Registered number: 06848897 Charity number: 1137278
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 8 |
| Independent Examiner's Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 - 12 |
| Notes to the Financial Statements | 13 - 25 |
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2023
| Trustees | Jane Jones, Chair |
|---|---|
| Luke Blair, Trustee | |
| Clare Marshall-Hardy, Trustee (appointed 6 June 2022) | |
| Daniel North, Trustee (resigned 6 June 2022) | |
| Company registered number 06848897 Charity registered number 1137278 Registered office 4 Market Place Southwark Park Road London SE16 3UQ Accountants and Independent Examiner Martin Bailey FCA Goodman Jones LLP Chartered Accountants 29/30 Fitzroy Square London W1T 6LQ Bankers CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ Cooperative Bank PO Box 101 1 Balloon Street Manchester M60 4EP |
Page 1
(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2023
The Trustees present their Annual Report together with the financial statements of the Charity for the year 1 June 2022 to 31 May 2023. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Charity also operates under the name Siblings Together
Objectives and activities
a. Executive Summary
Siblings Together continue our work in promoting the rights of children and young people in care for regular and meaningful contact with their siblings. We also strengthen friendships, family, identity, belonging and manage the pain of separation.
Being put into care can be a traumatic experience for many children and young people but then being separated from your siblings can add a whole new level of distress. Although it is recognised that siblings who are separated should have regular contact with each other there is no statutory requirement for local authorities to make this happen and this contact is often over looked by social workers who are under pressure to deliver statutory obligations.
Currently there is over 80,000 children residing in local authority care across England and Wales and it is estimated that over 50% of these children continue to be placed separately from their brothers and sisters. Siblings Together is the only charity in the UK that works to ensure children have regular contact with their siblings helping them to make life long memories and connections.
Page 2
(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Objectives and activities (continued)
b. Highlights of 2022/23
Activities during this period were predominantly focussed between our Siblings Barge trips, and our creative retreats for Careleavers, followed by more weekend barge trips meeting up together, sharing creative work produced at the retreats together, over the period of many months.
We had come across a wonderful new centre Gorsefield based in the rural heart of Essex, which was thankfully partly a nature reserve and an ideal retreat location. It was used by many schools from the Tower Hamlets area, owned by the Local authority itself.
Funding had yet again been a very challenging year for our small charity, we had also (through lack of funds) lost some much loved people/specialists who had journeyed alongside our charity for a number of years. They had contributing their inspirational presence, care and love into the programmes we created and ran, we take great care to bring them to fruition. There is no quick way to creating a retreat the only way is through having those very important conversations with Careleavers themselves, looking at what their expectation might be, what will help them positively and creatively.
Following 2 years of an enduring a pandemic, many had faced serious isolation, having few opportunities to join with others, or be creative, have fun and begin begin to think where they wish to be heading in life. Connecting with others together, making new networks friends and meeting others in a similar situation is a welcome a highlight for many.
Most are aspiring artists, although we do not insist on this, we encourage people to using the skills they learn as a tool to navigate their way through and to expressing their dreams and aspirations. To share their ideas, their challenges too in finding a positive path they need to follow. Many young people with families would have this support within their support network, but for young Careleavers such a space rarely exists, hence making this space powerful special and meaningful is at the heart of what we do.
We found fantastic new artists poets and musicians who are enthusiastic to join us again on future retreats, we also enlisted one of our long time dedicated volunteers who is a specialist in breathing yoga and relaxation. The team we put together worked extremely well together, complimenting one another’s workshops and the culmination of the retreat was a sharing of work, with an exhibition of art work, creation of ‘poetry sound scape recording’ where each artist was reading out loud their own writing and poems one after the other, edited to
Page 3
SIBLINGSTOGETHER LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Objectives and activities (continued)
ensure each was heard next to another artist. it was very power indeed. The participants gained a wonderful sense of connectedness with each other and with themselves, using this pace to explore and aspire to think beyond their everyday challenges, and to build a strong sense of self-reliance, empowered by their commitment to their own futures.
