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2021-12-31-accounts

SOS KIT AID LIMITED

Registered Number: 07472038 Charity Number: 1144716

Financial Statements

for the year ended 31 December 2021

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SOS Kit Aid Limited Company Information

Trustees J R Broadfoot
G Chilcott
G Price
M Thomas
A Thompson
R Westaway
Secretary K J Broadfoot
Registered Office 35a Orchard Avenue
Shirley
Croydon
Surrey
CR0 8UB

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SOS Kit Aid Limited - Trustees report

The Trustees, who are directors within the meaning of the Companies Act 2006, have pleasure in presenting the report and the financial statements for the year ended 31 December 2021.

Structure, governance and management

The Charity is governed by its Memorandum and Articles of Association (adopted pursuant to Special Resolutions passed on 16 December 2010, the date of incorporation of the Company).

Public benefit

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Risk assessment

The Trustees continually assesses the risks to which the Charity is exposed, in particular those related to the staging of events and other fund raising initiatives. They are satisfied that the systems in place manage exposure to major risk.

Objectives

The Charity principal purposes are as follows:

This is achieved through the core charitable activity of collecting unwanted sports kit and redistributing it to those individuals who wish to participate in sport, notably rugby, both in the UK and around the world.

Financial review

The financial results for the year are set out in the accompanying pages. The Charity is largely dependent on the support of its partner organisation, World Rugby, with whom the Charity has a strong relationship. We are anticipating continued support and as a result the Trustees are of the opinion that it is able to meet all liabilities as they occur.

2021 also saw the return of our fundraising golf days, which form an integral part of our fundraising strategy and we would like to thank everyone who supported the charity on these days.

Core funding for the Charity is an area that the Trustees are addressing. We continued with our charitable activities despite the lack of additional funding, resulting in a net deficit at the end of the year on our unrestricted reserves. The Trustees, based on activity during 2022, are confident of the charity’s future and therefore have continued to adopt the going concern principles in preparing these accounts.

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SOS Kit Aid Limited - Trustees report

Reserves policy

The Reserves Policy is, as far as is prudently possible, to commit all the funds raised in the year in which they are received, having regard to the need for funds to cover a normal level of working capital. As referred to above the lack of other fundraising has resulted in a deficit on unrestricted reserves at the end of December 2021 however the Trustees are confident that this position will reverse in 2022.

Statement of the Trustees’ responsibilities

The trustees are responsible for preparing the Report of the Trustees 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 the 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:

 select suitable accounting policies and then apply them consistently;

 observe the methods and principles in the Charities SORP;

 make judgements and estimates that are reasonable and prudent;

 state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 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 prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees would like to say a particular thank you to the volunteers around the country who work with SOS Kit Aid to collect, sort and deliver kit, and also to thank the teams at World Rugby, DHL, Big Yellow Storage, MDS Civil Engineering Limited, MPK, Redhead Transport, BT, and many other organisations for their direct and indirect support during the period.

By order of the Trustees

John Broadfoot - Trustee August 2022

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SOS Kit Aid Limited Profit and Loss account For the year ended 31 December 2021

I report to the Trustees on my examination of the accounts of the SOS Kit Aid Limited for the year ended 31 December 2021 which are set out on pages 6 to 10.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

As the Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under 145(5)(b) of the Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

T Berg FCA Chartered Accountant

7a Britwell Road, Burnham, SL1 8AF

August 2022

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SOS Kit Aid Limited Profit and Loss account For the year ended 31 December 2021

Note 2021 2021 2021 2020
£ £ £ £
Unrestricted Restricted Total Total
Income and endowments from:
Fundraising events 18,935 - 18,935 -
Voluntary income
Grants and Donations 1,615 17,236 18,851 26,810
_ _ _ _
Total Income 20,550 17,236 37,786 26,810
_ _ _ _
Expenditure
Fundraising activities 1 6,625 - 6,625 -
Charitable Expenditure 2 18,554 13,282 31,836 35,480
_ _ _ _
Total Expenditure 25,179 13,282 38,461 35,480
_ _ _ _
Net (expenditure) income for the
period (4,629) 3,954 (675) (8,670)
Reserves at start of year 26 2,075 2,101 10,771
_ _ _ _
(4,603) 6,029 1,426 2,101
========= ========= ========= =========

All gains and losses arising during the year are reflected in the above statements.

