**OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) **REPORT OF THE TRUSTEES** and **STATEMENT OF ACCOUNTS** **31 March 2021** **Company registration number: 5064277 Charity registration number: 1107592** ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **CONTENTS** ## **Year ended 31 March 2021** |
**The Charity, its members, board of trustees,**
**staff and professional advisers**

**Trustees’ Annual Report**

**Financial accounts:**

Independent examiner’s report


Balance sheet


Statement of financial activities (incorporating an
income and expenditure account)

 Statement of cash flows

Notes to the financial accounts
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14 - 25| |---|---| 2 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) **THE CHARITY, ITS MEMBERS, BOARD OF TRUSTEES, STAFF AND PROFESSIONAL ADVISERS** ## **Year ended 31 March 2021** **THE TRUST:** Registered name : Oaktree Family Group Ltd Legal status : Company limited by guarantee Registered office : Alver Valley Family Centre 19 Falcon Meadows Way Gosport Hampshire PO13 8AA Company registration no. : 5064277 Registered charity no. : 1107592 Telephone number : 023 9251 2963 Email address : admin@oaktreefamilygroup.org **BOARD OF TRUSTEES Officers** Chairman: Adrian Parker **Elected members** Adrian Parker Elaine Tanner Lesley Blackham Glynis Hodges Ian Lycett Jane King **COMPANY SECRETARY** Nicci Atkinson ## **MANAGEMENT** Head of Company : Nicci Atkinson Senior Early Years Manager : Julia Batley Community Development Officer : Lauren Evans Dinky Ducks Manager : Lauren Evans and Lauren Kingswell Magpies Pre-School Manager : Donna Charrington Senior Company Administrator : Sarah Proctor Caretaker : Eddie Craik ## **PROFESSIONAL ADVISERS** Independent examiner: D Clarke ACA, Wood, Hicks & Co Ltd, Chartered Accountants, Units 1-2 Warrior Court, 9-11 Mumby Road, Gosport, Hampshire, PO12 1BS Bankers: HSBC, 26 High Street, Gosport, Hampshire, PO12 1DG Solicitors: Blake Morgan LLP, Harbour Court, Compass Road, North Harbour, Portsmouth, Hampshire, PO6 4ST 3 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **TRUSTEES’ ANNUAL REPORT** ## **Year ended 31 March 2021** The Trustees have pleasure in submitting their annual report and the financial accounts of Oaktree Family Group (the Charity or the Company) as at and for the year ended 31 March 2021. ## **SECTION 1 – OBJECTIVES AND ACTIVITIES** ## **Objectives** The objectives of the Oaktree Family Group are to work with parents, parents-to-be and young children to: - advance the early years education, physical well-being and social development of young children. - relieve poverty and distress among parents, parents-to-be and young children in need. - facilitate engagement with local families and to provide support to progress parent and child relationships. - promote community engagement and provide opportunities for family activities. With regard to the public benefit the principal area of benefit is the Borough of Gosport but the Charity may also at the discretion of the Trustees provide services outside this area. ## Furtherance of objects The aims pursued in the attainment of the above objectives are: - (a) to promote and host a network of support services for families and young children, including but not limited to, early years facilities which promote young children’s health and well-being, emotional and social development, and the ability to actively learn; - (b) to promote access to and deliver such services, in particular in relation to parents, parents-to-be and young children including those with additional needs arising from learning and behavioural difficulties, or such other social and economic needs as identified by the Trustees; - (c) to support by way of grants or other assistance the activities of the Alver Valley Family Centre provided that the Trustees are satisfied that the application of funds granted or other assistance is used in promoting the objects. - (d) Work with and support volunteer groups in the community to host and promote family activities. ## Activities Alver Valley Family Centre is home to a full-time early years setting in Dinky Ducks Day Care and a term time only setting in Magpies Pre-school, supporting vulnerable families and working with them to enhance the development of the children in the setting. Developing and supporting the emotional wellbeing of children is a particular focus. Volunteering opportunities are provided to help individuals gain experience in a working environment within Oaktree Family Group services. A Sensory room within the Alver Valley Family centre is available for use as well as a small library area. Oaktree Family Group provides support to local families through providing a Stay and Play group and a messy play group called Sticky Fingers. 4 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **TRUSTEES’ ANNUAL REPORT** ## **Year ended 31 March 2021** ## **SECTION 1 – OBJECTIVES AND ACTIVITIES** (continued) Little Barn Owls, 51 week a year pre-school provision that runs from the Treehouse community building, which is part of Elson Infant School, supporting vulnerable families and working with them to enhance the development of the children in the setting. Developing and supporting the emotional wellbeing of children is a particular focus. Oaktree Training is facilitated by the Oaktree Family Group Early Years Training and Development leader, delivering local affordable early years training. ## **SECTION 2 – ACHIEVEMENTS AND PERFORMANCE** ## **Activities and achievements in the year** In 2020 Oaktree Family Groups services were impacted by the Coronavirus (Covid-19) and the lockdowns that were put in place by the Government. Due to this Oaktree Family Group were unable to rent rooms at the Alver Valley Family Centre for most of the year due to restrictions on the running of groups. Oaktree Family Group did not run their Sticky Fingers or Stay and Play sessions for the whole of this financial year, it is hoped as restrictions ease these groups can be re-established. Oaktree Family Group were successful in being awarded three grants during the pandemic. Two of these helped the charity to support vulnerable families and children and children with Chil(SEND), by providing support virtually and on the phone and home resource packs; and one of the grants was to support the sustainability of the charity. Throughout the pandemic Oaktree Family Group continued to provide childcare places for keyworker and vulnerable children. During the period of April – August 2020 Little Barn Owls Pre-school service moved to the Alver Valley Family centre, where all three settings where run from Dinky Ducks Day Care as the Oaktree Family Group hub. Dinky Ducks Day Care is open 07.00-18.00 all year round providing early years care and education for children from 3 months to 5 years of age. This early years setting provides both nursery and pre-school places across two rooms called Ducklings and Puddle Ducks. Magpies Pre-school is an established term time only setting in the heart of the regenerated area, providing early years care and education from 09.00-15.00 for children from 2-5 years