2023-01-31-accounts

KEF KIDS COMPANY LIMITED BY GUARANTEE UNAUDITED FINANCIAL STATEMENTS 31 JANUARY 2023

COMPANY REGISTRATION NUMBER: 10799455 CHARITY REGISTRATION NUMBER: 1176298

COHEN ARNOLD

Chartered accountants New Burlington House 1075 Finchley Road London NW11 0PU

Kef Kids

Company Limited by Guarantee

Financial Statements

Year ended 31 January 2023

	Page
Trustees' annual report (incorporating the director's report)	1
Independent auditor's report to the members	14
Statement of financial activities (including income and expenditure
account)	19
Statement of financial position	20
Statement of cash flows	21
Notes to the financial statements	22

Kef Kids

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 January 2023

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 January 2023.

Reference and administrative details

Registered charity name	Kef Kids
Charity registration number	1176298
Company registration number	10799455
Principal office	KEF Centre
	Arbiter House
	Wilberforce Road
	London
	NW9 6AX
Registered office	New Burlington House
	1075 Finchley Road
	London
	NW9 6AX
The trustees	Mr D B Fine
	Mr B Groszman
	Mr S J Halpern
Auditor	Cohen Arnold
	Chartered accountants & statutory auditor
	New Burlington House
	1075 Finchley Road
	LONDON
	NW11 0PU

Structure, governance and management

Kef was originally established as a charitable trust in 2007 to provide social, leisure and developmental benefits to children with disabilities and to provide support and respite to their families. As of 14 Dec 2017, the charity's activities were transferred to a newly formed incorporated charity Kef Kids (charity number 1176298, company number 10799455). In the Trustees' view this is a more suitable legal structure given the nature and expansion of the charity's activities. The charity's governing document is its Memorandum and Articles of Association.

The day to day affairs of the charity are administered by the Board of Trustees. It is not currently the intention of the trustees of the charity to appoint new trustees. Should the situation change in the future, the trustees will apply suitable recruitment and training procedures.

1

Kef Kids

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2023

Objectives and activities

Objectives

The charity was set up to provide out-of-school hours activities for children with disabilities, primarily from the Jewish communities in the London Borough of Barnet, but also to Jewish children in Brent and Hackney and other areas in England. The charity's aims are to provide social, leisure and developmental benefits to children with disabilities and support and respite to their families.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and policies.

Achievements and performance

The charity provides out-of-school hours activities for children and young adults with a wide range of physical and learning disabilities and their families, primarily from the Jewish communities in the London Borough of Barnet, but also to Jewish children in Brent and Hackney and other areas in England. The charity offers opportunities that help the children to thrive, whilst providing their families with much needed respite. Devoted and energetic volunteers ensure a caring and loving environment whilst catering to each child’s individual needs.

The charity's aims are to enhance the lives of children and young adults with disabilities while providing much needed respite for their families, by offering social, leisure and developmental benefits. KEF is an environment where service users can blossom and develop to maximise their potential.

During the above-said period, the activities run by the charity included:

• A summer residential scheme for 81 children and young adults across 3 divisions with over 200 staff.

• A winter residential scheme for 70 children and young adults across 3 divisions and over 150 staff

• Sunday activities for up to 55 children and young adults with over 70 staff.

• Boys only Sunday activities geared at older campers (from 12), with additional opportunities for family involvement (via zoom and in person).

• Activities and outings on days when school was closed were held throughout the year, including bank holidays, half-terms and school INSET days

• After school baking groups for up to 14 children

• Weekly sports activities for boys with qualified instructor

• Buddy Programme – staff offer extra regular support on a one-to-one basis.

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Kef Kids

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2023

• Parent support group offering various support and social opportunities

• Older Girls Activity programme which meets bi-weekly and is the highlight of the week for our young adults

• Sibling Support Groups – focusing support and attention on the siblings of the participants with special needs who often they feel neglected and marginalised by the focus on their special sibling.

