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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 2021
for
Trojans Scheme
Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB
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Trojans Scheme
Contents of the Financial Statements for the Year Ended 31 December 2021
| 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 | to | 12 |
| Cash Flow Statement | 13 | ||
| Notes to the Cash Flow Statement | 14 | ||
| Notes to the Financial Statements | 15 | to | 19 |
| Detailed Statement of Financial Activities | 20 |
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Trojans Scheme
Chair's Report
for the Year Ended 31 December 2021
As with the previous financial year, ongoing social distancing and school closure restrictions, brought in by Government to tackle the coronavirus pandemic, limited our capacity to return to 'normal' service levels for much of the first half of the period which this report covers. Despite this, we were able to build back to over 2,000 places and over 4,500 hours of play per week by the end of the year.
Our service users are young people and, for them, life had been led in the most extraordinary way during that long period of wide-sweeping restrictions to normal activities, suspensions of face-to-face schooling and the removal of opportunities for social interaction and structured play with their friends and peer groups. Our clubs were happily fully reopened from Easter 2021 and welcomed back children and their parents
We are very aware of the responsibilities we have in supporting many families and ensuring that their children are well looked after by the outstanding teams of experienced play-workers at each of our breakfast and after school clubs. Enhancing & enriching the play experience for our service users is what we strive to do incredibly well. We know that we have a positive impact on their lives and deliver social benefit.
We invest in, encourage and train our staff colleagues to be the very best they can be and it is they who continue to make Kids' City a leading provider in our sector and push our standards ever higher. They are a wonderful, dedicated and hard working team - they excel daily and we are all very proud of their achievements and the recognition that Ofsted, as the statutory inspector of our services, gives them.
Despite the challenges of the last two years, 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.
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 our external finance advisers, has kept us on path of regular assessments, financial updates, in-depth discussions and actions to preserve the charity and its services.
Throughout this period, we have remained rapidly responsive with our financial management. The operating complexities brought by the pandemic, covered in more detail in the Trustees' report, gave us a disappointing but anticipated operating deficit of £66,929 (2020 - £56,077). The level of reserves, which we carried forward into 2022, were inevitably below our 'target' of at least three month's expenditure but these have now started to recover through the return of more normal operations, a clear focus on sustainable cost cutting and continuing to build revenue.
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.
As mentioned in my last annual report, our former CEO Jeremy Sandell retired a few months into this accounting period. Our new 'Head of Service, James Jalloh, very ably supported by our Head Office team and our outstanding team of practitioners, has brought us on swiftly with a strategy for financial recovery, refreshing our service and operations and rebranding our organisation to better reflect our expertise and impact. On behalf of the Board, I thank them all for their continuing and excellent contributions.
My thanks also, as ever, to all my colleagues on the Board of Trustees. They have done so much over the last two years to safeguard the charity during the most testing of times and to guide our future development. It is a privilege to work with them and to benefit from the commitment, energy, skills and expertise which they bring to the exercise of their charitable and financial governance.
Nick Mason OBE FRSA
September 2022
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2021
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 2021. 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 the Trojans Scheme, 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
The Charity 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. We include 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 2021
THE YEAR IN FOCUS
Introduction
The continuance of Government mandated coronavirus social distancing restrictions and the suspension of education settings in the first quarter of 2021 adversely affected the Charity, in as much as the organisation lost revenue for a further significant period as all our services were closed. We were able to take advantage of the Government Furlough scheme, which helped offset losses, but the Charity's twenty-sixth year of operation was still one of considerable financial challenge and carefully managed recovery planning. We also took advantage of a Government 'Bounce Back' loan of £50,000 to provide reassurance and medium term support to our balance sheet.
With changes to the number of clubs and children attending them, the Charity restructured it's 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 £66,000, as the Charity 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. 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. There were Ofsted inspections of our sites during the period under review.
The Charity relies on club fees for the great majority of income. During 2021 a marked downturn in financial results with an overall deficit over £66,000 occurred, resulting in further draws against our reserves, as a direct result of the Coronavirus Pandemic, School closures and associated 'lockdowns'. The financial performance started to improved again from Autumn 2021 as attendances grew at a number of clubs and the Head Office team concentrated on cost reductions .
