**REGISTERED COMPANY NUMBER: 08112847 (England and Wales) REGISTERED CHARITY NUMBER: 1148956**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2020
for
Your Kids Around The World
The Tax Team Limited Omega Court 368 Cemetery Road SHEFFIELD S11 8FT
Your Kids Around The World
Contents of the Financial Statements for the Year Ended 31 October 2020
|||Page||
|---|---|---|---|
|Reference and Administrative Details||1||
|Report of the Trustees|2|to|3|
|Independent Examiner's Report||4||
|Statement of Financial Activities||5||
|Balance Sheet||6||
|Notes to the Financial Statements|7|to|12|
|Detailed Statement of Financial Activities|13|to|14|
Your Kids Around The World
Reference and Administrative Details for the Year Ended 31 October 2020
**TRUSTEES** Mrs C H Goodison Mrs W M Holmes Ms A L Gardner Mr D Butters Mrs S M Booker Mrs C L Dodds (resigned 25.9.2020) Mrs M L Loveley **REGISTERED OFFICE** 708 Chesterfield Road Sheffield South Yorkshire S8 0SD **REGISTERED COMPANY** 08112847 (England and Wales) **NUMBER REGISTERED CHARITY** 1148956 **NUMBER INDEPENDENT EXAMINER** The Tax Team Limited Omega Court 368 Cemetery Road SHEFFIELD S11 8FT
Page 1
Your Kids Around The World
for the Year Ended 31 October 2020
## Report of the Trustees
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 31 October 2020. 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**
## **Mission Statement, and Activities for the Public Benefit**
The principal activity of the charity is the alleviation of poverty in various countries around the world by providing grants, items and services to individuals or charities or other organisations.
The charity provides public benefit locally in Sheffield by the public being able to purchase quality goods at reduced prices. And overseas, children benefit by having their basic needs met.
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievements and Performance**
It's been a difficult year with the shop being closed for 4 months because of Covid lockdown. However we began and developed a 'click and collect' service which brought in a trickle of income. Government grants and staff furlough payments covered the majority of our expenses. We were disappointed that the Landlord would not allow any discount on rent payable. Despite all the problems to be overcome we maintained our level of giving to our overseas beneficiaries.
## Future Plans:
Covid still restricts trading so on line sales have been increased. When allowed to re-open we hope to increase our sales by more advertising. Our current lease expires in October so all possibilities are being explored for the continuation of our charity.
£42,250 was donated to the organisations we support, making a total since opening of £346,000.
## **FINANCIAL REVIEW**
## **Reserves Policy**
A contingency fund of £10,000 has remained in tact throughout the year.
## **Review for the Year**
Total income was £84,084 and financial donations amounted to £42,250, distributed as follows:
International China Concern £13,000 Philippine Outreach Centre £13,200 Mercy Ships £2,000 Helping Hands £4,000 Alive Ministries £2,000 Links International £3,000 Justice and Care £3,050 Caring in Crisis £1,000 Little Voices £1,000
## **FUTURE PLANS**
A decision must be taken this financial year as to whether we renew the shop lease which expires in October 2021 or seek new premises.
Training of the shop managers will continue for the present.
Other outlets will be sought for our excess stock - particularly bulky items of baby equipment.
We continue our efforts to recruit new volunteers.
Page 2
Your Kids Around The World
for the Year Ended 31 October 2020
## Report of the Trustees
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The charity is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association incorporated on 20 June 2012
The Charity has a Management Committee who are responsible for its governance. The Trustees, who are also directors for the purposes of company law, may appoint additional members to fill vacancies or to bring additional skills and experience to the Management Committee.
Trustee meetings are held three or four times per year with an appointed chair person. As part of this group there is a Chairman, Vice-Chairman, Secretary, Treasurer, and two other Trustees.
Trustees are elected on the basis that they have appropriate skills and knowledge and understand the responsibilities of Charity Trustees. To that end there is an Induction Programme which aims to provide information about the nature and work of the Charity and its methods of operation. Trustees are encouraged to attend training courses to support and enhance their role.
## **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.
The Trustees, with advice, have assessed the risks to which the Charity or its staff and volunteers might be exposed, and have taken steps to ensure that those risk are minimised, that systems are in place to mitigate them, and that they are kept under review. At operational level, risks are minimised by regular training and familiarisation courses, some provided in-house and some bought in from professional trainers. More fundamental business risks are assessed as part of the Reserves Policy which the Charity has established, and which is reviewed annually.
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 order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs W M Holmes - Trustee
Page 3
Independent Examiner's Report to the Trustees of Your Kids Around The World
## **Independent examiner's report to the trustees of Your Kids Around The World ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2020.
