REGISTERED COMPANY NUMBER: 07037120 REGISTERED CHARITY NUM8ER: 1133652 Report of the Trustees and Unaudited F•nancial Statements for the Year Ended 31 March 2021 Sanibel Psychological Therapies Finsbury Robinson Limited 237 Westcombe Hill Blackheath London SE3 7DW *A4IN84VQ4 0411212021 COMPANIES HOUSE A10 #95 Sanibel Psythological Therapies Contents of the Financial Statements for the Year Ended 31 March 2021 Page Reference and Adrninistrative Oetails Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Flnanclal SLthments 8 to 14 Detailed Statement of Financial Activities IS to 16 5anibel Psyrhological Therapie5 Reference and Administrative Details for the Year Erbded 31 March 2021 TRUSTEES Ms G Glover MrACRoss COMPANY SECRETARY Mr P A Hingston REGisfERED OFFICE Lily House 11 The Shrubberies George Lane South Woodford London E18 IBD REGISTERED COMPANY NUMBER 07037120 REGISTERED CHARITY NiIM8ER 1133652 INDEPENDENT EXAMINER Finsbury Robinson Limiled 237 Westcombe Hill Blackheath London SE3 7DW SOLICITORS Bircham Dyson Bell LLP 50 Broadway London SWIH OBL Pa8e I Sanibel Psychological Therapies Report of the Trustees for the Year Ended 31 March 2021 The trustees who are also directors of the Charity for the purposes of the Companies Act 21XJ6, present their report with the financial statement5 of the charity for the year ended 31 March 2021. The trustee5 have adopted the provisions of Accounting and Reporting by Charittes.. 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 IFRS 1021 (effective l January 20191. OBJEcfivES AND ACTIVITIES Significant artivities Prior to the stsrt of the financTral year the charity had been working to explore grant-making èctivities within existing objects while also considering the expansion of lis objects to include support for the sport of boxing. Those explorations were curtailed by the government's decision to implement wide-ranging social restrictions in response to the COVID-19 pandemic. Such restrirtions were introduced on an ad hoc basis and modified throughout the year, often with limited notice. Although the restrictions impacted every aspect of civil society, it quickly became clear that boxing gyms were especially adversely affected. making it imp055ible for the charity to pursue its goal of making carefully-focused grants to support and expand projects with proven long-term viabi14ty- The charity therefore concluded that the interests of the public were best 5eNed by preserving its financial assets until such a time as government poliry is sufficientty stable and coherent to allow for considered longer-term planning decision5. Public benefit The trustees tonfirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due reEard to the public benefit gLbidance published by the Charity Commission for England and Wales. FINANCIAL REVIEW Financial position The charity continued to benefit from a reliable investment income stream through its earlier decision to retain Sarasin & Partner LLP, a specialist Trnvestment manaEer for charities. The charity ended a volatile year with a capital gain of £241,294, ensuring the charity remains in a strong financial position. Reserves policy The charity's intention remains to expend reserves in order to fund appropriate individuals and charities engaged in activities consistent with the charity's existin8 and future objects. Going concern After making appropriate enquiries. the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statement5. Further details regarding the adoption of the going concern basis can be found in Accounting Policies. FUTURE PLANS As the charity had previously made the decision to focus exclusively on grant-making activity it will now be necessary to assess the impact of government policy in response to COVID - 19 upon potential donor receipts and beneficiaries before developing future plans. Page 2 Sanibel Psychological Therapies Report of the Trustees for the Year Ended 31 March 2021 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document. a deed of trust. ond constitutes a limited companv. limited by guarantee. as defined by the Companies Act 2(K16. Charity constitution The company is a charitable company limited by guarantee. incorporated in England by Articles of Association on 9 October 2009. The charity's objects are to promote and protect well-being and positive mental health through the provi5i0n of psychological therapy, psycho-educational programmes. coaching and assistance to access employment, education and training. Organi￿tional strurture The company is managed by the Board of Directors, elected under the terms of the Articles of Association. Directors are required to hold significant experience in a professional field and to demonstrate sympathy and commitment to the compan￿5 activities. In addition to meeting the above requirements, new directors meet with the Chief Executive to familiari5e themselves with the activities of the company before shadowing Board meetings. Subsequent election is by unanimous vote at a properly convened meeting. The Board meets at least four times a year. The daily operational, clinical and financial activities of the charity are delegated to the Chief Executive. who attends all Board meetings. Rlsk Management The Directors have assessed the major risks to which the company is exposed, in particular those related to the operations and finances if the