OUR KIDS FOUNDATION
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024
COMPANY NUMBER: 7085647 CHARITY NUMBER: 1136276
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
CONTENTS |
Page |
|---|---|
| Legal and Administrative Information | 1-5 |
| Balance Sheet | 6 |
| Statement of Financial Activities | 7 -8 |
| Notes forming part of the Financial Statements | 9-11 |
| Independent Examiner’s Report | 12 |
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE BOARD OF TRUSTEES FROM 1[ST] JANUARY TO 31 DECEMBER 2024
The Board of Trustees presents its report and unaudited financial statements for the year ended 31 December 2024.
REFERENCE AND ADMINISTRATIVE INFORMATION
Company / Charity Name OUR KIDS FOUNDATION Company registration Number 7085647 Charity registration number 1136276 Registered Office and operational Address 447 Staines Road West Ashford TW15 2AB
Directors & Trustees S Memic D Kulas (Treasurer) L Kulas S Coric R Wiltshire (Chair) F Nowell Bankers HSBC 47 Church Road Ashford TW15 2UA Independent Examiner Romero Tayong FCCA Reading RG7 1FE
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 24[th] November 2009 and registered as a charity in 2010. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association. The directors of the company are called “Trustees”, and the company is called “the Charity” in its Memorandum and Articles of Association and in this Report and the Financial Statements, as well as “directors” and “the company”. In the event of the company being wound up the members (who are the same as the Trustees) are required to contribute an amount not exceeding £10.
Recruitment and Appointment of Trustees
Trustees are recruited primarily from individuals who by way of active participation and involvement have an interest in the growth and development of the Charity. These individuals are interviewed by the Trustees and elected by a vote (historically unanimous), either at the AGM or as an item in the agenda of the regular meetings of the trustees.
Trustee Induction and Training
Trustees are inducted by way of an introduction to the Charity by one of the Trustees and provided with information on the role of a trustee. Periodic training sessions are provided to the Board of Trustees as a whole.
Risk Management
The Trustees actively review, on a regular basis, the risk which the Charity faces and will endeavour to maintain the reserve levels around its current figure. The review of the controls of the financial systems will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.
Organisational Structure
The Trustees have overall authority for the Charity, determining its strategic direction and ensuring the Charity complies both with company and charity laws. Under the operating name, “OUR KIDS”, the charity is dedicated to the prevention and relief of poverty of the children of Bosnia and Herzegovina. The charity is concerned with the preservation and protection of good health, relief of sickness and advancing the education of the children in Bosnia and Herzegovina; in particular but not exclusively by supporting the Egipatsko Selo children’s home in Mostar.
We aim to help to remove barriers that disadvantage communities and prevent them from achieving their full potential. Through training and education, we hope to equip the current
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES
generation with the skills and tools that will make them self-reliant and self-sufficient as well as encouraging them to become trainers and educators of future generations.
The charity aims to improve the quality of children’s lives through the following:
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Providing funds, clothing and goods
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Improvement of facilities
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Arranging activities
FINANCIAL REVIEW
Our funding this year came from the following sources: London Community Events, The Heathland School, gifts and donations.
Reserves policy
We have a policy of maintaining six months overhead expenditure, to which we have kept this year.
Responsibilities of the Trustees
Company and Charity laws require the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and:
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Select suitable accounting policies and then apply them consistently;
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Make judgements and estimates that are reasonable and prudent;
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State whether the policies adopted are in accordance with the Charities SORP and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and
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Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue in operation.
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the Charity and enable the Trustees to Ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
We, the Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 3.
In accordance with company law, as the company’s directors, we certify that:
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So far as we are aware, there is no relevant audit information of which the company’s accountant is unaware: and
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We have taken all steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the company’s accountant, in preparing for us the financial statements that follow is aware of that information
Review and Results
The Trustees report net incoming resources of £29,018 (2023: £9,515) on operations for the year under review, £186 (2023: £1,320) on restricted funds, and net incoming resources of £28,832 (2023: £8,195) on unrestricted funds.
Balance Sheet
Details of the major items on the balance sheet can be found in the notes to the accounts.
The fluctuations in debtors and creditors year on year are purely the result of the timing of receipts and payment around the year-end.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of the Companies Act 2006 relating to small entities.
