Company registration number: 04245798 Charity registration number: 1099376
Compass Disability Services
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
Compass Disability Services
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees Report (incorporating the Director's Report) | 2 to 7 |
| Independent Auditors' Report | 8 to 11 |
| Consolidated Statement of Financial Activities | 12 |
| Consolidated Balance Sheet | 13 |
| Balance Sheet | 14 |
| Consolidated Statement of Cash Flows | 15 |
| Notes to the Financial Statements | 16 to 36 |
Compass Disability Services
Reference and Administrative Details
Trustees Mr Mark Oldershaw Ms Pauline Tilley Mr Gary Smith Mrs Tracey Oldershaw Ms Denise Hole Ms Alison Hart Secretary & CEO Mr Richard Pitman Charity Registration Number 1099376 Company Registration Number 04245798 The charity is incorporated in England and Wales. Registered Office Unit 11-12 Belvedere Trading Estate Taunton Somerset TA1 1BH Auditor Westcotts (SW) LLP 47 Boutport Street Barnstaple Devon EX31 1SQ
Page 1
Compass Disability Services
Trustees Report (incorporating the Director's Report)
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2024.
Well, another financial year comes and goes and for the first time in many a year we sit at the end of the year in a more positive financial position than we have for a long time. This does not by any means mean the future is still not difficult, but it shows that our approach is in the right direction Part of this optimism is about future predictions and growth if we carry along the current trajectory.
However we are living in a world of a cost of living crisis, extortionate fuel bills and with councils that are predicting bankruptcy so with the events of 2020 still fresh in the back of our minds we are by no means counting our chickens. There is no more a better exam of this than the news that's the first of April will see the minimum wage increase significantly buy a pound per hour and whilst we fill this is fantastic news for our staff and may further help the difficult recruitment process this creates further pressures on tight budgets.
One of the key highlights of the year was the completion of the Cogs new building and seeing them moved in to our social club with a pub/cafe feel this will enable the service to accommodate many more customers as we move forward this move has also freed up space for the Compass Everyday Open College which we are pleased to have accepted two new students during this year which are small numbers but this allows us to grow in line with the development for the service.
Whilst we had made the decision in previous years to no longer actively tender for independent living support services due to the little return and continue to support individual customers who come to us however join the year the Dorset services that we currently old hold did come up for tender as a largest service including managed and employment support we were pleased that we succeeded in the tender and we'll continue to live support to save his people managing their direct payments endorse it over the coming years the wellbeing centre being our one service that continues to be affected by the pandemic is gradually seen growth within the Centre but on top of the steady return we continued to be affected by other influences such as the weather school holidays and events that we just cannot explain. Which in a service where we are struggling to come near to breaking even has made this year's budget even more challenging. Although the team are doing an incredible job in growing the service there continues to be challenges in the amounts we can charge before people turn.
Objectives and Public Benefit Statement
Ensuring Our Work Delivers Our Aims
We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to the people we are set up to help.
The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in Sections G2 and G4 of the Charity Commission’s General Guidance on Public Benefit (January 2008) when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Page 2
Compass Disability Services
Trustees Report (incorporating the Director's Report)
How Our Activities Deliver Public Benefit
Our main activities and who we try to help are described below. All our charitable activities focus on the improvement in the quality of life for disabled people and carers and are undertaken to further our charitable purposes for the public benefit.
Fundraising
The charity carries out limited small scale fundraising activities such as lotteries, raffles, bingo and collections at carnivals and does not use professional fundraisers or involve commercial participators. The nature of the fundraising activities undertaken are not unreasonable, intrusive or persistent and there have been no complaints about fundraising activities during the year. The charity follows the regulation specific to the activities and follows the Fundraising Regulator’s Code of Fundraising Practice. There has been no failing by the charity or anyone acting on its behalf to comply with the standards or regulations. In the year to 31 March 2024 the total amount of donations was £5,555 (2023: £11,449) which were used to fund the services the charity provides.
Charitable Objects of Compass Disability Services
The relief of persons with disabilities and carers in such charitable ways as the Trustees determine from time to time.
