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REGISTERED COMPANY NUMBER: 05347511 (England and Wales) REGISTERED CHARITY NUMBER: 1108509
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2020
for
Trojans Scheme
Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
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Contents of the Financial Statements for the Year Ended 31 December 2020
| Page | |||
|---|---|---|---|
| Chair's Report | 1 | ||
| Report of the Trustees | 2 | to | 8 |
| Independent Examiner's Report | 9 | ||
| Statement of Financial Activities | 10 | ||
| Balance Sheet | 11 | ||
| Cash Flow Statement | 12 | ||
| Notes to the Cash Flow Statement | 13 | ||
| Notes to the Financial Statements | 14 | to | 18 |
| Detailed Statement of Financial Activities | 19 |
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Trojans Scheme
Chair's Report
for the Year Ended 31 December 2020
I write my report as Chair as we emerge from the most challenging period of eighteen months in this charity's twenty five year history. The coronavirus pandemic, multiple periods of 'lockdown' and closures of school settings for long periods have had a significant effect on this organisation, its people, and the whole sector in which we operate.
Our service users are young people and, for them, life has been led in the most extraordinary way during this period of wide-sweeping restrictions to normal activities, repeated suspensions of face-to-face schooling and the removal of opportunities for social interaction and structured play with their friends and peer groups. We are only too well aware of the responsibilities we have, to support the young people at our clubs and to contribute to a return to normality to their lives.
This is an incredible charity with a wonderful and dedicated staff team. They have shown extraordinary resilience during such testing times, have weathered enforced 'furlough' and have bounced back, getting our clubs reopened and children and their parents welcomed - they have excelled and we are all very proud of their achievement.
Despite the challenges of the last eighteen months, and those that lie ahead, we continue to maintain a strong focus on the high standards and affordability of our provision to our service users. Our hard-working head office and staff teams ensure that we provide many safe, fun and friendly Breakfast Clubs, After School Clubs and Holiday Play schemes across a number of settings.
During the year under review, the Covid restrictions limited us to effectively only six months of 'normal' operations. Despite this, we were still able to provide over 2,000 places and over 4,500 hours of play per week, supporting many families and ensuring that their children were well looked after by dedicated and experienced playworkers. Enhancing & enriching the before and after school play experience for our service users is what we do incredibly well. We invest in and train our people to be the very best they can be and it is they who make Kids' City a leading provider in our sector.
The accounts, which follow in this Annual Report, show a year of continued delivery of what Kids' City does best against a backdrop of challenges both financial and operational. The resilience and proactivity of our management team, so ably supported by the Board of Trustees and our external finance advisers, put us on path of regular assessments, financial updates, in-depth discussions and actions to safeguard the continued employment of our staff colleagues during long periods of furlough; all to ensure that the doors could and would reopen.
We remain responsible and rapidly responsive with our financial management. The challenges of the year, covered in more detail by Head of Service's report, gave us a disappointing but anticipated operating deficit of £56,077 (2019 - £56,468). The level of reserves, which we carried forward into 2021, were within reach of our 'target' of at least three month's expenditure but these have been further diminished by the return of 'lockdowns' and closures of educational settings in the early part of 2021.
Our strategy has to remain as reducing central costs wherever possible, maintaining a fair and flexible approach to fees and putting the maximum resources into our charitable activities, as we receive no statutory funding. We recognise that many of the families we support face difficult financial times and we do not underestimate the broad social value we deliver to the parents, families of the children and the communities we serve.
We know that Kids' City continues to have an incredible and positive impact on the lives of the children who are entrusted to us. Our provision, across our range of settings, meets well or exceeds Ofsted's requirements and the organisation works actively and tirelessly to maintain high standards and quality of delivery.
Our CEO Jeremy Sandell retired a few months after the end of the year to which this report relates. We thank him for all his achievements and dedicated service during his time with us and wish him every success in his new post. We were delighted that James Jalloh stepped up to be our new 'Head of Service' and he, ably supported by our hard-working Head office team and our outstanding teams of practitioners, is leading on our progress towards recovery and the realisation of future opportunities; our entire team are central to the work of the charity and, on behalf of the Board, I thank them all for their excellent contribution.
