Charity registration number 1059202 Company registration number 03254107 {England and Wales) THE TEAMWORK TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
THE TEAMWORK TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees S M8rshall A Dady D Owens C Davi8s (Chairl P Griffiths M Long T Thom8$ J Fitzroy-Euy (Appointed 24 March 20221 (Appointed 24 March 20221 IAppDinled 24 March 20221 (Appointed 24 March 20221 (Appoinled 24 Mar(th 20221 Key Management Personnel CEO- H Burdett-wright (Appointed 8 Mareh 20221 Head of Service Living and Learning - V Bell HeAd of Support-A Taor Burt Isigned 1 July 20221 Strategic Director- J Bruce Iresigned 29 April 20221 Operations DiTeclor- G Marshall (resigned 15 Odob8r 20211 Charity numbor 1059202 Company numbor 03254107 Registered office Unit o, St Marks Road Sl James Industrial Estate Corby Northalnptonshire NN18 8AN Auditor Ellacotts Audit Services Limited Vantage House 2700 Keltering Parkway Kettering Venture Park Kettering Northamptonshire NN15 6XR Bankers Lksyds Bank plc 48 Marf(et Str681 Wellingborough Northamptonshire NN8 1AG Investment advisors Telford Mann Unil 1 Ironstone Place Kettering Northamplonshire NN14 1FN
THE TEAMWORK TRUST CONTENTS Pag• Trustees. report Independent auditorfs rewrt Statement of fin8n¢ial actiVleS Balance shetst Statèm8nt of <%sh ftows 10 Notes to the financial slalements 11-24
THE TEAMWORK TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2022 Tho tnjstees present their report and audited financial statements for thè ar end8d 31 Mah 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the fin8ncial stat8mènts and comply wtth tha trust's Memor8ndum of Association. the Companies Act 2006 and "Accounting and Reporting by GhaThlies'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repotting Standard appliGabl6 in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191". ObjectTrves and artr¥iti85 The truses objects are lo promotg th8 prgS8rvation of health and to assist in relieving and rehabilitating vuln8rable adults who have short OT long temi and enduring mental health issues, leaming dtfficulties and disabilities or sensory or physical disabl1"eS based in NorthamptOll5hire and by the provision of facilities for work therapy, education, sockqlly indusive activtties and counselling. The wlicies 8dopled in fvrtherance of these objects are a5 follows.. . We involved 811 our p&oplo in the deslgn of seryices that they were to access.. . We measured Ihe impact Ihrough indEdUals, rryression and recovery by using several recognised tools; . We generated income through contracts, grants and fundrai5ing'. . We built a large dffjital presence allowng lor new services to d&v¢10p. There has been no change in these poliues during the year. The Iruslees have paid due regard to guidance issued by the Charty Commission In deciding what activities the trust should undertake. Achtevements and perfornianc8 The changing economic and social environmental pressures brought on by Covid-19, Brexit, and other inclusion agendas to supptsrt thè dèlivèry of Hèalth & Social Care Services meant that Teamwork must continuousty look al new ways of working with its client groups and this year was no differant. TeamwaTk's strength has continued lo be shown. continuing the new ways of $8rvi(s delivery, which included the use of digitsl processes through the provision of remots semces. This helped achieve a continuous service vthich has been delivefed in a seamless way. There were many examples of the princpples of person-centred thinking running through thé design of new ways of working at Teamwork, in particular ihe ability to giv8 all our individuals choice and control over how and when they accessed seTvices. In add(b"on, T8amwork en8bJed its people to start to contritHJte their own thinkn.ng on the services that should b8 delivered. During the year ended 31 March 2022, we were able to mak8 a signffjcanl impact by delivering the following to our service users.. Social Carg Living and Leaming- We were able to deliver 26,238 sessions to 112 Servi users Wtth leamlng. physical or sensory di58bilities including autistic adulls. These included MOte sessions where service users were unable to attend our sites, however, the vast majoity saw a retum to a fal0-face provision of the senrice following lifting of Covid restrictions during the year. Education - We delive¥ed 433 classes to 86 service users across 19 different subjects during the year which resulted in 36 of those seNice users achieving nationalty accredf(ed qualffications and a 1000/0 success rale in a¢hioviny in-house qualifications.
