**REGISTERED COMPANY NUMBER: 07381550 REGISTERED CHARITY NUMBER: 1139233** **RECOOP (COMPANY LIMITED BY GUARANTEE)** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** **RECOOP** ## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** |**CONTENTS**|**Pages**| |---|---| |Company information|2| |Annual report|3 to 6| |Independent auditor
s report to the members of Recoop|7 to 10| |Statement of financial activities including income and expenditure account|11| |Balance sheet|12| |Notes to the financial statements|13 to 21| - 1 - ## **RECOOP** ## **COMPANY INFORMATION** |**TRUSTEES AND DIRECTORS:-**|Lorraine Lloyd| |---|---| ||Roderick Knight ( resigned in Jan 21)| ||Catherine Morgan| ||Ryan Harman (resigned Jun 20)| ||Leah Warwick| ||Dylan Phillips| ||Caroline Williams (resigned in Oct 20)| ||Kerryn Huck (appointed Oct 20)| ||David Bailey (appointed Oct 20)| ||Dave Nicholson (appointed Oct 20)| ||Della Cannings (appointed May 21)| ||Prof Helen Codd (appointed May 21)| |**COMPANY SECRETARY:-**|Philip Baker| |**REGISTERED OFFICE:-**|St Swithuns House| ||21 Christchurch Road| ||Bournemouth| ||BH1 3NS| |**REGISTERED COMPANY NUMBER:-**|07381550| |**REGISTERED CHARITY NUMBER:-**|1139233| |**AUDITOR AND BUSINESS ADVISOR:-**|KPMG LLP| ||Gateway House| ||Tollgate| ||Eastleigh| ||SO53 3TG| |**SOLICITOR:-**|Steele Raymond Solicitors| ||Richmond Point| ||43 Richmond Hill| ||Bournemouth| ||BH2 6LR| |**BANKER:-**|Lloyds TSB Bank Plc| ||45 Old Christchurch Road| ||Bournemouth| ||BH1 1ED| - 2 - **RECOOP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021** ## **ANNUAL REPORT** The Trustees present their report and the financial statements for the year ended 31 March 2021, which should be read in conjunction with the information purposes of Company Law. The financial statements have been prepared in accordance with Accounting and Reporting by charities; Statement of Recommended Practice applicable to Charities preparing their accounts with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019 of Ireland and the Companies Act 2006. ## **GOING CONCERN** have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This includes consideration of the impact that Covid-19 may have upon its forecasts and projections, and measures taken to try and limit its potential impact. As the trustees have concluded that it has sufficient resources to enable it to continue in existence, the company continues to adopt the going concern basis in preparing its financial statements. ## **OBJECTIVES AND ACTIVITIES** RECOOP objectives, as defined in the Memorandum of Association, are:- To promote the care, resettlement and rehabilitation of offenders and ex-offenders, in particular those over the age of 50, notably but not exclusively through the provision of support services, advocacy, financial advice, mentoring on issues such as employment and training and advice on housing and health that will enable them to take control of their lives and remain free from offending and prevent them from being socially excluded. Sections G2 and G3 The paragraphs above set out our activities, achievements and performance during the year, which are directly related to the objects and purposes for which the charity exists. The charity achieves its principal objects and purposes through the provision of support and advice to offenders and ex-offenders. These benefits are directly related to the aims of the charity and are fully compliant with Principles 1 and 2 of the Charity Commission Principles on Public Benefit. ## **ACHIEVEMENTS AND PERFORMANCE** During 2020/21, the pandemic curtailed much of the direct face to face delivery of our services. The operational team adapted and continued to support most prison services with telephony support for the most vulnerable. Buddy training programs were adapted into distance learning packages and rolled out across the two clusters. Specific dispensation was obtained from a number of prisons to maintain our Buddy support work. New interventions were developed to help our service users whilst subjected to a restricted regime. These pack. 35 individuals across six prisons have been trained up to National Care Certificate standard to allow them to work as Prison Buddies and help support vulnerable prisoners with health and social care challenges. This prison workforce has been helping many shielding prisoners, working alongside healthcare and prison colleagues during this difficult period. - 3 - ## **RECOOP** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021** In January 2021 we started a new prison service pilot project. We will be developing a new peer supporter training and management project to help those at risk of self-harm or violence. The THREADS project has been funded by HMPPS (Innovation Grant) and will run for two years. Delivery will be in the three Devon prisons and HMP Guys Marsh. The Trustees are extremely grateful for the valuable