REGISTERED COMPANY NUMBER: 7853033 REGISTERED CHARITY NUMBER: 1145234
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 FOR FROM BABIES WITH LOVE FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
FROM BABIES WITH LOVE FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
| Page | |
|---|---|
| Report of the Trustees | 2 to 6 |
| Independent Examiner's Report | 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 15 |
FROM BABIES WITH LOVE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
2
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 Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims Governing instrument and objects
The From Babies with Love Foundation was established in 2011 and registered as a charity on 29 December 2011. At incorporation the following object was adopted: The prevention and relief of poverty, around the world, by providing grants, items and services to babies and children in need and charities, or other organisations working to prevent and relieve poverty for babies and children in need.
About the From Babies with Love Foundation
The From Babies with Love Foundation believes that every baby should have a fair start in life, no matter where they are born. Its mission is to fund the care of orphaned and abandoned babies and children around the world.
Who we are
We are a charity and our work is not for profit. We are not affiliated to any political party or religious organisation. Our Trustees are appointed as individuals. They bring a broad range of expertise to our work.
What we do
To fulfil our mission our charitable objects are to prevent and relieve poverty, around the world, by providing grants, items and services to babies and children in need and to charities, or other organisations, working to prevent and relieve poverty for babies and children in need.
How we are funded
The From Babies with Love Foundation is funded by donations, principally from its 100% owned trading subsidiary From Babies with Love Trading Ltd.
OBJECTIVES AND ACTIVITIES
Public benefit
In shaping our objectives and planning our activities for the year, the Trustees have given consideration to the duties set out in Section 17(5) of the Charities Act 2011 to have due regard to public benefit. In particular, the Trustees have considered how the planned activities will contribute to the overall aims and objectives that they have set.
The Trustees believe that the paragraphs above, and those in the section 'Achievement and Performance', convey in detail the benefits that the Charity provides to the public.
FROM BABIES WITH LOVE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
3
ACHIEVEMENT AND PERFORMANCE
Overview of the year
In response to escalating and new conflicts, during the year From Babies with Love began supporting children in Afghanistan and Ukraine. During the year From Babies with Love supported 45,587 children (2023: 45,481). The children were supported through grants to two charity partners, SOS Children’s Villages (registered charity number 1069204) and Street Child (registered charity number 1128536).
Our support is delivered in several forms, including support to individual children, to nurseries, schools and teaching programmes, and to Child Friendly Spaces with social support and education for unaccompanied and refugee children, many of whom have experienced highly traumatic situations.
Our impact contributes to many of the UN’s Sustainable Development Goals (‘SDGs’), in particular 1 – No Poverty, 2 – Zero Hunger, 3 – Good Health & Wellbeing, 4 – Quality Education and 5 – Gender Equality. The UN states that SDG4, obtaining a quality education, is the foundation of creating sustainable development. Working with our charity partners we fund education programmes alongside the social, family-based care that vulnerable children need to go on to independent adult lives, breaking the cycle of poverty.
ACTIVITIES
Key grants
Early Years Education and Family Homes Around the World
This year, with SOS Children’s Villages our funding supported 37,866 children around the world. From Babies with Love supports villages, nursery schools and sponsors individual children to grow up with an SOS parent, in loving family homes. Each family home has a living space, a kitchen, two bathrooms, bedrooms with bunkbeds for about ten children, a porch and garden. The children are loved and cared for by an SOS parent, and they become brothers and sisters, forming a new family unit. The village nursery schools each care for around 90 toddlers; commonly there are 3 groups of around 30 children; two nannies and an assistant care giver for each group. This allows the children to begin their early years learning, a fundamental foundation for ongoing education.
Accelerating Learning for 1,440 Out of School Children in Northern Ghana
We funded the salaries of 56 facilitators and 8 Social Support Officers for Street Child’s Accelerated Learning Programme, who led these essential catch-up classes for 1,440 out of school children. 95% of the children successfully completed the programme, ready to integrate into local schools at the start of the academic year.
