Charity No. 1115952 Registered No. 05834536
STARTUPONLINE
(A Company Limited by Guarantee) Trustees Report and Unaudited Financial Statements 30th June 2023
STARTUPONLINE
(A Company Limited by Guarantee) Registered No. 05834536
DIRECTORS
P. Graham M. J. Hamilton (Deceased) S. O’Hara
TRUSTEES
P. Graham M. J. Hamilton (Deceased) S. O’Hara (Chair)
CHIEF EXECUTIVE
J. M. Hope
PRINCIPAL OFFICE
Bicester Innovation Centre Commerce House Telford Road Bicester OX26 4LD
REGISTERED OFFICE
6 Silvester Way Fleet GU52 0TD
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STARTUPONLINE
TRUSTEES’ REPORT
The Trustees, who are also directors of the company for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 June 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Memorandum and Articles of Association dated 6 June 2006 and in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
The charity also operates with the working name of “Startup” and projects have used “Startupnow”, for example the “Startupnow for Women” project.
Structure, governance and management
The charity is a company limited by guarantee; it was incorporated on 1 June 2006 and granted charitable status on 29 August 2006. The Trustees, who are also the directors for the purpose of company law, who served during the year were:
M. J. Hamilton (Trustee and Director) (Deceased) P. Graham (Trustee and Director) S. O`Hara (Chair of Trustees and Director)
The Trustee Board continues to provide strong support and guidance to the Charity as it delivers its current programme of work within “Breaking the Cycle” and continues to monitor the opportunities for further project work within the women ex-offender sector.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
New appointments are made by formal resolution at duly convened Trustee meetings. New Trustees receive a copy of the constitution and training is undertaken when considered appropriate. The Chief Executive reports to the Trustees on a regular basis and refers to them for all major decision making. The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Objectives and activities
The charity`s objective is to reduce re-offending by supporting women ex-offenders and prevent offending by supporting disadvantaged young women towards further education, employment or self-employment outcomes for the public benefit in such ways as may be thought fit.
The Trustees have paid due regard to Public Benefit guidance issued by the Charity Commission in deciding what activities the charity should undertake.
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STARTUPONLINE
TRUSTEES’ REPORT
Achievements and Financial Review
It has been a year of significant change for Startup. Apart from supporting final Breaking the Cycle participants to reach their goals, the focus of the charity, as planned, shifted from delivery towards the development of the proof of concept. The Trustees, led by Peggotty Graham, were integral to this work, which involved a more detailed evaluation of the outcomes and a template for potential rollout of the programme.
No grant applications were made over the year, as the remaining funds brought forward from last year were specifically designated to develop the proof of concept.
Income from donations for the year was £4,000 and grants retained (brought forward) for specific delivery for this year totalled £52,258. Total expenditure for the year was £54,441 which has left a total of £1,817 in current funds carried forward.
It remains the policy of the charity that unrestricted funds should be maintained at a level adequate to ensure that it can meet its liabilities as these fall due. The charity’s funding strategy has historically been securing grants for specific delivery, with none planned this year the funds will remain at a minimal level. The funds carried forward will be sufficient to cover any administrative liabilities that fall due this year so are deemed adequate. However, any future programme delivery or work on the proof of concept, will require funding to be secured for the specific activity.
This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Looking Forward
The next step for the charity will be to publish the proof of concept and template for dissemination across the sector, as well as potential funders. This will enable Startup to not only share best practice but also explore possibilities of scaling up Breaking the Cycle delivery.
The Trustees are supporting the CEO’s application for a Churchill Fellowship which would provide funding for overseas travel for collaborative work, publication of the proof of concept with sharing across the Fellows’ network once home.
Alongside these positive changes of direction for Startup, it is with great sadness to report the loss of the charity’s Chair of Trustees, Michael Hamilton, who died in July 2023. Michael’s invaluable support and guidance over 15 years has been at the heart of the charity’s success, he will be missed enormously.
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STATEMENT OF TRUSTEES’ AND DIRECTORS' RESPONSIBILITIES
The Trustees, who are also the directors of Startuponline for the purposes of company law, are responsible for the preparation of the Trustees Report and the accounts in accordance with applicable UK company law and accounting standards.
