## **Poverty Child Limited**
## **Financial Statements**
**For The Year Ended 30 September 2020**
**Company Number 08679269**
## **Poverty Child Limited Reference and Administrative Details**
**Charity Name** Poverty Child Limited **Company Number** 08679269 **Charity Number** 1159087 **Trustee's** Mr F Butt Mr M Sharif Mr A Lone **Accountant** Community Accounting Services Ltd 7 Napoleon Drive Shrewsbury SY3 5PH **Registered office** 83 Ducie Street Manchester M1 2JQ
## **Independent Examiner's Report to the Directors of Poverty Child Limited on the Accounts for the Year Ended 30 September 2020**
The trustees present their annual report and financial statements of the charity for the year ended 30 September 2020. The financial statements have been prepared in accordance with the Companies Act 2006 and the Charities SORP (FRS 102).
## **Structure, Governance and Management**
The organisation is a charitable company limited by guarantee, incorporated on 5 September 2013 and registered as a charity on 5 November 2014. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
## **Trustee selection methods**
The directors of the company are also charity trustees for the purposes of charity law and are elected at the Annual General Meeting.
## **Objectives and Activities**
The objectivites of the charity are to act as a resource for young people living in poverty up to the age of 18 living anywhere in the world by providing advice and assistance and organising programmes of physical, educational and other activies as a means of:
I Advancing in life and helping young people by developing their skills, capacaties and capabilities to enable them to particpate in society as independent, mature and responsible individuals; II Advancing education; III Relieving unemployment; IV Advancing health and well being; and V Providing recreational and leisure time activity in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
## **Achievements and Performance in the year**
The global pandemic caused much disruption to our work abroad as it did for many other charities. As a result, we turned inwards looking for opportunities to play our part in supporting children in the United Kingdom that were adversely impacted by Covid-19. We supported children of asylum families forced into quarantine during lockdown supplying them with toys donated to us by our supporters. We will continue to develop our work in the UK to help children affected by poverty.
Our income streams have continued to grow steadily thanks to new fundraising activity in the year and despite the pandemic. We expanded the list of items we can now accept through our recycling scheme in response to donor feedback and demand.
In-kind support from corporate partners continued, particularly Google who’s advertising grant remained our primary method of promoting our brand, programmes and fundraising activity.
Our volunteer programme has continued to flourish with volunteers supporting our marketing and communication activities.
## **Reserves Policy**
The charity has no restricted reserves. Unrestricted reserves are being grown to a level sufficient to start implementing our charitable activities.
## **Declaration**
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
**Mr A Lone Treasurer Date**
## **Independent Examiner's Report to the Directors of Poverty Child Limited on the Accounts for the Year Ended 30 September 2020**
## **Basis of independent examiner’s report**
We report on the accounts of Poverty Child Limited for the year ended 30 September 2020 which are set out on pages 2-9.
The trustee's (who are also the directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The trustee's consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 and that an independent examination is needed. It is our responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
- to state whether particular matters have come to our attention.
## **Basis of independent examiner’s statement**
Our examination was carried out in accordance with general directions for an independent examination. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below.
## **Independent examiner's statement**
In connection with our examination, no matter has come to our attention:
1. which gives us reasonable cause to believe that in, any material respect, the requirements
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recognised Practice: Accounting and Reporting of Charities
have not been met; or
2. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
**Community Accounting Services Ltd 7 Napoleon Drive Shrewsbury SY3 5PH**
**Date:** 04/06/2021
## **Poverty Child Limited Statement of Financial Activities for the Year Ended 30 September 2020**
|**Note**
**Incoming Resources**
Incoming resources from generated funds:
Voluntary income
**2**
**Total Incoming Resources**
**Resources Expended**
**3**
Charitable activities
Governance costs
**Total Resources Expended**
**Transfer Between Funds**
**Net (Outcoming) / Incoming Resources**
Fund balance brought forward at 1 October 2019
**Fund Balance Carried Forward at 30**
**September 2020**
**Net (Outcoming) / Incoming Resources**
**Before Transfers**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**36,969**
**-**
**36,969**
**36,969**
**-**
**36,969**
**36,483**
**-**
**36,483**
**499**
**-**
**499**
**36,982**
**-**
**36,982**
**(13)**
**-**
**(13)**
**-**
**-**
**-**
**(13)**
**-**
**(13)**
**5,225**
**-**
**5,225**
**5,212**
**-**
**5,212**|_Total_
_Funds_
_2019_
_£_
_20,745_|
|---|---|---|
|||_20,745_|
|||_25,150_
_359_|
|||_25,509_|
|||_(4,764)_
_-_|
|||_(4,764)_|
|||_9,989_|
|||_5,225_|
## **Poverty Child Limited Balance Sheet for the Year Ended 30 September 2020**
**----- Start of picture text -----**
Note 2020 2019
£ £ £ £
Current Assets
Cash at bank and in hand 5,537 5,550
Creditors: Amounts falling
due within one year 7 (325) (325)
Net Assets 5,212 5,225
Funds of the Charity 9
Unrestricted fund 5,212 5,225
Total Funds 5,212 5,225
**----- End of picture text -----**
For the year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
- 2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on and signed on its behalf by: 01/06/2021
## **Poverty Child Limited Notes to the Financial Statements for the Year Ended 30 September 2020**
## **1. Accounting Policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of accounting**
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Charities SORP (FRS 102).
