Charity number: 1051440
## THE PARENT HOUSE TRUST
## UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
THE PARENT HOUSE TRUST
for the year ended 31 March 2021
## CONTENTS
||Page||
|---|---|---|
|Reference and administrative details of the Charity, its Trustees and advisers||1|
|Trustees' report 2||6|
|Independent examiner's report 7||8|
|Statement of fnancial activities||9|
|Balance sheet||10|
|Notes to the fnancial statements|11 - 22||
THE PARENT HOUSE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
for the year ended 31 March 2021
## Trustees
David Newman, Chair Jane Fulford Rachel Lindsay Kevin Tubridy (resigned 9 November 2020) Lorraine Walker Margaret Wearing Isotta Perotti (appointed 9 November 2020) Jonathan Segal (appointed 9 November 2020) Barbara Ford (appointed 9 November 2020)
Charity registered number
1051440 Principal office
The Parent House Trust The Parent House 55 Calshot Street London N1 9AS
Accountants and Independent Examiner
Julian Flitter Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ
TRUSTEES' REPORT
for the year ended 31 March 2021
The Trustees present their annual report together with the financial statements of the Charity for the 1 April 2020 to 31 March 2021.
Objectives and activities
a. Policies and objectives
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THE PARENT HOUSE TRUST
The objects of the Charity are:
- i) To advance the well-being and development of parents, carers and children, in particular through
- education,support and training for employment and voluntary work, especially but not exclusively by the provision of programmes for literacy, numeracy and other basic skills including information and communication technology, language classes and community and family learning and also by the provision of counselling, mentoring, information and advice on education, personal development, finance and opportunities for voluntary service and employment and by the provision of such services and support as parents and carers may reasonably require so as to benefit them, their children and the community;
- ii) To preserve, protect and promote health including by the provision of information and advice on health,nutrition and child-care;
- iii) To relieve poverty by any charitable means including by the provision of advice, information and support, theprovision of community development programmes and child-care and the provision of guidance on education, training and opportunities for work and voluntary service for parents, carers, refugees, ethnic minorities, displaced people and other deprived and needy groups in the community;
- iv) To provide or assist in the provision of facilities for recreation or other leisure time occupation for the generalpublic with the object of improving their conditions of life, and
- v) To promote the efficacy and effectiveness of charities which are established for objects similar to any or all ofthe objects set out above, and the effective and efficient application of resources for such object or objects by promoting or disseminating programmes or models of activity, projects of good practice developed or carried out by the Charity to communities, organisations and schools nationally or internationally in any appropriate form or format, and by the delivery of services generally.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## b. Activities for achieving objectives
Providing ongoing training, mentoring, support and courses according to the needs of each parent or carer at no cost to them, in order to enable them to improve their own wellbeing and thereby to improve the wellbeing, education and achievement of their children.
## c. Charity Commission Guidance
The Board of Trustees has referred to the guidance provided by the Charity Commission in ensuring that the Charity’s aims, objectives and planning for future activities are for the public benefit.
Achievements and performance
a. Context
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THE PARENT HOUSE TRUST
TRUSTEES' REPORT (CONTINUED) for the year ended 31 March 2021
The Parent House Trust aims to help whole families by responding to the individual needs of their disadvantaged parents and carers.
It remains rooted in our diverse local community where need and deprivation have only intensified in the last year and where our beneficiaries were particularly affected by the effects of the continuing CoOVID-19 pandemic. Thus in the whole of the very mixed area of Islington where we are based 43% of all children live in poverty compared to the London average of 37% and the median neighbourhood deprivation overall is 1.6 times higher than the all-London median .
COVID-19 has meant too this year that the Parent House building was closed to our beneficiaries for most of the period, most face-to-face meetings were cancelled and we worked from home as far as possible.
## b. Work
Working remotely has meant evolving a Working from Home Policy and transferring, borrowing or buying office equipment, furniture, phones, desks, computers, headphones and so on for staff members' homes and with many attendant problems. We also ensured that our practice supported staff wellbeing.
Particular problems this year among our beneficiaries were the lack of IT resources other than phones which were used extensively. We helped them to access food, school vouchers, activity boxes, IT equipment and garden bulbs. Their main issues were food shortage, fear, lack of confidence, lack of IT competence, bereavement, home schooling and poverty.
