Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
**Charity number: 1197173**
## **LEG-UP CHARITY FOR KIDS**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5 - 6|
|**Statement of financial activities**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 16|
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024**
**Trustees** Andrea Morrall, Chair Natalie Leon Natalie Abrahams **Charity registered number** 1197173 **Principal office** 1 Vincent Square London SW1P 2PN **Accountants** Wellers Accountants 1 Vincent Square London SW1P 2PN **Bankers** Coutts & Co 440 Strand London WC2R 0QS
Page 1
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees present their annual report together with the financial statements of the Leg-Up Charity for Kids ("the Charity" or "LUCK") for the 1 January 2024 to 31 December 2024.
## **Objectives and activities**
## **Policies and objectives**
The Charity operates to make grants and donations for such purposes as are charitable according to the laws of England and Wales for the following purposes:
- The advancement of education of students;
- Relief of those who are in need by reason of their youth, age, ill-health or disability, financial hardship or other disadvantage;
- To such other registered charities in furtherance of their charitable purposes.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **Achievements and performance**
## **Review of activities**
During the period under review, the Charity received donations amounting to £210,648 and it made donations amounting to £5,901.
The Trustees consider that the current low activity level of the charity is appropriate in its early years and believe it to be a good strategy for the reserves to have time to grow in order that the charity can make more substantial donations in future years.
## **Financial review**
## **Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **Reserves policy**
The Trustees will seek to build sustainable unrestricted reserves to a level that can provide financial stability and to ensure that the Charity holds sufficient working capital for ongoing grant commitments and to make more substantial donations in future periods.
Page 2
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Grant-making policies**
The Trustees receive recommendations to support an organisation from its main donor of funds. The Trustees will also consider recommendations to support an organisation from other third parties.
The number of grants and donations made for charitable purposes that can be granted by the Trustees is necessarily limited to the amount of funds that are available for distribution each year. The Trustees determined that the for the year ending 31 December 2024, priorities for funding were relief of those who are in need by reason of their financial hardship/disadvantage, the advancement of education of students and to other registered charities in furtherance of their charitable purposes.
All donations are made at the absolute discretion of the Trustees. The Trustees assess the potential impact and change that might result from a donation. The Trustees actively seek regular reports and updates on progress from the charities which are approved for grants and donations. The grants are given at arms-length, for use in on-going charitable activities of an organisation, and are generally requested to remain confidential.
The priorities for support are reviewed by the Trustees every year and may change depending upon circumstances and the perceived effectiveness of the application of funds.
## **Material investments policy**
The investment policy of the Charity is to achieve low volatility, absolute returns, whilst attempting to maintain the capital value. The investments held do not pay a dividend and therefore the only source of income would be on disposal.
## **Principal risks and uncertainties**
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
- There is a risk we will not attract sufficient philanthropic capital to continue to meet the Charity’s commitments. Mitigation: The Charity continually assesses its' level of reserves before committing to grants payable to ensure the Charity always has sufficient reserves to continue operations.
- There is a risk that the investments will not yield sufficient returns to fund the Charity’s commitments. Mitigation: The Trustees review the investments made by the Charity from time to time and would take appropriate steps in the event there were insufficient returns on the Charity’s investment portfolio.
## **Structure, governance and management**
## **Constitution**
Leg-Up Charity for Kids is a Charitable Incorporated Organisation, registered with the Charity Commission for England and Wales, registered charity number 1197173. It is governed by a Constitution dated 16 December 2021.
## **Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.
Page 3
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Structure, governance and management (continued)**
## **Key management and remuneration policy**
The Trustees are not remunerated and the Charity has no employees.
## **Plans for future periods**
The Trustees plan to continue building the Charity’s unrestricted reserves, enabling it to have the necessary reserves to support its charitable objectives.
