2022-12-31-accounts - Sri Lankan Kidney Foundation

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Sri Lankan Kidney Foundation

Charity No. 1180650

Company No. CE015589

Trustee's Report and Unaudited Accounts

31 December 2022

Sri Lankan Kidney Foundation Contents

	Pages
Trustee's Annual Report	2 to 2
Statement of Financial Activities	3 to 3
Summary Income and Expenditure Account	4 to 4
Balance Sheet	5 to 5
Statement of Cash fows	6 to 6
Notes to the Accounts	7 to 7
Detailed Statement of Financial Activities	8 to 15
Independent examiners report	16 to 17

Page 1

Sri Lankan Kidney Foundation Trustees Annual Report

The Trustee, who is also a director of the charity for the purposes of the Companies Act 2006, presents their report with the unaudited financial statements of the charity for the period ended 31 December 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. CE015589

Charity No. 1180650

Registered Office

2 Montgomery close, Grantham NG31 7GG

Director and Trustee

The Director of the charitable company are its Trustee for the purposes of charity law. The following Director and Trustee served during the year:

C. Perera

Accountants

Grip Business Consultancy Ltd 101 Lockhurst Lan e Coventr y CV6 5SF

The Trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

C. Perera Trustee 31 December 2022

Page 2

Sri Lankan Kidney Foundation Trustees Annual Report

A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...

A large charity must provide an explanation of any material expenditure occurred to raise income in the future...

A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...

PLANS FOR FUTURE PERIODS

A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...

A large charity's report should explain the trustees perspective of the future direction of the charity...

Signed on behalf of the board

C. Perera Trustee 31 December 2022

Page 3

Sri Lankan Kidney Foundation Statement of Financial Activities

for the year ended 31 December 2022

Unrestricted funds 2022 £ 40,799 1,500	Endowment funds 2022 £ - -	Total funds 2022 £ 40,799 1,500	Total funds 2021 £ 5,600 2,579
42,299 20,368 14,518 73	- - - -	42,299 20,368 14,518 73	8,179 7,739 650 626
34,959 -	- -	34,959 -	9,015 -
7,340 -	- -	7,340 -	(836) -
7,340	-	7,340	(836)
7,340 -	- 10,516	7,340 10,516	(836) 11,353
7,340	10,516	17,856	10,517

Page 4

Sri Lankan Kidney Foundation Summary Income and Expenditure Account

for the year ended 31 December 2022

Income Gross income for the year Expenditure Total expenditure for the year Net income/(expenditure) before tax for the year Net income /(expenditure )for the year	2022 £ 42,299 42,299 34,959 34,959 7,340 7,340	2021 £ 8,179
		8,179
		9,015
		9,015
		(836)
		(836)

Page 5

Sri Lankan Kidney Foundation Balance Sheet

at 31 December 2022

at 31 December 2022
Company No. CE015589 Notes 2022 £ Current assets Cash at bank and in hand 17,856 17,856 Net current assets 17,856 Total assets less current liabilities 17,856 Net assets excluding pension asset or liability 17,856 Total net assets 17,856 The funds of the charity Restricted funds 10 Endowment funds 10,516 10,516 Unrestricted funds 10 General funds 7,340 7,340 Reserves 10 Total funds 17,856	2021 £ 10,517
	10,517
	10,517 10,517
	10,517
	10,517
	10,516
	10,516 -
	-
	10,516

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.

Approved by the board on 31 December 2022

And signed on its behalf by:

C. Perera Trustee

31 December 2022

Page 6

Sri Lankan Kidney Foundation Statement of Cash flows for the year ended 31 December 2022

Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Net cash provided by/(used in) operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances	2022 £ 7,340 (1,500) 5,840 1,500 1,500 - 7,340 10,517 17,857 17,856 17,856	2021 £ (836) (2,579)
		(3,415) 2,579
		2,579

		-

		(836)
		11,353
		10,517

		10,517

		10,517

Page 7

Sri Lankan Kidney Foundation Notes to the Accounts

for the year ended 31 December 2022

1 Accounting policies

Basis of preparation

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

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Sri Lankan Kidney Foundation Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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 normally recognised at their settlement amount after allowing for any trade discounts due.

Page 9

Sri Lankan Kidney Foundation Notes to the Accounts

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.

Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

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

Page 10

Sri Lankan Kidney Foundation Notes to the Accounts

3 Statement of Financial Activities - prior year

3 Statement of Financial Activities - prior year
Income and endowments from: Donations and legacies Other Total Expenditure on: Raising funds Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies 5 Other income	Unrestricted funds 2021 £ 5,600 2,579 8,179 7,739 650 626 9,015 (836) (836) (836) - (836) Unrestricted £ 40,799 40,799 Unrestricted £ 1,500 1,500	Endowment funds 2021 £ - - - - - - - - - - 6,970 6,970 Total 2022 £ 40,799 40,799 Total 2022 £ 1,500 1,500	Total funds 2021 £ 5,600 2,579
			8,179 7,739 650 626
			9,015
			(836)
			(836)
			(836) 6,970
			6,134
			Total 2021 £ 5,600
			5,600
			Total 2021 £ 2,579
			2,579

Page 11

Sri Lankan Kidney Foundation Notes to the Accounts

6 Expenditure on raising funds

Costs of generating voluntary income 7 Expenditure on charitable activities Expenditure on charitable activities Governance costs 8 Other expenditure General administrative costs	Unrestricted £ 20,368 20,368 Unrestricted £ 14,518 14,518 Unrestricted £ 38 35 73	Total 2022 £ 20,368 20,368 Total 2022 £ 14,518 14,518 Total 2022 £ 38 35 73	Total 2021 £ 7,739
			7,739
			Total 2021 £ 650
			650
			Total 2021 £ - 626
			626

9 Staff costs

No employee received emoluments in excess of £60,000.

Page 12

Sri Lankan Kidney Foundation Notes to the Accounts

10 Movement in funds

Restricted funds: Endowment funds: Total Unrestricted funds: General funds Total funds 11 Analysis of net assets between funds Net current assets 12 Reconciliation of net debt Cash and cash equivalents Net debt	Incoming resources (including other gains/losses ) £ - - 42,299 42,299 At 1 January 2022 £	Resources expended £ - - (34,959) (34,959) Unrestricted funds £ 17,856 17,856 Cash flows £	At 31 December 2022 £ 10,516
			10,516
			7,340
			17,856
			Total £ 17,856
			17,856
			At 31 December 2022 £
	10,517	7,339	17,856
	10,517 10,517	7,339 7,339	17,856
			17,856

13 Related party disclosures *Controlling party*

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 13

Sri Lankan Kidney Foundation Detailed Statement of Financial Activities

for the year ended 31 December 2022

Income and endowments from: Donations and legacies Other Total income and endowments Expenditure on: Costs of generating donations and legacies Total of expenditure on raising funds Charitable activities Total of expenditure on charitable activities Other expenditure General administrative costs, including depreciation and amortisation Bank charges Exchange rate (gain)/loss Software, IT support and related costs Sundry expenses Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure)	Unrestricte d funds 2022 £ 40,799 40,799 1,500 1,500 42,299 20,368 20,368 20,368 14,518 14,518 14,518 38 38 35 - - - 35 73 34,959 - 7,340	2022 £ - - - - - - - - - - - - - - - - - - - - - -	Total funds 2022 £ 40,799 40,799 1,500 1,500 42,299 20,368 20,368 20,368 14,518 14,518 14,518 38 38 35 - - - 35 73 34,959 - 7,340	Total funds 2021 £ 5,600
				5,600
				2,579
				2,579
				8,179 7,739
				7,739
				7,739 650
				650
				650 -
				-
				- 45 6 575
				626
				626
				9,015 -
				(836)

Page 14

Sri Lankan Kidney Foundation Detailed Statement of Financial Activities

Sri Lankan Kidney Foundation Detailed Statement of Financial Activities
Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	7,340 - 7,340 - 7,340	- - - 10,516 10,516	7,340 - 7,340 10,516 17,856	(836) -
				(836)
				11,353
				10,517

Page 15

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of Sri Lankan Kidney Foundation

On accounts for the year ended Set out on pages

31/12/2022 Charity no (if any) 1180650 3 to 12 pages

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 / 12 / 2022.

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

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

Independent [The charity’s gross income exceeded £25,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of Chartered Institute of Management Accountants (CIMA)

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Please delete the words in the brackets if they do not apply.

Signed: Date: 23/08/2023 Name: Harisuthan Sharma Ganeswaran

Relevant professional Chartered Institute of Management Accountants (CIMA) qualification(s) or body

Oct 2018

IER

(if any):

Address: 101 Lockhurst Lane

Coventry CV6 5SF

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the The charity has been advised to keep their records on an accounting package examiner wishes to to make the examination process in more reliable in the coming years. disclose .

Oct 2018

IER