COMPANY REGISTRATION NUMBER : 04147006
CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 AUGUST 2022
Charity Number : 1088283
Edmund Carr LLP Chartered Accountants 146 New London Road Chelmsford Essex CM2 0AW
CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
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CONTENTS PAGE
Trustees' Annual Report 1
Independent examiner's report 7
Statement of financial activities (incorporating the income and 8
expenditure account)
Balance sheet 9
Notes to the financial statements 10
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31st AUGUST 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31st August 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Chelmsford Counselling Foundation Charity registration number 1088283 Company registration number 04147006 Registered office 42 Cedar Avenue Chelmsford, Essex CM1 2QH THE TRUSTEES Anna Mason Rosalind Park Alison Cowen (Appointed 06/02/2022) Arvinder Mudhar (Appointed 18/03/2022) Caroline Travis (Chair from 20 January 2023) (Appointed 23/11/2022) Jagjeet Panesar (Treasurer) (Appointed 25/11/2022) Rita Askwith (Chair) (Resigned 06/09/2022) Philip Gardiner (Treasurer) (Resigned 31/01/2022) Val Garrett (Resigned 31/03/2022)
Head of Centre and Company Secretary
Laura Marchington
Management Team
Laura Marchington Head of Administration Heather Robbie Head of Training (Resigned November 2021) Charlotte Usher Head of Training (From February 2022) Sarah Warwick Head of Counselling
Advisory Council
Robert Cowlin Amanda Timcke Robert Aldrich Valerie Potter
Consultant Psychiatrist
Dr. Alex Lita
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YEAR ENDED 31st AUGUST 2022
CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (continued)
REPORT CHAIR OF TRUSTEES (covering period 01/09/2021 to 31/08/2022)
Objectives and Activities
Foundation or CCF means Chelmsford Counselling Foundation, CCF’s activities are governed by its Memorandum and Articles of Association dated 24[th] January 2001.
Mission Statement: It is the purpose of the Foundation to offer a professional and affordable psychodynamic counselling service and to train counsellors to nationally accredited standards.
Statement of Public Benefit
The Trustees confirm that they have regard to the Charity Commission’s guidance on public benefit during the year.
The Foundation’s purpose of existence, as outlined in our Mission Statement, is to provide counselling to the general public and to train psychodynamic counsellors. We achieve this through: 1) Offering a counselling service to the general public organisations and to the NHS. 2) By providing training for prospective counsellors up to a professional and Accredited standard.
The British Association for Counselling and Psychotherapy (BACP) accredits our courses. The IAPT scheme has been accounted for separately as it is a fixed contract and not part of CCF core work.
Our counsellors are trained to explore with clients how much they can afford depending on their income. The fee is regularly reviewed.
The foundation offers a wide range of counselling courses: an introductory Certificate in Counselling Skills, a Diploma in Counselling Skills and a Diploma in Psychodynamic Counselling. The latter leads to a recognised professional qualification that is accredited by the British Association for Counselling and Psychotherapy (BACP).
To summarise, the public benefits of our work are:
1) To offer counselling to all members of this community who are qualified to help
2) To offer counselling to clients who are unable to afford the full recommended fee.
3) To offer training that leads to a professional qualification in psychodynamic counselling that can lead to BACP individual counsellor accreditation.
It is important to state that no private benefits result from the activities of our organisation, and to the best of our knowledge, no detriment or harm arises in anyway as a consequence of our work.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31st AUGUST 2022
Structure, Governance and Management of Achievements
To carry out these roles the foundation relies on the service of paid and unpaid staff. They are:
Management comprising of Head of Centre and the managers
Head of Centre
Laura Marchington (nee Eynon) continues to hold the post of Head of Centre. Laura has continued to be highly efficient and extremely hardworking in ensuring that the high standards expected of CCF were maintained during yet another incredibly challenging year. The foundation has had to adapt again to allow the foundation to function smoothly for our students and staff as we transition back to in house counselling and teaching, but this has been constantly reviewed due to more infectious Covid variants. The transition back into the house has, again, required the reassessment of the use of rooms and the safety of clients, students, and staff. More air purifiers have been purchased with funds from the Essex Community Fund. The air purifiers are in place in the Liz Meader Centre, Garden Room and the office and most of the counselling rooms. They are easily moved so they can be transferred elsewhere if required. Some remedial work had to be done after our three-year electrical testing was completed, a new gas supplier was sourced in order to reduce energy costs. Our policies have been reviewed including Financial Control and Data Protection. Our Strategic Planning is on-going project with a newly recruited trustee taking the helm. Thank you, Laura for making my role as Chair relatively stress free!