of age. Magpies Pre-school moved to the Alver Valley Family Centre from April 2020, however due to the pandemic this setting was part of the Oaktree Family Group hub running out of Dinky Ducks Day Care. The Magpies new space was used by the Magpies Bubble from 8th June 2020 and fully by all Magpies children from September 2020. The growth of both Dinky Ducks Day Care and Magpies Pre-school early years settings have been impacted by Covid-19, but towards the end of this financial year bookings were on the increase. Both early years settings continue to support a high number of children with SEND. Little Barn Owls Pre-school is open from 08.00-18.00 all year round, providing early years care and education for children 2 – 5 years of age. Little Barn Owls work in collaboration with Elson Infants School helping to build a community around the campus. The number of registered children continues to grow during the term time core school hours of the day. 5 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **TRUSTEES’ ANNUAL REPORT** ## **Year ended 31 March 2021** ## **Activities and achievements in the year** (continued) However, there has been a reduction in the need for full days. A decision was made in March 2021 that Little Barn Owls opening hours would change to 08.00-16.00, 48 weeks a year. Little Barn Owls is still waiting for their first Ofsted inspection. Covid-19 has impacted on all three early years settings throughout this year in many different ways, including lower than predicted numbers of children from September 2020, Children personal social and emotional development, staffs wellbeing and increased expenditure in some areas especially cleaning time and resources. The impact on all provisions nationally of the Governments 30 hour ‘Free’ childcare funding rolled out in September 2017 is continued to be felt by all 3 of our early years settings. The hourly rate provided by Hampshire County Council (the funding authority) is in line with the Early Years National Funding Formula, which is based on 2012 costs and therefore falls short of our normal hourly rate. The impact of this continues to be to the negative, a consumable charge which parents pay for consumables against all funded hours was put in place from April 2019 to help mitigate losses. A new session structure for the Oaktree Family Group early years settings was put in place providing a more sustainable structure, this was fully established with all children being on the new structure by September 2020. Oaktree Family Group has successfully provided three staff training days in the past year, facilitated by the Early Years Training and Development Leader and the Head of Oaktree Family Group, with all three taking place virtually. These days focused on children personal social and emotional development, children’s wellbeing, and the Early Years Foundation Stage. Oaktree Training accessibility in these current times has been developed with a dedicated page on Oaktree Family Groups website, which allows direct bookings and purchases of webinars. Outaskool Adventures had seen a further decrease in numbers. This has resulted due to Alver Valley School opening a new low cost before and after school provision. However, what Outaskool has provided is specialist places supporting SEND children and worked in partnership with school escorts for local specialist school provision. The decision was made by the board in January 2020 that due to this service no longer being financially sustainable Outaskool Adventures would close in July 2020. However, due to Covid-19 Outaskool Adventures services ceased on 20th March 2020. The Health services that run from the centre continue, with a Midwife being in the centre at least two days a week. However, due to Covid-19 the Baby weigh in clinic has been unable to take place, but as restrictions ease it is hoped this service will be run from the centre once again. Rowner Community Events (RCE) are signed up as volunteers to Oaktree Family Group, however they have not been as active this past year as previously. Feedback has been taken from families that have accessed the Centre services. This has fed into our provision of activities in the centre. 6 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **TRUSTEES’ ANNUAL REPORT** ## **Year ended 31 March 2021** ## **Subsequent events and future developments** The challenge continues to remain for the Oaktree Family Group Trustees and Management to secure the long-term position of the Alver Valley Family Centre by replacing the funding lost from the Hampshire County Council Family Support Service (HCC FSS). Discussions have taken place regarding the challenge moving forward and a plan has been implemented for 2021/2022 with remaining rooms being given a makeover and room hire will be advertised actively moving forward through local forums, social media, and Oaktree Family Group website. Alver Valley Family Centre has four group rooms of varying size and a meeting room available for rental. Oaktree Family Group’s children and family activities that run from Alver Valley Family Centre are an important part of the community. As part of the charity’s Covid-19 operational plan, re-establishing these activities is a priority to focus on in this coming year. However, the success of these groups’ sustainability is down to successful funding applications. A local consultation will take place via social media to understand what activities families would like to access in the future at Alver Valley Family Centre. For Oaktree Family Groups three early years settings a focus for the next year is developing and enhancing early years practice in line with the revised Early Years Foundation Stage, which comes into effect from September 2021. The impact of the lower rate of funding for the ‘free’ 30 hours funded childcare, together with the increases in the National Minimum Wage and National Living Wage continues to challenge the early years sector. Oaktree Family Group recognise the importance of staff mental health and wellbeing and in the past year have done all they can to support staff during the pandemic. This has been highlighted as an area for further development and therefore each setting now has a dedicated staff wellbeing budget and Oaktree Family Group has two fully trained Mental Health First Aiders. The development of Oaktree Training continues using social media, networking, and our website. Moving forward Oaktree training will also be facilitating training using webinars. The potential of Oaktree Family Group/Oaktree Training facilitating a local early years conference is being considered. The impact of Coronavirus/COVID-19 on Oaktree Family Group is continuing to be closely monitored by Oaktree Family Group Trustees and Management and an operational plan is in place. Funding opportunities are being investigated and our online and social media presence is being successfully developed and our website is updated on an ongoing basis. ## **SECTION 3 – FINANCIAL REVIEW** The Trustees consider that the state of the Company’s affairs is satisfactory and that, on a fund by fund basis, the Charity’s assets are available and adequate to fulfil its obligations. The Company has received direct grants totalling £669,397 (2020: £496,182) and user contributions of £194,958 (2020: £379,657) in the year for its services. 