2021-07-31-accounts

Registered number 09673188 Registered Charity Number 1165579

THE KC FOUNDATION

(A Company Limited by Guarantee)

Report and Accounts

31 July 2021

THE KC FOUNDATION Report and accounts Contents

	Page
Company information	1
Directors' report	2
Accountants' report	3
Profit and loss account	4
Balance sheet	5
Notes to the accounts	6

THE KC FOUNDATION Company Information

Directors

Mrs A Oluwatula Dr H Ojigbani Ms D A Meah

Accountants

FP Associates Limited 36A Goodmayes Road Ilford Essex IG3 9UR

Bankers

Santander Plc 2 Triton Square Regents Place London NW1 3AN

Registered office

Unit 2 162 Brinkburn Street Newcastle Upon Tyne NE6 2AR

Registered number 09673188

1

THE KC FOUNDATION Registered number: 09673188 Directors' Report

The directors present their report and accounts for the year ended 31 July 2021.

Principal activities

The company's principal activity during the year continued to be Social and Educational Care.

Directors

The following persons served as directors during the year:

Mrs A Oluwatula Dr H Ojigbani Ms D A Meah

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 30 May 2022 and signed on its behalf.

Mrs A Oluwatula Director

2

THE KC FOUNDATION Independent Examiners Report

Independent Examiners Report to the Directors of THE KC FOUNDATION

"I report to the charity trustees on my examination of the acounts of the company for the year ended 31 July 2021.

Responsibilities and basis of the Report

As the charity's trustees of the company (who are also the directors of the company 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 for this year 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 examiners statement

I have completed my examination. I confirm that no material matters have come to my attention which give me cause to believe that:

-accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

-the accounts do not accord with such records; or

-the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102)."

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.

Fumi Popoola FP Associates Limited Chartered Certified Accountants 36A Goodmayes Road Ilford Essex IG3 9UR 30 May 2022

3

THE KC FOUNDATION Profit and Loss Account for the year ended 31 July 2021

Turnover Cost of sales Gross profit Administrative expenses Operating profit Profit before taxation Tax on profit Profit for the financial year	2021 £ 26,910 (3,681) 23,229 (14,161) 9,068 9,068 - 9,068	2020 £ 13,161 -
		13,161 (8,057)
		5,104
		5,104 -
		5,104

4

THE KC FOUNDATION Registered number: 09673188 Balance Sheet as at 31 July 2021

Notes Fixed assets Tangible assets 3 Current assets Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year 5 Net current assets Net assets Capital and reserves Profit and loss account Accumulated funds	2021 £ 3,469 1,500 15,954 17,454 (986) 16,468 19,937 19,937 19,937	2020 £ - 1,914 9,448 11,362 (493) 10,869 10,869 10,869 10,869	2020 £ - 1,914 9,448 11,362 (493) 10,869 10,869 10,869 10,869
			10,869
			10,869
			10,869

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Mrs A Oluwatula

Director Approved by the board on 30 May 2022

5

THE KC FOUNDATION Notes to the Accounts for the year ended 31 July 2021

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Income

Income is based on income receivable in the period.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

2	Employees	2021	2020
		Number	Number
	Average number of persons employed by the company	0	0
3	Tangible fixed assets

Tangible fixed assets
	Plant and
	machinery
	etc
	£
Cost
Additions	4,625
At 31 July 2021	4,625
Depreciation
Charge for the year	1,156
At 31 July 2021	1,156

6

THE KC FOUNDATION Notes to the Accounts

for the year ended 31 July 2021

Net book value At 31 July 2021 4 Debtors Other debtors 5 Creditors: amounts falling due within one year Other creditors	2021 £ 1,500 2021 £ 986	3,469
		2020 £ 1,914
		2020 £ 493

6 Share Capital

The company is limited by guarantee and consequently does not have share capital.

7 Other information

THE KC FOUNDATION is a private company limited by shares and incorporated in England. Its registered office is: Unit 2 162 Brinkburn Street Newcastle Upon Tyne NE6 2AR

7

THE KC FOUNDATION

Detailed profit and loss account for the year ended 31 July 2021

This schedule does not form part of the statutory accounts

Income Cost of sales Operating profit Administrative expenses Operating profit Surplus before tax	2021 £ 26,910 (3,681) 23,229 (14,161) 9,068 9,068	2020 £ 13,161 -
		13,161 (8,057)
		5,104
		5,104

8

THE KC FOUNDATION

Detailed profit and loss account for the year ended 31 July 2021

This schedule does not form part of the statutory accounts

Income Food Funds Street Games UK Educational fund Donations Cost of sales Direct labour Administrative expenses Employee costs: Wages and salaries Travel and subsistence Entertaining General administrative expenses: Stationery and printing Benevolence Food Bank Equipment expensed Outreach costs Repairs and maintenance Depreciation Legal and professional costs: Accountancy fees Other legal and professional	2021 £ 6,485 2,304 1,200 16,921 26,910 3,681 4,845 1,914 - 6,759 921 - 79 401 4,307 45 1,156 6,909 480 13 493 14,161	2020 £ 240 7,214 - 5,707
		13,161
		-
		689 48 29
		766
		148 25 819 670 4,829 307 -
		6,798
		480 13
		493
		8,057

9