**Charity Registration No. 1191936** **Company Registration No. 12128205 (England and Wales)** **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022** ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** ## **Trustees** Mr W Weissman Mr S Schwarcz Mr A Z Rosenthal Mrs B Elkouby Mr C Steinhart (Appointed 26 November 2022) **Charity number** 1191936 **Company number** 12128205 **Registered office** 20 Elm Park Avenue London England N15 6AT ## **Independent examiner** Mr J Silver FCCA Precision Ltd 32 Castlewood Road London N16 6DW ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 13| ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 JULY 2022**_ The trustees present their report and financial statements for the year ended 31 July 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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 2019 ). ## **Objectives and activities** The charity's objects are to help young people advance in life. The charity achieves its object through: (A) The provision of recreational and leisure time activities provided in the interest of social welfare , designed to improve their conditions of life. (B) P roviding support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. Ther e has been no change in these during the year. The trustees have paid due regard to the guidance issued by the Charity Commission contained in the Charity Commission's general guidance on public benefit in deciding what activities the charity should undertake. ## **Achievements and performance** In the period under review the charity generated income of £ 298,624 and incurred expenses of £349,212 resulting in net outgoing resources of £50,588 . ## **Financial review** It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to approximately three month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The trustees acknowledge that the charity was not able to meet the above target this year and have increased their fundraising efforts post year end to resolve the situation. The unrestricted reserves as at the year end were £20,766 in defecit this has been funded by the bounce back loan the charity received, however the trustees have increased their fundraising efforts to cover the shortfall. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 29 July 2019 as amended on 17 January 2023 . It was incorporated on 29 July 2019 as a company and registered as a charity on 22 October 2020. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr Y Domb (Resigned 29 November 2022) Mr W Weissman Mr S Schwarcz Mr A Z Rosenthal Mrs B Elkouby Mr C Steinhart (Appointed 26 November 2022) - 1 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures. The trustees administer the day to day running of the charity . None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees' r eport was approved by the Board of Trustees. .............................. **Mr C Steinhart** Trustee Dated: ......................... - 2 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** I report to the trustees on my examination of the financial statements of AMAZING KIDS CLUB LTD (North London Hill Club Ltd) (the charity) for the year ended 31 July 2022. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ACCA, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 financial statements to be reached. **FCCA Mr J Silver FCCA Precision Ltd 32 Castlewood Road London N16 6DW** Dated: ......................... - 3 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 JULY 2022**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
256,303
20,500
Charitable activities
**4**
18,500
-
Investments
**5**
3,321
-
**Total income**
278,124
20,500
**Expenditure on:**
Raising funds
**6**
14,819
-
Charitable activities
**7**
315,976
18,417
**Total resources expended**
330,795
18,417
**Net (outgoing)/incoming**
**resources before transfers**
(52,671)
2,083
Gross transfers
between funds
830
(830)
**Net (expenditure)/income**
**for the year/**
**Net movement in funds**
(51,841)
1,253
Fund balances at 1 August
2021
31,075
13,070
**Fund balances at 31 July**
**2022**
(20,766)
14,323|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
276,803
224,193
18,690
18,500
-
-
3,321
2,866
-
298,624
227,059
18,690
14,819
7,853
-
334,393
200,221
5,620
349,212
208,074
5,620
(50,588)
18,985
13,070
-
-
-
(50,588)
18,985
13,070
44,145
12,090
-
(6,443)
31,075
13,070|**Total**
**2021**
**£**
242,883
-
2,866
245,749
7,853
205,841
213,694
32,055
-
32,055
12,090
44,145| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 4 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **BALANCE SHEET** ## _**AS AT 31 JULY 2022**_ |**2022**
**Notes**
**£**
**£**
**Fixed assets**
Tangible assets
**12**
6,690
**Current assets**
Debtors
**13**
9,247
Cash at bank and in hand
26,316
35,563
**Creditors: amounts falling due within**
**one year**
**15**
(10,677)
Net current assets
24,886
**Total assets less current liabilities**
31,576
**Creditors: amounts falling due after**
**more than one year**
**16**
(38,019)
**Net (liabilities)/assets**
(6,443)
**Income funds**
Restricted funds
14,323
Unrestricted funds
(20,766)
(6,443)|**2021**
**£**
**£**
2,000
82,866
9,636
92,502
(6,190)
86,312
88,312
(44,167)
44,145
13,070
31,075