Aims of the Charity
This relief to be achieved through the provision of specialist support, consultation and research services to relieve the needs of such persons.
Achievement and Activities
The Trustees continue to oversee the governance and strategic development of the organisation and ensure that it fulfils its legal and financial requirements.
All existing contracts have continued to grow
Compass wellbeing continues to establish itself in the community this year has been far more successful seeing some services reach in their full capacity for example the hydro pool. We now have a better idea of what people want and what they are willing to pay for this is has also seen a increased reliance on Grant funding to subsidize services
As of March 2024 we have 8 volunteers to work in various parts of the organisation.
Main Objectives for the Year
• To deliver professional services, in accordance with the agreed contract specification, local need and legislation.
• To enhance health and social care professional’s understanding of the needs of disabled people and carers.
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To make staff and volunteers aware of legislative changes as appropriate to their role.
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To seek and secure funding to support priorities identified by projects.
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To identify innovative opportunities to increase efficiency and reduce overheads.
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To seek to deliver and develop services that recognises peoples need for choice and control.
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To deliver services that recognise and address the health and wellbeing needs of service users.
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Compass Disability Services
Trustees Report (incorporating the Director's Report)
Plans for the Future
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The Trustees and Management aim to continue building the organisation through the exploration of
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new service delivery contracts.
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We continue to research further funding opportunities to enable us to meet our objectives.
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To develop the presence and profile of the organisation across Somerset and other counties.
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To effectively market and promote our services to maximise income.
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To secure and retain appropriate quality marks and affiliations that evidences our commitment to
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professionalism and quality practices.
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To secure funding through tendering and re-tendering for services that will help support the long
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term sustainability of the organisation.
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To identify innovative opportunities to maximise income, increase efficiency and reduce overheads.
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To seek to deliver and develop services that recognises peoples need for choice and control.
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To deliver services that recognises and addresses the health and wellbeing needs of customers.
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To ensure all services are robustly assessed for risk and equality impact and control measures
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implemented.
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To remain focused on staff development and opportunities for progression.
Structure, governance and management
Nature of governing document
The charity is constituted as a company limited by guarantee in England and not having a share capital under the Companies Act. It is governed by the terms of its Memorandum and Articles of Association established 4 July 2001 and amended 2 April 2002, 25 November 2002, 8 September 2003, 7 March 2007, 2 July 2008 and 16 June 2010. The charity was entered in the Central Register of Charities with effect from 11 September 2003 with registered number 1099376.
Recruitment and appointment of trustees
Trustees of Compass Disability Services are recruited and appointed in line with our trustee recruitment procedure. The main points of the policy are that we should seek to recruit 80% of our trustees from our membership to ensure our user led approach. This is done through regular articles in our magazine and an annual wider recruitment drive. Once potential trustees are identified, appointment is undertaken in line with the above procedure.
The above recruitment and appointment policy is in accordance with the charity’s Articles of Association and with company law.
Induction and training of trustees
Once appointed all trustees undertake an induction procedure which is outlined in the trustee recruitment procedure and includes understanding the organisation, their roles and responsibilities and relevant paperwork.
Beyond this, trustees undertake an annual skills analysis to ensure the appropriate training is available to them.
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Compass Disability Services
Trustees Report (incorporating the Director's Report)
Arrangements for setting key management personnel remuneration
The trustees consider that the board of trustees and the CEO comprise the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in notes 11 and 25 to the accounts.
Trustees are required to disclose all relevant interests and register them and in accordance with the charity's policy withdraw from decisions where a conflict of interest arises.
Pay policy for senior staff
The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings or cost of living increase. In view of the nature of the charity, the CEO’s pay level is benchmarked against other organisations of a similar size.
Organisational structure
The charity holds 100% of the shares in CDST Limited. This trading subsidiary undertakes the operation of the Wellbeing Centre on behalf of the charity. CDST Limited has taken over the contracts for independent living services. The consolidated accounts incorporate the results of both entities.
Major risks and management of those risks
Risk Management
The trustees and senior managers have a risk management policy which comprises of:
• an annual 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 annual review
• the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
Financial sustainability
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, regular liaison with the senior management, and active management of trade debtors and creditors balances to ensure sufficient working capital
Non-financial risks
Attention has also been focused on non-financial risks arising from fire, health and safety 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.
