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← Kahaila Ltd

2023-12-31-accounts

Company number: 7356380 Charity number: 1138653

Kahaila Limited

(A Charity Company Limited by Guarantee, company number 7356380)

Financial Statements

and

Trustees' Report

for the year ended 31 December 2023

AT Kahaila Limited

(A Charity Company Limited by Guarantee, company number 7356380)

Index to the Financial Statements for the year ended 31 December 2023

Page
Index to the Financial Statements 2
Charitable Company Information 3
Trustees' Report 4 - 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Statement of Financial Postion 10
Statement of Cash Flows 11
Accounting Policies 12 - 13
Notes to the Accounts 14 - 18

Page 2

(A Charity Company Limited by Guarantee, company number 7356380)

AT Kahaila Limited

Charitable Company Information

for the year ended 31 December 2023

Status: Kahaila Limited is a company limited by guarantee and a registered charity governed by Kahaila Limited is a company limited by guarantee and a registered charity governed by
its memorandum and articles of association. The directors of the charity are its trustees
for the purposes of charity law and throughout this report are collectively referred to as
the trustees.
Charity name: Kahaila Limited
Company registration number: 7356380
England
Charity registration number: 1138653
Registered office: 135 Brick Lane
London E1 6SB
Operations address: 135 Brick Lane
London E1 6SB
Trustees who held office Ross Bradley
during the year: Sally Harman
Natalie Robinson - Resigned 15 February 2023
Steve Rouse
John Woolley
Chairperson: John Woolley
Secretary: Paul Unsworth
Independent Examiner: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London E2 7PR
Bankers: CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill, West Malling,
Kent ME19 4JQ
0
HSBC
465 Bethnal Green Road
London E2 9QW

Page 3

(A Charity Company Limited by Guarantee, company number 7356380)

AT Kahaila Limited

Trustees' Report, incorporating the Directors' Report

for the year ended 31 December 2023

The Trustees are pleased to present their report and financial statements for the year ending 31 August 2022. This report has been prepared in accordance with current statutory requirements, the charity’s governing document, the Accounting and Reporting by Charities, Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102), applicable accounting standards and Companies Act 2006.

Trustees

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:

John Woolley Sally Harman Natalie Robinson (resigned 15/02/2023) Steve Rouse Ross Bradley

STRUCTURE, GOVERNANCE AND MANAGEMENT

Kahaila Limited is a company limited by guarantee, incorporated on 25 August 2010 and registered as a charity on 28 October 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. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.

Public Benefit

In planning all the charity's activities the trustees take into account the Charity Commission guidance on public benefit and aim to meet its obligations both in spirit and in letter.

The charitable causes we are currently investing in are explained further in the report.

Board of Trustees

We have a minimum of three trustees and new trustees are appointed by agreement of the existing trustees. Potential trustees are provided with a detailed job description and invited to a board meeting. After completing the relevant paperwork, and approved, they are then voted on at the next Board meeting and must have the majority support of the Board.

Our trustees recognise that they have a duty to safeguard our assets and take steps to ensure that Kahaila Limited is being properly managed and that our funds are being spent appropriately.

The trustees ensure that major risks including; governance, operational, financial, external and compliance with legal requirements are identified and reviewed on a regular basis and that we have adequate systems in place to mitigate these risks.

In addition, the trustees ensure that Kahaila Limited has access to professional legal and financial advice where appropriate.

Meetings are held on average every three months. Trustees receive a quarterly activity report as well as financial and budgetary reports.

Management and Key Staff

Paul Unsworth is Kahaila Limited Director, and he communicates regularly with the Chair and members of the Board particularly in relation to major decisions on finance and strategy.

We have policies and procedures covering Health and Safety, Child Protection, Equal Opportunities, Finances and a staff handbook and volunteer handbook.

All our activities are well organised, risk assessed and supervised. A de-briefing takes place with staff and volunteers after each activity, results are written up and filed and any action to be taken is reported to the management.