Incorporating therapeutic reflective groups, enable the groups to get to know one another better and it felt safer. Rather than disappear into our own little worlds with telephones and other distractions we can recognise the importance of making time for connections, allowing for a group discussion and ongoing reflections to flow freely.
We hugely appreciated funding support from The Ashley Family Foundation and others to help make these trips possible, they are much appreciated and highly regarded, along with other amazing supportive donations which made it into a huge success and terrific place to be for Careleavers. This enabled us to hire fantastic artists and specialist teachers, who have empathy and understanding for our community.
Our follow up barge weekends were hugely rewarding and exciting, people began to have a healthy expectation and understanding of teamwork, where we cooked together and skippered the boat along the Regent canal waterways, along to Hackney and the river Lee. The pirates Castle youth centre has always been a place where our charity and young people have felt at home and welcomed, we are grateful for their ongoing support in allowing our charity a reduced rate for the hire of their in incredible Pirate Prince Barge.
Page 4
(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Objectives and activities (continued)
We accomplished the creative connections residentials, and feel very proud to be able to learn with each year, how we can build upon these, make them as enriching an experience as possible. They leave young people with a lasting positive experience which can be transformative and life changing for all who attend.
For the 36 Careleavers who were able to join us at different times, including the following the week long residential was something many expressed a wish to join again. If we can secure funding we will continue to make every effort to facilitate these spaces. A space to build inner resilience through the vehicle of creativity, for the great many challenges ahead in their lives, but they also have gained new connections also.
Our siblings Barge trips were vitally important to continue making it possible for the many siblings’ groups who are desperate for that special time for a short holiday together. We were very fortunate to be able to offer and run two siblings barge trips for our groups with 16 siblings total, enjoying a special holiday together. There is always the experience of learning all about skippering the barge, to keep in their memories for a lifetime.
It’s an enjoyable learning experience for all, with ample time for team work and sharing a space together!, thankfully with plenty of space if the need arises, learning about their siblings is an important part of the journey, which also makes this a vital experience, which is a terrific investment for their future.. Negotiation and reparation are crucial aspects of what we aim to promote during our trips which will help them build stronger bonds and moving into a healthy interactions together.
Many young people have experienced neglect and trauma, it takes these very positive times together and positive opportunities of interacting in a natural way together, which help re-build these highly important, potentially lifelong bonds, family connections, friends for life.
Once again our nationwide group of quilters have done us very proud indeed, as they do each and every year, by creating the most incredibly joyful and beautiful handmade treasured blankets, which are gifted to all of the siblings and Careleavers which we work with.
These quilts bring exceptional comfort and warmth, together with a sense of care and love to young people’s lives, in fact brightening children’s lives as well as connecting them to each other through these wonderful comforting gifts, as always, treasured for a lifetime. They are unique and special gifts in which all young people immediately understand to be for them forever.
Page 5
(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Objectives and activities (continued)
We have met the most amazing new staff and volunteers across the year, who have made our entire year so special and enjoyable, we hope to keep in contact for future adventures together will all young people. The year has not been without it’s huge challenges, struggled throughout this period financially funding being spars and not easily available. We continue to try to secure funding to have in place a strong focussed team, we will keep trying, apply to funders to continue our much loved and much needed work.
We’ve made a concerted effort to recruit many new volunteers via team London website, with view to starting our buddying project. Looking to hire a highly experienced co-ordinator supervisor in the not too distant future.
We have also began meeting and having very positive discussions with the Ofsted Inspectorate management team in London, for social care. Hoping for new opportunities for our charity to work more closely in the very near future, in areas where we can have the most positive and lasting impact, recognising that as a small charity we can be stronger make more impact tackling these issues together, with many different groups who want to take the message out there.