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Compass Disability Services
Trustees Report (incorporating the Director's Report)
Financial review
Financial Reporting
The attached accounts show the financial state of affairs of Compass Disability Services at 31 March 2024 and the incoming resources and resources expended for the year ended 31 March 2024. The Trustees consider that the financial position of the charity at the year end is soundly based.
The Trustees confirm that the accounts comply with statutory requirements, the charity’s constitution and with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS102)).
With regard to the charity’s restricted funds, in the opinion of the Trustees sufficient resources are held in an appropriate form by the charity to enable the funds to be applied in accordance with any restrictions.
The Trustees maintain an ongoing review of any matters likely to give rise to major risks for the charity in order to identify and make provision for any such risks.
Statement of Financial Activities
The Statement of Financial Activities on page 11 shows the total income for the group from all sources for the year was £1,067,355 (2023: £881,987) of which £1,044,543 (2023: £863,600) related to unrestricted funds and £22,812 (2023: £18,387) related to restricted funds.
Expenditure by the charity during the year amounted to £1,051,534 (2023: £871,625) of which £1,020,049 (2023: £854,909) related to unrestricted funds and £31,485 (2023:£16,716) related to restricted funds. Overall a surplus of £15,821 (2023:£10,362) was made in the year.
Balance Sheet
At the year end the group’s net assets were £185,200 (2023: £169,379) of which £97,893 (2023:£113,721) was held in restricted funds. Details of the funds and the movements therein are shown in notes 22 and 23 to the accounts. The restricted fund mainly represents fixed assets relating to the investment in the Wellbeing Centre.
Reserves policy
The charity does not aim to hold free income reserves on a long-term basis. The Trustees aim to hold only sufficient free reserves to meet general commitments in the foreseeable future in addition to any reserves held relating to restricted funds for specific projects. The Trustees have agreed a target level of £200,000 which would cover wages, rent and services for a three month period. At the end of the year free reserves were in surplus by £87,307 (2023: £55,658).
Investment Policy
The charity holds funds for its general charitable purposes as well as for specific projects and does not hold free income reserves on a long-term basis. Accordingly funds not required for immediate use are held on an interest-bearing bank deposit account to allow prompt access to the charity’s own funds and those held as intermediary agent for other bodies.
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Compass Disability Services
Trustees Report (incorporating the Director's Report)
Statement of responsibilities (within Trustees Report)
The trustees (who are also the directors of Compass Disability Services for the purposes of company law) are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Mark Oldershaw Trustee
Page 7
Compass Disability Services
Independent Auditor's Report to the Members of Compass Disability Services
Opinion
We have audited the financial statements of Compass Disability Services (the 'charitable parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024, which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, , Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the group's and parent charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other matters
The charity was not required to have a statutory audit for the year ended 31 March 2023 as it was entitle to the audit exemption under s144 of the Charities Act 2011. Accordingly the corresponding figures for the year ended 31 March 2023 are derived from figures that are unaudited.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 8
Compass Disability Services
Independent Auditor's Report to the Members of Compass Disability Services
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
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the information given in the and for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the and have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the and the .
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent charitable company financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the (set out on page ), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Page 9
Compass Disability Services
Independent Auditor's Report to the Members of Compass Disability Services
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the trustees and other management and from inspection of the charity's regulatory correspondence. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit.
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The charity is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other charity legislation. The charity is also subject to many other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery and certain aspects of charity legislation.
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Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
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As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group’s internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent charitable company to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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Compass Disability Services
Independent Auditor's Report to the Members of Compass Disability Services
Use of our report
This report is made solely to the charitable parent company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable parent company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
...................................... Catherine Williams FCA DChA (Senior Statutory Auditor) For and on behalf of Westcotts (SW) LLP Barnstaple Devon EX31 1SQ
Date:.............................
