EDUCARE M (Registered Charity No: 1065452) (Registered Company No: 3436147) TRUSTEES, REPORT AND FINANCIAL STATEMENTS 31 MARCH 2024
EDUCARE M REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATION DETAILS TRUSTEES Declan Linnane (Chair) Marjorie Bannister (Vice chair) Adam Hardy Helen Hill Maureen Martin Patrick Morriss¢y David O'Fattell John Shinkwin GOVERNING DOCUMENT Memorandum and Articles of Association dated I September1997 CONSULTANTS Sister Judith Russi, SSMN Brendan Duffy REGISTERED OFFICE l Grafton Road Harrow Middx HAI 4QS CHARITY REGISTRATION NUMBER 1065452 COMPANY REGISTRATION NUMBER 03436147 INDEPENDENT EXAMINER Olayinka Tomori ACA DChA Longmeade Consult Ltd The Old Rectory Springhead Road Northfle¢t Kent DAII 8HN BANKERS Barclays Bank plc Leicestcr LE87 2BB SOLICITORS Stone King LLP 13 Queen Square Bath BAI 2HJ
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the accounts of the charity for the year ended 31 March 2024. 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 l 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 I 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 deterniined by the constitution of the chartty. One trustee is obliged to retire by vote at every third Annual General Me¢ling. The process of appointment of Trustees is detennined by the constitution and the next Annual General Meeting. At ¢very third Annual General Meeting, the members vote to remove one of the Board of Trustees but there shall also be a vote to r¢-elect that p¢rson. The next such vote is scheduled for 2024. No person. other than one re- electcd by rolalion, shall become a Trustee unless recommend¢d by an existing Trustee or unless proposed with due notice by a member of the company. OWECTIVES AND ACTIVITIES Educarem is a charity whose objects are . lo advap7ce and promoie the spiritual and moral development of children and younx people and developmvnl offamily valNes. This has been achieved principally by means of the charity's activities in schools but the Lharily, with the aid of specific funding, has now initiated a national programme of fomation for Headteachers and supporting the development of Catholic education at all levels; Striving to advance the radical mission of the Church in education. PUBLIC BENF.FIT The trustees confirni that they have referred to the guidance contained in the Charity Commission's general guidance on Public Benefil 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 th¢y have sel. ACTIVITIES, ACHIEVEMENTS, PERFORMANCE AND FUTURE PLANS Edu¢areM continues to work nationally, offering the following programmes Governor training Chrisl the Teacher for serving heads, directors. CEO'S and Multi Academy Board members The annual Reconnect conference for Christ the Teacher graduates Tabor programme for Deputy Heads, Assistant Heads, and Middle Leaders The Building the Kingdom curriculum devclopment Programme Chaplaincy development Oracy for Advocacy programme The National Relreat Bespoke Inservice days as requested by individual MACS and Schools Th¢r¢ has be¢n very positive feedback to the introduction of service Icvel agre¢ments. Mr Adam Hardy, one of the trustees is in contact with CEOS to ensure Educarem's provision is meeting their expectations and needs.
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 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 Fonnatlon Director) Mrs Maureen GlackiT] (General Secretary of Catholic Independent Schools, Conference CISC) and Mr Martin Johnson (Executive Headteacher and H¢adt¢acher of the Sacred H¢art School in West Houghton and Mrs Julic-Anne Tallon director of the Catholic Primary Partnership. Curriculum development The Building the Kingdom initiative continues to reach more schools nationally. Many schools are in iheir 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 ompliant. The new development. focusing on oracy for advocacy for those on the margins of society is now attracting schools across the country who come together for a day to explore and discuss Catholic Social Teaching. Schools are keen to expose pupils to both Lhurch, Local Government and National Leaders to explore how they might build a better world. Church And local leaders join 500 young people from the Archdiocese of W¢stminster to explore ways in Ivhich they can bring about challenging and chgnging injustices in our country today. Article from Archdiocese of Birmingham Newsletter E EtrlItA* .BE. FoiD Coventry Schools Come togeth¢r Empowering advocates of the future through Catholic Social Teaching (CST) Rallying cries of Pope Francis's words "Hearls onfire, feel on ihv move, kickstarted a special event in Coventy on Tuesday ?2 October. The '/ Church, event was held at Sacred Heart, Harefield Road, and attracted over 150 pupils representing 12 Coventy schools. From the off it was evident that Catholic Social Teaching (CST) is shining bright in Coventry with pupils seizing the opportunity to showcase how they'r¢ putting their faith into action on a daily basis. The evenl was organised by Gratnne Griffiths, headteacher at Floly Family Catholic Primary School, together with Sister Judith Russi, Director of Educarem, which encompasses the National School of Formation programme for all senior leaders and governors in Catholic education.
