Company number 3341420 Charity number 1064848 Options for r)life OPTIONS FOR LIFE (A Company limited by GuarAntee) Financial Statements Year ended 31 March 2021
OPTIONS FOR LIFE LYDEX Charity Informatioo Directors, and Trusttts. Report Report of the Audltors Ststejnellt of FiDaD¢ial Activitles io B¥lan¢¢ Sh¢e¢ li Casb Flow Statement 12 Notes to the Finatteial Ststements 13
OPTIONS FOR LIFE
CHARITY INFORMATION
Directors
Alan Daffern Harriet Moat Deborah White Nicholas Kirby Alma Aganovic Rebekah Roebuck
Charity Number
1064848
Company Number
3341420
Charity correspondence address
Oak Green Lodge Oak Green Way Oldbury West Midlands B68 8LR
Auditors
Mazars First Floor Two Chamberlain Square Birmingham B3 3AX
Bankers
Lloyds Bank plc 125 High Street Birmingham B17 9NP
Chief Executive Officer
Nicola Thomson
1
oprioNS FOR LIFE DIRECTORS. AND TRUSTEES, REPORT The Directors present iheir report and fllwicial statements for the year ended 31 March 2021. GoY¢rnitLg Docujnent The organisation is a charitable COllLpany liinited by guarantee, incorporaied on 27 March 1997 and registered as a Cbariiy on 13 Ociober 1997. The COpanY was established under a Memorandum of Association which established the obje¢is and powers of the charitable company and is governed under its Articl¢s of Association. In Ihe event of the company being wound up the members ar£ required to contnbute an amount not exc¢¢ding £1. Director5 •lld Trustees The Board of TNstees is the gov¢rnin¥ body of the chan'ty. The Board of Directors is the governing body of the mpany. Selection of Trusie¢s is by application to the Board of Trustees and is managed by the Chair and broughi Board of Trustees Meeiings for approval. Selection of Directors is by a vote of the Trnstees. The policy is to r[u1¢ people to be Tne$ with knowledge. s&ills and experience relevant to the aims and objectives of the charity. Docutnellts detailing the legal structure, organisatio fmances and managernent of the company, which are regu]lY reviewed. are provided ¢0 all Board of Tntstee mernbers to facilirate effective governance of the charity. In additioty they are provided with training suppon and practical experien¢e of the day to day running of the charity. The Board of Trust¢¢s rn¢¢ts on a regular basis to llLanage the affairs of the charity and formulate policy. The Chief Executive manag¢$ the day to day nillg of the charity asslsted by Full time and part tirne empltsyees. No Trustee receives any payment for ¢wing out their duties and none of the trust¢¢s has any beneficial intertgt in the company. Rlsk Managem¢nt A rjnallce conmiittee, which iThclude8 representati¢)n from the Board of TnJstee5, meets regularly to assess finattcial plaDDing Matr$ and r¢view measures to Gontrol risk. A comprehensive risk register is carried out anttually and reviewed bi-aJ)nually. Exiernal risks, which primarily c¢)ncern funding, are continua]ly addressed by closely tnanagiog the quality and cost effectiveness of all our contracts. identifying are&8 for new grant applications and ensuring adequate cash resee$ are constantly aIntained. An on-goiDg review of key operdtional and financial prwess¢s and procedures combitie miugat¢ against any potential internal control w¢aknesse5. Missloll and VIsioD Statement "We h¢lp people with learning disabilities anWor autism to fulfil their potential and live a 11 and hwy life within their community" ObJectiv¢s of tbe Chartty The charity's objectiv¢s ar¢ to enable people with learning disabilities to advance thelr personal development and lead a full life within the ¢omrnunity. The aims and policles adopted in fithere of these objectives are: _ To work in parth¢rship wid4 and complementary to, other service providers. To pn)rnote equality of leisure, sla1, WOTk and recreational opportunities within the community for people with a learning disabiliry andlor autism. To increase public awareness of the positive wntribution that people with a leaming disability catj make. To rtto8nise different abiliii¢s and needs and aim to respond to these on an individual basis. To treat staff, volunteers and people witlL leaming disabilities an(Vor autism with equal value. These were changed alld adOpd by special resolution on 20 February 2017 and are now as follows.. -
oFrIoNS FOR LIFE DIRECTORS. AND TRUSTEES. REPORT The Charity's object are for the pllblic benefit..
