Registered Charity number: 1129402 Company number: 06849534
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Dains LLP Chartered Accountants
St John’s Court Wiltell Road Lichfield Staffordshire WS14 9DS
THE INSPIRE AND ACHIEVE FOUNDATION INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
| Page | |
|---|---|
| Reference and Administrative information | 1 |
| Report of the Trustees | 2-6 |
| Independent Examiners Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11-17 |
THE INSPIRE AND ACHIEVE FOUNDATION
(A Company Limited by Guarantee)
Reference and Administrative Information
Charity Registration Number: 1129402 Company Registration Number: 06849534 Registered Office: 39d Stockwell Gate Mansfield Nottinghamshire NG18 1LA Website: www.inspireachieve.co.uk Directors/Trustees: Andrew M Tucker (Chairman) Michael H W Cannon – resigned 18 May 2021 Yvonne L Card Dame Asha Khemka DBE, OBE Alexandra E Peace-Gadsby Keith W Rodgers Director (Executive): Pippa Carter Independent Examiner: A P Morris FCA of Dains LLP Chartered Accountants St John’s Court Wiltell Road Lichfield Staffordshire WS14 9DS Principal Bankers: Lloyds Bank Stockwell Gate Mansfield
Page 1
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their report together with the financial statements of the charity for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 effective 1 January 2019.
The reference and administrative information on page 1 forms part of this report.
Structure, Governance and Management
Governing Document
The Inspire and Achieve Foundation is a charitable company limited by guarantee. It was incorporated on 17 March 2009 and registered as a charity on 5 May 2009. The charity was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. In the event of the company being wound up the members are required to contribute an amount not exceeding £1.
Recruitment and Appointment of the Board of Trustees
The directors of the charitable company are its trustees for the purpose of charity law. The articles of association state that there must be a minimum of two trustees. New trustees are usually identified from amongst the local community. The Inspire and Achieve Foundation strives to ensure that trustees have the relevant business and practical experience required. They are appointed by ordinary resolution to serve for a period of four years.
Trustee Induction and Training
The induction process for any newly appointed trustee comprises an initial meeting with the Board of Trustees, at which a pack is provided. This includes a copy of the memorandum and articles of association, copy of the most recent annual report and accounts, copy minutes of previous trustees’ meetings and a copy of the charity commission guidance ‘The Essential Trustee’.
Risk Management
The trustees implement a risk management strategy which comprises:
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An annual review of the risks which the charity may face
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The establishment of systems and procedures to mitigate those risks identified, including young
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people and vulnerable adults policy.
Organisational Structure
The foundation is managed by the Director (Executive) who reports to the Board of Trustees. Programmes are delivered in partnership with other charities and voluntary organisations in furtherance of the foundation’s objectives. There are 32 members of staff in total. All members of staff are directly employed by the Foundation. One trustee has resigned since the year end and an approach has been made to a potential new trustee. New Trustees are asked to apply in writing to the charity, and declare any conflicts of interest so that their application can be assessed by the Trustee Board. A vote is then taken in the next Board meeting as to whether an appointment should be made.
Key Management Personnel Remuneration
The Board of Trustees and the Director (Executive) comprise the key management personnel of the Charity, in charge of directing and controlling the Charity and operating it on a day to day basis. Trustees give of their time freely and no trustee remuneration or expenses were paid in the year. The Director (Executive) is employed on a full- time basis and works closely with the Board. She is responsible for the day to day management of the Charity and her remuneration is based on similar roles in the locality and reviewed annually.
Page 2
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
Objectives and Activities for the Public Benefit
The Inspire and Achieve Foundation (IAF) is a registered charity with a single charitable object: The advancement of education of young people from regeneration areas.
IAF operates in Nottinghamshire and Nottingham City and its activities target young people aged 16-26 who are not in education, employment or training (NEET), or who are at risk of falling into this category. IAF acts as a resource providing advice and educational programmes to enable young people to advance in life.
IAF’s mission statement is; ‘Inspiring young people: Empowering them to achieve their best’.
IAF’s charitable objectives are to raise the aspirations and achievements of disadvantaged young people, and those not in education, employment and training by:
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Inspiring and supporting them to make positive changes in their lives,
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Inspiring and supporting them to find progression routes into education and employment,
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Working in partnership with educational organisations, other third sector organisations, and business to signpost, create, and provide positive progression routes and supported activities.
