COMPANY REGISTRATION NUMBER: CE016940 CHARITY REGISTRATION NUMBER: 1182625
Kelly's Heroes Company Limited by Guarantee Unaudited Financial Statements 31 March 2024
J SWEENEY ACCOUNTANTS
Accountants and Business Advisors Seven Grange Lane Pitsford Northampton NN6 9AP
Kelly's Heroes
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Statement of financial activities (including income and | |
| expenditure account) | 3 |
| Statement of financial position | 4 |
| Statement of cash flows | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
| Notes to the detailed statement of financial activities | 15 |
Kelly's Heroes
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Chair's report
With the Year being a difficult one for everyone due to continued high inflation and the Cost-of-Living crisis, as with other Charities, we saw a significant drop in Fundraising activities /income. That said,the signs for the current Year are showing an improvement.
December 2023 saw the N-SAS contract come to an end. With Government and NHS finances as they currently are we were told that there was no new funding available to continue the scheme. This was extremely disappointing as the general consensus was that the scheme was achieving well above the levels of support that it was intended to provide. The Board decided that although there was no further Public Health funding available it would continue to support people through its own revenue streams rather than turn people away that had been guided down that pathway.
Overall, although the Year shows a loss, our view is that the money spent has been to the benefit of people who needed our support. At a time where waiting lists in the Mental Health sector are at an all time high, we continue to maintain our objective of having no waiting list and our targets times for referrals & counselling sessions are being met. Our “listening ear service” or online chat service now has an increased capacity and extended service hours and is receiving an average of 15-20 calls per evening. This is testament to the hard work and dedication of our CEO and team.
With an increase in Fundraising activities during 2024/25, we are confident that we can maintain our current service levels going forward and we are extremely grateful to our dedicated supports and fundraisers.
1
Kelly's Heroes
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Reference and administrative details
Registered charity name Kelly's Heroes Charity registration number 1182625 Company registration number CE016940 Principal office and registered 49 Doddington Road office Wellingborough Northants NN8 2JH The trustees R Hewitt K York J Hewitt L Foster M Thomas K Hanger B Thomas M Wright Accountants J Sweeney Accountants Accountants and Business Advisors Seven Grange Lane Pitsford Northampton NN6 9AP
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 17 December 2024 and signed on behalf of the board of trustees by:
R Hewitt J Hewitt Trustee Trustee
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Kelly's Heroes
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 135,544 | 82,332 | 217,876 | 579,072 |
| Investment income | 6 | – | – | – | 1 |
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| Total income | 135,544 | 82,332 | 217,876 | 579,073 | |
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| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 7 | 114,256 | 58,494 | 172,750 | 279,875 |
| Expenditure on charitable activities | 8,9 | 140,071 | – | 140,070 | 127,632 |
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| Total expenditure | 254,327 | 58,494 | 312,820 | 407,507 | |
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| Net (expenditure)/income and net | |||||
| movement in funds | (118,783) | 23,838 | (94,944) | 171,566 | |
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| Reconciliation of funds | |||||
| Total funds brought forward | 371,790 | 46,976 | 418,766 | 247,200 | |
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| Total funds carried forward | 253,007 | 70,814 | 323,821 | 418,766 | |
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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 6 to 12 form part of these financial statements.
3
Kelly's Heroes
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Debtors | 12 | 4,557 | 49,320 |
| Cash at bank and in hand | 335,781 | 393,688 | |
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| 340,338 | 443,008 | ||
| Creditors: amounts falling due within one year | 13 | 16,516 | 24,242 |
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| Net current assets | 323,822 | 418,766 | |
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| Total assets less current liabilities | 323,822 | 418,766 | |
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| Funds of the charity | |||
| Restricted funds | 70,814 | 46,976 | |
| Unrestricted funds | 253,007 | 371,790 | |
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| Total charity funds | 15 | 323,821 | 418,766 |
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For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 17 December 2024, and are signed on behalf of the board by:
R Hewitt Trustee
J Hewitt Trustee
The notes on pages 6 to 12 form part of these financial statements.
4
Kelly's Heroes
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (94,944) | 171,566 |
| Adjustments for: | ||
| Other interest receivable and similar income | – | (1) |
| Changes in: | ||
| Trade and other debtors | 44,763 | (49,209) |
| Trade and other creditors | (7,726) | 13,435 |
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| Cash generated from operations | (57,907) | 135,791 |
| Interest received | – | 1 |
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| Net cash (used in)/from operating activities | (57,907) | 135,792 |
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| Net (decrease)/increase in cash and cash equivalents | (57,907) | 135,792 |
| Cash and cash equivalents at beginning of year | 393,688 | 257,896 |
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| Cash and cash equivalents at end of year | 335,781 |
393,688 |
The notes on pages 6 to 12 form part of these financial statements.
5
Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
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 49 Doddington Road, Wellingborough, Northants, NN8 2JH.
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
There are no material uncertainties about the charity's ability to continue.
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.
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Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
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:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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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.
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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:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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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.
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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.
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.