The enablement of people with learning disabilities andlor autism to and advance their personal development and to integrate inio and lead a full life within the community. The advancement of public awareness of the needs of the contribution made by people with learning disabilities andltsr autism. The development and dissemination of good prdctice in relation to the support and personal development OE people with learning disabilities andlor autism. Review of Aetivities and the Impaet of the Covid 19 outbreak The chanty nortnally operdt¢s from a nUber of locations aeross Sandwell, providing support and OpportiltIeS for people with learning disabilities andlor autism. OD Monday 23 Ma 2Q20 Sandwell Council announced tbat 11 day ¢entres were to close and subsequently all $upp(Trrt activities had io stop. Tbis had a huge detritnelltai itnpa¢t not only for Options for Life but a150 to our parti¢ipants. All suppon staff were placed on rItsugh leaving 9 head offic¢ staff Working from home. During that titne the priority was to adapt our Service be in a position to offer Support to our most vulnerable parti¢ipaDts. On July 2nd 2020, we began offeriug an Outreach setvice. This service was off¢ring our participallts tbe opportunity to have one to one 5UPEK)rt out in the community from l Lo 6 hours per day, 5 days per week (depending on contrdcts). This proved successfvl, however witb the additioDS of lo¢aVnauonal lockdowns sOe fa]nIlieCarer. didn't feel confident Sending their loved ones out for support. This impac1 on the hours of support which fluctuated froin July 2020- March 2021. However it has Steadily grow in July 2020 we were providin¥ support to 42 participants {890 hours per monthl compared to 71 parti¢ipants having 2.260 hours of support in March 2021. In the early days of the new outreach support the knock on ¢ffect from this was not enougb hours of work for all support siaff. In Novetnbu 2020 we unfortunately took the de¢isiou to announce that all $upptrrt worker jobs were at risk of redundallcy. In total we ld 5 rcsignations, 7 voluntary r¢dundan¢ies end 6 compulsory redundancies whil¢ 5 fv11 time support workers requested to drop one day a week This was a tothl full tt]ne equivai¢nt redu¢ti¢)n of19 support workers. The charity had operated a social business. Oak Green Services, whi¢h provid Dty aJLd gardening service4 ¢0 the lo¢al ¢ommuniiy. The supervisor handed theii notice ID 2 weeks prior to the covid outbreak and due to the initial lo¢kdown a decision was nle to not re•employ and contillue with th25 ventte. Oak Green ServAces ceased April 2020. A¢htevements made in the year included.. Sign off of tbe n¢w Business Development Plan. Submission of CQC registration for domiciliary $upporL Successful 2 year acereditation with Investors in People. Grant fijnded new "Sensory Garden" at Acorn Lodge iticluding a wheelchair swing and percu&sio instrnments. Geneial rnaint¢twJce improvements and re-dKorotion across all our building hubs. Succes¥fully moved fonvard offering Outreach supporL Regisiered with Kickstart for 2 new appreniices. New IT hardware installed across the organisation to include Windows 10. Public BeDefil In plamiing our activities, th¢ Ttee8 and management team keep in mind the Cbarity Commission'g guidance on public benefit. We welcome all clients regardless of p¢rsonal ba¢kgrounC fall gellder or personal circumstance8 and we believe this philosophy of openness to all enri¢h¢s ¢veryone through the sharing of 8ki118 aptitudes and life experiences of our client group. Our objectives alld funding limit ihe servtces we provide mostly to adults with learning disabilities andlor auttsm. We are aware that adults with learning dis&bJ]ities andlor autisrn have relatively poor access to health services in relation to the public as a whole and we have a strong focus on breaking down the barriers to access these in order to improve both the quality of b'fe alld life expecrancy of our participants. The ages of the adults with learning disabilities andlor autism that we support bas gradually increased a8 life expectancy has increased over the last ten years. This has presented new challenges a8 they have had io ¢ope with an incttase in age related health conth"tions. The impact of the work thai Options for Life does, goes far Ewond the individual
OPTIONS FOR LIFE DIRECTORS. AND TRUSTEES, REPORT participants that we support as their families are able to for far longer than they would otheThvise be able on their own. Review of f#tIll position The income of the charity for 2020121 was £1,653,167 (2019120.. £2,195.7281 and exndIlre was £1,359.885 (2019120.. £2,109,400). This resulted in a net income surplus of £293.282 reducing to £285.036 if the restricted fidS surplus of £8.246 is excluded {2019120 nei surplus £86,328). The charity's balance sheet reflects an increase in fldS due to the 20201218urplus. There was considerable uncertainty at the start of the fanCial year as fLmding arrangements with our main commissioners during closure were being discussed. In the meantime OptiODS For Life stsrted to claim monthly Job Retention Scheme grant from April 2020 for our rIollgh staff. W¢ continued to claim this grani up to the end of October 2020. By October Sandwell Council {SMBC) had confjrnied their financial support package. Continuing to make payments based on our level of provision prior to the Covid 19 outbreak alld ¢losuTe. This welcome financial support provided stability. The continued SMBC support and government grant asyistance has offset our reduced operational costg during 20121 and is the main reason for the fmal SUTpIu8 for 2020121. Reserves policy It Is the policy of the charity to establish designated reseTve ndS to manage any potential financial risks to the viability of the OTganization. The level tsf reserves links io tsur fManc1 assessment of riqks that the orKanization faces over the medium terni 2-3 year period. In the light of the Covid-19 vin]s outbreak the charity faced unprecedented fmancial uncertainty and in 2019120 the level of designated reseryes was significantly illcrea5ed to £685.000. This refleCd increased potential operational deficits from reduced incLime as well as provisions for sratutory obligations to sthff if the organization was forced to clos¢ and pot¢ntial additional on-going costs from the rising Naiional Living Wage over coming years. The basis of the reserves has been reviewed for this sthiement and our biggest fuwicial threat is IntaInIng our level of itiCOULe to covei all costs especially while doubts over re-opening dat¢s of buildiDXS and capacity levels, retUrnll participant numbers and Ture contract tern are uncertain. W¢ know there will be challenges presented from continuing finan¢ial ausierity to local Councils and lo¢al Clinical collulli10llJng Groups {CCGI from where much of our funding is derived. We have taken account of these factors and potential reduced income within our 2 year budg¢t proj¢¢tions and ¢onsider¢d oth¢r on-going risks such as the National Living Wage rises. As a result of th¢$¢ risks it Is now ¢onsid¢red prudent to s¢t aside £712,000 within our designated reserves for the period from 20121 onwards. The Senior Leadership Team and OUT thtee$ will coniinue to monitor ¢losely our risks and fllw)¢ial perfornian¢¢ during 2021122. FulMr¢ Dev¢lopJllenls On 5, November 2020 at an EGM meeiitig with the tsustees a new Business Dev¢lopment Plan ptoposal was agreed and took place witb Rmmediatr effect. This considered a new business model aT off¢r of our services in a pobi Covid world and included a re8tructuTe of services and staff. This will mod¢rni8¢ and redesign our offer with the of b(]8 tbe leading provider of services to PIe with learning disabilities andlor autism in S8ndwell. W¢ will hav¢ moved away ftt)m the notion of being a 'building based. service and focus on a fully community iniegrated, person-¢¢nt¢red delivery setvice. We want to ensure that we tackle the irnpact of social isolation alld loneliness for people with leaming disabilities, by enabling independence through work experience, paid employrnent and volLmteering. We recognise the impact that self-directed gupport can offer people with learning disabilities andlor autism to have gr¢at¢r choice and control ill th¢ir lives. We want to support our participauts to develop new skills and hold on to existill8 skL'II5, wh¢th¢r this is supporting them in their own home or acce&8ing eommuniry sessions. There is likely to be a move away from d8ily rates towards the intrrKlu¢tion of hourly rdtes for I: I suppon (cost dependent on levels of support needed). Hours of servi¢es will b¢ d¢fllLed tbrougb parent&lcarers. participants and So¢ial WorkerL0¢81 AuthoTity and CCG. Any new support workers employed to meet demand are likely io join Options f(Trr Life on flexible working contract$, rdther tban Mon- Friday. 9 till 5. This will give us more flexibility to better meet the tUre needs of our participaDts.
