Company no. 2844191 Charity no. 1025787 Springboard Opportunity Group Trustees. Report and Financial Statements Year to 31 August 2024 SPRINGB SIfyCE 1986 OPPORTUNITY GROUP =
Springboard Opportunity Group Contents For The Year Ended 31 Au ust 2024 Page Report of the Trustees Reference and Administrative Details Independent Examiner's Report Statement of Financial Activities Balance Sheet Cash Flow Statement 10 Notes to the Financial Statements 11-19
Springboard Opportunity Group Report of the Trustees For the ear ended 31 Au ust 2024 INTRODUCTION TO THE CHARITY Springboard is a Registered Charity and Company Limited by Guarantee established under a Memorandum which sets out its objects and powers. Its governing rules are contained in Articles of Association. It provides support, learning, care and play for children from birth to 5 years who have additional needs and disabilities. Its operational area is North Somerset. It was set up in 1986 by a group of local parents. Additionally, the financial statements comply with the Charities Act 2011, the Companies Act 2006, and Accounting and Reporting by Charities Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective as of 1 January 2019). Reference and administrative information as set out on page 6 forms part of this report. OUR PURPOSES AND ACTIVITIES Vision That every child from birth to 5 years in North Somerset has the care, education, support and the opportunity to reach their full potential. Mission To give the best possible start in life to children under 5 with additional needs and disabilities by providing specialist early learning and interventions and offering support and friendship to their families across North Somerset. Values Inspiring We are innovative and open to ideas. We are bold and adventurous, determined to do our best for every child and family. Positive We celebrate achievements, no matter how small, by children and each other. We explore and learn together, striving to improve. Fun We are creative and inventive, making learning through play enjoyable and fun. Friendly We are caring, warm and welcoming. We create a safe and nurturing environment for both child and family. Our aim is to improve opportunities for children with additional needs from birth to 5 years, and for their families in North Sonmerset. ACHIEVEMENTS AND PERFORMANCE Activities to achieve our aims included: SOG settings were fully open and active in the years 23124. Finances continued to be closely monitored by both senior leaders and trustees ensuring that the organisation remained in as strong a position as possible for the forthcoming year.
Springboard Opportunity Group Report of the Trustees For the ear ended 31 Au ust 2024 Children 1. Children's early years, experience will be individualised at Springboard to promote and develop communication and independence skills. 2. Springboard Ghildren will have a VOiGe that informs their education services. 3. Children with SEND in areas of high deprivation, who have multiple vulnerabilities, will be able to access springboard services. 4. We will collaborate with our partners locally and nationally to help improve inclusive practice for young children with SEND 5. We will help represent the voice of early years SEND provision as a voice of expertise at local and national levels Data headlines - % of children making one step of progress: Personal Social and Emotional Development results are up quite significantly to 83 % across the organization from 77 % last year C & L - staying the same just below our target of 70 % PD result have also increased from 71 % to 81 % this year The target for Communication and Language has yet to be fully met but improvements in the PSED results show the impact that Springboard sessions are having on children's ability to manage their emotions, self-regulate and build relationships. Using Development Matters Best Fit statements is problematic for evidencing the small steps of progress that children with SEND make. A new assessment framework for children with SEND has now been published by DfE and Springboard staff will be implementing the framework across bases this year. This means that smaller steps of progress can and will be identified which should support Springboard's aim of evidencing the impact of our services. Work with the DfE Covid Recovery programme and Bristol and Beyond Stronger Practice hub has influenced inclusive practice across North Somerset, Bristol, Somerset, BANES and South Glos. Springboard has hosted SEND immersion days, delivered training and completed outreach support work in mainstream settings. Families 1. Springboard systems will enable parents and wider family members to feel confident and supported to independently meet their children's needs at home 2. Springboard systems will enable families to feel confident to access community services, facilities and events 3. Springboard systems will enable families to develop strong, supportive peer relationships of year parental survey again highlights how valued Springboard is to parents and families of our children. Comments again highlight the impact that our staff have on parents, understanding of their child's needs. Comments include: We feel supported overall with understanding our child's needs Lots of support with everything from toilet training, speech and meltdowns . We understand our child better and know where to go for support . SPARCS course was fab Springboard has not only supported us o a childcare level but on an emotional level too. After so much heartache, it is so incredibly heartwarming to see our child enjoying the childcare setting and doing 'normal' toddler things Springboard has not only helped our child but also helped us as a family understand how to deal with situations with our child. Springboard staff helped us a lot