As ever, the governance, both charitable and financial, of this organisation rests with the Board of Trustees. My colleagues bring unwavering commitment, energy, skills and expertise and I thank them all, both individually and collectively, for all that they have done to safeguard the charity during this most difficult of periods and for what they are now doing to guide the recovery and future of Kids' City.
Nick Mason OBE FRSA
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2020
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
Charitable aims
The charitable aims of Kids' City, as set out in its governing document are: "To advance the education of school age children through the provision of educational, play and recreational activities especially those that help develop their physical, intellectual and creative potential such that they may grow to full maturity as individuals and members of society".
Statement of purpose
1. Why we exist
Kids' City was founded in 1995 in response to both a lack of affordable childcare and a safe, inclusive and stimulating playing environment for children in inner city London.
Since then, we have grown and currently support an average of 300 children daily, providing families with affordable and flexible childcare.
2. Who we are
We have a committed team of staff, volunteers and Trustees, who are passionate about improving outcomes for children. We are a pioneering social enterprise, almost entirely funded by parents' fees.
3. Our approach
a) Provide play, recreational and educational activities for school-age children through breakfast, after-school and holiday clubs.
b) Provide volunteering opportunities and employ the skills and time our volunteers are prepared to offer. In doing so, we help build skills of generations of young volunteers in South London.
c) As leaders in our field, we share our knowledge and expertise through contributing to local and national policy-making, while delivering training and development courses for young people and adults.
d) Being a listening and learning organisation that consults regularly with our service users, staff and volunteers so that we can improve what we do, daily.
Meeting the Public Benefit
The need for safe, flexible and affordable play activities is essential to the well-being of children and often to the economic stability of families. Nowhere is that more important than in urban areas where play space is often not accessible to young children and where pressures on families overall are greater. Kids' City includes work in a wide range of socio-economic environments including some of the most disadvantaged communities in the country.
Attending an after school club, breakfast club or holiday club ensures that parents know their children are safe and well-cared for in professional, regulated play environments. In addition, access to meaningful, child-led play opportunities promote physical and mental wellbeing for children. Safe, welcoming spaces for children before and after school and during the school holidays can alleviate tensions created by factors including poor housing and limited access to outdoor spaces, crime and gang culture or other social issues.
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2020
THE YEAR IN FOCUS
Introduction
The impact of Covid-19, multiple 'lockdowns' and suspensions of education settings have affected Kids' City, in as much as the organisation has lost revenue for a substantial period as all our services were closed. We were able to take advantage of the Government Furlough scheme, which helped offset losses, but Kids' City's twenty-fifth year of operation was still one of considerable financial challenges.
With changes to the number of clubs and children attending them, Kids' City has restructured our core and support services to reduce costs and, in the latter part of the year, this was beginning to yield positive effects.
Nevertheless, the fact that there was an operating deficit of over £56,000, as Kids' City kept session prices at the same rate as the previous year and invested in the ongoing development and training of our qualified staff teams, demonstrates the long-term need to reduce overheads and ensure that all of our clubs are independently financially sustainable.
From September 2019, there was a change in the way that Ofsted inspects 'out of school' childcare services and during 2020 only one of our clubs was inspected by Ofsted. In February 2020 Kids' City at Woodmansterne received a grade of 'Met'. Under the new Ofsted regulations, 'Met' is the highest grade we can receive, and demonstrates the excellence of the team and the service offered to children and parents.
Kids' City relies on club fees for the great majority of income. During 2020 a marked downturn in financial results with an overall deficit over £56,000 occurred, in which the Covid Pandemic and associated 'lockdowns' paid a significant role. The financial performance improved again from September 2020 as attendances grew at a number of clubs and the reduced office team showed a corresponding decrease in costs. However following another 'lockdown' in early 2021, our finances were again negatively affected, resulting in further draws against our reserves.
During 2020 the number of play opportunities Kids' City provided was greatly impacted by the Covid pandemic. We were, however, still able to provide 2000 places a week, thus supporting families through the provision of safe and affordable out of school care. Opportunities for physical, exploratory and imaginative play are harder to access for children from inner cities, Kids' City's professional play workers and interns enabled children to benefit from over 4500 hours of play a week when we were able to be open in 2020. Since 2013 over 90% of Kids' City income has come directly from parents whose children use our service. Nevertheless we work hard to ensure that all children are able to access play opportunities; around 2% of the children are able to access free places whilst for many more parents, working tax credits, childcare vouchers and other government financial schemes can enable the cost of a three hour session to be as little as £5.00 for the family. In addition Kids' City offers a free childcare place for people volunteering with the organisation.
