During the year ended 30.06.2024, the company accrued a donation of £22691 to its parent charity, Quality of Life Foundation, under the corporate gift aid scheme. This donation was made from the company’s distributable profits and was paid within nine months after the year-end.
The donation is recognized as an expense in the income statement for the year ended 30.06.2024 and has been deducted from the company’s taxable profits for that year. The directors have ensured that the company had sufficient distributable reserves to cover the donation and that the company remains able to meet its liabilities as they fall due.