IAF has six strategic goals to help structure the development of the charity:
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To inspire more young people to raise their aspirations.
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To empower more young people with the life skills and confidence to achieve their full potential.
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To enable more young people to sustain their progression.
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To increase the Inspire and Achieve Foundation’s profile and engage wider society encouraging them to take a more supportive view of disadvantaged young people.
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To ensure the Inspire and Achieve Foundation has adequate resources and operate a financially sustainable model
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To build organisational capacity for future growth.
This year saw the Covid -19 pandemic strike and IAF delivery, funding and staffing has been severely affected. IAF continued to deliver throughout the pandemic (following social distancing/ government guidance) as it felt its priority was to support its beneficiaries in a time of huge turbulence, isolation and escalating frequency of domestic violence and poor mental health.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and have complied with their duties under the Charities Act 2011.
Achievements and Performance
2020/21 has seen the Foundation deliver much needed assistance to young people on the margins of society. The Inspire and Achieve Foundation has helped 350 individuals over the course of the year (down from 489 in 2019/20), with 66% of them progressing into employment, education or training within the financial year, and many with planned progressions for the new financial year. Recruitment and engagement of young people has dropped off with the pandemic this year but we have found that the young people we help need more in depth support. 37% of our participants disclose to having poor mental health, 19% have disclosed learning difficulties, and many have a complex mix of housing issues, addiction issues, criminal records, are young parents, or have come through the care system.
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THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
Achievements and Performance (continued)
Project activity has grown within the Princes Trust programme, LEAF was launched in September 2020, and Stage 1 work with offenders and prison leavers has continued. Project activity within the year has been as follows:
Stage 1 Boxing Project: 0 participants due to COVID, waiting list of 46 (89 in 2019/20) Stage 1 Football Project: 0 participants due to COVID, no waiting list (39 in 2019/20) Stage 1 Intensive Mentoring with Offenders: 59 participants (39 in 2019/20) Stage 1 Communi-Tea Project: 57 participants (90 in 2019/20) Stage 2 Prince’s Trust Team Programme: 176 participants (186 in 2019/20) Stage 2 LEAF Study Programme: 13 participants (new project) Stage 2 Mentoring and IAG programme: 197 participants (390 in 2019/20) Stage 3 Participation, Mentoring and IAG programme: 18 participants (37 in 2019/20))
Stage 1 projects have two elements. Firstly a focus on outreach and engagement, capturing the interest and gaining the trust of the young person. This is achieved by on-going programmes run in a community venue for a couple of hours a week and includes boxing, football and the Communi-Tea project which tackles social isolation and provides a non-sports based and female friendly project. IAF conducts outreach work on the streets, via hostels, and through referral agencies, attracting hard to reach individuals with enjoyable and fun Stage 1 activities.
The second element is around reducing re-offending and providing intensive one to one support and mentoring for offenders referred to us through police custody suites, direct from the prison gates, or through offender support services.
For both elements of Stage 1 delivery IAF offers IAG and mentoring to young people who attend, and we either help them directly or refer them onto specialists where needed. The advice given at this stage tends to be around resolving problems and issues in their personal lives. These Stage 1 activities then help to:
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Build self- esteem and self-awareness,
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Address anti-social behaviours and managing conflict,
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Provide positive activities to occupy their time and build friendships,
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Support them with their mental and physical health,
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Teach respect and community awareness, and
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Motivate and inspire young people to change their lives.
Stage 2 projects build upon the progress made at Stage 1, and has a focus on employability and progression into education, employment or training. Stage 2 projects often have an element of classroom based learning, and reinforce key messages from Stage 1 activity. Training programmes address areas such as employability skills, anger management, body-language, behaving responsibly, and taking control of your own future. One-to-one mentoring is provided and action planning is built into the taught sessions. These IAG sessions tend to focus more on progression into education and employment.
IAF has expanded its delivery of the Princes Trust Team Programme into St Anns and Hyson Green this year, with 176 young people attending the programme within the year. Each programme is 12 weeks long and includes a residential, community projects, work experience and a final presentation.
IAF launched the first project of the LEAF training programme: the 16-18 study programme which has 540 guided learning hours and had the core qualification of the AIM award in personal development. Pilots were also run for a number of other AIM award modules (which included 19+ provision) including the Reflect behaviour change programme for offenders.
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THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
Achievements and Performance (continued)
In addition to mentoring, IAF also brokers, where appropriate, the following: work experience placements, volunteering opportunities and training/qualifications from alternative providers.