Alongside our regular after school services, we also provide short notice and emergency provision. Kids' City Superheroes service ensures that children can be collected from school at short notice when a parent finds themselves unable to get to school in time. In 2020, Kids' City Superheroes came to the rescue on a regular basis with a year on year reduction offset by a growth in the number of regular bookings. The numbers of parents that continue to use this option demonstrates an ongoing need for this flexible alternative to our regular services. The continuing benefits of the Superheroes service include giving parents peace of mind and providing a safe, secure play environment for their children.
Centres
During the year Kids' City provided after school clubs at a total of eleven schools in three London Boroughs: Lambeth, Merton and Wandsworth and also in Wokingham.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2020
Our largest clubs have as many as 60 children attending on a daily basis, whilst others, often in new and growing schools, have smaller numbers of children. Whatever the size of each club Kids' City promotes a safe, friendly and fun environment where children of different ages are given opportunities to express themselves through play. Qualified playworkers and managers at each club work with colleagues and the children to develop a flexible programme of creative, imaginative and physical play, leading to the development of a wide range of skills. Overall attendance at clubs remained steady through the year, were providing approximately 1,300 sessions per week at after school clubs and 600 places per week at Breakfast Clubs when we were operating. The growing demand for Breakfast Club places demonstrates the increasing need for out of schools services for parents at the beginning of the working day.
Stanford closed due to low numbers and staff were able to be relocated. Floreat Woking was taken in house and the staff were offered positions by the school under TUPE. Tooting decided to use another provider.
Kids' City is proud of the close relationship with parents and with schools. During the year we regularly supported families at times of crisis by providing short term and emergency support through our Superheroes service and working with partner schools to provide additional support for families in need. In 2020 Kids' City provided this type of support to families on a regular basis when operating.
Holiday Clubs
Due to Lockdown Kids' City was unable to run Holiday Clubs during the summer but we ran successful Playschemes at Easter and October. Our Holiday Clubs provide a safe, fun environment for children from 8.00am to 6.00pm on each working day.
RISK MANAGEMENT
The Board of Trustees and the Head of Service (previously the Chief Executive) are responsible for risk management. Kids' City maintains a Risk Register which is closely monitored.
Our current priorities are:
1. Child Welfare
Kids' City provides breakfast and after school clubs for approximately 300 children each day across a number of sites as well as Playschemes during most major holidays. As well as the risk that something could happen to a child or children whilst they are in Kids' City's care there are also risks related to possible failures by Kids' City to respond effectively to allegations or disclosures.
Key controls:
a. Kids' City has safeguarding policies in place that were reviewed in 2020 to ensure that they are fit for purpose; b. Kids' City employs senior operational staff, including the Head of Service and Centre Managers who are qualified and experienced sector professionals;
c. Kids' City ensures that all staff, volunteers and interns working with children are recruited following safe recruitment guidelines, including DBS checks and references;
d. Kids' City ensures that all staff, volunteers and interns working with children receive appropriate training and support to meet the requirements of their roles.
2. Finance
Kids' City is a registered charity and company limited by guarantee. In recent years statutory funding that historically supplemented parents' contributions has reduced and the organisation is now effectively a commercial not-for-profit business. Kids' City has an ongoing need to ensure the viability of this model in order to meet our charitable purpose of providing fun, safe play opportunities for children.
Key Controls:
a. Kids' City has financial procedures in place that are regularly reviewed to ensure that they are fit for purpose;
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2020
b. Kids' City's Board of Trustees has a finance sub-committee led by the Treasurer who is a qualified and experienced finance professional. The Finance sub-committee oversees all aspects of financial planning and monitoring and reports to the full Board;
c. The Head of Service prepares an annual budget and monthly management accounts are also prepared to ensure financial compliance and monitoring systems are in place. Fees for services are reviewed annually at the beginning of the academic year;
d. Strict budgetary controls have ensured that Kids' City's overall financial position has seen a surplus in four of the last six years.