Volunteer involvement this year was much lower too and mainly via social media, while referrals from equally disoriented partner organizations slowed until October.
We very much want to recognize and thank all staff and volunteers for their extraordinary efforts and commitment to our work in this period of unprecedented difficulties.
## c. Beneficiaries
- This year we worked with 243 parents and carers oi whom: o 97% were mothers, o 71% were from BAME backgrounds, o 63% were lone parents.
- 81% were unemployed, 61% of these were unemployed for over 2 years,
- 29% have a disability (this was evenly divided between mental and physical disabilities), o 58% started with The Parent House with lower than the national average level of qualifications, o The age range varied from 24-54.
- They had children from across all age ranges. The largest group was those between 4-11 (38%), o90% of the children attended school in the UK and o 87% lived in council or housing associations properties
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THE PARENT HOUSE TRUST
TRUSTEES' REPORT (CONTINUED) for the year ended 31 March 2021
## Achievements and performance (continued)
## d. Projects
A smaller number of specific projects delivered this year included:
- Knife Crime Ambassadors, o
- Outreach Group, o Peer Mentoring, o Mindfulness Project, o Walking Project,
- Presentation Skills Training and o Social Prescribing
## e. Impact
Staff supported parents in the following ways:
- To access £250 worth of vouchers to help them with their finances, o To get vouchers worth a total of £770 to help them with their finances, o Providing activity packs to 27 parents,
- 11 parents got laptops, as a result these parents were able to access services and o Parents were given technical support to use devices, which resulted in parents being able to access services including those of the Parent House.
- It was only possible to survey 2/3rds of our beneficiaries this year, but of them:
- o 75% said the Parent House had helped them develop new skills, o 100% reported they could cope better with everyday demands, o 98% stated that the Parent House had helped them increase their self-confidence, o 100% stated that the Parent House had helped them reduce their isolation, o
100% said the Parent House had helped them improve their physical or mental health, o 75% became aware of and accessed community services new to them and o 100% stated they had improved their communication with their children with our support.
## Financial review
## a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies and in Post-year end events section of the Trustee report.
## b. Reserves policy
The Trustees aim to maintain a level of reserves sufficient to survive fluctuations in income and expenditure from year to year, and in particular to meet their statutory, contractual and ethical
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THE PARENT HOUSE TRUST
TRUSTEES' REPORT (CONTINUED) for the year ended 31 March 2021
obligations to the charity. They also aim to build reserves to invest in maintaining and developing the Charity.
## c. Overview
This year grants, which account for most of our income, increased significantly, while costs were carefully controlled. The year’s operations thus showed a surplus of £43,998 (2020: surplus of £21,329).and at the end of the year reserves totaled £157,929 (2020: £113,931) of which £85,621 were unrestricted funds (2020: £54,432).
Structure, governance and management
## a. Constitution
The Charity was established by a Declaration of Trust in 1995 which was amended by a Deed of Amendment
(the Trust Deed) on 11th December 2013.
## b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. No benefits or remuneration are paid to the Trustees and the Trustees aim to ensure that their members’ personal backgrounds or qualifications contribute usefully to the objects or management of the charity.
## c. Organisational structure and decision-making policies
The Board of Trustees administers the Charity. It normally meets at least 4 times a year and has appointed working groups that meet as appropriate to prepare reports and recommendations for the Board of Trustees’ consideration. Trustees attend the Charity on a routine or occasional basis at other times. An Executive Director is appointed by the Board to be responsible to the Trustees for the day-to day operations but all major and long term decisions are taken by the Trustees.
The Charity has dedicated staff and staff retention is very high. Whenever possible the charity employs staff that reflect the community which they serve and local parents are encouraged to apply to the Charity both as paid employees and volunteers.
Each member of staff receives monthly supervision, during which individual professional developments are discussed and supported. Between them staff speak seven languages and bring a host of strengths and skills to their work at The Parent House, including Social Work, Education and Early Years. This background allows the Charity to work to very high standards and to share good practice and to encourage reflection to ensure that individual needs of all service-users are fully met. The Parent House also benefited from considerable help from 70 volunteers this year, many of whom are former beneficiaries or service-users and provides them with continuing support and supervision.
