## **EDUCARE M** 

**(Registered Charity No: 1065452) (Registered Company No: 3436147)** 

**TRUSTEES’ REPORT AND** 

**FINANCIAL STATEMENTS** 

**31 MARCH 2022** 



**EDUCARE M** 

## **REPORT OF THE TRUSTEES** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **REFERENCE AND ADMINISTRATION DETAILS** 

|**TRUSTEES**|Patrick Morrissey (Chair)|
|---|---|
||Marjorie Bannister|
||Adam Hardy (appointed 25 November 21)|
||Helen Hill|
||Declan Linnane|
||Maureen Martin|
||David O’Farrell|
||John Shinkwin|
|**GOVERNING DOCUMENT**|Memorandum and Articles of Association dated 1September 1997|
|**CONSULTANTS**|Sister Judith Russi, SSMN|
||Brendan Duffy|
||Grainne Grabowski|
|**REGISTERED OFFICE**|1 Grafton Road|
||Harrow|
||Middx|
||HA1 4QS|
|**CHARITY REGISTRATION NUMBER**|1065452|
|**COMPANY REGISTRATION NUMBER**|03436147|
|**INDEPENDENT EXAMINER**|Olayinka Tomori ACA DChA|
||Longmeade Consult Ltd|
||Regus House|
||Victory Way|
||Admirals Park|
||Dartford|
|**BANKERS**|Barclays Bank plc|
||Leicester|
||LE87 2BB|
|**SOLICITORS**|Stone King LLP|
||13 Queen Square|
||Bath|
||BA1 2HJ|



1 



## **EDUCARE M** 

## **REPORT OF THE TRUSTEES (Continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

The Trustees present their report and the accounts of the charity for the year ended 31 March 2022. They have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019) and complied with the requirements of the Companies Act 2006. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Constitution and governance** 

The Charity was established by Memorandum and Articles of Association dated 1 September 1997 and is registered with the Charity Commission, no. 1065452. The Charity is a company limited by guarantee; company no. 03436147. 

The length of service of Trustees is determined by the constitution of the charity.  One trustee is obliged to retire by vote at every third Annual General Meeting.  The process of appointment of Trustees is determined by the constitution and the next Annual General Meeting.  At every third Annual General Meeting, the members vote to remove one of the Board of Trustees but there shall also be a vote to re-elect that person.  The next such vote is scheduled for 2021.  No person, other than one re-elected by rotation, shall become a Trustee unless recommended by an existing Trustee or unless proposed with due notice by a member of the company. 

## **OBJECTIVES AND ACTIVITIES** 

EducareM is a charity whose objects are “ _…to advance and promote the spiritual and moral development of children and young people and development of family values.”_ This has been achieved principally by means of the charity’s activities in schools but the charity, with the aid of specific funding, has now initiated a national programme of formation for Headteachers and supporting the development of Catholic education at all levels; striving to advance the radical mission of the Church in education. 

## **PUBLIC BENEFIT** 

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when reviewing the charity’s aims and objectives and in planning future activities.  In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. 

## **ACTIVITIES, ACHIEVEMENTS, PERFORMANCE AND FUTURE PLANS** 

EducareM continues to work nationally.  The National School of Formation in England and Wales is going from strength to strength and is operating at full capacity both on the residential events as well as the reconnect days. This year saw the stat of the Barnabas Magdalene Programme which is aimed at those already in middle and senior leadership posts such as Assistant and Deputy Heads, Heads of Department, and age phase and experienced governors. 

2 



**EDUCARE M** 

## **REPORT OF THE TRUSTEES (Continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **REVIEW OF THE YEAR** 

## **EducareM leadership team** 

The leadership of EducareM has continued to deliver a high level of hands-on training and support. The team is made up of the following people; 

Sr Judith (EducareM Director), Mr Brendan Duffy (National School of Formation Director) Mrs Maureen Glackin (General Secretary of Catholic Independent Schools’ Conference - CISC) and Mr Martin Johnson (Executive Headteacher and Headteacher of the Sacred Heart Teaching School in West Houghton and Mrs Grainne Grabowski (Consultant) 

## **Curriculum development** 

The Building the Kingdom initiative has flourished.  Many schools are in their second and third year of designing and developing their curriculum so that it is in line with the mission of the Church in education and Ofsted compliant. The initial pioneer schools who began this project are now in their fourth year of development, focusing on oracy for advocacy for those on the margins of society. Key Stage 3 curriculum design continues in Clifton diocese, Ealing, St Albans and West Houghton clusters. 