IAF secured the Matrix Quality Mark within 2020 in recognition of meeting the required quality work standards for its work in information advice and guidance.
Stage 3 : Stage 3 activity involves the provision of one-to-one support and mentoring for those young people who still need assistance once they have progressed into employment or education. They can also participate in our Stage 1 activities if available. The objective of this Stage 3 support is to ensure that the progression is sustained and that a period of personal crisis does not jettison the young person back into unemployment or cause them to leave education.
Reserves Policy
Free reserves at 31 March 2021 totalled £76,489. The agreed reserves policy is to maintain free reserves at a level that is sufficient to cover three months’ salaries (£183k in 2020/21). Reserves were needed to subsidise the work of the charity during the C-19 pandemic and to keep the charity running under these exceptional circumstances. Unfortunately, the use of reserves this year has meant that the Trustee’s ambition to purchase a building for the charity are on hold until reserve levels can be rebuilt.
Going Concern
Covid restrictions have resulted in numerous delays to the projects that the Charity runs and expenditure exceeded income by almost £80,000 during the first half of 2021/22, however forecasts for the full year predict a surplus of approximately £44,000. The main risk is that the Charity is unable to attract sufficient young people to make a project viable. The Charity is managing this risk by continuing to build strong relationships a wide base of referral sources, enabling it to reach out to more young people. In addition, courses have been adapted to run over a shorter timescale, which reduces the risk of disruption. Forecasts are prepared for a rolling 12 month period and reviewed on a monthly basis. The continuing effects of the pandemic give rise to uncertainty, however the Board is confident that the company has sufficient resources for the next twelve months and on that basis the accounts have been prepared on the going concern basis.
Plans for Future Periods
2021/22 will see the charity consolidate and adapt to its reduced funding portfolio, and see further development of its work with offenders. The LEAF programme funding and Prince’s Trust Team programme funding has been badly affected by changes to the ESFA subcontracting rules, which have seen colleges cap the funding allocated to IAF activity. As a result 9 Prince’s Trust teams will reduce to 5 this academic year and LEAF can no longer run. Key delivery activities planned for the year are as follows:
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The delivery of Prince’s Trust Team programme in 5 locations in Nottingham/ Nottinghamshire
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The continued development of Stage 1 projects to include more intensive mentoring for offenders
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The continued delivery of Stage 2 and Stage 3 mentoring
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Continue to adapt as required to evolve services as needed through the Covid 19 pandemic
With regar ~~ds~~ to financial management and governance, key objectives over the 2021/22 year are as follows:
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To diversify the charity funding base and to secure enough funding to deliver project activity and rebuild reserves.
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To review governance, policies and procedures over the course of the year to ensure that all documents and practices provide maximum support to the needs and activities of the charity as it grows, and are in line with Ofsted, the Matrix Quality Standard for Information Advice and Guidance and GDPR.
Page 5
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
Trustees’ Responsibilities in Relation to the Financial Statements
The trustees (who are also directors of The Inspire and Achieve Foundation for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner
A resolution will be proposed at the Annual General Meeting that A P Morris FCA of Dains LLP be reappointed as independent examiner of the charity for the ensuing year.
Small Company Exemptions
This report is prepared in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006.
Approved by the Board of Trustees on 17 December 2021 and signed on its behalf:
Yvonne Card Director
Page 6
THE INSPIRE AND ACHIEVE FOUNDATION
(A Company Limited by Guarantee)
Independent Examiner's Report to the Trustees of The Inspire and Achieve Foundation
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 8 to 17.
Responsibilities and basis of report
As the charity 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 company’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 the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the 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 that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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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.
