Social Life IIIM•i Opportunltoes Embracing disability, empowering lives. ANNUAL REPORT 2020-21 SOLO'S Journey through a Pandemlc Social Lrfe Opportunilies (SOLO) 38 Walnut Close Chelmsley Wood Birmingham B37 7PU 0121779 3865 info@sololifeo ortunities.or WWW. sociallifeopportvnities.org Charity No 1102997CompanyLimited byGuarantee Number05025939 Annuol Report 202012021 Contents SOLO'S Charltable Ob Our Vlslon Chair erson's Re ecllves Chief Executive officer's Re Our Values Covld 19 SOLO Pandemlc Strate 9110 Adult Servlces Chlldren's Servlces orted Llvln Servlce Pundln and Fundralsln Trustee Board Flnanclal Revlew 16117 statement of Trustee5' Res onsibilities Inde endent Auditors Re 19-21 Statement of Financial Activitie5 for Balance Sheet as at 31.03.21 ear ended 31.03.21 22 23 statement of Cash Flow as at 31.03.21 24 Notes to the Financial Statements 25-34 35 Com an Information Annuol Report 202012021 Social Llfe Opportunltles Our Objectives & Vision SOLO'I Charflable Objecllves "To help empower children. young Peop￿ and adulls with learning disobililEs to (￿hleve IF￿r full potenlial. lo encouaoe their integration in society and Improve Ihetr conditions of Ilfe in parttulcT by the Sernlce. or asstslance in the Serdce, of facilille5 for them, ther families and carer5" Within SOLO we See people wth le￿rnIng dlsabllities spendirvJ lime in an envronmenl Ihat s comf¢Jtable. safe and Secure enabling Ihem to be strelched. challenged and tc*e risks. We are happy with that we see, bul we want more. In the fulure. we wanl to ensue that our members ￿e nol excluded from soclety in institulional selling5 bul are w0￿ded wth an en￿ronment that equips them for the futue. We wont lo grve them the skills and experience they need lo be able lo make choices and take control of their Ilwes. We ￿nI lo see the I￿e$ of ou chilcten ￿th a le(Jning dlsabllSty enhanced a5 they become odult5. For adu115 wilh a ￿arnIng dtsability, w6 want to prowide them the chance to experience all Ihol life hos to offer. have fun ond be hoppy. 141.1 Our Vision Enable our members lo re0r￿e ttieir full potential wth Ihe svpport ond encouragement of a skilled and dedicaled leam, Ihrough the developmenl of high quality OPDOrtunilies. Annuol Report 202012021 Soclal Llfe Iiim• Opportunltles Chair's Report It's easy to be wse ofter on event and orE of the frst thin￿ the SOLO Bocfd did in 2020/21 financial yetJwas add the rsk of Pandemic lo ou Reserves POI￿y. (ljrkey VIC￿tywaS to keep SOLO cO￿d safe but also conllnue delroery of Se￿e$ there Possib￿ and keep a conslanl eye on the C¢Jh fl¢M. A serEs of difficult decisDns were necess(yy. including reducllon of Staff ond use of furk)ugh to align income and expendit￿e to ersLre financlal slability. fo focililate social distancing f¢y cxtmties we were not risk aveyse and invested in an additional base fcf servke delrrty to ttcommodate social d￿tanCIng, and developed SOLO'S suppcrled Imng hwse In Sollhull. To reflect the soclal cspect of SOLO thls was Inccxpcxated into o nome change and refresh of SOLO'S brandinfvbsite. Evenls lo ce￿brate 20 ye¢YS of SOLO had lo be paused and COVID negatrve Impact for SOLO was much rethced Kjndrosing oppthunities. WithC￿t the intense support of a reduced slafl team. the trust of members and Iher parentlcorers to access $￿CeS the ￿ltcOMe of a difficull year could have been very different bul it is o lrfbute lo Ihe commilment of the Board of Trustees ond SOLO 51aff Ihal we re￿hed ye¢J end in a much more robust siluatlon thon antlcipated e¢Jller In Ihe yeor. Our key FI1￿1ty Is now lo re￿ew. refresh and revilaliTr ond Grasp positrve OPF)Ortunilies that the Pandemic has LS lo offer ￿tal Se￿CeS fcf our 8Xlsllng and fulure members wilh Leaming Disabilities. CEO Report InlerfmlAcllng up slnce November2020 - COVID As Head of Finance and 8Lsiness Suppcyl fcy over seven ye¢JS. I hiwe seen at rrsl hond the en￿mouS growth and change in the swace. wilh Ihe challer¥Jes that thls h￿ brought. With reduced fTnonces. keeping SOLO os o rolxjsl ond fleXIb￿ ￿gon1$Ot￿n, oble to meel the needs of people ￿th a lecming dsability in on ever-changing silualion. tFHe is w doubt that difficult decisions havehad to be made along the way. l am pleased lo hCr￿ Ihe suppcrl and confidence of Ihe BocTd as we have ne￿tIated the pandemic silualion togelherwlh OLT 51aff leam, responding lo need and adapting Services lo ensue o COVID-safe enkTonment fcf OLK members and stam. 11 has been a plea￿re lo see the sloff leams at thelr creatwe ￿st os they huve taken on the chollerges of adapting lo the new lerraln, ertsuriro ow membets iJe slill able lo ho￿ and en5oy the essenlial soclal interaction Ihalwe all need. I look fc￿rd to contlnuing to wcrt togetw so that SOLO emerges from these tlmes lo continue