company. The Directors are sat15fied that systems are in place to mitigate the company's exposure to these major ri5k5.appropriate controls are in place to provide reasonable assurance agabnst fraud and error. Approved by order of the board of trustees on 23 October 2021 and signed on its behalf by.. Ms G Glover- Trustee Pa8e 3 Independent Examinerfs Report to the Trustees of 5anibel Psychological Therapies Independent examinerfs report to the trustees of Sanibel Psychological Therapies I'the Cornpany,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. Responsibilities and basis of report As the charity'5 trustees of the Company land a150 its directors for the purposes of company lawl you are responsible for the preparation of the account5 in accordance with the requirements of the Companies Act 2￿61'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 21XJ6 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 I'the 2011 Act'l. In carrying out my examination I have followed the Oirections given by the Charity Commission under section 145151 {bl of the 2011 Act. Independent exarniner'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.. accountin8 records were not kept in respect of the Company as required by section 386 of the 2(M)6 Act,. or the accounts do not accord with those ￿cords.. or the accounts do not comply with the accounting ￿quIrementS of section 396 of the 2006 Act other than èny 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 èccordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to harities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)1- 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. Finsbury Robinson Limited 237 Westcombe Hill Blackheath London SE3 7DW 23 October 2021 Page4. Sanibel Psychologlcal Therapies Ststement of Financial Artiviti for the Year Ended 31 March 2021 31.3.21 Unrestricted fund 31.3.20 Total fund5 Notes INCOME AND ENDOWMENTS FROM Other trading activities Investment income 770 41,702 41.393 Total 41.393 42,472 EXPENDITURE ON Charitable activities General 65.511 95,280 Net 8ains/llosses1 on investments 241,294 158,8941 NET INCOMEI(EXPENOITUREI 217,176 1111,7021 RECONCILIATION OF FUNDS Total fvnd5 brought forward 1,268,323 1,380.025 TOTAL FUNDS CARRIED FORWARD 1.485,499 1,268,323 The note5 fomi part of these finantial statements Page 5 Sanibel Psychological Therapies Balance Sheet 31 March 2021 31.3.21 Unrestricted fund 31.3.20 Total funds Notes FIXED ASSETS Investments 1.379,947 1,138.653 CURRENT ASSETS Debtors Cash at bank io 152 109.000 150 133,117 109,152 133.267 CREDITORS Amounts fallinE due within one year li 12281 1237) NET CURRENT ASSETS 108,924 133.030 TOTAL ASSETS LESS CURRENT UABILITIES 1,488,871 1,271.683 ACCRUALS AND DEFERRED INCOME 12 13,3721 13,3601 NET ASSETS 1,485,499 1,268,323 FUNDS Unrestricted funds 13 1,485,499 1.268.323 TOTAL FUND5 1.485.499 1,268,323 The charitable company is entitled to exemption from audit under Section 477 of the Companie5 Act 2Tr)6 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial staiements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2￿6. The trustees acknowledge their ￿spOnSIbl11t1eS for lal ensuring that the charitable company keeps attounting retords that comply with Sections 386 and 387 of the Companies Acr 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable tompany as at the end of each financial year and of its surplus or deficit for each financial year in actordance with the requirements of Section5 394 and 395 and which otherwise comply with the requirements of the Companies Act 2CI)6 relating to financial stalements. so far as applicable to the charitable company. Ibl The notes form part of these financial statements Page 6 continued... Sanibel Psychological Therapies Balance 5heet- continued 31 March 2021 These financial statements have been prepared in accordance with the provision5 applicable to charitable tompanies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 23 October 2021 and were signed on its behalf by.. Ms G Glover- Trustee The notes form part of these financial statemeii15 Page 7 Sanibel Psychological Therapies Notes to the Financlal Statements for the Year Ended 31 March 2021 ACCOUNTING PIXICIES Basis ol 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 IFRS 1021 'Accounting and Reporting bv 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 Irelènd IFRS 1021 (effective l Januèry 20191.. 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. with the excepiion of investments which are included at market value. as modified by the revaluation of certain assets. 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 th.e amount of the obligation can be measured reliably. Expenditure is ccounted 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. Grants offered subject to conditions whbch have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computerequipment 33% on tost Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted fLbnds tan be used in accordance with the charitable objectives at the discretion of the trustees. Restrirted funds can only be used for particular restricted purposes within the objects of the charity. Restrittions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the natu￿ ènd purpose of each fund is included in the notes to the financial statements. Page 8 continued. Sanibel Psychological Therapies Notes to the Financial Statements- continued for the Year Ersded 31 Marth 2021 ACCOUNTING POLICIES- continued Pension costs and other post-retirement benefrts The charitable company operates a defined contribution pension scheme. Contribution5 payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. OTHER TRADING AcnwnES 31.3.21 31.3.20 Patient fees 770 INVESTMENT INCOME 31.3.21 31.3.20 Dividends received Deposit account interest 41,191 202 41,198 504 41,393 41,702 NET INCOMEIIEXPEIIDITURE) Net incomellexpenditurel is stated after chargingllcreditingl.. 