by making us know how to work with our child. In our end of year survey, 75 % of families reported that meeting other parents and carers was one of the most important aspects of Springboard to them as a family. This is confirmed by parental comments such as: Meeting other parents and families has been really nice knowing you aren't the only person going through what you are. Meeting with other families who also have a disabled child has helped us I have enjoyed learning from the parent workshops and talking to other parents. End Workforce: Staff & Volunteers 1. We want staff to feel valued with strong job satisfaction 2. We want staff to feel confident in all areas of their roles and responsibilities 3. Springboard workforce conditions will reflect the additional responsibilities and stressors of working with young children with SEND and their families. Wellbeing Team is now in place with each base represented and our first wellbeing event was organized at the end of the summer term. Regular staff bulletins are shared, aimed at keeping staff updated about organizational improvements, staff structure and keeping staff updated about benefits, pay and conditions. 2a
Springboard Opportunity Group Report of the Trustees For the ear ended 31 Au ust 2024 Or anisational and Financial Sustainabilit 1. We will develop a predictable sustainable income base giving financial stability 2. We will regularly review our organizational structure to ensure effective management of services 3. Our Board of Trustees will represent the skillset needed for effective governance and lived experience The challenges faced by charities in 2024, such as rising living costs, inflation, and global uncertainties, continue to emphasize the importance of financial preparedness. While the COVID-19 pandemic highlighted the need for stable income sources, the current environment is also presenting significant pressures, with demand for services increasing and operational costs rising. Springboard's income streams have shown some positive growth, but there is still a reliance on a few key sources. The risk of losing any major income, like the Local Authority Top-up funding, reminds us of the need to actively diversify our income sources. Grants continue to be a substantial part of our income, consistently contributing 23_24 % , which highlights their critical role in maintaining our financial stability. Moving forward, we must continue to explore new income sources, such as increased traded income through digital resources and partnerships with businesses, while also strengthening our existing grant and contract income. A review of the staffing structure has led to changes for the coming year including additional hours for Family Practitioners and a review of our support team to clarify capacity for fundraising. The Trustee's delivered their overarching aim of having the skillset needed for effective governance and lived experience. The drive for continuous improvement shows that there is a gap in our collective skills set as there is no HR specialist, that we will endeavour to address next year. In September 2024 there are 6 Trustees, covering a range of skill sets, and at least 50 % of them have direct lived experience of SEND. Each Trustee has either a lead area or a linked setting which is reviewed at every Board meeting. The Trustees undertook major profile-raising activity to raise awareness amongst political and local government decision makers about the detrimental impact of the reduction in TUF funding in the middle of the academic year. 2b
Springboard Opportunity Group Report of the Trustees (continued) For the ear ended 31 Au ust 2024 continued Our Ability to Provide Public Benefit The Trustee-Directors and staff acknowledge the importance of working for the public benefit and achieve this in a number of ways. Our core activities focus on and are undertaken in the furtherance of our charitable purposes and for the public benefit. In determining the charitable objectives and planning the activities as set out in this report the Board has fully considered the Charity Commission's guidance on public benefit. The Charity relies on a mixture of local government funding, grants and donations and, to a lesser extent, on fees and charges to cover its operating costs. In setting the level of any fees and charges the Board gives careful consideration to the accessibility of the Charity's services. Overall, excluding depreciation of fixed assets, our expenditure increased by 11.1 % from £710,411 to £784,565. Largely pursuant to a g.8 % national living wage increase in April 2024, and further to a 9.7 % increaser in April 2023, which also fueled increases in wagelsalary differentials for higher grade workers, staff costs grew by £79,600 (13 % ) from £608,524 to £688,124. Some of the increases in costs are welcome in that they stem from our provision of services to addtional children, necessitating recruitment of extra staff and acquisition of more space and related backup facilities. Most obviously this applies to the first year of operation of our relatively new Mead Vale setting (see further below). In the face of inflationary pressures, and by judicious cost-cutting, other non-depreciation expenditures, were reduced by £5,446 (5.6 % ) from £101,887 to £96,441. Total expenditure, including depreciation charged of £20,945, grew by £74,611 (10.8 % ) from £730,899 to £805,510. 32
