KIDSBANK CHESTER FINANCIAL STATEMENTS YEAR ENDED 31st MARCH 2024 Ch•rlty Plumber: 1190234 Company Number: CE022385 SIDERY & CO Chartered Accountant Independent Examiner Wrexham Road, Chester. CH4 7QQ
KIDSBANK CHESTER FINANCIAL STATEMENTS FOR THE YEAR ENDED 3tst MARCH 2024 coKrEiirs PAGES Legal and admlnlstratTrve information Report of the Trustees Report of the Chalrman 3to4 Report of the Independent examlners Statement of finand* artlvltles Balance sheet Notes to the finandal statements 8toll
Pa8e I KIDSBANK CHESTER LEGAL AND ADMINISTRATIVE INFORMATION Chorlty reglstered Mmber Company re81sterod Nmber 1190234 CE022385 Re8iStered 3rd July 2020 Govemlry lrntNment CIO Foundation dated 3rd July 2020 Trustees Joanna K Nutt {co{hrI Laura Bellis IC¢>Chalrl Christlne Howse (Secretary) Suzannah Flack Danlelle Mlllln8t( Katle Henderson (Appolnted I Michael Denby (Appointed) Kate Mylthreest IAppointed I Nlcholas J Pettiale (Resigned) Catherlne Pettln8ale IResl8ned} Founder Catherlne Pettln8ale 21 G¥den Lane Chester CH14EU Independert Ex•rnlner Gerald Sldery ACA Sidery & Co Chartered Accountant 7 Blacon Point Road Chester. CHI 5LD
Pap2 KIDSBANK CHEsfER REPORT OF THE TRUSTEES FOR THE 12 MONTHS ENDED 31st MARCH 2024 The trustees present their Teport •nd the financval 5tat•ments of KidsB•nk Chesterforthe year ended 3tst March 2024. The trustee5 hav• adopted the provtslons of the St•m•nt of Recommended Practlce ISORPI Accounting ond Reporttng bychoritles (FRS102J in pPar1rQthe annual report and the flnancial Statements of the charity. CONStITUTION KldsBank Chestorw•s formed on 3rd July 2020 a5a ao Foundation srRUCWR& GOVERNANCE AND MANAGEMEI The ch•rlty ts controll•d by the trust8•& At regular rneetinas, the trustee5agrte the broad str•tegy and area5 of aetlvlty for th tharfty. including conslderat)n of grént makln& reserves nd risk marÈa8ernent pollcles and perforniance. The trustees keep their5kÈll requirements under rwlew and in th• nt that a tru$toe retires or addltkn81 newtru5to•s ère requiTed.th•y will seek out 50m•one who is able to bring bn the fi&ded expertls•. The appjintment 6sthe decislon of the board. PUBUC 8Et4EFifAND PRINCfPALAcnviTY KidsBank Chester Is a charity which aym5 to help, SUPPOTL relIe and prevent poverty aTThJT sociallyand l or •¢onomcally dl$•dvantaged families lfving within a 20 mile radius of thestsr whoare unable to provide basK equipment. eonsumabjes, clothini and tvysfgr babies and ehlh4r•n a¥ed upto 12 years old. This is carried Out by supplyini thèm with rvèw Ind recycled ttems free of charge and providin#¥ signpostin¥ sete, where relevant, to other professlonal organiutions who rnay be able to assisi them with ne•ds arisingfromthelrsocial and econom1¢ disadvantw. SUMMARY OF FINANCIALACnVtnES KldsBank Che5terhod an incom of £125,098 in theyear. Thi5 includes £3,000 8r4nttowards Ten costs. £20,417 towards salary costs and £39,852 in grnnts towards stock & referrnl tems. It had expenditure rjf £115,782 whl¢h wves a surplus forthe year of £9316. At end of the yearthe R•stricted Funds were £42,373 wh¥¢h (s restricted to pay for future 5to¢k purch•ss, proiects and salarycosts. Ther are Desi%noted funds of £3S,664 of which £27,000 is earmarked forfvture Opernt1 costs as part of its Reserves Policy. RESERVES POLICY The trust•es con&dtrth•t Ilquid re5•N•s $uld repros•nt at least stx months. of adminsstratfve •xFenditure. RISK MANAGEMÉNT The trustees have dr•wTr up a risk mp detailir¥J malor dsks to whl¢h KldsBank Is exposed. They have reviewed those risks and havo estsbllshed systems •nd procedures to mana8e them. v order of the board Laur• 8ellls Coihair Dated: 30 F2024
P•8e 3 KIDSBANK CHEsfER REPORT OFTHE CHAIR FOR THE YEAR ENDED 31st MARCH 2024 Bulldlnq on the pastondsecwlng ourfvture In 2023 we entered the year building on the foufidatlons lald in the preylous 12 months and contlnued to 8row and develop. We must thank our fellow Trustees for thelr tlreless contributlon to the 8ovemance, oversight and smooth runnln8 of KidsBank. To say that we are busy is a huge understatement as we see, fifst-hand. the devastatin8 effects of the 'cost of Ilvln8' crlsls, even on families in empioyynent and with a steady income. Since our first referral in May 2019, we have processed 3.835 ferra1$, helpln8 1,961 familles and 4,011 