Page 11
Compass Disability Services
Consolidated Statement of Financial Activities for the Year Ended 31 March 2024 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investment income 6 Other income 7 Total income Expenditure on: Raising funds 8 Charitable activities 9 Total expenditure Net income/(expenditure) Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 22 |
Unrestricted funds £ 5,555 520,428 510,126 23 8,411 1,044,543 (531,428) (488,621) (1,020,049) 24,494 7,155 31,649 55,658 87,307 |
Restricted funds £ - 22,812 - - - 22,812 (10,828) (20,657) (31,485) (8,673) (7,155) (15,828) 113,721 97,893 |
Total 2024 £ 5,555 543,240 510,126 23 8,411 1,067,355 (542,256) (509,278) (1,051,534) 15,821 - 15,821 169,379 185,200 |
Total 2023 £ 11,449 407,963 459,277 9 3,289 |
|---|---|---|---|---|
| 881,987 | ||||
| (474,355) (397,270) |
||||
| (871,625) | ||||
| 10,362 - |
||||
| 10,362 159,017 |
||||
| 169,379 |
All of the group's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 22.
The notes on pages 16 to 36 form an integral part of these financial statements. Page 12
Compass Disability Services
(Registration number: 04245798) Consolidated Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 15 Current assets Stocks 17 Debtors 18 Cash at bank and in hand 19 Creditors: Amounts falling due within one year 20 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 21 Net assets Funds of the group: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 22 |
2024 £ 175,136 1,018 113,284 29,481 143,783 (124,493) 19,290 194,426 (9,226) 185,200 97,893 87,307 185,200 |
2023 £ 161,720 669 110,717 27,050 |
|---|---|---|
| 138,436 (110,217) |
||
| 28,219 | ||
| 189,939 (20,560) |
||
| 169,379 | ||
| 113,721 55,658 |
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| 169,379 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 12 to 36 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
.........................................
Mr Mark Oldershaw Trustee
The notes on pages 16 to 36 form an integral part of these financial statements. Page 13
Compass Disability Services
(Registration number: 04245798) Balance Sheet as at 31 March 2024
| Note Fixed assets Tangible assets 15 Investments 16 Current assets Debtors 18 Cash at bank and in hand 19 Creditors: Amounts falling due within one year 20 Net current assets Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 22 |
2024 £ 99,639 1 99,640 122,005 25,624 147,629 (24,024) 123,605 223,245 97,893 125,352 223,245 |
2023 £ 105,944 1 |
|---|---|---|
| 105,945 | ||
| 119,107 18,923 |
||
| 138,030 (35,053) |
||
| 102,977 | ||
| 208,922 | ||
| 113,721 95,201 |
||
| 208,922 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 12 to 36 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Mr Mark Oldershaw Trustee
The notes on pages 16 to 36 form an integral part of these financial statements. Page 14
Compass Disability Services
Consolidated Statement of Cash Flows for the Year Ended 31 March 2024
| Note Cash flows from operating activities Net cash income Adjustments to cash flows from non-cash items Depreciation 8 Investment income 6 Working capital adjustments (Increase)/decrease in stocks 17 (Increase)/decrease in debtors 18 Increase in creditors 20 (Decrease)/increase in deferred income 21 Net cash flows from operating activities Cash flows from investing activities Investment income 6 Purchase of tangible fixed assets 15 Net cash flows from investing activities Cash flows from financing activities Repayment of loans and borrowings 20 Net increase in cash and cash equivalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March |
2024 £ 15,821 29,293 (23) 45,091 (349) (2,567) 29,669 (15,393) 56,451 23 (42,709) (42,686) (11,334) 2,431 27,050 29,481 |
2023 £ 10,362 23,027 (9) |
|---|---|---|
| 33,380 526 9,206 200 9,755 |
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| 53,067 | ||
| 9 (25,534) |
||
| (25,525) (11,653) |
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| 15,889 11,161 |
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| 27,050 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 16 to 36 form an integral part of these financial statements. Page 15
Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.
The address of its registered office is: Unit 11-12 Belvedere Trading Estate Taunton Somerset TA1 1BH
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Compass Disability Services meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements have been prepared in sterling which is the functional currency of the charity.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 31 March 2024.