Premises

A lease was signed for 5 years on 2nd April 2012 on 135 Brick Lane to provide premises from which the charity will operate in fulfilling its charitable objectives. This lease was renewed for an additional 6 years, on 2nd April 2017. On the 2nd April 2023 the lease was renewed for an additional 6 years.

Page 4

(A Charity Company Limited by Guarantee, company number 7356380)

AT Kahaila Limited

Trustees' Report, incorporating the Directors' Report

for the year ended 31 December 2023

AIMS OBJECTIVES AND ACTIVITIES

Principle Activities

Kahaila’s objects are the advancement of Christianity; the advancement of education; the advancement of health and the preservation and protection of public health generally; the relief of persons who are in need, hardship or distress and the prevention and relief of poverty.

The Directors have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning future activities. In particular, the Directors consider how planned activities will contribute to the aims and objectives they have set. The main activities undertaken to further Kahaila’s purposes for the public benefit are explained later in this report

Objectives

Kahaila Limited aims to build communities that experience wholeness and life in all its fullness.

Therefore, we aim to

Kahaila Limited fulfils its objectives through the following activities

A café that provides a forum for people to not only experience and build community in a fresh new way but also to allow them to explore faith in a non-threatening and comfortable place, where there is no pressure to be anything other than yourself. The café is also where we run the BREW programme, creating training and employment for asylum seekers and those at risk of homelessness.

A church community that gathers regularly in Brick Lane, modelling our values of belonging, community, serving, faith and generosity.

Kahaila founded the following:

Luminary Bakery – Equips women with vocational, employability and life skills, employment placements and tailored one to one and group support. Based in Hackney & Camden, the Charity provides training and support programmes to women in London, enabling them to leave lives of poverty and disadvantage behind. (Luminary became an independent charity on 31st May 2019, Charity no 1181835)

Ella’s Home – Providing relief for women and other victims affected by human trafficking and sexual exploitation including, but not limited to, the provision of safe and restorative accommodation, counselling, medical care, financial assistance, education and other services to support long term aftercare and recovery. (Ella’s Home became an independent charity on 28th Aug 2019)

Kahaila Essence – A mentoring and education project for women in HMP Downview. In 2021, this project partnered with Imago Dei Prison Ministry charity no 1165176.

BREW (Barista & Roastery Employment Workshop) – A training and employability programme for members working with asylum seekers and those at risk of homelessness. We offer a barista training course and offer paid employment opportunities. With the aim to support people in London to leave lives of poverty and disadvantage.

ACHIEVEMENTS AND PERFORMANCE

Our achievements against performance can be seen by comparing our objectives above against our activities.

FINANCIAL REVIEW

Results for the year

The results of the period and financial position of the charity are shown in the annexed financial statements.

The Statement of Financial Activities shows net income for the year of £5,649 and reserves of £203.

Reserves Policy

It is considered prudent that Kahaila Limited should aim to have a minimum level of general reserves of £27,000 to cover unforeseen circumstances and key salaries for three months. We are not currently achieving this target.

Kahaila Limited, in line with its business plan and fundraising strategy, plans to maintain this level of reserves over the next three years through prudent management of income and expenditure.

Page 5

(A Charity Company Limited by Guarantee, company number 7356380)

AT Kahaila Limited

Trustees' Report, incorporating the Directors' Report

for the year ended 31 December 2023

Related Party Transactions

The Trustees confirm that Kahaila Limited did have related party transactions during the year. Details are shown at note 25 to the accounts.

Guarantees

Members on the board of Trustees of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantees at 31 December 2023 was 5. The Trustees have no beneficial interest in the charitable company.