ils joumey. offering wtal serwces lo people wth leaming disabilitie Annuol Report 202012021 Soclal Llfe Opportunltles Our Values - STAR Safe Trusted Adaptable Reslllent SOLO'S STAR Quallty valve5: Scrfe. Trvsled. Adaptable. Re5111enl hove been severely tested thlsyear but not found wanting-even in these pandemlc-fflled time5. Reflecting on where we were at the end of lasl year's reportlng perfod: "swlft action was required as Ihe year ended to ensure sustainability as so many services hod to be paused whilsl we all went into lockdown. A large proportion of slatf hod to be fudoughed and a small leam was left managing Ihe services thal could be safely delivered" We paid lribute to all those who had worked so hard during those last few monlhs and those who had been on furlough and isolated from thelr dally roles. COVID-19 was Sndeed a wake-up call for us all - to stop Ibrfeflyl and to look at the what, why and how we do things, so thy als¢0 hel) •v•ry We¢Jn•w •V•filng oi Nlght Qwl & Thursday Cr•w Ev¢)Iv• Ov•mlghl 8r•oks eekry socirj cbJDS on Morbo Tfwrsaoy eVe￿r￿a$, wnere memoen meel Ihetr lrfends and •nJtsy Ihe itt¢mÈd OCllvJlleS. A person•n Polk fry hoc4 years 24 gl¥kng ￿ chU(*•n o c￿ce 10 energtsMc(* S¢thJrday Sup•r Frf•nds Mi¥•0 Ivn ocllwllles ¢ind oukn95 for Ihow kn scw ￿(￿5 44. A waI￿1Y ol i¢iitrea. sHm￿o￿A9 on¢ cweotlve O¢11￿￿3 Ic* CThlfJwn In school y•1 I to ioke p(wl In Ivn lem coochln9. Saiuidoy ollemooni A wee*ty OPPthiNty Ic* yeot% I fo 13 ¢)n o Soluf mc*thg wllh Sc41￿1 Mo provhJFng c¢Jochty ond lts)I A¢¢•ss All Ar•as For•5t 04k Aft•r School Club Hollday g¢llvlN Er￿blIng IM05e In yerys I to l J ettidren to eh￿V te 5kollryJ. len mlrrf4 ona mcye. A mLxed ac1￿1￿ yogrornme f sctto￿ ye015 24. E*xh rjoy pro￿￿e$ eA¢llho. Ivn OC11￿lIeS. ionglng from cookery arwJ ￿0111. lo wi seJYorY4 ond IrfP5 oul. ye¢ys 34 ol fofesl Ook Sthcd. A mLYea FVO￿arnrne ol kn¢JW increase our reserves in the
financial year which will
impact
on
the
future
development of the
organisation.|This remains a static risk as withdrawal of social care funding
whilst not in budget will have an overall negative on general
reserves position. Mitigating actions will include seeking new
funding sources to increase sustainability.| |Services may not bring in
income predicted.|Some services still adversely affected by COVID-19 – reduced
service or service still paused.| |Minimum wage increase will
impact on project costs and
recruitment for 2021/22|Budgets prepared with all viable options for staffing costs as
well as increasing subscription costs to counter this increase.| |Corona virus implications will
continue to disrupt services,
staff absences,fundraising
activities and opportunities
and affect income|Reduced staffing structure, COVID risk assessment and
protocols in place. Service gradually being returned in keeping
with COVID restrictions and guidelines.| These and other risks are reviewed on a quarterly basis at the Trustee Board and mitigating actions are considered to determine their proportionality and effectiveness. Risks are monitored regularly, and new risks are added when they arise, through the Senior Leadership Team process. The corporate risk register is the vehicle used to ensure risks are managed and trustees are assured. 17 Annual Report 2020/2021 ## **Statement of Trustees’ Responsibilities** The Trustees, as Directors of SoLO, are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company 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 the incoming resources and application of resources, including income and expenditure, of the company for that period. In preparing those financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP 2015 (FRS 102) - Make judgements and estimates that are reasonable and prudent - State whether applicable accounting standards 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 assume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: - There is no relevant information of which the Charity’s auditors are unaware and - The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved and signed on behalf of the Trustees by: Jan Prior (Chair) Date 21 July 2021 18 Annual Report 2020/2021 ## **Independent Auditors Report** ## **SOCIAL LIFE OPPORTUNITIES (SOLO)** ## **Opinion** We have audited the financial statements of Social Life Opportunities (SOLO) (the ‘charitable company’) for the year ended 31 March 2021 which comprise Statement of Financial Activities, Balance Sheet, Cash Flow Statement 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 applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## Basis of 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’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 of our opinion. ## **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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 Trustees’ 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. 