44,145| |---|---| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2022. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ......................... .............................. Mr C Steinhart **Trustee** ## **Company Registration No. 12128205** - 5 - **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **1 Accounting policies** ## **Charity information** AMAZING KIDS CLUB LTD (North London Hill Club Ltd) is a private company limited by guarantee incorporated in England and Wales. The registered office is 20 Elm Park Avenue, London, N15 6AT, England. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future , due to the continued support from the community . Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **1 Accounting policies** ## **(Continued)** Government grants are recognised under the accrual model. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants which becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. ## **1.5 Expenditure** 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: - expenditure on raising funds includes the costs of all fundraising activities, events and noncharitable trading activities. - 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. - 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. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 20% RBM Computers 20% RBM The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities . ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 7 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Critical accounting estimates and judgements** The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported. - 8 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
420
-
Grants
16,543
20,500
Membership fees
239,340
-
256,303
20,500|**Total**Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
420
-
-
37,043
14,908
18,690
239,340
209,285
-
276,803
224,193
18,690|Total
2021
£
-
33,598
209,285
242,883| |---|---|---| ## **4 Charitable activities** Ancillary trading income - Educational booklets |**Charitable**|**2021**| |---|---| |**Income**|| |**2022**|| |**£**|**£**| |18,500|-| ## **5 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2022**|2021| ||**£**|£| |Interest receivable|3,321|2,866| - 9 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **6 Raising funds** |**Unrestricted**
**funds**
**2022**
**£**
Fundraising and publicity
Seeking donations, grants and legacies
10,650
Advertising
3,098
Interest payable
1,071
Fundraising and publicity
14,819
14,819|Total
2021
£
4,815
1,696
1,342
7,853
7,853| |---|---| ## **7 Charitable activities** ||**Charitable**|
**Charitable**| |---|---|---| ||**Expenditure**|
**Expenditure**| ||**2022**|
**2021**| ||**£**|
**£**| |Staff costs|19,348|
17,911| |Depreciation and impairment|1,673|
500| |Club activities|276,814|
170,948| ||297,835|
189,359| |Grant funding of activities (see note 8)|33,400|
12,500| |Share of governance costs (see note 9)|3,158|
3,982| ||334,393|
205,841| |**Analysis by fund**||| |Unrestricted funds|315,976|
200,221| |Restricted funds|18,417|
5,620| ||334,393|
205,841| |**For the year ended 31 July 2021**||| |Unrestricted funds|200,221|| |Restricted funds|5,620|| ||205,841|| - 10 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **8 Grants payable** ||**Charitable**|Charitable| |---|---|---| ||**Expenditure**|Expenditure| ||**2022**|2021| ||**£**|£| |Grants to institutions:||| |Beis Rochel D'Satmar Charitable Trust|12,500|5,000| |Beis Aharon Trust|6,000|7,500| |Friends of Beis Chinuch Lebonos|5,000|-| |Friends of Beis Soroh Schneirer|5,000|-| |Other|4,900|-| ||33,400|12,500| - ## **9 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
1,800
Legal and professional
-
1,268
Bank fees
-
90
-
3,158
Analysed between
Charitable activities
-
3,158|**2022**
Support
costs
Governance
costs
**£**
£
£
1,800
-
1,200
1,268
-
2,752
90
-
30
3,158
-
3,982
3,158
-
3,982|2021
£
1,200
2,752
30
3,982
3,982| |---|---|---| ## **10 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **11 Employees** The average monthly number of employees during the year was: **2022 2021 Number Number** - 2 - 11 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 JULY 2022**_ |**11**|**Employees**||**(Continued)**| |---|---|---|---| ||**Employment costs**|**2022**|**2021**| |||**£**|**£**| ||Wages and salaries|19,348|17,911| There were no employees whose annual remuneration was more than £60,000. |**12**
**Tangible fixed assets**
**Fixtures and**
**fittings**
**Computers**
**£**
**£**
**Cost**
At 1 August 2021
-
2,500
Additions
110
6,253
At 31 July 2022
110
8,753
**Depreciation and impairment**
At 1 August 2021
-
500
Depreciation charged in the year
22
1,651
At 31 July 2022
22
2,151
**Carrying amount**
At 31 July 2022
88
6,602
At 31 July 2021
-
2,000
**13**
**Debtors**
**2022**
**Amounts falling due within one year:**
**£**
Other debtors
9,247
**14**
**Loans and overdrafts**
**2022**
**£**
Bank loans
43,519
Payable within one year
5,500
Payable after one year
38,019|**Total**
**£**
2,500
6,363
8,863
500
1,673
2,173
6,690
2,000
**2021**
**£**
82,866
**2021**
**£**
49,167
5,000
44,167| |---|---| - 12 - ## **AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2022**_ ## **14 Loans and overdrafts** ## **(Continued)** The above long-term loan is guaranteed by the government under the Bounce back loan scheme. The loan accrues interest at 2.5% p.a. ## **15 Creditors: amounts falling due within one year** ||||||**2022**|**2021**| |---|---|---|---|---|---|---| ||||**Notes**||**£**|**£**| |Bank loans||||**14**|5,500|5,000| |Other creditors|||||3,977|-| |Accruals and deferred|income||||1,200|1,190| ||||||10,677|6,190| |**Creditors: amounts falling due after more than one**|||**year**|||| ||||||**2022**|**2021**| ||||**Notes**||**£**|**£**| |Bank loans||||**14**|38,019|44,167| |**Analysis of net assets between funds**||||||| ||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total| ||**funds**|**funds**||funds|funds|| ||**2022**|**2022**|**2022**|2021|2021|2021| ||**£**|**£**|**£**|£|£|£| |Fund balances at 31||||||| |July 2022 are||||||| |represented by:||||||| |Tangible assets|6,690|-|6,690|2,000|-|2,000| |Current assets/||||||| |(liabilities)|10,563|14,323|24,886|73,242|13,070|86,312| |Long term liabilities|(38,019)|-|(38,019)|
(44,167)|-|(44,167)| ||(20,766)|14,323|(6,443)|
31,075|13,070|44,145| ## **16 Creditors: amounts falling due after more than one year** ## **17 Analysis of net assets between funds** ## **18 Related party transactions** There were no disclosable related party transactions during the year . - 13 -