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Charity Registration No. 1027771
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BLANDFORD OPPORTUNITY GROUP
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
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BLANDFORD COPPORTUNITY GROUP
CONTENTS
Page
Charity information Trustees’ Report Independent Examiner’s Report Statement of Financial Activities Balance Sheet
Notes to the Financial Statements
1
2to3
4 5 6
7 to 13
BLANDFORD OPPORTUNITY GROUP CHARITY INFORMATION Trustees: C R Stevens {Chair} N Roper S E Cripps S Hitchings G Smith Principal Office: Williams Opportunity Hall White Cliff Gardens Blandford Forum Dorset DTII 7AG Charlty registration number: 1027771 Independent examiner: Marcus Cridland B.A.IHons} F.C.A. Scott Vevers Ltd Chartered Accountants and Registered Auditors 65 East Street Bridport Dorset DT6 3LB Bankers: Lloyds Bank PIC 6 Market Place Blandford Forum Dorset DTII 7EE
BLANDFORD OPPORTUNITY GROUP TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their report and the financial statements for the year ended 31 August 2024. The Trustees who served during the year and up to the date of this report are set out on page l. Objectlves and activities Blandford Opportunity Group15 a pre-school playgroup for all babie5 and children10-5 years) wlth 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 Commlsslon's general guidance on public benefit and in particularto its supplementary public benefit guidance on advanclng education and on fee charglng. Achievements and performance Durlng the summer holidays of 2024 the roof was replaced and solar panels installed Flnanclal revlew Results The incoming resources for the year amounted to £227,86712023., £139,969). all of which will be used In providin8 care including maintaining the Charit15 premises. The net deficit for the year was £28,992 {2023.. £24,977). The reserves at the year-end were £208,628 (2023: £237,620), whlch consisted entirely of unrestricted funds {Including CCLA account). Strotegy The Charlty seeks to raise funds to provlde day care for all pre-school children specialising in child ren with special needs and dlsabilities. Reserves Policy Funds are held to meet the projected costs of the Charlty for a period of slx to nlne rnonths, together with the costs of winding upthe Charity. The actual amount of the provision is reviewed each Committee Meeting In Ilght of existing clrcumstances. The degree of uncertainty over public funding, and a reduction in private funding avallable, reflecting the current economic 51tuation, means the excess of funds over those required by the policy wlll be allowed to carry forward and forthe tlme belng is not considered excessive. Investment Pollry The Trustees have glven their investment advlsors a discretionary mandate to manage Investments In accordance with the agreed objectives. The Trustees alm to keep sufficient reserves to generate Investment returns to fund the Charity's objectives. Rlsk Review The Trustees have conducted their own review of the major risks to which the Charlty Is exposed and systems have been established to mitigate these risks. These procedures are reviewed annually to ensure they stlll meet the needs of the Charity. The Present Having improved the building over the last 2 years and enlarging the Charity, we hope that the ratio of children to staff wlll sustain our growth as we are finding it difficult to obtain grants at the present tirne.
BLANDFORD OPPORTUNITY GROUP TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Future Now that we have a substantlal legacy invested, we can look to a more secure future. We have an arrangement with Bournemouth and Poole College to provide work experience for students as part of their courses, which is working really well. With the alterations tothe building, we can now provide extra capacity for children from surrounding towns and villages. 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. Newly appointed Trustees are provided with an induction to the Charity through provSsion of training courses and mentoring by established Trustees. Formal meetings and discussions are held on a regular basis. Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financlal statements In accordance with applicable law and United Kingdom Accountlng Standards {United Klngdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the Trustees to prepare flnanclal statements for each flnanclal year which give a true and falr view of Charity and of the incoming resources and application of resource5 of the Charity for that year. In preparing these financial statements the Trustees are required to: select sultable accountlng pollcies and then apply them conslstently; observe the methods and principles in the Charities SORP: make jud8ements and estimates that are reasonable and prudent: - state whether applicable UK Accounting Standards have been followed, subject to any materlal departures dlsclosed and explained In the financial statements; and prepare the flnanclal statements on the 80ing concern basis unless it is inappropriate to presume that the Charity will continue In operatlon. The Trustees are responsiblefor keeping proper accountlng records which dlsclose with reasonable accuracy at any tlme 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 Reportsl Regulations 2008. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. Approved by the Trustees of the Charity and signed on its behalf by: C R Stevens (Chair} Trustee
BLANDFORD OPPORTUNI GROUP INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2024 which are set out on pages 5 to 13. 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 ACVI. 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 14515llbl of the Att. Independent examlnerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection wlth the examination giving me cause to believe that in any material respect: Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or The accounts do not accord with those records; or The accounts do not comply with the applicable requirements concernlng the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a matter considered a5 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. Crldland BA IHonsl FCA Scott Vevers Ltd Chartered Accountants and Re8lStered Auditors 65 East Street Bridport Dorset DT6 3LB LS-
BLANDFORD OPPORTUNITY GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 2024 Total 2023 Total funds Unrestricted funds funds Notes INCOME Income and endowments from: Donations and grants Other income includingtrading income 212,366 212,366 132,388 9,310 9,310 3,081 Investment income 6,191 6,191 4,500 Total Incomlng resources 227,867 227,867 139,969 EXPENDITURE ON.. Charitable activitie5 256,859 256,859 164,946 Total expendlture 256,859 256,859 164,946 Net Movement In Funds for the year 128,9921 128,992) 124,9771 Total Funds: Brought Forward 12 237,620 237,620 262,597 Carried Forward 12 208,628 208,628 237,620 All incoming resources a nd resources expended derive from contlnulng activities. The notes on pages 7 to 13 form an integral part of these flnanclal statements.
