REGISTERED COMPANY NUMBER: 06407883 (England and Wales) REGISTERED CHARITY NUMBER: 1122662
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
PROMISE INCLUSION LIMITED
Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
PROMISE INCLUSION LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Cash Flow Statement | 8 |
| Notes to the Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10 to 19 |
| Detailed Statement of Financial Activities | 20 to 21 |
PROMISE INCLUSION LIMITED
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
Objectives and aims
The relief of people with a learning disability and/or associated disabilities in particular by the provision of help and support for them and their families, dependants and carers.
To provide or assist in the provision of facilities for the recreation or other leisure time occupation for people who need thereof by reason of learning disability with the object of improving their conditions of life.
Significant activities
Organising and managing various projects, events and activities designed to achieve the above objectives.
Public benefit
As a small charity, below the Charity Act's audit threshold, the trustees' report focuses on the main activities undertaken by the Society to further its charitable purposes for the public benefit. The Objectives and Activities section provides a brief summary of the activities which have all been undertaken for the public benefit. Although the society is restricted to its geographic area of Wokingham, Bracknell and their surrounding districts, it is designed to provide support to people with a learning disability and their families, dependants and carers, its support and activities are open to all without further restriction. Any fees charged to members and participants are at market rate, as we do now make more than a nominal charge for some activities.
Volunteers
The charity relies on voluntary help for a variety of tasks. This includes specific tasks on a regular basis such as The Trustees and the people who help or run our clubs and activities,as well as those who update the website or undertake one-off fundraising challenges. On an ad hoc basis volunteers help with office tasks such as: stuffing envelopes, data entry, making tea, helping at fundraising events, sorting out tombola items and doing tin shakes.
STRATEGIC REPORT
Achievement and performance
Charitable activities
The Society has continued to run a number of successful events and activities within the Wokingham and Bracknell Districts including family liaison work, activity clubs for children and adults, events and outings for carers and families of children and adults with learning disabilities and other charitable activities. In 2021 due to the Covid pandemic the Society continued to work flexibly, alternating between online and in person services and activities.
Page 1
PROMISE INCLUSION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRATEGIC REPORT Financial review
Financial position
Overall income for the year was lower than 2020, but this was expected. This was due to the Covid pandemic impacting on charities' ability to fundraise as most funders had offered emergency grant funding in 2020 but not in 2021 and we were aware there would be less funding available, plus it would be more targeted and harder to reach the criteria along with more organisations chasing the available funding.
Providing adequate funding for the Society's many services remains a very considerable challenge and presents the greatest risk to the Society's continued survival in the long term.
The Society is dependent upon various grants and in particular funding from Wokingham Borough Council and Children in Need. The contract for a Family Liaison and Carers Service from Wokingham Borough Council was extended until 31 March 2022. This service went out to tender in late 2021 and we have just been informed that we have been successful in this bid and funding has been secured for at least another 2 years.
The Society continues to seek funding from a variety of sources to maintain its success in future projects and is focussed on securing longer-term funding to ensure stability for the Society. At the end of 2021 the Society was successful in receiving a 2 year unrestricted grant from the Lloyds Foundation for 2022 and 2023. The Society also received grants from Garfield Weston and the Bracknell Forest Recovery Fund to support its Family Liaison Service during 2022.
Reserves policy
The trustees regularly review the reserves policies to ensure that they are at an appropriate level. In particular cash is maintained at a level to support the short and medium term needs of the charity. Currently the trustees aim to keep free reserves at a level that will cover between three and six months of costs.
The charity has total reserves of £138,311 including £333 of functional assets and £68,829 for restricted purposes, leaving £69,149 of free reserves. Of this, £37,753 has been set aside for designated purposes, with the remaining £31,396 available for general use. This is in line with the trustees’ reserves policy.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Promise Inclusion Limited is a company limited by guarantee governed by its Memorandum and Articles dated 24 October 2007. It is registered as a charity with the Charity Commission.