7 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **TRUSTEES’ ANNUAL REPORT** ## **Year ended 31 March 2021** ## **SECTION 3 – FINANCIAL REVIEW** (continued) Direct expenditures comprise payroll of £594,950 (2020: £804,507) and other costs totalling £125,875 (2020: £187,224). ## Reserves The Charity’s policy is to hold sufficient unrestricted and restricted reserves equal to six weeks operating costs to enable it to: - a) withstand an unforeseen financial setback and provide a minimum of six weeks operating costs. - b) provide temporary financial assistance to project funds that are awaiting funding from other organisations. - c) take advantage of any opportunity which the Board considers will benefit the Charity and the community it serves. Several designated funds have also been created to ring-fence resources needed for the maintenance and development of the Day Care, Pre-schools and Family Centre. ## **SECTION 4 – STRUCTURE, GOVERNANCE AND MANAGEMENT** The articles of association require that the Charity be managed by a board of trustees (the Board), the members of which are directors and managing trustees respectively within the meaning of Companies Act 2006 and the Charities Act 2011. The Board meets approximately every 10 weeks. Minor and routine operational decisions are made by the Charity’s managerial staff. Major operating decisions are made by the simple majority of a quorate Board meeting. Constitutional matters are decided by a 75% majority of the members in a General Meeting. Election of trustees is decided by a simple majority of the members in General Meeting. New trustees are initially vetted by the Board, undergo DBS checks and EY2 checks with Ofsted and, if considered suitable, receive verbal and written instructions concerning their statutory responsibilities. Company law requires the Trustees to prepare financial accounts for each financial year. Under that law the Trustees have elected to prepare financial accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial accounts unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its surplus or deficit for that year. In preparing those financial accounts, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 8 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **TRUSTEES’ ANNUAL REPORT** ## **Year ended 31 March 2021** ## **SECTION 4 – STRUCTURE, GOVERNANCE AND MANAGEMENT** (continued) ## Powers Oaktree Family Group is permitted by its memorandum of association to engage in any lawful activity as shall further its charitable objects. The Charity may invest funds in any manner subject to the obtaining such advice from a financial expert as the Board considers necessary. ## Training of trustees All trustees appointed to the Board are experienced in charity work, they also bring a wealth of experience from the own work. All trustees complete in house basic EYFS training, online Safeguarding training and Prevent training. Regular training is provided, including formal ‘away days’. These are held when necessary to maintain and enhance Trustees skills and knowledge. ## Management of risk The Trustees are aware of their responsibilities to effectively mitigate the major risks to which the Charity is exposed and to ensure that its aims and objectives are not under threat. The business plan identifies key areas of human, financial and information resources and levels of service provision that are essential for the Company to operate effectively as well as environmental factors that could influence or threaten the Charity. A continuous review process is in place to ensure that significant risks are identified and that appropriate systems are in place to manage those risks. ## Gosport Borough Council The building is leased from Gosport Borough Council for a peppercorn rent. The Report of the Committee of Management has been prepared in accordance with provisions of Part 15 of the Companies Act 2006 relating to small companies. **By order of the Board** ………………………………………………… Chairman A Parker 29 June 2021 9 ## **INDEPENDENT EXAMINER’S REPORT** ## **TO THE TRUSTEES OF OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **REGISTERED CHARITY NUMBER: 1107592** I report to the charity trustees on my examination of the financial accounts of the Company for the year ended 31 March 2021 which are set out on pages 11 to 25. ## **Respective responsibilities of trustees and examiner** As the charity’s trustees of the Company (who are also the directors of the Company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination, I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner’s statement** The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ICAEW. I have completed my examination. I confirm that no material matters have come to my attention that gives me cause to believe that: - accounting records were not kept in accordance with section 386 of the 2006 Act; or, - the accounts do not accord with such records; or, - the accounts do not comply with the relevant accounting requirements under section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or, - the accounts have not been prepared in accordance with the Charities SORP (FRS - 102), second edition October 2019. I have no concerns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Wood, Hicks & Co. Chartered Accountants ………………………………………………………………… Units 1-2 Warrior Court, D Clarke ACA 9-11 Mumby Road, Gosport 29 June 2021 Hampshire PO12 1BS 10 Company number: **05064277** **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) **BALANCE SHEET 31 March 2021** Note **2021** 2020 **£** £ **FIXED ASSETS** Tangible fixed assets 4 **26,989** 34,692 **———————** ——————— **CURRENT ASSETS** Stock **2,186** 500 Debtors 5 **55,170** 58,530 Cash at bank and in hand **271,269** 110,057 **———————** ——————— **328,625** 169,087 **LIABILITIES** Creditors: Amounts falling due within one year 6 **64,381** 60,706 **———————** ——————— **NET CURRENT ASSETS 264,244** 108,381 **———————** ——————— **TOTAL NET ASSETS £291,233** £143,073 **═══════** ═══════ **THE FUNDS OF THE CHARITY: ACCUMULATED FUNDS** Unrestricted funds 14,15 **198,761** 141,376 Restricted funds 14,15 **92,472** 1,697 **———————** ——————— **ACCUMULATED FUNDS AT 31 MARCH 2020 £291,233** £143,073 **═══════** ═══════ The directors are satisfied that the Company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. Members have not required the Company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. Approved by the Board of Trustees on 29 June 2021 and signed on its behalf ………………………………………………………… Chairman A Parker **The notes set out on pages 14 to 25 form part of these financial accounts.** 11 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **STATEMENT OF FINANCIAL ACTIVITIES** **(incorporating an income and expenditure account)** ## **Year ended 31 March 2021** |**2021**_
**Unrest- Rest-**
Unrest-
Note **ricted ricted Total**
ricted
**£ £ £**
£
**INCOME FROM**
Investments**292 292**
794
Donations**528 528**