19 Annual Report 2020/2021 ## **Independent Auditors Report** ## **SOCIAL LIFE OPPORTUNITIES (SOLO)** In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, 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. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Trustees’ report (incorporating the Annual Report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Trustees’ report has 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report. 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: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us: or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to prepare the financial statements in accordance with the small companies’ exemptions in preparing the Trustees’ report. ## **Responsibilities of Trustees** As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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 charitable company’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 intent to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 20 Annual Report 2020/2021 ## **Independent Auditors Report** ## **SOCIAL LIFE OPPORTUNITIES (SOLO)** ## **Auditor’s 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - Obtaining and understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that have a direct effect on the financial statements; - Enquiring of management and Trustees around known or suspected instances of non-compliance of laws and regulations and fraud; - Discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indications of fraud; - Reviewing minutes of meetings of those charged with governance; - Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and - Performing audit work in relation to the risk of management override, including testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. This report is made solely to the charitable company’s members, 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 charitable company’s members 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 company and the charitable company’s members as a body, for our audit work, for this report, or for the opinion we have formed. **Helen Blundell LLB, FCA, FCIE, DChA (Senior Statutory Auditor)** **For and on behalf of MHA MacIntyre Hudson (Statutory Auditor)** Birmingham, United Kingdom > Date: 18 August 2021 21 Annual Report 2020/2021 ## **Statement of Financial Activities for year ended 31 March 2021** ||**Note**|**Unrestricted**
**Funds**|**Restricted**
**Funds**|
**Total**
**Funds**|Total
Funds| |---|---|---|---|---|---| |||**2021**|**2021**|**2021**|2020| |||**£**|**£**|**£**|£| |**Income from:**|||||| |Donations|2|**31,768**||**31,768**|
60,993| |Charitable Activities|3|**1,580,942**|
**563,675**|
**2,144,617**|
2,237,553| |Other Trading Activities|4|**13,400**|
**-**|
**13,400**|
50,825| |Investment||**1,202**|
**-**|
**1,202**|
1,220| |**Total Income**||**1,627,312**|
**563,675**|**2,190,987**|2,350,591| |**Expenditure on:**|||||| |Raising Funds|5|**5,689**|
**-**|
**5,689**|
6,693| |Charitable Activities|6|**1,595,877**|
**580,931**|
**2,176,808**|
2,409,512| |**Total Expenditure**||**1,601,566**|
**580,931**|
**2,182,497**|
2,416,205| ||||||| |**Net Income / (expenditure) and net**|||||| |**movement of funds**||**25,746**|**(17,256)**|
**8,490**|(65,614)| |**Reconciliation of Funds:**|||||| |Total funds Brought Forward - at 1st April 2020||**513,360**|
**66,033**|
**579,393**|
645,007| |**Total FundsCarried Forward - at31st March**|**2021**|**539,106**|**48,777**|**587,883**|579,393| |All Income and expenditure derives from continuing activities|||||| 22 Annual Report 2020/2021 ## **Balance Sheet as at 31 March 2021** |||**Registered Number 5025939**|**Registered Number 5025939**|**Registered Number 5025939**|**Registered Number 5025939**| |---|---|---|---|---|---| ||||||| |**Note**||**2021**||2020|| |||**£**|**£**|£|£| ||||||| |**Fixed Assets**|||||| |Tangible assets
11|||**294,618**||322,965| ||||||| |**Current assets**|||||| |Debtors
12||**173,974**||240,506|| |Cash at bank and on hand
13||**379,535**||237,358|| |Total Current Assets||**553,509**||477,864|| ||||||| |**Creditors: amounts falling**
**due within one year**|||||| |14||**(260,244)**||(221,436)|| ||||||| |**Net current assets**|||**293,265**||256,428| ||||||| |**Net assets**|||**587,883**||579,393| ||||||| |**Funds**
16|||||| |Restricted funds|||**48,777**||66,033| |Unrestricted funds - Designated funds|||**9,742**||28,527| |Unrestricted funds - General funds|||**529,364**||484,833| ||||||| |**Total funds**|||**587,883**||579,393| The 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 were approved by the Trustees and signed on their behalf by: Jan Prior, 21 July 2021 Chair Jon Prior, 21 July 2021 Treasurer 23 Annual Report 2020/2021 ## **Statement of Cash Flow as at 31 March 2021** |**Statement of Cash Flows**|**2021**
