COMPANY REGISTRATION NUMBER: 06612121 CHARITY REGISTRATION NUMBER: 1124888
KENILWORTH LIONS LIMITED Company Limited by Guarantee Unaudited Financial Statements
30 June 2023
KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 7 |
KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 June 2023.
Reference and administrative details
Registered charity name KENILWORTH LIONS LIMITED Charity registration number 1124888 Company registration number 06612121 Principal office and registered John Price House office Farmer Ward Road Kenilworth Warwickshire CV8 2DH
The trustees
Mr R G Tyler Mr E J Curtis Mr C K Bailey Mr A D Cartwright Mr W Birkett Mr D Maxted Mr P Inshaw Mr B T Morris Mr T C P Lee Mr I K Pointon
Accountants
Chapman and Co Chartered Certified Accountants 28 Delaware Road Styvechale Coventry West Midlands CV3 6LX
Structure, governance and management
Kenilworth Lions Limited was incorporated on 5 June 2008. It is a company limited by guarantee as defined by the Companies Act 2006 whose members are fully paid up members of Kenilworth Lions CIO.
Objectives and activities
The overriding objective of the company is to support disadvantaged members of the community in Coventry and Warwickshire.
The main activity of the company is the collection and sale of donated furniture, white goods and other saleable items. Funds raised are then applied for the benefit of other organisations established for charitable purposes, principally Kenilworth Lions Club, who meet charitable needs in accordance with the guidelines of Lions Club International.
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 June 2023
Achievements and performance
Two vans continue to operate from the Farmer Ward Road premises collecting and delivering white goods. In addition we now receive contributions of furniture and bric-a-brac from donors directly to the store on Saturday mornings.
Sales of all goods enables the distribution of charitable funds to needy individuals and organisations in the Kenilworth area. Under a voucher scheme, donations of furniture and household items have been made to support refugees, clients of the local women’s refuge and those in need identified by other organisations. A special sale, well supported by the local community, was arranged in April with the proceeds going to Medics providing medical supplies for Ukraine.
Our furniture store has collected spectacles (for reuse in the third world) for many years. The recycling has now been extended to ‘difficult to recycle’ food packaging, bottle corks and desktop/laptop computers. This activity does not raise funds but reduces the amount of waste going to landfill, helping the environment.
The directors are grateful for the support of members of Kenilworth Lions Club and volunteers who run the furniture store, bazaar and donations table.
A Kenilworth School student has been attending as part of the Duke of Edinburgh scheme.
Financial review
Sales of donated furniture, white goods and bric-a-brac for the year to 30 June 2023 amounted to £87,341. Receipts from Warwickshire County Council for recycling of furniture were £2,348. Small cash donations from customers totalled £4,617 and £6,026 was claimed under the gift aid scheme.
A total of £73,890 was transferred to Kenilworth Lions CIO for charitable donations to needy causes for the year. In addition to this, numerous vouchers for items of furniture were given out to those in need under the umbrella of other organisations.
Reserves policy
The company directors intend to retain funds to develop ongoing business and for the replacement of one of the vehicles. We intend to maintain reserves of around £47,000 for the 2023/24 year for unforeseen expenditure.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 27 November 2023 and signed on behalf of the board of trustees by:
Mr I Pointon Director
Mr R G Tyler Director
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of KENILWORTH LIONS
LIMITED (continued)
Year ended 30 June 2023
I report on the financial statements for the year ended 30 June 2023, which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes.
Respective responsibilities 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 statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
to state whether particular matters have come to my attention.
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 next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006, and
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to prepare accounts which accord with the accounting records, 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
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of KENILWORTH LIONS LIMITED (continued)
Year ended 30 June 2023
John Chapman FCCA
CHAPMAN AND CO
Chartered Certified Accountants
28 Delaware Road Styvechale Coventry West Midlands CV3 6LX
27 November 2023
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
30 June 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Other trading activities | 5 | 87,341 | – | 87,341 | 76,879 |
| Donations and legacies | 6 | 10,642 | 4,000 | 14,642 | 2,879 |
| Investment income | 7 | 472 | – | 472 | 11 |
| Other income | 8 | 2,348 | – | 2,348 | 3,286 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 100,803 | 4,000 | 104,803 | 83,055 | |
| ================================ | ============================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 9 | 25,160 | 53 | 25,213 | 20,506 |
| Expenditure on charitable activities | 10 | 73,890 | - | 73,890 | 56,895 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 99,050 | 53 | 99,103 | 77,401 | |
| ================================ | ============================ | ================================ | ================================ | ||
| Net income and net movement in funds | 1,753 | 3,947 | 5,700 | 5,654 | |
| ================================ | ============================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 268,402 | - | 268,402 | 262,748 | |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 270,155 | 3,947 | 274,102 | 268,402 | |
| ========================================= | ================================ | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to Error! Bookmark not defined. form part of these financial statements.
