REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
KIDS' VOICE FOUNDATION LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
KIDS' VOICE FOUNDATION LIMITED |
KIDS' VOICE FOUNDATION LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 August 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Statement of Financial Position | 4 | to | 5 |
Notes to the Financial Statements | 6 | to | 10 |
KIDS' VOICE FOUNDATION LIMITED (REGISTERED NUMBER: 06987764) |
REPORT OF THE TRUSTEES |
for the year ended 31 August 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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 Company was registered as a charity with registered charity number 1147178. |
OBJECTIVES AND ACTIVITIES |
Policies and objectives |
The Company's charitable objects were, for the period under review, as follows: |
-the advancement in life of children and young people up to the age of 25 by providing support (including, but not limited to, by way of grants) |
- activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
We must candidly report that no charitable activities were undertaken by Kids' Voice Foundation Limited due to the current economic environment. The absence of activities in 2023 is not reflective of our long-term objectives, but rather a transitional phase as we prepare to relaunch our efforts as the economic environment improves. |
We are committed to resuming our charitable activities, with plans to identify meaningful projects that align with our mission. The process for selecting projects will ensure that each aligns with our values and has the potential to make a difference. |
In addition to our renewed focus on charitable projects, we have plans to host a charitable event by the end of 2025. This event will serve as a platform to raise funds, awareness, and support for our mission. |
FINANCIAL REVIEW |
Principal funding sources |
The charity's principal sources of funding are donations and fundraising events. |
Investment policy and objectives |
The principal asset of the charity is cash, which is held to ensure the continuity of its operations. |
Reserves policy |
All reserves are held as unrestricted funds. |
FUTURE PLANS |
The company continues to operate as normal and continues to monitor the situation to determine the most suitable time for the next fund raising event. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Constitution |
The Company is registered as a company limited by guarantee under a Memorandum of Association dated 16 June 2009. |
Recruitment and appointment of new trustees |
The management of the Company is the responsibility of the Trustees who are appointed under the terms of the Company's Articles of Association. |
KIDS' VOICE FOUNDATION LIMITED (REGISTERED NUMBER: 06987764) |
REPORT OF THE TRUSTEES |
for the year ended 31 August 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Organisational structure |
The subscribers to the Memorandum of Association and such other persons as the Trustees shall admit to membership subsequent to incorporation of the Company shall be members of the Company. The minimum number of members of the Company shall be three. Every member shall have one vote at a general meeting. The minimum number of Trustees shall be three and there is no maximum number of Trustees unless otherwise determined but the Company in general meeting. Questions arising at any meeting of the Trustees shall be decided by a majority of votes. In the case of an equality of votes at such meeting, the Chairman shall have a second or casting vote. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The trustees have reviewed the risks inherent with the charity and consider these have been resolved or mitigated as far as possible to assure the future of the charity. |
In common with many charities the charity relies on donations, grants and fund raising events for its funding. The charity will not embark on projects that will absorb its reserves without due consideration and approval by the trustees. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
KIDS' VOICE FOUNDATION LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
for the year ended 31 August 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
EXPENDITURE ON |
Other | 2 |
NET INCOME/(EXPENDITURE) | 2 | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 2 |
TOTAL FUNDS CARRIED FORWARD | 2 | 1,864 |
KIDS' VOICE FOUNDATION LIMITED (REGISTERED NUMBER: 06987764) |
STATEMENT OF FINANCIAL POSITION |
31 August 2023 |
2023 | 2022 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 7 |
Unrestricted funds | 1,864 |
TOTAL FUNDS | 1,864 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
KIDS' VOICE FOUNDATION LIMITED (REGISTERED NUMBER: 06987764) |
STATEMENT OF FINANCIAL POSITION - continued |
31 August 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
KIDS' VOICE FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 August 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Financial reporting standard 102 - reduced disclosure exemptions |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
2. | OTHER |
2023 | 2022 |
£ | £ |
Support costs | 96 | 1,216 |
KIDS' VOICE FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
4. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Trustees |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
EXPENDITURE ON |
Other |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,864 |
KIDS' VOICE FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accruals and deferred income |
7. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.22 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 1,864 | (96 | ) | 1,768 |
TOTAL FUNDS | (96 | ) | 1,768 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (96 | ) | (96 | ) |
TOTAL FUNDS | ( |
) | (96 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,080 | (1,216 | ) | 1,864 |
TOTAL FUNDS | 3,080 | (1,216 | ) | 1,864 |
KIDS' VOICE FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
7. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (1,216 | ) | (1,216 | ) |
TOTAL FUNDS | - | (1,216 | ) | (1,216 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 3,080 | (1,312 | ) | 1,768 |
TOTAL FUNDS | 3,080 | (1,312 | ) | 1,768 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | - | (1,312 | ) | (1,312 | ) |
TOTAL FUNDS | - | (1,312 | ) | (1,312 | ) |
KIDS' VOICE FOUNDATION LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
8. | RELATED PARTY DISCLOSURES |
9. | LIMITED STATUS |
The company is limited by guarantee to the extent that the members undertake to contribute an to the company in the event of a winding up while he or she is a member. |