The trustees present their annual report and financial statements for the year ended 30 June 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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 (FRS 102)" (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.
The objects of the Company will be such charitable purposes as the trustees from time to time think fit, and in particular the relief of those in need by virtue of age, ill-health, disability, financial hardship or other disadvantage by the provision of charitable support to those fitting the criteria and who reside within the Dundee area.
In furtherance of the Objects the Company shall have the following power:-
To raise funds and organise appeals and invite and receive contributions from any person(s) whomsoever by way of subscription (whether or not under a Deed of Covenant), donation or otherwise and whether or not subject to any special trusts or conditions. Provided that the Company shall not undertake any permanent trading activities in raising funds, the profits of which are liable to tax, otherwise than for carrying out the Objects.
In addition, to receive and accept funds from any person(s) subject to condition that such funds be applied only in furtherance of the Objects and in a particular area or areas of Scotland.
Main achievements of the charity
The results for the year are set out in the attached accounts. The charity has worked towards their objectives during the year and has received several donations which will be donated back out to those they intend to support as referred to in their governing document.
Local Corporates
The charity continues to work closely with Findlays, MMG Archibold, Blackadders, Overgate, DC Thomson, Coast Renewable Services and Evening Telegraph. the charity is currently the Evening Telegraphs' official charity. Our aim for 2024 is to engage with more businesses in the local area, working together to fundraise on our behalf.
Ambassadors
In May 2018 the charity appointed 8 Ambassadors. Our Ambassadors are local people who have supported the charity throughout the years. As part of their voluntary role it has been agreed that each would be responsible for one fundraising event in the year as well as support the charity and promote Help For Kids using their knowledge and contacts in the Dundee and Perth area.
Our current Ambassadors are;
Aileen Bollan
Andrew McMurray
Lynne Wilson
Lynn Allardice
Fiona Hain
Steven Elder
Kirsty Fobes
Our Ambassadors continue to support the charity.
Fundraising activities and income generation
Ladies Day September 2023, was a huge success once again raising nearly £12,000.
In October 2023, Adam Findlay, Chairman, resigned from Help for Kids. There was now no Chairman in place which left DC Thomson to have conversations about potentially having a member of the Thomson family coming on board. This was to be discussed at the next board meeting.
November 2023 saw our Vice Chair, Derek Miller, host our first ever Christmas ball in association with Stable Kitchens and Winter Simpson Print. This was a huge success raising nearly £10,000 in toys and £8,000 in cash on the evening by various donations.
The Christmas Toy Appeal 2023 was even bigger than previously and raised £139,000 in donations, helping over 1,900 children in Dundee with sacks of parcels; each parcel contained 5 toys, a selection box, a teddy, Beano, and pyjamas or clothing. This year we had volunteers from various organisations in Dundee which really helped raise the profile of what we do here in Dundee. Volunteers were from DC Thomson, Insights, Broker Insights, Hillcrest, Coast Renewables and Remax, as well as donations from most of these organisations. We also worked closely with Dundee City Council to do all our deliveries. This worked extremely well as did having the premises at Kingsway.
In April 2024, Derek Miller was nominated as the new Chairperson.
In May 2024 we held our 11th annual golf day. The event was a great success, raising just short of £9,000.
In June 2024, Cheryl Peebles resigned as a Trustee.
We continue to work closely with local corporate companies, Findlays CA, Blackadders, DC Thomson, Coast renewables, Beam Orthodontists, MMG Archbold, Stable Kitchen and Tesco Call centre, Tesco South Road and Tesco Kingsway
We continue to work and meet with our Team of Volunteer ambassadors: Steven Elder, Lynn Allardice, Andrew McMurray, Lynne Wilson, Aileen Bollan, Kirsty Forbes, and Fiona Hain.
Overall Help for Kids is doing very well, and we hope to continue fundraising and continue helping local children.
The reserves policy of the charity is to hold free unrestricted reserves of approximately 5 months expenditure. The charity has unrestricted reserves which meets the reserves policy.
