Report of the Directors and
Financial Statements
For the Year Ended 30 April 2022 For
Life For A Kid Foundation Ltd
(Company limited by guarantee and not having share capital)
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Company Information for the Year Ended 30 April 2022
TRUSTEES: Darren Palmer Steve Wilson Lisa Jewitt Shelley Polson Ian Needham Phillip Lamb (appointed 1 May 2022) REGISTERED OFFICE: 2 Leonard Street Hull HU3 1SA REGISTERED NUMBER: - COMPANY: 06892957 (England and Wales) - CHARITY: 1136410 (England and Wales)
INDEPENDENT EXAMINERS: HQ Accountancy Ltd Chartered Certified Accountants Granite Buildings 6 Stanley Street Liverpool L1 6AF
Page 1
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Report of the Trustees For the Year Ended 30 April 2022
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in January 2015.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of trustees
The members of Life For A Kid Foundation Ltd vote upon nominations for Trusteeship at AGM’s. The Board of Trustees have the power to co-opt Trustees in between AGM’s however, the Co-optee has to stand down at the next AGM to be then considered by the members for Trusteeship.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and aims
Helping children under the age of 16 by offering funds and equipment to help them lead a better life, also to help children who require lifesaving or life changing operations.
Significant activities
We are still running a successful Sensory Centre, and now have more groups using the centre like Sight Support, The Peel Project, National autistic society (east Yorkshire)
The staff have now been reduced again to just 1 full time member of staff
The Rugby league all stars have gone from strength to strength and celebrated the 15[th] Anniversary in 2022, a fantastic fundraising tool for the Life For A kid Charity
We have also developed a Life For A kid charity football team at adult level and under 15 level.
Future developments
We have decided to make 2022 main fundraising about children’s cancer.
The gym attached to the sensory centre is to be used for more community groups helping children
We have set up a new Instagram account and concentrating more on promotion of the charity via Social media
In closing, the Board would like to thank all volunteers and supporters of the charity; we continue to grow and try to help more children.
Page 2
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Report of the Trustees
For the Year Ended 30 April 2022
FINANCIAL REVIEW
Reserves policy
The board’s policy is to ensure that funds are maintained to cover the running expenses of the charity and office and to raise more funds for various children.
The charity is holding money for a number of children that we support to have life changing operations and are holding the money until the target is made for the operations.
We are also holding money for 12 months in advance running cost for the sensory centre in case we have a downturn in fundraising.
We also have money for heart condition appeal that is available for children with a heart condition problem to access when they need funding.
Overall financial performance:
The charity made an unrestricted deficit of £18,865 and carries forward an unrestricted fund balance of £92,367.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standard and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 preventions and detection of fraud and other irregularities.
ON BEHALF OF THE BOARD
D Palmer – Trustee 14 February 2023
Page 3
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Statement of Financial Activities (Including Income and Expenditure Account) For the Year Ended 30 April 2022
| Unrestricted Restricted Funds Funds £ £ Notes Incoming resources Incoming resources from generated funds: Voluntary income 2 203,682 - Incoming resources from charitable activities: Events 3 50,920 - Sponsorship 3 - - Total incoming resources 254,602 - Resources expended Charitable activities 4 262,501 - Governance costs 5 10,966 - Total resources expended 273,467 - Net incoming resources Net income/(expenditure) for the year (18,865) - Gross transfers between funds - - Net movement in funds (18,865) - Total funds at 1 May 2021 111,232 - Total funds at 30 April 2022 92,367 - |
2022 Total Funds £ 203,682 50,920 - 254,602 262,501 10,966 273,467 (18,865) - (18,865) 111,232 92,367 |
2021 Total Funds £ 88,437 26,242 10,262 123,461 90,901 11,161 102,062 21,399 - 21,399 89,883 111,232 |
|---|---|---|
ENDOWMENT FUNDS
The charity had no endowment funds in either the current or previous years.
The notes form part of these financial statements.