31.3.21 31.3.20 Depreciation - owned assets 115 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. Tru5tees' expenses There were no trustees. expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. Page 9 continued... Sanibel Psychological Therapies Note5 to the Financial Statements- continued for the Year Ended 31 March 2021 STAFF COSTS The average monthly number of employee5 during the year was as follows- 31.3.21 31.3.20 Stsff Wages No employees received emoluments in ex￿$5 of £60.0W. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Other trading activities Investment intome 770 41,702 Totsl 42.472 EXPENOITURE ON Charitable activities General 95.280 Net gainslllossesl on investments 158.8941 NET INCOMEI{EXPENDITURE) {111,7021 RECONCILIATION OF FUNDS Total funds brought forward 1.380.025 TOTAL FUNDS CARRIED FORWARD 1,268,323 Page 10 continued... Sanibel Psychological Thernpies Notes to the F•nancial Ststements- continued for the Year Ended 31 March 2021 TANGIBLE FIXED ASSETS Computer equipment COST At l April 2020 and 31 March 2021 14,209 DEPRECIATION At l April 2020 and 31 March 2021 14.209 NET BOOK VALUE At 31 March 2021 At 31 March 2020 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2020 Revaluations 1,138,653 241,294 At 31 March 2021 1,379,947 NET BOOK VALUE At 31 March 2021 1,379,947 At 31 March 2020 1,138,653 There were no investment assets outside the UK. Cost or valuation at 31 March 2021 is represented by= Listed investments Valuation in 2019 Valuation in 2020 Valuation in 2021 1,197,547 158,8941 241,294 1,379.947 Page 11 continued... Sanibel Psychological Therapies Notes to the Financial Statements- continued for the Year Ended 31 March 2021 10. DEBTORS: AMOUNTS FALLING OUE WITHIN ONE YEAR 31.3.21 31.3.20 Prepayment5 152 150 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.21 31.3.20 Trade creditor5 Social security and other taxes 52 176 52 185 228 237 12. ACCRUALS AP40 DEFERRED INCOME 31.3.21 31.3.20 Accruals and deferred intome 3.372 3,360 13. MOVEMENT IN FUNDS Net movement in funds At 31.3.21 At 1.4.20 Unrestricted funds General fund 1.268.323 217,176 1,485,499 TOTAL FUND5 1,268,323 217,176 1,485,499 Net movement in funds. included in the above are as follows: Incoming resources Resources expended GaFns and losses Movement in funds Unrestricted fund5 General fund 41.393 {65,5111 241,294 217.176 TOTAL FUNDS 41,393 165,Slll 241,294 217.176 Page 12 ontinued... Sanibel Psychological Therapies Notes to the Financial Statements- continued for the Year Ended 31 March 2021 13. MOVEMENT IN FUNDS- continued Cornparatives for movement in funds Net movement in funds At 31.3.20 At 1.4.19 Unrestricted funds General fund 1.380.025 1111,7021 1,268,323 TOTAL FUNDS 1.380,025 1111.7021 1,268,323 Comparative net movement in funds, included in the above are as follows= Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 42.472 195.280) 158,8941 1111,7021 TOTAL FUNDS 42.472 195.280) 158.8941 1111,7021 A current year 12 months and prior year 12 month5 combined position is as follows- Net movement in funds At 313.21 At 1.4.19 Unrestrirted funds General fund 1,380,025 105.474 1.485,499 TOTAL FUNDS 1.380.025 105,474 1,485,499 Page 13 continued... Sanibel Psychological Therapies Notes to the Financial Stattments- tontinued for the Year Ended 31 March 2021 13. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses in funds Unrestricted fvnds Gener31 fund 83,865 (160,7911 182.4CQ 105,474 TOTAL FVNOS 83.865 1160.7911 182,400 105,474 14. RELATED PARry DISCLOSURES There were no related party transactions for the year ended 31 March 2021. Page 14 Sanibel Psychological Therapies Detailed Statement of Financial Artivities for the Year Ended 31 March 2021 31.3.21 31.3.20 INCOME A140 ENDOWMENTS Other trading artlvltles Patient fees 770 Investment income Dividends received Deposit account interest 41.191 202 41,198 504 41.393 41,702 Total Incomlng resources 41.393 42,472 ÉXPENDITURE Charitable activitie5 Wages Pensions Rates and water Insurance Professional books & joumals Telephone Postage and stationery Travel & Subsistence Outreach project Grants to institutions 18,628 40,395 18,633 40,396 11,4581 652 427 433 732 771 4.000 25,000 61.047 88.861 Support costs Management Data Protection Éntertaining Sundries Depreciation of tangible and heritage assets 1.239 644 53 21 115 21 2.051 This page does not form part of ihe statutory financial Statements Page 15 Sanibel Psychological Therapies Oetsiled Statement of Financial Artivities for the Year Ended 31 March 2021 31.3.21 31.3.20 Management Finance Bank charges Inforniation technology Computer costs I,￿3 Governance cost5 Accountoncy and legal fees 3,372 3.360 Total resources expended 65,511 95,280 Net expenditure 124,1181 {52.8081 This page does not form part of the statutory financial statements Page 16