OPTIONS FOR LIFE DIRECTORS, AND TRUSTEES. REPORT Employees and Remuneratlon The charity opentes policie5 based on a range of issues including those to ensure thai no diserimination 1$ made against any employee or participant based on their disabilities, ttge, gender or ethnicity. Due to financial uncertainty arising from Covid 19 outbreak ir was agreed by the trustees that no pay award could b¢ agreed for staff from l April 2020. During 2020121 all support worker and other staff on furlough have been paid at least 80fy/0 pay cven whilst our buildings have been closed. Any worked hours and aecrucd l¢ave has be¢n paid at IOOD/o. Withdrawal of the United Kingdom from tbe European Union The Trnstees hav¢ ¢onsidered the effect of the withdrawal of the United Kingdotn from the European Union and to dale it has not had any material impact on the busine&8 of the charity. Direetors l Trn$tee$ The Directors, who served during the period, are showTh below and all are twsttts. Alan Daffern Deborah WThite Nick K)Y Harriet Moat Alma Aganovic Rebekah Roebuck (appointed 20 July 20201 Indemnity provision for Directors Indemnity insurdnce has been taken out for all Directors and Trustees for any pOtlIa1 claim risk io value of £2 Tnillion {2020 £2,000,000). RespoD$ibilitle5 of Direetors l Trllst¢e5 The director8 are reswn$ible for preparing the fmanciai statements in ac¢ordanc¢ with applicabl¢ law and Unitsd Kingdorn Generally Accept¢d Accounting Practice. UK cornpaDy law requires the direcicprs io prep$ rUbCIal staL¢ments for ¢a¢h fuwicial year which give a ttue and fair view of the state of affairs of the company and of the surplus or d¢fi¢it of the company for that period. tn preparillg those f]Dancial statements. the directors are required to.. sele¢1 suitsble accounting polici¢5 8nd then apply them consi8tendy,' rnake judgem¢nts and estimatrg that are re&sonabl¢ and PTuden( slate wbetbei applicable UK accounting standards have ien followed. and prepare the fitwicial staiernents on the going concem basis unless it is Inappropria to presume that the ompany will coniinue in business. The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and io etthle them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for the systern of internal control, safeguarding the assets of the cornpany and hence for taking reasonable steps for the prevenuon 8nd detection of fraud and other irregularitits. The flnancial stsmients have been prepared in awordance with the acwunting policies set out in note l ol the financial statements and comply with the charity's Memorandum aTJd Articles of Association. applicable law and the requirements of the Statement of Recommended Praciice (FRSI 021."Accouniing and Reporting by Charities" {effe¢tive October 2019). In accordance with Company law, as the Company directors. we certify thatr. so far as we are aware. there is no relevant audit infotmation of which the company's auditor is unaware.. and
ovrioNS FOR LIFE DIRECTORS, AND TRUSTEES, REPORT as th¢ dire¢iors of the company we have taken all the steps that we ought to have taken in order to Tnake ourselves aware of any Televant audit infomjation attd to establish that the chan"ty's auditor is aware of that information. Auditor Ma74rs LLP acted as auditor of the wrnpany throughout the year aDd will corttinue in o£fi¢e in accordancc with the Companies Act 2006 section 487{2}. En preparillg tILiS report, the Directors have taken advantage of the small cojnpanies exemption provided by section 415A of the Companies Act 2006. Approved by tbe l)oard on l Y OG6&<< ts L ( signed on its bebalf by lla[et Moai Co Chair of the Board of Trustees Nicola Thomson Chief ExKutive Officer.