During 2021, as in 2020, the number of play opportunities which the Charity provided was greatly impacted by the Covid pandemic. We were, however, still able to provide around 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, the Charity's professional play workers enabled children to benefit from over 4500 hours of play a week when we were able to be open. Since 2013 over 90% of the Charity's income has come directly from parents whose children use our services. 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, the Charity offers subsidised childcare places for staff and people volunteering with the organisation.
Alongside our regular after school services, we also provide short notice and emergency provision. The '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 2021, our '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
All the coronavirus related restrictions continued to affect the Charity in 2021, in as much as the organisation continued to lose revenue due to 'lockdown' for a substantial period as all our services were closed. We were able to continue to take advantage of the Government's Job Retention scheme, which helped offset losses in operating revenues. As a result of the pandemic, our service at Jubilee School did not reopen. The school allowed us to survey parents and the low level of requested usage made the service non-viable and staff members were made redundant.
Both the Henry Cavendish sites were taken over by the school, which meant that seven staff left the charity 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.
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2021
At the start of the 2021/22 academic year, we reopened the 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.
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.
At the end of year under review, the Charity was providing breakfast and after school clubs at a total of six school sites across three London Boroughs: Lambeth, Merton and Wandsworth.
Our largest clubs now have as many as 90 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, they promote a safe, friendly and fun environment where children of different ages are given opportunities to express themselves through play. Qualified play-workers 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 where 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.
We are 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 2021, the Charity provided this type of support to families on a regular basis when operating
Holiday Clubs
During periods of 'lockdown' we were unable to run Holiday Clubs, but these resumed once restrictions were lifted. Our Holiday Clubs are very popular, well subscribed and 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 are responsible for risk management. The Charity maintains a Risk Register which is closely monitored and regularly reviewed (the most recent review being in September 2022).
Our current priorities are:
- Child Welfare
The Charity 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 the Charity's care there are also risks related to possible failures to respond effectively to allegations or disclosures.
Key controls:
a. We have safeguarding policies in place that were reviewed in 2020 to ensure that they are fit for purpose; b. We employ senior operational staff, including the Head of Service and Centre Managers who are qualified and experienced sector professionals;
c. We ensure that all staff, volunteers and interns working with children are recruited following safe recruitment guidelines, including DBS checks and references;;
d. We ensures that all staff, volunteers and interns working with children receive appropriate training and support to meet the requirements of their roles.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2021
2. Finance
We are 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. We have 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. We have financial procedures in place that are regularly reviewed to ensure that they are fit for purpose; b. The 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 the Charity's overall financial position has seen a surplus in four of the last six years.
3. Operations
The majority of the Charity's activity is regulated for children under five by Ofsted. The implications of one of our 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 our 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. We 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
We provide a daily service to hundreds of working parents. Within the model there is an emergency service and our clubs can generally be expected to operate on any day that the host school is open. If we 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. Our 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, we are 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. The charity requires robust alternatives to ICT to ensure multi-site operations in the event of ICT failure.
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Trojans Scheme
Report of the Trustees
for the Year Ended 31 December 2021
Key Controls:
a. We contract IT support to a specialist provider. In addition key 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 our staff (bank details for termly bookings);
c. Alternative technologies (e.g. texts and paper copies) are used to disseminate information as required.
FINANCIAL REVIEW
In 2021, we received income of £476,410 (including Job Retention Scheme payments of £135,075) and expended £543,339, the third year in the last nine years that the charity has registered a deficit.
As at 31 December 2021 our reserves stood at £33,451 (2020 - £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. We had dropped below our 'target' reserves at 31 December 2021, but these have started to slowly recover during the following financial year.
In response to the continuing need for play opportunities and the demand for our services from families the Charity had transitioned some years ago 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 the charity 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, and an external Finance Director.?- 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.
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 will next be reviewed in February 2023.
LOOKING AHEAD INTO 2022
Much has been achieved in stabilising and securing the financial activities of the Charity as we emerge from two years of challenging circumstances brought about by the pandemic. Further focus on cost cutting has been successful and the Charity moved into significantly less expensive office accommodation in August 2022. Increasing capacity and building booking numbers at our sites, with further revenue increases, are under active discussion. The Board of Trustees are confident that the charity's future prospects are positive and that it remains as a 'going concern'.