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Statement of Financial Position
30 June 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible fixed assets | 15 | 201,255 | 205,617 |
| Current assets | |||
| Cash at bank and in hand | 72,847 | 62,785 | |
| ---------------------------- | ---------------------------- | ||
| Net current assets | 72,847 | 62,785 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 274,102 | 268,402 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 270,155 | 268,402 | |
| Restricted funds | 3,947 | - | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 16 | 274,102 ================================ |
268,402 ================================ |
For the year ending 30 June 2023 the charity 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 27 November 2023 and are signed on behalf of the board by:
Mr I Pointon Director
Mr R G Tyler Director
The notes on pages 7 to Error! Bookmark not defined. form part of these financial statements.
6
KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The charity is 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 John Price House, Farmer Ward Road, Kenilworth, Warwickshire, CV8 2DH.
2. Statement of compliance
These financial statements 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 Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
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 earmarked by the trustees for particular future project or commitment.
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 two sub-classes: restricted income funds or endowment funds.
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair 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 resale value. Donated facilities and services are recognised in the accounts when received 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 delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment 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 recognised 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 statement of financial activities.
Depreciation
Depreciation 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 property – over 50 years on a straight line basis Fixtures, fittings and equipment - over 4 years on a straight line basis Motor vehicles - over 4 years on a straight line basis
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating 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 impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
4. Limited by guarantee
The company is a company limited by guarantee not having a share capital. The liability of each member is limited to £1.
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
5. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Store takings | 87,341 | 87,341 | 76,879 | 76,879 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 6. | Donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations received | 10,642 | 4,000 | 14,642 | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 10,642 | 4,000 | 14,642 | |||
| ================================ | ============================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations received | 2,879 | - | 2,879 | ||
| -------------------------------- | ---------------------------- | -------------------------------- | |||
| 2,879 | - | 2,879 | |||
| ================================ | ============================ | ================================ | |||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank deposit interest | 472 | 472 | 11 | 11 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Recycling payments | 2,348 | 2,348 | 3,286 | 3,286 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 2,348 | 2,348 | 3,286 | 3,286 | ||
| ============================ | ============================ | ============================ | ============================ |
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
9. Costs of other trading activities
| Costs of other trading activities | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Store running costs – other | 15,586 | – | 15,586 |
| Store running costs - depreciation | 9,574 | 53 | 9,627 |
| -------------------------------- | ----------------------- | -------------------------------- | |
| 25,160 | 53 | 25,213 | |
| ================================ | ======================= | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Store running costs – other | 14,674 | – | 14,674 |
| Store running costs- depreciation | 5,832 | – | 5,832 |
| -------------------------------- | ----------------------- | -------------------------------- | |
| 20,506 | - | 20,506 | |
| ================================ | ======================= | ================================ |
10. Expenditure on charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | 73,890 | 73,890 | 56,895 | 56,895 |
| ============================ | ============================ | ============================ | ============================ |
11. Net income
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 9,625 ======================= |
5,832 ======================= |
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
12. Independent examination fees
| 2022 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 360 ============== |
360 ============== |
13. Staff costs
The company had no employees during the year.
14. Trustee remuneration and expenses
The directors of the company received no remuneration during the year.
15. Tangible fixed assets
| Freehold | Fixtures and | Motor | ||
|---|---|---|---|---|
| property | fittings | vehicles | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 July 2022 | 189,896 | 1,862 | 22,404 | 214,162 |
| Additions | 5,263 | - | - | 5,263 |
| Disposals | - | - | - | - |
| -------------------------------- | ----------------------- | ---------------------------- | -------------------------------- | |
| At 30 June 2023 | 195,159 | 1,862 | 22,404 | 219,425 |
| ================================ | ======================= | ============================ | ================================ | |
| Depreciation | ||||
| At 1 July 2022 | – | 1,544 | 7,001 | 8,545 |
| Charge for the year | 3,851 | 175 | 5,599 | 9,625 |
| Depreciation on disposals | – | - | - | - |
| -------------------------------- | ----------------------- | ---------------------------- | -------------------------------- | |
| At 30 June 2023 | 3,851 | 1,719 | 12,600 | 18,170 |
| ================================ | ======================= | ============================ | ================================ | |
| Carrying amount | ||||
| At 30 June 2023 | 191,308 | 143 | 9,804 | 201,255 |
| ================================ | ======================= | ============================ | ================================ | |
| At 30 June 2022 | 189,896 | 318 | 15,403 | 205,617 |
| ================================ | ======================= | ============================ | ================================ |
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KENILWORTH LIONS LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
16. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 July 2022 | Income | Expenditure | 30 Jun 2023 | |
| £ | £ | £ | £ | |
| General funds | 268,402 | 100,803 | (99,050) | 270,155 |
| ================================ | ============================ | ============================ | ================================ | |
| Restricted funds | ||||
| At | At | |||
| 1 July 2022 | Income | Expenditure | 30 Jun 2023 | |
| £ | £ | £ | £ | |
| Grant for awning | - ================================ |
4,000 ============================ |
(53) ============================ |
3,947 ================================ |
The grant for awning is expected to be fully written off by depreciation within 50 years.
17. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 197,308 | 3,947 | 201,255 |
| Current assets | 72,847 | - | 72,847 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| Net assets | 201,255 | 3,947 | 274,102 |
| ========================================= | ================================ | ========================================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 205,617 | - | 205,617 |
| Current assets | 62,785 | - | 62,785 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| Net assets | 268,402 | - | 268,402 |
| ========================================= | ================================ | ========================================= |
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