Managers
Managers are responsible for running the day-to-day business of the foundation. They are responsible for initiating new projects, appointing staff and ensuring that counselling and training runs smoothly. They are the line management to staff and carry out their appraisals. Counselling is at the heart of the foundation and our counselling service is accredited by BACP.
Sarah Warwick remains Head of Counselling.
Heather Robbie Head of Training until 30[th] November 2021.
Thank you, Heather, for continuing to act as Head of Training until the end of November.
Charlotte Usher joined CCF as Head of Training from February 2022.
Charlotte has stressed the importance of in-house training following remote training during the pandemic. This was achieved after the Easter vacation. Charlotte has spent time recruiting new staff for the next academic year, updating handbooks and introducing new systems including a live register system that would give management and training staff immediate information on trainee attendance.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31st AUGUST 2022
Sarah has done a lot of research around what constitutes a “client record” and ensuring our policies adherence to the BACP ethical requirement. Sarah has continuously updated the Counsellors’ Handbook this year in giving guidance around this and updated arrangements regarding risk.
The Foundation had decided not to re-accredit the counselling service with BACP as it is extraordinarily time consuming and there is a great deal of cross-over and duplication between the Head of Counselling and Head of Training documents particularly as BACP is now requesting yearly documentation. CCF would remain accredited to BACP for training. A letter was written to BACP (10[th] January 2022) with our reasons, this has been acknowledged and our service accreditation has now lapsed. We have a verbal contract in place with IAPT but no formal contract, but we are reassured that we will have one soon.
Sarah and Charlotte have a very good relationship and so the training and counselling services continue to run smoothly for the benefit on our students, counsellors, and clients. Thank you.
It has, again, been great credit to CCF’s management team that CCF has continued to offer counselling to our clients and a robust training programme for our students. All staff have been trained to appropriate standards, recommended by BACP, and we continue to transition back to “in house” counselling but to continue to offer a remote service to those clients who do not feel confident to return to CCF premises or prefer remote work. The administrative staff are now all able to work at the foundation and this allows the telephones to be “staffed” during the working week and this allows for support for our current and prospective clients.
Staff are those persons who provide services for the Foundation in any paid or unpaid capacity. This includes, but is not limited to counsellors, seminar leaders, tutors, co-leaders, supervisors, volunteers, and administrative staff.
Staff are essential to the running of the Foundation. They support management in carrying out the business of the Foundation which is to offer counselling and to train counsellors (see Mission Statement above).
On behalf of the Trustees, I would like to recognise and thank all the staff who work for CCF, in whatever capacity, to ensure that CCF has been able to maintain its high standards despite another challenging year.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31st AUGUST 2022
Trustees/Directors are those with legal and financial responsibilities for the Foundation. It is the role of the Trustees to plan and initiate strategic thinking and plan for the future of the Foundation which will ensure that the Foundation will remain a viable business. Trustees aim to support the Head of Centre and the Managers in their task of running the Foundation. They offer a considerable amount of their time and experience to achieve this. Potential Trustees are identified using advertising or current members of the Foundation. Any names put forward are first discussed by the Trustee, and then passed on to the Head of Centre to establish any potential conflict of interest or boundary issues. Suitability regarding experience at the given time will be taken into consideration. The Foundation has recruited two new trustees during the year who bring fresh ideas to the organisation. Two trustees also resigned during the year one of whom was our long-standing Treasurer and I thank him for the years of service he gave to the Foundation.
