2020-08-31-accounts

Charity registration number: 1027771

Blandford Opportunity Group

Annual Report and Financial Statements for the Year Ended 31 August 2020

Blandford Opportunity Group

Contents

Reference and Administrative Details	1
Trustees' Report	2 to 3
Statement of Trustees' Responsibilities	4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 to 14

Blandford Opportunity Group

Reference and Administrative Details Trustees C R Stevens (Chair) Mrs S E Kevern Mrs N Roper (Secretary) S Hitchings R B Henley Principal Office Williams Opportunity Hall White Cliff Gardens Blandford Forum Dorset DT11 7BU Charity Registration Number 1027771 Bankers HSBC Plc 17 Market Place Blandford Forum Dorset DT11 7AG Auditor Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street Bridport Dorset DT6 3LB

Page 1

Blandford Opportunity Group

Trustees' Report

The Trustees present their report and the financial statements for the year ended 31 August 2020 The Trustees who served during the year and up to the date of this report are set out on Page 1.

Structure, governance and management

The activities of the Charity are monitored by the Trustees who all act in a voluntary capacity. The Trustees follow the principles of governance and control advocated by the Charity Commission. Formal meetings and discussions are held on a regular basis.

Objectives and activities

Activities

Blandford Opportunity Group is a pre-school playgroup for all babies and children (0-5 years) with special needs and disabilities. We opened in January 1992 and are recognised in the local area for the excellent service we provide for the children, their parents and carers. We support all children, some on a one-to-one basis, with highly trained staff who are able to work with children with complex needs. We provide nine sessions each week (term time only). By encouragement and support we build on the confidence of each child to achieve their own individual goals within a happy and relaxed atmosphere.

In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee charging.

Results

The incoming resources for the year amounted to £119,835 (2019 - £110,322) all of which will be used in providing care including maintaining the Group premises.

Strategy

The Group seeks to raise funds to provide day care for all pre-school children specialising in children with special needs and disabilities.

Donations

The Trustees have divided the donations to the Group into Restricted and Unrestricted Funds. Restricted Funds are donations that have a single purpose use; as requested by the individual donors to the Group or by the Trustees in writing for projects (eg wages, building renovation, equipment). These donations can only be spent on the requested use but can be carried forward into the next financial year if the project has not been completed. Unrestricted Funds are to be used for any purpose covered by the Group's strategy as set out above. The Trustees may use these funds without limitations and may transfer money from the Restricted Funds or to Reserves as and when necessary.

Reserves Policy

Funds are held to meet the projected costs of the Group for a period of six to nine months, together with the costs of winding up the Group. The actual amount of the provision is reviewed each Committee Meeting in light of existing circumstances. The degree of uncertainty over public funding, and a reduction in private funding available, reflecting the current economic situation, means the excess of funds over those required by the Policy will be allowed to carry forward and for the time being is not considered excessive.

Page 2

Blandford Opportunity Group

Trustees' Report

Investment Policy

The Charity funds activities on a regular basis and, as such, is not involved with investment activities. Reserves are invested in interest bearing accounts to provide maximum income but with short term access.

Risk Review

The Trustees have conducted their own review of the major risks to which the Charity is exposed and systems have been established to mitigate these risks. These procedures are reviewed annually to ensure they still meet the needs of the Charity.

The Present

The development of a room within the main hall to provide space for young children, continues to be furnished with new play and learning equipment. This has now better enabled the Group to take children from 0 to 5 years of age, thereby providing our community with much needed extra capacity.

The Future

Having obtained a secure base for the Group we are now continuing to apply for grants to improve the facilities but more importantly to obtain core funding to help cover the ever-increasing running costs.

The group have recently entered into a contract to rent a small piece of land at the rear of their current garden. This will be leased for 5 years from the Constitutional Club. The land will be renovated and new fencing will be erected so that the children are able to use the new, larger, enhanced outside space.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles 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 departures disclosed and explained in the financial statements; and

• prepare the financial statements on the 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 which 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 3

Blandford Opportunity Group

Statement of Trustees' Responsibilities

Approved by the trustees of the charity on 18 November 2020 and signed on its behalf by:

C R Stevens (Chair) Trustee

Page 4

Blandford Opportunity Group

Independent Examiner's Report to the trustees of Blandford Opportunity Group

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2020 which are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement

4. 1. that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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.

Mr M J Cridland B.A. (Hons) F.C.A. Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street Bridport Dorset DT6 3LB

18 November 2020

Page 5

Blandford Opportunity Group

Statement of Financial Activities for the Year Ended 31 August 2020

		Unrestricted		Total
		funds		2020
	Note	£		£
Incoming resources
Donations and grants		114,391		114,391
Other income		137		137
Investment income	3	130		130
Parental payments		5,177		5,177
Total Income		119,835		119,835
Expenditure on:
Wages and direct costs		(96,220)		(96,220)
Charitable activities		(11,860)		(11,860)
Total Expenditure		(108,080)		(108,080)
Net movement in funds		11,755		11,755
Reconciliation of funds
Total funds brought forward		144,240		144,240
Total funds carried forward	13	155,995		155,995
		Unrestricted		Total
		funds		2019
	Note	£		£
Incoming resources
Donations and grants		104,177		104,177
Other income		482		482
Investment income	3	142		142
Parental payments		5,521		5,521
Total Income		110,322		110,322
Expenditure on:
Wages and direct costs		(75,351)		(75,351)
Charitable activities		(14,935)		(14,935)
Total Expenditure		(90,286)		(90,286)
Net movement in funds		20,036		20,036
Reconciliation of funds
Total funds brought forward		124,204		124,204
Total funds carried forward	13	144,240		144,240

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 13.