A group of five schools in the diocese of Westminster have pioneered the BTK Talks initiative working with children and young people from the ages of 7-18 enabling them to become advocates for change. This is being done in a targeted way involving young people who would never normally be chosen to speak and inviting them to select topics they are passionate about, Catholic Social Teaching and finally speaking to the title “The leaders we need today” in Parliament to MPs. 


Pupils taking part in three days training for developing Oracy for Advocacy in Westminster Hall London. At the first training day each pupil had to speak unaided for 2 minutes on something they were passionate about. 

**Year 2 pupil** 

**All pupils from Year 2-13** 


3 



## **EDUCARE M** 

## **REPORT OF THE TRUSTEES (Continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **REVIEW OF THE YEAR (continued)** 

Young people took part in presentations and discussions with MPs 


**The main presenters topic “The leaders we need today”** 


A group of leading headteachers and practitioners has been set up to bring together all the materials needed as the project moves towards publication. The core team for writing the BTK programme is now ready to publish online materials to be placed on the EducareM website. It has been decided to delay hardcopy publication at present due to the financial restraints on many schools. 

## **Pupil Chaplaincy Teams** 

Progress has been difficult due to the Covid restrictions. However, some formation for adult leaders of chaplaincy teams has been possible with Nottingham diocese which has not trained all their schools. 

## **Caritas in Action and Caritas Ambassadors.** 

Catholic social teaching is being seriously addressed through the Building the Kingdom training programme in six dioceses. Due to the lack of background knowledge regarding Catholic Social teaching, EducareM is now offering bespoke training for teachers to raise teacher background knowledge and understanding. 

## **Emmaus Programme** 

Maggie Shinkwin continues to administer this project and ensures that Headteachers’ requests for a spiritual accompanier within a manageable distance of where s/he lives is met. EducareM continues to review the provision for support and training. Maggie has raised the lack of take up of this provision. However, it will remain open for those who wish and find it useful. 

4 



## **EDUCARE M** 

## **REPORT OF THE TRUSTEES (Continued)** 

**FOR THE YEAR ENDED 31 MARCH 2022** 

**REVIEW OF THE YEAR (continued)** 

## **NATIONAL RETREAT** 

The annual retreat was a great success. Mr Christopher Chapman led the retreat, supported by CJM music group and Fr Alan Whelan who was present for the sacraments of reconciliation and Eucharist. The evaluations demonstrated that these events were extremely valuable for those taking part. 

## **NATIONAL SCHOOL OF FORMATION** 

The 5[th] cohort of 42 headteachers, director and governors were successfully completed in March 2022. 

During the training participants were invited to select two UK study visits. 

The Emmaus Youth Village Hexham and Newcastle – a centre for young people to explore faith and life issues in a relevant and interactive way. 

Cornerstone, a day centre providing services to vulnerable and disadvantaged Adults. 

Corrymeela Project N. Ireland – a centre for Dialogue for Peaceful Change Fatima House Birmingham- a centre for transforming the lives of destitute women and asylum seekers. 

Women at the Well – a drop-in centre at Kings Cross. 

L’Arche –communities where people, with and without learning disabilities, share life together, living or working in community. 

Cardinal Hume Centre – which focuses on four area of need: employment, housing, education and skills and legal status. 

iGNITE! – which supports young people 11–25 to help them re-engage with education, find employment, move away from anti-social behaviour, gang environment and exploitative relationships. 

Emmaus - homeless project in St Albans. 

## **NSF Graduates** 

Three very successful Governor Training twilight sessions have been held online. More opportunities for Governors are being planned for the coming year. 

The number of Associates increase each year as new graduates complete their NSF programme. They are allocated to their area of choice for ongoing support and outreach work. 

