KIND HEARTS CIO
Registered Charity Number: 1199356
TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS (ACCRUALS BASIS)
For the Year Ended 31 May 2025
SECTION A: REFERENCE AND ADMINISTRATIVE DETAILS
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Charity Name: Kind Hearts CIO
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Charity Registration Number: 1199356
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Registered O�ice: 34 Warren Street, London, W1T 5NH, England
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Trustees:
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Andrey Kuvshinov
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Ksenia Benevalenskaya
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Shaurya Dev
SECTION B: STRUCTURE, GOVERNANCE AND MANAGEMENT
Kind Hearts is a registered Charitable Incorporated Organisation (CIO) regulated by the Charity Commission for England and Wales under charity number 1199356. The board of Trustees manages the charity under the terms of its constitution. The Trustees assess operational and financial risks regularly and maintain systems to mitigate these risks.
SECTION C: OBJECTIVES AND ACTIVITIES
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Charitable Objects: The primary object of the charity is to provide grants, donations, and direct aid for charitable purposes for the public benefit. All activities follow the legal framework of England and Wales and adhere to guidance issued by the Charity Commission.
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under Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
SECTION D: ACHIEVEMENTS AND PERFORMANCE
During the reporting period ending 31 May 2025, the Trustees focused on strategic planning and expanding the international scope of the charity. In April 2025, a Trustee conducted an o�icial field visit to Senegal to assess community needs first-hand. This field visit provided essential insights to ensure future grant-making and charitable activities deliver direct public benefit.
Travel expenses incurred for the Senegal visit totalled £1,195.79. These were paid out-of-pocket by the Trustee, were not reimbursed prior to 31 May 2025, and are recorded as a financial liability (Creditor) of the charity.
SECTION E: FINANCIAL REVIEW & FUTURE PLANS
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Financial Review: Total Income was £0.00 (2024: £5,700 accrued). Total Expenditure was £2,042.19, leaving a net deficit of £2,042.19.
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Cash at Bank: The charity held £6,742.60 across its bank accounts as at 31 May 2025, matching physical bank holdings. Total net assets after accounting for the £1,195.79 creditor stand at £5,546.81. The Trustees confirm that the charity holds su�icient funds to manage its current commitments.
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Reserves Policy: Unrestricted funds are held to cover operational expenses and charitable activities as needed. As at 31 May 2025, unrestricted reserves stand at £5,546.81.
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Plans for the Future: The Trustees plan to expand the geographic scope of the organisation's charitable activities in Senegal, Ivory Coast, Ethiopia, and India. Findings from the April 2025 Senegal visit will form the basis for initial funding partnerships in West Africa.
STATEMENT OF FINANCIAL ACTIVITIES (INCOME STATEMENT)
FOR THE YEAR ENDED 31 MAY 2025
| Income and Expenditure | Note | 2025 (Unrestricted) (£) |
2024 (Unrestricted) (£) |
|---|---|---|---|
| INCOME | |||
| Donations and Legacies | 0.00 | 5,700.00 | |
| Total Income | 0.00 | 5,700.00 | |
| EXPENDITURE | |||
| Charitable Activities (Senegal Travel) |
1,195.79 | 0.00 | |
| Depreciation & Asset Write-o� | 2 | 986.00 | 987.00 |
| Release of Prior Liabilities / Rounding |
3 | (139.60) | 0.00 |
| Income and Expenditure | Note | 2025 (Unrestricted) (£) |
2024 (Unrestricted) (£) |
|---|---|---|---|
| Other Charitable Expenses (IT / Admin) |
0.00 | 51,092.00 | |
| Total Expenditure | 2,042.19 | 52,079.00 | |
| Net Movement in Funds | (2,042.19) | (46,379.00) | |
| Total Funds brought forward (1 June) |
7,589.00 | 53,968.00 | |
| Total Funds carried forward (31 May) |
5,546.81 | 7,589.00 |
BALANCE SHEET
AS AT 31 MAY 2025
| AS AT 31 MAY 2025 | |||
|---|---|---|---|
| Position | Note | 31 May 2025 (£) |
31 May 2024 (£) |
| FIXED ASSETS | |||
| Tangible Fixed Assets (Computer Equipment) |
2 | 0.00 | 986.00 |
| Total Fixed Assets | 0.00 | 986.00 | |
| CURRENT ASSETS | |||
| Debtors (Accrued Income) | 0.00 | 0.00 | |
| Cash at Bank and In Hand | 6,742.60 | 6,648.00 |
| Position | Note | 31 May 2025 (£) |
31 May 2024 (£) |
|---|---|---|---|
| Total Current Assets | 6,742.60 | 6,648.00 | |
| LIABILITIES | |||
| Creditor: Unreimbursed Trustee Travel Expenses |
3 | (1,195.79) | 0.00 |
| Accrued IT & Other Creditors | 3 | 0.00 | (45.00) |
| Total Liabilities | (1,195.79) | (45.00) | |
| NET CURRENT ASSETS | 5,546.81 | 6,603.00 | |
| TOTAL NET ASSETS | 5,546.81 | 7,589.00 | |
| CHARITY FUNDS | |||
| Unrestricted Funds | 5,546.81 | 7,589.00 |
NOTES TO THE ACCOUNTS
Note 1: Accounting Policies & Basis of Preparation
Charities SORP (FRS 102), applicable UK accounting standards, and the Charities Act 2011. Income and expenses are recognised when the charity becomes entitled to or incurs the liability.
Note 2: Tangible Fixed Assets and Depreciation
Computer equipment was purchased in 2022–2023 for £2,960.00. Depreciation has been charged on a 33% straight-line basis (£987.00 in 2024). For the period ending 31 May 2025, the final remaining value of £986.00 has been written o�. The net book value as of 31 May 2025 is £0.00.
Note 3: Creditors and Released Liabilities
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Trustee Expenses: Out-of-pocket travel expenses of £1,195.79 were incurred by a Trustee in April 2025 for a research visit to Senegal. These remain unpaid as at 31 May 2025 and are recorded as a short-term creditor.
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Release of Prior Liabilities: Historic accrued liabilities totalling £139.60 were formally released in the period, as all operational accounts and historical liabilities were settled in full.
The charity had no paid employees during the period ended 31 May 2025 (2024: nil). No sta� costs or employee benefits were incurred.
Note 5: Trustee Remuneration and Related Party Transactions
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the year (2024: £nil).
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One Trustee incurred out-of-pocket travel expenses of £1,195.79 in direct furtherance of the charity's objects, which remained outstanding as a creditor at 31 May 2025. No other Trustee expenses were paid or reimbursed.
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There were no other related party transactions during the reporting period (2024: nil).
Note 6: Independent Examination Exemption
income was below the £25,000 threshold, under Section 144(2) of the Charities Act 2011, the charity is exempt from the statutory requirement for an Independent Examination or Audit.
DECLARATION
and signed on its behalf by:
Andrey Kuvshinov
Andrey Kuvshinov
Trustee
Date: 31 July 2026