Post-year end events
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THE PARENT HOUSE TRUST
TRUSTEES' REPORT (CONTINUED) for the year ended 31 March 2021
As the pandemic and consequent Government regulations have remained with us, we have continued to operate remotely by and large, taking advantage of the relaxing of restrictions when it occurred. This is inevitably not completely satisfactory given the very personal nature of our interactions with service-users and the practical difficulty for many of them to access appropriate technology. With an apparent improvement in the pandemic outlook, we hope for a return to normal operations on site later on this year, but at the time of signing off these accounts, we do not know when that will be possible for our staff or desirable for our service-users.
Financially however we are fortunate that our viability does not depend on continuous personal public fundraising, and we are most grateful to our grant-funders and other donors who have been very supportive in this extraordinary situation. In the circumstances we believe that our resources are adequate for the Parent House to continue through the current year.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ David Newman (Chair of Trustees) Date: 25-01-22
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THE PARENT HOUSE TRUST
## INDEPENDENT EXAMINER'S REPORT
for the year ended 31 March 2021
Independent examiner's report to the Trustees of The Parent House Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2021.
## Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner's statement
Since the Charity'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 I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
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THE PARENT HOUSE TRUST
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 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.
INDEPENDENT EXAMINER'S REPORT
(CONTINUED) for the year ended 31 March 2021
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
## Dated: 25-01-22
Julian Flitter FCA Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ
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THE PARENT HOUSE TRUST
## STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2021
|Income from:
Note
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward
The notes on pages 11 to 22 form part of
BALANCE SHEET
as at 31 March 2021
Fixed assets|Unrestricte
d funds
2021
Restricted
funds
2021
Total
funds
2021
£
£
£
66,940
204,081
271,021
-
-
-
35,751
191,272
227,023
54,432
59,499
113,931
31,189
12,809
43,998
these fnancial statements.
2021
Note
£
35,751
191,272
227,023
31,189
12,809
43,998
66,94
0
204,08
1
271,02
1
85,62
1
72,30
8
157,92
9|Total
funds
2020
£
236,25
2
17,44
3
232,36
6
92,60
2
21,32
9
2020
£
232,366
21,329
253,69
5
113,93
1|
|---|---|---|
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## THE PARENT HOUSE TRUST
**----- Start of picture text -----**
Tangible assets 9 13,223 16,53
0
Current assets
Debtors 10 2,966 4,826
Cash at bank and in hand 165,298 118,553
168,264 123,37
Creditors: amounts falling due within
9
one
year 11 (23,558) (25,97
8)
Net current assets 144,706 97,401
Total net assets 157,929 113,931
Charity funds
Restricted funds 12 72,308 59,49
9
Unrestricted funds 12 85,621 54,43
2
Total funds
157,92 113,93
9 1
**----- End of picture text -----**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
David Newman (Chair of Trustees) Date: 25-01-22
The notes on pages 11 to 22 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
## 1. General information
The Parent House Trust is an unincorporated charity. The Charity's objects are to advance the well-being and development of parents, carers and children as stated in the Trustees' Report.
## 2. Accounting policies
## 2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Parent House Trust 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.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
## 2.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
## 2.3 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have considered the impacts that the Covid-19 pandemic may have for the Charity and it is deemed that the Charity can meet its commitments and liabilities and can continue for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. 2. Accounting policies (continued)
## 2.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from government and other grants, whether capital 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. Income received in advance for the provision of specified services is to be deferred until the criteria for income recognition, including achieving any attached performance conditions, have been met.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## 2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
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THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
All expenditure is inclusive of irrecoverable VAT.