THE TEAMWORK TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Mental Hèalth Wellbeing - During the year, we delivered 20 wellbeing educat'on network coutses of belween 64 weeks. We also delivered 7 short courses. 48 weekly peer support group5 and 12 walking groups. Black Counselling Project- We ran this project during the year Ill QTder to try and raise the profile of the organisation as a provtder of seNices available for all. We supported 50 global majority clients and these S8ssions r8 d8livered by two global majority counsellors. Communlty Engag8m•nt Community Champions - We recrust8d 5 part-time lived experien staff in thè yè8[ in Order to delivar 8 6- month project cenlred around disability indusion which helped to r88(*1 5,000 people. Census Support- We employed 12 part-lime staff for 3 months to provide digitsl support to the Kettering, Corby and Wellingborough communities in order to complete their Census fom)s. This was funded ihrough our Good Things Foundation Proled. Volunteers We provided 16am8d opportunities to 56 volunteers who support8d our projects during the year. Fin•n¢lal rèview The ye81 can be summarise(l as one of transition for the Charity. This (¥n be seen in the InCaSed staff and recruitment costs in the year as the Charity put into p18¢e its re-organisational structure in order to take the Charity forward and grow. This included several new trustee appointments so that the Board of Trustees had tho desiied skill sets to provide thè lèv81 of goveTnancg required for the size of the organisation. In temis ol numbers. the Charity achieved 4 £140,247 deficit for the year. £127,000 of which can be attributed lo the stsff arKI recruitrnent increases. The markets were relatively stsblts at th8 year end and showed a modest unrealised gain of £4,498. This then flows down to th8 r98erves of the Charity which at 31 March 2022 showed reserves of £1.040,971, split between restricted £644.406, designated £272,062 and unrestricted fvnds of£124,503. Goln9 concem After making appropriate enqurri¥s. thè Board of TTUStees. including all Committees, has a reasonable èxpectation that the Ac8demy Trust has adequate resources to continue in 0rational existence for the foreseeable ft¢ture. For this reason it continues to adopt th8 going concem basis in preparing the financial ststements. Further detsils regarding thè adoption af the going concern basis can be found in the AontIng PolirAes note 1.2 of the financtal statements. The Trust ensures that resources are managed lo ensure sustainability. Reserves policy 11 is the policy of the tntst that unrèstrict8d fund5 which have not been designated for 8 5perAfic use should be maintained at a lèvg18qtJlv81enl lo beiween three and six month's core expenditure. The trustees consider that r858rves al this level will ensure that. in the èvent of a significant drop in funding. they will be able lo (x)ntinue the trust's current activilies while wnsideration is given to ways in which additional funds may be raised. This level of reS8S has been maintsined throughout the yèar. The reseryes are revlewed at each Finance cornmittee meeting and r8ttfied at each fvll trustee board meeting. Invastm•nt pollcy We invest ftjnds to generate a pital growlh over a long-teTm period. This is reviewed by a sub-committee on a guarterly basis and we can confvmi thal the objeth've has been met.
THE TEAMWORK TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 structure, governancè and management The trust is a company limited by guardntee, governed by its Memorandum and Artides of Association dated 24 September 1996 and amended on 27 February 2019. The trustees, who are also dir8Ctors foi the purposè of wmpany law. and who served during the year and up to the date of signature of the financial statements were.. J Noble (Ch81TI (Resigned 24 March 2022) (Resigned 24 March 2022) IResigned 24 March 2022) D Glen S Marshall R Boswell A Dady R Collins D Owens C Davies IChaiTI P Griffiths M Long T Thomas J Fitzroy-Ezzy (Resigned 24 March 20221 (Resigned 24 March 20221 (Apwjinted 24 March 20221 (Apptsintéd 24 March 20221 (Appointed 24 March 20221 (Appointed 24 March 20221 (Appointed 24 March 20221 None of the trustees has any b8nefi(llal inltrrest in the company. All of the trustees are members of the company and gu8rantee to ccmtribute £1 in the event of a winding up. Trustee Appolntments Trustees a elected by the boafd of trustee5 and will hold office until the AGM eath year where they become eligible for re-appointrnen*. Th8 rninimum number of tmstees is 8 wth the maximum being 14. New Iru5t8&s are interviewed by the Chair of the trustees and fv40 Iruslees prior lo recommendation for appointment, during which lim8 they will hav8 had the vision 8nd 5trat&gy of the charity 8xplain8d to th8m. New trustees a provided with a copy of the Charity Commission publItionS Welcome lo new Tru5tees' and The Essential Trustee.. What you need to know,. C(x1e of Conduct and Job Description. Risk Management The Iruslees have assessed tha major rlsks to which tha trusl is exposed, and are sausfied that syslgms are in place to mitigate exposure to the major risks.