3. Operations
The majority of Kids' City's activity is regulated for children under five by Ofsted. The implications of a Kids' City afterschool club receiving an unfavourable rating from Ofsted can range from reduced attendance undermining the financial viability of a club to the termination of a partnership agreement from the host school and in some cases the registration being withdrawn or prosecution. In addition Kids' City's operational support model is based on a critical mass of centres and bookings which rely on appropriate staffing ratios to safely support the children present.
Key Controls:
a. Kids' City undertake 'Ofsted Ready' pre-inspection visits at all clubs annually and in advance of anticipated inspection dates;
b. It is a requirement of Centre Managers that their sites attain 'Met' at an Ofsted inspection. Managers are qualified and experienced sector professionals;
c. Centre Managers are required to regularly liaise with schools, including termly meetings with the Head teacher or delegated lead to maintain a positive relationship;
d. The Head of Service also maintains strategic communications with partner schools on matters outside the remit of Centre Managers.
4. Failure to Operate
Kids' City provides a daily service to hundreds of working parents. Within the model there is an emergency service and Kids' City clubs can generally be expected to operate on any day that the host school is open. If Kids' City were unable to operate at any sites on expected operating days the damage to reputation could result in loss of bookings or in extreme cases, termination of agreements with schools.
Key Controls:
a. Kids' City terms and conditions comprehensively detail arrangements for school closures;
b. The Head of Service and HR Assistant proactively and reactively manage staffing to ensure all sites are operational. In emergencies senior staff are also required to cover at sites;
c. The Administration team sends registers and updates to each club by text, email and hard copy as required.
5. Cyber Risk
Like most organisations Kids' City is increasingly reliant on technology to operate effectively. Booking and storage of children's information, dissemination of registers and staff sign-in and sign-out are examples of key functions that require access to operative ICT. Each site has connection to Head Office through smart phone technology. Kids' City requires robust alternatives to ICT to ensure multi-site operations in the event of ICT failure.
Key Controls:
a. Kids' City contracts IT support to a specialist provider. In addition key Kids' City staff and Departments (Finance and HR) have smart phones with internet capability;
b. Key technologies, notably the booking system are web-based making them more secure than a server hosted system; Confidential information is either self-entered by the user (children's information) or not accessed by Kids' City staff (bank details for termly bookings);
c. Alternative technologies (e.g. texts and paper copies) are used to disseminate information as required.
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2020
FINANCIAL REVIEW
In 2020 we received income of £594,070 (including Job Retention Scheme payments of £203,595) and expended £650,147, the second year in the last eight that the charity has registered a deficit.
As at 31 December 2020 our reserves stood at £100,380. Whilst our reserves policy remains to hold reserves equal to three months expenditure, given our current financial position we aim to replenish our reserves in a manner which doesn't undermine our ability to deliver services.
In response to the continuing need for play opportunities and the demand for our services from families Kids' City has transitioned from a position where Local Authorities were the primary source of income to a financial model that relies almost solely on parents' contributions. Parents are either able to make a termly regular booking or access an ad hoc or emergency service that enables bookings to be made up to 3.00pm on the day of the booking.
Parents are also able to directly access financial support from the Government in a number of ways including Tax Credits, universal benefits and childcare voucher schemes. Parents of children who are eligible for the school Pupil Premium can also access one session each week at a significantly reduced charge. As a result of financial restructuring over recent years Kids' City continues to provide a sustainable resource across multiple sites that offers good value to parents compared to other options including childminders and private sector alternatives.
We have continued to focus on financial monitoring and have strong controls in place. Examples of these include: - Strong financial expertise on our Board of Trustees, with three of our Trustees being Chartered Accountants. - Full management accounts, including balance sheets, are prepared on a monthly basis and reviewed at monthly conference calls for the Finance Trustee sub-committee.?- Monitoring our booking pipeline and income collection on a regular basis.
In March 2021, the Trustees authorised an application for £50,000 to the Government's Bounce Back Loan Scheme, as a precautionary measure. This was received in April 2021.
The Trustees are satisfied that our recovery plan to financial health, current cash position and the robust financial controls are sufficient for the Charity to remain an effective going concern at the time of this report.