Springboard Opportunity Group Report of the Trustees (continued) For the ear ended 31 Au ust 2024 Our Ability to Provide Public Benefit (continued) Overall, this year our sterling staff supported by numerous generous funders aGhieved an operating surplus of £51,420 (last year £51,769). After deducting non~cash asset depreciation of £20,945, we turned in an overall surplus of £30,475. Our net current assets have increased from £276,132 to £325,755 - having deducted deferred grant-funder income carried forward as a temporary creditor of £47,073 (last year £120,157). According to the source:_ www.bbc.co.uk/news/c390kw/articles17vklyo: "North Somerset Council has launched a consultation into how it can overcome its "current financial emergency" and "The authority faces a £53m funding gap over the next three years and could effectively be declared bankrupt if savings are not found" We hope that the under-pressure Council will give maximum priority to the most vulnerable children in our community. However, in light of the possibility that they won't or can't, we must take steps to increase our funding from all other available sources, within a context of continuing inflationary pressures, global uncertainty, scarcities caused by the wars in Ukraine and Gaza, Trump's election as US president, competition between charities, and other destabilising forces. We therefore entreat our existing backers to continue providing their generous support. Our dedicated fundraisers shall make every reasonable effort possible to persuade new funders to come on board. The prospect of Springboard having to downsize or even cease its Ofsted-endorsed operations is unpalatable, as to do so would almost certainly negatively impact many children for many years to come. 3b
Springboard Opportunity Group Report of the Trustees (continued) For the ear ended 31 Au ust 2024 continued Our Non-Government Funders We are more than grateful to have received non-statutory grant funding from the following organisations this year. Quartet Community Foundation Quartet North Somerset Community Partnership Quartet Community Foundation Stoke Park Group Friends Fund Quartet Community Foundation Express Grant BBC Children in Need Garfield Weston Foundation Global's Make Some Noise Henry Smith Charity Barbara Ward Children's Foundation Portishead Nautical Trust The Sir Jules Thorn Charitable Trust The Medlock Charitable Trust North Somerset Joint Health and Wellbeing Strategy National Lottery Community Fund National Lottery Awards for All The Klng's Charitable Trust. Tesco Foyle Foundation Alliance Homes Grant Masonic Charitable Foundation Hays Travel Foundation Asda Bauer Radio Cash for Kids Bauer Radio Cash for Kids The Grace Trust The Michael Cornish Charitable Trust Ford Britain Trust Douglas Arter Foundation Trees of the David Leonard Laity Stoate Charitable Trust Our Donors and Supporters We are also grateful to our donors, in particular this year The Hunter Selection who donated £1,000 towards purchasing Christmas presents. Investment Objectives and Risk The Trustees, having regard to the liquidity requirements of operating the charity, have kept available funds in interest-bearing deposit accounts and seek to achieve acceptable rates on deposits. The Trustees are mindful of the £85,000 FSCS limit on compensation for banking failure, and have spread available funds accordingly across various banking institutions. Reserves Policy We take management of our reSoUrS very seriously- the Finance and Resources sub-group meets 6 times a year to review in detail income and expenditure, assets and liabilities, and reports back to the full Board. We have an extensive Financial Controls policy which includes our reserves policy. Our Charity needs reserves in order to meet various possible contingencies including: delays in receiving funding from a variety of funders, for whatever reason to act as a reserve in the case of lowering levels of funding to cover the cost of winding up some or all of our ServIS to make provision for possible staff redundancy to cover unanticipated future liabilities The Board has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the free reserves) held by the Charity should be at least 25 % of the annual budget, which equates to 3 months of the resources budgeted to be expended from general funds. At this level the Board feel that they would be able to continue the current activities of the Company in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed. If at any time the free reserves do not meet this target the Board will consider ways in which additional unrestricted funds can be raised. The Finance and Resources committee reviews the position of the reserves at least 6 times each year upon issue of monthly management accounts. At 31 August 2024 the charity had free reserveslunrestricted funds of £325,755 (2023 £276,132). The 2023-24 minimum target of 3 months budgeted general expenditure amounted to £201,099 (2022-23: £174,288). Based on our 2024-25 budget the minimum has been increased to £208,558. The trustees believe that this minimum level of free reserves is reasonable and may be truly needed over the coming years. Strategic Plan A new Strategic Plan is in place for the years 2023 to 2026 under the headings of: 1. Children 2. Families 3. Workforce 4. Organisation and financial sustainability