We have decided to rebrand our trading style as "The Play Professionals" with effect from 1 September 2022 and retire the name "Kids' City", as we believe that the change better reflects our service and expertise and better positions us for marketing and some measured growth. Our statutory name remains as Trojans Scheme
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Trojans Scheme
Report of the Trustees for the Year Ended 31 December 2021
PEOPLE
We currently have close to 30 site based staff. Our teams of practitioners comprise qualified and experienced managers and play-workers.
Head office staff comprise our Head of Service, Finance Coordinator, HR Coordinator, and Administration Coordinator. We also utilise volunteers to help with administration and we have a longstanding relationship with Westminster University through which we support intern placements. Our interns usually provide valuable assistance in the areas of finance and business, marketing and play-work. This supports office and site functions and promotes the service at a nominal cost.
We have recently launched a new and rebranded Website with professional input from a former colleague, who understands the organisation and is able to assist us with a cost effective service.
GROWTH
Now that the charity has returned to full operations, after two years of pandemic disruptions, we are 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 rebranded and redesigned 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. We are 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 2021
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
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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 2021.
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. 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 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities Playschemes and training 341,335 Other income 135,075 Total 476,410 EXPENDITURE ON Charitable activities 3 Playschemes and training 543,339 NET INCOME/(EXPENDITURE) (66,929) RECONCILIATION OF FUNDS Total funds brought forward 100,380 TOTAL FUNDS CARRIED FORWARD 33,451 |
Restricted fund £ - - - - - - - |
31.12.21 31.12.20 Total Total funds funds £ £ 341,335 390,475 135,075 203,595 476,410 594,070 543,339 650,147 (66,929) (56,077) 100,380 156,457 33,451 100,380 |
|---|---|---|
The notes form part of these financial statements
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Trojans Scheme
Balance Sheet
31 December 2021
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 9 3,913 CURRENT ASSETS Debtors 10 14,022 Cash in hand 157,594 171,616 CREDITORS Amounts falling due within one year 11 (99,578) NET CURRENT ASSETS 72,038 TOTAL ASSETS LESS CURRENT LIABILITIES 75,951 CREDITORS Amounts falling due after more than one year 12 (42,500) NET ASSETS 33,451 FUNDS 13 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31.12.21 Total funds £ 3,913 14,022 157,594 171,616 (99,578) 72,038 75,951 (42,500) 33,451 33,451 33,451 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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.
The notes form part of these financial statements
continued...
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Trojans Scheme
Balance Sheet - continued 31 December 2021
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 2021 Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating 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 |
31.12.21 £ 19,591 19,591 19,591 138,003 157,594 |
31.12.20 £ (92,592) (92,592) (92,592) 230,595 138,003 |
|---|---|---|
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 2021
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 Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operations |
31.12.21 £ (66,929) 1,304 21,054 64,162 19,591 |
31.12.20 £ (56,077) 1,739 (20,294) (17,960) (92,592) |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.21 | Cash flow | At 31.12.21 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 138,003 | 19,591 | 157,594 |
| 138,003 | 19,591 | 157,594 | |
| Total | 138,003 | 19,591 | 157,594 |
The notes form part of these financial statements
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Trojans Scheme
Notes to the Financial Statements for the Year Ended 31 December 2021
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 2021
2. INCOME FROM CHARITABLE ACTIVITIES
| 31.12.21 Activity £ Fee and grant income Playschemes and training 341,335 3. CHARITABLE ACTIVITIES COSTS Support Direct costs (see Costs note 4) £ £ Playschemes and training 345,344 197,995 4. SUPPORT COSTS Governance Management costs £ £ Playschemes and training 191,031 6,964 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.12.21 £ Depreciation - owned assets 1,305 |
31.12.20 £ 390,475 |
|---|---|
| Totals £ 543,339 |
|
| Totals £ 197,995 |
|
| 31.12.20 £ 1,739 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
7. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Playscheme staff Administrative staff |
31.12.21 £ 439,200 439,200 31.12.21 40 4 44 |
31.12.20 £ 542,996 |
|---|---|---|
| 542,996 | ||
| 31.12.20 41 6 47 |
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
7. STAFF COSTS - continued
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
£60,001 - £70,000
31.12.21 31.12.20 - 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 £69,992 (2020 : £101,766).