Charitable activities 7**197,493 667,012 864,505**
370,416
Other income 8**3,660** **3,660**
**——————— ——————— ———————**
———————
**Total income** **201,973 667,012 868,985**
371,210
**——————— ——————— ———————**
———————
**EXPENDITURE ON**
Charitable activities 9**144,588 576,237 720,825**
399,225
**——————— ——————— ———————**
———————
**Total resources expended** **144,588 576,237 720,825**
399,225
**——————— ——————— ———————**
———————
**NET INCOME (EXPENDITURE)** **57,385 90,775 148,160**
(28,015)
**TRANSFERS BEWTEEN FUNDS**10,14**- - - **(60,500)
**——————— ——————— ———————**
———————
**NET MOVEMENT IN FUNDS** **57,385 90,775 148,160**
(88,515)
**RECONCILIATION OF FUNDS**
Total funds brought forward 14,15**141,376 1,697 143,073**
229,891
**——————— ——————— ———————**
———————
**TOTAL FUNDS CARRIED FORWARD**14,15**£198,761 £92,472 £291,233**
£141,376
**═══════ ═══════ ═══════**
═══════||2020| |---|---|---| The Statement of Financial Activities contains all the necessary disclosure requirements of an Income and Expenditure Account under the Companies Act 2006. **The notes set out on pages 14 to 25 form part of these financial accounts.** 12 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **STATEMENT OF CASH FLOWS** ## **Year ended 31 March 2021** ||**2021**|2020| |---|---|---| ||**£**|£| |Net movement in funds for the year (as per||| |Statement of financial activities)|**148,160**|(107,591)| |**Cash flows arising from operating activities**||| |Adjustments for:||| |Depreciation|
**8,614**|9,783| |Gain on sale of fixed assets|**(3,620)**|**-**| |(Increase) in stock|
**(1,686)**|-| |(Increase)/decrease in debtors|**3,360**|(6,055)| |Increase/(decrease) in creditors|**3,675**|(7,399)| ||**———————**|———————| |**Net cash provided by/(used in) operating activities**|**158,503**|(111,262)| ||**———————**|———————| |**Cash flows from investing activities**||| |Purchase of tangible fixed assets|**(1,291)**|(7,678)| |Proceeds of property, plant and equipment|**4,000**|**-**| ||**———————**|**———————**| |**Net cash provided by investing activities**|**2,709**|(7,678)| ||**———————**|**———————**| |**Change in cash and cash equivalents during the year**|**161,212**|(118,940)| |**Cash and cash equivalents at beginning of the year**|**110,057**|228,997| ||**———————**|———————| |**Cash and cash equivalents at the end of the year**|**271,269**|110,057| ||**═══════**|═══════| **The notes set out on pages 14 to 25 form part of these financial accounts.** 13 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 1 – LEGAL STATUS AND OBJECTIVES OF OAKTREE FAMILY GROUP LTD** The Charity is a company limited by guarantee and not having a share capital. It is managed by a Board of Trustees, the members of which are directors and charity trustees respectively within the meaning of the Companies Act 2006 and the Charities Act 2011. The objectives of the Company are to promote the advancement of education and social development of young children and relieve poverty and distress among their families. ## **NOTE 2 – NATURE AND PURPOSE OF DESIGNATED AND RESTRICTED FUNDS** ## Designated - **(a) Building management** - Funds set aside for the long-term maintenance and development of the Alver Valley Family Centre building. - **(b) Occupancy** Funds relating to room usage and utility expenses for Alver Valley Family Centre building. - **(c) Family support** Contributions from families retained for additional funding provision for family services. - **(d) Staff rationalisation** Funds set aside for future staff rationalisation costs. - **(e) Outaskool adventures** Funds set aside for before/after school and holiday care provision. - **(f) Little Barn Owls** Provision of a 51 week a year pre-school provision for children aged 2 to 5 years. - **(g) Day care** Provision of flexible day care facilities to meet the needs of families in an under-privileged area. - **(h) Crèche** Provision of flexible crèche facilities for children aged 3 months to 11 years. ## Restricted - **(i) Magpies Pre-School** Provision of pre-school facilities for children aged 2 to 5 years. - **(j) Early year education funding** - Funding for early years education for the day care facility for all children including targeted funding for two year olds. - **(k) Little Barn Owls early year education funding** - Funding for early years education for the Little Barn Owls setting for all children including targeted funding for two year olds. - **(l) Meal grants** Funding to support vulnerable households affected by Covid that would meet the ‘Free School Meals’ criteria. 