18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 JANUARY 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Note Income from: Donations and legacies 287.592 5.100 292.692 Total income 287,592 5,100 292,692 Expenditure on: Charitable activities 255,652 2,206 257,858 Total expendlture 255,652 2,206 257,858 Net movement in funds 31,940 2,894 34,834 Reconciliation of funds: Nel movement in funds 31,940 2,894 34,834 Total funds carried forward 31,940 2,894 34,834 The Statement of Financial.4clivilies includes all gains and losses recognised In the period. The notes on pages 8 10 14 form part of these financial slatemenls. Page 6
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST BALANCE SHEET AS AT 31 JANUARY 2023 2023 Note Fixed assets Current assets Debtors Cash al bank and in hand 1.000 36,034 37,034 Creditors.. amounts falling dije within one year 12.2001 Net current assets 34,834 Total assets less current liabilities 34,834 Totsl net assets 34,834 Charlty funds Reslricled funds Unrestricted funds 10 31,940 2,894 10 Total funds 34,834 The financial stalemenls were approved and aulhorised for issue by the Trustee and signed on their behalf by". on The notes on pages 8 10 14 form part of these financial staternenls. Page 7
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 Ggnoral information Friends of Birmingham Children's Trust is a charity registered on the 29th November 2021 as a CIO- Association. The registered office is the Birmingham Children's Trust, 1 Lancaster Circus Queensway, Birmingham, 84 7DJ. Its principal activities are lo advance In life and relieve the needs of children and young people who are looked after, In care or are care leavers. Accounting policios 2.1 Basis of preparation of financial statements The financial stÉilements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing their ciccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic 01." Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial st<ilements have been prepared to give a 'true and fair, view and have departed from the Charities IAI:counts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 r<lther than the Accounting and Reporting by Charibes.. Statement of Recommended Pracb'ce effectivi: from 1 April 2005 which has since been withdrawn. Friends of Birmiiigham Children's Trust meets the definition of a public benefit enb'ty under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the rele,vant accounb'ng policy. 2.2 Income All income is rÉicognised once the Charity has entillemenl to the income, il is probable that the income will be rÉiceived and the amount of income receivable can be measured reliably. The cOgnItion of income from legacies is dependent on establishing entitlement, the probabilrty of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entiuement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death Df the benefaclorl and the executor is sati<,fied that the property in question will not be required to satisfy claims in the estate. Receipt of a legiacy musl be recognised when it is probable that it will be received and the fair value of the amount rtJceivable. which will generally be the expected cash amount lo be distributed to the Charity, can be reliably measured. 2.3 Expenditure Expenditure is rÉJcognised once there is a legal or conslruclive obligation to transfer economic benefit to 8 third paty, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. <'hared costs which contribute to more than one activity and support costs which are not attributable l• antjiijtii JnnnrjlnnoA tIllItAE nn nnn£jotnI tAijth the use of resoLirces. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Page 8
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 Accounting policies Icontinuedl 2.3 Expenditure {continued) Expenditure on charitable activities Is incurred on direcdy undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Debtors Trade and other debtors are recognised al the se+tlemant amount after any trade discoun+ offered. Prepayments arij valued al the amount prepaid net of any trade discounts due. 2.5 Cash at bank aiid in hand Cash at bank and in hand includes Gash and short-term highly liquid Investments with a short maturity of three months or less from the date of acquisition or opening of the dep051t or similar accounL 2.6 Liabilities and ijrovisions Liabilities are rei=ognised when there is an obligation al the BalanTr sheet dale as a result of a past event, it is prob¢ible that a transfer of economic benefit will be required in settlement. and the amount of the settlemen." can be estimated reliably. Liabilities are rei:ognised at the amount that the Charity anlicipales it will pay to settle the debt or the amount it has re*ived as advanced payments for the goods or services It must provide. Provisions are rrieasured at the best estimate of the amounts required lo setue the obligation. Where the effect of the lime value of money Is material. the provision is based on the present value of those amounts, discolinled at the pre-tsx discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finan cost. 2.7 Financial instruments The Charity onls, has financial assets and financial liabilities of 8 kind that qualify as basic financial instruments. Ba%%)IG financial instruments are initially reGognised at transaction value and subsequently measured al their settlement value with the exception of bank 108ns which are subsequently measured al amortised Gosl using the effective interest method. 2.8 Fund accountirig General funds are unreslricled funds which are available for use at the disorelion of the Trustee in furtherance of Ilie general obieclives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in aGGordanTr with specific reslriclions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund Is set out In the notes lo the financial slalements. Page 9
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 Income from donations andlogacies Restricted Unrgstrictod funds funds 2023 2023 Total funds 2023 Donations Donations in kind 31,940 255,652 5,100 37.040 255.652 287,592 5,100 292,692 Analysis of expendi'ture on charitable activities Summary by fund tj'pe Restricted Unrestricted funds funds 2023 2023 Total 2023 Charitsble activities 255,652 2.206 257,858 Analysis of expendi'ture by activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Charitable activities 255,652 2,206 257,858 Page 10
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 Analysis of expendituro by activitigs Icontinuedl Analysis of support costs Total funds 2023 Activities 2023 Bank charges Accountancy fees Legal fees 1,200 1,000 1,200 1,000 2.206 2,206 Independent examirierfs remuneration The independent ex<iminerfs remuneration amounts to an independent examiner fee of £1,20012021 Trustee's remunera1.'ion and expenses During the period, no Trustees received any remuneration or other benefits. During the period ended 31 January 2023, no Trustee expenses have been incurred. Page11
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 Debtors 2023 Due within one year Trade debtors 1.000 1.000 Creditors- Amounts falling due within one year 2023 other creditors Accruals and deferreij income 1,000 1,200 2,200 Page 12
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 10. ststgmgnt offunds ststgmgnt of funds - current Pgriod Balance at 31 January 2023 Income Expenditure Unrestrlcted funds General Funds 5.100 12,206} 2.894 Restricted funds Christmas day dinner Young people Winter programmes Coats for young peoF,le Website 2,608 7,600 232,632 500 10,612 13,500 6,240 13,900 2,608 7,600 21,232 500 1211.400} 110,6121 113,5001 6.2401 113,9001 Farms for City Childri:n Future you Staff celebration everil 287,592 255,6521 31,940 Total of funds 292,692 1257.858} 34,834 11. Summary of funds Summary of funds- current period Balance at 31 January 2023 Income Expenditure General funds 5,100 287,592 12.206) 1255.652} 2,894 31,940 Reslricled funds 292,692 1257,8581 34,834 Page 13
18 draft roduced on 191512023 11..0 FRIENDS OF BIRMINGHAM CHILDREN'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2023 12. Analysis of net assots between funds Analysis of net assots between funds - current poriod Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Current assets Creditors due within one year 31,940 5,094 12,2001 37.034 12.2001 Total 31,940 2,894 34,834 13. Rolated party translictions There is a balance dLie to Birmingham Children's Trust of £1,000 Page 14