2020| |---|---| ||**£**
£| |**Cash flow from operating activities**|**140,975**
8,167| ||| |**Net cash flow from operating activities**|**140,975**
8,167| ||| |**Cash flow from investing activities**|| |Payments to acquire tangible fixed assets|(49,419)| |Interest Received|
**1,202**
1,220| ||| |**Net Cash flow from investing activities**|**1,202 **
(48,199)| ||| |**Cash flow from financing activities**|| |Repayment of concessionary loans|**-**
(16,250)| ||| |**Net Cash flow from financing activities**|**-**
(16,250)| ||| |**Net (decrease) / increase in cash and cash equivalents**|**142,177**
(56,282)| ||| |**Cash and cash equivalents at 1st April 2020**|**237,358**
293,640| ||| |**Cash and cash equivalents at 31st March 2021**|**379,535**
237,358| ||| |**Cash and cash equivalents consists of:**|| ||| |Cash at bank and in hand|**150,138**
171,560| |Short term deposits|**229,397**
65,798| ||| |**Cash and cash equivalents at 31st March 2021**|**379,535**
237,358| 24 Annual Report 2020/2021 ## **Notes to the Financial Statements** ## **1. Summary of Significant Accounting Policies** ## **1.1 Basis of preparation of financial statements and general information** SoLO Life Opportunities is a charitable company limited by guarantee incorporated and is also a registered charity in England and Wales. The registered office is 38 Walnut Close, Chelmsley Wood, Birmingham, B37 7PU. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office and details of the charity’s operations are included in the trustees’ report. The charity constitutes a public benefit as defined by FRS102. The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard application in the UK and Republic of Ireland (FRS 102) the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice. The functional currency of the charity is sterling and the figures have been rounded to the nearest pound sign. ## **1.2 Fund accounting** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the charitable objectives of the charity. Designated funds are unrestricted funds which the Trustees have designated for a particular project or purpose. The policy for determining each designated fund is set out in the notes to the financial statements. Restricted funds are funds subject to specific restrictions imposed by donors or funds which have been raised by the charity for specific purposes. The purpose and use of each restricted fund is set out in the notes to the financial statements. ## **1.3 Incoming resources** All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and that amount can be measured reliably and it is probable that the income will be received. The following policies are applied to specific categories of income. (a) Voluntary income received by way of donations is included in the Statement of Financial Activities when receivable (b) Interest is included when receivable (c) Incoming resources from grants and contracts which are related to performance and specific deliverables are included in the Statement of Financial Activities as the charity earns the right to the income by its performance. Grant income received during the year that relates to a subsequent financial period is carried forward as a creditor in the balance sheet and shown as deferred grant income (d) Donated services or equipment are included in the Statement of Financial Activities at their fair value where the economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is the price the charity estimates it would pay in the open market for such services or equipment. The equivalent amount is recognised as expenditure in the Statement of Financial Activities or is capitalised as a fixed asset (e) The value of services provided by volunteers, including trustees, has not been included in line with the SORP (FRS102) 25 Annual Report 2020/2021 ## **1.4 Resources expended** Expenditure is recognised on an accrual’s basis. Resources expended include attributable VAT which cannot be recovered. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Charitable expenditure comprises these costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs which can be allocated directly to such activities and those costs of an indirect nature required to support them. Support costs include office costs, governance costs and administrative payroll costs. Supports costs have been allocated to activities in the ratio of direct salaries. ## **1.5 Pension Contributions** The charity operates a defined contribution pension’s scheme. The assets of the scheme are held separately from those of the charity in an independent administered fund. Contributions are expensed as they become payable. ## **1.6 Fixed assets and depreciation** Asset additions costing less than £1,000 are not capitalised. Tangible fixed assets are held at cost less accumulated depreciation and impairment losses. Depreciation is provided at rates calculated: IT equipment over the period of 3 years Freehold Purchase over the period of 50 years Leasehold improvements over the period of the lease Fixtures and fittings over periods between 3 and 5 years Motor vehicles over 7 years ## **1.7 Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **1.8 Concessionary loans** Concessionary loans include receivables / payable to a third party which are interest free or below the market interest rates and are made to advance charitable purposes. The loan is measured at a cost less impairment. ## **1.9 Operating leases** Payments under operating leases are charged to the statement of financial activities on a straight-line basis over the period of the lease. 26 Annual Report 2020/2021 ## **1.10 Going Concern** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. This consideration has taken into accounts the continued expected impact of Covid-19 on the Charity, as far as it can be determined, and the Trustees remain satisfied that the going concern principle remains appropriate. ## **1.11 Judgement and key sources of estimation uncertainty** The following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements. Donations in kind – a judgement has been made as to the fair value of donations in kind, based on an understanding of the local market for these items/s. Depreciation rates – a judgement has been made as to the estimated useful life of assets and, therefore, the rate of depreciation. The estimate is made based on best practice and knowledge of the usage of such assets in the charity. There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the new financial year. ## **1.12 Financial Instruments** The Charity holds only basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows: Debtors – trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 12. Prepaid expenses are not financial instruments. Liabilities – concessionary loans, trade creditors, accruals and other creditors will be classified as financial instruments and are measured at amortised cost as detailed in Note 14. Taxation and social security are not included in the financial instruments’ disclosure. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable s rather than cash or another financial instrument. ## **1.13 Government Grants Accounts policy** Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of meeting any performance related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued. 27 Annual Report 2020/2021 ## _**2 Donations and Legacies**_ **----- Start of picture text -----**
|||| |---|---|---| |2021|2020| |£|£| |-|-| |Grants and Donations for Extension/Refurbishments of Properties| |Other Donations and Legacies|31,768|60,993| |31,768|60,993| **----- End of picture text -----**
The charity also benefited from a donation in kind by way of temporary waiver of our rental obligations for our supported living throughout the year equating to £37,660.80 **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |3|Income from charitable activities| |Funds|Funds|Funds|Funds| |2021|2021|2021|2020| |Grants and service level agreements|£|£|£|£| |Solihull MBC Children's Services|280,912|-|280,912|259,316| |-|-| |Solihull MBC Covid Support|35,589|35,589| |-| |Solihull Clinical Commissioning Group|15,000|15,000|62,000| |Children In Need|-|22,815|22,815|33,386| |-|-|-| |1:1 Support|7,953| |Eveson Trust|8,762|8,762|7,000| |-| |YIF/YAS Funding|177,522|177,522|205,250| |JRS Grant|-|358,338|358,338|-| |Screwfix|5,000|5,000| |Total grants and service level agreements|340,263|563,675|903,938|574,905| |Service User Income|1,240,679|-|1,240,679|1,662,648| |Total Income from Charitable Activities|1,580,942|563,675|2,144,617|2,237,553| **----- End of picture text -----**
## _**4 Other Trading Activities**_ During the year The Charity received funds from Fundraising Events £NIL (2020: £12,972) as well as funds generated from Letting of Premises £13,400 (2020: £37,853) ## _**5 Cost of raising funds - Unrestricted**_ **----- Start of picture text -----**
|||| |---|---|---| |Cost of raising funds - Unrestricted|2021|2020| |£|£| |Salary Costs|4,287|4,585| |Other Direct Costs|183|1,008| |Support Costs (note 7)|1,219|1,100| |5,689|6,693| **----- End of picture text -----**
28 Annual Report 2020/2021 |**_6_**
**_Cost of charitable activities_**
**Adult's**
**Services**
**Children's**
**Services**
**Independent**
**Living**
**Total**
Total|**_6_**