THE TEAMWORK TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 ststement of trustees. rèsponsibilities Tha trustees. who are also the direcloT5 of Th8 Tèamwork Trust for the purpose of company law, are responsible for preparing the TStees. Report and the financial staternents in accordance wth applicable law and United lQ'ngdom Accounting Standards Iuniled Kingdom Gènèrally Accepted Accounting Pracbcel. Company Law requires the trustees to prepare financial statements lor each financial year which give a trLte arKI fair view of the stale of affairs of the trust ol the incoming resources and app14cation of resources. including the income and 8xpenditUTe, of the ¢harriable cornpany foT that year. In prepsring these finan¢i81 statements. the Iruste9S 8re required to.. - select suitable accounting poliCS and then apply them consistenuy: - observe the methods and principles in the Charities SORP- - rnake judgemènts and estimatss that are Teasonable and prudènt". state whether applicable UK Accountsng Standards have b88n followed. subject to any matèrial departurBs disdosed and expl4in8d in the financial stal&tnènts," and prep8rg the financial statements on the going concern basis unl8ss it is irbappropTiate to presume that Ihe trust will continue in operation. The trustees are resrK)nsible for k8eping adequate accounting r8cx)rds that disdose with reasonable ac¢ur8¢y at any time the financial position of the trust and 8nable them to ensure that the financial statemer¢ts cornply with the Companigs Act 2006. They are also responsible for safeguarding the assets of the trust and hon¢9 for taking reasonable steps for Ihe prevention dètèction of fraud and other irregularities. The trustees are re5ptsnsible for the maintenance and integrity of the cotptsrate and financial infomiation induded on the charitable company's website. Legislation in the United Kingdom goveming the pr8paration and dissemination ol financial ststfymenls may differ from lègislation in other jurisdictions. Auditor In accord8ric@ with the companys 3cleS. a resolution proposing that Ellacotts Audit Servis Limited be reappointed as auditor of the company wll be put at a General Meeting. Diselosure of 5nformation to audltor Each of the trustees has confirmed that there is no inft>tmation ol which they are awa whtch is levant to the audit, but of which the auditor is unaware. They have furthgr confim8d that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such infom)ation. The trustees. report vras approved by the Board of Truslees. C Davies (Chairl Trustee
THE TEAMWORK TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE TEAMWORK TRUST Opinlon We have audited the financial statements of The TeamwDTk Trust (the 'trust'l for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and noles to the financial ststements, induding siqnificant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandaids, indtsding Financial Repgrting Slandard 102 The Financial Repotting Slandard applic8bl8 in the UK and RepubliG of I{31 Iuniled Kingdo¥n Generally kncepted Accounting Piacticel. In our opinion. the fin8naal stalements.. give a Irue and lair Mew of the state of the charitable company'$ affairs as at 31 March 2022 and of its incoming rèsources and application of resources, for the year then ended.. have been properfy prep8red In accordance wth United Kingdom Generally Accopted Accounting Practice.. and have been prepargd in accordanc4 with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with Intemational Standa¥ds on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Audilofs r8sponsibilities for thè èudit of th6 financial ststements section of our report. We are independent of the trust in accordance with the ethical requirements that are relevant to our audit of the financtal statements in the UK. induding th6 FRC'S Ethical Standard, and w8 have fvlfilled our other ethical responsibilities in accordan with these requbrèments. We believè th8t the audit evidence we have obtained is sufficient and appropriate to provide a b8sis for our opinion. Conclusions rolating to golng concern In auditing the financial statements, we have conduded that the trustees. of Ihe going concem basis of accounting in the preparaknon ol the financial statements is appropriate. Based on the work we have performed, we have not idenlified any materi81 nrtaintieS relating to events OT conditions that. indwidually or collectively, may cast significant doubl on the trust's ability to continue as 8 going con for a pgriod of at least iwefve months from when the financial statements are authorised for issue. Our respon5ibilibes and the responsibilaS of the trustees with respeci to going concem are described in the relgvant sections of thi5 report. other infomiation The other infomiation comprises the inforffjation included in the annual report oth8r than the financial statements and our auditovs report thereon. The trustees are responsibl8 for the other information contained within the annual Teport. Our opinion on the financial statements does not cover the other infottTtation and, eXpl to the extent olherw15e explicitly staled in OLSr report. we do not express any fomi of assurance conclusion thereon. Our respc*nsibility is lo Tead the other informalion and. Sn doing so. consider whether the other infomiation is materially inconslstènt with the financial statements or our knowledge obtalned in the course of the audit, or Othnls& 8ppèars to be materially misstated. If we identrfy such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to 8 material misstatement in the financi81 statements themselves. If, based on the work we have performed. we conclude ihal there is a material misstatement of this other infoTmation. W8 are required to Teport that fact. We have nothirvJ to roport in this regard. Oplnions on other matt•rs prescribed by the Compani$s Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the trustees. report for the financial year for which the finan(ial statewneftts are prepared. which includes the directors, report prepared for the purposes of company law. is consistent with the financial statements.. and the directors, report included within the Iruslegs, reKK)rt has been PTepaTed in ac(x)rdance with ap[Cable legal uiremants.
THE TEAMWORK TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE TEAMWORK TRUST Mattèrs on whlch we are requlred to rnport by èxc•ptlgn In the light of the knowledge and understanding of the trust and its environment obtained in the course of the audiL we h8ve not identffjied mateTial tnisstatements in the director5, report indLtded within the tnjslees, report. In th8 light of the knowledge and understsnding of the company and its environment obtainèd in the course of the audit, we have not identified material misstatemenis in the trustees. reFK>rt. We have rK)Ihing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to Teport lo you il. in lT opinH)n: adEquate accounting records h8ve nol been kept, or retums adequale for our audit have not been received Irorn branches not visited by us., or the financial statements are not in agreement with the accounting r6cords artd retums- or certain disclosLsres of trustees, rernuneration specyfied by law are not made,. or we have not reiVed all the infomiation and explanations we require for our audit.. or the truslees were not entitled to prepa the financial stst8m9nts in accordance with the small companies regrme and take advantage of the small companies, exemptions in pparing the trustees. report and from the requirement to prepare a strategic report. Re$ponslbllltles of trustees As explained more lully in the statement of trustees. responsibiltti8S. the trustees, who are also the director5 of the trusl for the purpose of company law. are responsible for the preparation of the financial statemènts and for being S8ts"sfied that they giv8 a true and faÈr view, and for such intemal control as the trustees d8t8rrnine is nece&%ary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or erroT. In prepanng the financial stslements, the trustees are responsible for assessing the trust's ability tr) continue as a going conrn, disdosing. as applicable, matters relatod to going concem and using the going concem basis of accounting unless the trustees either intend to liquida19 the oharilable company or ks cease operations, or have no realistic 81tem8tiv8 but to do so. Audltorfs r•sp0Tr5ibiliti•s for the audit of the financial stat•m•nts Our objectives are to obtain reasonabl8 assurance about whether the financial statements as 8 whole are free from material rnisslatemenl, whether due to fraud or error. and to issue gn audilorfs report that includes our opinion. Reasonable assurance is a high level of assuranc8 btrt is not a guarantee that an audit conducted in accordance with ISAS IUKI wÈll always detect a material misslalement when it exists. Mi55tstoments can arise from fi8ud or error and are conside material if, individually or in the aggr8gate. they could reasonably be expect8d to influence the economic d&cisions of users laken on the basis of these financAal statements. The exient to which our prOdureS arg capable of detecting irregularities, induding fraud, is detailed below.