chlldren, provin8 that the service that KldsBank provides has never been more needed. This Is borne out by the increase in items gifted from one family to another- more than 220,640 to 31 December 2023. Klds8ank Servke Provlslon: we continue to sefve children from 12-year olds. Indudin8 Increasln8 our support with unrform and 8ifts at Christmas. fr(¥m the KidsBank Hub In the centre of Chester whlth contlnues to be an Inryeasln8 hlve of actlvlty. Alongde Katle Knott as our Hub Manager who looks after our volunteers. we employed Dee Denton to replace Usa Metcalf as the Operatlons Mana8er workln8 directly with Cathy. Realisin8 the need to structure for further growth. 8ecky Kenton joined the team in July as Operations Assistant. At the end of March, we sald 8oodbye to Cathy. who after startin8 and 8rowin8 the amazln8 work at KldsBank. felt It was time for her to retlre. We thank her for everythln8 and wlsh her all the bestl This year our'one More Grfv Christmas campal8n yw 1,146 local thildren recelve 7 presents each. We fvlly expert this number to exceed 1,5LN) thls comln8 year. Our unlform bank 8ave out 2,826 Items to 390 thlklren. KidsBump [our matemity wearl has proved very popular t¢)0. Kids8ank Pop-ups are now an Inte8ral part of our servlce, sIttI alongslde local food banks, they provlde face to face contart *ryth the reciplents of our support, whllst roottr us In the local communbties that we serve. KldsBank Profile •nd re•ch: in response to increased need we find our serrflces In demand acioss Cheshire and in to Ellesmere Port and Flintshire. We established a satellite hub in Ellesmere Port. from where we have been able to run the Unrfomi and the Christmas projerts, freein8 up valuable space in the Chester Hub. Social Media continues to be 3 useful platform for our'story teflirf brin8in8 hei8htened awareness of both need and sdution. Facebook: 7.1))O followers and Instagram: 1.750 followers We regularly have volunteers from local businesses, both hdpin8 the Hub, the projects and helping to raise vital fund&
Page 4 KIDSBANK CHESTER REPORT OF THE CHAIR (continued) KldsBonk an inte8rn1 servic¢: Our professional referral system means that families have to reconneLt wtth their wider support network and gives US the reassurance that a 'family in need, is on the radar of other Service providers. We have more than 250 referral partners- these include the NHS, Sooal Services. the Police, schools and other local chorities. We continue to rely upon the outstanding commitment of our volunteers. good quality donation5 from the public ar¢d the financial support of grant makin8 bodies and charitable foundatlons. Like rnany small charities who provide essential services, V are always under pressure to attratt financial support. As the nee(Is in sooety grow and the financial crisls continues to bite there are more charitles chasing support from smaller funds who themselves are havlng to narrow the crlterla for thelr support. We often comment thot without our donor5, volunteer5 and funders where would the families go for the loving support that KidsBank provides. We thank everyone of you who has enabled us to be here for the past year and trust that whilst there is a need there will be a KidsBank m/.4 Laura Bellis. Jo Nutt Co-chairs of Trustees
Page S KIDSBANK CHESTER INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANaAL sfATEMENTS I report on the accounts of the Trust for the year ended the 31st March 2024. which are set Jt on page$ 6 to 11. RespbIll$ and basls ol rewt As the charity trustees of the trust you are responsible for the preparatlon of the accounts in accordance with the requirements of the Charities Act 20111.the Act'l. I report In respect of my examination of the Trust's accounts carrled out under 5ectlon 145 of the 2011 Aet and in carrying out my eminatIon I have followed all the applicable Dlrections liven by the Charity Commission under section 145151{bl of the ACL lfidependent eumlner's st•temwi The Charity's incorne did not exceed £250,(XKJ. l am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants In England & Wales. Ind•pend•nt •x•mln•r's statthnont I h•ve completed my examinatlon. I tonfirm that no materval rnatters have come to rny Jttention in connection with the examin•tion which gives rn¢ ¢•use to believe that in. any