14 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 2 – NATURE AND PURPOSE OF DESIGNATED AND RESTRICTED FUNDS** (continued) - **(m) Coronavirus Job Retention Scheme (CJRS) and Statutory Sick Pay (SSP) Rebate fund** Funding to support and protect jobs in the wake of the economic impacts of the pandemic. Support for employers to continue to pay wages rather than make people redundant where salaries were not covered by continued public funding. - **(n) Covid-19 fund** Various funding to support lost income and to support vulnerable families during the pandemic. ## **NOTE 3 — ACCOUNTING POLICIES** - **(a) Accounting convention** - The financial accounts are prepared under the historical cost convention in accordance with the: - provisions of Financial Reporting Standard 102 (FRS 102); - Companies Act 2006; and, - Statement of Recommended Practice applicable to charities preparing accounts in accordance with FRS 102. - **(b) Basis of preparation of accounts** The accounts of the Charity include all the assets and liabilities under the control of its Board of Trustees. Grants and donations received for non-specific purposes or general funding are available for utilisation at the discretion of the Board. Grants and donations received for specific charitable projects are treated as restricted funds available only for use on such specified projects. - **(c) Going concern** - Oaktree Family Groups services were impacted by Covid-19 and the lockdowns that were put in place by the Government meant that the Company could not operate at full capacity. However, the Company continued to receive government funding along with making CJRS and SSP rebate claims. This ensured that sufficient reserves were maintained. For this reason, the trustees believe that COVID-19 has not impacted the Charity’s ability to continue to operate as a going concern. ## **(d) Fixed assets and depreciation** Fixed assets acquired are capitalised at cost and are depreciated at annual rates to arrive at their estimated residual value at the end of their useful economic lives, as follows: Furniture and equipment 25% reducing balance Computer equipment 25% reducing balance ## **(e) Stock** Stock of food and consumable materials is valued at the lower of cost and net realisable value. - **(f) Debtors** Debtors are stated at the amounts due to the Charity at the balance sheet date. Prepayments are recorded for the proportion of time-based expenditures attributable to the ensuing year. 15 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 3 — ACCOUNTING POLICIES** (continued) ## **(g) Cash and cash equivalents** Amounts held in bank accounts and cash at the balance sheet date. This is held to meet the day to day running costs of the charity as they fall due. ## **(h) Creditors** Creditors are recognised as soon as an outflow of economic benefit is considered more likely than not to occur under a legal or constructive obligation committing the Charity to pay out resources. Creditors that are current liabilities are recognised at the settlement amount expected to be paid at the balance sheet date. ## **(i) Taxation** The Company is a registered charity and, in the opinion of the Board, is exempt from corporation tax on its surpluses on financial activities in accordance with S.486 of the Corporation Tax Act 2010. ## **(j) Grant income recognition** A grant that becomes receivable on the occurrence of a certain specified future event is recognised in the financial accounts when the specified event has occurred and all the grantor's requirements associated with it have been complied with. ## **(k) Pension commitments** The Charity operates defined contribution pension arrangements for certain staff. These contributions are charged as expenditure when they fall due and are invested separately from the Charity’s assets. ## **(l) Allocation and analysis of resources used** Central expenditures for charitable support and administration are partly met through core funding and partly from attributions to restricted funds for centrally-borne support costs. ## **NOTE 4 – TANGIBLE FIXED ASSETS** **Year ended 31 March 2021** Furniture Computer & equipment equipment Total £ £ £ **Cost** Balance at 1 April 2020 **90,035 33,540 123,575** Additions **563 728 1,291** Disposals **(12,000)** - **(12,000) —————— —————— ——————** Balance at 31 March 2021 **78,598 34,268 112,866 —————— —————— —————— Depreciation** Balance at 1 April 2020 **64,896 23,987 88,883** Charge for year **6,201 2,413 8,614** Disposals **(11,620) - (11,620) —————— —————— ——————** Balance at 31 March 2021 **59,477 26,400 85,877 —————— —————— —————— Net book value** At 31 March 2021 **£19,121 £7,868 £26,989 ══════ ══════ ══════** At 31 March 2020 £25,139 £ 9,553 £34,692 **══════ ══════ ══════** 16 ## **OAKTREE FAMILY GROUP LTD** ## (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 4 – TANGIBLE FIXED ASSETS** (continued) Year ended 31 March 2020 Furniture Computer & equipment equipment Total £ £ £ Cost Balance at 1 April 2019 88,667 27,230 115,897 Additions in year 1,368 6,310 7,678 —————— —————— —————— Balance at 31 March 2020 90,035 33,540 123,575 —————— —————— —————— Depreciation Balance at 1 April 2019 56,693 22,407 79,100 Charge for year 8,203 1,580 9,783 —————— —————— —————— Balance at 31 March 2020 64,896 23,987 88,883 —————— —————— —————— Net book value At 31 March 2020 £25,139 £ 9,553 £34,692 ══════ ══════ ══════ At 31 March 2019 £31,974 £ 4,823 £36,797 ══════ ══════ ══════ **NOTE 5 — DEBTORS Falling due within one year 2021** 2020 **£** £ Childcare fees receivable **44,772** 44,398 Prepayments **6,849** 6,865 Accrued income **3,070** 6,606 Other debtors **479** 661 **——————** —————— **£55,170** £58,530 **══════** ══════ **NOTE 6 — CREDITORS:** Amounts falling due within one year **2021** 2020 **£** £ Trade creditors **9,471** 9,847 Tax and social security **4,747** 6,512 Other creditors **1,277** 2,357 Accrued charges **9,896** 10,472 Retainer received in advance **13,284** 16,586 Childcare fees received in advance **25,706** 14,932 **——————** —————— **£64,381** £60,706 **══════** ══════ 17 ## **OAKTREE FAMILY GROUP LTD** ## (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 7 – INCOME FROM CHARITABLE ACTIVITIES** ||||**2021**|**_**| |---|---|---|---|---| |**Year ended 31 March 2021**||**Unrest-**|**Rest-**|| |||**ricted **|**ricted**|**Total **| |||**£**|**£**|**£**| |**Grants receivable**||||| |Monetary||||| |Early Years Education grant||
|**446,374**|**446,374**| |Early Years Pupil|Premium funding|
