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 2021
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 2021
| 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 2021
TRUSTEES Mrs C H Goodison Mrs W M Holmes Ms A L Gardner Mr D Butters Mrs S M Booker Mrs C L Dodds (appointed 17.6.2021) Mrs M L Loveley REGISTERED OFFICE 763 Chesterfield Road Sheffield South Yorkshire S8 0SP 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 2021
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 2021. 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
Despite difficulties caused by COVID closures, we maintained some level of trading during lockdown by online selling. The time was also used to assess current stock and re-organise. When opening the shop was possible, trade was very brisk and sales figures were higher than normal.
Government grants enabled us to meet all our essential expenditure including full payment of rent during this period which the landlord demanded.
27 cartons of aid, including clothes, shoes and educational materials, were sent to the children's homes in the Philippines.
Considering the difficulties experienced by all, a successful year was achieved.
The role of Chairperson transferred from Wendy Holmes to Michelle Loveley on 1st October 2021. Wendy remains on the board as an active Trustee.
£31,000 was donated to the organisations we support, making a total since opening of £377,000.
FINANCIAL REVIEW
Reserves Policy
A contingency fund of £10,000 has remained in tact throughout the year.
Review for the Year
Total income was £95,918 and financial donations amounted to £31,000, distributed as follows:
International China Concern £4,500 Philippine Outreach Centre £15,000 Helping Hands £3,750 Alive Ministries £1,000 Links International £750 Justice and Care £2,500 Caring in Crisis £2,750 Little Voices £750
FUTURE PLANS
We have negotiated a 9 year lease commencing 10 December 2021 for premises at 763 Chesterfield Rd, S8 0SP. Considerable work will need to be undertaken to make the premises fit for purpose. These premises are 600sq ft larger and all on one level. The lease on 708 Chesterfield Road ended 25 October 2021 but we were still in the property and paying rent until 10 May 2022.
We continue in our drive to recruit more volunteers.
Page 2
Your Kids Around The World
for the Year Ended 31 October 2021
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 M L Loveley - 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 2021.
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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 2021
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 10,355 - Other trading activities 2 66,653 - Other income 18,910 - Total 95,918 - EXPENDITURE ON Raising funds 783 - Charitable activities 3 Charitable Donations 31,414 - Other Charitable Expenditure 44,467 - Total 76,664 - NET INCOME 19,254 - Transfers between funds 12 1,000 (1,000) Net movement in funds 20,254 (1,000) RECONCILIATION OF FUNDS Total funds brought forward 11,640 1,000 TOTAL FUNDS CARRIED FORWARD 31,894 - |
2021 Total funds £ 10,355 66,653 18,910 95,918 783 31,414 44,467 76,664 19,254 - 19,254 12,640 31,894 |
2020 Total funds £ 11,481 58,965 13,638 |
|---|---|---|
| 84,084 743 42,250 39,491 |
||
| 82,484 | ||
| 1,600 - |
||
| 1,600 11,040 |
||
| 12,640 |
The notes form part of these financial statements
Page 5
Your Kids Around The World
Balance Sheet
31 October 2021
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 9 2,665 - CURRENT ASSETS Prepayments and accrued income 324 - Cash at bank and in hand 30,031 - 30,355 - CREDITORS Amounts falling due within one year 10 (1,126) - NET CURRENT ASSETS 29,229 - TOTAL ASSETS LESS CURRENT LIABILITIES 31,894 - NET ASSETS 31,894 - FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
2021 Total funds £ 2,665 324 30,031 30,355 (1,126) 29,229 31,894 31,894 31,894 - 31,894 |
2020 Total funds £ 362 109 13,206 13,315 (1,037) 12,278 12,640 12,640 11,640 1,000 12,640 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 M L Loveley - 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 2021
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 |
2021 £ 66,653 - 66,653 |
2020 £ 58,951 14 |
|---|---|---|
| 58,965 |
continued...
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Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2021
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 Caring in Crisis 5. NET INCOME/(EXPENDITURE) |
Grant funding of activities Direct (see note Costs 4) £ £ 414 31,000 20,291 - 20,705 31,000 s as follows: |
Support costs £ - 24,176 24,176 2021 £ 31,000 2021 £ 4,500 15,000 - 750 3,750 1,000 750 2,500 2,750 31,000 |
Totals £ 31,414 44,467 |
|---|---|---|---|
| 75,881 | |||
| 2020 £ 42,250 |
|||
| 2020 £ 13,000 13,200 2,000 1,000 4,000 2,000 3,000 3,050 1,000 |
|||
| 42,250 | |||
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 689 | 90 |
| Hire of plant and machinery | 904 | 803 |
| Independent examiners fees | 810 | 790 |
| Property lease costs | 10,000 | 10,000 |
| Charitable donations | 31,000 | 42,250 |
continued...
Page 8
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2021
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 October 2021 nor for the year ended 31 October 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 October 2021 nor for the year ended 31 October 2020.