At the year end the charity holds £34,952 (2023 - £26,858) in reserves, of which £31,244 is unrestricted and of this free reserves not invested in fixed assets or designated amounts to £31,244 (2023 - £19,354). This equates to approximately 8 months direct costs. Restricted reserves held at the year end amount to £3,708 (2023 - £7,504).
Help for Kids is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Methods of appointment or election of trustees.
The trustees retire by rotation and are eligible for reappointment.
Organisational structure and decision-making policies
The trustees who on a quarterly basis and as they see fit administer the charity.
Financial matters are reported to the trustees on a monthly basis and when required.
The constitution has been reviewed and subsequent to the year end the name of the charity has been updated with both OSCR and Companies House to remove Wave 102 as they are no longer associated with Help for Kids. The Evening Telegraph is now a part of the charity.
Policies adopted for the induction and training of Trustees.
Trustees are recruited on an ad hoc basis, as and when required. There are no formal induction or training procedures in place for new trustees due to the organisation being relatively young.
The Members of the Company guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of winding up.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 30 June 2024, which are set out on pages 5 to 18.
The charity’s trustees, who are also the directors of Help For Kids for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
In connection with my examination, no matter has come to my attention:
to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 18 form part of these financial statements.
The notes on pages 7 to 18 form part of these financial statements.
Help For Kids (previously known as Wave 102 Help for Kids) is a private company limited by guarantee incorporated in Scotland. The registered office is 11 Dudhope Terrace, Dundee, DD3 6TS, Scotland.
The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
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.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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.
All expenditure is inclusive of irrecoverable VAT.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources, which include depreciation, gifts in kind and donations in kind for various appeals. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Donations and gifts in kind are based on the donations coming in and are count them based on how many children are helped via these donations Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are some costs incurred which are not directly related to the charitable project but are deemed general support costs for the running of the organisation. Support costs are identified as those costs not used by a particular funding stream.
Staff wages and other overhead costs are allocated towards projects based on the funding.
Gifts in kind (including Xmas appeal, Winter clothing and Easter Egg appeal) are included at the estimated cost of donated good.
The bike appeal is included at an estimated service cost of £100 per donated bike.
Income from fundraising events
Income from fundraising events
Raising funds
Ladies Lunch
Misc fundraising costs
Advertising
Website costs
Just Giving fees
IT costs
Travel
Book-keeping
Rent
Miscellaneous expenses
All grants paid to institutions have been awarded in line with Help for Kids charitable objectives and awarded to support families and children facing poverty within Dundee and the surrounding area.
All grants paid to individuals have been awarded under the charity's referral system, in line with Help for Kids charitable objectives and awarded to support families and children facing poverty within Dundee and the surrounding area.
Office supplies
Governance costs includes payments to the independent examiner of £1,500 (2023- £1,500) for independent examiner fees.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Purpose of Funds
Unrestricted funds:
General funds are used for the general operating activities of the charity as the Trustees see fit.
Restricted funds:
Christmas Toy Appeal - Donations for running the annual toy appeal to provide under privileged children in the local area with a gift for Christmas.
Easter Egg Appeal - Easter Eggs donated to provide under privileged children in the local area with Easter eggs.
Beds for Bairns - Project launched by The Hillcrest Foundation to provide new beds for children in the local area living in challenging circumstances.
Name of related party: Blackadders LLP
Nature of relationship: Laura McDowall, trustee of Help for Kids, is also a partner of Blackadders LLP. Transactions: During the year, Blackadders donated a total of £3,448.95 to Help for Kids as their chosen charity of the year. Help for Kids also had expenses to Blackadders amounting to £480.
Name of related party: G2 Plant (UK) Limited
Nature of relationship: Gavin Chalmers Findlay, trustee of Help for Kids, is also a director of G2 Plant (UK) Limited.
Transactions: During the year, G2 Plant (UK) Limited donated a total of £450 to Help for Kids.