ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024
GOLD FOR KIDS
CHARITY REGISTRATION No: 1190301 COMPANY REGISTRATION No: 11990400
Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham PO18 8NF
GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
| CONTENTS | |
|---|---|
| Page 3 | Legal and Administrative Information |
| Pages 4 to 6 | Report of the Directors |
| Page 7 | Statement of Financial Activities |
| Page 8 | Balance Sheet |
| Pages 9 to 14 | Notes to the Financial Statements |
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NAME Gold for Kids CHARITY NUMBER 1190301 COMPANY REGISTRATION NUMBER 11990400 DATE OF CHARITY REGISTRATION 8th July 2020 START OF FINANCIAL YEAR 1st June 2023 END OF FINANCIAL YEAR 31st May 2024 TRUSTEES THAT SERVED DURING THE Dr L Casanova Sanjuan PhD YEAR TO 31ST MAY 2024 (ALSO Dr D Holmes Msc DIRECTORS UNDER COMPANY LAW) Dame B Ogilvie (Resigned 01.02.24) Mark Topley (Appointed 17.04.24)
REGISTERED ADDRESS
19 Wimpole Street London W1G 8GE
GOVERNING DOCUMENT
Memorandum and Articles of Association incorporated 1st March 2020 as amended by special resolution dated 20th June 2020 as registered at Companies House 26th June 2020.
BANKERS
HSBC Bank Plc 21 Kings Mall King Street W6 0QF
ACCOUNTANTS
Independent Examiners Ltd Unit 2 Broadbridge Business Centre Delling Lane Bosham PO18 8NF
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MAY 2024
Organisational Structure
Directors: Dr Leticia Casanova and Dr David Holmes
Trustees: Dame Bridget Ogilvie, Dr David Holmes and Dr Leticia Casanova
Wider Networks : Kunal Thakker (CEO of Tooth Club) , Justin Leigh (Professional sales coach), Dr Kimberly MacGregor (committed volunteer), Angela Proud (Bookkeeper) Jules Roberts (Admin), Fiona Sturrok (PR)
Recruitment and appointment of new trustees
Volunteers are invited to become trustees.
Purposes
To advance in life and help young people by the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life.
Main activities in relation to purposes
The charity actively promotes the initiative of encouraging dental practices to donate gold and other precious waste metals. These materials are then collected, melted down, and the proceeds are donated to children's charities. This initiative not only raises funds for charitable causes benefiting young people but also fosters a sense of community engagement and social commitment among donors.
Principle source of funds
The collection of discarded precious dental restorations used in dentistry and old bits of jewellery from the patients as well as proceeds from charity fundraising in schools.
Policy on grant making
Please find the Grant Making Policy Document attached.
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who´s objectives are in line with the Gold For Kids objectives
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aiming to help children from 0-18 years old
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are a registered charity in the UK
Main Achievements
This year the charity is becoming professionalised with a new manager, Mark Topley who has extensive experience in the charity sector. We have continued to focused on growth and the results have proved the strategy is working even if slower than we would hope for, outsourcing the sales team to the new members of the team Justin Leigh (specialist sales coach) and Kunal Thakker (CEO of dental practice groupToothClub).
To date, there appears to be a gap in the market for an organisation to galvanise the Dental Sector behind a cause; alongside an untapped opportunity in donating precious restorations from teeth. Find attached “Gold For Kids a new fundraising initiative”. It is only early days, and Gold for Kids is becoming better known in the industry, earning the respect of dental groups such as Tooth Club and Astra Dent who have become donors. We now receive some donations from clinics we have now approached directly and they have read about us through out PR work on magazines or Social Media. You can read the news from our website: https://www.goldforkids.org/news/ . This year we have donated to another 6 charities who work with children: Dorset Children’s Foundation, Crackerjacks Children Trust, Be Lifted, Strong Bones, MACS, Leicester Children’s Holiday.
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31ST MAY 2024
Achievements set against objectives
To become known in the dental community and receive more donations. We have received approval of the NHS. We need to register more dental practices volunteers as well as register partners from the dental industry and use their resources to spread the word amongst clinics- this was our goal from last year, and today our sales process has been fully outsourced using the resources of the dental group Tooth Club.
Performance of fundraising activities against objectives set
We have continued to attend dental meetings in Birmingham and London where we have been able to spread the word and generate leads further as well as sign up more volunteers such as Justin Leigh professional sales coach) who we met at a stand during a Dental Show and is now fully committed to the project.
Financial Review
See attached accounts. Unfortunately, this year we spent more funds than we raised. Before outsourcing our sales, we spent £22,469 on salaries (PR and admin employee), web development, events, and exhibitions, as shown in the attached profit and loss sheet. As a result, our expenses were higher than the donations we received. However, despite these challenges, we still donated £12,500 this year—significantly more than last year. This has helped us understand our financial priorities better and reinforced the importance of outsourcing daily work to businesses with the right resources.