THE TEAMWORK TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF THE TEAMWORK TRUST Because of the Énh8r8nt limitations ol an audit. there is a risk thal we will not detect all irreguiarilie5. incjuding those Igading to a material misststement in the financial statements or non-compliancè with regulation. This risk increases the more that compliance with a law or regulation is re¥noved from the events and transactions reflected in the financial statements, as we will b8 lèss likely to become aware of I[tanceS of On-COmplianCe. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery. collusion. omission or misrepresentation. As part of an audii in accordance with ISAS IUKI, we exercise profelOnal judgement artd maintain professional s¢epticism thrghOul th8 audit. We also perform the following procedurtrs: Enquiry of managetnent, those charged with govemance around actual and potential litigatson and claims. Enquiry of entlty staff in tax and Complian( functions tr) identify any instances of non-compliance with laws and regulations. - R8vi8wing minutes of meetings ol those charged wth govemance. Reviewing f*n8ncial statemerlt disclosures and tèsting to supporting documentat¥)n to 8sse8s complkgnce with applicable laws and regulations. Audikn"ng the risk of management OV8rride of contro, induding through lestlng joum31 entries and other adjustments for appropriateness. and evaluating the business raUonal8 of signtficant transactions outside the nomial course of business. A further description of our rèsponsibilities is available on the Financial R8pothng Council's website at. https'.11 www.frc.org.uklauditOTsrespK)nsibilities. This de5CriPtion foms part of our auditorfs report. Use ol our report This report is rnade solgly to th& charltsble company's members, as a bo(ly. in accordance with Chapter 3 of Part 16 of th8 Companies Act 2006. Our audit work has been undertaken so that we might 5tste to the charitsble company's members those matt8rs we are qUired to slate lo them in an auditors, report and IOT no other purpose. To Ihe (ullest extent permitted by law, we do not accept or assume responsibility lo 8nyon8 Oth8r than the charitable company arKI thè charitable company's members as a body. for our audit work. foi this rew)rt, or for the opinions we have fofmed. Charlotte Toemaes BS¢ FCA Isonlor Statutory Audltor) for and on behalf of Ellacotts Audit S+ICes Llmlted Chartered Accountsnts Statutory Auditor Vantage House 2700 Kettering Parkway Ketteiing NorU)atnptonshire NN156XR 21112122
THE TEAMWORK TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022 Unrestricted Restrlcted funds funds 2022 2022 Total Unrestricted Restricted funds funds 2021 2021 Ttytal 2022 2021 Notes Income and endowments from.. ()onations and legacies Charitable activities other trading activities Investments Other income 28,884 830,031 8,505 1.593 274,886 303.770 830.031 8.505 1,593 142,806 740,967 6,424 2,284 1.074 359.011 501,817 740.967 6,424 2.284 1,074 Total Income 869,013 274.886 1.143,899 893,555 359.011 1,252.566 Ex ndltur• on: Raising funds 6,938 6.938 5.135 5.135 Charitable activities Programmè PTovisiori Soctal Ent8tprise Trading 789.559 437.921 1,227.480 790.740 301,549 1.092.289 52.fj80 1,546 54.226 62,388 4.693 67.081 Total charitable WAp•ndltur• 842.239 439.467 1.281.706 853.128 306.242 1,159.370 Totsl expenditur• 849,177 439,467 1.288,644 858,263 306,242 1.164.505 Net gainslllossesl on inv8stm&nts 13 4,498 4.498 101.484 101,484 Not movement in funds 24,334 1164,581) 1140.247} 136.776 52.769 189,545 Fund balan al 1 April 2021 372,231 808.987 1.181.218 235,455 756.218 991.673 Fund balances at 31 March 2022 396,565 644,406 1,040.971 372.231 808,987 1.181,218 Thè stateMt of financial actiwtjes indudes all gains and losses recognised in thè y8ar. Al incomè expenditure derive from continulng 8ctivitTe5. The ststetyTrent of financial actiwb"¢s also rxjmplies wth the reqLtirements for 8n income and expenditure account under the Companies Act 2006.
