KHG FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Registered Charity Number J 155184 ROSEIYTHAL & CO Chartered Accountants 74 WhitebaRI Road Gateshead Tyne & Wear NE8 4ET
KHG CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Members of the Board and Professional Advisors Report ot. the Trustees Independent Examiner's Report Statement of financial activities 2to4 Balance sheet Notes to the financial statements 8tolO
KHG MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS Registered Charity number 1155184 Principal oifice 3 7 CJrasmere Street West Gateshead NE8 ITS Trustees D.BOWDEN J.KLAJN E.LIEBERMAN I.STROH Independent Examiner Rosenthal & Co. 74 Whilehall Road Gateshead T>'ne & Wear NE8 4ET Bankers LLOYDS BANK 17 F.Ilison Walk Gateshead Tyne & Wear NE8 IBF
KHG TRUSTEES, ANNUAL REPORT 31 DECEMBER 2024 The trustees present thcir report with the financial statements of the charity for the year ended 31 December 2024. REFERENCE AND ADMtNISTII4TIVE DETAILS Reference and administrative details are shown in the schedule of members of the board and professional advisers on page l of the financial statements. THE TRUSTEES The trustees who served the trust during the period were as follows.. D.Bi)wden J.Klajn E.Lieb¢m]an l.Stroh The Trust's day to day activities are administered by the trustees. as the Trust emploj's no staff. The trustees, Ivho receive no remuneration t.or their services. are solely responsible for the consideration and authorisation of the charitable grants and donations made by the Trust. Appointment of trustees is governed by the Trust Deed of the charity. The trustees have the power to appoiiit further trustces by a simple majority voting system. A suitable eandidate would be someone who is sensitiwe to the nceds and demands of the organisation. -rhe trustees are authorised to fill the vacancies arising through resignation or death of an existing trust¢¢. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document KI4G is constituted under a deed dated 30 December 2013 and registered as a charitv 6 January 2014. The Charity is controlled by its governing document, a dccd of trust, and constitutes an unin¢orporcqted charity. Risk Management Thc trustees have a duty to identify and review the risks to which the charity is exposed, and io ensure appropriate controls ar¢ in place to provide reasonable assurance against fraud and error.
KHG TRIJSTF.ES' ANNUAL REPORT(¢0 iinued) 31 DECEMBER 2024 OBJECTIVES AND ACTIVITIES Objectives and ainis The objective of the charity is for the relief of poverty of people living in Gateshead. The charity makes regular appeals and utilises the funds raised in the furtherance of its stated objectives. The trustees confirm that they hai'e referred to the guidance contained in the Cliarity Cominission's general ouidance on public benefit when revieiving the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year. Investment Policy The charity. does not have any investments nor does it plan to undertake anv invesimenl a¢tiviti¢s in the foreseeable future. Grant making policy Grants are made at the discretion of the trustees and in accordance with the objectives of tlie charity. I'he trustees liave unrestricted power to apply trust funds towards these charitable objectives. ACHIEVF.MENTS AND PERFORMANCE Charitable activities DLiring tlie year the charity had an excess of income over Cxpenditure. The details of the income and expenditure are shown in the Financial Statements. The financial results of the charity's activities for the period are fully reflected in the attached Financial Statements together with the notes thereon. FINANCLKL REVIEW Reserves Policy The trustees consider the financial results for the period to be satisfactory. FUTURE DEVELOPMENTS The trustees plan to continue to make distributions ftn accordance ivith their grant making polic>, and to ensure that the ability to generate sufficient income is maintained to achieve that end.
