Charity Registration Number: 1099040 Company Registration Number: 4683168
All Saints Children's Ventures (Limited by Guarantee)
Trustees' Report and Financial Statements
for the year ended 31st August, 2020
All Saints Children's Ventures (Limited by Guarantee)
Contents
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Directors' and Trustees’ Report | 2-4 |
| Independent Examiner's Report | 5 |
| Statementof Financial Activities and Income and ExpenditureAccount | 6 |
| Balance Sheet | 7 |
| NotestotheFinancialStatements | 8-11 |
All Saints Children's Ventures (Limited by Guarantee)
Page 1
Charity Information
| Charity Name: | All Saints Children's Ventures | |
|---|---|---|
| (Limited by Guarantee) | ||
| Charity Registration Number: | 4683168 | |
| Company Registration Number: | 1099040 | |
| Governing Document: | Memorandum and Articles ofAssociation dated 16th February2003 | |
| Registered Office: | All Saints Church | |
| 93 Forefield Lane | ||
| Liverpool | ||
| L23 9TQ | ||
| Principal Business Address: | All Saints Children'sVentures | |
| 93 Forefield Lane | ; | |
| Liverpool | ||
| L23 89TQ | ||
| Directors/Trustees: | Rev'd K Rogers (Chair) | |
| Mr B Bennett (resigned 6th Feb | 2020) | |
| Mr D Bruford | ||
| Mrs E Collins | ||
| Mrs KZimak | ||
| Mrs L Davies | ||
| Mr P Collins | ||
| Mrs C McGreal | ||
| MsA Pennington | ||
| Company Secretary: | MrAlan Mears | |
| Principal Officer: | MrsJanine Perry | |
| Independent Examiner: | MrC S Hughes | |
| 106 Stanley Park | ||
| Litherland | ||
| Liverpool | ||
| L21 9JU | ||
| Bankers: | HSBC plc | |
| 99-101 Lord Street | ||
| Liverpool | ||
| L2 6PG | ||
| NatWest Bank plc | ||
| Liverpool Customer Service Centre | ||
| StevensonWay | ||
| Wavertree | ||
| Liverpool | ||
| L13INW |
Page 2
All Saints Children's Ventures (Limited by Guarantee)
Trustees’ Report for the year ended 31st August, 2020
The trustees, who are also directors for the purposes of company law, present their annual report and the financial statements for the year ended 31st August, 2020.
Reference and administrative details
The details are set out on page 1. Trustees Rev'd K Rogers (Chair) Mrs L Davies Mr B Bennett (resigned 6th Feb 2020) Mr P Collins Mr D Bruford Mrs C McGreal Mrs E Collins Ms A Pennington Mrs K Zimak
L Davies and E Collins retire by rotation. E Collins, being eligible, offers herself for re-election.
Structure, Governance and Management Governing document
The charity is a company limited by guarantee governed by its Memorandum and Articles of Association dated 16th February 2003, which are approved by the Charity Commission. The company is registered as a charity with the Charity Commission.
There are currently 32 Members (2019: 32), each of whom agrees to contribute £1 in the event of the charity winding up.
Appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles of Association are known as the Board of Directors. Under the requirements of the Memorandum and Articles of Association, the Trustees are eligible, as the Board of Directors, to appoint additional trustees. The Minister in charge of All Saint's Parish Church shall be an ex-officio trustee.
Trustee induction and training
New trustees are provided with appropriate induction on their legal obligations when they join the Board and are given the appropriate support by the manager and other trustees. Training is given to new trustees as and when required.
Organisation
The board of trustees normally has up to 10 members, although a general meeting may appoint additional trustees. The board normally meets bi-monthly to administer the charity. The manager (Janine Perry) is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations the manager has delegated authority, within the terms of delegation approved by the trustees, for operational matters
Related parties
The Rev'd K Rogers is chair of the All Saints Children's Ventures as well as being chair of the All Saints with St Frideswyde Parochial Church Council (PCC) which owns the building from which the charity operates. Mrs K Zimak is also a trustee for both organisations and Mr D Bruford's spouse, Mrs A Bruford, is a PCC member. Mr A Mears who is the company secretary but not a trustee of the charity is also a member of the PCC.
Investment powers and policy
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish.
The trustees, having regard to the liquidity requirements of the company and to the reserves policy have operated a policy of keeping available funds in an interest bearing deposit account with the company's bankers.
Page 3
All Saints Children's Ventures (Limited by Guarantee)
Trustees’ Report for the year ended 31st August, 2020 (continued)
Risk management
The trustees have a risk management and control strategy which consist of:
-
a review of the principal risks and uncertainties that the charity faces;
-
~ the establishment of policies, systems and procedures to mitigate those risks identified in the review; and
-
- the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due and active management of trade debtor and creditor balances to ensure sufficient working capital by the charity.
