Child Rights and You UK Limited

Transcription

1 Company Limited by Guarantee FINANCIAL STATEMENTS for the year ended 31 March 2008 Company Registration No Charity Number

2 MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS REGISTERED CHARITY NAME Child Rights and You UK Limited CHARITY NUMBER COMPANY REGISTRATION NUMBER PRINCIPAL OFFICE P O Box 106 Tunbridge Wells Kent TN2 9GX REGISTERED OFFICE 1 Procter Street London WC1V 6PG TRUSTEES I Hukku A S J Jhala T O Picton Howell I Fernandes SECRETARY Richmond Company Administration Limited ACCOUNTANTS Baker Tilly Tax and Accounting Limited Chartered Accountants Hanover House 18 Mount Ephraim Road Tunbridge Wells Kent TN1 1ED SOLICITORS Picton Howell LLP 1 Procter Street London WC1V 6PG

3 TRUSTEES ANNUAL REPORT for the year ended 31 March 2008 The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March REFERENCE AND ADMINISTRATIVE DETAILS Reference and administrative details are shown in the schedule of members of the board and professional advisers. THE TRUSTEES The trustees who served the company during the period were as follows: I Hukku A S J Jhala T O Picton Howell I Srinath I Fernandes I Fernandes was appointed as a director on 18 March I Srinath retired as a director on 18 March STRUCTURE, GOVERNANCE AND MANAGEMENT Structure Child Rights and You UK Limited was registered as a charity on 1 May 2007 with the Charity Commission. The charity s registration number is The charity is governed by its memorandum and articles of association dated 14 November 2005 as amended by special resolution dated 25 January The company is limited by guarantee (company registration number ) and does not have a share capital. The liability of the members is limited to 10 each. Governance and Management The charity has four trustees, two of who are based in UK and two in India. The trustees who served during the year were Teja Picton Howell, Ajay Jhala, Ila Hukku and Ingrid Srinath. Later in the year Irwin Fernandes replaced Ingrid Srinath. Administrators of the charity support the trustees. OBJECTIVES AND ACTIVITIES Objects of the Charity The charity s objects are to relieve the needs of socially and economically disadvantaged children in order to improve their condition, especially children in India or of Indian descent. Activities For those of us at Child Rights and You UK Limited ( CRY UK ), children share the same inherent, universal and inalienable right of all human beings. We believe that children are individuals by themselves and an independent member of the family and society. CRY UK s vision is to see every child free from bondage, poverty, violence, discrimination, deprivation, destitution, neglect and abandonment. CRY UK works with CRY in India to manage and monitor the projects supported by CRY UK. We work with grassroots partners who direct our actions in various villages and slums in India to promote a free, equal and quality education for every child. 1

4 TRUSTEES ANNUAL REPORT (continued) for the year ended 31 March 2008 ACHIEVEMENTS AND PERFORMANCE During the year CRY UK carried out various fundraising initiatives to raise funds for the children s projects it has adopted in India. The following are highlights of in which every member at CRY UK has worked in unison to enable a Child Rights movement: Organised corporate events like a football and cricket tournament Organised dinner and dance and stand up comedy nights Raised funds through individual donations. FINANCIAL REVIEW The key responsibility of the charity would be to transfer the maximum amount of money raised from donations to the beneficiaries at the ground level in accordance with the charity s objects. Sufficient reserves would be maintained to meet budgeted transfers and payments or meet sudden needs of the field programme. Reserves at 31 March 2008 were 19,283. The trustees evaluate request for funding from various grassroots organisations as per the charity s objects. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2005) and in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities. On behalf of the board T O Picton Howell Trustee 25 November 200 2

5 TRUSTEES' RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those financial statements, the trustees are required to: a. select suitable accounting policies and then apply them consistently; b. make judgements and estimates that are reasonable and prudent; c. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue its activities. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Charities Act The trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 3