THE TEAMWORK TRUST BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Flxed assets Tangible ass8ts Investments 14 15 378.093 381.125 405,595 381,754 759,218 787,349 Cuyrnnt assets Debtors Cash at bank and in hand 133.981 370,010 47,244 586,158 503.991 633.402 Creditors: amounts falling due within one y•ar 17 1222.2381 1239,5331 Ngt current assets 281,753 393.869 Totsl assets le55 eurr8nt liablllll•s 1,040,971 1,181,218 Incomè funds Restricted ftjnds Unrestricted funds Designated funds General unrestricle(l fijnds 19 644.406 808,987 20 272,062 124,503 155.574 216,657 396,565 372.231 1,040.971 1.181,218 These financial statements havè been prepared In accordance vrith the provisions 8pplicabEe to companies subject to thè small companies regime. The financial statements were approved by the TTUStees on .. C Davie51Chair) Trustee Company Registratbon No. 03254107
THE TEAMWORK TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Notès Cash Ilows from operating aetlvttles Cash labsortjed byygener*ed from oper8tions 24 1214.3531 378.668 Investing activities Purchase of tsngible fixed assels Purchas8 of investments Proceeds on disposal of investments Investment income received 18.515} {7781 5,905 1,593 17,946 16231 9,607 2,284 Nèt cash (usèd Inllgener•tsd from investlng actlvities 11,7951 3,322 Net ¢a5h used in financlng activitiès Net Id8creasellincr¢asg In cash and cash •quivalents 1216.148) 381,990 Cash and cash equivalents 8t beginning of year 586,158 204.168 Cash and cash equivalents at ènd of year 370,010 586.158 10-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Accounting pollcles Charity inforn)ation The Teamwork Trust is a private company limited by guaranteg incorporatèd in England and Wales. The registèred office is Unit O, Sl Marks Road. St James Industrial Estate. Corby, Northamptonshire, NN18 8AN. The members of the company are the trustee's noted in the reference and adtninistrab.ve details page_ In the gvont of the charity bein9 wound up, the liability in respect of the guarantee is limited to £1 per member of charity. 1.1 Accounting convèntion The financial statèments have been prepared in accordance thg trusts Arb"des of Association. th9 Companies Acl 2006 and "Accounting and Reporting by Chariiies= Statement of Recommended Practice applicable to charities preparing their accounts in accordance wÈth the Financial Reporting Standaid applicable in the UK and R9public ol Ireland IFRS 1021 leffective 1 January 20191". The trust is a Public 6enefit Entity as defined by FRS 102. The financial statements are prepared in sterfing. which is the functional CrrICY of the trust. Monetary amounis in these financial statements a rounded to the nearest £. The financial $tstgmènts have been Prepared under the historical c05t convention.The prinupal accounting policies adopted are set out P)elow. 1.2 Going concarn Al the titne of approvtng the financial statements. the trustoes have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable fulure. Thus the tfustees continue to adopt the going con(xm basis of aecounting in preparing the finanaal staternenls. 1.3 Charitable funds Unrestricted funds a available for use at the discretion of the trustees in fvfther8n of their charitable objectives. Restricted funds are subject to specific condittons by donors as lo how they may be led. Th8 purposes and uses of the reslricte(I funds are set out in the notes to the financial statements. Designated funds are subject lo specific conditions as specified by the trustees. The purposes 8nd uses of the designated funds are set otrt in the not8s lo the financial slatements. 1.4 Income Income is recognised when the trust is legally entitled to it after any perforrnan COrltionS have been meL the amounts can be measured reliably, and il is piobable th8t IllEome wll be Ceived. Cash donations are r8cognisèd on r8e•ipt. Oth8r donations are recognised once the trust has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received undei GIftd or deeds of covenant is recognised upon receipt. 1.5 Expenditur• Liabilities are CogniSed as resources expended as won as there is a lègal or constnjctrve obligation committing the chatty to the expendrture. All expenditure is accounted for on an accruals basis and is r8eognised in the period to which it relates.
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continuodl 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequenty measured at cost or valuatson, net of depreciation and any impaiment lossgs. Deprecialion is recognised so as to write off the cost or valuatron of assets less their residual values over their usefvl lives on the following basts.. Freehold land and buildings Plant and equipment Fixtures and fittings Computers Molor vehides Office Equipment Cant8èn Equipment 2.5% 15°h 20% 33% 25% 33% 25V The gain or loss arising on the disposal of an asset is detemiined as the dtfference betweèn the sale proceeds and ihe carrying value of th& asset. and is r8cognis8d in Ihe ststernent of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially rneasured al transaction price excluding tr8Tr5acIK)n costs. and are subsequenuy measured at farr value at each reporting date. Changes in fair value are recognisèd in net incomellgxpenditurg) for the year. Transaction costs are expensed as incurred. 