Report of the Trustees (continued) For the ear ended 31 Au ust 2024 continued Our Challenges and Risks 2024-25 To fully realise the potential of our new setting at Mead Vale to significantly expand our offer to children with autism. The risk of Local Authority budget cuts which could result in reduced allocations to Springboard. In the face of stiffer competition from other charities arising from more straitened national and local circumstances, to maintain and increase our ability to support services, and to expand our sources of grants and donations. Structure, Governance and Management The Charity is a company limited by guarantee and not having a share capital. It operates under the terms of its Memorandum and Articles of Association. The overall direction and management of the Charity lies with the Board of Trustee-Directors (the "Board"). The Board meets at least six times a year to set strategy, approve plans and review and monitor progress in achieving the targets set by the Board. The Board is ever mindful of the need to recruit appropriately experienced individuals to serve as trustees and to ensure continuity of appropriate specialist skills and services. New trustees are appointed for their relevant commercial or service delivery knowledge. New trustees are briefed by the current Chair of Trustees and the Chief Executive Officer on:_ their legal obligations under charity and company law, the Charity Commission's guidance, the company's Memorandum and Articles ofAssociation, the committee and decision-making processes, the business plan and recent financial performance of the charity, and any other relevant information. They also undertake tours of the charity when they meet staff and are introduced to the work of each setting and of the administration section. Staff salaries are reviewed annually and benchmarked against charities of a similar size and structure. Risk Management The Charity takes its risk management processes seriously. Risks are a fixed item on the agenda of each trustee committee and board meeting, and must be clearly identified by trustees and senior leaders to reflect risks of any nature (e.g. governance & management; child protection issues; operations; financial; environmental. and regulatory compliance). Risks are reviewed at every sub- group meeting, and reported to the Full Board who meet six times a year. Trustees, responsibilities in relation to the financial statements The charity trustees (who are also the directors of Springboard Opportunity Group for the purposes of company law) are responsible for preparing an annual report including financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company, and of incoming resources and application of resources (income and expenditure), of the charity for that period. In preparing the financial statements, the trustees are required to: prepare financial statements for each year which comply with suitable accounting policies. and apply them consistently; observe the methods and principles laid out in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material deDartures as disclosed and exDlained in the financial statements: prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to disclosure to our Independent Examiner In so far as the trustees are aware at the time of approving our trustees, annual report: we have complied with the requirements summarized in the preceding paragraphs; we have taken all steps that ought to have been taken in order to make ourselves aware of any relevant information needed by the charity's independent Examiner, and to ensure that the Examiner has been made aware of that information. This Narrative Report has been Approved by the Trustees on: and signed on their behalf by Jenie Eastman - Chair Date:
Springboard Opportunity Group Reference and administrative details For the ear ended 31 Au ust 2024 Company number 2844191 Charity number 1025787 Registered office and principal operational address 2a Princes Road Clevedon North Somerset BS217SZ Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Jenie Eastman - Chair Peter O'Dufy - Treasurer Diane Scarborough Elizabeth Manning - appointed 20th May 2024 Anthony Keyworth Danielle Vincent Chris Roberts - resigned 25 March 2024 Simon Vincent - resigned on 2 July 2024 The Trustees of the charity are also directors of the company for the purposes of the Companies Act 2006. Executive officers at 31 August 2024 Ruth Glover Principal bankers CAF Bank Ltd Independent Examiner Stephen Burnside FCA Burnside Chartered Accountants 61 Queen Square Bristol BS14JZ
EXAMINER'S REPORT To the members of rin board O ortuni Grou I report to the charity trustees on my examination of the accounts of Springboard Opportunity Group for the year ended 31 August 2024 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 AGt 2011 ('the 2011 Act,). In carying 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 the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because l 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 that: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act or the accounts do not accord with those records; or 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 epared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of the accounts have not been reporting (applicable to char Ireland (FRS 102) ) Signature: Name: Relevant professional body: Address: Stephen Burnside FCA Institute of Chartered Accountants in England and Wales Burnside Chartered Accountants, 61 Queens Square, Bristol BS14JZ Date: 4*1)
Springboard Opportunity Group Statement of Financial Activities (incorporating an income and expenditure account) For the ear ended 31 Au ust 2024 2024 Total 2023 Total Note Restricted Unrestricted Income from: Donations, fundraising events and grants Charitable activities Trading activities Interest 186,599 63,159 576,560 4,597 5,070 249,758 576,560 4,597 5,070 250,780 481,076 27,753 2,570 Total income 186,599 649,386 835,985 762,180 Expenditure on: Raising funds Charitable activities 1,132 603,274 1,132 804,378 9,163 721,736 201,104 Total expenditure 201,104 604,406 805,510 730,899 Net income l (expenditure) (14,505) 44,980 30,475 31,281 Transfers between funds (1,796) 1,796 Other recognised gainsl(losses): Net movement in funds (16,301) 46,776 30,475 31,281 ReconGiliation of funds: Total funds brought forward 184,390 276,131 460,522 429,241 Total funds carried forward 16 168,089 322,907 490,996 460,522 All of the above results are derived from continuing activities. There were no recognised gains or losses other than those stated above. Detailed movements in some funds received are disclosed in Note 16 to the accounts.