STAFF REMUNERATION
The Trustees review all staff salaries, including those of the key management personnel, and Head of Service periodically. Members of the Finance Sub-Committee make recommendations to the Board for decision. Employee remuneration was last reviewed in June 2019.
LOOKING AHEAD INTO 2021
Covid and the subsequent lockdowns have continued to affect Kids' City in 2021, in as much as the organisation has continued to lose revenue due to 'lockdown' for a substantial period as all our services were closed. We were able to take advantage of the Government's Job Retention scheme, which helped offset losses in operating revenues. As a result of Covid, our service at Jubilee did not reopen. The school allowed us to survey parents and the requested usage made the service non-viable and staff members were made redundant.
Both of the Henry Cavendish sites were taken over by the school, which meant that seven staff left Kids' City in July 2021 and were taken on by the school under TUPE. Belleville Wix Academy chose to end the service and as a result we made redundancies. Service at St Georges was closed due to numbers making the service non-viable; we were able to relocate a staff member but had to make the other staff member redundant. The proposed service at Christ Church also had to be withdrawn, as we were unable to commit to the service based on projected low usage and the timing of the proposed start date.
At the start of the 2021/22 academic year we reopened Breakfast Club at Floreat Wandsworth; this had been closed since the easing of lockdown but we and the school recognised that we needed to provide this service again.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2020
New Breakfast Club and After School Club services opened at Reay Primary School at the start of the 2021/22 Academic year, as a result of the school approaching us. We were able to make this happen swiftly due to a strong and positive working relationship with Ofsted.
We also were able to run a successful summer Playscheme at Woodmansterne and have committed to running schemes at October, Easter, May Half Term and summer 2022.
PEOPLE
We currently have 27 site based staff. Our teams of practitioners comprise qualified and experienced managers and playworkers.
Head office staff comprise our Head of Service, Finance Coordinator, HR Coordinator, and Administration Coordinator. We also utilise a volunteer to help with administration and we have a Business & Finance Intern from Westminster University from the end of September until the end of December 2020 and a Marketing Intern and Playwork intern for the same period. This enables us to support office and site functions and promote the service at a nominal cost.
We have recently launched a new Website with professional input from a former colleague, who understands the organisation and is able to assist us with a cost effective service.
GROWTH
Moving forwards from the period of the pandemic restrictions, we will be working with our host schools to increase attendance at sites and fully utilise available capacity.
We are also identifying and responding to new opportunities at schools and our revamped website will assist our focus on marketing our services. As schools seek new sources of revenue many are taking on 'out of school services' in-house but others are re-evaluating their existing external providers, which presents opportunities.
The advantages of external providers to schools are that the school does not meet recruitment, insurance and resources costs, and does not need to provide qualified staff and administration support.
Affordability varies throughout the borough and to an extent is the main driver when choosing an external provider. Kids' City is positioned as a 'preferred choice' based on our high levels of Experience, Quality, Consistency and Qualification.
The ability to increase take up places in our existing sites and activity to identify new services is key to the sustainability of the organisation.
Risk factors are minimised by all staff having appropriate qualifications and a robust system of monitoring performance. There are also clear policies around working within a Covid landscape that are updated as guidelines change.
The ability to increase take up of users in our existing sites and identify new services is key to the sustainability of the organisation.
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trojans Scheme, trading as Kids' City (hereafter known as Kids' City) is a registered charity, number 1108509 and was incorporated as a limited company on 31 December 2004.
The articles of association provides for a minimum of four Trustees and a maximum of nine. One third (or the number nearest one third) of the Trustees must retire at each AGM, with those longest in office retiring first. A retiring Trustee is eligible for reappointment. New Trustees are elected by members each year at the annual general meeting.
Trustees hold full committee meetings at least four times a year, with additional sub-committee meetings held for specialist matters, such as finance, as required. At the quarterly Trustee committee meetings, the Trustees agree the broad strategy and areas for activity for the charity, including consideration of investments, fund raising, fee setting, reserves, risk management and performance. Day to day decisions regarding the operation of the charity during the year were delegated to the Chief Executive, Jeremy Sandell, including the authority to incur expenditure, or enter contracts, for items up to £10,000.
An annual Trustee away day is held to provide appropriate training to Trustees on their responsibilities. An induction is provided to new Trustees, which includes an opportunity to visit one of the after school clubs and access to historic committee and sub-committee papers.