Attention has also been focussed on non-financial risks arising from the safeguarding of children, fire, health and Safety of clients and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place and regular awareness training for staff working in these operational areas.
Objectives and activities
The Charity’s objectives are to (a) promote and advance good quality play opportunities for children in out of school settings in the Borough of Sefton, Merseyside. This included promoting and advancing the care and education of such children. (b) promote and advance the training of persons in providing play, care and education for children in out of school settings in the Borough of Sefton, Merseyside.
When planning our activities for the year, the trustees gave consideration to the Charity Commission's guidance on public benefit.
Achievements and performance during the year
This has been an extraordinary year that we have been through and there has been an immense amount of work done to enable safe reopening for both children and staff. We are indebted to Janine who has worked tirelessly throughout the year to ensure that we stayed in touch with our families during the lockdown of summer 2020 and that we reopened safely and with an enganced setting.
The Quality and Education sub-committee: Janine Perry, Caroline Collins, Kathleen Zimak and Alan Mears facilitated all the changes required in terms of procedures, safety equipment, new pod screens and the duplicate play equipment. We wish to thank them and commend their work and achievements.
The finance group of Paul Collins, Lorna Davies and Anne Pennington have also worked really hard to keep us stable financially during this time when many childcare settings have floundered and again we want to thank them for their hard work and diligence.
Finally, many thanks to Claire McGreal and David Bruford who, as trustees have contributed greatly to our continued excellence in provision.
Financial Review
Results for the year
The results for the year are set out on page 6.
Reserves policy
The trustees have reviewed the reserves of the company and have recognised the need to establish an appropriate level of working capital to sustain the future operations and obligations in the event of unforeseen reductions in it's income streams. The aim of the trustees is to retain sufficient freely available reserves equivalent to at least four months essential staff and overhead costs to enable the company to meet it's obligations. The level of freely available reserves required to meet this objective is considered by the trustees to be £50,000. As at 31st August 2020 the level of reserves was £160,150 (2019: £121,548). In order to track this objective and bring focus to the target for building the reserves, funds are being placed in an appropriate savings account each year as and when cash flow permits.
All Saints Children’s Ventures (Limited by Guarantee)
Page 4
Trustees’ Report for the year ended 31st August, 2020 (continued)
Plans for future periods
It is fair to say that our minds and hearts have been occupied with the short term over the past fourteen months and future planning has been put on hold.
We continue to aim for enhancements in provision and have enjoyed the improvements in the grounds that All Saints with St Frideswyde eco church has brought. We hope to further enhance the outdoor play areas and will work with the church on this when we are able.
We also want to develop our staff team and training and development continues to be a priority.
With the sad resignation of some of our trustees we hope to recruit new trustees to join our team who share our passions for excellence in child care.
Trustees’ responsibilities in relation to the financial statements
Company and charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of its surplus or deficit for that year . In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
- observe the methods and principles on the Charities SORP; - make judgements and estimates that are reasonable and prudent; - State whether applicable Accounting Standards and Statements of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements;
-
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report is prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime.
This report was approved by the Board of Trustees on 10th March 2021 and signed on its behalf by:
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Rev'd ee (Chair)
Director
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All Saints Children's Ventures (Limited by Guarantee) independent Examiner's Report to the Trustees of All Saints Children's Ventures
Page 5
| report to the trustees on my examination of the accounts of the company for the year ended 31st August 2019.
Responsibilities and basis of report
As the charity trustees of the company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2014 (‘the Act’).
| report in respect of my examination of the company's accounts carried out under section 145 of the 2014 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
independent Examiner's Statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: (1) accounting records were not kept in respect of the company as required by section 130 of the Act: or (2) the accounts do not accord with those records: or (3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 @ proper understanding of the accounts to be reached.
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i e
# J , ; we }
Mr C S Hughes Da
106 Stanley Park ;
Litherland :
121 9JU
16th March 2021
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All Saints Children's Ventures
Page 6
(Limited by Guarantee)
Statement of Financial Activities and Income and Expenditure Account for the year ended 31st August, 2020
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|TOTAL FUNDS|
|Funds|2020|2019|
|Note|£|£|£|
|INCOME|FROM:|
|Investments|2|213|213|222|
|Charitable|activities|3|233,470|233,470|249,639|
|TOTAL INCOME|233,683|233,683|249,861|
|EXPENDITURE|ON:|
|Charitable|activities|4|195,081|195,081|206,029|
|TOTAL|EXPENDITURE|195,081|195,081|206,029|
|NET|INCOME/(EXPENDITURE)|BEFORE|
|TRANSFERS|38,602|38,602|43,832|
|GROSS TRANSFERS|BETWEEN|FUNDS|0|0|0|
|NET MOVEMENT|IN FUNDS|38,602|38,602|43,832|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|at|1st|September,|2019|121,548|121,548|77,716|
|Total|funds|carried|forward|at 31st August,|2020|160,150|160,150|121,548|
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There are no recognised gains or losses other than the net movement in funds for the above two financial periods. The notes on pages 8 to 11 form part of these accounts.