Springboard Opportunity Group Balance Sheet Asat31Au ust 2024 Note 2024 2023 Fixed assets Tangible assets Current assets Debtors and Prepayments Cash at bank and in hand 10 165,241 184,390 11 8,798 424,690 433,489 5,711 439,380 445,090 Liabilities Creditors: amounts falling due within 1 year 12 (107,734) (168,958) Net current assets 325,755 276,132 Net assets 490 996 460 522 The funds of the charity: Restricted funds Unrestricted funds Total charity funds 168,089 322,907 490 996 184,390 276,132 460 522 16 The Trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act. The Trustees acknowledge their responsibilities for: ensuring that the company keeps adequate accounting records which comply with section 386 of the AGt, and (i) (li) 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 surplus or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Approved by the Trustees on: OS. os. Loks and signed on their behalf by Jenie Eastman - Chair Springboard Opportunity Group Company Number 02844191
Springboard Opportunity Group Cash Flow Statement For the ear ended 31 Au ust 2024 Reconciliation of net incomel ex enditure to net cash flow from o eratin activities 2024 2023 Net incomel(expenditure) for the reporting period (as per the statement of financial activities) 30,475 31,281 Adjustments for." Additions less Depreciation charges (Increase)/decrease in debtors Increase/(decrease) in creditors) 19,149 (3,087) (61,225) 14 689 20,488 8,744 63,411 123 925 Cash used in operating activities (14,689) 123,925 Tax Paid Cash flows from investing activities." Proceeds from the sale of fixed assets Increase/(decrease) in cash and cash equivalents (14,689) 123,925 Cash and cash equivalents at beginning of year 439,380 315,454 Cash and cash equivalents at end of year 424 691 439 380 10
Springboard Opportunity Group Notes to the Financial Statements For the ear ended 31 Au ust 2024 1. Accounting policies a) Accounting convention The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R¢publiG of Ireland (FRS 102) (effeGtive with later amendments from l January 201 g) - (Charitieg SORP (FRS 102)). 2nd thÉ Comp2niog Act 2006. Springboard Opportunity Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). b) Preparation of the accounts on a going concern basis The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material known uncertainties about the charity's ability to continue as a going concern. c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Income from grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made; or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executoffs intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have been met, then the legacy is treated as a contingent asset and disclosed if material. d) Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable, and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised as expenditure in the period of receipt. e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank. n Funds accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. Donations required to be retained as capital in accordance with the donor's wishes are accounted for as endowments - permanent or expendable according to the nature of the restriction. Endowments and the subsequent increases and decreases in value are shown in the Statement of Financial Activities as part of those capital funds. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. h) Allocation of support and governance costs Expenditure is allocated to particular activities where the cost relates directly to that activity. However, the costs of overall direction and administration of each activity, comprising the governance and support costs of the charity, are apportioned on the following basis which is an estimate, by reference to staff costs, of the amount attributable to each activity: Cost of raising funds Charitable activities 11