Fundraising : Has been a big challenge, more so during these past few years, not surprising as we have seen that so many places had closed their doors, or stopped responding to requests to for help, which has impacted our charity severly. The siblings together team although small as always became smaller, two of our staff were furled and for almost an entire year the running of the Charity was left to just two people to manage, which at times became nearly impossible. The team we had during the previous two years had become disbursed, compounded by the lack of funding meant that when they could return to work again we were unable to renew annual contracts due to lack of funds. We sadly lost some really dedicated and very special people during this period. Something we are determined to rebuild and strive for once again as we begin to kickstart projects and funding initiatives.
The reality is that many small charities were/are continuing to struggle is so many areas, as we have been for some time now, we have been fortunate to have survived in many ways, we know we have a uphill journey to bring back into action some of the great projects which we are dedicated to and focussed upon.
Networking with other charities and organisations to highlight these issues and building upon more training in services and foster etc is really important area for us to focus upon in the future.
Page 6
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity 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 statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
Our goal continues to be improving funding levels year on year so that we can continue to extend our reach to those whom could benefit from our programs.
Fundraising remains extremely challenging but we continue to consider new sources of fundraising, as well as maintaining relationships with our exisiting funders.
b. Reserves policy
The Trustees have agreed a reserves policy of aiming to maintain reserves equal to approximamtely 4 months of running costs, which would equate to roughly £60k. Unrestricted reserves at the balance sheet date were £12,607 (2022: £32,367). Rebuilding free reserves is a priority for the Trustees. The Charity is grateful to those funders that provided unrestricted funding in the year.
Restricted funds at the balance sheet date were £22,835 (2022: £47,828).
Structure, governance and management
a. Constitution
Siblingstogether Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
c. Organisational structure and decision-making policies
The organisational structure is headed by the Board of Trustees which determines strategy and policy. Implementation of such policies and operational plans is delegated to the Chief Executive Officer and her staff. Staff execute policy decisions in close consultation with the Trustees. Staff are delegated authority for the day to day management of Siblings Togethers’ projects, campaigning and fundraising activities. The Charity works in close co-operation with other reputable organisations and charities with similar objectives.
Page 7
SIBLINGSTOGETHER LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2023
Structure, governance and management (continued)
d. Remuneration policy
The Board of Trustees aim to pay staff a fair salary that is competitive within the charity sector and proportionate to the complexity of each role. The Trustees are responsible in line with our charitable objectives based on the following principle:
- Pay our staff an appropriate salary to attract and retain people with the leadership, experience knowledge and skills required to lead the transformation we are undergoing.
An annual review of salaries will be undertaken by the Chief Executive, which will take into consideration the rate of inflation over the year and the availability of funds to Siblings Together.
e. Risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular, those related to the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Jane Jones Chair Date: 28-02-24
Page 8
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2023
Independent Examiner's Report to the Trustees of Siblingstogether Limited ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 May 2023.
Responsibilities and Basis of Report
As the Trustees of the Charity (and 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 Charity 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 the Charity's accounts 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 Charity 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 28-02-24
Martin Bailey FCA Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ
Page 9
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2023
| Note Income from: Donations and legacies 4 Charitable activities 5 Other trading activities Investments 6 Total income Expenditure on: Raising funds Charitable activities 7 Total expenditure Net (expenditure)/income Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2023 £ 36,011 - - 389 36,400 6,175 33,641 39,816 (3,416) (16,344) (19,760) 32,367 (19,760) 12,607 |
Restricted funds 2023 £ 3,000 1,600 - - 4,600 - 45,937 45,937 (41,337) 16,344 (24,993) 47,828 (24,993) 22,835 |
Total funds 2023 £ 39,011 1,600 - 389 41,000 6,175 79,578 85,753 (44,753) - (44,753) 80,195 (44,753) 35,442 |
Total funds 2022 £ 96,595 2,600 700 - 99,895 |
|---|---|---|---|---|
| 7,475 77,914 85,389 |
||||
| 14,506 - 14,506 |
||||
| 65,689 14,506 80,195 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 25 form part of these financial statements.