Independent Examiner

The Independent Examiner, Anthony Armstrong FCA of Armstrong & Co, has indicated his willingness to be proposed for reappointment.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the trustees on 2024, and signed on their behalf by:

John Woolley, Trustee

Page 6

(A Charity Company Limited by Guarantee, company number 7356380)

AT Kahaila Limited

Statement of Trustees' Responsibilities for the year ended 31 December 2023

The trustees (who are the directors of Kahaila Limited for the purpose of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and charity legislation. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 7

AT Kahaila Limited

(A Charity Company Limited by Guarantee, company number 7356380)

Independent Examiner's Report to the Trustees of Kahaila Limited

I report on the accounts of Kahaila Limited for the period from 1 January 2023 to 31 December 2023, which are set out on pages 9 to 18.

This report is made solely to the trustees as a body in accordance with section 145 of the Charities Act 2011 (the Charities Act) and regulations made under section 154 of that Act. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

As described on page 7, 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 of the the Charities 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 Institute of Chartered Accountants in England and Wales (ICAEW).

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:

Basis of independent examiner's statement

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 the 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 cause to believe that in, any material respect:

Anthony Armstrong FCA, Independent Examiner of Armstrong & Co Chartered Accountants & Statutory Auditor Dated: 0 January 1900

4a Printing House Yard Hackney Road London E2 7PR

Page 8

(A Charity Company Limited by Guarantee, company number 7356380)

FS Kahaila Limited

Statement of Financial Activities

incorporating the income and expenditure account for the year ended 31 December 2023

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income/(expenditure) and movement in funds
Reconciliation of funds:
Total funds brought forward
15
Total funds carried forward
15		 2023
2022
Total Funds
Total Funds
£
£
67,764
27,604
401,164
369,958
372
20
469,300
397,582
101
85
463,550
336,846
463,651
336,931
5,649
60,651
(5,446)
(66,097)
203
(5,446)
Unrestricted
Funds		 Restricted
Funds
£
67,764
401,164
372		 £
-
-
-
-
-
-
-
-
-
-
469,300
101
463,550
463,651
5,649
(5,446)
203

All incoming resources and resources expended are derived from continuing activities. The statement of financial activities incorporates an income and expenditure account.

The accompanying accounting policies and notes form an integral part of these financial statements.

Page 9

(A Charity Company Limited by Guarantee, company number 7356380)

Kahaila Limited

Statement of Financial Postion

as at 31 December 2023

Notes
Fixed assets:
Tangible assets
9
Total fixed assets
Current assets:
Stocks
10
Debtors
11
Cash at bank and In hand
13
Total current assets
12
Net current assets/(liabilities)
Total assets less current liabilities
13
Total net assets
The funds of the charity:
Unrestricted funds
14
Total charity funds
18
Creditors: amounts falling due after more than one
year
Creditors: amounts falling due within one year		 £
£
£
£
7,146
998
7,146
998
2,000
1,250
31,118
36,342
16,749
23,195
49,867
60,787
25,679
28,703
24,188
32,084
31,334
33,082
31,131
38,528
203
(5,446)
203
(5,446)
203
(5,446)
31 December 2023
31 December 2022		 £
£
£
£
7,146
998
7,146
998
2,000
1,250
31,118
36,342
16,749
23,195
49,867
60,787
25,679
28,703
24,188
32,084
31,334
33,082
31,131
38,528
203
(5,446)
203
(5,446)
203
(5,446)
31 December 2023
31 December 2022
£
2,000
31,118
16,749
49,867
25,679		 £
998
998
32,084
33,082
38,528
(5,446)
(5,446)
(5,446)

The directors are satisfied that the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

(i) ensuring that the company keeps proper accounting records which comply with Section 386 of the Companies Act 2006; and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of Section 394 and 395 of the Companies Act 2006, and which otherwise comply with the requirements of this act relating to accounts, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.

Approved by the trustees on 2024, and signed on their behalf by:

John Woolley Trustee

The notes on pages 12 to 18 form part of these accounts.