For example, one of the children, a young girl from the Gushegu District in Northern Ghana, faced significant challenges in accessing education due to a physical disability. Despite her mobility issues, Afia had an unwavering eagerness to learn, she would even push herself to class on a makeshift wooden platform her father built. Our support connected Afia with a dedicated social worker, who collaborated closely with Afia’s teacher to create an inclusive and nurturing classroom environment. Beyond providing effective teaching strategies, the social worker also sourced a customised wheelchair for Afia, enabling her to navigate the village with greater ease, and empowered Afia's parents with practical solutions to combat the stigma surrounding her disability.
In Cameroon: Bringing 1,402 Children Back to School in Conflict Zones
Since 2016, violent conflict has severely impacted anglophone regions, displacing over 900,000 people and leading to the closure of many schools targeted by armed separatists. By September 2023, 2,245 schools in the region remained closed due to threats and violence, leaving thousands of children out of school.
Improved security conditions in 2024 provided opportunity to support safe school re-openings, and we supported Street Child’s Back-to-School programme to help children aged 5 – 13 to return to the classroom safely, providing essential school materials, uniforms, and enrolment support for 1,402 children.
FROM BABIES WITH LOVE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
4
ACTIVITIES CONTINUED
Enrolment support was central to success of the programme, working with 14 dedicated local NGO partners who facilitated the process, leveraging deep local knowledge to develop community buy-in. Each partner engaged key community stakeholders, including chiefs, quarter heads, and civil authorities, to champion the importance of education, and address barriers to enrolment. The enthusiasm from all involved was palpable, as local leaders actively help to gather families, and communities united in their eagerness to see children return to learning. Likewise, at several education kit distributions, more children turned up than expected, showing just how ready they were to be back in school after so long.
In Mozambique: Emergency Response for 600 Children Displaced by Conflict
In early 2024, Cabo Delgado province in northern Mozambique endured a series of devastating attacks by armed groups, forcing more than 24,000 families, over 110,000 people including many children, to flee their homes. In March 2024 alone, these attacks triggered a surge in displacement to Chiure and Mecufi districts in the south. Supporting Street Child’s emergency response, we supported a multipurpose centre in Mecufi, where children affected by the crisis engage in play, music, and dance in a safe environment, and benefit from case management and mental health and psychosocial support.
In Northeast Nigeria: Establishing Temporary Learning Centres for 2,555 children and Training Teachers
The humanitarian crisis in north-east Nigeria's Borno, Adamawa and Yobe states is unrelenting as conflict enters its fourteenth year, displacing millions and leaving families without food security or livelihood. This instability, alongside lack of educational infrastructure and poverty, has had a profound impact on education: 55% of conflict-affected households have no means of income, and over half of children have never attended school.
Street Child is supporting out-of-school children in north-east Nigeria to go to school through enrolment, teacher training, school construction, and livelihood support. This includes a particular focus on unaccompanied children, those formerly associated with armed groups, and street-connected children.
This year our funding helped set up 4 temporary learning centres and renovate 46 classrooms to ensure children can return to learning quickly, as well as contributing to teacher training. Brilliantly, all 2,555 children who completed their Accelerated Learning Programme have now sat the mainstreaming examination and transitioned into formal education.
In Somalia: Education for the Next Generation: Pilot for 2,656 Displaced Children
Vulnerable children in Internally Displaced Persons (IDP) camps in Somalia, where families displaced by conflict and the worst drought in 40 years, are struggling to survive. Approximately 60% of children are not in school - one of the highest rates in the world - and many have never had the chance to receive a formal education. This lack of access puts them at risk for child labour, early marriage, and recruitment by armed groups.
We supported 2,656 children in these conflict and climate-affected camps, providing critical educational support through Street Child’s ‘Teaching at the Right Level’ (TaRL) pilot. Taking a comprehensive approach to enabling these children to access foundational education, our funding trained teachers, provided learning materials, and helped to strengthen the capacity of the Ministry of Education. TaRL groups children based on their current learning ability rather than grade level, and promotes a joyful, collaborative and creative classroom environment tailored to each child’s needs.