**_Cost of charitable activities_**
**Adult's**
**Services**
**Children's**
**Services**
**Independent**
**Living**
**Total**
Total|**_6_**
**_Cost of charitable activities_**
**Adult's**
**Services**
**Children's**
**Services**
**Independent**
**Living**
**Total**
Total| |---|---|---| |||**2021**
**2021**
**2021**
**2021**
2020| |||**£**
**£**
**£**
**£**
£| |Salaries||**101,187**
**128,721**
**75,899**
**305,807**
481,558| |Sessional Staff||**481,927**
**245,168**
**483,577**
**1,210,672**
1,132,452| |Premises||**21,650**
**12,210**
**10,355**
**44,215**
80,942| |Member Activities||**17,564**
**150,978**
**10,490**
**179,032**
285,937| |Transport of Members
**817**
**825**
**494**
**2,136**
13,528||| |Staff and Volunteer Training
**-**
**-**
**-**
**-**
16||| |Volunteer Expenses
**5**
**547**
**-**
**552**
2,123||| |Bad Debt||**-**
**-**
**-**
**-**
6,080| |Depreciation||**10,417**
**3,473**
**-**
**13,890**
12,688| |Support Costs(note 7)
**161,673**
**103,683**
**155,148**
**420,504**
394,188||| |||**795,240**
**645,605**
**735,963**
**2,176,808**
2,409,512| |||| Cost of restricted charitable activities £580,931 (2020: £303,419) and cost of unrestricted charitable activities £1,595,877 (2020: £2,106,093). |**_7_**
**_Support Costs_**|||**2021**
2020| |---|---|---|---| ||||**£**
£| |Salaries|||**196,024**
208,689| |Legal Fees|||**13,800**
2,817| |Premises Costs|||**46,559**
21,487| |Insurance|||**8,305**
5,932| |Staff Costs|||**27,127**
29,213| |Communication Costs|||**16,725**
10,083| |Computer Costs|||**21,880**
25,236| |Publicity Costs|||**10,695**
6,553| |Depreciation|||**14,457**
12,346| |Training Costs|||**5,944**
8,299| |Auditor's remuneration - Governance Cost|||**14,120**
7,835| |Trustee Meetings - Governance Cost|||**-**
22| |Other Office Costs|||**44,868**
55,676| |Cost ofgeneratingfunds|||**1,219**
1,100| ||||**421,723**
395,288| ||||| |**Support costs have been allocated to activities in the ratio**
**of direct salaries as follows**|||**2021**
2020| |Cost of generating funds (note 5)|||**1,219**
1,100| |Cost of charitable activities - Adults (note 6)|||**161,673**
192,043| |- Children's (note 6)|||**103,683**
71,295| |- Independent Living (note 6)|||**155,148**
130,850| ||||**421,723**
395,288| 29 ||||Annual Report
2020/2021|Annual Report
2020/2021| |---|---|---|---|---| |**_8_**|
**_Net_**|**_expenditure_**|**2021**|2020| ||_This_|_is stated after charging_|**£**|£| ||Depreciation of tangible fixed assets (note 11)||**28,347**|
25,034| ||Auditor's remuneration||**10,200**|
7,835| ||Operating Lease Cost||**23,955**|
23,955| |**_9_**|
**_Staff Costs_**||**2021**|2020| ||_Staff costs were_||**£**|£| ||Salaries||**1,616,341**|
1,720,550| ||Social security costs||**104,245**|
108,569| ||Pension||**23,903**|
23,817| ||||**1,744,489**|
1,852,936| The charity employed on average 234 staff (2020: 254) of whom 97 (2020: 98) were employed on a sessional part time basis. The charity operates the auto enrolment pension scheme and makes the minimum contribution of 3% (2020: 3%) to this scheme, there are 101 employees (2020: 116) within the scheme. No employee received remuneration amounting to more than £60,000 in either year. The pensions costs charge represents contributions payable by the charity to the fund and amounted to £23,903 (2020: £23,817) Contributions totalling £10,862 (2020: £11,543) were payable to the fund at the balance sheet date and are included in creditors. ## _**10 Trustee and Key Management personnel remuneration and expense**_ No trustee received any remuneration during either year. During the year 0 trustee (2020: 1) was reimbursed for out-of-pocket expenses. £NIL (2020: £22). Related Trustee Party Transactions include: 1 trustee son received support through the choir project a voluntary project with no member contribution required. The charity purchased trustee indemnity insurance at a cost of £996 (2020: £921) included in governance costs. The total amount of employee benefits paid to Key management personnel were £206,158 (2020: £159,094) for the year. Key management personnel are those persons having authority and responsibility for planning, directing, and controlling the activities of the entity, directly or indirectly, including any directors (whether executive or otherwise) of the entity. Related Employee Party Transactions £NIL (2020: P Burnham, Senior Manager, Partner Gross Salary £278 for working as a Personal Assistant) 30 ||||||| |---|---|---|---|---|---| ||||||Annual Report
2020/2021| |**_11_**