• Residential weekends for 55 service users at the end of March – with a full programme of activities and entertainment - a welcome breather at the end of a long term.

• Support packages and Zoom programmes are now available as standard for children and young adults who cannot access programmes in person.

The Kef Centre , a fully refurbished, bespoke building equipped with state of the art disabled accessible facilities, a soft-play room, sensory room and kitchen, accommodates all programmes during the year, has become a hub for the participants of Kef. The security and familiarity that the building provides, in addition to its suitability for all needs, has markedly improved the smooth running of the programmes.

Kef Kids is registered with Ofsted under registration no. 2592451 and received an OUTSTANDING rating at its inspection in August 2023 for the second consecutive year. Having received consistently good ratings when previously registered as KEF, this reflects the progress that the charity has made to reach and maintain this level.

Kef Kids was awarded the Queens Award for Voluntary Service in July 2022, the equivalent of an MBE for the voluntary sector. This award represents the highest accolade attainable for any UK charity. Two members of the KEF Executive Committee received the award in the Tower of London in November, and another two members attended the King’s Garden Party in Buckingham Palace in May 2023.

3

Kef Kids

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2023

Kef’s doctor, David Spitzer, was awarded JVN Outstanding Volunteer of the Year for his services to KEF since 2016.

Their Majesties The King and The Queen Consort awarded 500 of the nation’s most extraordinary volunteers as part of the official Coronation celebrations in conjunction with Royal Voluntary Service. Kef Executive Team member Shelley Groszman was nominated for her voluntary services to KEF and became a Coronation Champion in May 2023.

KEF is now partnering with several other organisations to ensure that service users are benefitting from the range of support services available, and to minimise overlap of provision.

In September 2023 an Impact Report was produced by Kef, reflecting the progress of the Charity over the previous 12 months. Please see the report below.

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Kef Kids

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2023

Future Plans

There are an increasing number of applications to Kef Kids for places for residential schemes and procuring suitably equipped premises is both extremely challenging and expensive. The Trustees are of the opinion that the charity would hugely benefit from owning its own residential site configured and customised to its needs to enable it to operate more efficiently in the long term. The Trustees are currently in the process of engaging a team of advisors to put together a report in order to assess the feasibility of acquiring a building and have created a designated fund for this purpose.

Financial review

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level of up to six months running costs. This is to ensure that activities do not have to stop at a time when funding is not immediately available.

As at 31 January 2023 the charity had unrestricted funds of £802,815. Free reserves, which are the charity's unrestricted net current assets, was £252,793. This covers 3 months running costs.

Trustees' responsibilities statement

The trustees, who are also directors 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Kef Kids

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 January 2023

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

• so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and

• they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 30 November 2023 and signed on behalf of the board of trustees by:

Mr B Groszman

Trustee

13

Kef Kids

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kef Kids

Year ended 31 January 2023

Opinion

We have audited the financial statements of Kef Kids (the 'charity') for the year ended 31 January 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 January 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Kef Kids

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kef Kids (continued)

Year ended 31 January 2023

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

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Kef Kids

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kef Kids (continued)

Year ended 31 January 2023

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with the trustees and identified financial reporting legislation and charity legislation as being most significant to these financial statements.

We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with the laws and regulations.

We discussed with the trustees the policies and procedures regarding compliance with these legal and regulatory frameworks.

We assessed the susceptibility of the charity's financial statements to material misstatement due to non-compliance with legal and regulatory frameworks, including how fraud might occur, by enquiry with the trustees during the planning and finalisation phases stages of our audit. The susceptibility to such material misstatement was determined to be low.

Based on this understanding, we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement items.