No statement of financial activities is presented for the charity as permitted by section 408 of the Companies Act 2006. The charity made a surplus after tax for the financial year of £14,323 (2023 - profit of £11,924).
Page 16
Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the statement of financial activities from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the charity and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination. Total comprehensive income is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance.
Going concern
The trustees consider that there are no material uncertainties about the group's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the group.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
Asset class Depreciation method and rate Straight line over the period of the Leasehold improvements lease Office equipment and furniture 25% per annum reducing balance Land and buildings Straight line 10 & 15 years
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the group.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the group becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the group intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the group transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the group, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.
Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.
Derivative financial instruments
The group uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The group does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
3 Income from donations and legacies
| Donations and legacies; Donations from individuals Donations and legacies; Donations from individuals |
Unrestricted funds General £ 5,555 5,555 Unrestricted funds General £ 11,449 11,449 |
Total 2024 £ 5,555 |
|---|---|---|
| 5,555 | ||
| Total 2023 £ 11,449 |
||
| 11,449 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Income from charitable activities
| Provision of support services Provision of Support Services Information and Advice Shopmobility |
Unrestricted funds General £ 520,428 Unrestricted funds General £ 369,982 12,004 7,590 389,576 |
Restricted funds £ 22,812 Restricted funds £ 18,387 - - 18,387 |
Total 2024 £ 543,240 |
|---|---|---|---|
| Total 2023 £ 388,369 12,004 7,590 |
|||
| 407,963 |
5 Income from other trading activities
| Trading income; Sales of goods and services Trading income; Sales of goods and services |
Unrestricted funds General £ 510,126 510,126 Unrestricted funds General £ 459,277 459,277 |
Total 2024 £ 510,126 |
|---|---|---|
| 510,126 | ||
| Total 2023 £ 459,277 |
||
| 459,277 |
6 Investment income
| Investment income | Unrestricted funds General £ 23 23 |
Total 2024 £ 23 |
|---|---|---|
| 23 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
| Investment income 7 Other income Other income Other income 8 Expenditure on raising funds |
Unrestricted funds General £ 9 9 Unrestricted funds General £ 8,411 Unrestricted funds General £ 3,289 |
Total 2023 £ 9 |
|---|---|---|
| 9 | ||
| Total 2024 £ 8,411 |
||
| Total 2023 £ 3,289 |
||
a) Costs of trading activities
| Staff costs Support costs Other direct costs Staff costs Support costs Other direct costs |
Unrestricted funds General £ 284,396 239,553 3,142 527,091 Unrestricted funds General £ 278,805 172,706 9,187 460,698 |
Total 2024 £ 284,396 239,553 3,142 |
|---|---|---|
| 527,091 | ||
| Total 2023 £ 278,805 172,706 9,187 |
||
| 460,698 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
b) Other costs of generating donations and legacies
| Note Allocated support costs Note Allocated support costs 10 9 Expenditure on charitable activities Consultation and Representation Provision of Support Services Consultation and Representation Provision of Support Services Consultation and Representation Provision of Support Services |
Unrestricted funds General £ 4,337 Unrestricted funds General £ 2,828 Unrestricted funds General £ 108,945 284,432 393,377 Activity undertaken directly £ - 348,309 348,309 |
Restricted funds £ 10,828 Restricted funds £ 10,829 Unrestricted funds General £ 127,928 381,350 509,278 Restricted funds £ 3,893 - 3,893 Activity support costs £ 127,928 33,041 160,969 |
Total 2024 £ 15,165 |
|---|---|---|---|
| Total 2023 £ 13,657 |
|||
| Total 2024 £ 127,928 381,350 |
|||
| 509,278 | |||
| Total 2023 £ 112,838 284,432 |
|||
| 397,270 | |||
| 2024 £ 127,928 381,350 |
|||
| 509,278 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
| Consultation and Representation Provision of Support Services |
Activity undertaken directly £ - 253,868 253,868 |
Activity support costs £ 112,838 30,564 143,402 |
2023 £ 112,838 284,432 |
|---|---|---|---|
