Charity Registration No. 1027771 BLANDFORD OPPORTUNITY GROUP TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
BiANDFORD COPPORTUNITYGROUP CONTENTS Page Charity information Trustees, Report 2to3 Independent Examinels Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7t0 12
BLANDFORD OPPORTUNITYGROUP CHARifi INFORMATION Trustees: C R Stevens Ichairl N Roper S E Cripps S Hitchings R B Henley (resigned 31 August 2023) G Smith lappointed I September 20231 Principal Office: WiS1iams Opportunity Hall White Cliff Gardens Blandford Forum Dorset DTII 7AG Charity registration number: 1027771 Independent examiner.. Marcus Cridland B.A.IHonsl F.C.A. Scott Vevers Ltd Chartered Accountants and Registefed Auditors 65 East Street Bridport Dorset DT6 3LB Bankers.. HSBC Bank PIC 17 Market Pla Blandford Forum Dorset DTII 7AG
BLANDFORD OPPORTUNITY GROUP TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees present thelr report and the financial statements for the year ended 31 August 2023. The Trustees who Served during the year and up to the date of this report are set out on page l. Objective5 and activities Blandford Opportunity Group is a pre-school playgroup for all babies and children10-5 years) with special need5 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 ba5iS, Wlth 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 goa15 Wlthin a happy and relaxed atmosphere. In setting our objectives and planning our activitie5, the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particularto its supplementary public benefit guidance on advancing education and on fee charging. Achlevements and performance During the summer holidays of 2023 the inside of the hall was reconfigured to allow separate rooms for each age group as required by Ofsted. This included new play and activity equipment. With the extra space it was agreed that we could accept children without special needs. This being a larger ratio of chIldn to staff meant that It helped subsidise the children that need one to one care. Financial review Results The incoming resources for the year amounted to £139,96912022: £222.1581 all of which will be used in providing care including maintaining the Group premises. The net deficit of fLbnds for the year were £24,977 12022: surplus of £89,828). The reserves at the year end were £237,62012022: £262.5971, which consisted entirely of unrestricted funds. Strotegy The Group seeks to raise funds to provide day care for all pre-school children specialising in children with special needs and disabilities. Reserves Policy Funds are held to meet the projected cost5 of the Group for a period of 51X 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 eKlSting clrcumstances. 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. Investment Policy The Charity funds activities on a regular basis and, a5 Such, is not involved with investment activities. Resejves are invested in interest bearing accounts to provide maximum income but with short term access. Risk Review The Trustees have condurted thelr own revlew 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 Having reconflgured the building and enlarging the group, we hope that the ratio of children to staff will sustain our growth a5 we are finding it difficult to obtain grants at the present time.
BLANDFORD OPPORTUNITY GROUP TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Future Now that we have a substantial legac¥ invested, we can look to a more secure future. We have an arrangement wlth Bournemouth Unlversity to provide work experience for student5 as part of their courses. which is working really well. With the 31terations to the building, we can now provide extra capacity for children from surrounding towns and villages. Structurei govemance and management The activitie5 of the Charity are monitored by the Trustees who all act In a voluntary capacity. The Trustees follow the principle5 of governance and control advocated by the Charity Commi55ion. Newly appointed Trustee5 are provided with an induction to the charity through provision of training colsrses and mentorlng by established T¥ustees. Formal meetings and discussions are held on a regular basis. Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustee5' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generallv Accepled Accounting Prarticel. Law applicable to charitie5 in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of charily 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 consistentlyi 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 wnaterial departures disc105ed and explained in the financial statements.. and prepare the financial Statements on the going eoncern basis unle5S It 15 inappropriate to presume that the charity will continue in operation. TheTrustees are responsible for keeping properaccounting 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 Charitles 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 5tep5 for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charity on /& -.?.-.Abnd signed on its behalf by: C R Stevens (Chairl Trustee
BLINDFORD OPPORTUNITY GROUP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2023 which are set out on pa8e5 5 to 12. Responsibilities and basi5 of report A5 the charity's trustees you are responsible for the preparatlon of the accounts In accordance wlth the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charltvs accounts carried out under section 145 of the Art and in carrying out my examination I have followed all the applicable Direction5 given by the Charity Commission under section 14515llbl of the Act. Independent eKaminerfs statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- Accounting records were not kept in respect of the Trust as reqUId by section 130 of the Act: or The accounts do not accord wlth those records: or The accounts do not comply with the applicable requirernents concerning the form and content of accounts Set out in the Charitie5 (Accoun15 and Report51 Regulations 2008 other than any requirement that the account5 give 3 'true and fair vieW which is not a matter considered as part of an independent examination. I have no concerns and have come acros5 no other matters in connection with the examlnation 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 BA (Honsl FCA Scott Vevers Ltd Chartered Accountants and Reglstered Auditors 65 East street Bridport Dorset DT6 3LB Date..