Page 10
SIBLINGSTOGETHER LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 06848897
BALANCE SHEET AS AT 31 MAY 2023
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
14,598 33,556 48,154 (14,685) |
2023 £ 1,973 1,973 33,469 35,442 35,442 35,442 22,835 12,607 35,442 |
15,803 80,085 95,888 (18,695) |
2022 £ 3,002 |
|---|---|---|---|---|
| 3,002 77,193 |
||||
| 80,195 | ||||
| 80,195 | ||||
| 80,195 | ||||
| 47,828 32,367 |
||||
| 80,195 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
Page 11
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee) REGISTERED NUMBER: 06848897
BALANCE SHEET (CONTINUED) AS AT 31 MAY 2023
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Jane Jones Chair
Date: 28-02-24
The notes on pages 13 to 25 form part of these financial statements.
Page 12
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
1. General information
SiblingsTogether Limited is a charitable company registered in England and Wales. The registered office is 4 Market Place, Southwark Park Road, London, SE16 3UQ.
The activities of the Charity are set out in the Trustees' Report.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Siblingstogether Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Charity's functional currency is Sterling. All figures in these financial statements have been rounded to the nearest £1.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
2.3 Going concern
The Charity is reliant upon public donations as well grants from Trusts, Foundations, and some local authorities. The Trustees continue to prioritise fundraising and in particular for unrestricted funds. After making appropriate enquiries and after considering the future plans of the Charity, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis in preparing the financial statements.
2.4 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Page 13
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
2. Accounting policies (continued)
2.5 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank.
2.7 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and in relation to overall management of the Charity.
Expenditure on raising funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activites and Governance costs are costs incurred on the Charity's educational operations, including supporting costs and costs relating to the governance of the company apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
Computer equipment - 20%
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 14
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
2. Accounting policies (continued)
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.12 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.13 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Page 15
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
| 4. Income from donations and legacies Unrestricted funds 2023 £ Donations 36,011 Total 2022 83,516 5. Income from charitable activities Contribution from local authorities Total 2022 |
Restricted funds 2023 £ 3,000 13,079 Restricted funds 2023 £ 1,600 2,600 |
Total funds 2023 £ 39,011 96,595 Total funds 2023 £ 1,600 2,600 |
Total funds 2022 £ 96,595 |
|---|---|---|---|
| Total funds 2022 £ 2,600 |
|||
Page 16
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
6. Investment income
| Unrestricted funds 2023 £ Investment income 345 Investment income - local cash 44 389 |
Total funds 2023 £ 345 44 389 |
Total funds 2022 £ - - - |
|---|---|---|
7. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2023 £ Charitable activities 33,641 Total 2022 65,236 |
Restricted funds 2023 £ 45,937 12,678 |
Total 2023 £ 79,578 77,914 |
Total 2022 £ 77,914 |
|---|---|---|---|
Page 17
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
8. Analysis of expenditure by activities
| Charitable activities Total 2022 |
Activities undertaken directly 2023 £ 75,969 73,888 |
Support costs 2023 £ 3,609 4,026 |
Total funds 2023 £ 79,578 77,914 |
Total funds 2022 £ 77,914 |
|---|---|---|---|---|
Page 18
(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
8. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Food Travel and subsistence Activities Venue hire Materials Rent Insurance Printing, postage and stationery Training Bank charges Computer software Sundry Professional fees Casual labour Memberships Admin support |
Total funds 2023 £ 50,082 2,437 1,175 - 7,800 135 6,177 1,202 387 180 124 2,295 13 757 500 - 2,705 75,969 |
Total funds 2022 £ 53,221 541 156 208 3,510 1,108 6,297 1,180 741 180 197 2,583 136 643 1,020 172 1,995 73,888 |
|---|---|---|
Analysis of support costs
| Depreciation Independent examiner's fees |
Total funds 2023 £ 1,029 2,580 3,609 |
Total funds 2022 £ 1,806 2,220 4,026 |
|---|---|---|
Page 19
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 49,069 - 1,013 50,082 |
2022 £ 50,887 1,216 1,118 |
|---|---|---|
| 53,221 |
The average number of persons employed by the Charity during the year was as follows:
| 2023 | 2022 |
|---|---|
| No. | No. |
| 2 | 3 |
No employee received remuneration amounting to more than £60,000 in either year.