Springboard Opportunity Group Notes to the Financial Statements (continued) For the ear ended 31 Au ust 2024 1. Accounting policies (continued) i) Tangible fixed assets Leasehold land and buildings are included at fair value at the date of valuation less any subsequent accumulated depreciation. The charity revalues land and buildings every 5 years. The most rent valuations were carried out as at 7 June 2022. Other fixed assets are included at cost plus any incidental costs of acquisition, less any subsequent accumulated depreciation. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Leasehold Buildings (spread over the remaining term of the lease) 9.76 % per annum straight line Fixtures and Fittings 25 % per annum straight line Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the time. use of the related assets in those activities. i) Debtors Trade and other debtors are recognised at the settlement amount due after deduction of any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. k) Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. l) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. m) Pension costs The charity contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fvnd. The charitable company has no liability under the scheme other than for the payment of those contributions. The contributions made for the accounting period are treated as an expense and were £10,317 (2023 - £8,721). n) Operating leases Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities on a straight line basis over the minimum lease term. 12
Springboard Opportunity Group Notes to the Financial Statements (continued) For the ear ended 31 Au ust 2024 2. Prior year comparatives 2023 2023 Restricted Unrestricted 2023 Total Income from: Donations and Grants Charitable activities Fundraising events and other trading activities Interest Earned 166,491 84,289 481,076 27,753 2,572 250,780 481,076 27,753 2,572 Total income 166,491 595,690 762,181 Expenditure on: Raising Funds Charitable Activities (9,163) 533,357) 9,163 721,736 188,379 Total expenditure (188,379) 542,519) 730,900 Net income l (expenditure) 21,888) 53,171 31,281 3. Donations and Fundraising Events and Grants 2024 Total 2023 Total Restricted Unrestricted Donations and Fundraising Events Restricted Donation from The Hunter Selection 1,000 50,159 51,159 94,289 Grants: Quartet Community Foundation Quartet North Somerset Community Partnership Quartet Community Foundation Stoke Park Group Friends Fund Quartet Community Foundation Express Grant BBC Children in Need Garfield Weston Foundation Sobell Foundation Global's Make Some Noise Henry Smith Charity The Dame Violet Wills Will Trust Barbara Ward Children's Foundation Bally Thomas Charitable Fund Portishead Nautical Trust Elizabeth & Prince Zaiger Charitable Trust The Sir Jules Thorn Charitable Trust The Medlock Charitable Trust The Medlock Charitable Trust North Somerset Community Health re Mental Health North Somerset Joint Health and Wellbeing Strategy National Lottery Community Fund National Lottery Awards for All The Klng's Charitable Trust. The Keeble Charitable Trust Tesco Foyle Foundation Alliance Homes Grant Masonic Charitable foundation Hays Travel Foundation Asda Bauer Radio Cash for Kids The Grace Trust The MiGhael Cornish Charitable Trust Ford Britain Trust Douglas Arter Foundation Trees of the David Leonard Laity Stoate Charitable Trust Bentley Grant for Glo and Go The Forrester Family Trust The James Tudor Foundation Percy Bilton Charity bclear Hobson Charity Children in Need Cost of Living Bonus Society of Merchant Venturers Boshier Hinton Foundation Burges Salmon Trust Skipton Building Society 833 15,960 325 3,920 23,604 22,917 833 15,960 325 3,920 23,604 22,917 4,167 8,703 2,083 5,000 3,305 52,750 2,917 5,000 1.333 1,799 3,000 3,000 1,500 1,652 8,833 1,652 8,833 3,750 5,000 3,750 5,000 1,621 1,621 5,000 1.250 500 2,250 5,000 1,250 500 2,250 2,903 4,250 12,750 44,367 5,167 2.292 12.750 44,367 5,167 2,292 2,000 5,000 1,667 4,375 14,583 1,750 354 2,080 1,700 1,000 400 500 500 525 174 2,000 2,000 1,000 18,333 3,125 10,417 1,750 5,000 1,667 4,375 14,583 1,750 354 2,080 1,700 1,000 400 500 500 525 174 2,083 3,989 476 800 2,005 500 5,000 2,000 200 1,104 Total donations 2nd grants 186 599 63 159 249 758 250 780 13
