 6
Statement of financial position 7
Notes to the financial statements 8
Detailed Income Statement 11
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FREE THE CHILD (FTC) Company Information For the year ended 31 December 2024
Directors Gladys Williams Charles Bertin Caroline Olaoye Registered Number 07096961 Registered Office 2 Colin Parade London NW9 6SG
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FREE THE CHILD (FTC) Directors' Report For the year ended 31 December 2024
Principal activities
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: 12 March 2025
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FREE THE CHILD (FTC)
Independent Examiners' Report For the year ended 31 December 2024
We report to the trustees on our examination of the accounts of the above charity (“the Trust”) for the year ended 31 December 2024.
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
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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 2024
.................................................... Gee Coopers LLP 5th Floor 48-54 Moorgate London EC2R 6EJ 12 March 2025
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FREE THE CHILD (FTC)
Statement Of Financial Activities For The Year Ended 31 December 2024
| Recommended categories by activity Notes Incoming resources Income and endowments from: Donations and Gift Aid 10 Charitable shop sales 11 Total Resources expended Expenditure on: Charitable activities - Other - Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted income funds £ Total Funds 2024 £ Total Funds 2023 £ 16,151 16,151 7,790 71,449 71,449 61,737 |
|---|---|
| 87,600 87,600 69,527 |
|
| 82,892 82,892 60,184 - - 261 |
|
| 82,892 82,892 60,445 |
|
| 4,708 4,708 9,082 4,708 4,708 9,082 |
|
| 4,708 4,708 9,082 15,673 15,673 16,910 |
|
| 20,381 20,381 25,992 |
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FREE THE CHILD (FTC) Statement of Financial Position As at 31 December 2024
| Notes Fixed assets Tangible fixed assets 5 Current assets Stocks 6 Debtors: amounts falling due within one year 7 Cash at bank and in hand Net current assets Total assets less current liabilities Net assets Funds of the Charity General Funds 13 Members' funds |
2024 £ 445 445 15,717 852 3,367 19,936 19,936 20,381 20,381 20,381 20,381 |
2023 £ 510 |
|---|---|---|
| 510 10,650 0 14,832 |
||
| 25,482 | ||
| 25,482 | ||
| 25,992 | ||
| 25,992 | ||
| 25,992 | ||
| 25,992 |
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.
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.
The financial statements were approved by the board of directors on 12 March 2025 and were signed on its behalf by:
Gladys Williams Director/ Trustee
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FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2024
General Information
FREE THE CHILD (FTC) is a private company, limited by guarantee, registered in England and Wales, and a registered Charity with respective registration numbers 07096961 and 1120224- 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 of charitable shop sales of goods and services supplied by donors, 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 estimated and 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.
overheads. |
|||
|---|---|---|---|
| 2024 | 2023 | ||
| 2. | Operating surplus/(deficit) The operating profit is stated after charging: |
£ | £ |
| Depreciation of tangible fixed assets | 65 | 64 |
3. Average number of employees
Average number of employees during the year was 3 (2023 : 3).
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FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2024
4. Interest payable and similar charges
| Bank & Other Loan Interest 5. Tangible fixed assets Cost or valuation At 01 January 2024 Additions Disposals At 31 December 2024 Depreciation At 01 January 2024 Charge for year On disposals At 31 December 2024 Net book values Closing balance as at 31 December 2024 Opening balance as at 01 January 2024 |
Fixtures and Fittings £ 2,000 - - 2,000 1,532 65 - 1,597 403 468 |
2024 £ 0 0 Computer Equipment £ 500 - - 500 458 - - 458 42 42 |
2023 £ 261 261 Total £ 2,500 - - |
|
|---|---|---|---|---|
| 2,500 | ||||
| 1,990 65 - |
||||
| 2,055 | ||||
| 445 | ||||
| 510 |
6. Stocks
Stocks
7. Debtors: amounts falling due within one year
Other Debtors
| 2024 £ 15,717 15,717 2024 £ 852 852 |
2023 £ 10,650 10,650 2023 £ - - |
|---|---|
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FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2024
8. Fund account
| Fund account | |
|---|---|
| Balance at 01 January 2024 Surplus for the year Balance at 31 December 2024 |
2024 £ 15,673 4,708 |
| 20,381 |
9. Company Limited by Guarantee
The company is limited by guarantee and therefore has no shares.
10. Income from Donations and Gift Aid
| Analysis Gift Aid Membership subscriptions and sponsorships which are in substance donations |
Restricted funds Unrestricted income funds Endowment funds Total funds 2024 Total funds 2023 £ £ £ £ £ - 16,161 - 16,151 7,790 - - - - - |
|---|---|
| - 16,151 - 16,151 7,790 |
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FREE THE CHILD (FTC) Notes to the Financial Statements For the year ended 31 December 2024
11. Income from Charitable Activities
| Analysis Sale of Good |
Restricted funds Unrestricted income funds Endowment funds Total funds 2024 Total funds 2023 £ £ £ £ £ - 71,449 - 71,449 61,737 |
|---|---|
| - 71,449 - 71,449 61,737 |
12. Expenditure on Charitable Activities
| £ | |||
|---|---|---|---|
| Charity management & | 20,035 | - | |
| administartio | |||
| Cost of services | 2,750 | - | |
| Employee costs | 54,652 | - | |
| Bank charges | - | - | |
| Donations | 4,000 | - | |
| Support Costs | 1,455 | - | |
| 82,892. | - |
13. Charity Funds Details of Material Funds held and Movement during the year
| Fund names Unrestricted income funds Total |
Fund balances brought forward Income Expenditure Transfers Gains and losses Fund balances carried forward £ £ £ £ £ £ |
|---|---|
| 15,673 87,600 (82,892) - - 20,381 |
|
| 15,673 87,600 (82,892) - - 20,381 |
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FREE THE CHILD (FTC) Detailed Income Statement For the year ended 31 December 2024
| Income Gift Aid and Donations Shop Sales Direct Resources Expended Opening Stock - Other Resale Closing Stock - Other Resale Rent Volunteer expenses Gross Income Cost of generating resources & Governance cost Wages & Salaries Pension Current Service Cost Accountancy Fees Professional Fees Rates & Water Light, Heat & Power Cleaning of Premises General Travel Expenses Depreciation Charge: Fixtures & Fittings Depreciation Charge: Computer Equipment Stationery & Postage Telephone, Fax & Internet Sundry Expenses Donations Operating Surplus Interest payable and similar charges Bank & Other Loan Interest Surplus/(Deficit) on ordinary activities before taxation Net Surplus/(Deficit) for the financial year |
10,650 (15,717) 17,894 2,950 |
2024 £ 16,151 71,449 87,600 (15,777) 71,823 (67,115) 4,708 - 4,708 4,708 |
7,904 (10,650) 17,315 6,625 |
2023 £ 7,790 61,737 |
|---|---|---|---|---|
| 69,527 (21,194) |
||||
| 54,252 400 450 3,808 929 1,053 768 257 65 - 20 682 431 4,000 |
36,356 - 700 1,870 - - - - 36 28 - - - - |
|||
| 48,333 (38,990) |
||||
| - | 261 | |||
| 9,343 (261) |
||||
| 9,082 | ||||
| 9,082 |
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