material respect: • the accountiw records were not kept in accordance wlth section 130 of the Charlties • the Jccounts did not •ryord with the •ccountin8 records. or • the accounts did not Comp wlth the •pplicable requirements concernini the form and content of accounts Set out in the ChJrities (Accounts and Reports) Regulations 21K18 other th•n any requirement that the accounts 8ive • 'true and fairf view which is not matter considered as part of an independent examination. I h•ve no concefD$ •nd hve come acr055 no other mjtters in connection with the examinatK>n to which attention should be drawn in this report in order to enable proper Understandi of the •cwunts to be reached. Gerald J. Sldery ACA Sldery & Co Chartered Accountsnts 7 81acon Point Road Chester, CHI 5LD
KIDSBANK CHEsfER STATEMENT OF FINANaAL ACTMllES YEAR ENDED 31st MARCH 2024 Unr•strl¢t•d 0•siRNted R•strlct•d Funds Funds T¢x•h 2024 Totsls 2023 INCOMING RESOURCES Incomlrrf resourt•sfrom nerii•d fvnds: Voluntsry Incom• Grnnts r•c•fv•d Sa5 of cloth InvestrnBnt Incom• TOTAL INCOMING RESIXIRCES 44A)4 79014 53,%1 53,026 1,720 A40 46,074 15,440 63,584 108.707 RESIYJRCES EXPENDÉD Costs of pneratlni fvnds ii,tsi IL151 17,271 Grnnts p•kl Adrninlstntlon ¢osts Governance Costs 454 10.102 56 92147 6.225 49,468 965 73,929 328 1.228 62,021 TOTAL RE$AEXPE1 43.659 I.782 NEf INCOmEIIEXPENDITiE) FOR THEYEAR I.94 19.925 9316 34,778 Tr•nsf•rof funds 7,295 N•t mov•m•nt In fvnd¥lor th• yr 13S.6521 32.338 9J16 34.778 qnus brought forw•rd 58.934 3.326 29.743 57,225 nc•5urr5•d forward 23.282 35,664 41373 101319 92.003 Th• charfty has no r•co8nls•d or los*sothrthan th• r•sults forth• •r¥S Mt out •bty•. All th• artivltl•sof the ch•rity ar• cl•ss•d continu1.
Page 7 KIDSBANK QIESTER BALANCE SHEET AS AT 31st MARCH 2024 Note 2023 FIXED A5SErs Tan8ible assets CURRENT ASSETS Debtors Cash at bank and in hand 456 92,122 iQ666 101666 92,578 CREOITORS: amounts fallin8 due within one year 1347 575 Nrf CURREKf ASSETS 101319 92.(K13 NEf ASSETS 101319 92,(Ki3 FUNDS Unrestrirted funds De5i8nated Funds Restricted fvnds li 58,934 3.326 29,743 35.663 45.373 TOTAL FUNDS 101319 92,003 These finantial statements were approved by the trustees on SrJ hk,& ,2024 and are $18ned on thelr behalf by: Laura Bellis Co-chair Joanna Nurt Co{hr The notes on pages 8 to 11 fwm pjrt of these flnandal statenxnts
Page 8 KIDSBANK CHEsfER NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 3tst MARCH 2024 AccouNfiNG pouaES Basls of Prep•ratlon The finanaal statements have been prepared under the historical cost convention, and In accordance with the Companies Act 2(, The Charitles Act 2011, the Statement of Recommended Practlce ISORPI, "Accountin8 and Reportin8 by Charities Irevised 2CK15)", and the Financial Reportin8 Standard for Smaller Entlties IFRSSEI, effective Aprll 20Cé. Fund accountl Unrestrirted funds are general funds which are available for use at the dlstretlon of the trustees In furtherance of the 8eneral abjertives of the charity and which have not been desi8nated for other purpose5. Restrlcted funds are funds whlch are to be used In accrydance wlth spedfic restrlctlons Imposed by donors or whlch have been rnlsed by the charity for particular purposes. The cost of ralsln8 and administerln8 suth funds are char8ed a8ainst the specific fvnd. The alm and use of each restricted fund Is set out in the notes to the finanaal statements. Investment Inc(Jme and 8ains are allocated to the appropriate fund. Incom1 rn%>urus All incomin8 resources are Included In the ststement of financial aLtItIeS when the chaflty Is legally entitled to the Income and the amount can be quantified wlth reasonable accuracy. Donated servlces or facllltles whlch comprlse donated services, are Included In Income at a valuation whlth Is an estimate of the finanoal cost borne by the donor where such a cost Is quantffiable and measurable. No Income is rec(vxnised where therels no financial cost borne by a thlrd party. Income tax recovwable in relation to donations recelved under Glft Aid or deeds of covenant Is recognlsed at the time of the donation. Income tax rec(Nerable in relation to invesbment income Is reco8nlsed at the tlme of the Investment inc(me is received. No amounts a Indthled In the finandal statement for services donated by volunteers.