INDEPEP4DENT AUDITORS, REPORT TO THE MEMBERS OF OPTIOJYS FOR LIFE We have audited the fitjancial statements of Options for Life {the 'charity') for the year ended 31 March 2021 which ¢ompTi$e Stsien)ent of Financial Activities. the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a sutnmary of signifjcant accounting policies. The fir)Cial reporting framewotk that has been applied in their prq)aration is appltcable law and United Kingdom Accounting Stalldards, including FRS 102 "The Financial Reporting Standard applicable ill the UK and Republic of Ire]and" (United Kingdom Generally Aceepied Accounting Practice). In our opinion. the fanCIal statements.. give a true and fasr view of the state of the ch4Tity's affairs as at 31 March 2021 alld of its income aryl expenditure for th¢ y¢ar then ended. have been properly prepared in accordance with Unit¢d Kingdom Generally Accepted Accounting Practice. have been prepared in acc0Tdan with the requir¢m¢nts of the Companxes Act 2(Ml6. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing IUK) (ISA8 IUK)) and applicable law. Our tebpousibilili¢s under those standards are fier described in the Audittsr's responsibilitie8 for the audit of the financÉal stat¢menis seciion of our r¢port. We are independent of the charity in accordance with the ethical requirement5 that are r¢l¢vani to our auth"1 of the firw)cial statements in the UK. including the FRC'S Ethical Stondard and we have fulfilled our other ethical reswnsibilities in accordance with these requirements. We believe that the audit evidence we have obrained is &uffioi¢nr and appropriate to provide a basis for our opinion. Conclu08 r¢lAting to Eolng eoneern In auditing the fmancial $tatement4 we have concluded that the tNstees' use of the 80ing concern b&sis of auounting in th¢ preparation of the finawial statements is appropriate. Based on the work we have perforne& we have not ideniified any material uncertaintie5 relating to events or (Trnditions thaL I]1VidallY or Collectively. may east significani doubt on the charivs ability to continu¢ as a going coern for a period of at least ¢welv¢ months from when the financial slatements are authorised for i&sue. Our responsibilities and the responsibilities of the trnstees with respect to goitig concern are d¢8¢ribed in the relevant sections of this report. Other iDforJllatlon Tbe trute¢S are resnsIble for the other inforniation. The other ]nfOrntiOn comprises the infom)ation included in the Direct(Frs and T2USteeg Rqrn Other than the fllwicial statements and our auditor's report thereon. Our opillion on the f]naDcial statements does not cover th¢ other inforniation and, except to the extent othenyise explicitly stated ill our r¢port, we do not expresg any forn] of assurance conclusion thereon. In ¢onne¢tion with our audit of the fmancial statements, our responsibility is to read the other infotmation and, in doing so, ¢onsider whether the other infomiation is materially inconsistcnt with the fllmncial statements or our knowledge obtained in the audit or otheise appears to be rnaterially misstated. If we Identify such material iuconsisten¢ies or apparent material misststements, we are required to deterniine whether there is a material isstatemenr in the fmancial statements or a material misstaternent of the other imfottnation. If, based on the wo] we have perfornie4 we conc]ud¢ thar there is a material misstatcment of this other inforniation, we are required to report that fact. We hve nothing to report in this regard. Oplnlons on other matters pregeribed by tbe Companles Aet 2006 In our opinion, based on th¢ work undertakell in th¢ Course of the audit.. the inforniation gAv¢n in the Directors. and Tru#tees' Report for the fmaTJcial year for which th¢ fin8n¢ial statement8 are pr¢par¢d is consistent with the financial slatements. and the Directors, and Tnlee$. Report has been prepared in accordance with appli¢able legal requirements.
INDEPEIYDENT AUDrroRS' REPORT TO THE MEMBERS OF OPTIONS FOR LIF Matters wbich Trve aTe required to report by exception In light of the knowledge and understanding of the charity and its envirollmeni obrained in the ¢ourn¢ of the audiL we have not identified material misstatemenrs in thc Directors, and TrLLStee's Report We have nothing to report in respect of the following matters in relation to whi¢h the C(>mpanies Act 2006 require8 us to ryort to you if. in Dur opini(>n'. adequate and pioper accounting records have not been kept, or return$ adu8 for our audir have not been received from branches not VL$Lted by us. or the f]t)ancial statements are not in agreement with the cOUntIng record5 and retrJiiJs' or certain disclosures of tee8. remuneration specific by law are not made: or we have not received all the InfornlI0ll and explanati¢)ns w¢ require for our audit. the Dirtors, were not entitled to prepare the fancial Statements. in accordance with the small companies, regime and tske advantage of the Small companies, exemplioll ill preparing the Directors, and Trusttt$' Report and from the requirement to prepare a Strategi¢ Report. Responsibilitles of Trustees As explained more fully in tIL¢ trust¢e$' r¢$pollsibiliti&S 8tatement set out on page 6, th¢ ITUStees (who ate also tbe directors of the ¢haritable cotupany for tbe purposes of company lawl are responsible for the preparatioll of the [ancIal Stat¢entS and for being satisfied that they give a e and fair view, and for such illternal contrr>l a5 the trustees deterrnille is neee8sary tL¥ enable tbe preparation of flnancial stat¢m¢Dts that are free fro matcrial tllisstatejnent. whether due to ftaud or error. In preparing th¢ fJnan¢ial stat¢menLs, the trustees are reSnSIble for assessing the charity's ability to continue as a going ¢on¢enL dis¢losing, as applicable, mattets related to going concern and using the going concern b&sis of accolting unless the tTUStees either intend to liquidaie the chariry or to c¢&se operations, or have no realistic altetnative but to do so. Audltor's respoDslblllde5 for the audit of the fjnancial statemellts We have been appoinied as auditor under section 144 of the Chariiies Act 2011 and retK)rt in accordance with the Act and relevamt regulaiions made or having effect thereunder. OUT obje¢tsves are to obtain reasonable assurance about whether the f]nancial Staments a5 a whole are free from rnalerial misstatemenl whether due to fraud or error, al to Issue an auditor's report that includes our