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 REVIEW OF THE YEAR (continued) Inspired by training she received from Sr Judith, Mrs Griffiths introduced the 'Building ihe Kingdom, curriculum into the school - weaving elements of cs'r through the national curriculum. not just in RE. 'Btiilding ihe Kingdom, comes from the 'Our Faiher,. It is a way of teaching which encourages t¢achers lo ask questions, not just give answers. High-level questioning and Challenging by pupils lo enable them to become critical, analytic, creative thinkers. At the event pupils spent the morning sharing ideas and best practice of what they're already doing io live out th¢ seven Catholic Social Teaching themes - Digp7ity ofihe Human Person, F-aixily and Community. Solidarily and the Common Good, Rights and Rgspon.Yibililies, C)plionfor Poor and Vulnerable, The digk7ity of work, Siewardship- Carefor our common home. Inspired by training she received from Sr Judith. Mrs Griffiths introduced the 'B74ilding the Kingdom, curriculum into the school - weaving elements of CST through the national curriculum, not just in RE. They delivered presentations to their peers. each time getting more confident a5 their public speaking improved. Issues of injustice today such as why do we need food banks in a first world county. environmental projects, solidarity, spending time with older people and raising money for those in the greatest need were just some of the topics being discussed. "This is all about the children," said Mrs Griffiths. 'As St Catherine of Siena said, 'Be who Godmeanlyou to be andyou will sel Ihv woi'ld un.fire 'The children are our future, and wc have to inspire them to be change makers. Here they are speaking out in public, putting their failh into action. We are makin&1 advocates for change, empowering them to grow in confidence so that they can speak out. 'Hopefully they will be even more inspired when they retum to their respective schools and share what they've learnt., Sr Judith said headteachers attending the fonnation programme run by Lducarem are actively passing on the 'Building ihe Kingdom, approach to the national cu1¢U1uM to schools across the country. 'What we are witnessing loday are young people finding their voice as Gospel activists, growing in confidence and discovering a new way ot givingy the Gospel message a clear Connection with their experience of the world today,, said Sr Judith. 'Covenlry is very united in ils schools - working together as a force for good. Where adults fail to speak children will, if we prepare them. 'In the afternoon several children spoke about '1 am Church, and what it means to them. Their love for being part of the Church came across very strongly. However, they were not shy of presenting us with the challenges and big questions facing the Church today. 'It was very helpful that four members of the clergy attended the day and formed a panel in ihe afternoon lo respond to the speaker's questions, ranging from a lack of attendance at Mass, wom¢n priests and how to cope with ihe pressures of daily life. It was clear from the responses of the students that they felt heard and valued., The final question from Sister Judith to the schools was ofboih leadership and advocary. 'where and whal now?, us logeiher il is time to go the nayi level
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 REVIEW OF THE YEAR (continued) Formation for leadership today Pupil Chaplaincy Teams Educarem continues to 5UPPOrt MACS and diocese in the development of pupil led Chaplaincy teams. Demand for this training is increasing mainly due to two factors, Lack of trained lay chaplains Finance The GIFT (Growing in Faith Together) Chaplaincy teams are a creative and empowering way of developing chaplaincy both in schools and across MACS. NATIONAL RETREAT The National Retreat wa5 led by Sister Dr Gemma Simmons CJ entitled"Hope in a changing world" Once again, Ihis evcnl was ful I to capacity. Feedback from the retreat This Retreat is profound. Coming to Coombe Abbey allows me to be filled up. the impact of this is amazing, and meeting and sharing with friends. 