Report of the Directors and
Financial Statements
For the Year Ended 30 April 2024 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 2024
TRUSTEES: Darren Palmer Steve Wilson Lisa Jewitt Shelley Polson Ian Needham 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
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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 2024
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 2024. 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
2023 was a great year again fundraising for the Life For A kid Sensory centre and children with life limiting or life changing illness.
We also held our first fundraising rugby tour in Thailand which raised money for Life For A kid and The Father Ray Foundation. The tour is now set to be an annual event
We still remain with the same Trustee board and just the one employee and remain at the Life For A kid Sensory centre.
Future developments
The Tour of Thailand to raise funds will be planned again
We have entered talks with another Registered charity called LAFFS to move our sensory centre LAFFS have taken over a building which is funded by the Hull City Council,
This partnership will have two huge benefits to the Life For A kid Charity, More children will be able to access and benefit from the Rooms and it will save Life For A kid Any rental fee’s.
The LAFFS Building will also be building Games Rooms, Youth Centre, Doctors area all for children with SEND.
The current Life For A kid building we are in talks with The Peel Project who would like to take over our lease to allow us to make the move with LAFFS.
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.
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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 2024
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 £40,542 and carries forward an unrestricted fund balance of £44,838.
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:
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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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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 11 February 2025
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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 2024
| Unrestricted Restricted Funds Funds £ £ Notes Incoming resources Incoming resources from generated funds: Voluntary income 2 203,868 - Incoming resources from charitable activities: Events 3 50,967 - Sponsorship 3 - - Total incoming resources 254,835 - Resources expended Charitable activities 4 282,720 - Governance costs 5 12,657 - Total resources expended 295,377 - Net incoming resources Net income/(expenditure) for the year (40,542) - Gross transfers between funds - - Net movement in funds (40,542) - Total funds at 1 May 2023 85,381 - Total funds at 30 April 2024 44,838 - |
2024 Total Funds £ 203,868 50,967 - 254,835 282,720 12,657 295,377 (40,542) - (40,542) 85,381 44,838 |
2023 Total Funds £ 249,478 62,370 - 311,848 304,627 14,207 318,834 (6,986) - (6,986) 92,367 85,381 |
|---|---|---|
ENDOWMENT FUNDS
The charity had no endowment funds in either the current or previous years.
The notes form part of these financial statements.
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Life For A Kid Foundation Ltd (Company limited by guarantee and not having share capital)
Balance Sheet As at 30 April 2024
| Unrestricted Restricted Funds Funds Notes £ £ FIXED ASSETS: Tangible assets 11 14,445 - CURRENT ASSETS: Debtors - - Cash at bank and in hand 35,314 - 35,314 - CREDITORS:Amounts falling due with one year 12 (4,921) - NET CURRENT ASSETS 30,393 - TOTAL ASSETS LESS CURRENT LIABILITIES 44,838 - NET ASSETS 44,838 - RESERVES: 13 Unrestricted funds Restricted funds TOTAL FUNDS £ |
2024 Total £ 14,445 - 35,314 35,314 (4,921) 30,393 44,838 44,838 44,838 - 44,838 £ |
2023 Total £ 17,612 - 73,587 73,587 (5,818) 67,769 |
|---|---|---|
67,769 |
||
85,381 |
||
85,381 - |
||
| 85,381 |
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ending 30 April 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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 11 February 2025
The notes form part of these financial statements
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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 2024
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 203,868 - 203,868 - |
2024 Total Funds £ - 203,868 203,868 |
2023 Total Funds £ - 249,478 |
|---|---|---|
249,478 |
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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 2024
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 - 258,484 Governance costs - 3,167 9,490 24,236 3,167 267,974 7. NET INCOMING RESOURCES FOR THE YEAR This is stated after charging: Depreciation of tangible fixed assets |
Direct Costs £ 282,720 2024 Total Costs £ 282,720 12,657 295,377 2024 £ 3,167 |
2024 2023 £ £ 50,967 62,370 - - 50,967 62,370 2024 2023 Total Total £ £ 282,720 304,627 2024 2023 Total Total Funds Funds 5,160 4,446 2,464 4,130 1,866 1,761 3,167 3,870 12,657 14,207 2023 Total Costs £ 304,627 14,207 318,834 2023 £ 3,870 |
|---|---|---|
8. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.
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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 2024
| 9. STAFF COSTS Staff costs were as follows: Wages and salaries Social security costs |
2024 £ 24,236 - 24,236 |
2023 £ 34,022 - 34,022 |
|---|---|---|
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
| 11. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Fixtures, fittings & | |||
| Motor Vehicles | |||
| £ | |||
| COST: | |||
| At 1 May 2023 | 64,561 | ||
| Additions | - | ||
| 30 April 2024 | 64,561 | ||
| DEPRECIATION: | |||
| At 1 May 2023 | 46,949 | ||
| Charge for year | 3,167 | ||
| At 30 April 2024 | 50,116 | ||
| NET BOOK VALUES: | |||
| At 30 April 2024 | 14,445 | ||
| At 30 April 2023 | 17,612 | ||
| The net book value represents tangible fixed assets used for direct charitable purposes. | |||
| 12. | CREDITORS: AMOUNTS FALLING | ||
| DUE WITHIN ONE YEAR | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Taxation and social security | - | 1,378 |
|
| Accrued expenses | 4,921 | 4,440 |
|
| 4,921 | 5,818 |
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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 2024
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| General Restricted Funds Funds £ £ Tangible fixed assets 14,445 - Current assets 35,314 - Current liabilities (4,921) - Net assets at 30 April 2024 44,838 - |
Total Funds £ 14,445 35,314 (4,921) 44,838 |
|
|---|---|---|
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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:
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examine the accounts under section 145 of the 2011 Act;
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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
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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:
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which gives me reasonable cause to believe that, in any material respect, the requirements
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(a) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(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
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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.
Name: N E Hughes Firm: HQ Accountancy Relevant professional qualification or body: FCCA Address: Granite Buildings 6 Stanley Street Liverpool L1 6AF Date: 11 February 2025
This page does not form part of the statutory financial statements
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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 2024
| 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 Computer software and maintenance Sundry expenses Governance costs: Accountancy Insurance Printing, postage and stationery Depreciation NET INCOME/(EXPENDITURE) |
2024 £ 125,309 36,493 90,553 13,750 1,786 4,510 2,090 - 1,149 278 3,686 1,194 1,922 5,160 2,464 1,866 3,167 £ |
£ - 203,868 50,967 - 254,835 282,720 12,657 (40,542) |
2023 £ 93,744 34,022 127,155 13,500 1,549 4,326 2,091 9,357 4,730 311 11,702 - 2,140 4,446 4,130 1,761 3,870 £ |
£ - 249,478 62,370 - 311,848 304,627 14,207 (6,986) |
|---|---|---|---|---|
This page does not form part of the statutory financial statements
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