**_Tangible Fixed Assets_**
**IT**
**Equipment**
**Freehold**
**Property**
**Leasehold**
**Improvements**
**Fixtures**
**and**
**Fittings**|||||**Motor**
**Vehicle**
**Total**| ||**Cost**|**£**
**£**
**£**
**£**|||**£**
**£**| ||At 1st April 2020|**68,006**
**335,604**
**99,085**
**89,856**|||**42,000**
**634,551**| ||Capital expenditure for theyear**-**
**-**
**-**
**-**||||**-**
**-**| ||**At 31st March 2021**|**68,006**
**335,604**
**99,085**
**89,856**|||**42,000**
**634,551**| ||||||| ||**Depreciation**||||| ||At 1st April 2020|**27,193**
**60,663**
**98,927**
**82,803**|||**42,000**
**311,586**| ||Charge for theyear|**18,786**
**6,021**
**158**
**3,382**|||**-**
**28,347**| ||**At 31st March 2021**|**45,979**
**66,684**
**99,085**
**86,185**|||**42,000**
**339,933**| ||||||| ||**Net Book Value**||||| ||**At 31st March 2021**|**22,027**
**268,920**
**-**
**3,671**|||**-**
**294,618**| ||||||| ||At 31st March 2020|40,813
274,941
158
7,053|||-
322,965| ||||||| |**_12_**|
**_Debtors_**||||**2021**
2020| ||||||**£**
£| ||Trade Debtors||||**131,200**
195,170| ||Prepaid expenses||||**19,185**
23,567| ||Other Debtors||||**23,589**
21,769| ||||||**173,974**
240,506| ||||||| |**_13_**|
**_Cash at bank and on hand_**||||**2021**
2020| ||||||**£**
£| ||Bank deposit accounts||||**148,872**
166,840| ||Bank current accounts||||**229,397**
65,798| ||Cash||||**1,266**
4,720| ||||||**379,535**
237,358| ||||||| |**_14_**
**_Creditors: amounts falling due within one year_**|||||**2021**
2020
**£**
£
**15,691**
26,104
**119,807**
32,348
**19,611**
48,504
**13,386**
13,827
**91,749**
100,653
**260,244**
221,436| ||||||| |Trade creditors|||||| |Taxation and social security|||||| |Deferred income|||||| |Other creditors (charge card/pension)|||||| |Accruals|||||**91,749**
100,653| |**Total current liabilities**|||||**260,244**
221,436| ||||||| During the year, a Time to Pay arrangement was reached with HMRC to pay PAYE and NI deductions totalling £129,905 over eighteen months. At 31st March 2021 the amount outstanding was £94,535. 31 |||| |---|---|---| |Annual Report
2020/2021||| |**Deferred Income**||**2021**
2020| |||**£**
£| |Deferred Income as 1st April 2020
**48,504**
42,729||| |Amount released from previous year
**(38,112)**
(35,567)||| |Incomingresources deferred in theyear
**9,219**
41,342||| |**Deferred Income as 31st March 2021 - which relates to grants which are for**
**21/22**
**19,611**
48,504||| |||| |**_15_**
**_Statement of fund movements_**
1st April
2020
**Incoming**
**resources**
**Resources**
**expended**
**At 31st**
**March**
**2021**||| |||£
**£**
**£**
**£**| |**General Funds**||484,833
**1,627,312**
**1,582,781**
**529,364**| |**Designated Funds**||| |Restructuring||-
**-**
**-**
**-**| |Fixed Assets||28,527
**-**
**18,785**
**9,742**| |**Total Unrestricted Funds**||513,360
**1,627,312**
**1,601,566**
**539,106**| |||| |**Restricted Funds**||| |Fixed Assets*****||58,339
**-**
**9,562**
**48,777**| |Screw Fix||-
**5,000**
**5,000**
-| |Children In Need||-
**22,815**
**22,815**
-| |JRS Grant||-
**358,338**
**358,338**
-| |YIF/YAS Funding||7,694
**177,522**
**185,216**
-| |**Total Restricted Funds**||66,033
**563,675**
**580,931**
**48,777**| |||| |**Total Funds**||579,393
**2,190,987**
**2,182,497**
**587,883**| |||| ***** The fixed asset fund represents the Net Book Value of assets purchased with restricted funds. 32 ||||||||Annual Report
2020/2021
**Incoming**
**resources**
**Resources**
**expended**
**At 31st**
**March 2020**
**£**
**£**
**£**
**2,057,955**
**2,098,535**
**484,833**
**-**
**-**
**-**
**-**
**14,251**
**28,527**
**2,057,955**
**2,112,786**
**513,360**
**-**
**10,783**
**58,339**
**7,000**
**7,000**
**-**
**33,386**
**33,386**
**-**
**47,000**
**47,000**
**-**
**205,250**
**205,250**
**7,694**
**292,636**
**303,419**
**66,033**
**2,350,591**
**2,416,205**
**579,393**
**Restricted**
**Funds**
**Total**
**Funds**
Total
Funds
**2021**
**2021**
**2020**
**£**
**£**
**£**
**48,777**
**294,618**
322,965
**-**
**293,265**
256,428
**48,777**
**587,883**
579,393
**Restricted**
**Funds**
**Total**
**Funds**
Total
Funds
**2020**
**2020**
2019
**£**
**£**
£
**66,033**
**322,965**
298,580
**-**
**256,428**
346,427
**66,033**
**579,393**
645,007
**Office**
**Equipment**
**Land and**
**Buildings**| |---|---|---|---|---|---|---|---| ||**15a**
**_Prior Year Statement of fund movements-_**
**_2019/20_**|||||At 1st April
2019|| |||||||£|| ||**General Funds**|||||525,413
|**2,057,955**
**2,098,535**
**484,833**| ||**Designated Funds**||||||| ||Restructuring|||||-|**-**
**-**
**-**| ||Fixed Assets|||||42,778|**-**
**14,251**
**28,527**| ||**Total Unrestricted Funds**|||||568,191
|**2,057,955**
**2,112,786**
**513,360**| ||||||||| ||Restricted Funds||||||| ||Fixed Assets *|||||69,122|**-**
**10,783**
**58,339**| ||Eveson Trust|||||-|**7,000**
**7,000**
**-**| ||Children In Need|||||-|**33,386**
**33,386**
**-**| ||Solihull CCG - Project B|||||-|**47,000**
**47,000**
**-**| ||YIF/YAS Funding|||||7,694
|**205,250**
**205,250**
**7,694**| ||**Total Restricted Funds**|||||76,816
|**292,636**