A P Morris FCA of Dains LLP St John’s Court Wiltell Road Lichfield Staffordshire WS14 9DS
17 December 2021
Page 7
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds |
Funds | |
| 2021 | 2020 | ||||
| £ | £ | £ | £ | ||
| Income from: | |||||
| Grants and donations | 3 | 22,951 | 44,350 | 67,301 | 55,019 |
| Bank Interest | 71 | - | 71 | 441 | |
| Charitable activities | 4 | 515,342 | 268,693 | 784,035 | 639,114 |
| Fundraising | 1,620 | - | 1,620 | 3,635 | |
| ______ | ______ | ______ | ______ | ||
| Total Income | 539,984 | 313,043 | 853,027 | 698,209 | |
| ______ | ______ | ______ | ______ | ||
| Expenditure on: | |||||
| Raising funds | 5 | 6,485 | - | 6,485 | 5,517 |
| Charitable activities | 7 | 559,014 | 326,015 | 885,029 | 617,178 |
| Governance | 8 | 21,470 | - | 21,470 | 18,766 |
| ______ | ______ | ______ | ______ | ||
| Total Expenditure | 586,969 | 326,015 | 912,984 | 641,461 | |
| ______ | ______ | ______ | ______ | ||
| Net Income/ (Expenditure) | (46,985) | (12,972) |
(59,957) | 56,748 | |
| Total Funds Brought Forward | 123,474 | 12,972 | 136,446 | 79,698 | |
| ______ | ______ | ______ | ______ | ||
| Total Funds Carried Forward | 76,489 | - | 76,489 | 136,446 | |
| ______ | ______ | ______ | ______ |
The statement of financial activities includes all gains and losses recognised in the year.
All amounts derive from continuing activities.
Page 8
THE INSPIRE AND ACHIEVE FOUNDATION
(A Company Limited by Guarantee) BALANCE SHEET AT 31 MARCH 2021
| 2021 |
2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ |
£ | |
| Fixed Assets | 12 | 14,432 | 3,679 | ||
| Current Assets | |||||
| Debtors | 13 | 48,696 | 90,344 | ||
| Cash at Bank and in Hand | 104,947 | 111,439 | |||
| ______ | ______ | ||||
| 153,643 | 201,783 | ||||
| Creditors: | |||||
| Amounts falling due within 1 year | 14 | 91,586 | 69,016 | ||
| ______ | ______ | ||||
| Net Current Assets | 62,057 | 132,767 | |||
| ______ | ______ | ||||
| Net Assets | 76,489 | 136,446 | |||
| ______ | ______ | ||||
| Restricted Funds | 15 | - | 12,972 | ||
| Unrestricted Funds | 76,489 | 123,474 | |||
| ______ | ______ | ||||
| 76,489 | 136,446 | ||||
| ______ | ______ |
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard (FRS102) (March 2018).
ON BEHALF OF THE TRUSTEES:
……………………………………. Andrew Tucker Approved and authorised for issue by the Trustees on 17 December 2021 Company Registration Number: 06849534
Page 9
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) CASH FLOW STATEMENT AS AT 31 MARCH 2021
| Net Cash Flow from Operating Activities Returns on Investments Interest Received Additions to Fixed Assets Net Cash Inflow/(Outflow) (Decrease)/Increase in Cash in the Year Net Cash Resources at 1 April 2020 Net Cash Resources at 31 March 2021 Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities: Net Incoming/(Outgoing) Resources Adjustments Investment Income Depreciation Charges (Increase)/Decrease in Debtors Increase/(Decrease) in Creditors |
2021 £ 12,327 71 12,398 (18,890) (6,492) (6,492) 111,439 104,947 (59,957) (71) 8,137 41,648 22,570 12,327 |
2020 £ 55,786 441 |
|---|---|---|
| 56,227 (5,519) |
||
| 50,708 | ||
| 50,708 60,731 |
||
| 111,439 | ||
| 56,748 (441) 1,840 (15,312) 12,951 |
||
| 55,786 |
Page 10
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. Accounting Policies
Basis of Accounting
These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the notes to these accounts. 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 Standard applicable in the UK and Republic of Ireland effective 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Going concern
The directors are fully aware of the uncertainty caused by the covid pandemic and continue to exercise effective control on all financial matters relating to the charity. As more fully explained in the Trustees’ Report, having assessed future funding streams for a period of twelve months from the date of approval of the financial statements, the trustees are confident that the charity has adequate resources to continue operating for the foreseeable future and on that basis the accounts have been prepared on the going concern basis.
The principal accounting policies adopted in the preparation of the financial statements are set out below:
Income
Donations and Grants
Donations and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when
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The donor specifies that the grant or donation must only be used in future accounting periods; or
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▪ The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Income from Charitable Activities
Income from charitable activities is recognised as earned.
Investment Income
Bank interest receivable is recognised on a receivable basis.
Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis. Support costs are apportioned by reference to time spent.
Fixed Assets
Fixed assets are capitalised. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Computers 33% straight line basis.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subject to restrictions on their expenditure by the donor at the time of donation.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Donated Services
Donated services are included at their estimated value to the charity.