optnion. Reasonable assurance is a high level of assurance but is not a 8uarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatetnents can arise from fraud or error and are considered material if, individually or in the aggregate. they ctsuld reasonably be eXPted to infiuence the economic decisions of users tsken on the basis of the financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our ponsibIlItI28, outlined above, to deteci rnaterial misstatements in respect of irregularities. including fraud. Based on our understanding of the Group and its actitIes. we identified thai the principal risks of non- compliance with laws and regulations relatcd io the anti-bribery, corruptitsn and fraud, money laundering. and we considered the exnt to whi¢h non-compliance might have a material effect oll the fmancial sralements. We also considered those laws and regulaiions that have a direct impa¢t on the prepardtion of the fllvdncial statements, such as the Charities Act 2011. We evaluated the tnjstees. and managemeni's incentives and opp)rMnities for fraudulent matiipulation of tbe financial gtatements (including the risk of override of controls) and detern)ined that the principal risks were related to posting manual joumal entries io manipulate fmatjcial perforn]ance, management bias through judgements and assumption8 in significant accounting esiimaies. in particular in relation ro fiu)d accounting, and significant one-off or unusual transactions. Our audir pro¢edure5 were designed to respond to those identified risks, including non-¢omplian¢e with laws and regulations lirregularitiesl and fraud th&1 aTe material to the financial Statents. Our audii prO¢ethe5 included but were not limited to=
II¥DEPELYDENT AUDITORS, REPORT TO THE MEMBERS OF OPTIONS FOR LIFE DiscUlg with the trusiees and managemeni their policies and prcrfedu regarding cott¥li4nce with laws And regulations., Communi¢aiing identified Ihws and regulations throughout our engagemeni am and remaining alert to any indications of non-complian¢c throughout our audi( and Considemg tbe risk of acts by the ¢h4n'ty which were contrary to aM)]icable laws and regulaiions. including frau Our audit procedures iti relati¢)n to fraud included but were noi limiied to.. Making enquiries of the trustees and mana8ement on whether ihey had knowledge of any actual, su4wted or alleged frau. Gain]ng an understanding of the Énternal eorttrol$ ¢5tablished to mitigate risks related to frau. Discussing amongst the engagemeni team the risks of fraud. and Addressing the risk8 of fraud through mana8ement override of controls by puforming journal entry testing. There aTe intrLerent liniitaiions in the audit procedure$ described above and the primary respo1b11Ity for the prcvention and detection of irregularities including fraud re$ts with rnanagement. A% with any audit, there remained a risk of non- detection of irregularities, as th¢sc may involve collusion, forgery, int¢ntiona] omissions, mi8representhtions or the override of internal controls. A rther description of our r¢3pon5ibilitiey for th¢ audit of the financial slatements is located on the Financial Reporting Counetl's websit¢ at www.f.oTg.UklaUdi¢Orsre8PonslbI1lt1e8. This d¢scription fornis part of gur auditor's report. Use of the audlt report We have been appointed as auditor under section 144 of the Charities Aci 2011 and report in ¢Ordance with the Act and regulations tnade or having effect thereunder. Our restonsibility is to audit and express an opinion on the financial Staiemerttg in accordance with applicable law and Ln¢eTn8tional Swidards on Auditing IUKI. Those standards require us to comply with the Financial iiewTrrting Coun¢il's Ethical Standard. Our audit work has bttn undertaken 80 that we mighi stsie io the clwi"ty's tsustee8 those rnatters we are rtquircd to sthte to them in au auditor's report alld for DO other PUTP)5e. To the lIest extent pcrmitted by law. we do not acccpt or &%sume resrK)nsibility to anyone other than th¢ ¢hariry and the Chlty. tseeS as a body for our audit work. for this report. or for opinions we have fortlled. Vincenl Marke {Senior Statutory Audiior) for arml on behalf of Ma7Ars LLP Chartcred Accouniants and Statory Audiior First Floor Two ChAmberlaiD Square BinDill8h& B3 3AX 17 December 2021
OPTiof4S FOR LIFE STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Exp¢nditure Actoruli) For the year ended 31 March 2021 Total funds 2021 Total funds 2020 Restricted Designated funds fund$ re5tri¢ted funds Notes Ineome from: Donations & legacies Charitable activities Other trading a¢tiviti¢s Env¢$tm¢nts S.189 5.189 1.616.872 1,633.055 10,500 10,500 4,423 4,423 2.590 2.176.534 12.185 4,419 16,183 16.183 X.636,984 1,053,167 2,195,728 Expenditure on: aritable activtties 7,937 IJSI.948 IJ59.885 2.109,400 7,937 1.351.948 1.359J85 2,109,400 Nei incojne 8,246 285.036 293,282 86.328 Transfer between fimds 27,1100 {27,000) Net rnovement in funds 8,246 27,000 258,036 293J82 86.328 Reeonciiiation of fulld5: Total funds brought forward 23,230 685,000 IA61,224 2,169.454 2.083.126 Total fvnds ¢arried foJi¥ard 31A76 712,0110 ,719.260 2.462,730 2,169,454 The notes on pages 13 to 23 fonn part of these fjnaneial statements. There were no recognised gains or losses other than those in the Ststement of Financial Activities. All surplu8cs are a result of coniinuing activities as one-off tIVI(1e$ are strncttJr¢d so as to prothi¢¢ no surplus or deficit. 10
OPTIONS FOR LIFE BALANCE SHEET A5 at 31 March 2021 CompaDy No. 3341420 Notes 2021 2020 Fixed asset$ Tangible assets Investmenr8 1.265,441 ,284,495 10 Current assets Debtors CAsh at bank and in hand 32,687 1214,440 175,568 788.833 1,247,133 964.401 Ltabillties Credirors: Amounts falling in less than one year 10 (49,838 179.4521 Net curr¢llt a318 1,197395 884.949 Total assets 2,462,736 2.169,454 The Funds of the eharlty Restricted fund$ 31,476 23.230 Unrestricted funds Designated fimds UnrestriGied fillLd5 712,0(MJ 1,719,260 685,000 1,461,224 2,462,730 2,169,454 These fmancial statements have E*en prepared in accordance with th¢ sp¢oi8L provisions relating lo companie8 subject the small tompanies regillJ¢ within Pan 15 of the Compallies Act 2006. Approved and autborlsed for iwue by the BDard on 18th Oetober 2021 and slglled oll th¢ir behalf by: Harriet Moat Cts Chair of the Board of Trustees. Nicola Thomson Chief Executive OtTicer. The uotys 1)n pages 13 to 23 forni part of these fJn8neial staiements.