Approved by the Board of Trustees on 21[st] June 2025 and signed on its behalf by
D Kulas Director / Trustee
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS / TRUSTEES
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Restricted | 2024 | 2023 | |
|---|---|---|---|---|
| Funds | Funds | Total Funds | Total Funds | |
| £ | £ | £ | £ | |
| Incoming Resources | ||||
| Incoming resources from Charitable activities | ||||
| The Heathland School | - | |||
| Gift Aid |
4,725 | 4,725 | 646 | |
| Other Donations |
3,000 | 3,000 | ||
| Incoming resources from Generated funds | ||||
| Local Community Campaign | ||||
| Gifts & Donations | 5,701 | 186 | 5,887 | 7,077 |
| Community Events | 12,101 | 12,101 | ||
| Standing Orders | 2,920 | - | 2,920 | 1,640 |
| Bank Interest | 385 | - | 385 | 152 |
| ______ | _ | _ | _ | |
| Total Incoming Resources | 28,832 | 186 | 29,018 | 9,515 |
| Resources Expended | ||||
| Charitable activities | ||||
| London Community Events | 5,278 | - | 5,278 | - |
| Activities & Services | ||||
| Expenses | 22,775 | 186 | 22,961 | 15,856 |
| Bank Charges | 389 | - | 389 | 218 |
| Depreciation | - | - | - | - |
| _ | _ | _ | _ | |
| Total Resources Expended | 28,442 | 186 | 28,628 | 16,074 |
| Net incoming (outgoing) resources | ||||
| For the year |
390 | - | 390 | (6,559) |
| Balance brought forward at | ||||
| 01 JANUARY | 17,376 | 5,757 | 23,133 | 29,692 |
| _ | _ | _ | _ | |
| Balance carried forward at | ||||
| 31 DECEMBER | 17,766 | 5,757 | 23,523 | 23,133 |
| ====== | ======= | ======= | ======= |
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET AS AT 31 DECEMBER 2024
| Notes | 2024 | 2023 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Tangible fixed assets |
1 | - | - |
| _ | _ | ||
| Current assets | |||
| Debtors & Prepayments | 4,762 | 896 | |
| Cash at bank and in hand | 18,760 | 22,237 | |
| _ | _ | ||
| 23,523 | 23,133 | ||
| Liabilities:amounts falling due within one year | - | - | |
| _ | _ | ||
| Net current Assets | 23,523 | 23,133 | |
| _ | _ | ||
| Net Assets | 23,523 | 23,133 | |
| ====== | ====== | ||
| Funds | |||
| Unrestricted income funds: | |||
| General | 17,766 | 17,376 | |
| Restricted funds: | 5,757 | 5,757 | |
| _ | _ | ||
| 23,523 | 23,133 | ||
| ====== | ====== |
Directors’ Statement:
The Directors are satisfied that the company is entitled to exemption under Section 475(1)(a) of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for:
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(i) Ensuring that the company keeps proper accounting records which comply with Section 386 of the Companies Act 2006; and
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(ii) Preparing accounts which give a true and fair view of the assets, liability, financial position and profit or loss of the company for the financial year in accordance with the requirements of section 393 and 394 of the Companies Act 2006.
The Directors have taken advantage of the exemptions conferred by section 477 of the Companies Act 2006 and have done so on the grounds that in their opinion the company qualifies as a small company under section 382 (3) Companies Act.
The Board of Directors approved these accounts on 21[st] June 2025.
D Kulas
Director / Trustee
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
1 Accounting policies
(a) Basis of preparation
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(i) These accounts are the accounts of OUR KIDS FOUNDATION, a not for profit organisation in its first period of trading.
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(ii) These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash are received or paid.
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(iii) The recommendations of the Statement of Recommended Practice (Accounting by Charities) have been followed in the preparation of these accounts.
(b) Fund accounting
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(i) The Charity's general fund consists of funds, which the charity may use for its purposes at its discretion.
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(ii) The Charity's restricted funds are those where the donor has imposed restrictions on the use of the funds, which are legally binding.
(c) Voluntary income
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(i) All voluntary income is included upon receipt.
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(ii) Grants receivable is credited to income immediately upon receipt.
(d) Investment income
- Credit is taken for interest when the interest falls due for payment.
(e) Fixed assets and depreciation
Fixed assets are included in the accounts at their historical cost and are written off through the statement of financial activities.
(f) Administration expenditure
Administration expenditure comprises costs incurred in running the charity. Where applicable, some of these costs have been treated as direct charitable expenditure.
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
2 Interest receivable and similar income
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank interest | 385 | 152 |
| ===== | ===== |
3 Fixed Assets And Depreciation:
Fixed assets are only capitalised if their value is above £1,000 and have a life of more than one year.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off of the cost of fixed asset over their expected useful lives on the following basis:
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No fixed assets were held during the period.
4 Share Capital
The company is limited by guarantee and does not have a share capital.
5 Remuneration of Directors (Trustees)
No directors received any remuneration in that year.
6 Analysis of Restricted Fund
Balance at Incoming Resources Transfers Balance at 1-Jan-24 resources expended to/from 31-Dec-24 General Fund £ £ £ £ £ Project Activities 5,757 0 0 5,757
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
7 Analysis of Unrestricted Fund
| General | Balance at 1-Jan-24 £ 17,376 |
Incoming resources £ 28,832 |
Resources expended £ (28,442) |
Transfers to/from General Fund £ - |
Balance at 31-Dec-24 £ |
|---|---|---|---|---|---|
| 17,766 |
8 Analysis of Fund Balances between Net Assets
| Fixed Assets Current Assets Current Liabilities |
Unrestricted £ - 17,766 - 17,766 |
Restricted £ - 5,757 - 5,757 |
Total £ - 23,523 - |
|---|---|---|---|
| 23,523 |
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OUR KIDS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF OUR KIDS FOUNDATION
I report on the accounts of Our Kids Foundation for the year ended 31 December 2024, which are set out on pages 7 to 8.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (the “2011 Act”) and, where applicable, the Charities Accounts (Scotland) Regulations 2006 (as amended) (the “2006 Regulations”).
You have elected for an independent examination instead of an audit, and I confirm that I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 (the “2005 Act”);
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follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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comply with Regulation 11 of the 2006 Regulations.
Independent examiner’s statement
My examination was carried out in accordance with the general Directions issued by the Charity Commission and the applicable regulations in Scotland. 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 the trustees concerning such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.
In the course of my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that, in any material respect:
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accounting records were not kept in accordance with section 130 of the 2011 Act, or section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Regulations; or
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the accounts do not accord with the accounting records and fail to comply with the accounting requirements of the 2011 Act, or section 44(1)(b) of the 2005 Act and Regulation 8 of the 2006 Regulations; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Romero Tayong FCCA Membership No: 0922393 Reading UK Date: 07 August 2025
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