BLANDFORD OPPORTUNITY GROUP BALANCE SHEET AT 31 AUGUST 2024 2024 2023 Notes Fixed Assets Tangible assets 94,783 87,463 Current assets Debtors Cash at bank and in hand io 74 151,831 151,905 189,109 189,109 Creditors: Amounts falling due wlthln one year li {38,0601 {38,952} Net current assets 113,845 150,157 Net assets 208,628 237,620 The funds of the charlty: Unrestricted funds 12 208,628 237,620 Total charlty funds 208,628 237,620 The flnanclal statements were approved by the Board of Trustees on by.. and signed o n its behalf C R Stevens Chalr The notes on pages 7 to 13 form an integral part of these flnanclal statements.
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparatlon of the f inancial statements are as follows: a, Statement of compliance The fina ncial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recom mended Practice 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 U nited Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. b. Basls of preparation Blandford Opportunity Group meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initlally 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 as the Trustees believe that no materia l uncertainties exist. The Trustees have considered the level of funds held a nd the expected level of income a nd expenditure for 12 months from authorising these f inancial statements. d. Income and endowments Voluntary income including donatlons, gifts, legacies and grants that provide core funding or are of a nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the a mount can be measured with sufflclent reliability. Donations and legacies Donations and legacies are recognised on a recelvable basls 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 li nked 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 liabillty and included on the balance sheet as deferred income to be released. Investment income Interest is recognlsed once It has been credited to the ba nk account. e. Classlflcation of expendlture All expenditure is recognised once there is a legal or constructive obligatlon 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 cost allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other su pport costs are allocated based on the spread of staff costs. Choritable activities Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activitie5 and those costs of an Indirect nature necessary to support them. Governance costs These include the cost5 attributable to the Charity's compliance with constltutlonal and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses.
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng pollcies (continued) f. Taxation The Charity is ¢on5idered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable com pany 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 Chargea ble Ga ins Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. g. Tangible fixed assets Tangible fixed assets costlng 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 Ilfe, as follows: Flxtures, fittings and h. Cash and cash equlvalents Cash and cash equivalents comprlse cash on hand and call deposits, and other short-term hi8hly liquid investments that a re readily convertlble to a known amount of cash and a re subject to an inslgnificant risk of change in value. i. Borrowlngs Interest-bearing borrowlngs 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 recognised as a charge to the Statement of Financia l Activities over the period of the relevant borrowing. Interest expense is recognlsed on the basis of the effective Interest method and Is Included in interest payable a nd simila r charges. Borrowings are classified as current liabilities unless the Charity has an unconditional right to defer settlement of the Ilabi lity for at least twelve months after the reporting date. j. Fund structure Unrestricted income funds are general funds that are available for use at the Trustee5' discretion in furtherance of the objectives of the Charity. k. Pensions The Charlty operates a defined contribution pension scheme whlch is a pension plan under which fixed contribution5 are paid into a pension fund and the charity has no legal of constructive obligation to pay further contributions even if the fund does 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 paya ble in accordance with the rules of the scheme. 25% straight line basis