STATEEMENT OF TRUSTEES RESPONSIBILITIES The trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Sianddrds (United Kingydom Generally Accepted Accounting Practice). Th¢ law applicable to charities in England and Wales, the Charities Act 201 I, Charity {Accouiits and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial stateinents for each financial year which oive a true and fair wiew ot.tlie state of affairs of the cliariiy and of the incoming resour¢¢s and application of resources, including the income and expenditure, of thc Charity for that period. In preparing thos¢ financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. obseive the methods and principles in the Charities SORP. make j udgements and estimat¢s that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose ivith reasonable accuracy at an}, ttme the financial position of the charity and enable them to ensure that lh¢ fiiiancial slateinents comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguardiiig the assels of the charity and henLe for taking reasonable steps for the prevention and detection of fraud aiid othcr irregularities. INDEPENDENT EMMINER Roscnthal & Co. have been re-appointed as independent examiner for the ensuing year. Approved by order of the board of trustees 011 7 July 2025 and signed on ils behalf by: D.Bowden Trustee
KHG INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 I report on the financial statements of the charity for Ihe period ended 31 December 2024 sei out on pages 6 to 10. RESPF.CTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER The charilv'5 trustees are responsible for the preparation of the accounts. The charity's truste¢s consider that an audit is not required for this year under section 144 of the Charities Act 2011 {the Charities Act), and that an independent examination is needed. It is my responsibility to= examine the accounts under section 145 of the Charities Act; to follow the procedures laid doThTr in the General Directions given by the Charity Comm ission (under seciion 145{5)(b) of the Charities Act. and to state whether particular matters have coine to my atlention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT M J. examination was Caled 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 ot the accouiils presented with those records. It also includes consideration of any unusual items or di8c105ures in the dCLounis. and seeking explanations fvom you as trustees concerning an}, such mallers. The proccdures undertaken do noi provide all the evidence that would be required in an audil. and conscqucnily no opinion is given as to whether th¢ accounts present a 'true and fair view, and the report is limited to Ih05e mallers sel out ITI the statement below. INDEPENDENT EXAMINER'S STATEMENT In conneciion with my examination, no matter has come to my attention: which gives me reasonable cause to believe that, in any material respect, the requirements= to keep accounting records in accordance with section 130 of ihe Charities Aci io prepare accounts which accord with the accounting records and comply with the accounling requirements of the Charilies Act have not been met. or {2) to which, in my opinTon, attention should be drawn in order to enable a proper understandine of the accounls to be reached. Meir Rosenthal - Chartered Accountant Independent Examiner Rosenihal & Co. Chartered Accountants 74 Whitehall Road Gateshead Tyne & Wear NE8 4ET Date- 7 July 2025
KHG STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 TOTAL FL'NDS 31 DECEMBER 2024 2023 Notes INCOMING RESOURCES Incoining resources from generating funds: oluiitary Incom¢ 645346 390770 RESOURCES EXPENDED Charitable activities Donations Paid OÈlier ResourLes Expendcd TOTAL RESOURCES EXPENDED 406243 18666 331679 4249119 357046 NET INCOMING RESOURCES 220437 33724 TOTAL FUNDS BROUGHT FORWARD 121771 88047 TOTAL FUNDS CARRIED FORWARD 342208 121771
KHG BALANCE SHEET AT 31 DECEMBER 2024 Unrestricted Funds 2024 2023 Notes CURRENT ASSETS Cash at Bank 343408 122971 CURRENT ASSETS 343408 122971 CURRENT LIABILITIES 1200 1200 TOTAL ASSETS 342208 121771 FliNDS Unr¥Stricted Funds 342208 121771 TOTAL FliNDS 342208 12J771 'rhese finanLial statements were approved by the Board of Trustees on 7 July 20?5 and w'ere sigjned on its behalf bv: D.Bowden TRUSTEE The notes form parl of these financial statements.
KHG NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACcOUNTI,G POLICIES Basis of accounting The ftnancial statements have been prepared under the historical cost conveiition and in accordance witli applicable accounting standards, Charities Act 201 l and the requ ireinenls of ilie Stateinent of Recommended Practice, Accounting and Reporting by Charities. Incoming resources All incoming resources are included on the Statement of Financial Activities (SOI.'A) Ivhen the charity is legally entitled to the income and the amount can be quantified with r¢asciiiable accuracy. Resources expended F.xpenditure is accounted for on an accruals basis and has been classitied iiiidcr headii)(Y% that aogregate all cost related to the category. Wli¢r¢ costs cannot b¢ directlv attributed io Pc1rticiilar heddings they hai'e b¢en allocated to activities on a basis consistent wilh the use of resources. Taxation The charity is exempt from tax on its charitable activittes. Fund accounling Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees Furth¢r expl<lttation of the nature and purpose of each fund is included in the notes lo the financial statements. VOLUNTARY INCOME 2024 2023 Donations 645346 390770 CHAIUTABLE ACTIVITIES COSTS Grant fundin% activities (see Dote 4) Donations paid 406243 331679
KHG NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GRANTS PAYABLE 2024 2023 Donation.s paid 406243 331679 A list of the material grants made by the charity during the year is available on application in writing to the trustees at the principal office. 5. OTHER RESOURCES EXPENDF.D Management Fundraisingy costs Accountancy and Independent Examiners Fees 17466 i?00 18666 24167 i?00 25367 6. TRUSTEES REMUNERATION AND BENEFITS There were no irustees, remuneration or other benefits for the year ended 31 December 20?4. Trustees'expenses There were no trustees, expenses paid for the year ended 31 December 2024.
KHG NOTES TO THE FIIYANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUI¥DS As at 111124 Net movement in funds As al 31112124 Uni'estricted funds General Fund 121771 220437 342208 Net movement in funds included in the above are as follows: Incoming Resources Resources Expended Movement in Funds Unrestricted funds General fund 645346 424909 220437 TOTAL FUNDS 645346 424909 220437 -10-