Recruitment and appointment of new trustees
As set out in the Articles of Association the chair of the trustees is nominated by the executive committee. Nominations for the election to the executive committee are considered and voted upon at the Annual General Meeting. The maximum number of members of the executive shall be no more than twelve.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 2
PROMISE INCLUSION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06407883 (England and Wales)
Registered Charity number
1122662
Registered office
Waterford House Erftstadt Court Denmark Street Wokingham Berkshire RG40 2YF
Trustees
J E Ward (Chairman) P Regan T M Bradlaw J K Green (Treasurer) P D Lowery C Laskin C Dow (resigned 30.11.21) J Warrick (appointed 22.7.21)
Independent Examiner
K M Cutts, FCA Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 05/07/2022
Jill (Jul 5, 2022 17:04 GMT+1) ....................................................................
J E Ward - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PROMISE INCLUSION LIMITED
Independent examiner's report to the trustees of Promise Inclusion Limited ('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
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
-
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
-
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.
K M Cutts, FCA Vale & West Chartered Accountants Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG
Date: ............................................. 06/07/2022
Page 4
PROMISE INCLUSION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Total | Total | |||
| fund | fund | fund | funds | funds | |||
| Notes | £ | £ | £ | £ | £ | ||
| INCOME AND | |||||||
| ENDOWMENTS FROM | |||||||
| Donations and legacies | 2 | 32,925 | - | 101,159 | 134,084 | 183,613 | |
| Charitable activities | 4 | ||||||
| Charitable activities | 2,787 | - | 7,063 | 9,850 | 4,657 | ||
| Investment income | 3 | 528 | - | - | 528 | 128 | |
| Total | 36,240 | - | 108,222 | 144,462 | 188,398 | ||
| EXPENDITURE ON | |||||||
| Charitable activities | 5 | ||||||
| Charitable activities | 64,272 | - | 106,801 | 171,073 | 160,140 | ||
| NET | |||||||
| INCOME/(EXPENDITURE) | (28,032) | - | 1,421 | (26,611) | 28,258 | ||
| Transfers between funds | 14 | 12,500 | 263 | (12,763) | - | - | |
| Net movement in funds | (15,532) | 263 | (11,342) | (26,611) | 28,258 | ||
| RECONCILIATION OF | |||||||
| FUNDS | |||||||
| Total funds brought forward | 47,261 | 37,490 | 80,171 | 164,922 | 136,664 | ||
| TOTAL FUNDS CARRIED | |||||||
| FORWARD | 31,729 | 37,753 | 68,829 | 138,311 | 164,922 |
The notes form part of these financial statements
Page 5
PROMISE INCLUSION LIMITED
BALANCE SHEET 31 DECEMBER 2021
| Unrestricted Designated Restricted fund fund fund Notes £ £ £ FIXED ASSETS Tangible assets 11 333 - - CURRENT ASSETS Debtors: amounts falling due within one year 12 2,564 - 8,008 Cash at bank and in hand 68,587 37,753 101,085 71,151 37,753 109,093 CREDITORS Amounts falling due within one year 13 (39,755) - (40,264) NET CURRENT ASSETS 31,396 37,753 68,829 TOTAL ASSETS LESS CURRENT LIABILITIES 31,729 37,753 68,829 NET ASSETS 31,729 37,753 68,829 FUNDS 14 Unrestricted funds: General fund Designated fund Restricted funds TOTAL FUNDS |
31.12.21 Total funds £ 333 10,572 207,425 217,997 (80,019) 137,978 138,311 138,311 31,729 37,753 69,482 68,829 138,311 |
31.12.20 Total funds £ 433 9,611 181,939 191,550 (27,061) 164,489 164,922 164,922 47,261 37,490 84,751 80,171 164,922 |
|---|---|---|
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 notes form part of these financial statements
Page 6
continued...
PROMISE INCLUSION LIMITED
BALANCE SHEET - continued 31 DECEMBER 2021
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.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 05/07/2022
Jennie Green (Jul 5, 2022 17:25 GMT+1)
............................................. J K Green - Trustee
The notes form part of these financial statements
Page 7
PROMISE INCLUSION LIMITED
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 operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received 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 |
31.12.21 £ 25,062 25,062 (104) 528 424 25,486 181,939 207,425 |
31.12.20 £ 44,802 44,802 (258) 128 (130) 44,672 137,267 181,939 |
|---|---|---|
The notes form part of these financial statements
Page 8
PROMISE INCLUSION LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operations |
31.12.21 £ (26,611) 204 (528) (961) 52,958 25,062 |
31.12.20 £ 28,258 150 (128) 33,410 (16,888) 44,802 |
|---|---|---|
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 | 181,939 | 25,486 | 207,425 |
| 181,939 | 25,486 | 207,425 | |
| Total | 181,939 | 25,486 | 207,425 |
The notes form part of these financial statements
Page 9
PROMISE INCLUSION LIMITED
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.