'What is your desire?ry? This was so powerful I cried. It released something in me that was needed, Gemma's wisdom and artfully entertaining way of speaking to her audience has been of real value. Sr Gemma leaching us scripture in practical application - spiritually uplifting. Ideas for our return to school. Talks from Sr Gemma- influential and healing. NATIONAL SCHOOL OF FORMATION The 7, Cohort of 40 headieachers, directors and governors were successfully compl¢led in March 2024. During the training, participants were invited to select two UK study visits. Cornerstone, a day centre providing services to vulnerable and disadvantaged Adults. Corrymeela Project N. Ireland - a centre for Dialogue for Peaceful Change. Fatima House Birniingham- a centre for transfomiing the lives of destitute women and asylum seekers. Women at the Well- a drop-in centre at Kings Cross. L 'Arche -communitie5 where people, with and without learntng disabilities, share life together, living or working in community. Cardinal Hume Centre - and legal status. IGNITE! _ which supports young people 11-25 to help them re-engage wTth education, find employment, move away from anti-social behaviour, gan8 environment and exploitative relationships. Emmaus- homel¢ss proj¢ct in St Albans. which focuses on four area of need- employment, housing, education and skills
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 Governor Training An extended s¢ries of Governor Training twilight sessions Continue to be available online for Governors. These twilight session5 are working well as they are held at what appears the most convenient time for governors. Attendees are also able to access previous recorded topics. Tabor Programme The 1.abor programme has completed its, third cohort. The encouraging and very positive review5 and evaluations mean that Edu¢areM will continue to provide this programme. Feedback from final session I had the opportunity to think about myself as a leader and thought more deeply about putting the child at the centre, my curriculum and how that links to the mission of the school. I have a renewed sense of purpose of my rol¢ in Catholic education. the way that l interact with others in school; the mission of my school and how it fits in with the Pope's mission. the importance of shared language that is understood by all. We have a really important role going forward to shape the lives of young people Th¢ main lake away "inspired tu make a difference" Researching new Initiatives In consultation with both trustees and headieachers it has been agreed that we research the possibility of taking a group of 20 Headteachers and Governors/CEOs lo Assisi for a Ihree-day retreat. Sr Judith and Brendan Duffy were accompanied by Fr Jonathan Veasey Vicar General from the Archdiocese of Birniingham lo Assisi in March to plan this eveni for 2025. Plaques for schools who are now identified as Educarem schools Educarem now awards a plaque of association for schools who are working with Educarem and pioneering new initiatives. These Schools lead the way both locally and nationally in deliv¢ring and promoting the mission of the Church in education. Educare
EDUCARE M REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 MARCH 2024 FINANCE REVIEW The charity continued with its usual activities during the year. Total income for the year rose to £240.3k (2023.. £225.3k) as 2023 saw the commencement of funds raised for the School Improvement program and growth in the NSF program as some schools now pay in monthly instalments. Total expenditure was £172.2k compared to £193.8k in the previous year due to lower costs of National School of Forniation events. There were net gains on investments of £12.4k (2023.. £4.8k net losses) reflecting the upward trend in capital markets in 2023 and 2024. The Trustees are keen to ensure that the charity's service5 are open to all irrespective of ability to pay. Therefore, it is their policy to offer subsidised raies, in cases of need, upon application. Six grants totalling £3,125 were off¢r¢d this year for the National School of Forniation (2023.. Three grants totalling £2,660): income is staled net of these amountsi The result for the year was a surplus of £80.5k (2023.. £26.8k), all of which were unrestrict¢d funds. The £8.Ok Tcstricted grant brought forward from the prior year for"Building the Kingdom" was fully expended in the year. RESERVES POLICY It is Ihe intenlion of the Trustees to maintain financial reserves at a level whereby they can fund the ongoing activities of the Charily. Ai the year-end the "free reserves" of the charity, that is total funds excluding restricted funds. stood at £308.3k (2023- £219.9k) which rcpresents about 18 months of budgeted expenditure. Some of the funds are simply a result of timing and will be expL'nded in the coming years. Overall, this align5 With the Trust¢¢s' aim of holding approximately one year's expenditure in reserve. These reserves also provide a sound capital base for the longer tenn, to finance the charity's working capital and ils cash flows since 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. Trustees remain optirnistic 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 sorne of its cash reserves in short terni low risk charity investment funds.