Pa8e 9 KIDSBANK CHESTER NOTES TO THE FINANCIAL STATEMENrs YEAR ENDED 3tst MARCH 2024 ACCOUPMNG POUOES {contlN*dl Resources expernled All expenditure is accounted for on an accruals basis and has been dassified under headings that a88re8ate all costs related to the cate80ry. Where costs cannot be directly attributed to particular activites they have been allocated on a basis consistent with the use of the resources. Fundraisin8 costs are those Incurred in seekln8 voluntsry ctributIonS and do not indude the costs of disseminatin8 infomiation in support of the charitable activities. Support costs are those costs Incurred directly In support of expenditure on the objects of the company. Grants payable are thar8ed In the year when the offer Is made except In the cases where the offer Is condltlonal. such 8rants belng recognised as expenditure when the cond1t1$ attoching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted 35 a commltment. but accrued as expendlture. Governance costs are those incurred in connection with admlnistration of the tharlty and compllance with constitutional and statutory requirements. Tarylble flxed assets and depreclltlon Tangible fixed assets are stated at cost less depredatlon. Assests are capltallsed where the value of each individual asset exceeds £SCKI. Depredatlon Is provlded at rates calculated to Write off the cost of the flxed assets, $5 thelr estlmated resldual value. over their expected useful Ilves on the followin8 bases.. Computer equlpment- 33% straight Ilne Flxtures & fittin8s- 25% strai8ht line VOLurirARY INCOME 2024 2023 Unrestrltted donations Re5trlcted dOnaon5 Glft Aid Recoverable 43.999 44,779 9,182 405 53,961 COSTS OF GENEIIATING FUNDS 2024 2023 Stock & Referral Items IL151 ii.lsi 17,271 17,271
Pa8e 10 KIDSBANK CHEsfER NOTES TO THE FINANCIAL STATEMENrs YEAR ENDED 31st MARCH 2024 GRANTS PAYABLE 2024 2023 Grants made to, events funded for irKlividuals 10,556 10.556 6,225 6,225 COSTS OF CHARITABLE AcrivmES 2024 2023 Rent & Storage Property refurblshment costs PPE Staff costs Inote 71 Other administrative costs 18.229 17,717 424 42.667 31.527 92,847 215 17.138 14,398 49,468 GOVERNANCE cosrs 2024 2023 Independent examiner fee Insurances 575 39) 965 494 l.Cy34 STAFF COSTS 2024 2023 W4es and salarles 42,667 42.667 17,138 17,138 The Trust relied also on Voluntary help thrghrt the period. Fixtures & Flttin85 FIXED ASSErs Cost orv•luatlon Openin8 & dosin8 balances Total Deweclrtlon Openin8 & dosin8 babances Net Book Value Opening & dosiryg balances DEwfoRS 2024 2023 Gift Aid receivable 456 456
KIDS8ANK CHESTER NOTES TO THE FINANUAL sfATEMEMrs YEAR ENOED 3tst hlARCH 2024 10. CAEDITOAS F¥111 due wtthln one year: Trade credfjtOf5 HMAC 747 Accruals 575 575 1.347 11. STATEMEPIT QF Fiff4DS As at 31st Marth 2023 ExpendIre &Tfrs As It 31st March 2024 lrton Unr•strkted fvndj G•n•i•l reseryes D•sn•t•d Funds 58.934 3.326 62.260 44074 15.440 61.514 184.7251 16.897 167.828 20.283 35.663 55.946 Restrkted funds 29.743 47.954 47.954 45.373 45.373 Tol•lfvnth 92.003 125.098 115.782 101.319 Th• i•n•rl r•Mrws •rn th• fr•• fvnds of th• ¢h•rlty ¥thkh •r• not d¢sn•ted for pIrtl•f puroposes. OesNted frjnds •r• thtss• fvnd$ whkh •r• Mr m•fk•d byth• trust••sfof sp•dfk purpJse5, bji do not h•? any rnstkthx& pl•c•d on th fund& DESIGNATED FUNDS Cknlni Fund 27.0fy) Fur#ls h•ld durlwth• yt•r w•r•.' Runnlni Costs R•Th Xmas Fund 3,326 REsTricfED FUNDS Funds held durlrv4 the yearwere.. Bluett•t Chester- Rental Fund stock & Rtftrrnls Funds S•l•f6es Fund 15,OCA) 14,625 118 29.743 Fund 39,347 6.026 ANALYSIS OF NET ASSEfs rnN FUNDS Flxed assets Current assets Current 1kibl11 Totsl 57.293 Iy7 55.946 45373 102.666 1.347 101.319 45.373 fflclent restyJrt•s ar• h•hl to •n•bl• •ath fund to b• •plled kn •c¢tydan wlth any restriction5.