All Saints Children's Ventures (Limited by Guarantee)
Page 7
Balance Sheet at 31st August, 2020
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|||||||
|---|---|---|---|---|---|
|2020|2019|
|Note|£|£|
|CURRENT ASSETS|
|Debtors|t|173|785|
|Cash|at bank and|in|hand|198,291|150,317|
|.|Total|current|assets|198,464|151,102|
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|8|38,314|29,554|
|NET CURRENT ASSETS|160,150|121,548|
|TOTAL ASSETS LESS CURRENT|LIABILITIES|160,150|121,548|
|CREDITORS: AMOUNTS|FALLING|DUE AFTER MORE THAN ONE|
|YEAR|0|0|
|TOTAL NET ASSETS|160,150|121,548|
|FUNDS OF THE|CHARITY|9|:|
|Unrestricted|160,150|121,548|
|Total|charity funds|160,150|121,548|
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In approving these financial statements as directors of the company we hereby confirm:
(a) that for the year stated above the company was entitled to the exemption from audit under Section 477 of the Companies Act 2006: (b) that no notice has been deposited at the registered office of the company pursuant to Section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 31st August, 2020 and
(c) that we acknowledge our responsibilities for: (1) ensuring that the company keeps accounting records which comply with the requirements of the Act; and (2) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year, and of its profit or loss for the year then ended in accordance with the requirements of the Companies Act (‘the Act'), and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company. The financial statements are prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by thé Board of Trustees on 10th March 2021 and signed on its behalf by:
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Rev'd K Rogers hat
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Mrs Edith Collins
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Company Registration Number: 1099040 The notes on pages 8 to 11 form part of these accounts.
Page 8
All Saints Children's Ventures (Limited by Guarantee)
Notes to the Financial Statements for the year ended 31st August, 2020
1 Accounting policies
The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2015 FRS 102), applicable UK Accounting Standards and the Companies Act 2006.
The company has taken advantage of the exemption in FRS102 from the requirements to prepare a cash flow Statement on the grounds that it is a small company.
Funds
General funds represent the funds of the charity that are not subject to any restrictions regarding their use and are available for application on the general purposes of the charity. Funds designated for a particular purpose by the trustees are also unrestricted.
Restricted funds are funds subject to specific conditions imposed by the donors or through the terms of an appeal.
The accounts include all transactions, assets and liabilities for which the charity is held responsible in law. They do not include the accounts of groups that owe their main affiliation to another body.
Turnover
Turnover comprises the amounts receivable in respect of grants, donations and childcare fees.
Income from:
Investments
Dividends and interest are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting period.
Expenditure on:
Charitable activities
Charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Contingent Liabilities and Provisions
In accordance with the SORP, a contingent liability is disclosed for those grants, which do not represent liabilities, where the possible obligation, which arises from past events, will only be confirmed by the occurrence of one or more uncertain future events not wholly within the trustees’ control. Provisions are recognised for those grants where there is uncertainty as to the timing or amount, and any uncertainty regarding the amount is more than one of determining a basis for reasonable estimation of the liability arising from that constructive obligation.
Charitable status and taxation
As a registered charity, the company benefits from rates' relief and is generally exempt from income tax and corporation tax. The charity is not registered for value added tax.