The Associates work under three headings: 

- a. Writers – Engage to provide academic understanding and promote NSF – the mission of transformation. 

- b. Advocates – Engage with others – local, regional and national - to promote NSF, our mission of transformation. 

- c. Formators – Engage with inspirational support, academic and spiritual development. 

5 



## **EDUCARE M** 

## **REPORT OF THE TRUSTEES (Continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **REVIEW OF THE YEAR (continued)** 

## **New Programmes** 

The new National School of Formation programmes had been postponed twice due to the Covid restrictions. However, the Barnabas Magdalene programme was successfully completed by 33 people The feedback from this programme is very strong. The programme included lectures, visits to other schools and a day visit to the Bar Convent in York to experience first hand how the Sisters inculcate their charism into the curriculum. 

## **Bar Convent York** 


One helpful suggestion which came from feedback was that the programme should be widened to included experienced middle leaders. This adjustment has been made and the name of the programme has been redesigned as The Tabor Programme. This is now fully booked (32 participants) and will begin in October 2022. 

Both these programmes will focus on the Mission of the Catholic Church in education and how Catholic schools must be authentically distinctive 

## **FINANCE REVIEW** 

Due to the Covid pandemic, the activities of the charity virtually came to a halt in the prior year. However, we are pleased to report that the charity returned to near normal levels of activities in 2021-22.  Consequently, total income for the year rose significantly to £247.4k (2021: £11.7k). 

Expenditure was also followed the same trend with the increased level of activities.  Total expenditure rose to £181.8kk compared to £59.9k in the previous year. 

The Trustees are keen to ensure that the charity’s services are open to all irrespective of ability to pay.  Therefore, it is their policy to offer subsidised rates, in cases of need, upon application.  Four grants were offered this year £5,240 for the National School of Formation. (2021: £nil). 

The result for the year was a surplus of £69.0k (2021: £48.2k deficit), all of which were unrestricted funds.  Total funds at the year end were £201.1k, consisting of restricted funds balances of £8.0k and unrestricted funds of £193.1k. 

6 



**EDUCARE M** 

## **REPORT OF THE TRUSTEES (Continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **RESERVES POLICY** 

It is the intention of the Trustees to maintain financial reserves at a level whereby they can fund the ongoing activities of the Charity.  At the year-end the “free reserves” of the charity, that is total funds excluding restricted funds, stood at £193.1k (2021: £124.0k) which represents approximately one year’s budgeted expenditure.  This aligns with the Trustees’ aim of holding approximately one year’s expenditure in reserve.  In addition to providing a sound capital base for the longer term, reserves are required to finance the charity’s working capital and its cash flows which are affected by the fact that considerable expenditure is often incurred by the charity before the corresponding revenue is generated. 

In the view of the Trustees, the charity’s financial statements continue to indicate a healthy balance of funds with sufficient reserves in place to meet the charity’s obligations in the medium term. The constraints placed on the charity due to Covid are now all but gone and the Trustees are optimistic that the charity will continue to be in a position to provide the much needed support to schools and other organisations of the benefit of children. 

## **INVESTMENT POLICY** 

The Trustees have the power to make investments as they deem fit. Currently, the charity has invested some of its cash reserves in short term low risk charity investment funds. 

## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** 

The Trustees (who are also the directors of the Company) are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. 

Company law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its income and expenditure for that period.  In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- adopt the going concern basis unless it is inappropriate to presume that the charitable company will continue on that basis. 

The Trustees are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Charities Act 2011 and Companies Act 2006.  They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities 

The financial statements have therefore been drawn up to comply with the above statutory requirements, with the Memorandum and Articles of Association and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (second edition effective January 2019) – Charites SORP (FRS102). 

Approved by the Trustees on 10 October 2022 and signed on their behalf by 

Patrick Morrissey, Chair of Trustees 

7 



**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF EDUCARE M** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. 

