Penuel Children's Foundation
Accounts
for the year ended 18 October 2024
Charity number 101028
Penuel Children's Foundation
Statement of Financial Activities (Including Summary Income and Expenditure Account) for the year ended 18 October 2024
| Unrestricted Restricted Funds Funds 2024 2024 Income from: Notes £ £ Donation income 2 30,733 - Total income 30,733 - Expenditure on: Charitable activities 2 ) (48,060 - Costs of governance 2 ) (1,514 - Total expenditure ) (49,574 - Net income before transfers ) (18,841 - Transfer between funds - - Net incoming resources ) (18,841 - Fund balances brought forward 2 26,794 - Fund balances carried forward 2 7,953 - |
Year Total 2024 £ 30,733 30,733 ) (48,060 ) (1,514 ) (49,574 ) (18,841 - ) (18,841 26,794 7,953 |
Year Total 2023 £ 19,776 19,776 ) (10,372 ) (1,144 ) (11,516 8,260 - 8,260 18,534 26,794 |
|---|---|---|
All of the above results are derived from continuing activities.All gains and losses recognised in the year are included above.
Penuel Children's Foundation
| Balance sheet as at 18 October 2024 2024 Notes £ £ Current assets Cash at bank and in hand 7,953 7,953 Net current assets 7,953 Net assets 7,953 Capital and reserves Unrestricted funds 2 7,953 General funds 7,953 |
2023 £ 26,794 26,794 |
£ 26,794 |
|---|---|---|
| 26,794 | ||
| 26,794 | ||
| 26,794 |
The financial statements were approved by the Trustees on 11 December 2024 and authorised for issue.
Trustee
Penuel Children's Foundation
Notes to the financial statements for the year ended 18 October 2024
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1. Accounting policies
1.1. Basis of preparation
The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association 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 published in October 2019". The charity is a Public Benefit Entity as defined by FRS 102.
1.2. Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the directors for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal
1.3. Resources
Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Donations are included as income when they are received. No amounts are included in the financial statements for services donated by volunteers.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.
Penuel Children's Foundation
Notes to the financial statements
for the year ended 18 October 2024
.................... continued
2. Programme Funds:
| Balance | Incoming | Outgoing | Balance | |||
|---|---|---|---|---|---|---|
| 19 October | Resources | Resources | Transfers 18 October 2024 | |||
| 2023 | ||||||
| Funds | ||||||
| Mihlali | 26,047 | 20,506 | (42,341 | ) | - | 4,212 |
| Starfish | 747 | 10,227 | (7,233 | ) | - | 3,741 |
| Total funds | 26,794 | 30,733 | (49,574 | ) | - | 7,953 |