| 397,270 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Analysis of support costs
Support costs allocated to raising funds
| Administration costs £ Premises costs including depreciation £ Costs of trading activities 70,409 126,613 Other costs for generating funds - 15,165 Total for 2024 70,409 141,778 Total for 2023 41,061 119,808 |
Other support costs £ 42,531 - 42,531 25,494 |
Total funds £ 239,553 15,165 |
|---|---|---|
| 254,718 | ||
| 186,363 |
Support costs allocated to charitable activities
| Premises | |||||||
|---|---|---|---|---|---|---|---|
| costs | Other | ||||||
| Administration | Finance | Staff | including | support | Total | ||
| Basis of | costs | costs | costs | depreciation | costs | funds | |
| allocation | £ | £ | £ | £ | £ | £ | |
| Consultation and | |||||||
| Representation | A,C | 1,190 | 81 | 130,862 | 335 | 3,116 | 135,584 |
| Provision of Support | |||||||
| Services | A,C | 4,234 | 125 | 6,752 | 1,412 | 12,862 | 25,385 |
| Total for 2024 | 5,424 | 206 | 137,614 | 1,747 | 15,978 | 160,969 | |
| Total for 2023 | 9,183 | 210 | 118,109 | 709 | 15,191 | 143,402 |
Basis of allocation
Reference Method of allocation
Support costs are allocated to charitable projects and to governance activities A based on the hours worked on the relevant activity.
Expenditure on raising funds represents the costs incurred by the charity in B operating meeting room facilities with reference to floor areas as appropriate Expenditure on charitable activities comprises costs incurred by the charity in the delivery of activities and services for its beneficiares. It includes both costs that C can be allocated directly to such activities and costs of an indirect nature necessary to support them.
11 Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets
| 2024 | 2023 |
|---|---|
| £ | £ |
| 29,293 | 23,027 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Expenses in the year totalling £135 (2023: £150) covering travel and administration costs were reimbursed to 2 (2023: 2) trustee.
No trustees, nor any persons connected with them, have received any remuneration from the group during the year.
No trustees have received any other benefits from the charity during the year.
13 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2024 £ 702,187 42,678 16,158 761,023 |
2023 £ 569,226 57,922 21,876 |
|---|---|---|
| 649,024 |
The monthly average number of persons (including senior management / leadership team) employed by the group during the year expressed as full time equivalents was as follows:
| Compass everyday Other CDST |
2024 No 18 4 17 39 |
2023 No 10 4 12 |
|---|---|---|
| 26 |
No employee received emoluments of more than £60,000 during the year.
During the year the charity made the following transactions with key management personnel:
Chief executive
The Chief executive received remuneration of £27,955 (2023: £27,955)
14 Taxation
The group is a registered charity and is therefore exempt from taxation.
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
15 Tangible fixed assets
Group
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 Charity Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Land and buildings £ 63,751 19,744 83,495 17,161 8,306 25,467 58,028 46,590 |
Furniture and equipment £ Leasehold improvements £ 165,088 318,959 22,965 - 188,053 318,959 147,416 221,501 10,159 10,828 157,575 232,329 30,478 86,630 17,672 97,458 Furniture and equipment £ Leasehold improvements £ 165,088 318,959 22,965 - 188,053 318,959 147,416 221,501 10,159 10,828 157,575 232,329 30,478 86,630 17,672 97,458 |
Total £ 547,798 42,709 |
|---|---|---|---|
| 590,507 | |||
| 386,078 29,293 |
|||
| 415,371 | |||
| 175,136 | |||
| 161,720 | |||
| Total £ 484,047 22,965 |
|||
| 507,012 | |||
| 368,917 20,987 |
|||
| 389,904 | |||
| 117,108 | |||
| 115,130 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
16 Fixed asset investments
Charity
Shares in group undertakings and participating interests
| Cost At 1 April 2023 At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Subsidiary undertakings £ 1 1 1 1 |
Total £ 1 |
|---|---|---|
| 1 | ||
| 1 | ||
| 1 |
Details of undertakings
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
| Country of | Proportion of voting | Proportion of voting | Principal | ||
|---|---|---|---|---|---|
| Undertaking | incorporation | Holding | rights and shares held | activity | |
| 2024 | 2023 | ||||
| Subsidiary undertakings | |||||
| Trading arm | |||||
| CDST Limited | UK | Ordinary | 100% | 100% | of Compass Disability |
| Services |
Subsidiaries
The profit for the financial period of CDST Limited was £1,498 (2023 - £(1,562)) and the aggregate amount of capital and reserves at the end of the period was £(38,045) (2023 - £(39,542)).