1.8 ImpaiTment ol fixed assets Al each reporting end dale. the tnjsl reviews the carrying amounts of its tangible assets lo detemiine whether there is any indication that thosè assfyts have suffered an impairment loss. If any such indi(3tion exists. the recoverable amount of the assel is estimated in order to dètèmiinè the &xient of the impairment loss lif anyl- 1.9 Ca$h and ¢ash 8qulval•nts Cash and cash equivalents include 5h in hand, deposits hekl at call with banks, other short-lemi liquid inveslments with original maturities of three months or lèss, arhd bank overdrafts. Bank overdrafts are showrh thin borrowings in current liabrlities. 1.10 Flnancial instrumènts The tnjst has elected to appty the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Finanrial Instwments Issues, of FRS 102 to all of rts finanaal instruments. Financial in5tnJm8nts are cOgniSed in the trusfs balan sheet when tho trust becomes paty lo the contractual provisions of the instrument. Financial assets and liabilihes are offs8t. with the nel aTnounls prSented in the financial Statements. when there 15 a legally enforceable right to set off the Tecognised amounts and there is 8n intention lo settle on a net basis or to realise the asset and settle the liabilty simultaneously. Basic ffnanclal assets Basic financial assets. which indude debtors and cash and bank balances. are initially ¥neasured at tr8nsaction price includÈng transaction costs and are subsequently carrièd at amortised cost using the effeclive interest method unless th8 arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future reipts discounted at & market rate of inleresl. Finanaal assets dassffied as receivable within one year are not 8rn0rtised. 12-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (Continued) Basic financial liabiltties Basic financial liabilthes. including creditors and bank loans are initially rewgnised at transacb.on pri¢e unless the aTrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the futsJr8 payments discounted at a market rate of interesl. Finanaal liabilities classified as payable within one year are not amorti58d. Debt instruments are subs8quenY ratried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classiffed as CUTtent liabilÉties rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade ¢r8ditots arè recognised initially 8t transaction 8nd subsequendy measured at arnorti5gd cost using the effective interest method. Derecognition of financial liathlities FinancAal liabilitiès are derecognised when the trust's covhtraciual obligations expire or aTe discharged or ancèlled. 1.11 Employ•• beneflts The cost of any ur¢used holiday gntitlemont is recognised in the period in whlch the employee's S8C&S are eived. Temiinalion beneffts are recognised immediatety as expense when the Ifust is dernonstrably committed lo lem)inate the ernployment of an ompk)yee or to Provide terrninalion benefrts. 1.12 Retlr•mènt benefits Paym8t)ts to defined contribution r8tir6mnt benefit schemes are charged as an expense as thèy fall due. Crittcal accounting estimates and judgements In the applicatton of the Irusl's accounting poli¢i8s. the trUStS are required to mak8 judgements, estimates and assumptions about the carying amount of asse15 and liabilities that are not readily apparent from olher sources. The eslimales and as%>ciated assumptions are based on historical experienee and othei factors that are considered to be relevant. Actual resUS may differ from these estimates. The eslimales and underlying assumptions a rèvièwad on an ongoing basis. Revisions to acwunting estimates are recognised in the period in which the estimate is revisgd where the revision affects only that period, or in Ihe period of the revision 8nd future riOdS where the revision 8ff8cts both curr8nt and futurg periods. Donations and legacies Unr•strlet•d R•strlcted funds funds Total Unrestricted funds Restricted funds Total 2022 2022 2022 2021 2021 2021 Don8tlOll5 8nd gffts Grants 10.271 132.535 720 358.291 10,991 4.826 22.000 274.887 296,887 28,884 274,886 303,770 142.806 359.011 501.817 13-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Charltable aetivltles Health and Hèalth and Soclal Care Soclal Car• 2022 2021 Programme provision Social enterprise trading 803.692 26.339 708,766 32.201 830.031 740.967 Oth•r tradiny activitie5 Unrestrlet8d Unrestricted fund5 fund5 2022 2021 Fundraising events Rental of non4nvestment property 6.205 2,300 695 5,729 Othertrwjing actNibes 8.505 6,424 Investments Unrestrfcted Unrestricted funds funds 2022 2021 Investmenl i[0M& Bank interest 695 1.720 1.593 2.284 other incom& Total Unrestricted funds 2022 2021 Other incomg 1.074 14-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2022 Raising funds Unre5trlcted Unrestricted lunds funds 2022 2021 Fundraisin and bli Staging fvndraising events 1,114 Inv8Stm8nt mana emen 5.824 5.135 6,938 5,135 Charitabl8 activitigs Programme Soclal Provlsion Entèrprise Trading 2022 Total Programm• Social 2022 Provislon Enterprise Tradlng 2021 Total 2021 2022 2021 Staff costs Deprlation 3nd impairnient Direct Costs 707,541 35.797 743.338 595,113 40,301 635,414 1.000 9.184 1,000 372.471 3,999 15,890 3,999 382,136 363,287 366,246 1.070,828 45.981 1,116.809 961.359 60.190 1.021,549 Share of support costs IsÈ8 note 101 Share of govemance costs (see note 101 142,692 7.510 150.202 123.543 6,502 130.045 13,960 735 14,695 7,387 389 7,776 1.227,480 54,226 1.281,706 1,092,289 67,081 1,159,370 Anatysis by lund Unrestricted funds Restricted fvnds 789,559 437,921 52.680 1,546 842,239 439,467 7,740 301,549 62.388 4,693 853,128 306,242 1.227.480 54,226 1.281,70fj 1.092,289 67,081 1,159,370 