Little Hedgehogs Ltd Charity Accounts

LITTLE HEDGEHOGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 5030256

CHARITY REGISTRATION NUMBER: 1104967

Little Hedgehogs Ltd

Company Limited by Guarantee

Unaudited Financial Statements

31 March 2018

Little Hedgehogs Ltd

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2018

	Page

Trustees' annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	3

Statement of financial position	4

Statement of cash flows	5

Notes to the financial statements	6

Little Hedgehogs Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2018

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2018 .

Reference and administrative details

Registered charity name	Little Hedgehogs Ltd

Charity registration number	1104967

Company registration number	5030256

Principal office and registered	26 The Nursery
office	Sutton Courtenay
	ABINGDON
	OX14 4UA
	Oxon

The trustees

	Mrs C L Turner
	Mr D G Johnson
	Mr M A Turner

Company secretary	Masonberry Ltd

Accountants	Johnson & Company
	Chartered accountants
	26 The Nursery
	Sutton Courtenay
	ABINGDON
	Oxon
	OX14 4UA

Structure, governance and management

A strategic review is unnecessary owing to the small exemption

Objectives and activities

The Company only recruits when necessary in line with the Objectives and Activities associated with the Pre-School learning. Presently there are no pupils under schooling.

Achievements and performance

Financial review

The Company is self funding and self sufficient in terms of finances. When any further funding is required such funds will be sourced from a combination of bank overdraft and loans plus charging for services rendered.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 19 May 2018 and signed on behalf of the board of trustees by:

Mr D G Johnson	Masonberry Ltd
Trustee	Charity Secretary

Little Hedgehogs Ltd

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 31 March 2018

	2018		2017
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	600	600	480
		----	----	----
Total income		600	600	480
		----	----	----

Expenditure

Expenditure on charitable activities	6,7	500	500	480
		----	----	----
Total expenditure		500	500	480
		----	----	----

	----	----	----
Net income and net movement in funds	100	100	–
	----	----	----

Reconciliation of funds

Total funds brought forward	72	72	72
	----	----	----
Total funds carried forward	172	172	72
	----	----	----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Little Hedgehogs Ltd

Company Limited by Guarantee

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Current assets

Cash at bank and in hand	403		953

Creditors: amounts falling due within one year	11	195		845
		----		----
Net current assets			208	108
			----	----
Total assets less current liabilities			208	108
			----	----

Funds of the charity

Unrestricted funds		172	72
		----	----
Total charity funds	12	172	72
		----	----

For the year ending 31 March 2018 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 19 May 2018 , and are signed on behalf of the board by:

Mr D G Johnson
Trustee

Little Hedgehogs Ltd

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2018

	2018	2017
	£	£

Cash flows from operating activities

Net income	100	–
	----	----
Cash generated from operations	100	–
	----	----
Net cash from operating activities	100	–
	----	----

Cash flows from financing activities

Proceeds from borrowings	( 650)	–
	----	----
Net cash used in financing activities	( 650)	–
	----	----

Net decrease in cash and cash equivalents	( 550)	–
Cash and cash equivalents at beginning of year	953	953
	----	----
Cash and cash equivalents at end of year	403	953
	----	----

Little Hedgehogs Ltd

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 26 The Nursery, Sutton Courtenay, ABINGDON, OX14 4UA, Oxon.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 13.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

The Company has no share capital and is limited by guarantee. In the event of a winding up the members will contribute £5 per members towards any winding up procedures and costs.

5. Donations and legacies

Unrestricted Funds	Total Funds 2018	Unrestricted Funds	Total Funds 2017
£	£	£	£

Donations

Donations received	600	600	480	480
	----	----	----	----

6. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2018	Unrestricted Funds	Total Funds 2017
	£	£	£	£
Activity type 1	500	500	480	480
	----	----	----	----

7. Expenditure on charitable activities by activity type

	Activities undertaken directly	Total funds 2018	Total fund 2017
	£	£	£
Activity type 1	500	500	480
	----	----	----

8. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2018	2017
	£	£

The average head count of employees during the year was Nil (2017: Nil). The average number of full-time equivalent employees during the year is analysed as

follows:	2018	2017
	No.	No.
Number of staff - type 1	3	–
	----	----

No employee received employee benefits of more than £60,000 during the year (2017: Nil).

9. Trustee remuneration and expenses

- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

- no trustee expenses have been incurred.

10. Tangible fixed assets

	Equipment	Total
	£	£
Cost
At 1 April 2017 and 31 March 2018	8,895	8,895
	-------	-------
Depreciation
At 1 April 2017 and 31 March 2018	8,895	8,895
	-------	-------
Carrying amount
At 31 March 2018	–	–
	-------	-------
At 31 March 2017	–	–
	-------	-------

11. Creditors: amounts falling due within one year

	2018	2017
	£	£
Director loan accounts	195	845
	----	----

12. Analysis of charitable funds

Unrestricted funds

	At 1 April 2017	Income	Expenditure	At 31 March 2018
	£	£	£	£
General funds	72	600	(500)	172
	----	----	----	----

	At 1 April 2016	Income	Expenditure	At 31 March 2017
	£	£	£	£
General funds	72	480	(480)	72
	----	----	----	----

13. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The charity transitioned to FRS 102 on 1 April 2016.

No transitional adjustments were required in the retained funds or income or expenditure for the year.