Registered number: 02447072 Charity number: 328680
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 14 |
GIVE A CHILD A BRIGHTER FUTURE LIMITED (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021
Trustees Mrs L Kalo Mrs R Connelly Company number 02447072 Charity number 328680 Registered office 64 New Cavendish Street London W1G 8TB Secretary S G Aweida Independent Examiner Neville J Newman FCA Harris & Trotter LLP Chartered Accountants 64 New Cavendish Street London W1G 8TB Bankers Banque Banorient France 195 Brompton Road London SW3 1LZ
Page 1
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their annual report together with the financial statements of the Give a Child a Brighter Future Limited for the 1 January 2021 to 31 December 2021. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
The company continued to rely on donations from various supporters, including institutions. Its only other income is bank interest. It is entirely run by unpaid volunteers. The directors donate the company's funds to organisations whose work is consistent with the company's principal objectives. These organisations include hospitals and other charities. The charity invites applications for funding of projects through various sources. The applications are reviewed by the trustees who ensure that they are in accordance with the charity's objectives.
Fundraising activities and income generation
Give a Child a Brighter Future Limited benefits from a large circle of generous benefactors, sponsors and friends who, year after year, support its many worthy projects. The charity was able to hold their annual event that was a huge success.
Financial review
During the year under review, the Charity's income was £276,532 (2020: £16,675). The trustees are grateful to all donors for their contribution received during the year and their continued support in the future.
The charity continued to provide financial support to organisations working in the Lebanon to help sick, disabled, poor, homeless or needy children. The total amount donated during the year was £128,371 (2020: £80,131).
The trustees wish to continue using the charity's resources in this way. However, the charity has no ongoing expenditure, and at 31 December 2021 there were no incomplete projects or future obligations.
Page 2
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
a. Reserves policy
The Charity's cash reserves at the balance sheet date were £377,889 (2020: £267,934). The level of reserves is considered appropriate given the nature of the income. It will allow continued financial support to organisations working in the Lebanon in the short term and this will allow other forms of fund-raising to be considered.
In accordance with the Memorandum and Articles of Association the trustees have the power to invest in such assets as they see fit. The Foundation has a policy of keeping surplus liquid funds in short term deposits. This low risk investment policy provides the flexibility in making charitable grants and ensures the Foundation had adequate funds to meet ongoing grant commitments and administration costs in accordance with its reserves policy.
b. Reserves policy
The Trustees have adopted a policy that, where possible, a general fund cash reserve will be maintained. Cash reserves for this year amounts to £377,889 which adequately covers the Charity's reserves policy criteria and provides a cushion for seasonal cash flow fluctuations that impact the organisation from time to time.
c. Investmenent policy
In accordance with the Memorandum and Articles of Association, the Trustees have the power to invest in such assets as they see fit. The Charity has a policy of keeping surplus liquid funds in short term deposits. This low risk investment policy provides the flexibility in making charitable grants and ensures the Charity has adequate funds to meet ongoing project commitments and administration costs in accordance with its reserves policy.
Structure, governance and management
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum and Articles of Association on the 28th November 1989.
The company is constituted under a Memorandum of Association dated 28 November 1989 and is a registered charity number 328680
The principal object of the company is to provide relief to people who are suffering from poverty or sickness in the Lebanon by providing financial and other assistance, including assistance with education. The company is particularly concerned to provide relief to children.
The management committee, who are also directors for the purposes of company law, and who served during the year were: Mrs L Kalo Mrs R Connelly
None of the management committee has any beneficial interest in the company. All of the management committee are members of the company and guarantee to contribute £1 in the event of a winding up.
Page 3
GIVE A CHILD A BRIGHTER FUTURE LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Policies adopted for the induction and training of Trustees
Existing trustees brief new trustees on the charity's aim and objectives. They are given a copy of the Memorandum and Articles of Association along with the latest financial statements. They are also given literature about the charity and directed towards the charity's website. They are also sent a copy of the charity commission's guidelines for Trustees which will help them to fulfil their role in line with charity and company law.
The company has no political or religious affiliations.
d. Financial risk management
The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
The Charity will continue to support charitable organisations who are in desperate need for funds in order to provide relief to people suffering from poverty or sickness in Lebanon
Page 4
GIVE A CHILD A BRIGHTER FUTURE LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Company for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company 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 on 28 September 2022 and signed on their behalf by:
................................................
Mrs L Kalo
Page 5
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
Independent Examiner's Report to the Trustees of Give a Child a Brighter Future Limited ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the Year ended 31 December 2021.
Responsibilities and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Company'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 ICAEW, 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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 accounts to be reached.