15-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 10 Support eo$ts Support Govwnancè costs 2022Support costs GovÈmance costs 2021 Staff costs Depreciation Rècruitsnent Computer sore Sundry Exp8nditure Training, Travel & Subsisten 8ad Debts 97.419 35.010 11.408 2.84S 360 97,419 35.010 11,408 2,845 86.520 36.123 86,520 36,123 2.322 246 2.322 246 889 2.271 889 2,271 204 4,630 4.630 Audit fees Accountancy Lagal and professional Refrgshments AGM and Truslee Recruitment Costs 5,900 1,350 5.900 5,500 1,SOO 776 5,500 1,500 776 26 26 7.419 7.419 150.202 14,695 164,897 130,045 7,776 137.821 Analysed beeen Chariiable aclNities 150,202 14.695 164,897 130,045 7,776 137.821 Governance costs includes payments to the auditors of £5,90012021- £5,500} for audit fees. 11 Trusteès None of the trustees lor any persons connected with them) rec8iV8d 8ny MneratiOn or benefits from the trust during the year12021'. none). 12 Employees The average monthty number of employee8 during the yg8T was.. 2022 Number 2021 Number 39 39 Employm&nt costs 2022 2021 Wages and salaries Social security costs Other pen8V)n co*s 733,701 80.580 26,476 649.228 45.980 26.726 840.757 721,934 16-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 12 Employ8•S {Continu•dl The total employee remuneration and benefits of the key management personnel of the Charity were £17LI.09212021: £81,902). During the yeaf the charity made no Ex-Gralia paentsI2021. £nill. 13 Nèt galnslllossesl on investments Unr8stricted Unr881ricted funds funds 2022 2021 Revaluation of irTrv8stmènts Gainlllossl on sal& of investsments 4,498 97.073 4,411 4,498 101.484 17-
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THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 15 Fixed ass•t Investnt•r Llst•d Investments Cost or valuation At 1 April 2021 Additions Valuation thanges Dlsposals 381.754 778 4.498 15,9051 Al 31 March 2022 381,125 Carrylng amount At 31 March 2022 381,125 At 31 Mar¢h 2021 381.754 16 Debtors 2022 2021 Amounts falling due within one year: Trade debtor Other debtors Prepayments and accrued incomg 100,622 35.628 13 11.603 33,359 133,981 47,244 17 Crgdltors: amouDts falllng due withln one year 2022 2021 Notes other tsxation and social security Deferrèd Income Trade (*editors Other creditors Accruals and deferred income 69,528 68,167 29.808 2.039 52.696 23,694 140,785 28,360 4.661 42.033 18 222,238 239.533 18 Dof•rr8d Income 2022 2021 Other d81èrred income 68,167 140.785 19-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 18 Deferred incomè (Continued) Dèferred income is included in the finan(ial statements as follows". 2022 2021 Deferred income is induded within.. Current liabilities 68,167 140,785 Movemenls in the year. Deferred income at 1 April 2021 Relaased from previous periods R950urces deferred in the year 140,785 {140,7851 68.167 140,785 Deferred income at 31 March 2022 88.167 140.785 19 R•strlct•d funds The income funds of the charity in¢lude restricted funds comprFsing the following unexpended balances of donations and grants held on trust for specific purposes- Movèmont in funds Incoming Rtrsour¢es Balance at resources expended l April 2021 Movèment in funds Irwrnlng Re$ovrces e50UIC xptrnded Balance at 1 April 202 Balance at 31 March 20 Community Chatnpions Community Fund.. Gardening Comfnunity Fund.. Reaching Comrnunilies Cornmunity Fund.. Variation Project CO-OP Dtgital Transfonnat•) 10.000 110,(K)01 8.920 14,6931 1450) 85.532 167.360 {192.3651 60.527 85,831 1146,3581 100,000 1,723 113,8291 86,171 3,172 188,1711 1.449 3.172 17,505 9.349 3,737 17,7561 13.486 9,349 2,680 (1,989} 14,1TI 9,349 Harws Fund HMRC Job Retention MHNC NCC Infection Control NEP- Building Better Opportunities 1,273 4,590 11,2731 1105} 4.485 121.988 1121.9881 948 37.860 136,7171 2.091 38,524 139,4891 1.126 -20-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 19 R$stricted funds Iconttnuedl New 8uilding Fund North Northampton shire Counctl Post¢ode Lottery Servic@ Delivery Fund Time to Change 408,320 408,320 408.320 33,115 10,179 143.2941 10,000 110,0001 19,232 19.232 {19,2321 200,000 200,000 200,000 10,000 17.5881 2,412 12,4121 756.218 359,011 (306.2421 808,987 274,886 1439.467) 644.406 Communlty Champions Collaboration with made with many and Support Northamptonshire to provide information and support around ovid vaccination coionavirus. part of the covid relief funding lor disability and BAME groups who were most at risk from Communlty Fund: Gardening This Lottery funded project was almed at d&v81oping an outdoor offer durfng the p8ndemic to ensure that service users rxjuld continue lo participate in meaningful activity whilst allowing us lo develop an understanding of demand for a Gardening and Grounds mainttrn4n social enterprise. Communlty Fund: Raaching Communitl•s Three year grant from National Lottery Community Fund that builds communty resilience and social capital that will lead to sustainable actrvity-, individuals will have 8 true voice the govemance and direction of the services that they asS and therefore be able to take part in th8 design and delivery of those servic£s. Communlty Fund.- Varlatlon Project This lottèry funding supported Teamwork through the Lod(dowrks and pandemic period to review and evalyate the programmes it offered and to find ways to ensure that they were sustainable and appropriate to need. It also ensured that we were able to continue to respond to the needs of our clients throughout the year. Cowop Funds were received from c0p for the fft out of the Men's shed in Wèjlingborough. Dlgital Transtomiatlon Ongoing digital transformation project moving Teamwork towards a doud based Soltion. -21-