Page 6

Blandford Opportunity Group

(Registration number: 1027771) Balance Sheet as at 31 August 2020

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	10	86,741		87,366
Current assets
Cash at bank and in hand		107,078		94,386
Creditors: Amounts falling due within one year	11	(1,824)		(1,512)
Net current assets		105,254		92,874
Total assets less current liabilities		191,995		180,240
Creditors: Amounts falling due after more than one year	12	(36,000)		(36,000)
Net assets		155,995		144,240
Funds of the charity:
Unrestricted income funds
Unrestricted funds		155,995		144,240
Total funds	13	155,995		144,240

The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on 18 November 2020 and signed on their behalf by:

C R Stevens (Chair) Trustee

Page 7

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Blandford 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 notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Investment income

Interest is recognised once it has been credited to the bank account.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Page 8

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Fixtures, fittings and equipment

Depreciation method and rate 25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 9

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

2 Income from donations and legacies

		Unrestricted
		funds
				Total		Total
		General		2020		2019
		£		£		£
Donations and grants
	Other donations	741		741		2,190
	Donations over £250.00	28,695		28,695		36,837
Grants, including capital grants;
	Government grants	20,905		20,905		-
	Grants from Dorset County Council	64,050		64,050		65,150
		114,391		114,391		104,177
3	Investment income
		Unrestricted
		funds
				Total		Total
		General		2020		2019
		£		£		£
Interest receivable and similar income;
	Interest receivable on bank deposits	130		130		142

Page 10

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

4 Other income

Parental payments

Unrestricted
funds
		Total		Total
General		2020		2019
£		£		£
5,177		5,177		5,521

Page 11

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

5 Analysis of governance and support costs

Governance costs

	Unrestricted
	funds
			Total		Total
	General		2020		2019
	£		£		£
Accountants fees
Fees paid to accountants	720		720		720
Depreciation, amortisation and other similar costs	1,845		1,845		2,327
Other governance costs	9,295		9,295		11,888
	11,860		11,860		14,935

6 Net incoming/outgoing resources

Net incoming resources for the year include:

Net incoming resources for the year include:
	2020		2019
	£		£
Depreciation of fixed assets	1,845		2,327

7 Trustees remuneration and expenses

During the year Mrs S E Kevern and Mrs N Roper acted as Trustee's for the Charity on a voluntary basis, however they also acted as manager and administrator respectively for which they received a combined gross salary of £29,555 (2019 £27,180) for the duties undertaken for the Group.

8 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
	2020		2019
	£		£
Staff costs during the year were:
Wages and salaries	93,322		73,035

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

the year expressed as full time equivalents was as follows:
	2020			2019
	No			No
Staff numbers		11			11

No employee received emoluments of more than £60,000 during the year

Page 12

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Tangible fixed assets

10 Tangible fixed assets
	Land and			Furniture and
	buildings			equipment			Total
	£			£			£
Cost
At 1 September 2019	84,969			22,365			107,334
Additions	-			1,220			1,220
At 31 August 2020	84,969			23,585			108,554
Depreciation
At 1 September 2019	-			19,968			19,968
Charge for the year	-			1,845			1,845
At 31 August 2020	-			21,813			21,813
Net book value
At 31 August 2020	84,969			1,772			86,741
At 31 August 2019	84,969			2,397			87,366
11 Creditors: amounts falling due within one year
				2020			2019
				£			£
Other creditors				1,824			1,512
12 Creditors: amounts falling due after one year
				2020			2019
				£			£
Other loans				36,000			36,000

Page 13

Blandford Opportunity Group

Notes to the Financial Statements for the Year Ended 31 August 2020

13 Funds

13 Funds
	Balance at 1
	September		Incoming		Resources		Balance at 31
	2019		resources		expended		August 2020
	£		£		£		£
Unrestricted funds
General	(144,240)		(119,835)		108,080		(155,995)

14 Analysis of net assets between funds

14 Analysis of net assets between funds
	Unrestricted
	funds
	General		Total funds
	£		£
Tangible fixed assets	86,741		86,741
Current assets	107,078		107,078
Current liabilities	(1,824)		(1,824)
Creditors over 1 year	(36,000)		(36,000)
Total net assets	155,995		155,995

15 Analysis of net funds

15 Analysis of net funds
	At	1	September		At	31 August
			2019	Cash flow		2020
			£	£		£
Cash at bank and in hand			94,386	12,692		107,078
			94,386	12,692		107,078

Page 14