The impact on learning outcomes has been outstanding. Children are rapidly gaining essential literacy and numeracy skills. Initially, more than 34% of children could not recognise a single letter, and over 33% could not identify a number. After just over five months, over 61% can now read a paragraph or story, while 51% successfully tackle simple maths problems. Additionally, our support helped to train 32 Master Trainers who have gone on to educate 600 teachers in IDP settlement schools, ensuring a lasting legacy of improved foundational education in these settings.
These impressive pilot results have generated strong interest, and we hope that with the data from the pilot, Street Child can secure multi-million Dollar funding to expand the programme to reach between 79,000 - 108,000 primary-aged children across Somalia. Our role in pilot funding, a grant of £43,500, has already enabled Street Child to leverage funding from UNICEF to achieve further funding of £318,724.
FROM BABIES WITH LOVE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
5
FINANCIAL REVIEW
Financial position
The total net incoming resources for the year amounted to £147,386 (2023: £90,613) and outgoings to £147,051 (2023: £100,801).
Reserves policy
The From Babies with Love Foundation’s reserves policy is that the unrestricted reserve level at the balance sheet date should normally be equal to the value of shares invested in the subsidiary company From Babies with Love Trading Ltd plus a nominal value to cover anticipated expenditure from unrestricted funds for the following year. Unrestricted reserves at the end of 2024 fell within the terms of the policy. The From Babies with Love Foundation recognises that it may be appropriate to allow the reserve to fluctuate as a result of short term cash inflows and outflows.
Risk Review
The Trustees have conducted their own review of the major risks to which the charity is exposed and systems have been established to manage those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
Future Plans
The From Babies with Love Foundation is committed to expanding its global impact by deepening partnerships and scaling initiatives that align with its mission. Future plans include developing innovative educational resources for HR leaders and launching further employee appreciation gift services. We aim to grow our HR networks, fostering collaboration among HR professionals and building our partnerships.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Status
The organisation is a charitable company limited by guarantee, incorporated on 18 November 2011 and registered as a charity on 29 December 2011. The company was established under a Memorandum of Association, which established the objectives and powers of the charitable company and is governed under its Articles of Association. The Members have guaranteed to contribute a maximum of £5 each in the event of the company being wound up.
Organisational structure
The activities of the charity are advised and monitored by the Board of Trustees who meet regularly to set the strategic direction of the organisation and for establishing policy. They also ensure that the charity fulfils its objectives and complies with the requirements of the Charities Commission. The day-to day management of the charity is delegated by the Board of Trustees to Cecilia Crossley.
Recruitment and appointment of new trustees
New Trustees join the Board at the invitation of the Board and are chosen with the view to ensuring that the Board contains an appropriate balance of experience relevant to the operations of the charity. Trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decisionmaking processes, the business plan, policies and financial procedures and the recent financial performance of the charity.
FROM BABIES WITH LOVE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
6
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 7853033
Registered Charity number
1145234
Registered office
10 Longcroft Avenue Harpenden AL5 2QZ
Trustees
Mrs C Crossley Mr D Crossley Mrs H Field Mr M Kelly (resigned 20 September 2024) Mr N Thomas Mr A Zia (resigned 20 September 2024)
Independent examiner
Dr Shona Wardrop C.A. Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Bankers
Santander Bootle L30 4GB
FROM BABIES WITH LOVE FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024
7
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees (who are also the directors of From Babies with Love Foundation for the purposes of company law) 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 those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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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 prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 28 January 2025 and signed on its behalf by:
Mrs C Crossley, Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FROM BABIES WITH LOVE FOUNDATION