6 STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2008 Funds 2008 Note INCOMING RESOURCES Incoming resources from generating funds: Voluntary income 1 10,026 Activities for generating funds 2 32,506 Investment income TOTAL INCOMING RESOURCES 42,758 RESOURCES EXPENDED Costs of generating funds: Fundraising costs 4 (20,220) Governance costs 6 (3,255) TOTAL RESOURCES EXPENDED (23,475) NET INCOMING RESOURCES FOR THE YEAR/NET INCOME FOR THE YEAR 19,283 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 19,283 The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. 4

7 BALANCE SHEET 31 March Notes CURRENT ASSETS Debtors 9 2,231 Cash at bank 24,308 26,539 CREDITORS Amounts falling due within one year 10 (7,256) NET CURRENT ASSETS 19,283 TOTAL ASSETS LESS CURRENT LIABILITIES 19,283 NET ASSETS 19,283 FUNDS income funds 11 19,283 TOTAL FUNDS 19,283 These financial statements are prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities. The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 1985 (the Act) relating to the audit of the financial statements for the year by virtue of section 249A(1), and that no member or members have requested an audit pursuant to section 249B(2) of the Act. The trustees acknowledge their responsibilities for: (i) (ii) ensuring that the company keeps proper accounting records which comply with section 221 of the Act, and preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 226, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company. These financial statements were approved and authorised for issue by the trustees on 25 November 2008 and are signed on their behalf by: T O Picton Howell Director 5

8 ACCOUNTING POLICIES BASIS OF ACCOUNTING The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" issued in March 2005 (SORP 2005) and the Companies Act INCOMING RESOURCES All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. RESOURCES EXPENDED Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs of generating funds are those costs incurred in attracting voluntary and fundraising income. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. FUNDS funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. CASH FLOW STATEMENT The charity is exempt from the requirement to publish a cash flow statement as it qualifies as a small charity. CORPORATION TAX Child Rights and You UK Limited is a registered charity and as such its income and gains falling within Section 505 Income and Corporation Taxes Act 1988 or Section 256 of Taxation of Chargeable Gains Act 1992 are exempt from corporation tax to the extent that they are applied to its charitable objectives. COMPARATIVES During the previous year, the charity was dormant and comparative figures are all zero. VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred. 7

9 NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March VOLUNTARY INCOME Donations 10,026 2 INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS Fundraising events 32,506 3 INVESTMENT INCOME Bank interest receivable FUNDRAISING COSTS Fundraising events 4,355 Support costs 15,865 5 SUPPORT COSTS ,220 =============== Accountancy fees 3,501 Consultancy fees 11,952 Subscriptions 227 Bank charges 85 Late fee charge Total 15,865 =============== 6 GOVERNANCE COSTS Accountancy fees 3,255 7 STAFF COSTS AND EMOLUMENTS No salaries or wages have been paid to employees during the year. 7

10 8 Child Rights and You UK Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March TRUSTEES None of the Trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year. The charity employs Picton Howell LLP as its solicitors, a firm in which T O Picton-Howell is a partner. No amounts have been incurred by the charity from Picton Howell LLP during the year. 9 DEBTORS 2008 Prepayments and accrued income 2, CREDITORS: Amounts falling due within one year 2008 Accruals and deferred income 7, UNRESTRICTED INCOME FUNDS Balance at 31 March 2008 General Funds 19,283 General Funds this relates to unrestricted and undesignated funds which are available for expending in line with the charity s objects. 8

11 ACCOUNTANTS REPORT TO THE MEMBERS OF CHILD RIGHTS AND YOU UK LIMITED In accordance with your instructions we have prepared, without carrying out an audit, the accounts set out on pages 4 to 8 for the year ended 31 March 2008 from the accounting records, information and explanations supplied to us. BAKER TILLY TAX AND ACCOUNTING LIMITED Hanover House 18 Mount Ephraim Road Tunbridge Wells Kent TN1 1ED Date: 26 November