Page 10

(A Charity Company Limited by Guarantee, company number 7356380)

Kahaila Limited

Statement of Cash Flows

for the year ended 31 December 2023

Notes
Cash flows from operating activities:
Net cash provided by/(used in) operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to the Cash Flow Statement
1)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Increase)/decrease in stocks and work in progress
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
2)
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 2023
£
1,116
372
(7,934)
(7,562)
(6,446)
23,196
16,750
2023
£
5,649
1,786
(372)
(750)
5,224
(10,421)
1,116
2023
£
16,750
16,750		 2022
£
(10,722)
20
(524)
(504)
(11,226)
34,422
23,196
2022
£
60,651
285
(20)
1,250
(15,061)
(57,826)
(10,722)
2022
£
23,196
23,196

Page 11

(A Charity Company Limited by Guarantee, company number 7356380)

Kahaila Limited

Accounting Policies for the year ended 31 December 2023

Basis of preparation

The financial statements have been prepared in accordance with:

Public benefit entity

The charitable company meets the defination of a public benefit entity under FRS 102.

Going concern

The Kahaila Board of Trustee confirms their assumption that Kahaila Limited is a going concern and no significant uncertainty exists in this respect. The assumption is based on professional and legal advice from Weil, Gotshel and Manges LLP and insolvency specialist Phil Reynolds of FRP Advisory. As well as carrying out a cash flow forecast based on sales forecast and government support cash grants. The trustees have been monitoring the financial position on a regular basis, the minutes give an accurate account of the meetings and the decisions made.

Income recognition

Income is recognised when the charity has a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably. Income with conditions attached to its receipt is recognised when those conditions have been fulfilled.

Voluntary income received by way of donations and gifts is included in full when received. Donated services and facilities are recognised as an incoming resource where the provider of the service has incurred a financial cost. Volunteer time is not included in the financial statements.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The charity is registered for VAT and accordingly expenditure excludes VAT where appropriate. Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations.

Charitable expenditure includes those costs expended in fulfilling the charity’s principal objects, as outlined in the Report of the Trustees. These include grants payable, governance costs and an apportionment of support costs.

Costs are allocated directly to projects where they can be identified as relating solely to that project. Other costs are allocated between the funds based on staff time spent on the fund activities or other appropriate criteria.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Page 12

(A Charity Company Limited by Guarantee, company number 7356380)

Kahaila Limited

Accounting Policies

for the year ended 31 December 2023

Pensions

The charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Premises Improvements - 20% on NBV
Plant & machinery - 20% on NBV
Furniture & fixtures - 20% on NBV
Office equipment - 20% on NBV

Items of equipment are only capitalised where the purchase price exceeds £500.

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Page 13

(A Charity Company Limited by Guarantee, company number 7356380)

F Kahaila Limited

Notes to the Accounts

for the year ended 31 December 2023

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

Net incoming resources
Net incoming resources are stated after charging:
Independent Examiner's fees - reporting service
Independent Examiner's fees - other services
Depreciation - owned assets
Trustees' emoluments		 2023
£
1,200
1,800
1,786
-		 2022
£
1,200
4,961
285
-

Trustees' emoluments

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

3
Income from donations and legacies
Gift aid tax recovered
Gifts and donations
4
Income from charitable activities
Cafe sales
Grant income
5
Income from investments
Interest Income
6
Expenditure on raising funds
Advertising and promotion		 Unrestricted
£
3,255
64,509
67,764
Unrestricted
£
401,164
-
401,164
Unrestricted
£
372
372
Unrestricted
£
101
101		 Restricted
£
-
-
-
Restricted
£
-
-
-
Restricted
£
-
-
Restricted
£
-
-		 2023
Total
£
3,255
64,509
67,764
2023
Total
£
401,164
-
401,164
2023
Total
£
372
372
2023
Total
£
101
101		 2022
Total
£
4,040
23,564
27,604
2022
Total
£
361,958
8,000
369,958
2022
Total
£
20
20
2022
Total
£
85
85

Page 14

(A Charity Company Limited by Guarantee, company number 7356380)