- 2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 2. Accounting policies (continued)
- 2.6 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their expected useful lives on the following bases:
Building renovations - over the period of the lease Fixtures and fittings - 3 years straight line
## 2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
- 2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- 2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate
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THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## 2.10 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
3. Income from donations and legacies
||Unrestricted|Restricted|Total Total funds funds|Total Total funds funds|
|---|---|---|---|---|
||funds funds 2021 2021 2021 2020||||
||£|£|£|£|
|Donations|2,352|-|2,352|22,287|
|Grants
Total donations and grants|64,588
66,940|204,081
204,081|268,669
271,021|213,965|
|||||236,25
2|
||141,199|95,053|236,252||
|Total 2020|||||
4. Income from charitable activities
Unrestricted Restricted Total Total funds funds funds funds 2021 2021 2021 2020 £ £ £ £ - - - Education and support 17,443 4,850 12,593 17,443 Total 2020
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THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
## 5. Analysis of expenditure by activities
## Activities
|Education and support|undertaken Support Total Total directly costs
funds funds
2021
2021
2021
2020
£
£
£
£
194,111
32,912
227,023
232,366
191,688
40,678
232,366|
|---|---|
Total 2020
5. Analysis of expenditure by activities (continued)
Analysis of direct costs
||Education|Training expe|Training expe|
|---|---|---|---|
||and|Marketing ex||
|Staf costs|support
2021
£
188,476|Independent
Total 2020
32,912
32||
|Other direct costs|5,635|||
|Total 2020
194,111
194,111||Total
40,678|40|
|||fund||
|191,688
191,688||s
2020||
|Analysis of support costs||£||
||Education|184,360||
||and
support|7,328||
||2021|191,68||
||£|8||
|Depreciation|3,307|||
|Premises expenses|2,383|||
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THE PARENT HOUSE TRUST
|NOTES TO THE FINANCIAL
STATEMENTS for the year ended 31
March 2021||
|---|---|
|Total funds 2020
£
3,307 15,926
11,918
6,015
6.
Analysis of expenditure on charitable activities
Summary by fund type|36
14
3,00
40,67
8|
|||Unrestricted|Restricted Total Total funds funds|Restricted Total Total funds funds|Restricted Total Total funds funds|
|---|---|---|---|---|---|
|||funds funds 2021 2021 2021 2020||||
|||£|£|£|£|
||Education and support|35,751|191,272|227,023|232,366|
||Total 2020|||||
|||||||
|||149,728|82,638|232,366||
|||||||
|7.|Staf costs|||||
|||||2021|2020|
|||||£|£|
||Wages and salaries|||188,476|184,360|
|||||188,476|184,360|
The average number of persons employed by the Charity during the year was as follows:
|Training and education
Administration
Mentoring and support|2021
No.
1
2
7
10|2020
No.
1
2
5
8|
|---|---|---|
No employee received remuneration amounting to more than £60,000 in either year.
The total aggregate payments received by key management personnel in the year was £67,338 (2020: £66,286).
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THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).
## 9. Tangible fixed assets
|Freehold Fixtures and
property
fttings
£
£
Cost or valuation
At 1 April 2020
151,700
50,556
At 31 March 2021
Depreciation
At 1 April 2020 135,170 50,556 185,726 Charge for the year 3,307 - 3,307
At 31 March 2021
Net book value
At 31 March 2021
13,223
-
At 31 March 2020
Debtors
2021
£
Other debtors
2,966
Prepayments and accrued income
-
2,966
151,70
0
50,556
138,47
7
50,556
16,53
0
-|Total
£
202,256
13,223
2020
£
2,826
2,000
4,826
202,256
189,033
16,530|
|---|---|
## 10. Debtors
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
## 11. Creditors: Amounts falling due within one year
|Trade creditors
Accruals and deferred income|2021
202
0
£
£
2,183
22,97
8
21,375
3,00
0
23,558
25,978|
|---|---|
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NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
12. Statement of funds
|Statement of funds - current year|||||
|---|---|---|---|---|
||Balance at 1|||Balance at|
||April
2020 £|Incom|Expenditur
e £|31
March|
|||e £||2021|
|Unrestricted funds||||£|
|Unrestricted Funds|54,432|66,940|(35,751)|85,621|
|Restricted funds|||||
|Cripplegate Foundation Catalyst|4,752|5,000|(4,177)|
5,575|
|Building Renovations|16,530|-|(3,307)|
13,223|
|Islington Council VCS Fund|149|15,625|(15,774)|
-|
|Laces Trust|-|20,000|(10,000)|
10,000|
|Greater London Authority|3,881|1,910|(5,791)|
-|
|Tech Belt Community Fund|2,197|-|(2,197)|
-|
|The Goldsmiths' Company Charity|3,000|-|(3,000)|
-|
|Islington Giving Supporting Families|-|8,348|-|8,348|
|Paul Hamlyn Foundation|20,000|20,000|(20,415)|
19,585|
|People's Postcode Community Fund|-|37,418|(37,418)|
-|
|Association of Mental Health Providers|-|4,710|(3,364)|
1,346|
|Morris Trust|-|5,000|(2,000)|
3,000|
|Cripplegate Foundation|-|15,500|(15,500)|
-|
|Islington Giving|7,854|7,750|(7,750)|
7,854|
|Comic relief|-|4,000|(4,000)|
-|
|Trust Order of Worship|1,136|241|-|1,377|
|HMRC|-|18,563|(18,563)|
-|
|ELBA Trust|-|930|(930)|-|
|Tudor Welbeing|-|32,000|(30,000)|
2,000|
|Pilgrim Trust|-|7,086|(7,086)|
-|
||59,499|204,081|(191,272)|72,308|
|Total of funds|113,931|271,021|(227,023)|157,92|
|||||9|
Statement of funds (continued)
The restricted funds as analysed above are held for the following purposes:
Page 19
THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
12.