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TRUSTEES. REPORT & O'HA
STARTUPONLINE
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES For the period ended 30th June 2023
| Notes | 2023 | 2022 | |
|---|---|---|---|
| £ | £ | ||
| Income | |||
| Donations and legacies | 2 | 4,000 | 29,750 |
| Grants | 2 | - | 20,000 |
| –––––––––– | –––––––––– | ||
| 4,000 | 49,750 | ||
| Expenditure | |||
| Raising funds | - | - | |
| –––––––––– | –––––––––– | ||
| 4,000 | 49,750 | ||
| Charitable activities | 3 | 54,441 | 164,026 |
| –––––––––– | –––––––––– | ||
| Net income / (expenditure) and net movement in funds | (50,441) | (114,276) | |
| Total Funds brought forward | 52,258 | 166,534 | |
| –––––––––– | –––––––––– | ||
| Total Funds carried forward | 1,817 | 52,258 | |
| ––––––––––– | ––––––––––– |
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ReStrIcd No. 05834536 (A Conwany Limited by Gllarantee) STATEMENf OF FJI4ANCIAL posrrIoN At 3(th June 2023 2ff23 2022 Noies Cufmnt assets C&sh at bank & in band 2.430 54J89 613 2J31 1.817 52258 30.070 22.188 1.817 Tot•lftu 1817 52258 (b) Prepating AStiAncial sfatellts which give a true and fair view of the state of afftiirs of Il Cotnpany L8 at the end of its fillaTrcia] Frn(yl and of its &Kofit and 10&5 for the fiDaDcial 0d . cordance with section 396. and wbicb comply with the requirements of thc QympBui awilles SORP (FRS 102) s.o
STARTUPONLINE
(A Company Limited by Guarantee) STATEMENT OF CASH FLOWS At 30th June 2023
| Cash flows from operating activities Net income / (expenditure) per Statement of Financial Activities Adjustment for Depreciation Decrease / (increase) in trade and other receivables Increase / (decrease) in trade and other payables Net cash provided by operating activities Net cash from investing activities Net cash from financing activities Net increase / (decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2023 2022 £ £ (50,441) (114,276) - - -------------------------------- -------------------------------- (50,441) (114,276) - (1,718) 36 -------------------------------- -------------------------------- (52,159) (114,240) - - - - -------------------------------- -------------------------------- (52,159) (114,240) 54,589 168,829 -------------------------------- -------------------------------- 2,430 54,589 ––––––––––– ––––––––––– 2,430 54,589 ––––––––––– ––––––––––– |
|---|---|
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STARTUPONLINE
(A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS At 30th June 2023
1. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) - Charities SORP (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to the accounts for previous years.
Fund Income Accounting
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objects of the charity.
Restricted funds are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Recognition of income
Income is included in the Statement of Financial Activities when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Where income has related expenditure the income and related expenditure is reported gross in the Statement of Financial Activities.
Voluntary income received by way of grants, donations and gifts is included in the Statement of Financial Activities when receivable and only when the Charity has unconditional entitlement to the income.
Income from tax reclaims is included in the Statement of Financial Activities at the same time as the gift/donation to which it relates.
Donated services and facilities are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.
The value of any volunteer help received is not included in the accounts.
Investment income is included in the accounts when receivable.
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STARTUPONLINE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS At 30th June 2023
Fund Expenditure Accounting
Expenditure is recognised on an accruals basis and includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on raising funds comprise the costs associated with attracting voluntary income, fundraising trading costs and investment management costs.
Expenditure on charitable activities comprise the costs incurred by the Charity in the delivery of its activities and services in the furtherance of its objects, including the making of grants and governance costs.
Grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the Trustees at the end of the year but not yet paid.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, together with a share of other administration costs.
Other expenditure represents support costs not allocated to a particular activity.
Presentation currency
The accounts are presented in sterling which is the functional currency of the company.
Taxation
The company is registered as a charity and is exempt from taxation on its income and capital gains applied for charitable purposes.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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STARTUPONLINE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS At 30th June 2023
2. DONATIONS & GRANTS
| DONATIONS & GRANTS | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | 2023 | 2022 | |
| £ | £ | |||
| Donations and legacies | 4,000 | - | 4,000 | 29,750 |
| Grants receivable for core activities | - | - | - | 20,000 |
| ––––––––––– | ––––––––––– | |||
| 4,000 | 49,750 | |||
| ––––––––––– | ––––––––––– |
| Unrestricted funds: John Burton Charitable Trust |
4,000 ––––––––––– |
|---|---|
3. EXPENDITURE ON CHARITABLE ACTIVITIES
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Client Support | 20,415 | 62,418 |
| Project Delivery | 21,730 | 65,600 |
| Mentoring | 11,683 | 34,688 |
| Governance Costs | 613 | 1,320 |
| ––––––––––– | ––––––––––– | |
| 54,441 | 164,026 | |
| ––––––––––– | ––––––––––– |
4. CREDITORS: AMOUNTS DUE WITH ONE YEAR
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Other taxes | - | 1,011 |
| Other creditors | 613 | 1,320 |
| ––––––––––– | ––––––––––– | |
| 613 | 2,331 | |
| ––––––––––– | ––––––––––– |
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STARTUPONLINE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS At 30th June 2023
5. EMPLOYEES
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| The average number of employees during the year | 1 | 1 |
| –––––– | –––––– |
No employees received emoluments in excess of £60,000
6. CONTROLLING PARTIES
The company is limited by guarantee and has no share capital; thus no single party controls the company.
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