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Kef Kids

Company Limited by Guarantee

Independent Auditor's Report to the Members of Kef Kids (continued)

Year ended 31 January 2023

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

17

Kef Kids

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 January 2023

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Goldberg (Senior Statutory Auditor)

For and on behalf of Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NW11 0PU

30 November 2023

18

Kef Kids

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 January 2023

			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	905,120	31,226	936,346	789,381
Charitable activities	6	255,838	–	255,838	204,861
Investment income	7	421	–	421	–
		─────────────	─────────	─────────────	──────────
Total income		1,161,379	31,226	1,192,605	994,242
		═════════════	═════════	═════════════	══════════
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	8	229,508	–	229,508	135,088
Expenditure on charitable activities	9,10	885,512	31,226	916,738	921,919
		─────────────	─────────	─────────────	─────────────
Total expenditure		1,115,020	31,226	1,146,246	1,057,007
		═════════════	═════════	═════════════	═════════════
		─────────────	─────────	─────────────	─────────────
Net income/(expenditure) and net
movement in funds		46,359	–	46,359	(62,765)
		═════════════	═════════	═════════════	═════════════
Reconciliation of funds
Total funds brought forward		756,456	–	756,456	819,221
		─────────────	─────────	─────────────	─────────────
Total funds carried forward		802,815	–	802,815	756,456
		═════════════	═════════	═════════════	═════════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 22 to 30 form part of these financial statements.

19

Kef Kids

Company Limited by Guarantee

Statement of Financial Position

31 January 2023

		2023	2022
	Note	£	£
Fixed assets
Tangible fixed assets	16	350,022	280,433
Current assets
Debtors	17	46,951	41,844
Cash at bank and in hand		438,424	476,131
		──────────	──────────
		485,375	517,975
Creditors: amounts falling due within one year	19	32,582	41,952
		──────────	──────────
Net current assets		452,793	476,023
		──────────	──────────
Total assets less current liabilities		802,815	756,456
		──────────	──────────
Net assets		802,815	756,456
		══════════	══════════
Funds of the charity
General funds		602,815	606,456
Designated funds		200,000	150,000
		──────────	──────────
Total charity funds	21	802,815	756,456
		══════════	══════════

These financial statements were approved by the board of trustees and authorised for issue on 30 November 2023, and are signed on behalf of the board by:

Mr B Groszman

Trustee

The notes on pages 22 to 30 form part of these financial statements.

20

Kef Kids

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 January 2023

		2023	2022
	Note	£	£
Cash flows from operating activities
Net income/(expenditure)		46,359	(62,765)
Adjustments for:
Depreciation of tangible fixed assets		10,154	60,818
Other interest receivable and similar income		(421)	–
Interest payable and similar charges		432	1,367
Accrued expenses		600	600
Changes in:
Trade and other debtors		(5,107)	(16,844)
Trade and other creditors		(9,322)	17,147
		─────────	─────────
Cash generated from operations		42,695	323
Interest paid		(432)	(1,367)
Interest received		421	–
		─────────	───────
Net cash from/(used in) operating activities		42,684	(1,044)
		═════════	═══════
Cash flows from investing activities
Purchase of tangible assets		(79,743)	(35,945)
		─────────	─────────
Net cash used in investing activities		(79,743)	(35,945)
		═════════	═════════
Net decrease in cash and cash equivalents		(37,059)	(36,989)
Cash and cash equivalents at beginning of year		475,238	512,227
		──────────	──────────
Cash and cash equivalents at end of year	18	438,179	475,238
		══════════	══════════

The notes on pages 22 to 30 form part of these financial statements.

21

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 January 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is KEF Centre, Arbiter House, Wilberforce Road, London, NW9 6AX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Trustees are confident that the charity has sufficient reserves to be able to continue its charitable activities for the foreseeable future.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

the Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

22

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

23

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	Various rates, depending on estimated useful life and
		residual value
Motor vehicles	-	Various rates, depending on estimated useful life and
		residual value
Leasehold property	-	Over the remaining number of years on the lease
improvements		(terminating in 2026)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

24

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

3. Accounting policies (continued)

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

Kef Kids is a Company Limited by Guarantee not having a Share Capital. It is registered as a charity with the Charity Commission (number 1176298).

