REGISTERED COMPANY NUMBER: 1170796 (England and Wales) REGISTERED CHARITY NUMBER: 1170796
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 FOR
THE KAILASH SATYARTHI CHILDREN'S FOUNDATION
Biz Accounting Solutions Ltd. 16 Crockhamwell Road Woodley Reading RG5 3LF
THE KAILASH SATYARTHI CHILDREN'S FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 to 5 |
| Detailed Statement of Financial Activities | 6 |
THE KAILASH SATYARTHI CHILDREN'S FOUNDATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2020
The trustees present their report with the financial statements of the charity for the period ended 31 December 2020. The trustees have adopted the provisions of 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 2015).
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
1170796 (England and Wales)
Registered Charity number
1170796
Registered office
16 Upper Wimpole Street, Flat 1 London W1G 6LT
Trustees
Sudhir Maheshwari Kailash Satyarthi
Mintoo Bhandari
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an incorporated charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 18 October 2021
............................................. Mr Mintoo Bhandari-Trustee
Page 1
THE KAILASH SATYARTHI CHILDREN’S FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Year Ended | Year ended | ||
|---|---|---|---|
| 31.12.20 | 31.12.19 | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| Notes | £ | £ | |
| INCOMING RESCOURCES | |||
| Incoming resources from generated funds | |||
| Voluntary income | - | 50,000 | |
| Total | - | - | |
| RESOURCES EXPENDED | |||
| Charitable activities | 68,581 | ||
| Cost of generating voluntary income | 2,160 | 12,795 | |
| 70,741 | |||
| NET (LOSS) / INCOME | (70,741) | 37,205 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 109,771 | 72,566 | |
| TOTAL FUNDS CARRIED FORWARD | 39,030 | 109,771 |
The notes form part of these financial statements
Page 2
THE KAILASH SATYARTHI CHILDREN’S FOUNDATION
BALANCE SHEET AT 31 DECEMBER 2020
| 31.12.20 | 31.12.19 | ||
|---|---|---|---|
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 39,930 | 110,671 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (900) | (900) |
| NET CURRENT ASSETS | 39,030 | 109,771 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 39,030 | 109,771 | |
| NET ASSETS | 39,030 | 109,771 | |
| FUNDS | |||
| Unrestricted funds | 4 | 39,030 | 109,771 |
| TOTAL FUNDS | 39,030 | 109,771 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 DECEMBER 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 DECEMBER 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on ………………………… and were signed on its behalf by:
Mr Mintoo Bhandari-Trustee
The notes form part of these financial statements
Page 3
THE KAILASH SATYARTHI CHILDREN’S FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the period ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the period ended 31 December 2019.
3. COST OF GENERATING VOLUNTARY INCOME
| 31.12.20 | 31.12.19 | |
|---|---|---|
| £ | £ | |
| Support cost | 2,160 | 12,795 |
| 2,160 | 12,795 |
Page 4
THE KAILASH SATYARTHI CHILDREN’S FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
4. MOVEMENT IN FUNDS
| Net | ||||
|---|---|---|---|---|
| movement in | ||||
| At 1.1.20 | funds | At 31.12.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 109,771 | (70,741) | 39,030 | |
| TOTAL FUNDS | 109,771 | (70,741) | 39,030 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | - | (70,741) | (70,741) | |
| TOTAL FUNDS | - | (70,741) | (70,741) | |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.20 | 31.12.19 | |||
| £ | £ | |||
| Accruals and deferred income | 900 | 900 | ||
| 900 | 900 |
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
Page 5
THE KAILASH SATYARTHI CHILDREN’S FOUNDATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
| Year Ended | Year Ended | |
|---|---|---|
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOMING RESOURCES | ||
| Voluntary income | ||
| General fund | - | 50,000 |
| Total incoming resources | - | 50,000 |
| RESOURCES EXPENDED | ||
| Charitable activities | **68,581 ** | - |
| Total charitable spent | 68,581 | - |
| Cost of generating voluntary income | ||
| Advertising | - | 11,895 |
| Accountancy | 2,160 | 900 |
| 2,160 | 12,795 | |
| Total resources expended | 70,741 | 12,795 |
| Net (loss) income | (70,741) | 37,205 |
This page does not form part of the statutory financial statements
Page 6