Reserves
Find attached the summary of expenses to date. We will add the amount raised through the third melt which we are waiting for and the amount we receive from gift aid.
Going Concern
The directors and trustees are confident that the charity has sufficient reserves and income streams to continue for the foreseeable future.
Risk Assessment
Trust is an important factor for dentists to become involved in the Gold For Kids project, hence becoming registered as a charity is important for the organization. As you can see in the SWAT analysis the biggest competitor is the scrap metal companies who offer immediate cash, or even perks as free lunch in exchange for the clinics scrap metal. Furthermore, being able to provide gift aid for cash donations from the Gold For Kids network is important for the progress of the organization. Right now we are making a PR effort to build trust through social media as a way of recruiting more supporters to the organisation.
Reserves Policy
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily. The general reserves policy is found in the Trustees Annual Report on page 5 to these financial statements.
Public Benefit
The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
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GOLD FOR KIDS IA COMPANY LIMITED BY GUARANTEE) REPORTOFTHE DIRECTORS FOR THE YEAR ENDED 31ST MAY 2024 Trusiee5Re5pothsibllilit5 TheCharitte5 Act and the Cwpanie5 Act require the Board dTrustee5to preparÈfinancial statements*or each financial year which 9we a true and fair of the state of affairs OF the charty as at the end of the financK41 year and of the surplus ordeficrt ofthe charTty. In preparin9 thosefinancial statementsthe Board is regured io." selectsuitable accounting pdicies and then applyihern consistently. ni8kejudgements and estimates that are re$(able3nd prudent, and prepathefinart¢lal stalements M the9n9 concern basis ur4ess it is inappropriatÈto presume that the charitywill continue in operation state whether applieable accountin9 standards and statements of recommendecl practice have beery folltyved. $ubjett to any material departures dis£ked and explained in thefinancial aterneTr1s. TheTTUStees are responsiblEfor mainiainin9 adequateaccounting Tecord5which disc105ewrth réasonable accuracyat anytimethe linancial Position of the charity and which are sufficient to show and explain thecharity'stransaclionsand enable ihem to ensure that the financial staternents COtDplywnh the Companies Act 2006 and compFywith regulations made underthe ChariiiesA¢t. They are also responsiblefor safeguarding the assets of the charFtyand hencefortaking reasonablestepsftrrthe prevention and detettion ¢rf fraijd and other itregularikies. The Trustees are also responsible lor the contents ol the Trustees, rOrt. and Ènsuring that. on face of th• rsp(Kt. thore are Do inconsistencies whtfi9ures disclosed Inthefinancial statements Thèseaccovnts have prepared in accordance with the prow5iOt15 aPpIable tocompanie5 5ubjecttoth• $mall comtsare$, Approved bvthè Directors on.. Sigred IX their behalf by.. Signature..
GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31ST MAY 2024
I report to the directors/trustees of Gold For Kids on my examination of the accounts of the Company for the year ended 31st May 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the charity’s trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act).
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe
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accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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the accounts do not accord with such records; or
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the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any
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requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
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Lomax Pavey Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF
26th February 2025
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MAY 2024
| Notes INCOME Donations and Legacies 2a Fundraising Activities 2b TOTAL INCOME EXPENDITURE Charitable Activities 3a TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2024 2023 £ £ £ £ 8,288 - 8,288 4,830 23,507 - 23,507 12,863 |
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| 31,795 - 31,795 17,693 |
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| 33,453 - 33,453 14,490 |
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| 33,453 - 33,453 14,490 |
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| (1,658) - (1,658) 3,203 10,775 - 10,775 7,572 |
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| 9,117 - 9,117 10,775 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as
The notes on pages 9 to 14 form part of these financial statements.
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GOLD FOR KIDS IA COMPANY LIMffED BY GUARANTEEI BALANCE SHEET AS AT 31ST MAY 2024 31-May-24 31.May-23 Totsl Total Note Flxed Assdk. Tanoible LE5ets CurrentAssot&' Debtor5 and Poi)a)ments Cash ai Bank and Il) Hand 10.967 10.967 Total ¢urrwi8ssets 10.967 10.967 11.465 Cr•ditor& amounts fallin9 due within oneyear 11,8501 11.8501 690; NEfcuRREKfASSETS 9,177 9.117 TOTAL ASSETS less current liabilities 9,117 9.117 10.77S CredrtOT£ amountsf411in9 due in rnoreihan on2year 9.117 9.117 10,775 Èneral funds Restricted Funds 9,117 9.177 10,775 T•tal And$ 9.117 9.117 10.775 Forthe year ending 31st May2024the companywas erTrtitled toexemption from audit undersection 477 of the Companies Act 2006 rdatirig tosmall COTnpanies. Dir•etsr< ft•sp•n%ibitits•s The members have not required thectsmpanyto obtain an audrft d its accounts forthe year in question in acc(Kdance wrth sectitr) 476. of the C4)mpaniesAct 2006. The clirectors acknowledgetheir responsibilitiesforcomptyin9 wiihthe quIreMentS oltheActv4ith respect to accwntin9 records and the preparation of accounts. These aCCOuiils hwe been prepaTed in act0rdat) ¥Yith the provisions applica619 io companies subject lo rhe sm611 conipaile5 reoim Prov bytr Dirertors Lm........... 76/ 02/25 sv4nodth0irbth0by......,........ rtur•:
GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024
1. Accounting Policies
a) Basis of preparation
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)).