## **Responsibilities and basis of the report** 

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## **Independent examiner’s report** 

I have completed my examination.  I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that: 

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Olayinka Tomori ACA DChA 

19 October 2022 

Longmeade Consult Ltd Regus House Victory Way, Admiral’s Park Kent, DA2 6QD 

8 



**EDUCARE M** 

## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income & Expenditure Account)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

|||||**Total**|**Total**|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**2022**|**2021**|
||**Notes**|**£**|**£**|**£**|**£**|
||||||(Note 13)|
|**INCOME from**||||||
|Grants and Donations|1|13|-|13|10|
|Investment income|2|1,820|-|1,820|433|
|**Charitable activities**|3|245,540|-|245,540|11,257|
|||---------------|-------------------|---------------|---------------|
|**Total income**||247,373|-|247,373|11,700|
|||---------------|-------------------|-------------------|-------------------|
|**EXPENDITURE on**||||||
|**Charitable activities**|4|181,823|-|181,823|59,879|
|Other||-|-|-|-|
|||---------------|-------------------|-------------------|-------------------|
|**Total Expenditure**||181,823|-|181,823|59,879|
|||---------------|-------------------|-------------------|-------------------|
|Net income/(expenditure) before investment||||||
|gains/(losses)||65,550|-|65,550|(48,179)|
|Net gains/(losses) on investments|9|3,479|-|3,479|-|
|||---------------|-------------------|-------------------|-------------------|
|**Net movement in funds**||69,029|-|69,029|(48,179)|
|**Accumulated Funds**||||||
|Brought forward at start of year||124,026|8,000|132,026|180,205|
|||---------------|-------------------|-------------------|-------------------|
|**Carried forward at end of year**||**£193,055**|**£8,000**|**£201,055**|**£132,026**|
|||========|=========|=========|=========|



No separate summary income and expenditure account has been prepared because the information it would contain is given in the above statement. 

The statement of financial activities includes all gains and losses recognised in the period. 

All income and expenditure expended derive from continuing activities. 

The notes form part of these financial statements. 

9 



**EDUCARE M** 

**COMPANY NUMBER:  3436147** 

## **BALANCE SHEET** 

## **AS AT 31 MARCH 2022** 

||||**2022**||**2021**|
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**FIXED ASSETS**||||||
|Investments|9||98,479||10,000|
|**CURRENT ASSETS**||||||
|Debtors|10|20,208||11,515||
|Bank and cash balances||117,870||225,395||
|||------------------||------------------||
|||138,078||236,910||
|**LESS: CURRENT LIABILITIES**||||||
|Creditors: amounts falling due within||||||
|one within one year:|11|(35,502)||(114,884)||
|||------------------||------------------||
|**NET CURRENT ASSETS**|||102,576||122,026|
||||----------------------||----------------------|
|**NET ASSETS**|||**£201,055**||**£132,026**|
||||===========||===========|
|Represented by:||||||
|**FUNDS:**||||||
|Unrestricted|||193,055||124,026|
|Restricted|12||8,000||8,000|
||||---------------------||---------------------|
||||**£201,055**||**£132,026**|
||||===========||==========|



The notes form part of these financial statements. 

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

## **Directors’ responsibilities:** 

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, 

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. 

Approved by the Trustees on 10 October 2022 and signed on their behalf by 

Patrick Morrissey, Chair of Trustees 

10 



## **EDUCARE M** 

## **CASH FLOW STATEMENT** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

|||**2022**|**2021**|
|---|---|---|---|
||**Notes**|**£**|**£**|
|**Cash flows from Operating Activities**||||
|Net cash outflow from operating activities|**A**|**(22,525)**|**35,125**|
|||---------------------|---------------------|
|**Investing Activities**||||
|Purchase of investments||(85,000)|(10,000)|
|||---------------------|---------------------|
|**Change in cash and cash equivalents in year**||**(107,525)**|**25,125**|
|Cash and cash equivalents at 1 April 2021|**B**|225,395|200,270|
|||----------------------|----------------------|
|Cash and cash equivalents at 31 March 2022|**B**|**£117,870**|**£225,395**|
|||===========|===========|
|**Notes to the Cash Flow Statement**||||
|**A. Reconciliation of net movement in funds to net cash flow from operating activities**||||
|||**2022**|**2021**|
|||**£**|**£**|
|**Net movement in funds (as per the Statement of Financial Activities)**||69,029|(48,179)|
|**Adjustments for:**||||
|(Increase)/decrease in debtors||(8,693)|1,110|
|(Decrease)/increase in creditors||(79,382)|82,194|
|Net gains on investments||(3,479)|-|
|||---------------------|---------------------|
|**Net cash (used in) operating activities**||(22,525)|35,125|
|||===========|===========|
|**B. Analysis of cash and cash equivalents**||||
|Cash at bank and in hand||**£117,870**|**£225,395**|
|||===========|===========|