Page 4
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Balance Sheet
As at 30 April 2022
| Unrestricted Restricted Funds Funds Notes £ £ FIXED ASSETS: Tangible assets 11 8,692 - CURRENT ASSETS: Debtors 1 - Cash at bank and in hand 87,936 - 87,936 - CREDITORS:Amounts falling due with one year 12 (4,262) - NET CURRENT ASSETS 83,675 - TOTAL ASSETS LESS CURRENT LIABILITIES 92,367 - NET ASSETS 92,367 - RESERVES: 13 Unrestricted funds Restricted funds TOTAL FUNDS £ |
Unrestricted Restricted Funds Funds Notes £ £ FIXED ASSETS: Tangible assets 11 8,692 - CURRENT ASSETS: Debtors 1 - Cash at bank and in hand 87,936 - 87,936 - CREDITORS:Amounts falling due with one year 12 (4,262) - NET CURRENT ASSETS 83,675 - TOTAL ASSETS LESS CURRENT LIABILITIES 92,367 - NET ASSETS 92,367 - RESERVES: 13 Unrestricted funds Restricted funds TOTAL FUNDS £ |
Unrestricted Restricted Funds Funds Notes £ £ FIXED ASSETS: Tangible assets 11 8,692 - CURRENT ASSETS: Debtors 1 - Cash at bank and in hand 87,936 - 87,936 - CREDITORS:Amounts falling due with one year 12 (4,262) - NET CURRENT ASSETS 83,675 - TOTAL ASSETS LESS CURRENT LIABILITIES 92,367 - NET ASSETS 92,367 - RESERVES: 13 Unrestricted funds Restricted funds TOTAL FUNDS £ |
2022 Total £ 8,692 1 87,936 87,936 (4,262) 83,675 |
2021 Total £ 10,865 4,044 104,333 |
|---|---|---|---|---|
108,377 (8,010) 100,367 |
||||
92,367 92,367 |
- - £ |
92,367 92,367 92,367 - 92,367 £ |
111,232 |
|
111,232 |
||||
111,232 - |
||||
| 111,232 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ending 30 April 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:
-
a) Ensuring that the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 and
-
b) Preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Statement of Recommended Practice, “Accounting and Reporting by Charities” and FRS 102.
ON BEHALF OF THE BOARD:
………………………… D PALMER - TRUSTEE
Approved by the board on 14 February 2023
The notes form part of these financial statements
Page 5
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Notes to the Financial Statements for the Year Ended 30 April 2022
1. ACCOUNTING POLICIES
Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 (Section 1A), the Companies Act 2006 and follow the recommendations of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off tangible fixed assets over their expected useful economic lives, as follows:
Fixtures & fittings - 20% on reducing balance
Items of equipment are capitalised where the purchase price exceed £100, and are of an obvious capital nature.
Restricted funds
Restricted funds are subject to specific conditions imposed by the donors. These conditions are being complied with.
Unrestricted funds
Unrestricted funds are grants and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. They are available for use at the discretion of the charity in furtherance of its general charitable objectives.
2. VOLUNTARY INCOME
| Unrestricted Restricted Funds Funds £ £ Grants - - Donations 203,682 - 203,682 - |
2022 Total Funds £ - 203,682 203,682 |
2021 Total Funds £ - 88,437 |
|---|---|---|
88,437 |
Page 6
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Notes to the Financial Statements (continued) for the Year Ended 30 April 2022
3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
| Event income & merchandise Sponsorships 4. CHARITABLE ACTIVITIES COST Charitable activities 5. GOVERNANCE COSTS Accountancy Insurance Printing, postage and stationery Depreciation 6. TOTAL RESOURCES EXPENDED Staff Depreciation Other Costs (owned assets) Costs £ £ £ Revenue Expenditure Charitable activities 24,236 - 238,265 Governance costs - 2,173 8,793 24,236 2,173 247,058 7. NET INCOMING RESOURCES FOR THE YEAR This is stated after charging: Depreciation of tangible fixed assets 8. TRUSTEES’ REMUNERATION AND BENEFITS |
Direct Costs £ 262,501 2022 Total Costs £ 262,501 10,966 273,467 2022 £ 2,173 |
2022 2021 £ £ 50,920 24,762 - 10,262 50,920 35,024 2022 2021 Total Total £ £ 262,501 90,901 2022 2021 Total Total Funds Funds 4,224 4,020 3,575 2,545 994 1,880 2,173 2,716 10,966 11,161 2021 Total Costs £ 90,901 11,161 102,062 2021 £ 2,716 |
|---|---|---|
There were no trustees’ remuneration or other benefits for the year ended 30 April 2022 nor for the year ended 30 April 2021.