The Foundation has a regular bi-monthly Board meeting which has mainly been held online. Trustees meet separately, four to six times a year, following the Board meetings and these, again, have mainly been online. Managers and Head of Centre meet every fortnight, but more often if necessary, and many of their meetings have been able to take place at the Foundation.
I would, again, like to thank all members of CCF who have contributed to the success of the Foundation during the past year. It has been their dedication and commitment to counselling and training that has enable us to continue to provide high quality counselling and training in such challenging circumstances. Their ability to adapt and find solutions to all the difficult situations they have faced has been amazing.
This will be my last report as Chair of Trustees following my resignation after 12 years with the Foundation.
Rita Askwith
(Chair of Trustees to 6 September 2022)
Financial Review
The foundation's total income in the year from all sources was £336,177 (2021- £330,424) and expenditure was £298,268 (2021 - £328,463), resulting in a surplus of £37,909 (2021- £1,961).
The main sources of income during the year were the core activities of counselling and training. Our contract for IAPT has expired but we are continuing to provide the service while we wait for a formal decision about contract extension or renewal. Work was completed during the year on a project with an Essex-based charity, Next Chapter, concerned with matters of domestic abuse. This was funded by the Police, Fire and Crime Commissioners. We were grateful to receive support from the Essex Community Fund which was set up to help small organisations during the restrictions of the pandemic, and this allowed us to increase bursaries for client counselling as well as purchase air purifiers and cover other counselling costs.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (continued)
YEAR ENDED 31st AUGUST 2022
Expenditure during the year included the usual costs for staff salaries and for maintaining the premises. The number of paid counsellors fell in the year resulting in a reduction in staff costs. There were increases in lighting and heating costs and these will continue to rise in the coming year.
The year’s financial results mean that the balance sheet as at the end of August 2022 shows total funds of £904,584. Our principal asset is the property in Cedar Avenue, which is currently valued at £712,576. Cash reserves in savings or deposit accounts were £290,415. For security, we limit the amount of funds held in each account.
Reserves Policy
The foundation's free reserves at 31 August 2022, being unrestricted funds not represented by fixed assets or designated for a particular purpose, totalled £92,004 (see note 17). This represents 3 to 4 months of annual expenditure (£75,000 to £100,000) which the Trustees consider to be satisfactory. In addition the foundation has a designated operational contingency reserve of £90,675 to ensure the continuity of counselling services.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published on 16 July 2014.
This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.
This report was approved by the trustees on 20 January 2023 and signed on their behalf by:
................................... Anna Mason Trustee
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31st AUGUST 2022
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 August 2022 which are set out on pages 8 to 16.
Responsibilities and basis of report
As the charity 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 company’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 statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
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Raymond Crace FCA 146 New London Road Chelmsford CM2 0AW
......................... 25 January 2023
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31st AUGUST 2022
| Note INCOME from: Donations 2 Investments 3 Charitable activities 4 Other 5 TOTAL INCOME EXPENDITURE on: Charitable activities 6 TOTAL EXPENDITURE NET INCOME / NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward Total funds carried forward |
Total Funds Total Funds 2022 2021 £ £ 12,823 5,802 823 495 320,131 321,727 2,400 2,400 336,177 330,424 298,268 328,463 298,268 328,463 37,909 1,961 866,675 864,714 904,584 866,675 |
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All of the above amounts relate to continuing activities All funds are unrestricted.
The notes on pages 10 to 16 form part of these financial statements.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT 31st AUGUST 2022
| Note FIXED ASSETS Tangible assets 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS: Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS OF THE CHARITY 15 Unrestricted funds Revaluation Reserve TOTAL CHARITY FUNDS |
£ £ 721,905 39,924 290,415 330,339 (147,660) 182,679 904,584 904,584 650,679 253,905 904,584 2022 |
£ £ 726,883 53,234 273,550 326,784 (186,992) 139,792 866,675 866,675 612,770 253,905 866,675 2021 |
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For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' 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 trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
These financial statements were approved by the trustees on 20 January 2023 and are signed on their behalf by:
...................................
