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2023-07-31-accounts

Charity registration number 1191936

Company registration number 12128205 (England and Wales)

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

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 Auditor Glazers 843 Finchley Road NW11 8NA Bankers Santander 2 Triton Square Regent's Place, London NW1 3AN

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent auditor's report 4 - 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10 - 18

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2023

The trustees present their report and financial statements for the year ended 31 July 2023.

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) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

During the year the charity also provided grants to charitable institutions whose objectives are inline with the charity's above mentioned objectives.

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 operated two childrens clubs, in Stamford Hill and in Benfleet respectively.

During the year the charity generated income of £1,094,617 (2022: £298,624) and incurred expenses of £1,025,825 (2022: £349,212) resulting in net incoming resources of £68,792.

The increase in income and expenses was due to the additional club being managed in Benfleet.

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 consider 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 total reserves at the year end were £62,349 this includes £18,706 of restricted funds, leaving £43,643 of unrestricted funds.

The trustees have 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.

The charity has stopped operating the club in Benfleet and instead has focused its resources on running the childrens club in Stamford Hill.

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

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

Mr A Z Rosenthal Mrs B Elkouby Mr C Steinhart (Appointed 26 November 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 charity changed its name from North London Hill Club Ltd to Amazing Kids Club Ltd on the 17th January 2023.

Auditor

In accordance with the company's articles, a resolution proposing that Glazers be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

..............................

Mr C Steinhart Trustee Dated: .........................

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2023

The trustees, who are also the directors of AMAZING KIDS CLUB LTD (North London Hill Club Ltd) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

Opinion

We have audited the financial statements of AMAZING KIDS CLUB LTD (North London Hill Club Ltd) (the ‘charity’) for the year ended 31 July 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

2) Discussions among the engagement team regarding how and when fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Charities Act 2011 .

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity's ability to operate or avoid a material penalty.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

We note that our audit is not primarily designed to detect non-compliance with laws and regulations and the Trustees and other management are responsible for such internal control as the Trustees and other management of the Charity determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to errors or fraud, including compliance with laws and regulations. Additionally, owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Comparative information in the financial statements is derived from the company's prior period financial statements which did not require an audit.

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

.........................
Glazers
Chartered Accountants 843 Finchley Road
Statutory Auditor London

Glazers is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and
legacies
3
20,817
13,650
Charitable activities
4
1,060,150
-
Investments
5
-
-
Total income
1,080,967
13,650
Expenditure on:
Raising funds
6
6,951
-
Charitable activities
7
1,009,607
9,267
Total expenditure
1,016,558
9,267
Gross transfers
between funds
-
-
Net income/(expenditure)
for the year/
Net movement in funds
64,409
4,383
Fund balances at 1 August
2022
(20,766)
14,323
Fund balances at 31 July
2023
43,643
18,706		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
34,467
16,963
20,500
1,060,150
257,840
-
-
3,321
-
1,094,617
278,124
20,500
6,951
14,819
-
1,018,874
315,976
18,417
1,025,825
330,795
18,417
-
830
(830)
68,792
(51,841)
1,253
(6,443)
31,075
13,070
62,349
(20,766)
14,323		 Total
2022
£
37,463
257,840
3,321
298,624
14,819
334,393
349,212
-
(50,588)
44,145
(6,443)

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.

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

BALANCE SHEET

AS AT 31 JULY 2023

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets/(liabilities)
Income funds
Restricted funds
Unrestricted funds		 2023
£
85,030
15,057
100,087
(10,622)		 £
5,348
89,465
94,813
(32,464)
62,349
18,706
43,643
62,349		 2022
£
9,247
26,316
35,563
(10,677)		 £
6,690
24,886
31,576
(38,019)
(6,443)
14,323
(20,766)
(6,443)

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 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

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 under the requirements of the Companies Act 2006, 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 number 12128205

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
20
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
£
(5,704)
-
-
-
(5,555)
(5,555)
(11,259)
26,316
15,057		 2022
£
(6,363)
3,321
(5,648)		 £
25,370
(3,042)
(5,648)
16,680
9,636
26,316

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

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 financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts 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. 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.

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.

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

1 Accounting policies

(Continued)

1.5 Expenditure

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 25% 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.

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.

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

1 Accounting policies

(Continued)

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 payments 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.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
-
-
Grants
20,817
13,650
20,817
13,650		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
-
420
-
34,467
16,543
20,500
34,467
16,963
20,500		 Total
2022
£
420
37,043
37,463

4 Charitable activities

Charitable Charitable
Income Income
2023 2022
£ £
Childcare Fees and reimbursed costs 1,053,150 239,340
Ancillary trading income - Educational booklets 7,000 18,500
1,060,150 257,840

