| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| for |
| Millies Foundation |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| for |
| Millies Foundation |
| Millies Foundation |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2024 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 | to | 9 |
| Millies Foundation (Registered number: 06669221) |
| Report of the Trustees |
| for the Year Ended 31 October 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 October 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). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The main objective of the charity continues to be the financial support of children and their families in the Philippines. The charity continues to seek to recruit individuals and organisations to sponsor these families through regular donations enabling the support of such families on an ongoing basis. |
| Significant activities |
| The charity continues to provide financial support to families and individuals sponsoring 10 children with schooling. In addition the feeding programme continues. |
| Public benefit |
| The charity provides relief from poverty with the sponsorship of children through school and the provision of a feeding programme to assist with basic needs. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The charity supports families in the Philippines in a variety of ways including a programme which provides food, clothing and other basic essentials to families in need. The charity also works alongside a school and nursery to provide toys, clothes and books to the children that attend. |
| Fundraising activities |
| The money received by the charity is a combination of the sponsorship of specific children and general donations to support the ongoing charitable work. |
| FINANCIAL REVIEW |
| Financial position |
| The charity remains in a stable financial position. As the charity has few overheads the trustees consider the position of the charity to be as sufficient. |
| Principal funding sources |
| The principal funding sources are regular donations by sponsors for specific families and fund raising activities such as car boot sales and sponsored walks |
| 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 |
| Registered Charity number |
| Millies Foundation (Registered number: 06669221) |
| Report of the Trustees |
| for the Year Ended 31 October 2024 |
| Registered office |
| Trustees |
| Company Secretary |
| Independent Examiner |
| Altus Business Consulting Ltd |
| 88-89 High Street |
| Wordsley |
| Stourbridge |
| West Midlands |
| DY8 5SB |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Millies Foundation |
| Independent examiner's report to the trustees of Millies Foundation ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 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 |
| 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. |
| Richard Ashmore BA, FCA |
| Altus Business Consulting Ltd |
| 88-89 High Street |
| Wordsley |
| Stourbridge |
| West Midlands |
| DY8 5SB |
| 22 July 2025 |
| Millies Foundation |
| Statement of Financial Activities |
| for the Year Ended 31 October 2024 |
| 31.10.24 | 31.10.23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 1,959 |
| Millies Foundation (Registered number: 06669221) |
| Balance Sheet |
| 31 October 2024 |
| 31.10.24 | 31.10.23 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| CURRENT ASSETS |
| Cash in hand |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 5 |
| Unrestricted funds | 1,959 |
| Restricted funds | - |
| TOTAL FUNDS | 1,959 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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. |
| 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 |
| Millies Foundation |
| Notes to the Financial Statements |
| for the Year Ended 31 October 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. |
| Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
| 2. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.10.24 | 31.10.23 |
| £ | £ |
| Other operating leases | 800 | 2,400 |
| Millies Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 3. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 October 2024 nor for the year ended 31 October 2023. |
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 2,227 | 1,559 |
| TOTAL FUNDS CARRIED FORWARD | 1,959 | - | 1,959 |
| 5. | MOVEMENT IN FUNDS |
| Net |
| At | movement | At |
| 1.11.23 | in funds | 31.10.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 1,959 | 2,650 | 4,609 |
| Restricted funds |
| Restricted Fund | - | 498 | 498 |
| TOTAL FUNDS | 3,148 | 5,107 |
| Millies Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 5. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 4,235 | (1,585 | ) | 2,650 |
| Restricted funds |
| Restricted Fund | 1,100 | (602 | ) | 498 |
| TOTAL FUNDS | ( |
) | 3,148 |
| Comparatives for movement in funds |
| Net |
| At | movement | At |
| 1.11.22 | in funds | 31.10.23 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,227 | (268 | ) | 1,959 |
| Restricted funds |
| Restricted Fund | 1,559 | (1,559 | ) | - |
| TOTAL FUNDS | 3,786 | (1,827 | ) | 1,959 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 965 | (1,233 | ) | (268 | ) |
| Restricted funds |
| Restricted Fund | 1,590 | (3,149 | ) | (1,559 | ) |
| TOTAL FUNDS | 2,555 | (4,382 | ) | (1,827 | ) |
| Millies Foundation |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2024 |
| 5. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| At | movement | At |
| 1.11.22 | in funds | 31.10.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,227 | 2,382 | 4,609 |
| Restricted funds |
| Restricted Fund | 1,559 | (1,061 | ) | 498 |
| TOTAL FUNDS | 3,786 | 1,321 | 5,107 |
| 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 | 5,200 | (2,818 | ) | 2,382 |
| Restricted funds |
| Restricted Fund | 2,690 | (3,751 | ) | (1,061 | ) |
| TOTAL FUNDS | 7,890 | (6,569 | ) | 1,321 |
| 6. | RELATED PARTY DISCLOSURES |