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REGISTERED COMPANY NUMBER: 07968584 (England and Wales)
REGISTERED CHARITY NUMBER: 1149571














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2024

for

Kimichi School

Kimichi School






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Report of the Trustees 1

Independent Examiner's Report 2

Statement of Financial Activities 3

Balance Sheet 4 to 5

Notes to the Financial Statements 6 to 11

Kimichi School (Registered number: 07968584)

Report of the Trustees
for the Year Ended 31 August 2024


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 2024. 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07968584 (England and Wales)

Registered Charity number
1149571

Registered office
Eastbourne House
111 Yardley Road
Acocks Green
Birmingham
West Midlands
B27 6LL

Trustees
Ms S E Alexander
Ms K E N Berry
R Jenkinson
Ms K M Alexander (appointed 5.3.25)
Mrs K S E Henderson-Jones (appointed 5.3.25)

Company Secretary

Independent Examiner
Leigh Goodwin - Chartered Accountant, ACA
Goodwins
6 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7AU

Approved by order of the board of trustees on 27 May 2025 and signed on its behalf by:





Ms S E Alexander - Trustee

Independent Examiner's Report to the Trustees of
Kimichi School

Independent examiner's report to the trustees of Kimichi School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 your charity's accounts as 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.








Leigh Goodwin - Chartered Accountant, ACA
The Institute of Chartered Accountants in England and Wales

Goodwins
6 Parkside Court
Greenhough Road
Lichfield
Staffordshire
WS13 7AU

27 May 2025

Kimichi School

Statement of Financial Activities
for the Year Ended 31 August 2024

31.8.24 31.8.23
Unrestricted Total
fund funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies (2 ) (1 )

Charitable activities
School fees 499,309 485,340

Other trading activities 2 - 10,000
Total 499,307 495,339

EXPENDITURE ON
Charitable activities
School fees 525,961 472,750

NET INCOME/(EXPENDITURE) (26,654 ) 22,589


RECONCILIATION OF FUNDS
Total funds brought forward (51,969 ) (74,558 )

TOTAL FUNDS CARRIED FORWARD (78,623 ) (51,969 )

Kimichi School (Registered number: 07968584)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Unrestricted Total
fund funds
Notes £    £   
FIXED ASSETS
Tangible assets 7 2,707 584

CURRENT ASSETS
Debtors 8 41,603 3,075
Cash at bank 19,854 35,328
61,457 38,403

CREDITORS
Amounts falling due within one year 9 (131,045 ) (57,266 )

NET CURRENT ASSETS/(LIABILITIES) (69,588 ) (18,863 )

TOTAL ASSETS LESS CURRENT
LIABILITIES

(66,881

)

(18,279

)

CREDITORS
Amounts falling due after more than one year 10 (11,742 ) (33,690 )

NET ASSETS/(LIABILITIES) (78,623 ) (51,969 )
FUNDS 12
Unrestricted funds (78,623 ) (51,969 )
TOTAL FUNDS (78,623 ) (51,969 )

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.


Kimichi School (Registered number: 07968584)

Balance Sheet - continued
31 August 2024

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 27 May 2025 and were signed on its behalf by:





S E Alexander - Trustee

Kimichi School

Notes to the Financial Statements
for the Year Ended 31 August 2024

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.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



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 TRADING ACTIVITIES
31.8.24 31.8.23
£    £   
Grants received - 10,000


Kimichi School

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.8.24 31.8.23
£    £   
Depreciation - owned assets 452 187

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.


5. STAFF COSTS
31.8.24 31.8.23
£    £   
Wages and salaries 308,756 291,157
308,756 291,157

The average monthly number of employees during the year was as follows:

31.8.24 31.8.23
Teaching staff and administration 9 -

No employees received emoluments in excess of £60,000.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies (1 )

Charitable activities
School fees 485,340

Other trading activities 10,000
Total 495,339

EXPENDITURE ON
Charitable activities
School fees 472,750

NET INCOME 22,589


Kimichi School

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
fund
£   

RECONCILIATION OF FUNDS
Total funds brought forward (74,558 )

TOTAL FUNDS CARRIED FORWARD (51,969 )

7. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 September 2023 1,000
Additions 2,575
At 31 August 2024 3,575
DEPRECIATION
At 1 September 2023 416
Charge for year 452
At 31 August 2024 868
NET BOOK VALUE
At 31 August 2024 2,707
At 31 August 2023 584

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 41,603 3,075


Kimichi School

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 11) 12,701 -
Trade creditors - 1
Social security and other taxes 6,199 5,648
Other creditors 48,245 1,245
Accruals and deferred income 63,900 50,372
131,045 57,266

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 11) 11,742 33,690

11. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year on demand:
Bank overdrafts 12,701 -
Amounts falling between one and two years:
Bank loans - 1-2 years 9,566 9,566
Amounts falling due between two and five years:
Bank loans - 2-5 years 2,176 24,124

12. MOVEMENT IN FUNDS
Net
movement At
At 1.9.23 in funds 31.8.24
£    £    £   
Unrestricted funds
General fund (51,969 ) (26,654 ) (78,623 )

TOTAL FUNDS (51,969 ) (26,654 ) (78,623 )

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 499,307 (525,961 ) (26,654 )

TOTAL FUNDS 499,307 (525,961 ) (26,654 )


Kimichi School

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.9.22 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund (74,558 ) 22,589 (51,969 )

TOTAL FUNDS (74,558 ) 22,589 (51,969 )

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 495,339 (472,750 ) 22,589

TOTAL FUNDS 495,339 (472,750 ) 22,589

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.9.22 in funds 31.8.24
£    £    £   
Unrestricted funds
General fund (74,558 ) (4,065 ) (78,623 )

TOTAL FUNDS (74,558 ) (4,065 ) (78,623 )

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 994,646 (998,711 ) (4,065 )

TOTAL FUNDS 994,646 (998,711 ) (4,065 )


Kimichi School

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2024.