## **Statement of Trustees' responsibilities**
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**Andrea Morrall** Chair of Trustees Date: 04-09-25
Page 4
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Independent examiner's report to the Trustees of Leg-Up Charity for Kids ('the Charity')**
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Page 5
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024**
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. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 04-09-25
Christina Nawrocki FCCA
## **Wellers**
Accountants 1 Vincent Square London SW1P 2PN
Page 6
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**Note**
**Income from**
Donations
3
**Total income**
**Expenditure on**
Charitable activities
5
**Total expenditure**
**Net income before net gains on investments**
Net gains on investments
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**210,648**
**210,648**
**9,370**
**9,370**
**201,278**
**48,374**
**249,652**
**199,967**
**249,652**
**449,619**|**Total**
**funds**
**2024**
**£**
**210,648**
**210,648**
**9,370**
**9,370**
**201,278**
**48,374**
**249,652**
**199,967**
**249,652**
**449,619**|_Total_
_funds_
_2023_
_£_
_105,243_
_105,243_|
|---|---|---|---|
||||_2,830_
_2,830_|
||||_102,413_
_32,373_
_134,786_|
||||_65,181_
_134,786_
_199,967_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
Page 7
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
|**Note**
**Fixed assets**
Investments
Debtors
10
Cash at bank and in hand
**Cash at bank and in hand**
**Current liabilities**
Creditors: amounts falling due within one
year
11
**Net current assets / liabilites**
**Total assets less current liabilities**
**Net assets**
**Total net assets**
**Charity funds**
Unrestricted funds
12
**Total funds**|**361**
**9,212**
**9,573**
**(2,970)**|**2024**
**£**
**443,016**
**443,016**
**6,603**
**449,619**
**449,619**
**449,619**
**449,619**
**449,619**|_-_
_5_
_5_
_(2,830)_|_2023_
_£_
_202,792_
_202,792_
_(2,825)_
_199,967_
_199,967_
_199,967_
_199,967_
_199,967_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**Andrea Morrall** Chair of Trustees Date: 04-09-25
The notes on pages 9 to 16 form part of these financial statements.
Page 8
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. General information**
Leg-Up Charity for Kids is a Charitable Incorporated Organisation, registered with the Charity Commission for England and Wales, registered charity number 1197173. It is governed by a Constitution dated 16 December 2021. The address of its main office is 221 Watling Street, Radlett, Hertfordshire, WD7 7AJ.
## **2. Accounting policies**
## **2.1 Basis of preparation and assessment of going concern**
The financial statements are prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the 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 (FRS102) (effective 1 January 2019) and the Charities Act 2011.
The Charitable is a public entity as defined by FRS 102.
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 have adopted the going concern basis for the preparation of the financial statements.
The Trustees are continuously monitoring the Charity’s investment portfolio and cost base for any adverse movements in value and costs and will act wherever necessary to protect the Charity’s interests should the period of uncertainty continue for longer than expected.
## **2.2 Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires the Trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the balance sheet date and the amounts reported as revenues and expenses for the same year. The nature of estimation means that actual outcomes might differ from these estimates.
No areas of judgement had any significant effect on the amounts recognised in the financial statements for the current year.
## **2.3 Income recognition**
Income is recognised when the Charity becomes entitled to it, or it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Donations are recognized when there is evidence of entitlement to the gift which is considered to be when economic benefit has passed to the Charity, receipt is probable, and the amount may be measured reliably. Donations are only recognised once all three criteria have been met by the Charity and that this requirement can be clearly demonstrated.
## **2.4 Foreign currency translations**
Transactions in foreign currency are initially recorded in the Charity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the statement of financial activity.
Page 9
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. Accounting policies (continued)**
## **2.5 Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
Charitable activities are an expenditure associated with the Charity's grants and donations to beneficiaries and both the direct costs and support costs related to these activities are included.
## **2.6 Fixed asset investments**
Investments are initially recognised at their transaction value and subsequently measured at fair value as of the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation throughout the period.
Investments held as fixed assets are shown at cost less provision for impairment.
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.9 Creditors and provisions**
Creditors and provisions are recognised where the Charity has a present obligation to for goods or services it has received from a third party and the amount it is legally required to pay, allowing for any discounts in price, can be measured or estimated reliably.
## **2.10 Financial instruments**
The Charity only has financial assets and financial liabilities that qualify as basic financial instruments, which are initially recognised at transaction value and subsequently measured at settlement value.
## **2.11 Unrestricted funds**
Monies and assets held by the Charity are unrestricted general funds, which can be used in accordance with its charitable objectives.