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Charitable activities Playschemes and training 390,475 - Other income 203,595 - Total 594,070 - EXPENDITURE ON Charitable activities 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 - 9. TANGIBLE FIXED ASSETS Improvements to Plant and property machinery £ £ COST At 1 January 2021 and 31 December 2021 19,479 12,110 DEPRECIATION At 1 January 2021 19,479 6,892 Charge for year - 1,305 At 31 December 2021 19,479 8,197 NET BOOK VALUE At 31 December 2021 - 3,913 At 31 December 2020 - 5,218 |
Total funds £ 390,475 203,595 594,070 650,147 (56,077) 156,457 100,380 Totals £ 31,589 26,371 1,305 27,676 3,913 5,218 |
|---|---|
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
|---|---|---|---|---|---|---|
| 31.12.21 | 31.12.20 | |||||
| £ | £ | |||||
| Trade debtors | 3,201 | 1,056 | ||||
| Prepayments and accrued income | 10,821 | 34,019 | ||||
| 14,022 | 35,075 | |||||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||||
| 31.12.21 | 31.12.20 | |||||
| £ | £ | |||||
| Trade creditors | 20,799 | 2,835 | ||||
| Social security and other taxes | 6,067 | 6,397 | ||||
| Other creditors | 7,500 | 2,390 | ||||
| Deferred income | 49,156 | 41,317 | ||||
| Accrued expenses | 16,056 | 24,977 | ||||
| 99,578 | 77,916 | |||||
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE | YEAR | ||||
| 31.12.21 | 31.12.20 | |||||
| £ | £ | |||||
| Other creditors | 42,500 | - | ||||
| 13. | MOVEMENT IN FUNDS | |||||
| Net | ||||||
| movement | At | |||||
| At | 1.1.21 | in funds | 31.12.21 | |||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 100,380 | (66,929) | 33,451 | |||
| TOTAL FUNDS | 100,380 | (66,929) | 33,451 | |||
| Net movement in funds, included in the above are as follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 476,410 | (543,339) | (66,929) | |||
| TOTAL FUNDS | 476,410 | (543,339) | (66,929) |
continued...
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Trojans Scheme
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
13. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.20 £ Unrestricted funds General fund 156,457 TOTAL FUNDS 156,457 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 594,070 TOTAL FUNDS 594,070 |
Net movement At in funds 31.12.20 £ £ (56,077) 100,380 (56,077) 100,380 Resources Movement expended in funds £ £ (650,147) (56,077) (650,147) (56,077) |
|---|---|
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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| Trojans Scheme | ||
|---|---|---|
| Detailed Statement of Financial Activities | ||
| for the Year Ended 31 December 2021 | ||
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Charitable activities | ||
| Fee and grant income | 341,335 | 390,475 |
| Other income | ||
| Consultancy and other income | 135,075 | 203,595 |
| Total incoming resources | 476,410 | 594,070 |
| EXPENDITURE | ||
| Charitable activities | ||
| Staff costs | 309,172 | 371,049 |
| Premises costs | 11,744 | 11,356 |
| Insurance | 3,491 | 1,763 |
| Sundries | 1,045 | 1,798 |
| Equipment and activities | 7,701 | 7,799 |
| Snacks and drinks | 12,191 | 13,772 |
| 345,344 | 407,537 | |
| Support costs | ||
| Management | ||
| Staff costs | 130,028 | 171,947 |
| Head office costs | 59,699 | 61,775 |
| Depreciation | 1,304 | 1,739 |
| 191,031 | 235,461 | |
| Governance costs | ||
| Accountancy and legal fees | 5,238 | 4,963 |
| Bank charges and interest | 1,726 | 2,186 |
| 6,964 | 7,149 | |
| Total resources expended | 543,339 | 650,147 |
| Net expenditure | (66,929) | (56,077) |
This page does not form part of the statutory financial statements
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