The registered address of CDST Limited (registered number 10408318) Unit 11-12 Belvedere Trading Estate, Taunton, Somerset, United Kingdom, TA1 1BH.
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
17 Stock
| Stocks 18 Debtors Trade debtors Due from group undertakings Prepayments Accrued income 19 Cash and cash equivalents Cash at bank |
Group 2024 £ 2023 £ 92,523 88,295 - - 20,761 20,306 - 2,116 113,284 110,717 Group 2024 £ 2023 £ 29,481 27,050 |
Group 2024 £ 2023 £ 1,018 669 Charity 2024 £ 2023 £ 15,614 24,829 105,909 91,437 482 725 - 2,116 122,005 119,107 Charity 2024 £ 2023 £ 25,624 18,923 |
|---|---|---|
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
20 Creditors: amounts falling due within one year
| Group 2024 £ 2023 £ Bank loans 10,000 10,000 Trade creditors 51,091 15,510 Other taxation and social security 23,491 32,116 Other creditors 4,781 3,360 Accruals 11,533 10,241 Deferred income 23,597 38,990 124,493 110,217 Deferred income Group Deferred income at 1 April 2023 Resources deferred in the period Amounts released from previous periods Deferred income at year end Charity Deferred income at 1 April 2023 Resources deferred in the period Deferred income at year end 21 Creditors: amounts falling due after one year Bank loans |
Charity 2024 £ 2023 £ - - 10,281 2,395 8,030 11,292 2,113 - 3,600 5,580 - 15,786 24,024 35,053 2024 £ 2023 £ (38,990) (29,235) 23,597 38,990 38,990 29,235 23,597 38,990 2023 £ (15,786) 15,786 - Group 2024 £ 2023 £ 9,226 20,560 |
|---|---|
Page 31
Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
22 Funds
Group
| Unrestricted funds General General Funds Restricted funds Wellbeing Centre Compass Everyday Norman Charitable Trust Medlock Charitable Trust Fairfield Charitable Trust Sport England Kathleen Beryl Sleigh Charitable Trust The Percy Bilton Charity The Michael Cornish Charitable Trust The AbbVie Foundation Total funds |
Balance at 1 April 2023 £ 55,658 101,221 - 2,500 5,000 5,000 - - - - - 113,721 169,379 |
Incoming resources £ 1,044,543 1,261 3,806 - - - 5,590 5,000 4,655 1,000 1,500 22,812 1,067,355 |
Resources expended £ (1,020,049) (12,089) (3,806) - - (5,000) (5,590) (5,000) - - - (31,485) (1,051,534) |
Transfers £ 7,155 - - - - - - - (4,655) (1,000) (1,500) (7,155) - |
Balance at 31 March 2024 £ 87,307 90,393 - 2,500 5,000 - - - - - - |
|---|---|---|---|---|---|
| 97,893 | |||||
| 185,200 |
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Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
| Unrestricted funds General General Funds Restricted funds Wellbeing Centre Compass Everyday Norman Charitable Trust Medlock Charitable Trust Fairfield Charitable Trust Total funds Charity Unrestricted funds General General Funds Restricted funds Wellbeing Centre Compass Everyday Norman Charitable Trust Medlock Charitable Trust Fairfield Charitable Trust Sport England Kathleen Beryl Sleigh Charitable Trust The Percy Bilton Charity The Michael Cornish Charitable Trust The AbbVie Foundation Total funds |
Balance at 1 April 2022 £ Balance at 1 April 2022 £ Resources expended £ 46,967 863,600 (854,909) 112,050 1,994 (12,823) - 3,893 (3,893) - 2,500 - - 5,000 - - 5,000 - 112,050 18,387 (16,716) 159,017 881,987 (871,625) Balance at 1 April 2023 £ Incoming resources £ Resources expended £ Transfers £ 95,201 551,035 (528,039) 7,155 101,221 1,261 (12,089) - - 3,806 (3,806) - 2,500 - - - 5,000 - - - 5,000 - (5,000) - - 5,590 (5,590) - - 5,000 (5,000) - - 4,655 - (4,655) - 1,000 - (1,000) - 1,500 - (1,500) 113,721 22,812 (31,485) (7,155) 208,922 573,847 (559,524) - |