Office equipment - Straight line over 5 years Computer equipment - Straight line over 3 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds, incorporating the general fund and the designated fund, 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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 10
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES - continued
Going concern
The charity reported a cash inflow of £25,486 in the year. The trustees have considered the uncertainties in relation to the charity's future funding (set out in the trustees' report) and consider that there is sufficient funding in place for the next year to enable the accounts to be prepared on a going concern basis.
2. DONATIONS AND LEGACIES
| Donations Grants Subscriptions Sponsorship income Grants received, included in the above, are as follows: |
31.12.21 £ 25,111 105,655 3,188 130 134,084 |
31.12.21 £ 25,111 105,655 3,188 130 134,084 |
31.12.20 £ 42,743 137,920 2,950 - 183,613 |
|---|---|---|---|
| 31.12.21 | 31.12.20 | ||
| £ | £ | ||
| Wokingham Borough Council Unrestricted |
22,146 | 21,987 | |
| Bracknell Forest Borough Council Unrestricted |
- | 7,647 | |
| Healthwatch Bracknell Forest Unrestricted |
- | 400 | |
| Berkshire Community Fund Unrestricted |
- | 3,211 | |
| Lloyds Bank Foundation Unrestricted |
- | 5,024 | |
| Royal Mencap Society Unrestricted (for digital equipment) |
2,700 | - | |
| BBC Children In Need Unrestricted (for children) |
- | 500 | |
| Wokingham Borough Council Restricted - Autism Training |
5,000 | 10,070 | |
| Wokingham Borough Council Restricted - Family Liaison & Carers |
27,797 | 26,487 | |
| Bracknell Forest Borough Council Restricted - Family Liaison & Carers |
- | 16,653 | |
| Berkshire Community Fund Restricted - Family Liaison & Carers |
5,000 | 1,400 | |
| National Lottery Community Fund Restricted - Family Liaison & Carers |
7,081 | 9,145 | |
| Woodley Town Council Restricted - Children |
250 | - | |
| Berkshire Community Fund Restricted - Children |
- | 1,751 | |
| BBC Children In Need Restricted - Children |
19,656 | 13,814 | |
| HMRC - Furlough Scheme Restricted - Children |
1,112 | 4,437 | |
| National Grid Restricted - Adults |
1,667 | - | |
| Royal Mencap Society Restricted - Adults |
1,732 | - | |
| Wokingham Town Council Restricted - Adults |
1,000 | - | |
| LocalGiving - Little Magic Grant Restricted - Adults |
500 | - | |
| HMRC - Furlough Scheme Restricted - Adults |
3,331 | 7,077 | |
| Lloyds Bank Foundation Restricted - Fundraiser Post |
6,683 | 8,317 | |
| 105,655 | 137,920 | ||
continued...
Page 11
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
2. DONATIONS AND LEGACIES - continued
The charity benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
3. INVESTMENT INCOME
| Bank interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity Fundraising activities Charitable activities Theatre and other outings Charitable activities Fees for club activities Charitable activities 5. CHARITABLE ACTIVITIES COSTS Charitable activities 6. SUPPORT COSTS Charitable activities |
Direct Costs £ 167,273 |
31.12.21 31.12.20 £ £ 528 128 31.12.21 31.12.20 £ £ 4,457 1,873 959 869 4,434 1,915 9,850 4,657 Support costs (see note 6) Totals £ £ 3,800 171,073 Governance costs £ 3,800 |
|---|---|---|
continued...
Page 12
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 204 | 150 |
8. 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' remuneration or other benefits for the year ended 31 December 2021
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Charitable activities |
31.12.21 £ 127,301 1,522 4,637 133,460 31.12.21 22 |
31.12.20 £ 123,228 1,760 3,853 |
|---|---|---|
| 128,841 | ||
| 31.12.20 21 |
No employees received emoluments in excess of £60,000.
continued...