Page 11
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
2 . Legal Status
The Inspire and Achieve Foundation is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
| 3. Grants and Donations Unrestricted Restricted Funds Funds £ £ Lloyds Bank Foundation - - Notts Police and Crime Commissioner - 25,000 Local Improvement Scheme - 6,750 Mansfield BS Foundation - 12,600 CJRS Grant 21,501 - Browne Jacobson - - Other Grants and Donations 1,450 - __ _ 22,951 44,350 ___ |
Total Total 2021 2020 £ £ - 22,778 25,000 11,000 6,750 9,000 12,600 9,000 21,501 - 1,450 3,241 __ 67,301 55,019 __ |
|---|---|
In 2020 grants and donations comprised unrestricted donations £3,241 and restricted donations £51,778.
| 4. | Income from Charitable | Total | Total |
|---|---|---|---|
| Activities | 2021 | 2020 | |
| £ | £ | ||
| Unrestricted | |||
| ESFA – Prince’s Trust | 449,261 | 430,319 | |
| LEAF | 66,081 | - | |
| Earned income | - | 552 | |
| Restricted | |||
| Building Better Opportunities | 56,369 | 78,350 | |
| Big Lottery (Communi-Tea) | 113,404 | 107,041 | |
| Nottingham Police VRU | 98,920 | 22,852 | |
| ______ | _____ | ||
| 784,035 | 639,114 | ||
| ______ | _____ | ||
| 5. | Raising Funds | Total | Total |
| 2021 | 2020 | ||
| £ | £ | ||
| Direct Costs | 216 | 216 | |
| Support Costs - Salaries | 6,269 | 5,301 | |
| ______ | ______ | ||
| 6,485 | 5,517 | ||
| ______ | _____ |
Page 12
THE INSPIRE AND ACHIEVE FOUNDATION LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
| 6. | Support Costs | Total | Total |
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Salaries including NI | |||
| 76,460 | 60,022 | ||
| ______ | ______ | ||
| 76,460 | 60,022 | ||
| ______ | _____ | ||
| Basis of apportionment- staff time | |||
| Cost of Generating Funds | 6,269 | 5,301 | |
| Charitable Activity | 51,384 | 38,817 | |
| Governance | 18,807 | 15,904 | |
| ______ | ______ | ||
| 76,460 | 60,022 | ||
| ______ | _____ | ||
| 7. | Charitable Activities | Total | Total |
| 2021 | 2020 | ||
| £ | £ | ||
| Project delivery | 181,969 | 151,801 | |
| Support costs - Salaries | 51,384 | 38,817 | |
| Salaries including NI | 605,524 | 387,925 | |
| Office rental and overheads | 36,031 | 35,563 | |
| Insurance | 1,785 | 960 | |
| Bank charges | 199 | 272 | |
| Depreciation | 8,137 | 1,840 | |
| ______ | _____ | ||
| 885,029 | 617,178 | ||
| ______ | ______ |
In 2020 charitable activities of £358,263 included £258,915 of restricted funds.
| 8. | Governance Costs | Total | Total |
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Independent Examiner | 2,650 | 2,650 | |
| Support Costs - Salaries | 18,807 | 15,904 | |
| Other | 13 | 212 | |
| _____ | _____ | ||
| 21,470 | 18,766 | ||
| _____ | _____ |
The independent examiner charged £1,200; the balance represents a donation in kind.
Page 13
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
| Total | Total | ||
|---|---|---|---|
| 9. | Staff Costs and Numbers | 2021 | 2020 |
| £ | £ | ||
| Salaries and Wages | 621,555 | 408,682 | |
| Employers National Insurance | 47,953 | 31,799 | |
| Defined contribution pension contributions | 12,476 | 7,466 | |
| ______ | _____ | ||
| 681,984 | 447,947 | ||
| ______ | ______ |
One employee received remuneration in the bracket £60,000-£70,000. (2020 – none). Total remuneration of key management personnel in the year was £62,690 (2020 - £53,014) The average number of employees during the year, calculated on the basis of full time equivalents was as follows:
| Charitable Activities and Governance | Total 2021 £ 30 _____ |
Total 2020 £ 18 _____ |
|---|---|---|
10. Trustees Remuneration and Related Party Transactions
No trustee received any remuneration or expenses during the year (2020- £Nil).
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. (2020 - £Nil).