8LANDFORD OPPORTUNITY GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2023 2023 Total 2022 Total funds Unrestritted funds funds Notes INCOME Income and endowments from.. Donations and grants Other income including trading income 132,388 132,388 219,777 3.081 3,081 2,347 Investment income 4,500 4,500 34 Total incoming resource5 139,969 139.969 222,158 EXPENDITURE ON: Charitable activities 164,946 164,946 132,330 Total expenditure 164,946 164,946 132,330 Net Movemert in Fund5 for the year 124,9771 124,9771 89,828 Total Funds.. Brought Forward li 262,597 262,597 172,769 Carried Forward li 237,620 237,620 262,597 All Incoming resources and resources expended derlve from continulng attlvitles. The note5 on pages 7 to 12 form an integral part of these financial statements.
BLANDFORO OPPORTUNTfY GROUP BALANCE SHEET AT 31 AUGUST 2023 2023 2022 Notes Fixed Assets Tangible assets 87,463 89.309 Current assets Cash at bank and in hand 189.109 189,109 210.742 210,742 Creditors: Amounts falling due within one year io 138,9521 137,4541 Net current a4ets 150,157 173,288 Net a55ets 237,620 262,597 The funds of the charlty: Unrestricted funds li 237,620 262,597 Total charity funds 237,620 262.597 The financial statements were approved by the Board of Trustees on /6- by: and slgned on its behalf C R Stevens Chair The notes on page$ 7 to 12 form an integral part of these financi31 statements.
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparatlon of the financSal statements are as follows.. a. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Ch3ritie5: Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 (Charity SORP IFRS 10211, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. b. Basis of preparation Blandford Opportunity Group meets the definition of a public benefit entity under FR5 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated In the relevant accounting policy notes. c. Accounting convention The financial statements have been prepared on a going concern basis a5 the trustees belleve that no material uncertainties exist. The trustees have considered the level of fund5 held and the expected level of Income and expenditure for 12 months from authori5ing these financial statement5. d. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of nature is recogni5ed 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 tynd legocies 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 conditior15 linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is Cognised as a liability and included on the balance sheet as deferred Income to be released. Investment Income Interest is recognised once it has been cdited to the bank account. e. Classification of expenditure All expenditure is recognised once there Is a legal or constructlve obligation to that expenditure, it is probable settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar cost5 to that category. Where costs cannot be directly attributed to particular he3ding5 they have been allocated on a basis consistent with the use of resources, with central stsff cost allocated on the basis of time spent, and depreciation charges allocated on the portlon of the asset's use. Other support costs are allocated based on the spread of Staff cost5. Choritable octivities Charitable expenditure tomprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both cost5 that can be allocated directly to such activities and those cost5 of an indirect nature necessary to support them. Governance costs These include the costs attributsble to the charity's compliance with constitutional and statutory requirements, includin8 audit, Strategic management and trustees meetings and reimbursed expenses.