Page 13
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Designated Restricted fund fund fund £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 63,629 - 119,984 Charitable activities Charitable activities 1,028 - 3,629 Investment income 128 - - Total 64,785 - 123,613 EXPENDITURE ON Charitable activities Charitable activities 52,638 - 107,502 NET INCOME 12,147 - 16,111 Transfers between funds - 5,613 (5,613) Net movement in funds 12,147 5,613 10,498 RECONCILIATION OF FUNDS Total funds brought forward 35,114 31,877 69,673 TOTAL FUNDS CARRIED FORWARD 47,261 37,490 80,171 |
Total funds £ 183,613 4,657 128 |
|---|---|
| 188,398 160,140 |
|
| 28,258 - |
|
| 28,258 136,664 |
|
| 164,922 |
continued...
Page 14
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 11. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Office | Computer | |||
| equipment | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 January 2021 | 2,284 | 4,670 | 6,954 | |
| Additions | - | 104 | 104 | |
| At 31 December 2021 | 2,284 | 4,774 | 7,058 | |
| DEPRECIATION | ||||
| At 1 January 2021 | 2,284 | 4,237 | 6,521 | |
| Charge for year | - | 204 | 204 | |
| At 31 December 2021 | 2,284 | 4,441 | 6,725 | |
| NET BOOK VALUE | ||||
| At 31 December 2021 | - | 333 | 333 | |
| At 31 December 2020 | - | 433 | 433 | |
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.12.21 | 31.12.20 | |||
| £ | £ | |||
| Debtors | 781 | 280 | ||
| Other debtors | 4 | 141 | ||
| Prepayments and accrued income | 9,787 | 9,190 | ||
| 10,572 | 9,611 |
Page 15
continued...
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.12.21 | 31.12.20 | |
|---|---|---|
| £ | £ | |
| Creditors | 586 | 160 |
| Social security and other taxes | 1,373 | 1,741 |
| Other creditors | 1,517 | 1,502 |
| Accruals | 4,275 | 4,189 |
| Deferred income | 72,268 | 19,469 |
| 80,019 | 27,061 |
Deferred income
Deferred income comprises grant funding and membership fees received in advance of the next year.
14. MOVEMENT IN FUNDS
| At 1.1.21 £ Unrestricted funds General fund 47,261 Designated fund 37,490 84,751 Restricted funds Restricted fund 80,171 TOTAL FUNDS 164,922 Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Net movement in funds £ (28,032) - (28,032) 1,421 (26,611) Incoming resources £ 36,240 108,222 144,462 |
Transfers between At funds 31.12.21 £ £ 12,500 31,729 263 37,753 12,763 69,482 (12,763) 68,829 - 138,311 Resources Movement expended in funds £ £ (64,272) (28,032) (106,801) 1,421 (171,073) (26,611) |
|---|---|---|
Page 16
continued...
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Designated fund Restricted funds Restricted fund TOTAL FUNDS |
At 1.1.20 £ 35,114 31,877 66,991 69,673 136,664 |
Net movement in funds £ 12,147 - 12,147 16,111 28,258 |
Transfers between funds £ - 5,613 5,613 (5,613) - |
At 31.12.20 £ 47,261 37,490 |
|---|---|---|---|---|
| 84,751 80,171 |
||||
| 164,922 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 64,785 123,613 188,398 |
Resources Movement expended in funds £ £ (52,638) 12,147 (107,502) 16,111 (160,140) 28,258 |
|---|---|---|
continued...
Page 17
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated fund Restricted funds Restricted fund TOTAL FUNDS |
At 1.1.20 £ 35,114 31,877 66,991 69,673 136,664 |
Net movement in funds £ (15,885) - (15,885) 17,532 1,647 |
Transfers between funds £ 12,500 5,876 18,376 (18,376) - |
At 31.12.21 £ 31,729 37,753 |
|---|---|---|---|---|
| 69,482 68,829 |
||||
| 138,311 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 101,025 231,835 332,860 |
Resources Movement expended in funds £ £ (116,910) (15,885) (214,303) 17,532 (331,213) 1,647 |
|---|---|---|
Description, nature and purpose of funds
Unrestricted funds:
General fund The ‘free reserves’ after allowing for all designated funds. Designated fund Designated funds include funds in relation to historic fundraising events and a contingency fund set aside to cover costs that would arise in the event that the Charity were to close.