All Trustees give their time freely and no Trustee remuneration was paid in the year.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05347511 (England and Wales)
Registered Charity number
1108509
Registered office
1-4 Brixton Hill Place London SW2 1HJ
Trustees
N Mason OBE (Chair) C Aldridge (Deputy Chair) Y Johnson (Joint Hon. Treasurer) N J Soulsby (Joint Hon. Treasurer) A R Penfold S Tynan
Karen Wilson has also been co-opted to the Board of Trustees, but is not a Company Director.
Independent Examiner
Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
����������������� Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ N Mason - Trustee
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Independent Examiner's Report to the Trustees of Trojans Scheme
Independent examiner's report to the trustees of Trojans Scheme ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your 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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Paul J Chamberlain ICAEW Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
����������������� Date: .............................................
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Trojans Scheme
Statement of Financial Activities for the Year Ended 31 December 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 2 Playschemes and training 390,475 Other income 203,595 Total 594,070 EXPENDITURE ON Charitable activities 3 Playschemes and training 650,147 NET INCOME/(EXPENDITURE) (56,077) RECONCILIATION OF FUNDS Total funds brought forward 156,457 TOTAL FUNDS CARRIED FORWARD 100,380 |
Restricted fund £ - - - - - - - |
31.12.20 31.12.19 Total Total funds funds £ £ 390,475 829,702 203,595 4,143 594,070 833,845 650,147 890,313 (56,077) (56,468) 156,457 212,925 100,380 156,457 |
|---|---|---|
The notes form part of these financial statements
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Trojans Scheme
Balance Sheet
31 December 2020
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 5,218 CURRENT ASSETS Debtors 10 35,075 Cash in hand 138,003 173,078 CREDITORS Amounts falling due within one year 11 (77,916) NET CURRENT ASSETS 95,162 TOTAL ASSETS LESS CURRENT LIABILITIES 100,380 NET ASSETS 100,380 FUNDS 12 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - |
31.12.20 Total funds £ 5,218 35,075 138,003 173,078 (77,916) 95,162 100,380 100,380 100,380 100,380 |
31.12.19 Total funds £ 6,957 14,781 230,595 245,376 (95,876) 149,500 156,457 156,457 156,457 156,457 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ����������������� ............................................. and were signed on its behalf by:
............................................. N Mason - Trustee
The notes form part of these financial statements
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Trojans Scheme
Cash Flow Statement for the Year Ended 31 December 2020
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.12.20 £ (92,592) (92,592) - - - (92,592) 230,595 138,003 |
31.12.19 £ (37,829) (37,829) (6,200) 4,639 (1,561) (39,390) 269,985 230,595 |
|---|---|---|
The notes form part of these financial statements
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Trojans Scheme
Notes to the Cash Flow Statement for the Year Ended 31 December 2020
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Increase in debtors (Decrease)/increase in creditors Net cash used in operations |
31.12.20 £ (56,077) 1,739 (20,294) (17,960) (92,592) |
31.12.19 £ (56,468) 2,319 (1,540) 17,860 (37,829) |
|---|---|---|
- ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.20 | Cash flow | At 31.12.20 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 230,595 | (92,592) | 138,003 |
| 230,595 | (92,592) | 138,003 | |
| Total | 230,595 | (92,592) | 138,003 |
The notes form part of these financial statements
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Notes to the Financial Statements
for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on cost Plant and machinery - 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Going concern
The financial statements have been prepared on a going concern basis after taking into account the current risks relating to COVID-19 as the Trustees have determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
2. INCOME FROM CHARITABLE ACTIVITIES
| 31.12.20 Activity £ Fee and grant income Playschemes and training 390,475 3. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 4) £ £ Playschemes and training 407,537 242,610 4. SUPPORT COSTS Governance Management costs £ £ Playschemes and training 235,461 7,149 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.12.20 £ Depreciation - owned assets 1,739 |
31.12.19 £ 829,702 |
|---|---|
| Totals £ 650,147 |
|
| Totals £ 242,610 |
|
| 31.12.19 £ 2,319 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
7. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Playscheme staff Administrative staff |
31.12.20 £ 542,996 542,996 31.12.20 41 6 47 |
31.12.19 £ 643,513 |
|---|---|---|
| 643,513 | ||
| 31.12.19 40 6 46 |
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2020
7. STAFF COSTS - continued
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
£60,001 - £70,000
| 31.12.20 | 31.12.19 |
|---|---|
| 1 | 1 |
The key management personnel of the charity comprise the Trustees, the Chief Executive Officer and the Head of Operations. The total employee benefits of the key management personnel of the charity were £101,766 (2019 : £104,612).
