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2021-08-31-accounts

SMILEYARK KIDS

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2021

COMPANY NO: CE015329 CHARITY NO: 1180233

SMILEYARK KIDS

Financial Statements for the Year Ended 31 August 2021

Contents Page
Legal and Administrative Information 1
Report of the Trustees 2 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes forming part of the financial statements 8 - 12

SMILEYARK KIDS

Report of the Trustees for the year ended 31 August 2021

The Trustees presents its report and financial statements for the year ended 31 August 2021

Reference and Administrative information

Charity Name: Smileyark Kids
Charity Registration Number: 1180233
Company Registration Number: CE015329
Registered Office and
Operational Address: 29 Cameron Drive, Dartford. Kent. DA1 5GN
Trustees: Mr Adebayo Olumuyiwa Emanuel
Mrs Mercy Danso
Mrs Omotayo Abosede Osoko
Ms Georgina Salami
Mrs Susan Ikpefuran
Independent examiner: Accounts Fortress Limited
14 Eleanor Close
Dartford
Kent
Lloyds Bank
Bankers: 130 Broadway
Bexleyheath
Kent
DA6 7DP

Page 1

SMILEYARK KIDS

Report of the Trustees for the year ended 31 August 2021

Our Aims and Objectives

Purpose and Aims

The objects of the charity are:

To advance and provide facilities for education, training, social welfare, recreation, and other leisure time activities with the object of improving the conditions and quality of life of children, youths, and families in the London Borough of Bexley, and surrounding areas.

The organisation has been providing a service in the community since 2004 to local disadvantaged families, elderly members (70+) of the family, vulnerable children, young people and supporting parents back into work and education. The organisation continues to provide children and young adults with enriching activities adopting a holistic approach to meeting users’ needs.

The organisation currently carries out its purposes by offering breakfast and after school club activities, parenting training, advice and support, holiday clubs for children in underserved locations in a variety of schools during the academic school term.

During the holiday seasons, we deliver the Holiday Activities & Food (HAF) programme, and various enrichment activities and fun-themed holiday clubs to local disadvantaged families and children on free school meals, children and young people including children with disabilities (SEND). During the year, we worked in partnership with local organisations, community organisations, housing associations, local authorities, and schools.

Community engagements have also been enhanced with the “SmileyArk Foodbank” initiative which has continued to serve local disadvantaged families, low-income families, families with vulnerable children and adults with food parcels delivered to their doorsteps especially during the pandemic (COVID-19). This food bank initiative has continued to be offered as part of the charity’s core activities due to increasing and continuing demands from benefiting families. During this financial year, this initiative received food donations, toiletries donations, etc across 11 stores including superstores, which provided 27,371 meals (11.5 total tonnage of food) delivered to the beneficiaries across the year.

Our Youth Club, “SAY!” is a young people-led group, which aspires to develop positive young citizens through enrichment activities and raising aspirational goals. Enrichment activities include various volunteering opportunities in the community, career guidance, creative arts, learning and developing new skills such as leadership, organization, and time management skills. SAY! also has a football club called BLANCO FC who have regular matches and tournaments.

As a BAME-led organisation, we provide relevant support to schools and their BAME community, fostering the wellbeing of their children and young people, being a voice for the BAME parents where required, giving parenting advice bearing in mind cultural differences and biases, support parents in returning to work, and their families especially new immigrants to the country. We work with families who are vulnerable, high risk (e.g., sickle cell diseases and disabilities) and have been directly impacted by the COVID-19 pandemic. We work to assist them in overcoming challenges and providing the much-needed support through the unprecedented times and recovery.

The organisation has community members that make up the board of trustees who use and speak to our service users and people in the community at large.

Ensuring Our Work Delivers Our Aims

The focus of our work servicing families in the Bexley and surrounding areas through provision of breakfast and afterschool care for families, working with local council, providing summer events with the council, working with food banks and delivering food to families in need in the community

SmileyArk has community members that make up the board of trustees who use and speak to our service users and people in the community at large.

How Our Activities Deliver Public Benefit

Through helping the less privileged and vulnerable members of the society, and through the operation of a foodbank and delivery of food parcels.

Who used and benefited from our Services?