11 



**EDUCARE M** 

## **ACCOUNTING POLICIES** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **Basis of preparation** 

These accounts have been prepared for the year ended 31 March 2022.  Comparative information is provided in respect of the year ended 31 March 2021. 

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts. 

They accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The charity/company constitutes a public benefit entity as defined by FRS 102. 

The accounts are presented in sterling and are rounded to the nearest pound. 

## **Critical accounting estimates and areas of judgement** 

Preparation of the accounts may require the Trustees to make significant judgements and estimates.  There are no significant items in the accounts where these judgements and estimates have had to be made. 

## **Assessment of going concern** 

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. 

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.  Any significant areas of judgement that affect items in the accounts are detailed above.  With regard to the next accounting period, the year ending 31 March 2022, the Trustees consider that there are no significant areas that affect the carrying value of the assets held by the charity. 

## **Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 

Income received in advance of a conference or the provision of another specified service is deferred until the criteria for income recognition are met. 

In accordance with the Charities SORP FRS102, volunteer time is not recognised. 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 

Income is stated net of subsidies granted to users of the charity’s services.  An estimated value of the subsidies so given is shown by way of note as a deduction from income. 

12 



**EDUCARE M** 

## **ACCOUNTING POLICIES** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

- Costs of raising funds comprise the costs associated with attracting income and the costs of trading for fundraising purposes 

- Expenditure on charitable activities includes the costs of providing consultancy services, running retreats and courses and other educational activities undertaken to further the purposes of the charity and their associated support costs. 

- Other expenditure represents those items not falling into any other heading. 

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 

## **Allocation of support costs** 

Support costs represent indirect charitable expenditure in connection with those functions that assist the work of the charity but do not directly relate to a charitable activity.  Support costs include general office costs, depreciation and other costs which do not relate to specific programmes and activities of the charity. 

Governance costs comprise the costs involving the public accountability of the charity (including independent examination costs) and costs in respect to its compliance with regulation and good practice. 

Support and governance costs have been allocated entirely to expenditure on charitable activities. 

## **Fund accounting** 

Unrestricted funds are available to spend on activities that further any of the purposes of charity. 

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. 

## **Investments** 

Investments include listed investments shown in the Balance Sheet at market value. Net gains and losses on the Statement of Financial Activities represent realised and unrealised gains on investments. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash at bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

13 



## **EDUCARE M** 

## **NOTES TO THE FINANCIAL STATEMENTS** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **1. GRANTS AND DONATIONS** 

|**1.**|**GRANTS AND DONATIONS**|||||
|---|---|---|---|---|---|
|||||**Total**|**Total**|
|||**Unrestricted**|**Restricted**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
||Grants|-|-|-|-|
||Donations|13|-|13|10|
|||---------------------|--------------------|---------------------|---------------------|
|||£13|£-|£13|£10|
|||==========|==========|==========|==========|
||**Year ended 31 March 2021**|||||
||Grants|-|-|-||
||Donations|10|-|10||
|||---------------------|--------------------|---------------------||
|||£10|£-|£10||
|||==========|==========|==========||
|**2.**|**INVESTMENT INCOME**|||||
|||||**Total**|**Total**|
|||**Unrestricted**|**Restricted**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
||Bank Interest|£1,820|£-|£1,820|£433|
|||==========|==========|==========|==========|
||Bank Interest 2021|£433|£-|£433|£-|
|||==========|==========|==========|==========|
|**3.**|**INCOME FROM CHARITABLE ACTIVITIES**|||||
|||||**Total**|**Total**|
|||**Unrestricted**|**Restricted**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
||Consultancy fees|25,800|-|25,800|3,542|
||Curriculum Development|32,772|-|32,772|7,620|
||National Retreat fees|59,924|-|59,924|95|
||National School of Formation (NSF)|127,044|-|127,044|-|
|||---------------------|--------------------|---------------------|---------------------|
|||245,540|-|245,540|11,257|
||Subsidies/concessionary rates granted|-|-|-|-|
|||---------------------|--------------------|---------------------|---------------------|
|||£245,540|£-|£245,540|£11,257|
|||==========|==========|==========|==========|
||**Year ended 31 March 2021**|**Unrestricted**|**Restricted**|**Total**||
|||**£**|**£**|**£**||
||Consultancy fees|3,542|-|3,542||
||Curriculum Development|7,620|-|7,620||
||National Retreat fees|95|-|95||
||National School of Formation (NSF)|-|-|-||
|||---------------------|--------------------|---------------------||
|||11,257|-|11,257||
||Subsidies/concessionary rates granted|-|-|-||
|||---------------------|--------------------|---------------------||
|||£11,257|£-|£11,257||
|||==========|==========|==========||