EDUCARE M REPORT OF THE TRUSTEES {Continu¢d) FOR THE YEAR ENDED 31 MARCH 2024 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 p¢riod 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 concem basis unless it is inappropriate to presume that the charitable company will continue on that basis. The Trustees are responsible for the k¢¢ping 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 slatements comply with the Charities Act 201 l and Companies Aci 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 ovember 2024 and signed on their behalf by 7-e1_ (a- Declan Linnane Chair of Trustees
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF EDUCARE M FOR THE YEAR ENDED 31 MARCH 2024 I report to th¢ charity trustees on my examination of th¢ accounts of the Company for the year ended 31 March 2024. Responsibilities and basi5 of the report As the charity's trustees of the Company (and also its diTectors 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'5 accounts as carried out under section 145 of the Charities A¢t 2011 ('the 201 l Act,). In carrying out my examination I have followed the Directions 8iv¢n by the Charity Commission under section 145{5) (b) of the 201 l Act. Independent examiner's report I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe that.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or the accounts do not accord with those record5. or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiremenl that the accounts give a 'true and fair view. which 15 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 lapplicable 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 matter5 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 Longmeade Consult Ltd The Old Rectory Springhead Road Northtleet Kent, DAI18HN 29 November 2024
EDUCARE M STATEMENT OF FINANCIAL ACTIVITIES (Ineluding Income & Expenditure Account) FOR THE YEAR F.NDED 31 MARCH 2024 Total 2024 Total 2023 Unrestricted Restricted Notes (Note 13) INCOME from Granls and Donations Investment income 15,024 289 985 985 Charitable aetivities 239.348 239.348 210.019 Total income 240.333 240.333 225.332 EXPF.NDITURE on Charitable activities 164,248 8.000 172,248 193,752 Total Expenditure 164,248 8,000 172,248 193,752 Net income/{expendilure) before investment gains/(losses) 76,085 (8,000) 68,085 31,580 Net gainsl(losses) on investments 12.402 12,402 (4,773) Nel movement in funds 88,487 (8,000) 80,487 26,807 Accumulated Fund5 Broughi forward at start of year 219,862 8,000 227,862 201,055 Carrled forTrvard at end of year £308J49 £308J49 £227,862 No separate summary income and expenditure account has been prepared because the infonnation it would contain is given in the above statement. The statem¢nt offinancial activities includes all gains and losses recognised in the period. All incom¢ and expenditure expended derive from continuing activities. Th¢ notes fonn part of these financial statements. 10
EDUCARE M COMPANY NUMBER: 3436147 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Investments 106,108 93.706 CURRENT ASSETS Debtors Bank and cash balances 10 35,810 200,778 21,972 150,518 236,588 172,490 LF.SS: CURRENT LIABILITIES Creditors.. amounts falling due within one within one year.. (34,347) (38,334) NET CURRENT ASSETS 202.241 134,156 NET ASSETS £308J49 £227,862 Represented by.. FUNDS: Unrestricted Restricted 308,349 219,862 8,000 12 £308,349 £227,862 The notes forni part of th¢se financial statements. For the year ended 31 March 2024 Ihe company was entitled to exemption from audit under section 477 of the Companies Act 2006 relatingy 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 record5 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 23 .November 2024 and signed on their behalf by Declan Linnane Chair of Trustees
EDUCARE M CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from Operating Activities Net cash outflow from operating activities 50,260 32,648 Invesling Aetivities Purchase of inv¢stm¢nts Change in cash and Cash equivalents in year 50,260 32,648 Cash and cash equivalents at l April 2023 150.518 117.870 Cash and cash equivalents at 31 March 2024 £200,778 £150,518 Notes to the Cash Floiv Statement A. Reconciliation of net movement in funds to net cash flow from operstlng aclivities 2024 2023 Net movement in funds (as per the Statement of Financial Aetivities) Adjustments for: (Increase} in debiors Increase/{decrease)lincrease in crcditors Net gains/(losses) on investments 80,487 26,807 (13,838) (3,987) (12,402) (1,764) 2,832 4,773 Nel Cash (used in) operating activities 50,260 32,648 B. Analysis of cash and cash equivalents Cash at bank and in hand £200,778 £150,518 12