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policie5 {continuedl f. Taxation The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meet5 the definition of a charitable company for UK corporation tax purpose5. According1vi the charity is potentially exempt from taxation in respect of income or capital gain5 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 purpose5. g. Tanglble fixed assets Tangible fixed assets Costing more than £100 are capitalised at cost. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life. as follows.. Fixtures. fitting5 and h. Cash and ¢ash 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. Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised costs, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recogni5ed 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 Sncome funds are general funds that are avallable for use at the trustees, dlscretlon In furtherance of the objectives of the charity. k. Pensions The charity operates a defined contribution penslon scheme which Is a pension plan under whlch fixed contributlons are pald Into a pension fund and the charity has no legal of construetive obligation to pav further contribtjtions even if the fund Iloes not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rule5 of the scheme. 25% straight line basis
BLANDFORO OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies {continued) i. rinincial instruments CIos5ifi¢otion Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual airangement entered into. An equity instrument 15 any contract that evidences a residual interest in the assets of the charity after deducting all of it5 liabilities. Recognition ond measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transactlons. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for similar debt instruments. Financial asset5 and liabilitie5 are only offset in the statement of financial position when, and only when there exist5 a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecogni5ed when and only when al the contractual rights to the cash flows from the financial a55et expire or are settled, bl the ch8rity transfers to another party substantially all of the ri5k5 and reward5 of ownership of the financial asset, oi cl the charity. despite having retained some, but not all. Significant risks and rewards of ownership, has transferred control of the asset to another party. Flnancial liabilities are derecognised only when the obligation speciTied in the contract is discharged, cancelled oi expires. Donations and grants 2023 2022 Grants from Dorset County Council Grant from Alice Ellen Cooper Dean Charitable Foundation Donation5 over £250 Other donations 106,431 7,500 15,875 2,582 132,388 99.702 118.981 1.094 219.777 Other income including trading income 2023 2022 Children fees Other income 2,793 288 3,081 2,087 260 2,347
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 Expendlture on charltable actlvltles 2023 2022 Staff costs Direct Costs Support costs Governance costs 125.144 30,729 6,327 2,746 164,946 113,610 13,535 589 4,596 132,330 Staff costs Salaries including employers NIC and pension Staff training 124.243 901 125,144 113,379 231 113,610 Dirert costs Other direct costs Rent and rates 5,457 1,309 5,432 16,533 1,416 582 30,729 2,090 1,115 3,211 5,364 1,330 425 13,535 Repair5, cleaning and maintenance Insurance Telephone and Internet Support costs Professional charges Bank charges Loan interest 5,894 73 360 6,327 154 75 360 589 Governance costs Accountancy services Depreciation Other governance costs 900 1,846 1,008 2,274 1,314 4,596 2.746 Staff costs Details of payments to trnstees and other related parties are set out in note 14. The cost of a51 staff in the year were.. 2023 2022 Wages and salaries Pension costs 122,560 1,683 124,243 111,955 1,424 113,379 No employee earned more than £60,000 during the year. The number of staff employed by the charity during the year wa5 as follows.. 2023 No. 13 2022 No. 12 Average number ol employees, per head count io
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Net Income / lexpendlturel forthe year Thi5 $5 Stated after charging.. 2023 2022 Depreciation of tangible fixed assets Independent examiner's remuneration 1,846 900 2,274 1,008 Pension commitments The charity operates a defined contribution scheme for certairi employees. The a55ets of the scheme are administered by trustees in a fund independent from those of the charity- The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1.683 12022: £1,424). Taxation The charity is a registered charity and is therefore exempt from taxation. Tangible flxed assets Furniture and equipment Land and ljulldlngs Total Cost or valuatlon A5 at I September 2022 As at 31 August 2023 84,969 84,969 29.752 29,752 114,721 114.721 Depreciatlon A5 at I September 2022 Charge for the year A5 at 31 August 2023 25,412 1,846 27,258 25,412 1.846 27,258 Net book value As at 31 August 2023 84,969 2,494 87,463 As at 31 August 2022 84,969 4,340 89,309 io Creditor5." Amounts falling due within one year 2023 2022 Other loans Other creditors Accruals 36.CK)O 446 2.506 38.952 36.000 1,454 37,454 li
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 li Funds Incoming resource5 Resources expended 01.09.2022 31.08.2023 General Funds Unrestricted 262,597 139,969 1164,9461 1164,9461 237,620 262,597 139,969 237,620 Incomlng Resources resources expended 31.08.2022 2022 01.09.2021 General Funds Unrestricted 172,769 222,158 1132.330) 262,597 172.769 222,158 1132,330) 262,597 12 Analysis of fund balances between asset5 Unrestricted funds 20Z3 2022 Tangible fixed assets Current assets Current liabilities 87,463 189,109 138,9521 89,309 210,742 137,4541 Total fund5 237,620 262,597 13 Financial instruments 2023 2022 Categorisation of financial instruments.. Financial assets that are debt instrument measured at amortised c05t 189,109 210,742 Financial liabilities measured at amortised cost 38,952 37,454 Item5 of Income, expense. ga5ns or losses The total interest income for financial assets not measu at fair value through profit or 50$$ is £4,500 12022: £341. 14 Related party transactions During the year Mr5 S E Cripps arted as trustee for the Charity on a voluntary basls. however she also acred as a manager for which she received a gross salary of £20,221 for the duties undertaken. 12