The building renovation funds represents the expenditure on the property after depreciation.
The Cripplegate Foundation Catalyst Fund provided grants for parents that are supported by the charity Islington Giving provided funding for our Outreach Project. Paul Hamlyn Foundation provided funds for Covid support and the charity’s Core Costs. Islington Giving Supporting Families Grant provided funding to support a SEND parent project.
The Association of Mental Health Providers provided funds for Covid support. The Tudor Trust provided funds to support staff wellbeing.
Laces and Morris Trust both provided funds to support the Charity’s Core costs.
Page 20
THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
|12.
Statement of funds (continued)
Statement of funds - prior year
Unrestricted funds
Unrestricted Funds
Restricted funds
Cripplegate Foundation Catalyst
Building Renovations
Islington Council VCS Fund
Laces Trust
Greater London Authority
Tech Belt Community Fund
The Goldsmiths' Company Charity
Paul Hamlyn Foundation
People's Postcode Community Fund
Islington Giving
Trust Order of Worship
Total of funds|Balance at
1 April
2019 £
Income
£
58,111
146,049
5,386
5,350
19,837
-
-
13,584
-
30,000
-
7,642
-
3,689
-
4,000
-
20,000
3,341
-
5,105
23,067
822
314
92,602
253,695
34,491
107,646|Expenditu
re £
(149,728)|Balance
at
31
March
2020
£
54,432|
|---|---|---|---|
Page 21
THE PARENT HOUSE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted Restricted Total funds funds funds 2021 2021 2021 £ £ £ Tangible fixed assets 13,223 - 13,223 Current assets 95,956 72,308 168,264 - Creditors due within one year (23,558) (23,558) Total 85,621 72,308 157,929
Analysis of net assets between funds - prior year
Unrestricted Restricted Total funds funds funds 2020 2020 2020 £ £ £ - Tangible fixed assets 16,53016,530 Current assets 80,41042,969123,379 - Creditors due within one year (25,978) (25,978) Total 54,432 59,499 113,931
## 14. Related party transactions
Donations from trustees and companies controlled by trustees totalled £10,200 (2020: £40,268) in aggregate in the year.
The Charity has not entered into any other related party transaction during the year or the prior year and nor are there any outstanding balances owing between related parties and the Charity.
Page 22
## _**The Parent House Trust**_
Your ref: JRF/JFR/2810
Goodman Jones LLP 29/30 Fitzroy Square London WIT 6LQ
Dear Sirs
## **Parent House Trust**
**Financial statements for the period ended 31[st] March 2021 prepared in accordance with The Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice in accordance with the Financial Reporting Standard 102 issued in July 2014 and United Kingdom Generally Accepted Accounting Practice (GAAP).**
This representation letter is provided in connection with your independent examination of the financial statements for the above period for the purpose of expressing an opinion as to whether the financial statements give a true and fair view of the results and financial position of the Charity in accordance with the above financial reporting framework.
## _Financial statements_
1. We have fulfilled our responsibilities as the Trustees, as set out in the terms of your engagement letter and under the Charities Act 2011 for preparing financial statements in accordance with the applicable financial reporting framework which give a true and fair view of the financial position of the Charity as of the above date and of the results of its activities for the period then ended and for making accurate representations to you as independent examiners.
2. Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
3. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
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4. We have disclosed all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements and these have been disclosed in accordance with the applicable financial reporting framework.
5. Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the applicable financial reporting framework.
6. All events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements have been adjusted or disclosed in the financial statements.
7. We confirm the financial statements are free of material misstatements, including omissions. We believe that any uncorrected misstatements identified during the independent examination are immaterial, both individually and in aggregate to the financial statements as a whole.
8. We confirm that, having considered our expectations and intentions including the availability of future income, the Charity is a going concern as it is able to meet its liabilities as they fall due for a period of at least twelve months from the date of the financial statements. We confirm that the disclosures in the financial statements are an accurate reflection of the reasons for our consideration that the financial statements should be drawn up on a going concern basis.
9. We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
10. We confirm that all income subject to restrictions imposed by the donor has been analysed and included within the appropriate restricted fund. We confirm that all expenditure relating to the activities undertaken to further the specific charitable purposes the restricted fund have been identified and allocated to the appropriate restricted fund.
11. We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.
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_Information provided_
12. All accounting records and relevant information have been made available to you for the purposes of your independent examination. We have provided to you all other information requested and given unrestricted access to persons within the entity from whom you have deemed it necessary to obtain independent examination evidence. All other records and related information, including minutes of all management and Trustees’ meetings, have been made available to you.
13. All transactions undertaken by the Charity have been properly reflected in the accounting records and are reflected in the financial statements.
14. We acknowledge our responsibility for the design, implementation, and maintenance of controls to prevent and detect fraud. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
15. We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves, management, employees who have a significant role in internal control, or others, where fraud could have a material effect on the financial statements.
16. We have disclosed to you all information in relation to allegations of fraud, or suspected fraud affecting the entity’s financial statements communicated by employees, former employees, analysts, regulators or others.
17. We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the Charity conducts its business and which could affect the financial statements, except as explained to you and as disclosed in the financial statements.
18. The Charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of noncompliance.
19. We confirm that the related party relationships and transactions set out below are a complete list of such
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relationships and transactions and that we are not aware of any further related parties or transactions.
**----- Start of picture text -----**
Nature of
Related Party Relationship
transaction
Margaret Jane
Trustee None
Fulford
David Newman Trustee Donations
Margaret Wearing Trustee None
Lorraine Walker Trustee None
Rachel Lindsay Trustee None
Kevin Tubridy Trustee (resigned 9 None
November 2020)
Isotta Perotti Trustee (appointed None
9 November 2020)
Jonathan Segal Trustee (appointed None
9 November 2020)
Barbara Ford Trustee (appointed Donations
9 November 2020)
Laces Educational M Fulford (trustee) Grant income
is also as trustee of
this charity (not
disclosed)
Twenty-Fifth Donations
Century
Investments D Newman
Limited
(trustee) is director
Twenty-Sixth and shareholder of
Century both companies
Investments
Limited
Fordlaw Barbara Ford Donations
(trustee)
is director and
shareholder
**----- End of picture text -----**
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We confirm that we are aware that a related party of the Charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the Charity, or vice versa, and as a result will include:- members (as a guide those with more than 20% of voting rights), trustees, other key management, close family and the other business interests of the same defined parties.
20. The Charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the financial statements.
21. There are no liabilities, contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.
22. The Charity has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities (including loans, quasiloans or credit transactions) for the Trustees, nor to guarantee nor provide security for such matters, except as already disclosed in the accounts.
23. The Charity has been recognised by HM Revenue & Customs as a charity for taxable purposes. During the year, the Charity did not receive any taxable income or gains.
24. We confirm that the Charity’s governing document does not specify any form of professional audit. We confirm that no Trustee or member of the Charity requires an audit. We confirm that no donor requires an audit of annual accounts as part of the grant conditions and an audit is not required for any other reason.
25. We confirm the following specific representations made to you:-
None
We confirm that to the best of our knowledge and belief that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the above representations to you.
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## Yours faithfully
Signed on behalf of the Board of Trustees by:
………………………………………………. Printed Name of Trustee: David Newman Date: 25-01-22
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