EDUCARE M ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as folluw5'. Basis of preparation These accounts have been prepared for the year ended 31 March 2024. Comparative inforniation is provided in respect of the year ended 31 March 2023. 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 th¢se accounts. They accounts have been prepared in accordance with Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and R¢public of Ireland (FRS 102) {5econd 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 b¢nefit entity as defined by FRS 102. The accounts are presented in sterling and are rounded to the nearcst pound. Critlcal accounting estimates and areas of judgement Preparation of the accounts may require the Trustees to make significant judgements and estimates. There are no significant ilems in the accounts where these judgements and estimates have had to be made. Assessment of going coneern The Trustees have assessed whether the use of the going Concern assumption is appro Trustees have made th15 assessment In respect to a period of one year from the date o riate in approva re aring ihese accounts. The these accounts. The Trustees of the charity have concluded Ihat there are no material uncertainties relatcd to events or conditions that may cast siginificant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion ihat 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 2024, the TNstees consider that there are no significant areas that affect the carrying value of the a5scls held by the charity. Income Income is recognised when the charity has entitlernent to the funds, any perforniance conditions attached to the item(s) of income have been met, it 15 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 perforniance 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 d¢ferred. ncome received in advance of a Conference or the provision of another specified service is deferred unlil the criteria for income recognition are mel. 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 bc measured reliably by the charity. this is nornially upon notification of the interest paid or payable by the bank. Income is slated net of subsidies granted to users of the charity'5 services. An estimated value of the subsidies so given is shown by way of note as a deduction from income. 13
EDUCARE M ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 Expenditure Expenditure is recogniqed once there is a legal or constructive obligation to make a payment to a third paty, it is probable that settl¢ment will be required and the amount of the obligation can bc measured reliably. Expenditure is classified under the following activity headings- Costs of raising funds comprise the costs associated with attracting income and ihe costs of trading for fundraising purposes Expenditure on charitable activities includes the costs of providing consultancy services, running retreats and cours¢s 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 incurycd. 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 cornprise the costs involving th¢ 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 hav¢ 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 sp¢cific 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 ot bank and in hand Cash at bank and cash in hand includes cash and short terni highly liquid investments with a short maturity of three months or less from th¢ date of acquisition or opening of the deposit or similar account. Creditor5 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 nomally reco8nised at their settlement amount after allowing for any trade discounts due. 14
