Kids' Voice Foundation Limited - Charities report - 19.1
Kids' Voice Foundation Limited - Charities report - 19.1
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018 |
| FOR |
| KIDS' VOICE FOUNDATION LIMITED |
| KIDS' VOICE FOUNDATION LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2018 |
| 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 9 |
| KIDS' VOICE FOUNDATION LIMITED |
| REPORT OF THE TRUSTEES |
| for the year ended 31 August 2018 |
| The trustees (who are the directors of the company for the purposes of the Companies Act 2006) present their annual |
| report together with the financial statements of Kids' Voice Foundation Limited (the "Company") as at and for the year |
| ended 31 August 2018. |
| The Trustees confirm that the Annual Report and financial statements of the Company comply with the current statutory |
| requirements, the requirements of the Company's governing documents and the provisions of the Statement of |
| Recommended Practice applicable to charities preparing their accounts 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the |
| UK and Republic of Ireland' and the Companies Act 2006. |
| 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 |
| The Trustees of Kids' Voice Foundation Limited have completed and have monitored two projects that were chosen by |
| the Trustees. The Poppy project and the Duke of Edinburgh project have now been completed with follow up to all |
| donors being undertaken currently.No projects have been identified or undertaken in the year ended 31 August 2018. |
| Additionally, the Trustees have started looking into new projects to take on later in 2019 year-end. Once projects have |
| been identified, it will be reviewed by all Trustees and a meeting will be held to vote on the approval of the project, with |
| a written resolution also to be completed. |
| 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 |
| Kids Voice Foundation Limited is planning on having its second fund raising event in 2019. The Trustees have started |
| discussions on planning the event. However, only when the next charitable projects are identified will the planning on |
| the fund raising events commence. |
| 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 |
| REPORT OF THE TRUSTEES |
| for the year ended 31 August 2018 |
| 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. |
| 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 2018 |
| 2018 | 2017 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| EXPENDITURE ON |
| Raising funds |
| Other | 2 |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 6,540 |
| KIDS' VOICE FOUNDATION LIMITED |
| STATEMENT OF FINANCIAL POSITION |
| At 31 August 2018 |
| 2018 | 2017 |
| Unrestricted fund |
Total funds |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 5 |
| 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 | 5,223 | 6,540 |
| TOTAL FUNDS | 6,540 |
| KIDS' VOICE FOUNDATION LIMITED |
| STATEMENT OF FINANCIAL POSITION - CONTINUED |
| At 31 August 2018 |
| The charitable company is entitled to exemption from audit under |
| Section 477 of the Companies Act 2006 for the year ended 31 August 2018. |
| The members have not required the company to obtain an audit of its financial statements for the year ended |
| 31 August 2018 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 special provisions of Part 15 of the Companies |
| Act 2006 relating to charitable small companies. |
| The financial statements were approved by the Board of Trustees on |
| KIDS' VOICE FOUNDATION LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 August 2018 |
| 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 2015)', |
| 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 charity 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| 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 |
| 2018 | 2017 |
| £ | £ |
| Support costs | 1,137 | 511 |
| 3. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 August 2018 nor for the year ended |
| 31 August 2017. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 August 2018 nor for the year ended 31 August 2017. |
| KIDS' VOICE FOUNDATION LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the year ended 31 August 2018 |
| 4. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| EXPENDITURE ON |
| Raising funds |
| Other |
| Total |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 7,314 |
| TOTAL FUNDS CARRIED FORWARD | 6,540 |
| 5. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Finished goods |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Accruals and deferred income |
| 7. | MOVEMENT IN FUNDS |
At 1.9.17 |
Net movement in funds |
At 31.8.18 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 6,540 | (1,317 | ) | 5,223 |
| TOTAL FUNDS | (1,317 | ) | 5,223 |
| KIDS' VOICE FOUNDATION LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the year ended 31 August 2018 |
| 7. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | - | (1,317 | ) | (1,317 | ) |
| TOTAL FUNDS | ( |
) | (1,317 | ) |
| Comparatives for movement in funds |
At 1.9.16 |
Net movement in funds |
At 31.8.17 |
| £ | £ | £ |
| Unrestricted Funds |
| General fund | 7,314 | (774 | ) | 6,540 |
| TOTAL FUNDS | 7,314 | (774 | ) | 6,540 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | - | (774 | ) | (774 | ) |
| TOTAL FUNDS | - | (774 | ) | (774 | ) |
| A current year 12 months and prior year 12 months combined position is as follows: |
At 1.9.16 |
Net movement in funds |
At 31.8.18 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 7,314 | (2,091 | ) | 5,223 |
| TOTAL FUNDS | 7,314 | (2,091 | ) | 5,223 |
| KIDS' VOICE FOUNDATION LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - CONTINUED |
| for the year ended 31 August 2018 |
| 7. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming resources |
Resources expended |
Movement in funds |
| £ | £ | £ |
| Unrestricted funds |
| General fund | - | (2,091 | ) | (2,091 | ) |
| TOTAL FUNDS | - | (2,091 | ) | (2,091 | ) |
| 8. | RELATED PARTY DISCLOSURES |
| There were no related party transactions for the year ended 31 August 2018. |
| 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. |