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