Restricted funds:
Siblings fund
continued...
Page 18
PROMISE INCLUSION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
14. MOVEMENT IN FUNDS - continued
Wokingham Carers Respite Activities fund Wokingham Family Liaison Worker - Adults fund Wokingham Family Liaison Worker - Children fund Bracknell Family Liaison Worker - Transition fund Bracknell Family Liaison Worker - Adults fund Bracknell Carers Respite Activities fund Bracknell Gateway fund Wokingham Youth Club fund Bracknell Social Group fund Wokingham Paul's Karaoke fund Wokingham At the Acorn fund Special Project fund Fundraiser Post fund
Transfers between funds
During the year £3,900 (2020: £5,613) was transferred from restricted funds to the designated fund. This transfer relates to agreed contributions towards core costs.
Transfers were also made from the designated fund (£3,637) and restricted fund (£8,863) to the unrestricted fund totalling £12,500. These related to agreed contributions to core costs in respect of additional costs incurred as a result of the coronavirus pandemic.
15. RELATED PARTY DISCLOSURES
The daughter of a Trustee, Pat Regan, received £1,396 during the year for services rendered (2020: £1,361).
The son of a Trustee, Tracy Bradlaw, received £1,020 during the year for services rendered (2020: £1,093).
The husband of a Trustee, Jill Ward, received £nil during the year for services rendered (2020: £4,598).
Page 19
PROMISE INCLUSION LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS | ||||
| Donations and legacies | ||||
| Donations | 4,891 | 20,220 | 25,111 | 42,743 |
| Grants | 24,846 | 80,809 | 105,655 | 137,920 |
| Subscriptions | 3,188 | - | 3,188 | 2,950 |
| Sponsorship income | - | 130 | 130 | - |
| 32,925 | 101,159 | 134,084 | 183,613 | |
| Investment income | ||||
| Bank interest | 528 | - | 528 | 128 |
| Charitable activities | ||||
| Fundraising activities | 2,529 | 1,928 | 4,457 | 1,873 |
| Theatre and other outings | - | 959 | 959 | 869 |
| Fees for club activities | 258 | 4,176 | 4,434 | 1,915 |
| 2,787 | 7,063 | 9,850 | 4,657 | |
| Total incoming resources | 36,240 | 108,222 | 144,462 | 188,398 |
| EXPENDITURE | ||||
| Charitable activities | ||||
| Personnel costs | 34,156 | 93,145 | 127,301 | 123,228 |
| Social security | 1,298 | 224 | 1,522 | 1,760 |
| Pensions | 2,746 | 1,891 | 4,637 | 3,853 |
| Insurance | 2,829 | - | 2,829 | 2,833 |
| Telephone | 1,415 | 2,412 | 3,827 | 3,162 |
| Postage and stationery | 3,393 | 22 | 3,415 | 4,241 |
| Sundries | 714 | 45 | 759 | 41 |
| Other staff costs | 40 | 200 | 240 | 1,420 |
| Training and recruitment | 644 | 135 | 779 | 945 |
| Travelling | 213 | 469 | 682 | 423 |
| Theatre and other outings | - | 4,383 | 4,383 | 420 |
| Carried forward | 47,448 | 102,926 | 150,374 | 142,326 |
This page does not form part of the statutory financial statements
Page 20
PROMISE INCLUSION LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 31.12.21 | 31.12.20 | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| funds | funds | funds | funds | |
| £ | £ | £ | £ | |
| Charitable activities | ||||
| Brought forward | 47,448 | 102,926 | 150,374 | 142,326 |
| Club activity costs | - | 884 | 884 | 1,061 |
| Refreshments | 44 | 436 | 480 | 148 |
| Hall hire and AGM costs | 105 | 1,485 | 1,590 | 1,042 |
| Rent and service charges | 7,200 | - | 7,200 | 5,400 |
| Repairs and renewals | 2,663 | - | 2,663 | 4,857 |
| Fundraising costs | 216 | - | 216 | 28 |
| Professional fees | 2,402 | 105 | 2,507 | 2,191 |
| Bank charges | 32 | - | 32 | 64 |
| Marketing | - | 605 | 605 | 30 |
| Computer software | 158 | 360 | 518 | 343 |
| Depreciation of tangible fixed assets | 204 | - | 204 | 150 |
| 60,472 | 106,801 | 167,273 | 157,640 | |
| Support costs | ||||
| Governance costs | ||||
| Accountancy fees | 3,800 | - | 3,800 | 2,500 |
| Total resources expended | 64,272 | 106,801 | 171,073 | 160,140 |
| Net income | (28,032) | 1,421 | (26,611) | 28,258 |
This page does not form part of the statutory financial statements
Page 21
Promise Inclusion Limited The Court House Broadway, Town Square Bracknell RG12 1AE
Vale & West Victoria House 26 Queen Victoria Street Reading RG1 1TG
Dear Sirs
During the course of your independent examination of the financial statements of the charity for the year ended 31 December 2021, the following representations were made to you by management and trustees.