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 May 2023, no Trustee expenses have been incurred (2022 - £NIL) .
Page 20
SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023 |
|
|---|---|
| 11. Tangible fixed assets Cost or valuation At 1 June 2022 At 31 May 2023 Depreciation At 1 June 2022 Charge for the year At 31 May 2023 Net book value At 31 May 2023 At 31 May 2022 |
Computer equipment £ 12,703 12,703 9,701 1,029 10,730 1,973 3,002 |
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SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
12. Debtors
| Due within one year Trade debtors Prepayments and accrued income |
2023 £ 2,373 12,225 14,598 |
2022 £ 3,613 12,190 |
|---|---|---|
| 15,803 |
13. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2023 £ 694 851 197 12,943 14,685 |
2022 £ 5,985 909 196 11,605 |
|---|---|---|
| 18,695 |
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(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
14. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Restricted funds Camps MADS Questors Buddying Creative Connections General Siblings activities/projects Total funds |
Balance at 1 June 2022 £ 32,367 3,657 12,134 3,384 5,491 1,286 21,876 47,828 80,195 |
Income £ 36,400 4,600 - - - - - 4,600 41,000 |
Expenditure £ (39,816) (4,326) (2,105) - - (39,506) - (45,937) (85,753) |
Transfers in/out £ (16,344) - - - - 38,220 (21,876) 16,344 - |
Balance at 31 May 2023 £ 12,607 |
|---|---|---|---|---|---|
| 3,931 10,029 3,384 5,491 - - 22,835 |
|||||
| 35,442 |
Siblings Together seeks funding for both restricted activities centred on our key activites such as residential camps and monthly activity days, and for core funding allowing for the development of new projects and the running of the Charity. If restricted funding doesn't fully cover the costs of specific project activities a transfer is made from core funding to ensure that they are fully funded.
The transfers to the Creative Connections restricted fund represent use of funds given towards activity costs of the Charity (but not specifically determined) and a transfer from unrestricted to cover a shortfall on the fund. In the prior year, the transfer represents the reclassification of staff costs originally allocated to unrestricted funds but that related to the Camps project.
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SIBLINGSTOGETHER LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
| 14. Statement of funds (continued) Statement of funds - prior year Balance at 1 June 2021 £ Unrestricted funds General Funds 17,171 Restricted funds Camps - MADS 18,516 Questors 3,384 Buddying 5,491 Creative Connections 2,639 General Siblings activities/projects 18,488 48,518 Total funds 65,689 |
Income £ 84,216 8,600 - - - - 7,079 15,679 99,895 |
Expenditure £ (72,711) (4,943) (6,382) - - (1,353) - (12,678) (85,389) |
Transfers in/out £ 3,691 - - - - - (3,691) (3,691) - |
Balance at 31 May 2022 £ 32,367 |
|---|---|---|---|---|
| 3,657 12,134 3,384 5,491 1,286 21,876 47,828 |
||||
| 80,195 |
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(A Company Limited by Guarantee)
SIBLINGSTOGETHER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2023 £ Tangible fixed assets 1,973 Current assets 25,319 Creditors due within one year (14,685) Total 12,607 Analysis of net assets between funds - prior year Unrestricted funds 2022 £ Tangible fixed assets 3,002 Current assets 48,060 Creditors due within one year (18,695) Total 32,367 |
Restricted funds 2023 £ - 22,835 - 22,835 Restricted funds 2022 £ - 47,828 - 47,828 |
Total funds 2023 £ 1,973 48,154 (14,685) 35,442 Total funds 2022 £ 3,002 95,888 (18,695) 80,195 |
|---|---|---|
16. Related party transactions
Other than as disclosed elsewhere in the financial statements, there were no transactions with related parties requiring disclosure in either the current or previous year.
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