5. Donations and legacies

Donations and legacies
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Donations	905,120	13,801	918,921
Grants
Grants receivable	–	17,425	17,425
	──────────	─────────	──────────
	905,120	31,226	936,346
	══════════	═════════	══════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Donations	754,347	–	754,347
Grants
Grants receivable	20,965	14,069	35,034
	──────────	─────────	──────────
	775,312	14,069	789,381
	══════════	═════════	══════════

25

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

6. Charitable activities

6.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Parental contributions	255,838	255,838	204,861	204,861
		══════════	══════════	══════════	══════════
7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Bank interest receivable	421	421	–	–
		════	════	════	════
8.	Costs of raising donations and legacies
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Costs of raising donations and legacies
	- Donations	229,508	229,508	135,088	135,088
		══════════	══════════	══════════	══════════
9.	Expenditure on charitable activities by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
	Recreational activities and residential camps for
	children with special needs		872,684	31,226	903,910
	Support costs		12,828	–	12,828
			──────────	─────────	──────────
			885,512	31,226	916,738
			══════════	═════════	══════════
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
	Recreational activities and residential camps for
	children with special needs		900,650	14,069	914,719
	Support costs		7,200	–	7,200
			──────────	─────────	──────────
			907,850	14,069	921,919
			══════════	═════════	══════════

26

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

10. Expenditure on charitable activities by activity type

10.	Expenditure on charitable activities by	activity type
		Activities
		undertaken		Total funds	Total fund
		directly Support costs		2023	2022
		£	£	£	£
	Recreational activities and residential
	camps for children with special needs	903,910	–	903,910	914,719
	Governance costs	–	12,828	12,828	7,200
		──────────	─────────	──────────	──────────
		903,910	12,828	916,738	921,919
		══════════	═════════	══════════	══════════
11.	Net income/(expenditure)
	Net income/(expenditure) is stated after charging/(crediting):
				2023	2022
				£	£
	Depreciation of tangible fixed assets			10,154	60,818
				═════════	═════════
12.	Auditors remuneration
				2023	2022
				£	£
	Fees payable for the audit of the financial	statements		6,600	–
				═══════	════
13.	Independent examination fees
				2023	2022
				£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements			–	5,400
				════	═══════
14.	Staff costs
	The total staff costs and employee benefits for the reporting period are analysed as				follows:
				2023	2022
				£	£
	Wages and salaries			64,964	20,876
	Social security costs			197	–
	Employer contributions to pension plans			1,486	318
				─────────	─────────
				66,647	21,194
				═════════	═════════
	The average number of employees during	the year is analysed as follows:
				2023	2022
				No.	No.
	Number of staff			4	2
				════	════

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

27

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

15. Trustee remuneration and expenses

There was no remuneration paid to the Trustees. The Charity did not meet any individual expenses incurred by the Trustees for services provided to the Charity.

16. Tangible fixed assets

					Leasehold
	Freehold	Fixtures and	Motor		property
	property	fittings	vehicles	Equipment	improvement	Total
	£	£	£	£	£	£
Cost
At 1 Feb 2022	–	7,842	65,782	–	387,173	460,797
Additions	67,101	–	–	12,642	–	79,743
	─────────	───────	─────────	─────────	──────────	──────────
At 31 Jan 2023	67,101	7,842	65,782	12,642	387,173	540,540
	═════════	═══════	═════════	═════════	══════════	══════════
Depreciation
At 1 Feb 2022	–	2,614	26,955	–	150,795	180,364
Charge for the
year	–	1,568	4,414	4,172	–	10,154
	─────────	───────	─────────	─────────	──────────	──────────
At 31 Jan 2023	–	4,182	31,369	4,172	150,795	190,518
	═════════	═══════	═════════	═════════	══════════	══════════
Carrying
amount
At 31 Jan 2023	67,101	3,660	34,413	8,470	236,378	350,022
	═════════	═══════	═════════	═════════	══════════	══════════
At 31 Jan 2022	–	5,228	38,827	–	236,378	280,433
	═════════	═══════	═════════	═════════	══════════	══════════
Debtors
					2023	2022
					£	£
Prepayments and accrued income					37,500	35,725
Other debtors					9,451	6,119
					─────────	─────────
					46,951	41,844
					═════════	═════════
Cash and cash equivalents
Cash and cash equivalents comprise the following:
					2023	2022
					£	£
Cash at bank and in hand					438,424	476,131
Bank overdrafts					(245)	(893)
					──────────	──────────
					438,179	475,238
					══════════	══════════