|**5,556**|**5,556**| |Children in care funding||
|**12,087**|**12,087**| |Coronavirus funding||**10,000**|**190,565**|**200,565**| |College grants||**500**||**500**| |Meal grants|||**3,987**|**3,987**| |Milk contributions||**328**||**328**| |||**———————**|**———————**|**———————**| |||**10,828**|**658,569**|**669,397**| |||**———————**|**———————**|**———————**| |**Fees and other income**||||| |User fees||**186,515**|**8,443**|**194,958**| |Occupancy income||**185**||**185**| |Training income||**(35)**||**(35)**| |||**———————**|**———————**|**———————**| |||**186,665**|**8,443**|**195,108**| |||**———————**|**———————**|**———————**| |||**£197,493**|**£667,012**|**£864,505**| |||**═══════**|**═══════**|═══════| ||||2020|_| |Year ended 31 March 2020||Unrest-|Rest-|| |||ricted|ricted|Total| |||£|£|£| |Grants receivable||||| |Monetary||||| |Early Years Education grant||
|467,974|467,974| |Early Years Pupil|Premium funding|
|3,418|3,418| |Children in care funding||
|17,116|17,116| |Coronavirus funding||2,495|3,980|6,475| |College grants||500||500| |Milk contributions||291|408|699| |||———————|———————|———————| |||3,286|492,896|496,182| |||———————|———————|———————| |Fees and other income||||| |User fees||359,956|19,701|379,657| |Occupancy income||2,842||2,842| |Training income||3,669||3,669| |Photography||663|199|862| |||———————|———————|———————| |||367,130|19,900|387,030| |||———————|———————|———————| |||£370,416|£512,796|£883,212| |||═══════|═══════|═══════| 18 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 8 – OTHER INCOME** |**NOTE 8 – OTHER INCOME**|||| |---|---|---|---| |||**2021**|**_**| |**Year ended 31 March 2021**|**Unrest-**|**Rest-**|| ||**ricted**|**ricted**|**Total **| ||**£**|**£**|**£**| |Other income|||| |Gain on disposal of tangible fixed assets|**3,660**||**3,660**| |||2020|_| |Year ended 31 March 2020|Unrest-|Rest-|| ||ricted|ricted|Total| ||£|£|£| |Other income|||| |Gain on disposal of tangible fixed assets|-||-| |**NOTE 9 – EXPENDITURE ON CHARITABLE ACTIVITIES**|||| |||**2021**|**_**| |**Year ended 31 March 2021**|**Unrest-**|**Rest-**|| ||**ricted**|**ricted**|**Total **| ||**£**|**£**|**£ **| |Payroll and related costs|||| |Wages, salaries and pension|**108,406**|**486,544**|**594,950**| |Training|**699**|**1,587**|**2,286**| |Other employment costs|**(585)**|**767**|**182**| |Other direct costs|||| |Winter meal vouchers||**2,508**|**2,508**| |Consumable materials|**1,507**|**3,576**|**5,083**| |Catering – food and other consumables|**5,992**|**557**|**6,549**| |Premises cleaning and materials|**165**|**5,742**|**5,907**| |Water and sewerage|**522**|**1,046**|**1,568**| |Nappy and waste disposal costs|**299**|**3,535**|**3,834**| |Light and heat|**2,001**|**8,347**|**10,348**| |Building repairs and maintenance|**1,255**|**20,837**|**22,092**| |Buildings insurance|**220**|**408**|**628**| |Repairs and renewals of equipment|**651**|**941**|**1,592**| |Depreciation of operating equipment|**6,526**|**2,088**|**8,614**| |Room hire and storage costs|**1,546**|**9,368**|**10,914**| |Other direct costs|**(330)**|**(211)**|**(541)**| |Management and administrative costs|||| |Telephone and postage|**3,616**|**8,548**|**12,164**| |Printing and stationery|**695**|**2,712**|**3,407**| |General insurance|**1,602**|**3,090**|**4,692**| |Memberships and subscriptions|**585**|**1,413**|**1,998**| |Advertising and promotion|**124**|**766**|**890**| |Computer consumables and IT support|**1,464**|**3,620**|**5,084**| |Bad debts|**4,291**|**2,163**|**6,454**| |Miscellaneous expenses
|**4**|**10**|**14**| |
Professional and finance costs|||| |Accountancy fees|**1,913**|**4,645**|**6,558**| |Bank charges|**165**|**185**|**350**| |Professional and legal costs|**733**|**167**|**900**| |Independent examiner’s fee|**522**|**1,278**|**1,800**| ||**———————**|**———————**|**———————**| ||**£144,588**|**£576,237**|**£720,825**| ||**═══════**|**═══════**|**═══════**| 19 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 9 – EXPENDITURE ON CHARITABLE ACTIVITIES** (continued) ||2020 _| |---|---| |Year ended 31 March 2020|Unrest- Rest-| ||ricted ricted Total| ||£ £ £| |Payroll and related costs|| |Wages, salaries and pension|292,143 512,364 804,507| |Training|5,151 8,262 13,413| |Other employment costs|1,030 1,364 2,394| |Other direct costs|| |Consumable materials|3,767 5,085 8,852| |Catering – food and other consumables|29,831 1,695 31,526| |Premises cleaning and materials|3,718 3,115 6,833| |Water and sewerage|2,183 940 3,123| |Nappy and waste disposal costs|2,991 1,294 4,285| |Light and heat|5,738 3,492 9,230| |Building repairs and maintenance|18,142 3,196 21,338| |Buildings insurance|1,013 648 1,661| |Repairs and renewals of equipment|2,695 1,056 3,751| |Depreciation of operating equipment|8,080 1,703 9,783| |Room hire and storage costs|3,572 26,147 29,719| |Other direct costs|708 211 919| |Management and administrative costs|| |Telephone and postage|4,844 4,574 9,418| |Printing and stationery|4,294 3,494 7,788| |General insurance|2,136 2,717 4,853| |Memberships and subscriptions|951 1,675 2,626| |Advertising and promotion|102 214 316| |Computer consumables and IT support|2,204 2,506 4,710| |Bad debts|-| |Miscellaneous expenses