OPTIOL¥S FOR LIFE CASH FLOW STATEMENT As At 31 Imarch 2021 Company No. 33414211 2021 2020 Cash Ilows from operatiRg getivitie$: Net C&sh ud ill operating activities 449,203 123,966 Cash flows investing activities: Dividends. interest and rent ftom investments Proceeds from the sale of investtnents Putchase of property. plant a[ equiprnent 4,424 io (28,024) 4.419 (28,944) Net ¢&sh provid¢d by investing activities (23,590) (24,525) Re¢oncili4tiou ofuet cash flow to movement in funds Chang¢ in Cash and cash eouivalents in the year Cash and cash equivalenis at l April 425,613 788.833 99,442 689,391 Cash and catsh equivalents 8t 31 March 1214,446 788,833 ReeoDclllatlon of next movtmellt funds to et casb outllow from operatlnE aetlrftles Net movemeni in fithds for the year ended 31 March 2021 293382 86.328 Adjustments for: Depreciation Dividends. interest and rent from investments Decreaselllncrease) in debtors Encrease in other creditors 47.077 14,424) 142,881 (29,613) 40.681 (4,419) 7,726 {6,349) Tr4et cash used In operatillg aetivities 449303 123,967 ADalysis of cash alld e*sh equivalettts Notice deposits (less than 3 months) Notice deposits (more than 3 months) Cash in hand 636,740 542,621 35,085 313.825 427.616 47.390 Cash and cash equivalents 1314,446 788.833 The notes on pages 13 to 23 fomi part of these fmattcial statements. 12
OPTIOP45 FOR LIFE NOTES TO THE FIIYANCIAL STATEMENTS For tbe year ended 31 March 2021 AccouDtiDg polieies Options for Life in in¢o4)0rad &$ a company limited by guarantee, registered in England and Wales (No. 3341420) Basis of Aeeoulltlllg The financial statements are prepared under the historical ¢081 conveniion. in accordance with Accounting and Reporting by Charities; the Statement of Recommended Practtce applicable to Charities preparing their accounts in a¢¢ordan¢e with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS1021 (effective I. January 2019) - {Chariiies SORP IFRS102}, the Financial Reporting Standard applicable in the UK and Republic of treland (FRS1021 and the Compattie$ Act 2006. Income Income is predominl1Y grants. chuitsble service contracts and income from social business activities and is recognised in the Statement of Financial Activities when received or on completion of the delivery of the specified tern of the Setvice Level Agreement. Expenditure All ¢xPendire is accounted foT on an accruals basi5 and is recognised where there is a legal or constnLctive obligation to pay. Expenditure ha5 been classified under headings that aggregate all Costs related to th category. Charitsble expendilure comprises those costs incurred by the charity in the delivery of its activities and includes boih the direct and support costs relating to these activitie5. Support cost$ CO]LSiSt OF central athninistration and property Costs. They would nornially be allocated equitsbly behveen activities but du¢ to covid 19 closures these costs are sirnply disclosed in Note 4. GovernaD¢e Governance costs of the charity include those cosrs assocsated with meeting the constitutional and stattltory requirements of the charity and include audit fees and costs to the strategic management of the charitabl¢ company. Details on governanee costs are shown in Note 4. Fund Aecountill8 Unrestricted funds grc available for use at the discretion of the trustees in the fither4ce of the objective8 of the Chariry unless the funds have been designated fi>r other purposes. Designated funds comprise unrestricted fimd5 that have been set aside by the tNstees for particular purEK)ses or to meet poteniial financial risk8 or pressures that the charity may fa¢e. Restricir)J fvnds are subject to 4)ecific ternis and conditions by di>nors a5 to how they rnay be used. Grants and donations Grants and donations are only included in the Statemt of Financial Activities whell th¢ Charity h unconditional entitlement to the resources. Donated services and facilities These are ollly included in incoming resources (with all equivalent amount in Qu¢S expended) where the benefit to the charity 1$ reasonably quantifiable. measurable and material. The value placed on these reSoUeS is the estinydted value to th¢ ¢lwity of the service 01 facility re¢¢iv¢d. Judgments ill apply5llg aCCOUDting polleles and key soureeg of estimation uDeertsinty The ciwi.ty estimates and assumptions conceming the ture. The resulting accounting esiitnates will. by definition, seldom equal the related acwal results. The ttustees confirm th¢r¢ ar¢ no estimates and assumptions that have a significant ri%k of using a material adjustment to the carrying amounts of and liabilities within the next f]nancial year. 13
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 Accounting polici¢5 (tontitiutd) V41ue Added Tax VAT has been treated as irrecoverable by the Charity, due to the scale and type of activities being regarded as exempi. To ensure th¢ charity cop1]eS with HMRC'S regulatory requirements both tlLe sources of income and the aggrega amounts that could collstityJ* vatsble supplies, are frequently reviewed. Tanglble flxed assets and depreciatlon Tangible fixed assets for use by the charity are stated at cost less depreciaiion. Sin¢¢ April 2019 Individual iteItis costing less ihan £5,000 are itten off in the Statement of the Financial Activiiies. Depreciation is prtsvided at rates calculated to write off the cost less eStillted residual value. over their expected useful lives. Office equipment Motor vehicles 25Q/o on a %traighi line basis 