Page 10
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **3. Income from donations**
|**Unrestricted**
**funds**
**2024**
**£**
Donations
210,648
_Unrestricted_
_funds_
_2023_
_£_
Donations
_105,243_|**Total**
**funds**
**2024**
**£**
**210,648**|
|---|---|
||_Total_
_funds_
_2023_
_£_
_105,243_|
## **4. Analysis of grants**
||**Grants to**|**Total**|_Total_|
|---|---|---|---|
||**Individuals**|**funds**|_funds_|
||**2024**|**2024**|_2023_|
||**£**|**£**|_£_|
|Grants and donations|5,901|**5,901**|_-_|
Page 11
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **5. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2024**
**£**
Donations and support costs
9,370
_Unrestricted_
_funds_
_2023_
_£_
Donations and support costs
_2,830_|**Total**
**2024**
**£**
**9,370**|
|---|---|
||_Total_
_2023_
_£_
_2,830_|
Page 12
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure by activities**
|Donations and support costs
Donations and support costs|**Grant**
**funding of**
**activities**
**2024**
**£**
5,901|**Support**
**costs**
**2024**
**£**
3,469
_Support_
_costs_
_2023_
_£_
_2,830_|**Total**
**funds**
**2024**
**£**
**9,370**|
|---|---|---|---|
||||_Total_
_funds_
_2023_
_£_
_2,830_|
Page 13
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **6. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Travel
Governance costs
**Total 2024**
**7.**
**Independent examiner's remuneration**
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts|**Total**
**funds**
**2024**
**£**
**497**
**2,972**
**3,469**
**2024**
**£**
**2,972**|_Total_
_funds_
_2023_
_£_
_-_
_2,830_
_2,830_|
|---|---|---|
|||_2023_
_£_
_2,830_|
## **8. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ .
During the year ended 31 December 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ .
## **9. Fixed asset investments**
|**Cost or Valuation**
As at 1 January 2024
Additions
Disposals
Unrealised gains/(losses)
**Market Value as at 31 December 2024**|**2024**
**£**
**202,792**
**193,896**
**-**
**46,328**
**443,016**|_2023_
_£_
_76,569_
_93,850_
_-_
_32,373_
_202,792_|
|---|---|---|
Page 14
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **10. Debtors**
|**Due within one year**
Other debtors|**2024**
**£**
**361**
**361**|_2023_
_£_
_-_|
|---|---|---|
|||_-_|
## **11. Creditors: Amounts falling due within one year**
||**2024**|_2023_|
|---|---|---|
||**£**|_£_|
|Accruals|**2,970**|_2,830_|
## **12. Statement of funds**
## **Statement of funds - current year**
||||||**Balance at**|
|---|---|---|---|---|---|
||**Balance at 1**||||**31**|
||**January**|||**Gains/**|**December**|
||**2024**|**Income**|**Expenditure**|**(Losses)**|**2024**|
||**£**|**£**|**£**|**£**|**£**|
|**Unrestricted funds**||||||
|General Funds - all funds|**199,967**|**210,648**|**(9,370)**|**48,374**|**449,619**|
|||||||
|**Statement of funds - prior**|**year**|||||
||||||_Balance at_|
||_Balance at_||||_31_|
||_1 January_|||_Gains/_|_December_|
||_2023_|_Income_|_Expenditure_|_(Losses)_|_2023_|
||_£_|_£_|_£_|_£_|_£_|
|**Unrestricted funds**||||||
|General Funds - all funds|_65,181_|_105,243_|_(2,830)_|_32,373_|_199,967_|
Page 15
Docusign Envelope ID: 943D86A2-DDA3-4735-A4D9-05779900839C
## **LEG-UP CHARITY FOR KIDS**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **13. Analysis of net assets between funds**
|**Unrestricted**
**funds**
**2024**
**£**
Fixed asset investments
443,016
Current assets
9,573
Creditors due within one year
(2,970)
**Total**
449,619|**Total**
**funds**
**2024**
**£**
**443,016**
**9,573**
**(2,970)**
**449,619**|
|---|---|
## **14. Related party transactions**
The Leg-Up Charity for Kids has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Leg-Up Charity for Kids at 31 December 2024.
Page 16