F Kahaila Limited

Notes to the Accounts

for the year ended 31 December 2023

2023 2022
7 Expenditure on charitable activities Unrestricted Restricted Total Total
£ £ £ £
Staff salaries 157,942 - 157,942 133,098
Staff pensions 12,903 - 12,903 7,635
Café purchases 139,256 - 139,256 109,036
Café small equipment 6,728 - 6,728 4,826
Direct costs of sales (Merch fees, etc) - - - 3,097
Café rent, rates & maintenance 89,146 - 89,146 56,865
Café assets depreciation 1,786 - 1,786 285
Evangelism & ministry expenses 28 - 28 57
Gifts & donations 3,050 - 3,050 -
Conferences & training 369 - 369 260
Travel & meeting expenses 22,928 - 22,928 7,631
Office expenses 5,309 - 5,309 2,526
Miscellaneous expenses 13,282 - 13,282 3,794
Bank charges 479 - 479 401
Legal and professional fees 8,344 - 8,344 -
Bookkeeping 800 - 800 5,961
Independent examiner's fees 1,200 - 1,200 1,200
Interest payable - - - 174
463,550 - 463,550 336,846
8 Staff costs 2023 2022
£ £
Staff salaries 157,942 133,098
Staff pensions 12,903 7,635
170,845 140,733
Average number of employees during the year was: 22 14
No remuneration was paid to any Trustee or their associates for services as a trustee during the year ended 31 December 2023
nor to 31 December 2022.
Employees paid in excess of £60,000 during the current year and previous year: - -
Premises Plant & Furniture & Office
9 Tangible fixed assets Tangible 1 Improvements machinery fixtures equipment Total
£ £ £ £ £ £
Cost
As at 1 January 2023 - 67,206 33,267 11,287 2,499 114,259
Additions - - 7,934 - - 7,934
As at 31 December 2023 - 67,206 41,201 11,287 2,499 122,193
Depreciation
As at 1 January 2023 - 67,206 32,269 11,287 2,499 113,261
Charge for the year - - 1,786 - - 1,786
As at 31 December 2023 - 67,206 34,055 11,287 2,499 115,047
Net book value
As at 31 December 2023 - - 7,146 - - 7,146
As at 31 December 2022 - - 998 - - 998

Page 15

(A Charity Company Limited by Guarantee, company number 7356380)

F Kahaila Limited

Notes to the Accounts

for the year ended 31 December 2023

10
11
12
13
14
15
**16 **		 Stocks
Stock
Debtors: amounts falling due within one year
Other debtors
Rent deposit
Sales control
Creditors: amounts falling due within one year
Creditors
Net wages
VAT liability
PAYE
Pension liability
Accruals
Loans
Creditors: amounts falling due after more than one year
LBA loans
BB loan
Maturity of debt
Amount falling due:
In one year or less
Between one and two years
Between two and five years
The funds of the charity: current year
Opening
balance
£
Unrestricted funds
General funds
(5,446)
(5,446)
The funds of the charity: prior year
Opening
balance
£
Restricted funds
Restricted funds
5,333
Unrestricted funds
General funds
(71,430)
(66,097)		 Stocks
Stock
Debtors: amounts falling due within one year
Other debtors
Rent deposit
Sales control
Creditors: amounts falling due within one year
Creditors
Net wages
VAT liability
PAYE
Pension liability
Accruals
Loans
Creditors: amounts falling due after more than one year
LBA loans
BB loan
Maturity of debt
Amount falling due:
In one year or less
Between one and two years
Between two and five years
The funds of the charity: current year
Opening
balance
£
Unrestricted funds
General funds
(5,446)
(5,446)
The funds of the charity: prior year
Opening
balance
£
Restricted funds
Restricted funds
5,333
Unrestricted funds
General funds
(71,430)
(66,097)		 Resources
arising
£
469,300
469,300
Resources
arising
£
-
397,582
397,582		 Resources
utilised
£
(463,651)
(463,651)
Resources
utilised
£
(5,333)
(331,598)
(336,931)		 2023
£
2,000
2,000
2023
£
5,676
20,000
5,442
31,118
2023
£
11,923
1,424
3,018
577
45
3,002
5,690
25,679
2023
£
26,700
4,431
31,131
2023
£
5,690
5,690
25,441
36,821
Other
movements
£
-
-
Other
movements
£
-
-
-		 2022
£
1,250
1,250
2022
£
14,012
20,000
2,330
36,342
2022
£
7,974
2,268
7,934
830
45
4,156
5,496
28,703
2022
£
32,000
6,528
38,528
2022
£
5,496
5,496
33,032
44,024
Closing
balance
£
203
(5,446) 203
Opening
balance
£
5,333
(71,430)		 Closing
balance
£
-
(5,446)
(66,097) (5,446)