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 19 R•striet•d funds (Continued) Harry's Fund A Fund that allow5 individuals to b8 part of a comtRunity wth purpose, structurè, new friendships and work experience. HMRC Job Retention Funding claim for some ernployees put on Ilexible furfough because of coronavirus (Covid 191. MHNC Funds for Teamwork for infrastruoturg d8veiopment for the MHNC to incroase (pa¢ity to d91iver services. NCC Irrfection Control The primary purpose of ths was to support local authority care providei to redu the rate of Coronavirus transmission and support wider workforce resilience. NCC aL¢dit teams are in the process of reviewtng how this money w8$ spent at NCC and therefore it remains restricled. NEP.. Building Bèttèr Opportunltl•s Teamwod( is working as a delivery member of Commsortia who is a delivery partner along with the University of North8mpton in the Working Progress project for the EtJTopean Social Fund and Big Lotterls project "Building Better Opportunities.. This proleci is supporting people who are unemployed or eCormI¢allY inactive to move closer lo the job market. New Building Fund Funds were received from Corby and WellingboroLtgh councils towards the new buildings at Wellingborough and Kettering and r8furbishmerht ¢osls 8t CoTby. The balance will be u58d lo fund fuiurÈ depreryation of these buildings. North Northamptonshire Council Funding to support Wellbeing Project development. Postcode Lottery Funding from the Peopl8s P05tcode Lottery to m88t the m8nt81 health need5 of those tno$l affected by the pandemic in Wellingborough. The Black counselling project is being delivered lo people from Ihe 8AME community by qualffied peèr counsellors from the BAME community. Service Dellvery Fund The Trustees have decided to set up a fvnd to protect the supply of services due lo the uncertainty in local atjthority long term funding for our programmes. Tlme to Chang• Funded by Public Health Northanls to MHNC- this funding was to support the development of a Time to Change Organic lunfunded by the national project) Hub. It paid for a day per week salary tor one workèr from Tfjamwork to promote the removal of stigmas around Mental Health.
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 20 Deslgnated funds The income funds of the chartty include the following designated fijnds which have been set aside out of unrestricted funds by the trustees for specific purposes". Movement in fund5 Balance at tn¢omlng R8sour¢68 1 Aprfl 2021 èxpend Balarkce at l Aprll 2020 Trnnsfers Tvansfer BaSan¢e at 31 March 2022 C(nSellIng Training Counselling Provision Wellbeing Wellingborough Buidling Redevelopment Mental Heallh Service Development Heallh and Social Care Devglopment Relocation of Corby 3,074 3.074 3.074 2.500 2.500 12,5001 {3181 318 50,OOLI 50,000 118,988 168.988 50.000 50,000 50.000 25,000 25,000 25.000 25,000 25,000 25,000 5.574 150.000 155,574 318 12.8181 118,988 272.062 Counselling Training Funds reived, towards counselling thBt are going lo be used as start up money, for courwlling to provide training courses with the iT)tsntion of recycling the money tr) provide more trasning cour8e8. Counselling Provision Funds designated towards the development of the counselling provision. Wellbeing Funds designated for the development of the W911being offer. Wellingborough Building R8dev•lopm8nt Redevelopment of th6 W$llingbtsrough building for improved social enlerpfise opportunities. Mental Health SeThlce D•v$lopm•nt Funding head of Mental health for a year enabling servtce devekipm8nL HeaFth and Social Care Development Support for the NASS living and leaming contract enabling service development and contract compliance. Relocatlon of Cort)y Initial work on investigation on tK)ssibl8 r8loc81ion of Corby site.
THE TEAMWORK TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 21 Analys1$ of net a$sots b¢tw••n fvnd$ Unre$trided Restricted funds funds 2022 2022 Total Unrestricted funds 2021 Restricted funds 2021 Total 2022 2021 Fund balances at 31 March 2022 are represented by.. Tangible asseis Investments Current assetsllliabilittesl 378.093 200,000 66,313 378,093 381,125 281.753 405.595 200.000 203.392 405.595 381.754 393.869 181.125 215.440 181,754 190.477 396.565 644,406 1.040,971 372,231 808.987 1.181.218 22 Op•ratlng l•as• commltments At th8 reporting end date the trust had ouistsnding eommitm9nts for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2022 2021 Within one year Beeen and five years 4,078 7,212 1.8 473 11.290 2.363 23 Related party transacllons During the year the charity received grant monies totalling £92.86712021 - £67.4071 from the Mental Health Northants Collaboration to which a member of the senior management team is a Trustee. 24 C4sh ggnerated from operations 2022 2021 IDeficilysufPU5 for the year (140,2471 189,545 Adjustments for.. Investment income recognised in statement of financial activities Gain on disposal of investments Fair value gains and losses on investments Depation and impairment of tangible fix9d gssets 11.5931 12,2841 14,4111 197.0731 40.122 14,491} 36,012 Movements in working capital.. Iln¢rea5eydeorease in debtors Increase in creditors IDecrea8e}Iincrease in defeed income {86,7371 55,321 172,6181 95,321 16.663 140,785 Cash labsort)ed byygenerated from operatlons 1214,3531 378.668 24-