Page 7
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Notes to the Financial Statements (continued) for the Year Ended 30 April 2022
| 9. | STAFF COSTS | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| £ | £ | ||||
| Staff costs were as follows: | |||||
| Wages and salaries | 24,236 | 14,261 |
|||
| Social security costs | - | - |
|||
| 24,236 | 14,261 |
||||
| No employee received emoluments of more than £50,000. | |||||
| 10. | TAXATION | ||||
| The charitable company is exempt from corporation tax on its charitable activities. | |||||
| 11. | TANGIBLE FIXED ASSETS | ||||
| Fixtures & | |||||
| Fittings | |||||
| £ | |||||
| COST: | |||||
| At 1 May 2021 | 51,771 | ||||
| Additions | - | ||||
| 30 April 2022 | 51,771 | ||||
| DEPRECIATION: | |||||
| At 1 May 2021 | 40,906 | ||||
| Charge for year | 2,173 | ||||
| At 30 April 2022 | 43,079 | ||||
| NET BOOK VALUES: | |||||
| At 30 April 2022 | 8,692 | ||||
| At 30 April 2021 | 10,865 | ||||
| The net book value represents tangible fixed assets used for direct charitable purposes. | |||||
| 12. | CREDITORS: AMOUNTS FALLING | ||||
| DUE WITHIN ONE YEAR | |||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Taxation and social security | - | 91 |
|||
| Accrued expenses | 4,262 | 7,920 |
|||
| 4,262 | 8,011 |
Page 8
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Notes to the Financial Statements (continued) for the Year Ended 30 April 2022
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| General Restricted Funds Funds £ £ Tangible fixed assets 8,692 - Current assets 87,937 - Current liabilities (4,262) - Net assets at 30 April 2022 92,367 - |
Total Funds £ 8,692 87,937 (4,262) 111,232 |
|---|---|
Page 9
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Independent Examiner’s Report to the Trustees of Life For A Kid Foundation Ltd
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 accounts. The charity’s 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. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ACCA.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 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 Charities 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 the seeking of 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
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that, in any material respect, the requirements (a) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
(b) to prepare accounts which accord with the accounting records, comply with the accounting requirements 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
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name: N E Hughes Firm: HQ Accountancy Relevant professional qualification or body: FCCA Address: Granite Buildings 6 Stanley Street Liverpool L1 6AF Date: 14 Feruary 2023
This page does not form part of the statutory financial statements
Page 10
Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Income and Expenditure Account for the Year Ended 30 April 2022
| Voluntary Income: Grants received Donations received Incoming resources from charitable activities: Event income & merchandise Sponsorships RESOURCES EXPENDED Charitable activities: Merchandise and event costs Wages Donations made Rent Rates and water Light and heat Telephone Advertising Repairs and renewals Bank charges Motor expenses Sundry expenses Governance costs: Accountancy Insurance Printing, postage and stationery Depreciation NET INCOME/(EXPENDITURE) |
2022 £ 79,770 24,236 122,207 13,500 1,285 2,421 1,328 12,715 318 324 3,873 524 4,224 3,575 994 2,173 £ |
£ - 203,682 50,920 - 254,602 262,501 10,966 (18,865) |
2021 £ 19,509 14,261 32,393 13,500 972 1,870 1,273 4,140 - 758 1,749 476 4,020 2,545 1,880 2,716 £ |
£ - 88,437 24,762 10,262 123,461 90,901 11,161 21,399 |
|---|---|---|---|---|
This page does not form part of the statutory financial statements
Page 11