Advantage has been taken of Section 396(5) of The Companies Act 2006 to allow the format of the financial statements to be adapted to reflect the special nature of the charity's operation and in order to comply with the requirements of the SORP.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.
Gold for Kids meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
The charity has opted to prepare its accounts using natural categories.
Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period
Material prior period errors and changes to previous accounts
No material prior period errors have been identified in this accounting period and there have been no changes to previous accounts.
Preparation of accounts on a going concern basis
Preparation of the accounts is on a going concern basis. The Trustees are of the view that the level of reserves will support the charity going forward.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting
b) Income
Income is included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the income;
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
c) Interest receivable
Interest on funds held on deposit is included when receipt is probable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
d) Grants and Donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
e) Tax Reclaims on Donations and Gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is allocated to general funds at the discretion of the Board of Trustees.
f) Government Grants
The charity has not received government grants in the reporting period.
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024
g) Fund accounting
Unrestricted funds are available to spend on activities that further any purposes of the charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
h) Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
i) Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or
j) Tangible fixed assets
The charity does not currently hold any fixed assets.
k) Operating leases
Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.
l) Taxation
The charity is exempt from tax on its charitable activities.
m) Legal status of the charity
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member of the charity.
n) Pension costs and other post retirement benefits
The charity does not operate a pension scheme.
o) Redundancy payments
The charity made no redundancy payments during the period.
p) Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be
q) Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2024
| 2. INCOME Note a) Donations and Legacies Donations Gift Aid b) Fundraising Activities Melt Proceeds 3. EXPENDITURE a) Charitable Activities Cost of Goods Sold Direct Expenses Marketing Costs Charity Co-ordinator Design and Print Events and Exhibitions Website Design and Updates Website Hosting Accountancy Fees Bank Charges Charitable Donations Postage and Packaging General Expenses Memberships & Subscriptions Insurance Grants to Organisations Legal Fees Telephone and Internet PR and Social Media Accountant Services Independent Examination Fee |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2024 2023 £ £ £ £ 5,095 - 5,095 4,830 3,194 - 3,194 - |
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| 8,288 - 8,288 4,830 |
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| 23,507 - 23,507 12,863 |
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| 23,507 - 23,507 12,863 |
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| Unrestricted Restricted TOTAL TOTAL Funds Funds 2024 2023 £ £ £ £ 18 - 18 - 260 - 260 - 41 - 41 141 10,277 - 10,277 - 761 - 761 - 1,200 - 1,200 - 296 - 296 318 546 - 546 - 324 - 324 - 60 - 60 61 - - - 216 235 - 235 - 173 - 173 - 210 - 210 85 423 - 423 - 12,500 - 12,500 7,000 13 - 13 - 6 - 6 - 5,390 - 5,390 5,691 - - - 288 720 - 720 690 |
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| 33,453 - 33,453 14,490 |
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2024
4. ANALYSIS OF GRANTS PAID
| Grants to Organizations TLG (Transforming Lives for Good Punk Against Poverty Barnados NSPCC Centrepoint |
Total Total 2023 2022 £ £ - 7,000 6,500 - 2,000 - 2,000 - 2,000 - |
|---|---|
| 12,500 7,000 |
5. TANGIBLE FIXED ASSETS
The charity did not hold any fixed assets during this or the previous financial year.
6. DEBTORS AND PREPAYMENTS
The charity did not have any debtors or prepayments at the end of this or the previous financial year.
7. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN
ONE YEAR
| Printing Costs Accountancy Fees Consultancy & Professional Fees |
Unrestricted Restricted Total Total Fund Fund 31-May-24 31-May-23 £ £ £ £ 90 - 90 - 720 - 720 690 1,040 - 1,040 - |
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| 1,850 - 1,850 690 |
8. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The charity did not have any creditors or accruals falling due in more than one year at the end of this or the previous financial year.
9. RESTRICTED FUNDS
The charitable company did not hold any restricted funds during this or the previous financial year.
10. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL
The charity did not have any employees during this or the previous financial period.
Therefore, no employees received emoluments in excess of £60,000 (2023: nil)
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GOLD FOR KIDS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2024
11. TRUSTEES AND OTHER RELATED PARTIES
No payments were made to Trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a Trustee or any person connected with them.
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