Local councils, Children/families, elderly, and those who are vulnerable in the community

Financial Review

Reserves Policy

The trustees have established the level of reserves (funds that are freely available) that the charitable should hold. Reserves are needed to bridge the gap between the charity's spending and receiving resources through

parental fees and grants. Reserves are also held to cover emergency repairs and expenditure. The charity's policy is that the reserves held should be between six and nine months of the expenditure.

Principal Funding Sources

Aside from the income generated from fees from parents, the principal funding source for the charitable company is currently by way of grants from local authority, fund raising and public donations. Specifically for this accounting year, grants were received for furlough grant, food bank, grant for reopening of clubs, holiday club grant summer 2021.

Investment Policy

The Charity has cash that set out in the Charity balance sheet. The objective of the investment policy is to invest cash at banks where the capital is protected. The Charity currently has a policy of keeping any surplus liquid funds in cash at banks where immediate access and security of funds is guaranteed.

Plans for Future Periods

The Charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding arrangements. Smileyark Kids plans to continue gaining grounds in the community and be able to reach more families in the provision of food, childcare services, and other community events to help cater to their everyday needs as well as seek opportunities for growth where possible.

Page 2

SMILEYARK KIDS Report of the Trustees for the year ended 31 August 2021

Structure, Governance and Management

Governing Document

Smileyark Kids was registered as a Charitable Incorporated Organisation with the Charity Commission on 08 October 2018 (Charity No: 1180233).

Recruitment and Appointment of Trustees

Appointment of charity trustees

1) Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees.

2) In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO

Trustees Induction and Training

The charity trustees will make available to each new charity trustee, on or before his or her first appointment:

a) a copy of the current version of this constitution; and

b) a copy of the CIO’s latest Trustees’ Annual Report and statement of accounts.

Risk Management

The trustees are working on a Risk Management strategy which comprises:

Page 3

SMILEYARK KIDS

Report of the Trustees for the year ended 31 August 2021

Responsibilities of the Trustees

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable trust as at the balance sheet date and of its incoming resources and applications of resources, including income and expenditure, for the financial year. In preparing those financial statements the Trustees should follow best practice and

o Select suitable accounting policies and then apply them consistently;

o Make judgements and estimates that are reasonable and prudent

o Prepare the financial statements on the on going basis unless it is inappropriate to presume that the charity will continue on that basis.

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time financial position of the charity and enables them to ensure that the financial statements comply with Companies Act 2006. The Trustees 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.

Members of the Board of Trustees

Members of the Board of Trustees, and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1.

In accordance with charity law, as trustees, we certify that:

So far as we are aware, there is no relevant information of which the charity's accountants are unaware; and as the trustees of the charity we have taken all steps that we ought to have taken in order to make ourselves aware of any relevant information and to establish that the Charity's accountants are aware of that information.

This report has been prepared, By order of trustees:

BayoEmanuel

Mr Adebayo Olumuyiwa Emanuel

Chairman, Board of Trustees

Page 4

SMILEYARK KIDS

Independent Examiner's Report to the Trustees

Responsibilities and basis of report

We report to the trustees on our examination of the accounts of the above charity for the year ended 31 August 2021

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011

We report in respect of our examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out our examination, we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of independent examiner's report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

Independent's examiner's statement

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination which gives us cause to believe that in, any material respect:

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Accounts Fortress Limited

14 Eleanor Close Dartford Kent DA1 5GQ

29 May 2022

Page 5

SMILEYARK KIDS

Statement of Financial Activities (including Income and Expenditure Account) for the year ended Smileyark Kids

Notes
Incoming Resources
Incoming Resources from generated funds
Charitable Activities
2
Donations and Grants
3
Total incoming resources
Resources expended
Expenditure on Charitable Activities
4
Administrative and Support Cost
5
Governance cost
6
Total resources expended
Net Incoming resources before other
recognised gains
Net movement in funds
Reconciliation of funds
Total funds brought forward
Prior Year Adjustment
Total funds carried forward
2021
2021
2020
Unrestricted
Funds
Restricted
Funds
Total Funds
Total Funds
£
£
£
£
73,616
73,616
110,032
3,095
203,684
206,780
4,694
76,711
203,684
280,395
114,725
(1,724)
(159,389)
(161,113)
(81,018)
(1,068)
(45,290)
(46,358)
(39,454)
(850)
-
(850)
(600)
(3,642)
(204,679)
(208,322)
(121,072)
73,069
(995)
72,074
(6,347)
73,069
(995)
72,074
(6,347)
70,362
995
71,356
87,757
-
-
-
(10,054)
143,431
(0)
143,430
71,356