5 Investments

**Total ** Unrestricted
funds
2023 2022
£ £
Interest receivable - 3,321

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

6 Raising funds

Unrestricted
funds
2023
£
Fundraising and publicity
Seeking donations, grants and legacies
3,642
Advertising
2,284
Interest payable
1,025
Fundraising and publicity
6,951
6,951		 Total
2022
£
10,650
3,098
1,071
14,819
14,819
Charitable
Charitable
Expenditure Expenditure
2023 2022
£ £
Staff costs 103,682 19,348
Depreciation and impairment 1,342 1,673
Club activities 301,928 276,814
Premises and management costs 291,369 -
698,321 297,835
Grant funding of activities (see note 8) 293,046 33,400
Share of support costs (see note 9) 22,684 -
Share of governance costs (see note 9) 4,823 3,158
1,018,874 334,393
Analysis by fund
Unrestricted funds 1,009,607 315,976
Restricted funds 9,267 18,417
1,018,874 334,393
For the year ended 31 July 2022
Unrestricted funds 315,976
Restricted funds 18,417
334,393

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

8 Grants payable

Charitable
Charitable
Expenditure Expenditure
2023 2022
£ £
Grants to institutions:
Beis Rochel D'Satmar Charitable Trust - 12,500
Beis Aharon Trust 14,000 6,000
Friends of Beis Chinuch Lebonos 23,500 5,000
Friends of Beis Soroh Schneirer 22,000 5,000
JCOCI Educational Foundations Ltd 88,200 -
Friends of Mercaz Hatorah Belz Macnivka 5,000 -
CMZ Ltd 5,000 -
Correct Routes Limited 9,500 -
Ezer Viznitz Foundation 66,500 -
Talmud Torah D'chasidei Gur Ltd 11,000 -
Mesifta Talmudical College 7,375 -
Other 40,971 4,900
293,046 33,400

9 Support costs

Support costs
Office expenses
IT Expenditure
Professional Fees
Audit fees
Accountancy
Legal and professional
Bank fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
17,369
-
3,654
-
1,661
-
-
1,200
-
2,400
-
1,133
-
90
22,684
4,823
22,684
4,823		 2023
£
17,369
3,654
1,661
1,200
2,400
1,133
90
27,507
27,507		 2022
£
-
-
-
-
1,800
1,268
90
3,158
3,158

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

10 Trustees

During the year the charity paid wages of £12,201 to related parties.

The charity has taken appropriate steps to ensure that any potential conflicts of interest or loyalty have been managed appropriately.

11 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Other pension costs		 2023
Number
13
2023
£
103,518
164
103,682		 2022
Number
3
2022
£
19,348
-
19,348

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

13 Tangible fixed assets

Fixtures and
fittings
Computers
£
£
Cost
At 1 August 2022
110
8,753
At 31 July 2023
110
8,753
Depreciation and impairment
At 1 August 2022
22
2,151
Depreciation charged in the year
22
1,320
At 31 July 2023
44
3,471
Carrying amount
At 31 July 2023
66
5,282
At 31 July 2022
88
6,602		 Total
£
8,863
8,863
2,173
1,342
3,515
5,348
6,690

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

13
Tangible fixed assets
14
Debtors
Amounts falling due within one year:
Other debtors
15
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 (Continued)
2023
2022
£
£
85,030
9,247
2023
2022
£
£
37,964
43,519
5,500
5,500
32,464
38,019		 (Continued)
2023
2022
£
£
85,030
9,247
2023
2022
£
£
37,964
43,519
5,500
5,500
32,464
38,019
2022
£
43,519
5,500
38,019

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.

16 Creditors: amounts falling due within one year

Notes
Bank loans
15
Other taxation and social security
Other creditors
Accruals and deferred income
17
Creditors: amounts falling due after more than one year
Notes
Bank loans
15		 2023
£
5,500
(761)
3,483
2,400
10,622
2023
£
32,464		 2022
£
5,500
-
3,977
1,200
10,677
2022
£
38,019

AMAZING KIDS CLUB LTD (NORTH LONDON HILL CLUB LTD)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

18 Analysis of net assets between funds

Unrestricted Restricted Total Unrestricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Fund balances at 31
July 2023 are
represented by:
Tangible assets 5,348 - 5,348 6,690 - 6,690
Current assets/(liabilities) 70,759 18,706 89,465 10,563 14,323 24,886
Long term liabilities (32,464) - (32,464) (38,019) - (38,019)
43,643 18,706 62,349 (20,766) 14,323 (6,443)

19 Related party transactions

Other than the transactions disclosed above in Note 10 there were no disclosable related party transactions during the year (2022 - none).

20 Cash generated from operations 2023 2022
£ £
Surplus/(deficit) for the year 68,792 (50,588)
Adjustments for:
Investment income recognised in statement of financial activities - (3,321)
Depreciation and impairment of tangible fixed assets 1,342 1,673
Movements in working capital:
(Increase)/decrease in debtors (75,783) 73,619
(Decrease)/increase in creditors (55) 3,987
Cash (absorbed by)/generated from operations (5,704) 25,370
21 Analysis of changes in net (debt)/funds
At 1 August 2022 Cash flows At 31 July 2023
£ £ £
Cash at bank and in hand 26,316 (11,259) 15,057
Loans falling due within one year (5,500) - (5,500)
Loans falling due after more than one year (38,019) 5,555 (32,464)
(17,203) (5,704) (22,907)