17. Debtors

18. Cash and cash equivalents

28

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

19. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
	2023	2022
	£	£
Bank loans and overdrafts	245	893
Trade creditors	25,053	35,076
Accruals and deferred income	6,600	6,000
Other creditors	684	(17)
	─────────	─────────
	32,582	41,952
	═════════	═════════

20. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,486 (2022: £318).

21. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At 1 Feb				At
	2022	Income	Expenditure	Transfers	31 Jan 2023
	£	£	£	£	£
General funds	606,456	1,161,379	(1,115,020)	(50,000)	602,815
	=====================================	=====================================	=====================================	=====================================	=====================================
	At 1 Feb				At
	2021	Income	Expenditure	Transfers	31 Jan 2022
	£	£	£	£	£
General funds	669,221	980,173	(1,042,938)	–	606,456
	=====================================	=====================================	=====================================	=====================================	=====================================
Designated funds
	At 1 Feb				At
	2022	Income	Expenditure	Transfers	31 Jan 2023
	£	£	£	£	£
Building Fund	150,000	–	–	50,000	200,000
	=====================================	=====================================	=====================================	=====================================	=====================================
	At 1 Feb				At
	2021	Income	Expenditure	Transfers	31 Jan 2022
	£	£	£	£	£
Building Fund	150,000	–	–	–	150,000
	=====================================	=====================================	=====================================	=====================================	=====================================

There are an increasing number of applications to Kef Kids for places for residential schemes and procuring suitably equipped premises is both extremely challenging and expensive. The Trustees are of the opinion that the charity would hugely benefit from owning its own residential site configured and customised to its needs to enable it to operate more efficiently in the long term. The Trustees are currently in the process of engaging a team of advisors to put together a report in order to assess the feasibility of acquiring a building and are creating a designated fund for this purpose.

29

Kef Kids

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 January 2023

Restricted funds

Restricted funds
	At				At
	1 February				31 January
	2022		Income	Expenditure	2023
	£		£	£	£
Restricted Funds	–		31,226	(31,226)	–
	════		═════════	═════════	════
	At				At
	1 February				31 January
	2021		Income	Expenditure	2022
	£		£	£	£
Restricted Funds	–		14,069	(14,069)	–
	════		═════════	═════════	════
Analysis of net assets between funds
				Unrestricted	Total Funds
				Funds	2023
				£	£
Tangible fixed assets				350,022	350,022
Current assets				485,375	485,375
Creditors less than 1 year				(32,582)	(32,582)
				──────────	──────────
Net assets				802,815	802,815
				══════════	══════════
				Unrestricted	Total Funds
				Funds	2022
				£	£
Tangible fixed assets				280,433	280,433
Current assets				517,975	517,975
Creditors less than 1 year				(41,952)	(41,952)
				──────────	──────────
Net assets				756,456	756,456
				══════════	══════════
Analysis of changes in net debt
					At
		At	1 Feb 2022	Cash flows	31 Jan 2023
			£	£	£
Cash at bank and in hand			476,131	(37,707)	438,424
Bank overdrafts			(893)	648	(245)
			──────────	─────────	──────────
			475,238	(37,059)	438,179
			══════════	═════════	══════════

22. Analysis of net assets between funds

23. Analysis of changes in net debt

24. Related parties

There were no related party transactions during the period under review.

30