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GRANTS AND DOIYATIONS Total 2024 Total 2023 Unrestricted Restricted Donations 15,024 £15.024 Year ended 31 March 2023 Donations £15.024 £15,024 INVESTMENT INCOME Total 2024 Total 2023 Unrestricted Restricted Bank Interest £985 £985 £289 Bank Interest 2023 £289 £289 INCOME FROM CHARITABLE ACTIVITIES Total 2024 Total 2023 Unrestrieled Restrleted Consultancy fees Conferences School Improvemenl Curriculum Development National Retreat fees National School of Formation (NSF) 23,226 2,918 8,202 34,093 35,285 135,624 23,226 2,918 8.202 34,093 35,285 135,624 24.028 3,484 40 32,351 37.037 113,079 £239,348 £239,348 £210,019 Total 2023 Unrestrieted Restricted Consultancy fees Conferences 24,028 3,484 40 32,351 37,037 113,079 24,028 3,484 40 32,351 37,037 13,079 Curriculum Development National Retreat fees National School of Forniation (NSF) £210,019 £210,019
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestricled Total 2024 Total 2023 Restricted Charitable aetivities Direct costs Consultants, fees and exp¢nseS National Retreat National School of Fomiation {NSF) Conferences Curriculum Development 34,800 32.805 83,804 34,800 32,805 83,804 34,800 30,007 102,852 5,293 156 257 257 151,666 151,666 173,108 Support Costs Office support, printing, postage Travel and subsistence Insurance Other cost5 5.805 1,718 2,425 164 8.000 13.805 1,718 2,425 164 13.170 3.051 2,002 231 10.112 8,000 18,112 18,454 Governance costs (Including Independ¢nt Examination fees) 2,470 2,470 2.190 £164,248 £8,000 £172,248 £193,752 Total 2023 Year ended 31 March 2023 Unrestrieted Restricted Charitablt activitles Direct costs Consuliants, fees and expenses National Relreat National School of Fonnation (NSF) Conferences Curriculum Developmeni 34,800 30,007 102,852 5,293 156 34,800 30,007 102,852 5,293 156 173,108 173,108 Support Costs Office support, printing, postage Travel and subsistence Insurance Other costs 13,170 3,051 2,002 231 13.170 3,051 2.002 231 18,454 18,454 Governance costs (Including Independent Examination fee5) 2,190 2,190 £193,752 £193,752 16
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 MARCH 2024 NET INCOMEIEXPENDITURE FOR THE YEAR 2024 2023 This is staled after charging: Independent Examinevs remuneration Examination Accountancy services 1,050 1,260 990 1,200 £2,310 £2,190 Th¢ rharity does not have any employees. its functions are perfornied by independent consultants and on a voluntary basts. TRUSTEES, EXPENSES & REMUNERATION AND TRANSACTIONS WITH TRUSTEES During the year, no trustees (2023: none) were reimbursed expenses (2023.. £nil). No other payments or transactions occurred with trustees during the year. TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of th¢ TatIOn of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 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 £ I per rnember. INVESTMENTS 2024 2023 Market value at l April 2023 Additions Disposa15 Nel gains/{losses) 93,706 98,479 12,402 (4,773) Markei value at 31 March 2024 £106,108 £93,706 Historical cost at 31 March £95.000 £95,000 All investment5 are held in the United Kingdom and are valued at bid price. The investments are under the management of CCLA Fund Manager5. 10. DEBTORS 2024 2023 Trade Debtors Prepayments and accrued income 33,676 2.134 19,852 2,120 £35,810 £21,972
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (eontinued) FOR THE YEAR ENDED 31 MARCH 2024 CREDITORS: amounts falling due within one year 2024 2023 Accrued expenses Deferred income - deposits held for future conferences 8.393 25,954 7,004 31,330 £34,347 £38,334 12. RESTRICTED FUNDS Balance At l April 2023 Balance At31 March 2024 Income Expenditure Current Year Building the Kingdorn 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 project continued its development during the year, to which the restricted fund was fully applied in the year. Balanee At l April 2022 Balance At 31March 2023 Income Expenditure Prior Year Building the Kingdom Fund 8,000 8,000 18
EDUCARE M NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 13. PRIOR YEAR {2023) STATEMENT OF FINANCIAL ACTIVITIES Total 2023 Unrestricted Restrieted INCOME from Grants and Donations Investment income 15,024 289 15,024 289 Charitable 8ctivities 210,019 210,019 Tolal Ineome 225,332 225,332 EXPENDITURE on Charitable activities Other 193,752 193,752 Total Expenditure 193,752 193,752 Net incomel(exp¢nditure) before gainsl(losses) inv¢5tment 31,580 31,580 Nel {losses)Igains on investments (4,773) (4.773) Net movement in fund$ 26,807 26,807 AceumulAted Funds Brought forward at Start of year 193,055 8,000 201,055 Carried forward ot end of year £219,862 £8,000 £227,862