Registered number: 09400769 Charity number: 1165307
ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2024
Trustees Anthony Joseph Adler Moshe Sternlight Ian Weissbraun Company registered number 09400769 Charity registered number 1165307 Registered office Devonshire House 582 Honeypot Lane, Stanmore HA7 1JS Principal operating 1117E Finchley Road office London NW11 0QB Accountants Simia Wall LLP Chartered Accountants Devonshire House 582 Honeypot Lane, Stanmore HA7 1JS
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2024
The Trustees present their annual report together with the financial statements of the Atopic Dermatitis Relief (Trading as Kumi Uri) Limited for the year 1 February 2023 to 31 January 2024. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Objectives and activities
a. Policies and objectives
The charity's objectives are to assist in the treatment and care of children suffering from atopic dermatitis and other similar skin diseases, and the support of the families of such children.
The Trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on public benefit by reviewing the Trust's aims and objectives and in planning future activities and setting the award making policy for the year. Currently the charity operates in various regions of the UK and has plans to expand its operations in future years.
Achievements and performance
a. Review of activities
During the year Atopic Dermatitis Relief (Trading As Kumi Uri) Ltd ran various media campaigns along with holding a Fundraising Barbeque in London, to raise awareness of their work and to solicit funds for the Charity. A Fundraising Reception was also held in the town of Gateshead, again, spreading awareness and soliciting much needed funds for the Charity.
We were, once again, able to run our Flagship Summer Camp, in Davos, Switzerland, which was very well attended. The children and their families benefited greatly from the unique climate of Davos. They also received, through the Camp, advice on lifestyle changes including diet etc. in order to sustain the improvements they experienced during their stay.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees have established a reserves policy to not take on any commitment without the available resources.
c. Financial position
During the year the Trust's income amounted to £39,522 (2023:£48,630), and expenditure amounted to £40,141 (2023: £47,631). This resulted in net outgoing resources of £619 (2023: net incoming resources of £999).
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024
Structure, governance and management
a. Constitution
Atopic Dermatitis Relief (Trading as Kumi Uri) Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 2 December 2015.
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these 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 of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on and signed on their behalf by:
Moshe Sternlight
Trustee
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2024
Independent Examiner's Report to the Trustees of Atopic Dermatitis Relief (Trading as Kumi Uri) Limited ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 January 2024.
Responsibilities and Basis of Report
As the Trustees of the Company (and 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 the Company's accounts 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
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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.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Isabella Segal
Dated:
Simia Wall LLP Chartered Accountants Devonshire House, 582 Honeypot Lane, Stanmore HA7 1JS
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2024
| Note Income from: Donations and legacies 3 Total income Expenditure on: Raising funds 4 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds Total funds Total funds 2024 2024 2023 £ £ £ 39,522 39,522 48,630 |
|---|---|
| 39,522 39,522 48,630 |
|
| 6,965 6,965 2,945 33,176 33,176 44,686 |
|
| 40,141 40,141 47,631 |
|
| (619) (619) 999 |
|
| (21,787) (21,787) (22,786) (619) (619) 999 |
|
| (22,406) (22,406) (21,787) |
The notes on pages 7 to 11 form part of these financial statements.
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee) REGISTERED NUMBER: 09400769
BALANCE SHEET AS AT 31 JANUARY 2024
| Current assets Cash at bank and in hand Note Creditors: amounts falling due within one year 8 Net current liabilities Creditors: amounts falling due after more than one year 9 Net liabilities excluding pension asset Net liabilities Charity funds Unrestricted funds 10 Total deficit |
834 | 2024 £ (2,406) (20,000) |
1,453 | 2023 £ (1,787) (20,000) |
|---|---|---|---|---|
| 834 (3,240) |
1,453 (3,240) |
|||
| (22,406) | (21,787) | |||
| (22,406) | (21,787) | |||
| (22,406) | (21,787) | |||
| (22,406) | (21,787) |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.
The financial statements were approved and authorised for issue by the Trustees on and signed on their behalf by:
Moshe Sternlight
Trustee
The notes on pages 7 to 11 form part of these financial statements.
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
1. General information
Atopic Dermatitis Relief (Trading as Kumi Uri) Limited is a company limited by guarantee registered in England and Wales. The address of its registered office is Devonshire House, 582 Honeypot Lane, Stanmore HA7 1JS.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Atopic Dermatitis Relief (Trading as Kumi Uri) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
2.3 Going concern
The charity has net current liabilities of £2,406, but a positive cash balance. The deficit is due to amounts loaned to the charity and owed at the reporting date. The trustees maintain strict control over its cash management and will ensure that this deficit is covered by incoming resources before further expenditure is made. Consequently the trustees believe that it is appropriate to prepare these financial statements on a going concern basis.
2.4 Income
Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
2. Accounting policies (continued)
2.5 Expenditure (continued)
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt.
2.8 Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the 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.
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
2.11 Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires the use of judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for income and expenditure during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. There have been no judgements in applying accounting policies in the year.
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
3. Income from donations
| Donations Total 2023 |
Unrestricted funds 2024 £ 39,522 48,630 |
Total funds 2024 £ 39,522 48,630 |
Total funds 2023 £ 48,630 |
|---|---|---|---|
4. Expenditure on raising funds
| Fundraising expenses Total 2023 |
Unrestricted funds 2024 £ 6,965 2,945 |
Total funds 2024 £ 6,965 2,945 |
Total funds 2023 £ 2,945 |
|---|---|---|---|
5. Analysis of expenditure by activities
| Direct costs Total 2023 |
Grant funding of activities 2024 £ 30,835 42,655 |
Support costs 2024 £ 2,341 2,031 |
Total funds 2024 £ 33,176 44,686 |
Total funds 2023 £ 44,686 |
|---|---|---|---|---|
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Accountancy Bank charges General office expenses Legal & professional 6. Independent examiner's remuneration Fees payable to the Company's independent examiner in respect of: Other services |
Total funds 2024 £ 2113 27 201 - 2,341 2024 £ 1,440 |
Total funds 2023 £ 1753 42 196 40 |
|---|---|---|
| 2,031 | ||
| 2023 £ 1,440 |
7. Staff costs
The company has no employees other than the Trustees, who did not receive any remuneration or other benefits (2023: £NIL).
No employee received remuneration amounting to more than £60,000 in either year.
8. Creditors: Amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Accruals and deferred income | 3,240 | 3,240 |
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ATOPIC DERMATITIS RELIEF (TRADING AS KUMI URI) LIMITED (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
9. Creditors: Amounts falling due after more than one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 20,000 | 20,000 |
10. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at | |||
|---|---|---|---|---|
| February | 31 January | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General Funds - all funds | (21,787) | 39,522 | (40,141) | (22,406) |
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