Page 9
(Limited by Guarantee)
All Saints Children's Ventures
Notes to the Financial Statements for the year ended 31st August, 2020
| Unrestricted | TOTAL | Unrestricted | TOTAL | ||
|---|---|---|---|---|---|
| 2 | INCOMEFROM: Investments |
Funds £ |
2020 £ |
Funds £ |
2019 i |
| Dividends and interest (including any | |||||
| reclaimed tax): | |||||
| -on cash deposits | 213 | 213 | 222 | 222 | |
| 213 | 213 | 222 | 222 | ||
| 3 | Charitable activities | ||||
| Childcare fees EarlyYears Education Funding Furlough GrantClaims Miscellaeous income |
106,760 110,029 16,139 542 |
106,760 110,029 16,139 542 |
165,422 84,060 ¢) 157 |
165,422 84,060 0 157 |
|
| EXPENDITURE ON: | 233,470 | 233,470 | 249,639 | 249,639 | |
| 4 | Charitable activities | ||||
| Wagesand salaries Employers National Insurance Staffpension costs Staffuniformsand training costs Rentpayable Insurance Advertising and marketing Recruitmentcosts Cleaningandwaste disposal Repairs and maintenance Telephone& internet Activity supplies Soundproofing Computersand software Refreshments Legal and professional fees Printing, postage and stationery Motorand travel expenses Bad debts Bankcharges Subscriptions Sundries Independent examination COVID 19 Equipment/Costs |
150,345 4,064 1,526 438 17,486 1,339 0 1,937 797 123 612 3,823 0 348 3,180 516 661 194 0 569 701 143 80 6,199 195,081 |
150,345 4,064 1,526 438 17,486 1,339 0 1,937 797 123 612 3,823 0 348 3,180 516 661 194 0 569 701 143 80 6,199 195,081 |
152,986 Ea oll 1,444 1,699 19,428 1,364 754 913 892 rir 807 6,550 3,600 1,587 4,998 670 2,616 60 273 716 564 130 80 fe) 206,029 |
152,986 3,181 1,444 1,699 19,428 1,364 754 913 892 717 807 6,550 3,600 1,587 4,998 670 2,616 60 273 716 564 130 80 O 206,029 |
Page 10
All Saints Children's Ventures (Limited by Guarantee)
Notes to the Financial Statements for the year ended 31st August, 2020
| 5 | StaffCosts | 2020 | 2019 |
|---|---|---|---|
| WagesandSalaries Social Security Costs Pension Costs |
z. 150,345 4,064 1,526 |
£ 152,986 3.181 1,444 |
|
| 155,935 | 157,611 |
The average number of full-time equivalent employees (including casual and part-time staff) employed by the company during the year was as follows:
| The averageaverage number of full-timefull-time equivalent employeesemployees (including company during the year waswas as follows: |
(including casual and part-time staff) employed | employed by thethe |
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Administration | 2 | 2 |
| Projects, activities and sessions | 8 | 7 |
| : |
During the year the charity employed members of staff as detailed above. None (2019: None) of whom earned more than £60,000 p.a. The trustees received £Nil remuneration (2019: ENil) during the year. Trustees were reimbursed travelling and subsistence expenses of £Nil (2019: £Nil) for the year. There were no other discloseable transactions in respect of trustees, persons closely connected with them or other related parties
6 Pensions
The company operates a NEST defined contribution schemes in respect of employees. The scheme and it's assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £1526 (2019: £1444).
| 7 | Debtors: | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Trade debtors | 173 | 785 | |
| Prepayments and accrued income | 0 | 0 | |
| 173 | 785 | ||
| 8 | Liabilities: Amounts falling due within one year | 2020 | 2019 |
| e | £ | ||
| Trade Creditors | 666 | 435 | |
| Othertaxes and social securitycosts Accruals and deferred income |
(335) 37,983 |
523 28,596 |
|
| 38,314 | 29,554 |
9 Analysis of Net Assets by Fund
| Analysis of Net AssetsAssets by Fund | |||
|---|---|---|---|
| Unrestricted | Restricted | ||
| Funds | Funds | Total | |
| £ | £ | £ | |
| CurrentAssets | 198,464 | 0 | 198,464 |
| Current Liabilities | (38,314) | 0 | (38,314) |
| Liabilities after more than one year | 0 | 0 | 0 |
| FundBalance | 160,150 | 0 | 160,150 |
All Saints Children's Ventures (Limited by Guarantee)
Page 11
Notes to the Financial Statements
for the year ended 31st August, 2020
10 Movement on funds
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At ist Incoming At 31st
Septembe Resources Outgoing August,
r, 2019 (inc. gains) Resources _ Transfers 2020
Unrestricted funds £ £ £ £ £
General fund 121,548 233,683 195,081 0 160,150
Total unrestricted funds 121,548 233,683 195,081 0 160,150
Total funds 121,548 233,683 195,081 0 160,150
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11 Fund Details
Details of the various funds held by the charity are as follows: Name of fund Description, nature and purposes of the fund Unrestricted funds General fund Any monies not included in any other fund.
12 Related Parties
During the period the charity paid £10,098 (2019: £8,457) to All Saints with St Frideswyde PCC a charity to which some trustees of this charity are related, as mentioned in the trustee's’ annual report.
13 Taxation
As a charity, All Saints Children's Ventures is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
14 Contingent liabilities
The company had no contingent liabilities at 31st August, 2020 (2019: None).
15 Capital commitments
The company had no capital commitments at 31st August, 2020 (2019: £Nil ).
16 Members’ liability
The company is limited by guarantee, and, in the event of the winding up of the company, the liability of each member (including those members who have served within the previous twelve months) is limited to a contribution of £1 towards the cost of dissolution and the liabilities incurred by the charity while the contributor was a member.