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 11,481 Other trading activities 58,965 Other income 13,638 Total 84,084 EXPENDITURE ON Raising funds 743 Charitable activities Charitable Donations 42,250 Other Charitable Expenditure 39,491 Total 82,484 NET INCOME 1,600 RECONCILIATION OF FUNDS Total funds brought forward 10,040 TOTAL FUNDS CARRIED FORWARD 11,640 |
2021 3 Restricted fund £ - - - - - - - - - 1,000 1,000 |
2020 2 Total funds £ 11,481 58,965 13,638 84,084 743 42,250 39,491 82,484 1,600 11,040 12,640 |
2020 2 Total funds £ 11,481 58,965 13,638 84,084 743 42,250 39,491 82,484 1,600 11,040 12,640 |
|---|---|---|---|
| 84,084 743 42,250 39,491 |
|||
| 82,484 | |||
| 1,600 11,040 |
|||
| 12,640 |
continued...
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Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2021
9. TANGIBLE FIXED ASSETS
Additions to Fixed Assets £2,992. This is cost of EPOS system at £5,705 less grant received of £2,713.
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Other creditors | 1,126 | 1,037 |
11. LEASING AGREEMENTS
Operating Lease Commitments
Under a nine year lease dated 10 December 2021, for the property at 763 Chesterfield Road, Sheffield, the charity agreed an initial rent of £16,000 per annum (exclusive of VAT). The lease is subject to a 3 yearly break clause.
12. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| At | movement | between | At | |
| 1.11.20 | in funds | funds | 31.10.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 11,640 | 19,254 | 1,000 | 31,894 |
| Restricted funds | ||||
| Alison Ralston - Nepal | 1,000 | - | (1,000) | - |
| TOTAL FUNDS | 12,640 | 19,254 | - | 31,894 |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 95,918 | (76,664) | 19,254 | |
| TOTAL FUNDS | 95,918 | (76,664) | 19,254 |
continued...
Page 10
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2021
12. MOVEMENT IN FUNDS - continued
Comparatives for 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 | |
| Comparative 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 | |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net | Transfers | |||
| At | movement | between | At | |
| 1.11.19 | in funds | funds | 31.10.21 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 10,040 | 20,854 | 1,000 | 31,894 |
| Restricted funds | ||||
| Alison Ralston - Nepal | 1,000 | - | (1,000) | - |
| TOTAL FUNDS | 11,040 | 20,854 | - | 31,894 |
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 | 180,002 | (159,148) | 20,854 |
| TOTAL FUNDS | 180,002 | (159,148) | 20,854 |
continued...
Page 11
Your Kids Around The World
Notes to the Financial Statements - continued for the Year Ended 31 October 2021
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 October 2021.
14. LIMITED BY GUARANTEE
The directors have each guaranteed to pay £10 each in the event of the company being wound up.
15. RESTRICTED FUNDS
Restricted funds of £1,000 brought forward represents £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. The remaining £1,000 has been released into general funds, at the approval of Alison Ralston during the year ended 31 October 2021.
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Your Kids Around The World
Detailed Statement of Financial Activities for the Year Ended 31 October 2021
| Detailed Statement of Financial Activities for the Year Ended 31 October 2021 |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 3,952 | 2,505 |
| Gift aid | 6,403 | 8,976 |
| 10,355 | 11,481 | |
| Other trading activities | ||
| Shop income | 66,653 | 58,951 |
| Bank interest received | - | 14 |
| 66,653 | 58,965 | |
| Other income | ||
| Covid grant | - | 10,000 |
| Job retention scheme | 18,910 | 3,638 |
| 18,910 | 13,638 | |
| Total incoming resources | 95,918 | 84,084 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Direct expenses | 783 | 743 |
| Charitable activities | ||
| Hire of plant and machinery | 904 | 803 |
| Rates and water | 286 | 351 |
| Insurance | 1,137 | 1,078 |
| Light and heat | 765 | 873 |
| Telephone | 669 | 700 |
| Sundries | 1,965 | 1,277 |
| Rent | 10,000 | 10,000 |
| Repairs and maintenance | 803 | 698 |
| Health and safety costs | 1,285 | 749 |
| Bank charges | 828 | 720 |
| Depreciation | 689 | 90 |
| Printing, postage & stationery | 1,103 | 1,886 |
| Travel costs | 271 | 382 |
| Grants to institutions | 31,000 | 42,250 |
| 51,705 | 61,857 | |
| Support costs | ||
| Management | ||
| Wages | 22,882 | 18,771 |
| Pensions | 484 | 323 |
| 23,366 | 19,094 |
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 2021
| Detailed Statement of Financial Activities for the Year Ended 31 October 2021 |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Management | ||
| Governance costs | ||
| Accountancy and legal fees | 810 | 790 |
| Total resources expended | 76,664 | 82,484 |
| Net income | 19,254 | 1,600 |
This page does not form part of the statutory financial statements
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