## **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:
1. 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
3. 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
4. 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.
Tim Barlow FMAAT ATT The Tax Team Limited Omega Court 368 Cemetery Road SHEFFIELD S11 8FT Date: .............................................
Page 4
Your Kids Around The World
## Statement of Financial Activities
## (Incorporating an Income and Expenditure Account) for the Year Ended 31 October 2020
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
11,481
Other trading activities
2
58,965
Other income
13,638
**Total**
84,084
**EXPENDITURE ON**
Raising funds
743
**Charitable activities**
3
Charitable Donations
42,250
Other Charitable Expenditure
39,491
**Total**
82,484
**NET INCOME/(EXPENDITURE)**
1,600
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
10,040
**TOTAL FUNDS CARRIED FORWARD**
11,640|Restricted
fund
£
-
-
-
-
-
-
-
-
-
1,000
1,000|2020
Total
funds
£
11,481
58,965
13,638
84,084
743
42,250
39,491
82,484
1,600
11,040
12,640|2019
Total
funds
£
20,492
80,600
-
101,092
693
56,000
47,253
103,946
(2,854)
13,894
11,040|
|---|---|---|---|
The notes form part of these financial statements
Page 5
Your Kids Around The World
## Balance Sheet
## 31 October 2020
|Unrestricted
Restricted
fund
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
9
362
-
**CURRENT ASSETS**
Prepayments and accrued income
109
-
Cash at bank and in hand
12,206
1,000
12,315
1,000
**CREDITORS**
Amounts falling due within one year
10
(1,037)
-
**NET CURRENT ASSETS**
11,278
1,000
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
11,640
1,000
**NET ASSETS**
11,640
1,000
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2020
Total
funds
£
362
109
13,206
13,315
(1,037)
12,278
12,640
12,640
11,640
1,000
12,640|2019
Total
funds
£
-
580
11,487
12,067
(1,027)
11,040
11,040
11,040
10,040
1,000
11,040|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 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 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 provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mrs W M Holmes - Trustee
The notes form part of these financial statements
Page 6
Your Kids Around The World
Notes to the Financial Statements for the Year Ended 31 October 2020
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
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.
## **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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Finance and operating leases**
Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period they are incurred
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. OTHER TRADING ACTIVITIES**
|Shop income
Bank interest received|2020
£
58,951
14
58,965|2019
£
80,574
26|
|---|---|---|
|||80,600|
continued...
Page 7
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
## **3. CHARITABLE ACTIVITIES COSTS**
|Charitable Donations
Other Charitable Expenditure
**4.**
**GRANTS PAYABLE**
Charitable Donations
The total grants paid to institutions during the year wa
International China Concern
Philippine Outreach Centre
Mercy Ships
Little Voices
Helping Hands Healing Hearts
Alive Ministries
Links International
Justice and Care
Nepal
Caring in Crisis
**5.**
**NET INCOME/(EXPENDITURE)**|Grant
funding of
activities
Direct
(see note
Costs
4)
£
£
-
42,250
19,607
-
19,607
42,250
s as follows:|Support
costs
£
-
19,884
19,884
2020
£
42,250
2020
£
13,000
13,200
2,000
1,000
4,000
2,000
3,000
3,050
-
1,000
42,250|Totals
£
42,250
39,491|
|---|---|---|---|
||||81,741|
||||2019
£
56,000|
||||2019
£
10,500
11,500
11,500
-
3,000
4,000
1,000
3,000
11,500
-|
||||56,000|
|||||
Net income/(expenditure) is stated after charging/(crediting):
||2020|2019|
|---|---|---|
||£|£|
|Depreciation - owned assets|90|-|
|Hire of plant and machinery|803|765|
|Independent examiners fees|790|790|
|Property lease costs|10,000|10,000|
|Charitable donations|42,250|56,000|
continued...
Page 8
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 October 2020 nor for the year ended 31 October 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 October 2020 nor for the year ended 31 October 2019.
## **7. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **8.**
|Shop managers
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
7,992
Other trading activities
80,600
**Total**
88,592
**EXPENDITURE ON**
Raising funds
693
**Charitable activities**
Charitable Donations
44,500
Other Charitable Expenditure
47,253
**Total**
92,446
**NET INCOME/(EXPENDITURE)**
(3,854)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
13,894
**TOTAL FUNDS CARRIED FORWARD**
10,040|2020
2
Restricted
fund
£
12,500
-
12,500
-
11,500
-
11,500
1,000
-
1,000|2019
2
Total
funds
£
20,492
80,600
101,092
693
56,000
47,253
103,946
(2,854)
13,894
11,040|
|---|---|---|
continued...