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) l. Flnancial instruments c1055ification 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 arrangement entered into. An equ ity Instrument is any contract that evidence5 a residual interest in the assets of the Charity after deducting all of its liabilities. Recognition and measurement All financial assets and Ilabllitles are Initially measured at transaction price {including transaction costs), except for those financlal assets classlfied as at fair value through profit or 1055, which are initiallv measured at fair value Iwhlch Is normally the transactlon price excluding transaction c05ts), unless the arrangement constitutes a f Inanclng transactions. If an arra ngement constitutes a financing transaction, the financial asset or financial liabllity Is measured at the present value of the future payments discounted at a market rate of Interest for similar debt instruments. Flnancia l assets and liabilities are only offset in the statement of financial position when, and only when there ex15ts 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. Flnancial assets are derecognised when and only when al the contractual rights to the cash flows from the financial asset expire or are settled, bl the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or cl the Charity, despite having retained some, but not all, slgniflcant risks and rewards of ownersh ip, has transferred control of the asset to another pa rty. Financial liabilities are dereco8nised only when the obligation specified in the contract Is discharged, cancelled or expires. Donations and grants 2024 2023 Grants from Dorset County Council Grant from Alice Ellen Cooper Dean Charitable Foundation Donations over £250 Other donations 174,278 106,431 7,500 15,875 2,582 132,388 37,720 368 212,366 Other income Including trading Income 2024 2023 Children fees Other income 9,280 30 9,310 2,793 288 3.081
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Expenditure on charitable activitles 2024 2023 Staff costs Direct costs Support costs Governance costs 149,873 100,974 3,572 2,440 256,859 125,144 30,729 6,327 2,746 164,946 Staff costs Salaries including employers NIC and pension Staff tra ining 149,030 843 149,873 124,243 901 125,144 Dlrect costs Other direct costs Rent and rates Utllitie5 Repairs, cleaning and maintenance Insurance Telephone and internet 6,308 1,586 3.585 86,984 1,290 1,221 100,974 5,457 1,309 5,432 16,533 1,416 582 30,729 Support costs Professional charges Bank charges Loan interest 3,152 60 360 3,572 5,894 73 360 6,327 Governance costs Accountancy services Depreciation 900 1,540 2,440 900 1,846 2,746 Staff costs Details of payments to Trustees and other related pa rties are set out in note 15. The cost of all staff in the yearwere: 2024 2023 Wages and salaries Pension costs 147,374 1,656 149,030 122,560 1,683 124,243 No employee earned more than £60,000 during the year. The number of staff employed by the Charity during the year was as follows: 2024 2023 No. 13 Average number of employee5, per head count 13 io
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Net income / (expenditure) for the year Th is is Stated after charging: 2024 2023 Depreciation of tangible fixed assets Independent examiner's remuneration 1,540 900 1,846 900 Pension commitments The Charity operates a defined contribution scheme for certain employees. The asset5 of the scheme are administered by Trustees In a fund independent from those of the Charity. The pension cost charge for the year represents contribution5 payable by the Charity to the scheme and amounted to £1,656 12023: £1,683). Taxatlon The Charity Is a registered charlty a nd Is therefore exempt from taxation. Tanglble flxed assets Furnlture and equlpment Land and bulldln8S Total Cost or valuation As at I September 2023 AddltSons As at 31 August 2024 84,969 29,752 8,860 38,612 114,721 8,860 123,581 84,969 Depreclatlon As at I September 2023 Charge for the year As at 31 August 2024 27,258 1,540 28,798 27,258 1,540 28,798 Net book value As at 31 August 2024 84,969 9,814 94,783 As at 31 August 2023 84,969 2,494 87,463 io Debtors 2024 2023 Other debtors 74 74 li
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 AUGUST 2024 li Creditors: Amounts falling due within one year 2024 2023 Other loans Other cred itors Accruals 36,000 36,000 446 2,506 38,952 2,060 38,060 12 Funds Incoming 01.09.2023 resources Resources expended 31.08,2024 General Funds Unrestricted 237,620 227,867 1256,8591 208,628 237,620 227,867 1256,8591 208,628 Incomlng resources Resources expended 31.08.2023 2023 01.09.2022 General Funds Unrestrlcted 262,597 139,969 (164,946) 237.620 262,597 139,969 (164,946) 237,620 13 Analysls of fund balances between net assets Unrestrlcted funds 2024 2023 Tanglble f Ixed assets Current assets Current liabilities 94,783 151,905 138,0601 87,463 189,109 138,952) Total funds 208,628 237,620 14 Flnanclal Instruments 2024 Z023 Categorisation of f inancial instruments: Financial a55ets that are debt instrument measured at amortised cost 151,905 189,109 Financial liabilities measured at amortised c05t 38,060 38,952 Items of income, expense. galns or losses The total interest income for financial assets not measured at fair value through profit or105s is £6,191 {2023: £4,500). 12
BLANDFORD OPPORTUNITY GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15 Related party transactions During the year Mrs S E Cripps acted a5 trustee for the Charity on a voluntary basis, however she also acted as a manager for which she received a gross Salary of £20,717 for the duties undertaken. 13