25°/o on a strnight line basis Building- Leasehold IOQ/o on a straight line basis Building- Freehold 2°A on a straight line basis Freehold land is not depreciated Pettsiott tosts The charity fuired its legal obligation iTh adopting the Governments Workplace Pension Scheme Aut Enro]ment in October 2014 integrating this with the def]ned Gontributions pension scheme that was already part of the rernuneration policy. Those employees who have opted for the minimum contribution of 5/0 of peusionable Salary under aulo-enrolment nLle5 enjoy an employer's contribution of 4/, this incTeases to 50/ after 10 years service. Etnployee Benefits The ¢o$t of any unused holiday entitlement is r¢cognised in the period in which the employee's services are received. Tern)inatsoll benefits are recogni5ed immeth"ately as an expense when the Charity has cornmitted to tennina. the employrnent of an employee or to proVe iemiinati¢)n nefIts. Going eoneerD At the time of preparing the fan(la] ststements, the trustees have a reasonable eXptatIOn that the Charity bas adequate resources to continue its operatsonal existence for the foreseeable future. There are no other maierial uncertainties that may cast a significant doubt aknut the Chariry's ability to continue os a going concern. Therefore, the accounts have continued to be prepared on the 8oitig concem basis of a¢counting.' There will be significant futslre challenges to be faced by the Charity. It is clear that the Chan'ty won't go back to operating its services as they did before the ouibwak but there L5 now iti place a revised staff and business odel looking to deliver new and flexible ways of service delivery. Liability regnitiO Liabilities are recognised as soon as ther¢ 18 a legal or constructive obligation committing the charity to pay out resoutces. Op¢ratillg Itases Rental costs under operdting leases e charged to the income and expendibjrc account in equal annual amounts over the period of th¢ l&w. 14
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATEMELYTS For the year ended 31 Mareh 2021 lll¢ome 2021 2020 Restrlcted Income Cbarltable actlvlties Bally Thomas Charitabl¢ Fund Skipion Buildiug Society Charitable Foundation Sandwell MBC- Apprenticeship Scheme SaDdwell MBC re notitsnal ground reni Edward Gosiling Tntst Sandwell MBC- Town Grants Rowlands Trnst Groundwork UK Clothworker5 Foundaiion Richardson Brothers FoundatLon Alfred Haill¢s Tt 10,000 1,983 3,824 4300 3,550 2,409 J.000 i.Doo 15.000 3,000 1,000 4.200 Totsl Rstricted income fro charitable activities 16,183 34,983 Uore5trict¢d income Charitable J¢tivitles Adult social car¢- Sandwell MBC Coronavirus Job Retention Scheme grallt- HMRC Additional Restrictions Suppon Grani- SMBC Direct payment5 NHS Sandwell & West Birmingham CCG So¢ial business income NeightVrIY Commurlity Fulld W.E.D Charitable Trust One to One Support- Sandwell MBC Collllnunities in Sync- Better Care Fund 1,104.944 336.OS4 98JOO 68,138 1.197.549 449.574 427.554 52,712 (20) 41)0 51MI 8.350 11,412 2.750 Total unregtricted income from clwitable activities I,61612 2,141.551 Total incotne from clwitable activities 1.633,OSS 2,176,534 Other trading activitles llleomt A¢tivities, fund raising and sales of work tnsurance settlement Room hire charges sUlUs on disposal of &8$ets 9223 9,800 2,412 550 71)0 io.s 12.185 15
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATE1vNTs For the ye#r ended 31 Mch 21121 ExpeDdltllre 2021 2020 Charitsbl¢ S¢rvfice Operntlonal Costs Direci staffg costs Severance ¢o$ts Indirect staff r¢lated costs Premises, repaus and nmning Costs Cleaning. personal protective equipTnenr and waste disposal Vehicle and transtK)rt costs Activities and materia]s tr and ofifi¢e costs Depreciation costs Oak Green S¢rvi¢es materia]s 837,002 26,690 19.868 35588 14.651 39.436 4,007 8a30 41,649 1,345.085 11.591 26,021 75,680 17,745 104,913 96,844 13.394 28,762 14,983 Total eharitable (yerational sts 1.028,lJ21 1,735,018 Mallagemeni and Support Costs Governattce cost5 312.806 19.058 355,098 19284 Total clwitable expenditure I 590$$ 2.109,400 16
OFfioNS FOR LIFE NOTES TO THE FINANCIAL STATEMEI¥TS For tbe year eRded 31 Mareh 2021 Expendlture- Charltable activities 2021 2020 Management support costs Salaries Staff recruitment, trailling. travel, other Office costs External profe&sxollal support Miscellaneous Equipment depreciation Vehicle costs Prei8¢S related costs 227,141 8,01 45,537 9,4S2 2J75 5,428 2.449 12,414 254,960 4,184 61,881 14.303 2.889 3.965 12,916 312,806 355,098 Govern4D¢e costs 2021 2020 Audit Other illguran¢¢ Costs Bank chargeg Professional & conw1¢8ncy fee8 Miscellaneous 9,743 5,795 1,268 2,160 92 8,366 3,805 934 6,124 55 19,058 l9,284 Nel movernent ID funds for the y& 2021 2020 The net movement in fimds for the year is stated after charging.. Depreciation of ¢angiTrJle assets Operating lease expenditure Audit 47,077 33,S68 9,743 40.681 37,108 8,366 17