Springboard Opportunity Group Notes to the financial statements (continued) For the ear ended 31 Au ust 2024 2024 Restricted 2024 Unrestricted 2024 Total 2023 Total 4. Income from charitable and related activities Income from statutory bodies for play and education Subscriptions, session fees and membership fees Training Provided to Clients Inclusion income 512,397 16,879 46,134 1,150 512,397 16,879 46,134 1,150 358,931 19,825 47,944 54,376 576,560 576,560 481,076 5. Other Income Fundraising Activities and Events 4,597 4,597 27,753 4,597 4,597 27,753 6. Total expenditure Developt. & education services Support & governance costs Raising funds 2024 Total 2023 Total Direct fundraising costs 1,132 1,132 9,163 Charitable activities Staff costs (note 8) Costs of development, education and administration Property costs Office costs Examiner, Ofsted, legal and professional costs Depreciation 688,124 688,124 608,524 21,323 46,470 23,244 21,323 46,470 23,244 4,272 20,945 804,378 18,325 43,779 27,010 3,610 20,488 721,736 4,272 20,945 800,106 4,272 Total expenditure 1132 800 106 4272 805 510 730 899 Funded From Restricted Pool Funded From Unrestricted Pool 2024 Total 2,023 Total Direct fundraising costs 1,132 1,132 9,163 Staff costs (note 8) Direct costs of development and education Property costs Office costs Examiner, Ofsted, legal and professional costs Depreciation 175,788 512,336 688,124 608,524 3,238 18,085 46,470 21,662 4,272 449 603,274 21,323 46,470 23,244 4,272 20,945 804,378 18,325 43,779 27,010 3,610 20,488 721,736 1,582 20,496 201,104 Total Expenditure 201104 604 406 805 510 730 899 14
Springboard Opportunity Group Notes to the financial statements (continued) For the ear ended 31 Au ust 2024 7. Net movement in funds This is stated after charging: 2024 2023 Depreciation Examiner, Legal and Ofsted Fees 20,945 4272 20,488 2448 8. Staff costs and numbers Staff costs were as follows: 2024 2023 Salaries and wages Social security costs Auto-enrolment pension costs Recruitment costs DBS checks Staff expenses and travel Staff training 631,707 34,027 10,317 554,415 28,037 8,721 140 1,378 10,050 5,783 1,010 5,786 5,277 688 124 608 524 No employee received emoluments over £60,000 during the 2024 year (2023: None). No remuneration was paid to the Trustees. Trustees, expenses reimbursed amounted to £0 (2023 - £105). The key management personnel of the charity comprise the Chief Executive Officer and six managers. The total employee benefits of the key management personnel of the charity were £184,006 (2023 - £152,822). 2024 No. 2023 No. Average staff head count 50 42 9. Taxation 2024 2023 Corporation tax 15
Springboard Opportunity Group Notes to the financial statements (continued) For the ear ended 31 Au ust 2024 10. Tangible fixed assets Leasehold buildings Fixtures & fittings Total Cost or valuation At 1 September 2023 Additions Disposals At 31 August 2024 210,000 44,620 1,796 254,620 1,796 210,000 46,416 256,416 Depreciation At 1 September 2023 Depreciation Charge for the year Disposals 25,610 20,496 44,620 449 70,230 20,945 At 31 August 2024 46,106 45,069 91,175 Net book value At 31 August 2024 163 894 1347 165 241 At 31 August 2023 184 390 184 390 11. Debtors 2024 2023 Trade debtors Prepayments 1,904 6,894 390 5,321 8798 5711 12. Creditors . amounts due within 1 year 2024 2023 Trade creditors Payroll deductions and pension contributions Accruals Deferred Income 474 10,328 49,860 47 073 4,727 10,077 33,998 120,157 107 734 168 959 16
Springboard Opportunity Group Notes to the financial statements (continued) For the ear ended 31 Au ust 2024 13. Deferred income 2024 2023 Balance as at 1 September 2023 Amount released to income Amount deferred in year 120,157 (120,157) 47,073 64,251 (64,251) 120,157 Balance as at 31 August 2024 47 073 120 157 14. Operating leases 2024 2023 The total future minimum lease payments under non-cancellable operating leases are as follows: Not later than one year Later than one year and not later than five years Later than five years 1,358 2,956 1,202 2,324 184 4314 3710 15. Year End Analysis of net assets between funds Restricted Unrestricted funds funds Total funds Tangible fixed assets Cash at bank and in hand Other net current assetsl(liabilities) 163,894 4,195 1,347 424,690 98,935 165,241 428,885 98,935) Net assets at 31 August 2024 168 089 327 102 495 191 17