Balance at 31 March 2023 £ 55,658 101,221 - 2,500 5,000 5,000 |
|
|---|---|---|---|
| 113,721 | |||
| 169,379 | |||
| Balance at 31 March 2024 £ 125,352 90,393 - 2,500 5,000 - - - - - - |
|||
| 97,893 | |||
| 223,245 |
Page 33
Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
| Unrestricted funds General General Funds Restricted funds Wellbeing Centre Compass Everyday Norman Charitable Trust Medlock Charitable Trust Fairfield Charitable Trust Total funds |
Balance at 1 April 2022 £ 84,948 112,050 - - - - 112,050 196,998 |
Incoming resources £ 415,048 1,994 3,893 2,500 5,000 5,000 18,387 433,435 |
Resources expended £ (404,795) (12,823) (3,893) - - - (16,716) (421,511) |
Balance at 31 March 2023 £ 95,201 101,221 - 2,500 5,000 5,000 |
|---|---|---|---|---|
| 113,721 | ||||
| 208,922 |
The specific purposes for which the funds are to be applied are as follows:
The Wellbeing Centre fund relates to funding provided from various sources towards the cost of construction and operation of the Wellbeing Centre. Funding has been received in the year in the form of grants from the Co-op.
Norman Charitable Trust grant was received towards the Everyday garden.
Medlock Charitable Trust grant was received towards a meeting space for the Dementia Cafe & Bar.
Fairfield Charitable Trust grant was received towards the ourdoor garden project.
Sport England and Kathleen Beryl Sleigh Charitable Trust grants were recieved towards Compass Everyday.
Grants received from The Percy Bilton Charity, The Michael Cornish Charitable Trust and The AbbVie Foundation were received towards a sensory projector purchased in the year.
Page 34
Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
23 Analysis of net assets between funds
| Group Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total net assets Charity Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Total net assets |
Unrestricted funds General £ 88,507 132,519 (124,493) (9,226) 87,307 Unrestricted funds General £ 64,262 122,173 (110,217) (20,560) 55,658 Unrestricted funds General £ 13,010 1 136,365 (24,024) 125,352 Unrestricted funds General £ 8,486 1 121,767 (35,053) 95,201 |
Restricted funds £ 86,629 11,264 - - 97,893 Restricted funds £ 97,458 16,263 - - 113,721 Restricted funds £ 86,629 - 11,264 - 97,893 Restricted funds £ 97,458 - 16,263 - 113,721 |
Total funds at 31 March 2024 £ 175,136 143,783 (124,493) (9,226) |
|---|---|---|---|
| 185,200 | |||
| Total funds at 31 March 2023 £ 161,720 138,436 (110,217) (20,560) |
|||
| 169,379 | |||
| Total funds at 31 March 2024 £ 99,639 1 147,629 (24,024) |
|||
| 223,245 | |||
| Total funds at 31 March 2023 £ 105,944 1 138,030 (35,053) |
|||
| 208,922 |
Page 35
Compass Disability Services
Notes to the Financial Statements for the Year Ended 31 March 2024
24 Analysis of net funds
Group
| Group | |||
|---|---|---|---|
| Cash at bank and in hand Debt due within one year Debt due after more than one year Net debt |
At 1 April 2023 £ 27,050 (10,000) (20,560) (3,510) |
Cash flows £ 2,431 - 11,334 13,765 |
At 31 March 2024 £ 29,481 (10,000) (9,226) |
| 10,255 |
25 Related party transactions
Group
There were no related party transactions in the year.
Charity
There were no related party transactions in the year.
Page 36