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Playschemes and training 829,702 Other income 4,143 Total 833,845 EXPENDITURE ON Charitable activities Playschemes and training 890,313 NET INCOME/(EXPENDITURE) (56,468) RECONCILIATION OF FUNDS Total funds brought forward 212,925 TOTAL FUNDS CARRIED FORWARD 156,457 |
Restricted fund £ - - - - - - - |
Total funds £ 829,702 4,143 833,845 890,313 (56,468) 212,925 156,457 |
|---|---|---|
continued...
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Notes to the Financial Statements - continued for the Year Ended 31 December 2020
9. TANGIBLE FIXED ASSETS
| Improvements to property £ COST At 1 January 2020 and 31 December 2020 19,479 DEPRECIATION At 1 January 2020 19,479 Charge for year - At 31 December 2020 19,479 NET BOOK VALUE At 31 December 2020 - At 31 December 2019 - 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments and accrued income 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Deferred income Accrued expenses 12. MOVEMENT IN FUNDS At 1.1.20 £ Unrestricted funds General fund 156,457 TOTAL FUNDS 156,457 |
Plant and machinery £ 12,110 5,153 1,739 6,892 5,218 6,957 31.12.20 £ 1,056 34,019 35,075 31.12.20 £ 2,835 6,397 2,390 41,317 24,977 77,916 Net movement in funds £ (56,077) (56,077) |
Totals £ 31,589 24,632 1,739 26,371 5,218 6,957 31.12.19 £ 3,588 11,193 14,781 31.12.19 £ 1,931 9,510 1,471 71,039 11,925 95,876 At 31.12.20 £ 100,380 |
Totals £ 31,589 |
|---|---|---|---|
| 24,632 1,739 |
|||
| 26,371 | |||
| 5,218 | |||
| 6,957 | |||
| 100,380 |
continued...
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Trojans Scheme
Notes to the Financial Statements - continued
for the Year Ended 31 December 2020
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 594,070 TOTAL FUNDS 594,070 Comparatives for movement in funds At 1.1.19 £ Unrestricted funds General fund 212,925 TOTAL FUNDS 212,925 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 833,845 TOTAL FUNDS 833,845 |
Resources Movement expended in funds £ £ (650,147) (56,077) (650,147) (56,077) Net movement At in funds 31.12.19 £ £ (56,468) 156,457 (56,468) 156,457 Resources Movement expended in funds £ £ (890,313) (56,468) (890,313) (56,468) |
|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2020.
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Trojans Scheme
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 December 2020 | ||
| 31.12.20 | 31.12.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Charitable activities | ||
| Fee and grant income | 390,475 | 829,702 |
| Other income | ||
| Consultancy and other income | 203,595 | 4,143 |
| Total incoming resources | 594,070 | 833,845 |
| EXPENDITURE | ||
| Charitable activities | ||
| Staff costs | 371,049 | 438,319 |
| Premises costs | 11,356 | 22,367 |
| Insurance | 1,763 | 2,441 |
| Sundries | 1,798 | 8,212 |
| Volunteer costs | - | 29,657 |
| Equipment and activities | 7,799 | 13,091 |
| Snacks and drinks | 13,772 | 33,848 |
| 407,537 | 547,935 | |
| Support costs | ||
| Management | ||
| Staff costs | 171,947 | 205,194 |
| Head office costs | 61,775 | 127,015 |
| Depreciation | 1,739 | 2,319 |
| 235,461 | 334,528 | |
| Governance costs | ||
| Accountancy and legal fees | 4,963 | 4,508 |
| Bank charges and interest | 2,186 | 3,342 |
| 7,149 | 7,850 | |
| Total resources expended | 650,147 | 890,313 |
| Net expenditure | (56,077) | (56,468) |
This page does not form part of the statutory financial statements
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