Neville J Newman FCA
c/o Harris & Trotter LLP Chartered accountants 64 New Cavendish Street London W1G 8TB Date: 28 September 2022
Page 6
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2021
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Raising funds Charitable activities: Grants payable Other charitable activities Total expenditure Net income/(expenditure) 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 2021 £ 276,253 279 276,532 39,357 128,371 4,290 172,018 104,514 31 104,545 270,905 104,545 375,450 |
Total funds 2021 £ 276,253 279 276,532 39,357 128,371 4,290 172,018 104,514 31 104,545 270,905 104,545 375,450 |
Total funds 2020 £ 16,077 598 16,675 - 80,131 1,815 81,946 (65,271) 4 (65,267) 336,172 (65,267) 270,905 |
|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the Year.
The notes on pages 9 to 14 form part of these financial statements.
Page 7
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee) REGISTERED NUMBER: 02447072
BALANCE SHEET AS AT 31 DECEMBER 2021
| Note Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Unrestricted funds 10 Total funds |
- 377,889 377,889 (2,441) |
2021 £ 375,448 375,448 375,448 375,448 375,448 375,448 |
5,412 267,934 273,346 (2,441) |
2020 £ 270,905 |
|---|---|---|---|---|
| 270,905 | ||||
| 270,905 | ||||
| 270,905 | ||||
| 270,905 | ||||
| 270,905 |
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the Year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 28 September 2022 and signed on their behalf by:
................................................
Mrs L Kalo
The notes on pages 9 to 14 form part of these financial statements.
Page 8
GIVE A CHILD A BRIGHTER FUTURE LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. General information
The charity company is a company limited by guarantee. The members of the company are the Management committee named on page . In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The registered office of the company is 64 New Cavendish Street, London, W1G 8TB and the principal place of business is 14 Rutland Court, Rutland Gardens, London, SW7 1BN.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Give a Child a Brighter Future Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds..
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities
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
Page 9
GIVE A CHILD A BRIGHTER FUTURE LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank
2.5 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.
2.6 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 accoun.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide
Provisions are measured at the best estimate of the amounts required to settle the obligation.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Page 10
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
3. Income from donations and legacies
| Donations Total 2020 4. Investment income Interest received 5. Analysis of grants Grants paid Total 2020 |
Unrestricte d funds 2021 £ 276,253 16,077 Unrestricte d funds 2021 £ 279 Grants to Institutions 2021 £ 128,371 80,131 |
Total funds 2021 £ 276,253 16,077 Total funds 2021 £ 279 Total funds 2021 £ 128,371 80,131 |
Total funds 2020 £ 16,077 |
|---|---|---|---|
| Total funds 2020 £ 598 |
|||
| Total funds 2020 £ 80,131 |
|||
Page 11
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
6. Governance Costs
| Accountancy fee Interest payable Bank charges Printing, postage and computer expenses |
Unrestricte d funds 2021 £ 1,440 95 2,756 - 4,291 |
Total funds 2021 £ 1,440 95 2,756 - 4,291 |
Total funds 2020 £ 1,440 75 - 300 |
|---|---|---|---|
| 1,815 |
7. Trustees' remuneration and expenses
During the Year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the Year ended 31 December 2021, no Trustee expenses have been incurred (2020 - £NIL) .
8. Debtors
| Due within one year Prepayments and accrued income Creditors: Amounts falling due within one year Accruals and deferred income |
2021 £ - - 2021 £ 2,441 |
2020 £ 5,412 |
|---|---|---|
| 5,412 | ||
| 2020 £ 2,441 |
9. Creditors: Amounts falling due within one year
Page 12
GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
10. Statement of funds
Statement of funds - current Year
| Balance at 1 January 2021 £ Unrestricted funds General funds 270,905 Statement of funds - prior Year Balance at 1 January 2020 £ Unrestricted funds General funds 336,172 |
Income £ 276,531 Income £ 16,675 |
Expenditure £ (172,019) Expenditure £ (81,946) |
Gains/ (Losses) £ 31 Gains/ (Losses) £ 4 |
Balance at 31 December 2021 £ 375,448 |
|---|---|---|---|---|
| Balance at 31 December 2020 £ 270,905 |
11. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Creditors due within one year Total |
Unrestricte d funds 2021 £ 377,889 (2,441) 375,448 |
Total funds 2021 £ 377,889 (2,441) |
|---|---|---|
| 375,448 |
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GIVE A CHILD A BRIGHTER FUTURE LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
11. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 273,346 (2,441) 270,905 |
Total funds 2020 £ 273,346 (2,441) 270,905 |
|---|---|---|
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