14 



## **EDUCARE M** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

|**4.**|**EXPENDITURE ON CHARITABLE ACTIVITIES**|**EXPENDITURE ON CHARITABLE ACTIVITIES**||**Total**|**Total**|
|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**2022**|**2021**|
|||**£**|**£**|**£**|**£**|
||**Charitable activities**|||||
||**Direct costs**|||||
||Consultants’ fees and expenses|34,800|-|34,800|34,800|
||National Retreat|39,480|-|39,480|-|
||National School of Formation (NSF)|86,000|-|86,000|9,502|
||Curriculum Development|2,928|-|2,928|-|
|||--------------------|--------------------|--------------------|--------------------|
|||163,208|-|163,208|44,302|
|||-------------------|-------------------|-------------------|-------------------|
||**Support Costs**|||||
||Office support, printing, postage|11,539|-|11,539|6,375|
||Travel and subsistence|2,960|-|2,960|5,171|
||Insurance|1,756|-|1,756|1,720|
||Other costs|170|-|170|121|
|||--------------------|--------------------|--------------------|--------------------|
|||16,425|-|16,425|13,387|
|||-------------------|-------------------|-------------------|-------------------|
||Governance costs|2,190|-|2,190|2,190|
||(including Independent Examination fees)|--------------------|--------------------|--------------------|--------------------|
|||£181,823|£-|£181,823|£59,879|
|||==========|==========|==========|==========|
||**Year ended 31 March 2021**|**Unrestricted**|**Restricted**|**Total**||
|||**£**|**£**|**£**||
||**Charitable activities**|||||
||**Direct costs**|||||
||Consultants’ fees and expenses|30,300|4,500|34,800||
||National Retreat|-|-|-||
||National School of Formation (NSF)|9,502|-|9,502||
||and associated events|-|-|-||
|||--------------------|--------------------|--------------------||
|||39,802|4,500|44,302||
|||-------------------|-------------------|-------------------||
||**Support Costs**|||||
||Office support, printing, postage|6,375|-|6,375||
||Travel and subsistence|5,171|-|5,171||
||Insurance|1,720|-|1,720||
||Other costs|121|-|121||
|||--------------------|--------------------|--------------------||
|||13,387|-|13,387||
|||-------------------|-------------------|-------------------||
||Governance costs|2,190|-|2,190||
||(including Independent Examination fees)|--------------------|--------------------|--------------------||
|||£55,379|£4,500|£59,879||
|||==========|==========|==========||



15 



## **EDUCARE M** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

## **5. NET INCOME/EXPENDITURE FOR THE YEAR** 

|**NET INCOME/EXPENDITURE FOR THE YEAR**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|**This is stated after charging:**|||
|Independent Examiner's remuneration|||
|- Examination|900|850|
|- Accountancy services|1,290|1,340|
||-------------------|-------------------|
||£2,190|£2,190|
||==========|==========|



The charity does not have any employees; its functions are performed by independent consultants and on a voluntary basis. 