Page 16

(A Charity Company Limited by Guarantee, company number 7356380)

F Kahaila Limited

Notes to the Accounts

for the year ended 31 December 2023

17 Restricted funds: prior year
Comic Relief
18 Net assets attributable to funds: current year
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
Net assets represented by funds
19 Net assets attributable to funds: prior year
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
Net assets represented by funds		 Opening
balance
£
5,333		 Incoming
resources
£
-
-
Designated
funds
£
-
-
-
-
-
Designated
funds
£
-
-
-
-
-		 Resources
expended
£
5,333
5,333
Restricted
funds
£
-
-
-
-
-
Restricted
funds
£
-
-
-
-
-		 Transfers &
gains/(losses)
£
-
-
Endowment
funds
£
-
-
-
-
-
Endowment
funds
£
-
-
-
-
-		 Closing
balance
£
-
5,333 -
General funds
7,146
49,867
(25,679)
(31,131)		 Total
£
7,146
49,867
(25,679)
(31,131)
203 203
General funds
998
60,787
(28,907)
(38,324)		 Total
£
998
60,787
(28,907)
(38,324)
(5,446) (5,446)

20 Taxation

The company is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

21 Post balance sheet events

On 26 September 2023 the charity entered into a new six lease for the Brick Lane Property at an initial rent of £60,000 a year.

22 Pension commitments

The charitable company contributes to employee defined contribution (DC) stakeholder pension schemes. The assets of the schemes are held separately from those of the charitable company in independently administered funds.

23 Other financial commitments

Total operating lease commitments

At 31 December 2023, the charitable company had total commitments under non-cancellable operating leases over the remaining life of those leases of £320,000 (2022: £41,625).

24 Contingent liabilities

The charitable company had no material contingent liabilities at 31 December 2023 nor at 31 December 2022.

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(A Charity Company Limited by Guarantee, company number 7356380)

F Kahaila Limited

Notes to the Accounts

for the year ended 31 December 2023

25 Related parties

Burning Tree Tea Limited and Three Cords Coffee supplies tea and coffee to Kahaila Limited.

The CEO of Kahaila Limited directly owns a fifty per cent share in both Burning Tree Tea Ltd and Three Cords Coffee Ltd. The decision to purchase goods from Burning Tree Tea and Three Cords Coffee was approved by the Kahaila Board of Trustees.

During the year Kahaila entered into the following transactions with Burning Tree Tea Ltd and Three Cords Coffee Ltd who are not a part of Kahaila Limited.

a part of Kahaila Limited.
Purchases
BurningTree Tea £36
Three Cords Coffee £21,515

Sales of goods to Kahaila Limited were made at Burning Tree Tea Limited usual cost list price, less an average discount of ten per cent. Purchases were made at market price discounted to reflect the relationship between the parties.

26 Gifts in kind and volunteers

During the year the charitable company benefited from unpaid work performed by volunteers.

27 Company status

The company is limited by guarantee and has no share capital. The guarantors liability in the event the company is wound up is restricted to a maximum of £1 each.

Page 18