Page 9
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
## **9. TANGIBLE FIXED ASSETS**
|**9.**|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|---|
||||||Fixtures|
||||||and|
||||||fittings|
||||||£|
||**COST**|||||
||At 1 November 2019||||3,307|
||Additions||||452|
||At 31 October 2020||||3,759|
||**DEPRECIATION**|||||
||At 1 November 2019||||3,307|
||Charge for year||||90|
||At 31 October 2020||||3,397|
||**NET BOOK VALUE**|||||
||At 31 October 2020||||362|
||At 31 October 2019||||-|
|**10.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE**|**YEAR**||||
||||2020||2019|
||||£||£|
||Other creditors||1,037||1,027|
|**11.**|**MOVEMENT IN FUNDS**|||||
||||Net|||
|||At|movement||At|
|||1.11.19|in funds||31.10.20|
|||£|£||£|
||**Unrestricted funds**|||||
||General fund|10,040|1,600||11,640|
||**Restricted funds**|||||
||Alison Ralston - Nepal|1,000||-|1,000|
||**TOTAL FUNDS**|11,040|1,600||12,640|
||Net movement in funds, included in the above are as follows:|||||
|||Incoming|Resources||Movement|
|||resources|expended||in funds|
|||£|£||£|
||**Unrestricted funds**|||||
||General fund|84,084|(82,484)||1,600|
||**TOTAL FUNDS**|84,084|(82,484)||1,600|
continued...
Page 10
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
## **11. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|At
1.11.18
£
**Unrestricted funds**
General fund
13,894
**Restricted funds**
Alison Ralston - Nepal
-
**TOTAL FUNDS**
13,894
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
88,592
**Restricted funds**
Alison Ralston - Nepal
12,500
**TOTAL FUNDS**
101,092
A current year 12 months and prior year 12 months combined position is as follows:
At
1.11.18
£
**Unrestricted funds**
General fund
13,894
**Restricted funds**
Alison Ralston - Nepal
-
**TOTAL FUNDS**
13,894|Net
movement
At
in funds
31.10.19
£
£
(3,854)
10,040
1,000
1,000
(2,854)
11,040
Resources
Movement
expended
in funds
£
£
(92,446)
(3,854)
(11,500)
1,000
(103,946)
(2,854)
Net
movement
At
in funds
31.10.20
£
£
(2,254)
11,640
1,000
1,000
(1,254)
12,640|
|---|---|
continued...
Page 11
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2020
## **11. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|172,676|(174,930)|(2,254)|
|**Restricted funds**||||
|Alison Ralston - Nepal|12,500|(11,500)|1,000|
|**TOTAL FUNDS**|185,176|(186,430)|(1,254)|
## **12. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 October 2020.
## **13. LIMITED BY GUARANTEE**
The directors have each guaranteed to pay £10 each in the event of the company being wound up.
## **14. RESTRICTED FUNDS**
Restricted funds of £1,000 represent £12,500 received from Alison Ralston in the year to 31 October 2019 less the £11,500 donated to Nepal in the year to 31 October 2019.
Page 12
Your Kids Around The World
## Detailed Statement of Financial Activities for the Year Ended 31 October 2020
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Other trading activities**
Shop income
Bank interest received
**Other income**
Covid grant
Job retention scheme
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Direct expenses
**Charitable activities**
Hire of plant and machinery
Rates and water
Insurance
Light and heat
Telephone
Sundries
Rent
Repairs and maintenance
Health and safety costs
Bank charges
Depreciation
Printing, postage & stationery
Travel costs
Grants to institutions
**Support costs**
**Management**
Wages
Pensions|2020
£
2,505
8,976
11,481
58,951
14
58,965
10,000
3,638
13,638
84,084
743
803
351
1,078
873
700
1,277
10,000
698
749
720
90
1,886
382
42,250
61,857
18,771
323
19,094|2019
£
14,004
6,488|
|---|---|---|
|||20,492
80,574
26|
|||80,600
-
-|
|||-|
|||101,092
693
765
850
756
1,268
649
1,945
10,000
2,816
1,250
802
-
1,934
-
56,000|
|||79,035
23,244
184|
|||23,428|
This page does not form part of the statutory financial statements
Page 13
Your Kids Around The World
Detailed Statement of Financial Activities for the Year Ended 31 October 2020
|**Management**
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income/(expenditure)**|2020
£
790
82,484
1,600|2019
£
790
103,946
(2,854)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14