## **6. TRUSTEES' EXPENSES & REMUNERATION AND TRANSACTIONS WITH TRUSTEES** 

During the year, no trustees (2021: 1) were reimbursed expenses (2021:  £109). No other payments or transactions occurred with trustees during the year. 

## **7. TAXATION** 

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

## **8. LIABILITY OF MEMBERS** 

The charity is constituted as a company limited by guarantee and has no share capital.  The liability of each member is limited to the sum of £1 per member. 

## **9. INVESTMENTS** 

|**INVESTMENTS**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Market value at 1 April 2021|10,000|-|
|Additions|85,000|10,000|
|Disposals|-|-|
|Net gains/(losses)|3,479|-|
||--------------------|--------------------|
|Market value at 31 March 2022|£98,479|£10,000|
||==========|==========|
|Historical cost at 31 March|£95,000|£10,000|
||==========|==========|



All investments are held in the United Kingdom and are valued at bid price.  The investments are under the management of CCLA Fund Managers. 

## **10. DEBTORS** 

|**DEBTORS**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Trade Debtors|18,508|10,015|
|Prepayments and accrued income|1,700|1,500|
||--------------------|--------------------|
||£20,208|£11,515|
||==========|==========|



16 



## **EDUCARE M** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 

**11. CREDITORS:  amounts falling due within one year** 

|**CREDITORS:  amounts falling due within one year**|||
|---|---|---|
||**2022**|**2021**|
||**£**|**£**|
|Accrued expenses|8,202|9,426|
|NSF - monies due to be paid or refunded|-|80,223|
|Deferred income - deposits held for future conferences|27,300|25,235|
||--------------------|--------------------|
||£35,502|£114,884|
||==========|==========|



|**12.**|**RESTRICTED FUNDS**|||||
|---|---|---|---|---|---|
|||**Balance**|||**Balance**|
|||**At 1 April**|||**At 31March**|
|||**2021**|**Income**|**Expenditure**|**2022**|
|||**£**|**£**|**£**|**£**|
||**Current Year**|||||
||Building the Kingdom Fund|£8,000|£-|£-|£8,000|
|||===========|===========|===========|===========|



## **Building the Kingdom Fund** 

Monies were donated to support the work of the charity in its Building the Kingdom curriculum design project for schools.  The Building the Kingdom project is now ready to begin the process of design for publication. Once the restrictions due to COVID-19 are further relaxed we will be in a position to continue development.  It is therefore anticipated that the fund will be utilised in the forthcoming year or two as circumstances permit. 

The balance on the above fund was entirely held as cash at bank at the year-end. 

||**Balance**|||**Balance**|
|---|---|---|---|---|
||**At 1 April**|||**At 31March**|
||**2019**|**Income**|**Expenditure**|**2021**|
||**£**|**£**|**£**|**£**|
|**Prior Year**|||||
|Building the Kingdom Fund|£12,500|£-|£(4,500)|£8,000|
||===========|===========|===========|===========|



17 



## **EDUCARE M** 

## **NOTES TO THE FINANCIAL STATEMENTS (continued)** 

## **FOR THE YEAR ENDED 31 MARCH 2022** 


## **13. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES** 

||||**Total**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**2021**|
||**£**|**£**|**£**|
|**INCOME from**||||
|Grants and Donations|10|-|10|
|Investment income|433|-|433|
|**Charitable activities**|11,257|-|11,257|
||---------------|-------------------|---------------|
|**Total income**|11,700|-|11,700|
||---------------|-------------------|-------------------|
|**EXPENDITURE on**||||
|**Charitable activities**|55,379|4,500|59,879|
|Other|-|-|-|
||---------------|-------------------|-------------------|
|**Total Expenditure**|55,379|4,500|59,879|
||---------------|-------------------|-------------------|
|**Net (expenditure)/income and net**||||
|**movement in funds**|**(43,679)**|**(4,500)**|**(48,179)**|
|**Accumulated Funds**||||
|Brought forward at start of year|167,705|12,500|180,205|
||---------------|-------------------|-------------------|
|**Carried forward at end of year**|**£124,026**|**£8,000**|**£132,026**|
||========|=========|=========|



18