11. Taxation
As a charity, The Inspire and Achieve Foundation is exempt from tax on income falling within S.505 of the Taxes Act 1988 to the extent that this is applied to its charitable objects. No tax charge arises in respect of the year ended 31 March 2021 (2020 - £nil).
| 12. Fixed Assets Computers at cost: At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for year At 31 March 2021 Net book value 31 March 2021 |
Total 2021 £ 5,519 18,890 _ 24,409 1,840 8,137 __ 9,977 _____ 14,432 |
|---|---|
Page 14
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
| 13. | Debtors | Total | Total |
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Contract Income | 48,696 | 90,344 | |
| _____ | _____ | ||
| 48,696 | 90,344 | ||
| _____ | _____ | ||
| 14. | Creditors:Amounts falling due within one year | Total | Total |
| 2021 | 2020 | ||
| £ | £ | ||
| Grant overpaid | 10,000 | - | |
| PAYE and NI | 10,652 | 22,790 | |
| Deferred income | 29,660 | 28,664 | |
| Other Creditors | 41,274 | 17,562 | |
| _____ | _____ | ||
| 91,586 | 69,016 | ||
| _____ | _____ |
15. Restricted Funds
| Lloyds Bank Foundation Notts Police and Crime Commissioner Local Improvement Scheme Mansfield BS Foundation Building Better Opportunities Big Lottery (Communi-Tea) Nottingham Police VRU Lloyds Bank Foundation Notts Police and Crime Commissioner Local Improvement Scheme Mansfield BS Foundation Building Better Opportunities Big Lottery (Communi-Tea) Nottingham Police VRU |
Balances b/fwd £ 9,491 - - 3,481 - - - 12,972 Balances b/fwd £ 9,491 - 2,375 - - - - 11,866 |
Incoming Resources 2021 £ - 25,000 6,750 12,600 56,369 113,404 98,920 313,043 Incoming Resources 2020 £ 22,778 11,000 9,000 9,000 78,350 107,041 22,852 260,021 |
Resources Expended 2021 £ 9,491 25,000 6,750 16,081 56,369 113,404 98,920 326,015 Resources Expended 2020 £ 22,778 11,000 11,375 5,519 78,350 107,041 22,852 258,915 |
Balances c/fwd £ - - - - - |
|---|---|---|---|---|
| - | ||||
| Balances c/fwd £ 9,491 - 3,481 - - |
||||
| 12,972 |
Page 15
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
15. Restricted Funds (continued)
Lloyds Bank Foundation grant was to fund the Director’s salary.
Nottinghamshire Police and Crime Commissioner grant was in respect of Reduce (Offending) Rebuild (Lives) project.
The Local Improvement Scheme grant was for the healthy living project.
The Mansfield BS Foundation grant was for computers.
The Building Better Opportunities is for the Towards Work Programme funded by the Lottery and European SocialFund
Big Lottery (Communi-Tea) funding is for the mental health, mentoring and employability project “Communi-Tea”.
Nottingham Police VRU funding is for the custody suite programme.
16. The assets and liabilities of the charity at 31 March 2021 are represented by the funds as detailed below:
| w: | |||
|---|---|---|---|
| Total | Restricted | Unrestricted | |
| Funds | Funds | ||
| £ | £ | £ | |
| Fixed Assets | 14,432 | 14,432 | |
| Current Assets | 153,643 | - | 153,643 |
| Current Liabilities | (91,586) | - | (91,586) |
| _____ | _____ | _____ | |
| 76,489 | - | 76,489 | |
| _____ | _____ | _____ |
The assets and liabilities of the charity at 31 March 2020 are represented by the funds as detailed below:
| Total | Restricted | Unrestricted | |
|---|---|---|---|
| Funds | Funds | ||
| £ | £ | £ | |
| Fixed Assets | 3,679 | 3,679 | |
| Current Assets | 201,783 | 12,972 | 188,811 |
| Current Liabilities | (69,016) | - | (69,016) |
| _____ | _____ | _____ | |
| 136,446 | 12,972 | 123,474 | |
| _____ | _____ | _____ |
Page 16
THE INSPIRE AND ACHIEVE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 (Continued)
17. Contingent Liabilities
In accordance with normal practice, the terms of certain grants and donations may result in repayment of all or part of the amounts receivable if the conditions of that income are not met. The income may be subject to retrospective checks and audits undertaken by or on behalf of the income providers. To the extent that conditions are unable to be met, grants or donations may be repayable. The directors do not believe that any material amounts will need to be repaid in respect of income included in these accounts.
Page 17