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Independent examiner's report to the trustees of From Babies with Love Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 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 giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Dr Shona Wardrop C.A. Institute of Chartered Accountants in Scotland Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Date: 28 January 2025
FROM BABIES WITH LOVE FOUNDATION
9
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2024
| 2024 2023 Unrestricted funds Unrestricted funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations 2 146,911 90,407 Interest income 475 206 Total 147,386 90,613 EXPENDITURE ON Charitable activities 3 147,051 100,801 NET INCOME/(EXPENDITURE) 335 (10,188) RECONCILIATION OF FUNDS Total funds brought forward 91,020 101,208 TOTAL FUNDS CARRIED FORWARD 91,355 91,020 CONTINUING OPERATIONS |
2024 2023 Unrestricted funds Unrestricted funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations 2 146,911 90,407 Interest income 475 206 Total 147,386 90,613 EXPENDITURE ON Charitable activities 3 147,051 100,801 NET INCOME/(EXPENDITURE) 335 (10,188) RECONCILIATION OF FUNDS Total funds brought forward 91,020 101,208 TOTAL FUNDS CARRIED FORWARD 91,355 91,020 CONTINUING OPERATIONS |
2024 2023 Unrestricted funds Unrestricted funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations 2 146,911 90,407 Interest income 475 206 Total 147,386 90,613 EXPENDITURE ON Charitable activities 3 147,051 100,801 NET INCOME/(EXPENDITURE) 335 (10,188) RECONCILIATION OF FUNDS Total funds brought forward 91,020 101,208 TOTAL FUNDS CARRIED FORWARD 91,355 91,020 CONTINUING OPERATIONS |
|---|---|---|
| 91,020 | ||
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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FROM BABIES WITH LOVE FOUNDATION (REGISTERED NUMBER: 7853033)
BALANCE SHEET
AT 30 APRIL 2024
| 2024 2023 Unrestricted funds Unrestricted funds Notes £ £ FIXED ASSETS Investments 7 90,000 90,000 CURRENT ASSETS Debtors 8 590 590 Cash at bank 2,565 1,030 3,155 1,620 CREDITORS Amounts falling due within one year 9 (1,800) (600) NET CURRENT ASSETS 1,355 1,020 TOTAL ASSETS LESS CURRENT LIABILITIES 91,355 91,020 NET ASSETS 91,355 91,020 FUNDS 10 Unrestricted funds: General fund 91,355 91,020 TOTAL FUNDS 91,355 91,020 |
2024 2023 Unrestricted funds Unrestricted funds Notes £ £ FIXED ASSETS Investments 7 90,000 90,000 CURRENT ASSETS Debtors 8 590 590 Cash at bank 2,565 1,030 3,155 1,620 CREDITORS Amounts falling due within one year 9 (1,800) (600) NET CURRENT ASSETS 1,355 1,020 TOTAL ASSETS LESS CURRENT LIABILITIES 91,355 91,020 NET ASSETS 91,355 91,020 FUNDS 10 Unrestricted funds: General fund 91,355 91,020 TOTAL FUNDS 91,355 91,020 |
2024 2023 Unrestricted funds Unrestricted funds Notes £ £ FIXED ASSETS Investments 7 90,000 90,000 CURRENT ASSETS Debtors 8 590 590 Cash at bank 2,565 1,030 3,155 1,620 CREDITORS Amounts falling due within one year 9 (1,800) (600) NET CURRENT ASSETS 1,355 1,020 TOTAL ASSETS LESS CURRENT LIABILITIES 91,355 91,020 NET ASSETS 91,355 91,020 FUNDS 10 Unrestricted funds: General fund 91,355 91,020 TOTAL FUNDS 91,355 91,020 |
|---|---|---|
| 91,020 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 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 trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit 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 charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies. The financial statements were approved by the Board of Trustees on 28 January 2025 and were signed on its behalf by:
Mrs C Crossley, Trustee
The notes form part of these financial statements
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FROM BABIES WITH LOVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
11
1. ACCOUNTING POLICIES
Accounting basis and standards: The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future, and on that basis the charity is considered to be a going concern.
The financial statements are prepared in sterling which is the functional currency of the entity, and are rounded to the nearest £1.
Income: All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure: Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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.
Taxation: The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Funds: Unrestricted Funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Investments: The subsidiary company is valued at cost.
Judgements and key sources of estimation uncertainty: In the application of the charity's accounting policies, the charity is required to make judgments, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both the current and future periods.
Financial instruments: The charity has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value with the exception of bank loans which are measured at amortised cost using the effective interest method.