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Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Financial instruments (continued)
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.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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
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Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations received | 135,544 | – | 135,544 | ||
| Restricted income | – | 82,332 | 82,332 | ||
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| 135,544 | 82,332 | 217,876 | |||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations received | 381,792 | – | 381,792 | ||
| Restricted income | – | 197,280 | 197,280 | ||
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| 381,792 | 197,280 | 579,072 | |||
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| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | – | – | 1 | 1 | |
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| 7. | Costs of raising donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Costs of raising donations and legacies | 114,256 | 58,494 | 172,750 | ||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Costs of raising donations and legacies | 229,675 | 50,199 | 279,875 | ||
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9
Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds |
|---|---|---|
| Funds | Funds | 2024 |
| £ | £ | £ |
| 140,071 | – | 140,070 |
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| Unrestricted | Restricted | Total Funds |
| Funds | Funds | 2023 |
| £ | £ | £ |
| 27,248 | 100,385 | 127,632 |
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9. Expenditure on charitable activities by activity type
| Activities | ||
|---|---|---|
| undertaken | Total funds | Total fund |
| directly | 2024 | 2023 |
| £ | £ | £ |
| 140,070 | 140,070 | 127,632 |
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10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 115,527 | 105,591 |
| Employer contributions to pension plans | 2,634 | 1,996 |
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| 118,161 | 107,587 | |
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The average head count of employees during the year was 4 (2023: 4).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
11. Trustee remuneration and expenses
The trustees are not entitled to, nor did they receive, any remuneration during the year. The trustees may be reimbursed for travelling and other costs incurred by them on charity business.
12. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 4,557 | 49,320 |
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Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
13. Creditors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 13,997 | 17,166 |
| Social security and other taxes | 2,519 | 7,076 |
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| 16,516 | 24,242 | |
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14. 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 £2,634 (2023: £1,996).
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2023 | Income | Expenditure | 4 | |
| £ | £ | £ | £ | |
| General funds | 371,790 | 135,544 | (254,327) | 253,007 |
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| At | ||||
| At | 31 | March 202 | ||
| 1 April 2022 | Income | Expenditure | 3 | |
| £ | £ | £ | £ | |
| General funds | 246,920 | 381,793 | (256,923) | 371,790 |
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| Restricted funds | ||||
| At | ||||
| At | 31 | March 202 | ||
| 1 April 2023 | Income | Expenditure | 4 | |
| £ | £ | £ | £ | |
| Restricted Fund | 46,976 | 82,332 | (58,494) | 70,814 |
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| At | ||||
| At | 31 | March 202 | ||
| 1 April 2022 | Income | Expenditure | 3 | |
| £ | £ | £ | £ | |
| Restricted Fund | 280 | 197,280 | (150,584) | 46,976 |
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Kelly's Heroes
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Analysis of changes in net debt
| At | |||||
|---|---|---|---|---|---|
| At | 1 | Apr 2023 | Cash flows | 31 Mar 2024 | |
| £ | £ | £ | |||
| Cash at bank and in hand | 393,688 |
(57,907) |
335,781 |
12
Kelly's Heroes
Company Limited by Guarantee
Management Information
Year ended 31 March 2024
The following pages do not form part of the financial statements.
13
Kelly's Heroes
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations received | 135,544 | 381,792 |
| Restricted income | 82,332 | 197,280 |
|
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| 217,876 | 579,072 | |
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| Investment income | ||
| Bank interest receivable | – | 1 |
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| Total income | 217,876 | 579,073 |
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| Expenditure | ||
| Costs of raising donations and legacies | ||
| Light and heat | 114,256 | 213,765 |
| Repairs and maintenance | 58,494 | 66,110 |
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| 172,750 | 279,875 | |
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| Expenditure on charitable activities | ||
| Wages and salaries | 115,527 | 105,591 |
| Pension costs | 2,634 | 1,996 |
| Repairs and maintenance | 615 | 168 |
| Insurance | 574 | 574 |
| Bank fees | 45 | 63 |
| Computer expenses | 3,216 | 3,151 |
| Staff training | 192 | 3,092 |
| Subscriptions | 4,495 | 4,849 |
| General expenses | 781 | 953 |
| Telephone | 694 | 1,722 |
| Printing, postage, stationery and advertising | 11,297 | 5,473 |
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| 140,070 | 127,632 | |
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| Total expenditure | 312,820 | 407,507 |
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| Net (expenditure)/income | (94,944) | 171,566 |
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Kelly's Heroes
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Costs of raising donations and legacies | ||
| Project costs | 114,256 | 213,765 |
| Restricted costs | 58,494 | 66,110 |
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| 172,750 | 279,875 | |
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| Costs of raising donations and legacies | 172,750 | 279,875 |
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| Expenditure on charitable activities | ||
| Activities undertaken directly | ||
| Wages and salaries | 115,527 | 105,591 |
| Pension costs | 2,634 | 1,996 |
| Motor and travel expenses | 615 | 168 |
| Insurance | 574 | 574 |
| Bank fees | 45 | 63 |
| Computer expenses | 3,216 | 3,151 |
| Staff training | 192 | 3,092 |
| Subscriptions | 4,495 | 4,849 |
| General expenses | 781 | 953 |
| Telephone | 694 | 1,722 |
| Printing, postage, stationery and advertising | 11,297 | 5,473 |
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| 140,070 | 127,632 | |
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| Expenditure on charitable activities | 140,070 |
127,632 |
15