-
We have fulfilled our responsibilities as trustees under the Companies Act 2006 and Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework, that give a true and fair view and for making accurate representations to you as our independent examiner and for the financial statements which you have prepared on our behalf for the charity.
-
We confirm that all accounting records have been made available to you for the purpose of your independent examination, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you. We have given you unrestricted access to persons within the charity in order to obtain evidence and have provided any additional information that you have requested for the purposes of your examination.
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We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
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We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to the independent examiner and accounted for and disclosed in accordance with the applicable financial reporting framework.
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We confirm that there had been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
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We confirm that we are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charity or vice versa and as a result will include
trustees, other key management, close family and other business interests of the previous. We confirm that the related party relationships and transactions set out below are a complete list of such relationships and transactions and that we are not aware of any further related parties or transactions.
| Party | Relationship | Nature of transaction |
|---|---|---|
| K Regan | Daughter of a trustee | Remuneration for |
| services rendered | ||
| D Bradlaw | Son of a trustee | Remuneration for |
| services rendered |
-
We confirm that all related party relationships and transactions have been accounted for and disclosed in accordance with the applicable financial reporting framework.
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We confirm that the charity has had, at no time during the year, any arrangement, transaction or agreement to provide credit facilities (including loans, quasi-loans or credit transactions) for trustees, nor to guarantee nor provide security for such matters.
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We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
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We confirm that we are not aware of any possible or actual instance of noncompliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity’s ability to conduct its activities.
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We acknowledge our responsibility for the design and implementation of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our own risk assessment that the financial statements may be misstated as a result of fraud.
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We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by former trustees, employees, regulators or others.
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We confirm that, having considered our expectations and intentions for the next 12 months and the availability of unrestricted reserves, the charity is a going concern.
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We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income.
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We confirm that we are not aware of any matters of material significance that should be reported to the Charity Commission.
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We acknowledge our legal responsibilities regarding disclosure of information to you as independent examiners and confirm that:
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so far as each trustee is aware, there is no relevant audit information of which you as independent examiners are unaware; and
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each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that you are aware of that information.
We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate of supporting documentation) sufficient to satisfy us that we can properly make each of the above representations to you and that to the best of our knowledge and belief they accurately reflect the representations made to you by the trustees during the course of your audit.
Yours faithfully
Jennie Green (Jul 5, 2022 17:25 GMT+1)
Signed on behalf of the board of trustees:
05/07/2022 Date..................................................................
2022-07-06
Promise Inclusion Limited
Final Audit Report
Created: 2022-07-05 By: Elaine Bukiej (ebukiej@valewest.com) Status: Signed Transaction ID: CBJCHBCAABAAMT72IUA0FR4TngXNKGYYB6NwlFz9DHkb
"Promise Inclusion Limited" History
Document created by Elaine Bukiej (ebukiej@valewest.com)
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Signature Date: 2022-07-06 - 9:11:08 AM GMT - Time Source: server- IP address: 217.38.15.194 Agreement completed. 2022-07-06 - 9:11:08 AM GMT