|116 2 118| |
Professional and finance costs|| |Accountancy fees|1,816 5,321 7,137| |Bank charges|342 276 618| |Professional and legal costs|902 111 1,013| |Independent examiner’s fee|756 1,044 1,800| ||——————— ——————— ———————| ||£399,225 £592,506 £991,731| ||═══════ ══════════════| 20 ## **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 10 — TRANSFERS** The following transfers have been made between funds during the year: - a) The Staff rationalisation fund has been decreased by £9,030 during the year to more accurately reflect the anticipated costs associated with any future staff rationalisation. This has been achieved by way of transfer of £394 from Day Care fund, and the reversal of £6,200 to General fund, £1,221 to Crèche fund and £2,003 to Little Barn Owls fund. - b) The Crèche fund has been increased by £4,659 by transfer from the general fund to cover the shortfall of the fund. The trustees no longer view this fund as designated. - c) The Outaskool fund has been increased by £13,000 by transfer from the Day care fund to cover the shortfall of the fund. The trustees no longer view this fund as designated. - d) The Outaskool fund has been increased by £11,015 by transfer from the Little Barn Owls fund to cover the shortfall of the fund. The trustees no longer view this fund as designated. - e) The Occupancy fund has been increased by £1,299 by transfer from the general fund to cover the shortfall of the fund. ## **NOTE 11 — PAYROLL AND STAFFING** **2021** 2020 **£** £ Staff costs Gross wages and salaries **567,482** 743,171 Employer’s national insurance (net of employer’s allowance) **20,573** 33,683 Pension contributions **6,895** 9,110 **———————** ——————— **£594,950** £785,964 ═══════ ═══════ The average number of staff employed during the year was 55 (2020: 52). No employees received emoluments exceeding £60,000 p.a. (2020: £60,000). ## **NOTE 12 – TRUSTEES’ EMOLUMENTS AND EXPENSES** No Trustees or any persons connected with them have received remuneration or reimbursement of expenses during the year. ## **NOTE 13 – RELATED PARTY TRANSACTIONS** There were no transactions with other charities during the year that are considered to be related by reason of management influence or by having at least one trustee in common. 21 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 14 – MOVEMENT ON FUNDS IN THE YEAR** Balances Direct Transfers Balances **Year ended 31 March 2021** brought Incoming outgoing between carried forward resources resources funds forward £ £ £ £ **Unrestricted** General fund **14,575 10,428 (11,084) 242 14,161** Designated funds: - Building management **47,129 (3,503) 43,626** - Occupancy **749 185 (2,233) 1,299 -** - Family support **211 211** - Staff rationalisation **80,801 (9,030) 71,771** - Outaskool adventures **(19,474) (4,541) 24,015 -** - Little Barn Owls **17 33,498 (24,289) (9,012) 214** - Day care **23,158 157,862 (98,848) (13,394) 68,778** - Crèche **(5,790) (90) 5,880 - ——————— ——————— ——————— ——————— ——————— 141,376 201,973 (144,588) - 198,761 ——————— ——————— ——————— ——————— ——————— Restricted** - Magpies Pre-school **343 142,545 (113,441) 29,447** - Early year education **647 190,040 (145,589) 45,098** - Little Barn Owls Early Year Education Funding **707 139,875 (124,134) 16,448** - Meal grants **3,987 (2,508) 1,479** - CJRS and SSP **176,677 (176,677) -** - Covid-19 fund **13,888 (13,888) - ——————— ——————— ——————— ——————— ——————— 1,697 667,012 (576,237) - 92,472 ——————— ——————— ——————— ——————— ——————— £143,073 £868,985 £(720,825) £ - £291,233 ═══════ ═══════ ═══════ ═══════ ═══════** 22 **OAKTREE FAMILY GROUP LTD** (Limited by Guarantee) ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 14 – MOVEMENT ON FUNDS IN THE YEAR** (continued) Balances Direct Transfers Balances Year ended 31 March 2020 brought Incoming outgoing between carried forward resources resources funds forward £ £ £ £ Unrestricted General fund 2,516 3,926 (10,207) 18,340 14,575 Designated funds: - Building management 67,126 (19,997) 47,129 - Occupancy 1,813 2,986 (16,050) 12,000 749 - Family support 151 60 211 - Staff rationalisation 93,804 (13,003) 80,801 - Outaskool adventures 1,326 44,019 (69,854) 5,035 (19,474) - Little Barn Owls 1,220 51,747 (69,298) 16,348 17 - Day care 61,445 267,316 (206,727) (98,876) 23,158 - Crèche 490 1,156 (7,092) (344) (5,790) ——————— ——————— ——————— ——————— ——————— 229,891 371,210 (399,225) (60,500) 141,376 ——————— ——————— ——————— ——————— ——————— Restricted - Magpies Pre-school 8,125 162,664 (188,946) 18,500 343 - Early year education 342 202,283 (241,978) 40,000 647 - Little Barn Owls Early Year Education Funding 12,306 147,849 (161,448) 2,000 707 - Little Barn Owls 20 (20) - - Magpies 114 (114) - ——————— ——————— ——————— ——————— ——————— 20,773 512,930 (592,506) 60,500 1,697 ——————— ——————— ——————— ——————— ——————— £250,664 £884,140 £(991,731) £ - £143,073 ═══════ ═══════ ═══════ ═══════ ═══════ 23 ## **OAKTREE FAMILY GROUP LTD (Limited by Guarantee)** ## **NOTES TO THE ACCOUNTS** ## **31 March 2021** ## **NOTE 15 – ANALYSIS OF NET ASSETS BETWEEN FUNDS** |