OPTIONS FOR LIFE NOTES TO THE FINANCLIL STATEMENTS For the year ended 31 March 2021 Staff costs 2(121 2020 Wages & salaries Social security costs Pension eosts 981,968 49,855 32J20 1.483,866 77.553 43,189 1,064,143 1,004,608 Number Number The averdge monthly number of staff employeAI by th¢ ¢harity during tbe year was as follows: Administrative Project based io 81 91 Employer beneflts to Senlor Management Team Metnbers During the year to 31 March 2021 payllLellts to key members of the managem¢n¢ t¢arn in the fonn of salary and pensioJJs amoullted to £127296. This con]pares with £124,527 for the prior y¢ar. There were no ¢mploye¢s whos¢ annual ¢moluTll¢nts were £60.000 or more. Termlnatlork Payments ID 202012021 tbere were total ter]natiOn payments of £28.999 Tellllg to redundan¢y, llotice period and settlement payments for eighteen fomier employees. In 2019120 there w¢r¢ t¢rnlKD4ti0n payments of £17.464. Payments to Dtrectorsrrrus¢ees In 2020121 remunerntion was paid ally trustee8. There were exp¢n8e reimbursements of £92 paid to tnjstees in performing their duties in 2020121. There were tntee expew of £5 in 2019120. 18
OPTIONS FOR LIFE NOTES TO THE FLNA]YCIAL STATEMEP4TS For the year ended 31 March 21121 Tangible fixed H$5ets for use by the ehkrity Ofllce Leasehold equlpment I Improve- fixiures ments & flttlngs Freehold properties 2021 Total Vehlcle5 Cost As at l April 2020 1,585.963 19,492 159,141 55.050 1.819,646 Additions Dtspo5a18 28.023 28,023 {24,91>0) {24.900) As at 31 March 2021 1,585,963 19,492 187,164 30,150 1022,769 Depreciation As at l April 2020 358.697 4,085 117,319 55.050 535,151 Charge for the year Disposals 27.519 1,949 17,6(V) 47,077 (24,9110) (24,900) As at 31 March 2021 386.216 6,034 134,928 30,150 557J28 Net B(bok V4lue As at 31 March 2021 1,199.747 13,458 52.236 1,26S,441 As at 31 March 2020 1.227266 15,407 41,822 1284,495 Land at ¢0St Carried fornvard £210,(K)O is not deprecIad (2020 - £210,0(X)) Investment 2021 2020 Inveslment 10 This investtnellt was created from the forniatioll of th¢ ¢ompany Options For Work and comprised sh8re capital of 10 shares at £1 each. The registered company {llumb¢r 07373367) was dissolved OTh 1613121 and the £10 invesimeni was returned back to Options For Life. 19
OPTIONS FOR LIFE NOTES TO THE FINAP4CLiL STATEMENTS For the year ended 31 March 2021 Debtors 2021 2020 Trade debtors Pr¢paymellts & swidry debtors 11.273 21,414 154.788 20.780 32,687 175,568 Bank #nd e*8h 21121 2020 Bank accounts Petty ea8h 1,211,884 2,562 782,220 6.613 1.214,446 788,833 Creditor8: Amounts f8lling due ID les5 Ihall one ye4r 2(J21 2020 Trade treditors A¢¢nd expellses Tax and social security Pensions Other ¢reditors 6,474 23,677 11,038 5J64 3,285 26,659 26,450 14.935 7,753 3,655 49,838 79,452 20
ovrioNS FOR LIFE NOTES TO THE FIL¥ANCVAL STATEMEI¥TS For the year ended 31 MArth 2021 li Fuf4DS 31 Mfireh 2021 I ApTiU 2020 Income Expenditure Restrleted Funds Sandwell MBC Clothworkers Foundation Richardson Brothers Turner Ttust Edward Gostling Fourtdation Alfred Haines Charithble Tn( Bally Thomas Charitable Fund Skipton ChaTit&ble Fowldation 4200 {4,200) {2,1861 15.0(K) 3,01)0 ,038 3,342 850 12.814 3.000 692 2,987 (346) 1355} {8501 10.000 1.983 iO,OOD 1,983 Totsl restricted funds 23,230 16,183 (7,937) 31,476 Fllrther informatl•n on the purpose grants received In 2020121 . Sandwell MBC A notion grant for payment of rent for laT2d at Oak Green Lodge B8ily Thomas Charitable Fund Being a contribution towards renovation impmements at tbe Ashes Centre. A grant towards the new outdoor s¢nsory garden at Acorn Lod e centre. Skipton Charitable FoundatioTh li Unrestricted fullds 2021 2020 Unrestricred capital fimds brought forward 1,461224 1,824.197 Movement for the year Transfer iolfrom Designated Funds 285.036 87,027 (27,000) {450,000) Unresiricied fijndi carried forward 1,719,260 1,461224 Designated funds 2021 2020 Designated funds brought forward Movetnent in the year 085.iMIO 27.000 235.000 450.000 Total designated fvnds carried fonwd 712,000 685.000 Total unrestricted funds 2.431,260 2.146.224
OFfioNS FOR LIFE PIOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 12 AD4iysi$ Det A$set$ betweett fwids Other net 855etsl Ri3bilities Tangib Ilxed assets Total Restrlcted 31,476 31,476 Unrestrleted fuDds Designated funds Unrestricted fimd8 712,000 453.819 712,1100 1,719,260 1,265.441 1,265.441 1.197,295 2,462,736 13 Commitments under operating leases At 31 March 2021 the CoD]patLy had roll]mitsnents under non-concellable leases in respect of minibuses and photocopien". 2021 2020 Within (me year Within two to five years 31,678 39,665 32,579 71,374 7AJ43 103,953 14 Post balance shert eveDts There are no events that occurred after 31 March 2021 that are likely to signifieantly change what is presented in the fmancial statements or have an impact upon the stattw of the organisation as a going concern. Is Pen8ion Commitment The Charity operates a defjned ¢ontrl)uti¢)n scheme. The &8sets of the scheme are held separately from those of the Charity in an imdependently administered fimd. The pension cogt represents contributions payable by tILe ctwity to the nd and amounted to £32,320 (2020 £43,189). At 31 March 2021 contributions arnounling to £5.364 (2020: £7,753) were payable to the fund and are in¢lud¢d in ¢reditor& 22
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the year ¢nded 31 March 2021 16 ststement of Ilnanelal aetlvities 2020 Total funds 2020 Restricted Dcsignated Utwestiicted fimds t)ds funds Noteg Income from: Do]]ations & legactes Charitable activities Other trading activitre$ Investments 2,590 2.141,551 12,185 4,419 2,590 2,176,534 12,185 4,419 34,983 34,983 2,160,745 2,195,728 ExPendIre on: Clwitable aetivities 35.682 2,073,718 2.109.400 Net (expellditur¢) l income (699) 87,027 86J28 Transfer benyeen fid& 450.0(X) (450,000) N¢¢ movement in fimds (6991 450,0 (362973) 86,328 Reron¢i]iatlon of fwids: Total fun& brought forward 23,929 235,000 1,824,197 2,083,126 Total fund8 carried forward 23.230 085,000 1,461,224 2,169.454 23