A MASON (Trustee)
Company Registration Number: 04147006
The notes on pages 10 to 16 form part of these financial statements.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
1. ACCOUNTING POLICIES
Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (effective 1 January 2019) (Charities SORP FRS 102) and the Companies Act 2006.
Legal Status
Chelmsford Counselling Foundation is a charitable company limited by guarantee. It is incorporated in England and Wales and its registered address is 42 Cedar Avenue, Chelmsford, Essex CM1 2QH. The company meets the definition of a public benefit entity under FRS 102.
Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Fund accounting
Funds held by the charity are either:
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds - these are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity.
Income
All incoming resources are accounted for when the charity is legally entitled to the income. Fees and deposits received for courses commencing after the period end are recognised as deferred income and included under creditors.
Expenditure
All expenditure is accounted for on an accruals basis and includes VAT as the charity is not VAT registered.
Support costs relate to expenditure to support the charitable activities of the charity which cannot be directly attributed to either counselling or training.
Governance costs are those costs incurred in connection with the administration of the charity including compliance with constitutional and statutory requirements.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
1. ACCOUNTING POLICIES (continued)
Fixed assets
All fixed assets are initially recorded at cost or deemed cost under FRS102.
Tangible fixed assets costing more than £250 are capitalised in the accounts.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Equipment 25% straight line Fixtures and fittings 25% straight line
The trustees do not wish to depreciate the freehold property as it is revalued regularly.
Debtors
Trade and other debtors are recognised at the settlement amount due.
Creditors
Creditors 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 are normally recognised at their settlement amount.
Tax status
The company is a registered charity and is not subject to corporation tax on its charitable activities.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
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2. DONATIONS Total Funds Total Funds
2022 2021
£ £
Essex Community Foundation 12,254 4,492
General donations 569 1,310
12,823 5,802
3. INVESTMENT INCOME Total Funds Total Funds
2022 2021
£ £
Bank interest receivable 823 495
4. INCOME FROM CHARITABLE ACTIVITIES Total Funds Total Funds
2022 2021
£ £
Counselling income 139,238 153,025
Training income 180,893 168,702
320,131 321,727
5. OTHER INCOME Total Funds Total Funds
2022 2021
£ £
Room hire 2,400 2,400
6. COSTS OF CHARITABLE ACTIVITIES Total Funds Total Funds
2022 2021
£ £
Counselling - direct costs 82,460 98,767
Training - direct costs 68,073 72,608
Support costs (note 7) 144,308 153,979
Governance costs (note 8) 3,427 3,109
298,268 328,463
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
| 7. SUPPORT COSTS Staff wages/costs Other 8. GOVERNANCE COSTS Independent Examination fee Accounts preparation Fees payable to Independent Examiner Other fees and expenses Training and travel 9. NET INCOME FOR THE YEAR This is stated after charging: Depreciation 10. STAFF COSTS AND EMOLUMENTS Total staff costs were as follows: Wages and salaries Social security costs Employer pension contributions Particulars of employees: The average number of staff employed during the year (head count) was as follows: Number of administrative staff Number of management staff Number of counsellors |
Total Funds 2022 £ 108,989 35,319 144,308 Total Funds 2022 £ 1,014 1,675 2,689 576 162 3,427 Total Funds 2022 £ 4,978 Total Funds 2022 £ 223,186 4,706 4,235 232,127 2022 No 4 3 25 32 |
Total Funds 2021 £ 110,257 43,722 153,979 Total Funds 2021 £ 1,014 1,625 2,639 388 82 3,109 Total Funds 2021 £ 4,228 Total Funds 2021 £ 234,683 4,932 3,852 243,467 2021 No 3 3 27 33 |
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No employee received remuneration of more than £60,000 during the year (2021 - None). Total key management personnel remuneration benefits during the year amounted to £39,155 (2021 - £39,441).