**303,419**
**66,033**| ||||||||| ||**Total Funds**|||||645,007
|**2,350,591**
**2,416,205**
**579,393**| ||||||||| ||**_16_**
**_Analysis of net assets between funds_**|||||**Unrestricted**
**Funds**|| |||||||**2021**|**2021**
**2021**
**2020**| |||||||**£**|**£**
**£**
**£**| ||Tangible fixed assets|||||**245,841**|**48,777**
**294,618**
322,965| ||Net current assets|||||**293,265**|**-**
**293,265**
256,428| ||**Net Assets**|||||**539,106**|**48,777**
**587,883**
579,393| ||||||||| ||**_16a_**
**_Prior Year Analysis of net assets_**
**_between funds 2019/20_**|||||**Unrestricted**
**Funds**|| |||||||**2020**|**2020**
**2020**
2019| |||||||**£**|**£**
**£**
£| |||Tangible fixed assets||||**256,932**|**66,033**
**322,965**
298,580| |||Net current assets||||**256,428**|**-**
**256,428**
346,427| |||**Net Assets**||||**513,360**|| ||||||||| |**_17_**|||||||| |||**_Commitments_**|||||| ||||||||| |||**_Operating Lease Commitments_**|||||| ||||||||**2021**
**£**
2020
£
**2021**
**£**
2020
£
**956**
955
**23,000**
23,000
**-**
956
**23,000**
46,000
**-**
-
**-**
-
**956**
**1,911**
**46,000**
**69,000**| |||In less than 1 year|||||| |||Between 1 and 5 years|||||| |||Over 5 Years|||||| |||**Total annual operating lease commitments**|||||| 33 Annual Report 2020/2021 In addition to the leases disclosed above, the charity has three leases for property, which expire between 2028 and 2030, which provide supported living accommodation for service users. The service user occupants pay a rental to the charity. The terms of the lease provide that the monthly rent payable by the charity to the landlord is the rental received from the occupants less any sums payable for utilities, council tax and upkeep of the property or, in the event that this net income is negative, then £nil. ## _**Capital Commitments**_ At the year-end there were capital commitments contracted for of £NIL (2020: £NIL). |**_18_**
**_Reconciliation of net (expenditure) / income to net cash flow from operating_**
**_activities_**
**2021**
2020
**£**
£|**_18_**
**_Reconciliation of net (expenditure) / income to net cash flow from operating_**
**_activities_**
**2021**
2020
**£**
£|**_18_**
**_Reconciliation of net (expenditure) / income to net cash flow from operating_**
**_activities_**
**2021**
2020
**£**
£|**_18_**
**_Reconciliation of net (expenditure) / income to net cash flow from operating_**
**_activities_**
**2021**
2020
**£**
£| |---|---|---|---| |Net (expenditure) / income for 2020-2021|**8,490**
(65,614)||| |Interest Receivable||**(1,202)**
(1,220)|| |Depreciation and impairment of tangible fixed assets|**28,347**
25,034||| |Increase in debtors||**66,532**
(33,494)|| |Increase in creditors||**38,808**
83,461|| ||||| |Net cash flow from operatingactivities|**140,975**
8,167||| ||||| |**_19_**
**_Analysis of changes in net debt_**|**At Start of**
**year**
**Cash Flows**
**Other**
**non-Cash**
**changes**
**At end of**
**year**
**£**
**£**
**£**
**£**
**237,358**
**12,272**
**129,905**
**379,535**
-
**35,370**
**(129,905)**
**(94,535)**
**237,358**
**47,642**
**-**
**285,000**
**At Start of**
**year**
**Cash Flows**
**Other**
**non-Cash**
**changes**
**At end of**
**year**
**£**
**£**
**£**
**£**
**293,640**
**(56,282)**
-
**237,358**
**(16,250)**
**16,250**
-
-
**277,390**
**(40,032)**
**-**
**237,358**||| ||||| |Cash|||| |HMRC Time to Payarrangement fallingdue within 1year|||| |Total|||| ||||| |**_19a_**
**_Prior Year Analysis of changes in net debt 2019/2020_**|||| ||||| |**_Cash_**|||| |**_Concessionary Loan falling due within 1year_**|||| |**_Total_**|||| 34 Annual Report 2020/2021 ## **Company Information** ## **Trustees** Jan Prior, Chair Jonathan Prior, Treasurer Paul Beech Andrew Gilyead Henry Griffiths Rehana Begum appointed May 2021 **Company Secretary:** Lesley Beer **Chief Executive Officer:** Karon Swinburn resigned March 2021 Lesley Beer appointed April 2021 **Registered Office and** 38 Walnut Close **Operational Address:** Chelmsley Wood Birmingham B37 7PU **Telephone:** 0121 779 3865 **Email:** info@sololifeopportunities.org **Website:** www.sociallifeopportunities.org **Bankers:** Lloyds Bank Solihull B91 3AN United Trust Bank Ltd London, SW1 4TE Shawbrook Bank Essex CM13 3BE Virgin Money Newcastle upon Tyne NE3 4PL Nationwide PO Box 3 5-11 St. George’s Street, Douglas, Isle of Man **Auditor: MHA MacIntyre Hudson** Rutland House 148 Edmund Street, Birmingham B3 2FD SoLO Life Opportunities (SoLO) changed to Social Life Opportunities (SoLO) April 2021, is a Company Limited by Guarantee Number 05025939 and a Registered Charity Number 1102297 The governing documents of the organisation are the Memorandum and Articles of Association which are available on www.sociallifeopportunities.org 35