## **(b) Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purpose, the use of which is restricted to that area or purpose.
## **(c) Incoming resources**
All incoming resources are included in the statement of financial activities when the charity is entitled to, and certain to receive, the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income:
Voluntary income is received by way of monetary donations and donated services (valued at market rate) and are included in full in the Statement of Financial Activities when receivable.
## **(d) Resources Expended**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. Expenditure is recognised on an accrual basis and is reported as part of the expenditure to which it relates. The resources expended within direct costs include those services which have been donated and are valued at the market rate:
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the Independent Examiner's fee.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource.
## **Poverty Child Limited Notes to the Financial Statements for the Year Ended 30 September 2020**
## **2 Voluntary Income**
|Donations
Donated professional services
Total
**3**
**Total resources expended**
**Direct costs**
Website costs
Computer costs
General admin
Advertising
Printing & stationery
Rent
Project Implementation
**Support costs**
Accountancy fees
Consultancy
Bank charges
**Total**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**3,319**
**-**
**3,319**
**33,650**
**-**
**33,650**
**36,969**
**-**
**36,969**
**Charitable**
**Governance**
**Total**
**Activities**
**Costs**
**Costs**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**947**
**-**
**947**
**364**
**-**
**364**
**95**
**-**
**95**
**33,650**
**-**
**33,650**
**307**
**-**
**307**
**1,120**
**-**
**1,120**
**-**
**-**
**-**
**-**
**355**
**355**
**-**
**100**
**100**
**-**
**44**
**44**
**36,483**
**499**
**36,982**|_Total_
_Funds_
_2019_
_£_
_3,465_
_17,280_|
|---|---|---|
|||_20,745_|
|||_Total_
_Costs_
_2019_
_£_
_870_
_287_
_141_
_17,280_
_153_
_-_
_6,419_
_355_
_-_
_4_|
|||_25,509_|
## **4 Trustees Remuneration & Related Party Transactions**
No members of the management committee received any remuneration or reimbursements during the year.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
## **5 Taxation**
As a charity, Poverty Child Limited is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
## **6 Independent Examiner's Fees**
These are included within Accountancy Fees under Governance Costs as detailed below:
|Company Secretarial Fees 2019
Independent Examiner's Fees 2020
**Total Accountancy fees**|**2020**
**30**
**325**|
|---|---|
||**355**|
## **Poverty Child Limited Notes to the Financial Statements Continued for the Year Ended 30 September 2020**
## **7 Creditors: Falling Due within One Year**
||||
|---|---|---|
|**Creditors: Falling Due within One Year**
Accruals
Total|**2020**
**325**
**325**|_2019_
_325_|
|||_325_|
## **8 Analysis of Net Assets Between Funds**
|Current Assets
Current Liabilities
Net Assets at 30 September 2020
**9**
**Movement in funds**
**Brought**
**Forward**
**£**
**Unrestricted Funds**
**5,225**
**Total of Funds**
**5,225**|**Incoming**
**Resources**
**£**
**36,969**
**36,969**|**Unrestricted**
**Funds**
**£**
**5,537**
**(325)**
**5,212**
**Resources**
**Expended**
**£**
**(36,982)**
**(36,982)**|**Restricted**
**Funds**
**£**
**-**
**-**
**-**
**Transfers**
**in/(out)**
**£**
**-**
**-**|**Total**
**Funds**
**£**
**5,537**
**(325)**|
|---|---|---|---|---|
|||||**5,212**|
|||||**Carried**
**Forward**
**£**|
|||||**5,212**|
||||||
|||||**5,212**|