Financial Assets: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any discounts due.
Financial Liabilities: Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.
FROM BABIES WITH LOVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024
12
2. DONATIONS
| Donations DIRECT COSTS OF CHARITABLE ACTIVITIES Grants to charities Bank charges Independent Examination Fees NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Independent Examiner's fee |
2024 £ 146,911 146,911 2024 £ 145,850 1 1,200 147,051 2024 £ 1,200 |
2023 £ 90,407 90,407 2023 £ 99,900 1 900 100,801 2023 £ 900 |
||
|---|---|---|---|---|
3. DIRECT COSTS OF CHARITABLE ACTIVITIES
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
5. TRUSTEES' REMUNERATION AND BENEFITS
During the year, no Trustee received any remuneration or benefits (2024: Nil) nor were any reimbursed for any expenses. (2023: Nil).
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FROM BABIES WITH LOVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2024
13
6. PRIOR YEAR COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations Interest income Total EXPENDITURE ON Charitable activities Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 7. INVESTMENTS Cost with no provision for impairment at the beginning of the period Realised and unrealised gains / (losses) Cost with no provision for impairment at 30 April 2024 |
Unrestricted Funds 90,407 206 90,613 100,802 100,802 (10,188) 101,208 - 91,020 2024 2023 £ £ 90,000 90,000 - - 90,000 90,000 |
Unrestricted Funds 90,407 206 90,613 100,802 100,802 (10,188) 101,208 - 91,020 2024 2023 £ £ 90,000 90,000 - - 90,000 90,000 |
|---|---|---|
| 90,000 |
| The market value at 30 April 2024 comprises £90,000 held in From Babies With Love Trading Ltd. From Babies with Love Trading Ltd is a subsidiary company (refer note 12). 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Rent deposit and other debtors 590 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Accruals 1,200 |
2023 £ 590 |
|---|---|
| 2023 £ 600 |
13
FROM BABIES WITH LOVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2024
14
10. MOVEMENT IN FUNDS
| Net movement | |||
|---|---|---|---|
| At 1/5/23 | in funds | At 30/04/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 91,020 |
335 | 91,355 | |
| TOTAL FUNDS 91,020 |
335 | 91,355 | |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 147,386 |
(147,051) | 355 | |
| TOTAL FUNDS 147,386 |
(147,051) | 355 | |
| Comparatives for movement in funds | |||
| Net movement | |||
| At 1/5/22 | in funds | At 30/04/23 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund 101,208 |
(10,188) | 91,020 | |
| TOTAL FUNDS 101,208 |
(10,188) | 91,020 | |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 90,613 |
(100,802) | (10,188) | |
| TOTAL FUNDS 90,613 |
(100,802) | (10,188) |
11. RELATED PARTY DISCLOSURES
There were no related party transactions (2023: Nil).
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FROM BABIES WITH LOVE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2024
15
12. SUBSIDIARY COMPANY
| Ordinary £1 Shares in subsidiary company | 2024 £ 90,000 |
2023 £ 90,000 |
|---|---|---|
From Babies with Love Trading Ltd (company number: 07906449 and registered office the same as From Babies with Love Foundation) is wholly owned by the From Babies with Love Foundation and is registered in England and Wales. As at 30 April 2024 the investment in From Babies With Love Trading Ltd was £90,000.
The principal activity of the subsidiary is to sell gifts for the purpose of raising funds for the parent charity.
Profits made by the subsidiary are transferred by Gift Aid to the parent charity.
A summary of the results of From Babies with Love Trading Ltd is show below. Full accounts will be filed with the Registrar of Companies. Consolidated accounts are not required as consolidated income does not exceed £1m.
| Profit & Loss account Turnover Total expenditure Net Profit Donation paid to the From Babies with Love Foundation Retained profit for the period Balance Sheet Net assets |
2024 2023 £ £ 837,741 673,994 692,272 579,000 |
|---|---|
| 145,468 94,994 145,326 73,657 |
|
| 142 21,337 |
|
| 152,808 152,666 |
15