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SOS Kit Aid Limited Balance Sheet as at 31 December 2021

Note
Current assets
Bank and Cash in hand
Creditors:Amounts falling due within one year
4
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds
Restricted Funds
5
Total Reserves		 2021
£
1,426
1,426
-
1,426
£1,426
(4,603)
6,029
£1,426		 2020
£
2,101
2,101
-
2,101
£2,101
26
2,075
£2,101

For the period ending 31 December 2021 the charitable company was entitled to exemption under section 477(2) of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on August 2022 and signed on its behalf:

John Broadfoot – Trustee

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SOS Kit Aid Limited Accounting Policies

BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the Charity also prepared its financial statements in accordance with 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011, and Regulations made thereunder, together SORP Update Bulletin 1

The following accounting policies have been applied consistently in dealing with items which are considered material to the financial statements.

REVENUE

Charitable Income and Grants are accounted for as soon as the amount and its receipt are reasonable certain. Assets donated are included at value within Income with a corresponding recording of the asset within Fixed Assets.

The charity receives donations of new and used kit and, in relation to its fundraising event, auction items and raffle prizes, many of which may be unique or not available on the open market. In addition as part of the fundraising and charitable activities the Trustees negotiate supply agreements on the basis of the charity’s status resulting in reduced rates and receive use of exclusive facilities not available to the general public. As such the Trustees consider it impractical to be able to ascribe a value to the various donated gifts, services and facilities.

EXPENDITURE

All expenses are accounted for on an accrual basis.

RESERVES

Unrestricted Funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for specific purposes.

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SOS Kit Aid Limited Notes to the Financial Statements

1. Fundraising Expenditure

Direct costs incurred in relation to
fundraising events
2.
Direct charitable expenditure
Expenses incurred in connection with
the
charitable
activities
of
the
organisation:
Unrestricted activities
Restricted activities		 2021
£
6,625
2021
£
18,554
13,282
31,836		 2020
£
-
2020
£
20,245
15,235
35,480

Expenses incurred in relation to direct charitable expenditure include kit collection, sorting, packaging and delivery costs as well as other costs incurred that are directly incidental to this activity

3. Taxation

As SOS Kit Aid Limited is a registered charity, it is entitled to the exemptions from tax afforded by sections 505 ICTA 1988 and 256 TCGA 1992 so far as its income and gains are applied for charitable purposes.

4. Creditors: amounts falling due within one year

Other creditors £Nil (2020 - £Nil).

5.
Restricted reserves
World Rugby Donation
Other connected support
Charitable Expenditure
Movement for the year
Balance at 31 December 2020
Balance at 31 December 2021
Restricted reserves
World Rugby Donation
Charitable Expenditure
Balance at 31 December 2020		 2021
£
14,986
2,250
(13,282)
3,954
2,075
6,029
2020
£
17,310
(15,235)
2,075

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SOS Kit Aid Limited Notes to the Financial Statements

6. Liability of the Members

In the event of winding up of the Charity, the liability is limited to £1 per member.

7. Statement of Financial Activities – 2020

Below is the Statement of Financial Activities for 2020 which has been produced to provide the comparative information for the Statement of Financial Activities for the current year.

Note 2020 2020 2020
£ £ £
Unrestricted Restricted Total
Income and endowments from:
Fundraising events - - -
Voluntary income
Grants and Donations 9,500 17,310 26,810
Other Income
_ _ _
Total Income 9,500 17,310 26,810
_ _ _
Expenditure
Fundraising activities 1 - - -
Charitable Expenditure 2 20,245 15,235 35,480
_ _ _
Total Expenditure 20,245 15,235 35,480
_ _ _
Net income (expenditure) for the period (10,745) 2,075 (8,670)
Reserves at start of year 10,771 - 10,771
_ _ _
26 2,075 2,101
=========== =========== ===========

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