|**Year ended 31 March 2021**
**Unrestricted**
General fund
Designated funds:
Building management
Occupancy
Family support
Staff rationalisation
Outaskool adventures
Little Barn Owls
Day Care
Crèche



**Restricted**
Magpies Pre-School
Early year education
Little Barn Owls Early Year Education Funding
Meal grant
CJRS and SSP
Covid-19 fund



**ACCUMULATED FUNDS AT 31 MARCH 2021 £**
|Fixed
assets
£
**1,518**
**9,907**
**261**



**964**
**7,157**

**——————**
**19,807**
**——————**
**2,238**
**3,749**
**1,195**



**——————**
**7,182**
**——————**
**26,989**
**══════**|Net current Net
assets assets
£ £
**12,643 14,161**
**33,719 43,626**
**(261) -**
**211 211**
**71,771 71,771**
-
**(750) 214**
**61,621 68,778**
-
**——————— ———————**
**178,954 198,761**
**——————— ———————**
**27,209 29,447**
**41,349 45,098**
**15,253 16,448**
**1,479** **1,479**
-
-
**——————— ———————**
**85,290 92,472**
**——————— ———————**
**£264,244 £291,233**
**═══════ ═══════**| |---|---|---|---| 24 ## **OAKTREE FAMILY GROUP LTD (Limited by Guarantee)** ## **NOTES TO THE ACCOUNTS** ## **31 March 2020** ## **NOTE 15 – ANALYSIS OF NET ASSETS BETWEEN FUNDS** (continued) |





|Year ended 31 March 2020
Unrestricted
General fund
Designated funds:
Building management
Occupancy
Family support
Staff rationalisation
Outaskool adventures
Little Barn Owls
Day Care
Crèche



Restricted
Magpies Pre-School
Early year education
Little Barn Owls Early Year Education Funding
Little Barn Owls
Magpies



ACCUMULATED FUNDS AT 31 MARCH 2020 £
|Fixed
assets
£
2,026
13,210
323


473
1,142
9,182
104
——————
26,460
——————
2,873
4,725
634


——————
8,232
——————
34,692
══════|Net current Net
assets assets
£ £
12,549 14,575
33,919 47,129
426 749
211 211
80,801 80,801
(19,947) (19,474)
(1,125) 17
13,976 23,158
(5,894) (5,790)
——————— ———————
114,916 141,376
——————— ———————
(2,530) 343
(4,078) 647
73 707
-
-
——————— ———————
(6,535) 1,697
——————— ———————
£108,381 £143,073
═══════ ═══════| |---|---|---|---| 25