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
11. TRUSTEES' REMUNERATION
No emoluments were received or waived by trustees during the year. Trustees were reimbursed with travel expenses of £31 in the year (2021: none).
12. TANGIBLE FIXED ASSETS
| COST OR VALUATION At 1st September 2021 Additions Disposals At 31st August 2022 DEPRECIATION At 1st September 2021 Charge for the year On disposals At 31st August 2022 NET BOOK VALUE At 31st August 2022 At 31st August 2021 |
Freehold property £ 712,576 - - 712,576 - - - - 712,576 712,576 |
Equipment £ 26,365 - - 26,365 18,123 2,909 - 21,032 5,333 8,242 |
Fixtures & Fittings £ 26,417 - - 26,417 20,352 2,069 - 22,421 3,996 6,065 |
Total £ 765,358 - - 765,358 38,475 4,978 - 43,453 721,905 726,883 |
|---|---|---|---|---|
The freehold property (42 Cedar Avenue) was revalued at 28th April 2017 at £700,000. The valuation was carried out on the basis of vacant possession (comparative and investment) market value. The valuation was carried out by Chartered Surveyors. The historic cost is £270,398. The next valuation will be carried out in 2023.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
| 13. DEBTORS Trade debtors Accrued Income IAPT Prepayments Sundry debtors 14. CREDITORS Trade creditors PAYE and social security Deferred income Accruals Other creditors |
2022 £ 34,810 2,090 2,714 310 39,924 2022 £ 1,296 2,154 122,877 21,092 241 147,660 |
2021 £ 44,323 4,115 3,046 1,750 53,234 2021 £ 6,422 2,654 155,108 22,749 59 186,992 |
|---|---|---|
Deferred income relates to fees and deposits received in advance for training courses commencing in September 2022 and income on a PFCC contract with performance related conditions that have not yet been fulfilled. Deferred income at 31 August 2021 of £149,371 has been released in the year. Income of £117,140 relating to training fees has been deferred at 31 August 2022.
15. UNRESTRICTED INCOME FUNDS
| General unrestricted funds Designated funds: Freehold property Revaluation reserve Operational contingency |
Balance at 01/09/2021 £ 63,424 458,671 253,905 90,675 866,675 |
Incoming resources £ 336,177 - - - 336,177 |
Outgoing resources £ (298,268) - - - (298,268) |
Gains/losses & transfers £ - - - - - |
Balance at 31/08/2022 £ 101,333 458,671 253,905 90,675 904,584 |
|---|---|---|---|---|---|
The freehold property fund and revaluation reserve represent the value of the freehold property held by the charity but not immediately available as free funds.
The operational contingency reserve fund is allocated to ensure continuity of counselling services.
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CHELMSFORD COUNSELLING FOUNDATION COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 2022
17. ANALYSIS OF NET ASSETS (between restricted and unrestricted funds)
| Unrestricted income funds: Designated funds General funds Total funds |
Tangible fixed assets £ 712,576 9,329 721,905 |
Other net assets £ 90,675 92,004 182,679 |
Total £ 803,251 101,333 904,584 |
|---|---|---|---|
18. COMPANY LIMITED BY GUARANTEE
The company is a company limited by guarantee. The members of the charity are the trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
19. RELATED PARTIES
There were no related party transactions that require disclosure during the year.
20. PRIOR YEAR FUNDS NOTE
UNRESTRICTED INCOME FUNDS
| General unrestricted funds Designated funds: Freehold property Revaluation reserve Operational contingency |
Balance at 01/09/2020 £ 61,463 458,671 253,905 90,675 864,714 |
Incoming resources £ 330,424 - - - 330,424 |
Outgoing resources £ (328,463) - - - (328,463) |
Gains/losses & transfers £ - - - - - |
Balance at 31/08/2021 £ 63,424 458,671 253,905 90,675 866,675 |
|---|---|---|---|---|---|
The freehold property fund and revaluation reserve represent the value of the freehold property held by the charity but not immediately available as free funds.
The operational contingency reserve fund is allocated to ensure continuity of counselling services.
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