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

Page 6

SMILEYARK KIDS

Balance Sheet as at 31 August 2021

Notes
Fixed Assets
Tangible Assets
10
Current Assets
11
Debtors
Other Receivables
Prepayments
Cash at bank and in hand
Creditors: Amount falling due within a year
12
Net Current Assets
Total assets less current liabilities
Creditors: Amount falling due after more than one year
13
Net Assets
14
Unrestricted Funds
15
Restricted Funds
15
Total Funds
2021
£
33,454
8,936
-
1,524
186,549
197,009
(44,388)
152,621
186,075
(42,645)
143,430
143,430
(0)
143,430
2020
£
39,666
11,518
12,464
1,599
84,927
110,508
(29,401)
81,106
120,772
(49,416)
71,356
70,362
995
71,356

For the year ending 31 August 2021 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Trustees’ responsibilities:

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The Financial Statements were approved by the board on _____and signed on Jun 29, 2022 its behalf by:

BayoEmanuel

Mr Adebayo Olumuyiwa Emanuel

Chairman, Board of Trustees

Page 7

SMILEYARK KIDS

Notes forming part of the financial statements for the year ended 31 August 2021

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of Accounting

The financial statements have been prepared under the historical cost conversion and in accordance with the financial reporting standard for smaller entities. The financial statements have been prepared in accordance with the statements of recommended practice (SORP). Accounting and reporting by charities published in October 2000, applicable Accounting standards and the companies Act 2006.

The financial statements are prepared on a going concern basis under the historic cost convention. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

(b) Fund Accounting

General funds are unrestricted funds and are available for use at the discretion of the trustees in furtherance of the general objectives of the company. Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for the particular purpose. The cost of raising and administering such funds are charged against the specific funds. The aim and use of each restricted fund is set out in the notes to the financial

(c ) Incoming Resources

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts, and are included in full in the Statement of Financial Activities when receivable. Grants, where delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Donated services and facilities are included at the value to the charity where this can be quantified. provided by volunteers has not been included in these accounts.

Invested income is included when receivable.

Incoming resources from charitable trading activity are accounted for when earned.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

(d) Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates: Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to strategic management of the charity. All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource.

Page 8

SMILEYARK KIDS

Notes forming part of the financial statements for the year ended 31 August 2021

1. Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives on the following basis:

Motor Vehicle 20% Straight Line Furniture and Fixture 20% Straight Line Plant and Machinery 20% Straight Line Computer Equipment 33.3% Straight Line

Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

2. Income

Charitable Activities
3. Other Income
Donations & Legacies
Grant Funding - SmileyArk Kids Club
Grant Funding - SmileyArk Foodbank
Grant & Funding - Holiday Clubs
Miscellaneous Income
Unrestricted
Restricted
2021
2020
Total
Total
£
£
£
£
73,616
-
73,616
110,032
73,616
-
73,616
110,032
Unrestricted
Restricted
2021
2020
Total
Total
£
£
£
£
-
-
-
4,694
-
59,783
59,783
1,043
20,601
21,644
-
123,300
123,300
2,053
-
2,053
3,095
203,684
206,780
4,694

During the year, the organisation obtained different grant funding for its charitable activities and other supporting initiatives like the Smiley Ark Foodbank, Smiley Ark Kids Clubs, and SmileyArk Holiday Clubs from different donor organisations and government establishments within the United Kingdom, including The National Lottery Community Fund, participated in the government’s coronavirus schemes for employers - Coronavirus Job Retention Scheme (CJRS) for furloughed employees, the government’s Holiday and Food Programme (“HAF”) program delivered in partnership with the London Borough of Bexley, HAF program delivered in partnership with The Royal Borough of Greenwich, the Bexley COVID Discretionary Grant, and The Waste and Resources Action Programme (which operates as WRAP).