Springboard Opportunity Group Notes to the financial statements (continued) ear ended 31 Au -FortheL_-- ust 2024 16 Total Funds Movements Balance at 1 September 2023 Balance at 31 August 2024 Income Expenditure Transfers Donations Restricted Donation from The Hunter Selection 1,000 (160) 620 Restricted Grant Funds: Quartet Community Foundation Quartet North Somerset Community Partnership Quartet Community Foundation Stoke Park Group Friends Quartet Community Foundation Express Grant BBC Children in Need Garfield Weston Foundation Global's Make Some Noise Henry Smith Charity Barbara Ward Children's Foundation Portishead Nautical Trust The Sir Jules Thorn Charitable Trust The Medlock Charitable Trust North Somerset Joint Health and Wellbeing Strategy National Lottery Community Fund National Lottery Awards for All The King's Charitable Trust. Tesco Foyle Foundation Alliance Homes Grant Masonic Charitable Foundation Hays Travel Foundation Asda Bauer Radio Cash for Kids The Grace Trust The Michael Cornish Charitable Trust Ford Britain Trust Douglas Arter Foundation Trees of the David Leonard Laity Stoate Charitable Trust Bentley Grant for Glo and Go 833 15,960 325 3,920 23,604 22,917 1,652 8,833 5,000 1,621 1,250 500 12,750 44,367 5,167 2,292 5,000 1,667 4,375 14,583 1,750 354 2,080 1,700 1,000 400 500 500 525 174 (833) (15,960) 325 (3,920) (23,604) (22,917) (1,652) (8,833) (5,000) (1,621) (1,250) (500) (12,750) (44,367) (5,167) (2,292) (1,939) (1,667) (4,375) (14,583) (1,750) (354) (2,080) (589) (1,000) (400) (1,796) 1,265 1,111 500 (500) (525) 174 Totals 186,599 180,608) 1,796) 4,195 Fixed asset restricted fund: Weston Building less depreciation Clevedon Building less depreciation 48,292 136,098 (5,368) (15,128) 42,924 120,970 Totsls 184,390 20,496 163.894 Unrestricted Funds General Fund 276,131 649,386 (604,406 1,796 322,907 Total funds 460,521 835,985 805,510 490,996 18
Springboard Opportunity Group Notes to the financial statements (continued) For the ear ended 31 Au ust 2024 17 Purposes of restricted donation and grants funds The Hunter Selection Quartet Community Foundation Quartet North Somerset Community Partnership Quartet Community Foundation Stoke Park Group Friends Fund Quartet Community Foundation Express Grant BBC Children in Need Garfield Weston Foundation Global's Make Some Noise Henry Smith Charity Barbara Ward Children's Foundation Portishead Nautical Trust The Sir Jules Thorn Charitable Trust The Medlock Charitable Trust North Somerset Joint Health and Wellbeing Strategy National Lottery Community Fund National Lottery Awards for All The King's Charitable Trust. Tesco Foyle Foundation Alliance Homes Grant Masonic Charitable Foundation Hays Travel Foundation Asda Bauer Radio Cash for Kids Bauer Radio Cash for Kids The Grace Trust The Michael Cornish Charitable Trust Ford Britain Trust Douglas Arter Foundation Trees of the David Leonard Laity Stoate Charitable Trust Christmas Presents Mead Vale Equipment Family Practitioner Subsidized Makaton 1 and 2 Summer Playscheme Staffing (SEYP and EYP) Running Costs Support Grant Writing Core Costs Core Costs SPARCS - supporting families with SEND Core costs for Mead Vale Core costs for Mead Vale Playscheme Staffing for Mead Vale Senior Practitioner for a year at SW Family Practitioner for a year at SW IT for Weston Core costs Mead Vale Early Years Practitioner Mead Vale Running Costs for Attention Autism Training Healthy snacks for 1 year For 1 member of staff S&P at each centre Stay and Play (6 months) Amazon Fire tablets Mentoring Costs ipad for Playroom Climbing set South Weston Running Costs Towards a climbing frame 18 Related party transactions The trustees of the charity are not aware of any related party transactions in the reporting period. 19