All grants obtained for different initiatives were fully expended during the financial year for the respective reasons they were obtained for, which ranged from funding the foodbank initiative, running holiday clubs during the 2021 summer holidays in Greenwich & Bexley, restarting the Kids Club post-COVID by funding operations, and participating in the government’s CJRS furlough scheme to fund staff salaries for qualifying staff persons during the national lockdown period due to COVID-19.

Analysis of Expenditure on Charitable Activities

£

4. Charitable Activities
Activities undertaken directly
Wages and Salaries
Management allowance
Temporary Staff and Recruitment
Staff Training and Other Staff Cost
5. Administrative and Support Cost
Premises Costs
Software
Office running
Bank Charges and Card repayment
Telephone & Internet Charges
Depreciation and Amortisation
Impairments
Motor Expenses
Insurance
Equipment Expensed
Finance Cost
Activities
Undertaken
Directly
Support Cost
Governance
2021
2020
£
£
£
£
£
36,758
-
-
36,758
4,658
103,582
-
-
103,582
47,321
7,010
-
-
7,010
18,560
11,920
-
-
11,920
9,782
1,843
-
-
1,843
697
161,113
-
-
161,113
81,018
-
14,824
-
14,824
13,677
-
1,407
-
1,407
2,809
-
58
-
58
1,008
-
299
-
299
372
-
3,664
-
3,664
2,871
-
14,466
-
14,466
11,522
-
-
-
-
297
-
5,886
-
5,886
3,521
-
980
-
980
672
-
3,275
-
3,275
1,150
1,499
1,499
1,554
-
46,358
-
46,358
39,454

Page 9

SMILEYARK KIDS

Notes forming part of the financial statements for the year ended 31 August 2021

6. Governance Cost
Accountancy Fees
Total Resources Expended
7. Net Incoming Resources for the Year
This is stated after charging:
Depreciation & Amortisation
Impairment
Accountant's Remuneration
Other Accruals
-
-
850
850
600
-
-
850
850
600
161,113
46,358
850
208,322
121,072
2021
£
14,466
-
850
1,393
16,709
2020
£
11,522
297
600
1,643
14,062

8. Trustee Remuneration & Related Pay Transactions

The board of Trustees passed a resolution on 14 January 2020 to appoint the Charity CEO and founder (Mrs Susan Olusola Ikpefuran) as a nd the remaining unpaid trustees consider her appointment to be in the best interest of the charity.

The CEO is the only remunerated trustee as she has led the organisation since inception until SmileyArk Kids became a registered charity in October 2018. During the financial year, the CEO’s renumeration was reviewed and approved by the other trustees and is no longer treated as “Management Allowance”. Consequently, the CEO’s renumeration is now passed through payroll as a remunerated director of the organisation as approved by the Board of Trustees. No other trustees were paid any remuneration or received any other benefits during the year.

The trustees confirm to adopt measures stipulated in clause (7) of the charity's constitution; ensuring any conflicts of interest of this appointment is managed. No trustee or other person related to the charity had any personal interest in any contract or transaction entered by the charitable company during the year.

9. Taxation

As a charity, Smileyark Kids is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that that these are applied to its charitable objects. No tax charges have risen in the Charity.

10. Tangible Fixed Assets

10. Tangible Fixed Assets
COST
At 1 September 2020
Additions in period
Impairments in period
At 31 August 2021
DEPRECIATION
At 1 September 2020
Charge in period
Write-off
At 31 August 2021
NET BOOK VALUE
At 1 September 2020
At 31 August 2021
2021
Computer
Motor
Fixtures
Total
Equipment
Vehicle
& Fitting
£
£
£
£
5,008
50,760
-
55,768
7,892
-
-
7,892
-
-
12,900
50,760
-
63,660
1,720
14,382
-
16,102
3,952
10,152
-
14,104
-
-
5,672
24,534
-
30,206
3,288
36,378
-
39,666
7,228
26,226
-
33,454

Page 10

SMILEYARK KIDS

Notes forming part of the financial statements for the year ended 31 August 2021

11. Debtors: Amounts falling due within one year

Debtors
Other Receivables
Prepayments
Cash at bank and in hand
2021
£
8,936
-
1,524
186,549
197,009
2020
£
11,518
12,464
1,599
84,927
110,508

Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

12. Creditors: Amounts falling due within one year

Deferred Income
Accruals
Provision for Doubtful Debt
Other Payables
Lease Liability - Motor Vehicle Finance
13. Creditors: Amounts falling due after more than one year
Lease Liability - Motor Vehicle Finance
Other Creditors
2021
£
369
1,739
-
39,990
2,291
44,388
2021
£
26,125
16,520
42,645
2020
£
198
2,243
2,053
21,175
3,734
29,401
2020
£
28,308
21,108
49,416

£

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

14. Analysis of Net Assets Between Funds

Tangible Fixed Assets
Current Assets
Current Liabilities
Long-Term Liabilities
Net Assets at 31 August 2021
15. Movements in Funds
Restricted Funds:
SmileyArk Kids - CJRS & Club Restart
SmileyArk Foodbank
Holiday Clubs
Total Restricted Funds
Unrestricted Funds:
General Funds
Total Unrestricted Funds
Total Funds
General
Designated
Restricted
Total
Funds
Funds
Funds
Transfers
Funds
£
31,067
-
2,387
-
33,454
190,789
-
6,220
-
197,009
(9,305)
-
(35,083)
-
(44,388)
(26,125)
-
(16,520)
-
(42,645)
186,426
-
(42,996)
-
143,430
At 1 September
Incoming
Outgoing
Transfers
At 31 August
2020
Resources
Resources
2021
£
£
£
£
-
59,783
(59,783)
-
995
20,601
(21,596)
(0)
123,300
(123,300)
-
995
203,684
(204,679)
-
(0)
70,362
76,711
(3,642)
-
143,430
70,362
76,711
(3,642)
-
143,430
71,356
280,395
(208,322)
-
143,430

Page 11

SMILEYARK KIDS

Income and Expenditure Account for the year ended 31 August 2021

Income and endowments from:
Charitable Activities
Donations and Grants
LESS OVERHEADS
Premises Costs
Hire of Premises
Administrative expenses - General
Software
Office running
Bank Charges and Card repayment
Telephone & Internet Charges
Insurance
Equipment Expensed
Charitable Activities
Activities undertaken directly
Wages and Salaries
Management allowance
Temporary Staff and Recruitment
Staff Training and Other Staff Cost
Professional Fees
Accountancy Fees
Support Costs
Impairments
Finance Cost
Depreciation & Amortisation
Motor Expenses
Net Income/(expenditure)
Total funds brought forward
Prior Year Adjustment
Surplus carried forward
£
£
14,824
14,824
1,407
58
299
3,664
980
3,275
9,683
36,758
103,582
7,010
11,920
1,843
161,113
850
850
-
1,499
14,466
5,886
21,851
2021
£
73,616
206,780
208,322
£
£
13,677
13,677
2,809
1,008
372
2,871
672
1,150
8,883
4,658
47,321
18,560
9,782
697
81,018
600
600
297
1,554
11,522
3,521
16,894
2020
£
110,032
4,694
121,072
72,074
71,356
-
(6,347)
87,757
(10,054)
143,430 71,356

Signature: BayoEmanuel BayoEmanuel (Jun 29, 2022 21:13 GMT+1)

Email: bayoemanuel@yahoo.com

Page 12

SmileyArk Kids Financial Statements 2020-21

Final Audit Report 2022-06-29

Created: 2022-06-29 By: Busola Paul-Taiwo (team@sapphireconsult.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAT4ys5HjjGzOQRIrOERV3nHHfiVqCPFM2

"SmileyArk Kids Financial Statements 2020-21" History

Document created by Busola Paul-Taiwo (team@sapphireconsult.co.uk)

2022-06-29 - 19:35:52 GMT- IP address: 94.3.196.165

Document emailed to bayoemanuel@yahoo.com for signature

2022-06-29 - 19:41:29 GMT

Email viewed by bayoemanuel@yahoo.com

2022-06-29 - 20:12:20 GMT- IP address: 87.248.116.146

Document e-signed by BayoEmanuel (bayoemanuel@yahoo.com)

Signature Date: 2022-06-29 - 20:13:20 GMT - Time Source: server- IP address: 82.11.254.103

Agreement completed.

2022-06-29 - 20:13:20 GMT