contribution made by our volunteers who help the charity to achieve its objectives in supporting older prisoner welfare. develop further work across England and Wales over the next year. ## **FINANCIAL REVIEW** The Charity reports a net surplus for the year of £39,567 (2020: £13,890). Total funds at 31 March 2021 were £299,020 of which £299,020 were unrestricted. ## **PRINCIPAL RISKS AND UNCERTAINTIES** is exposed. An annual review of the risk register ensures that the trustees are well informed to arrive at a set of parameters and decisions for the amount of risk they consider to be acceptable. The trustees continue to review and question the reserves policy to establish and agree an appropriate level of reserves. With this information the trustees can make informed choices about the strategic proposals put forward by the Chief Officer. Recent years have been characterised by large scale changes in the criminal justice policy and operating environment which have provided opportunities as well as challenges for voluntary organisations working in criminal justice. There are risks that our activity and work loses its broad reach as budgets are squeezed and policy priorities and emphases shift. This year we again assessed the appropriate level of Recoop reserves. We therefore considered how we could continue to operate in the event of a critical loss of funding. We feel that this is where we are most at risk and therefore most vulnerable. We strongly believe that our work is essential and that there is a longer term need for our services especially with a national Older Prisoner Strategy about to be launched. The prison population projection is forecast to grow from 78,000 to 98,700 by 2026 (MOJ 2021). The older prisoner group remains the fastest growing cohort. Our services will be needed more than ever in the fuutre. However, the uncertainty of voluntary sector funding; the turbulence of external factors; potential delays or cessation in previously relied upon income streams and the potential impact of Covid-19; mean that the trustees feel that an operating reserve needs to provide a core service level plus the cost of an orderly wind down of operations under the most extreme scenario. Therefore, our reserves policy is based on the scenario in which Recoop is faced with a critical loss of funding, making the continuation of the current model untenable, but in which the trustees wish to continue to provide core services to the sector. Forecasting suggests that we would need a minimum of eight months to allow Recoop the time to explore new strategies and income streams to rebuild. Should this approach be adopted and reserves used, consideration will therefore have to be given to increasing the magnitude of reserves over the medium term. Caution, prudence and vigilance will be paramount, whilst operating with lower levels of reserves, so that a decrease in funding, or unplanned or increased expenditure can be accommodated without recourse to reserves. Recoop will continue to monitor this position and a further review will be undertaken in March 2022 to agree - 4 - **RECOOP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021** minimum amount required to execute £299,000 (excluding designated funds of £140,000). The trustees have assessed the going concern basis as at the date this report and accounts are approved. They believe that the level of reserves held (including the flexibility of the use of the designated funds) outlined above and an analysis of the financial risks currently faced gives sufficient assurance to conclude that Recoop continues to be a going concern. The Board has approved setting aside designated reserves of £140,000 in total. £120,000 is committed from the reserves to restructuring the management team over the next 24 months providing the corporate support required 2020 this plan was suspended due to the Covid-19 pandemic and will be reviewed again once the potential long-term impact on the financial security of the organisation becomes clearer. Recruitment is planned for 2021. The remaining £20,000 is designated to independently evaluate new services. This will enable RECOOP to increase the quality of the products and services being developed as well as providing evidence of both cost savings and social return on investment for both prison partners and other stakeholders. It is expected that this will increase the impact of promotional and marketing activities to push these services more widely. The Board has considered the impacts of Brexit and no significant impact is expected. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** RECOOP is a company limited by guarantee and a registered charity. The liability of the members is limited by their guarantee. The company was incorporated on the 20[th] September 2010 and is a subsidiary of Bournemouth Churches Housing Association Limited (BCHA). The Trustees listed on page 2 have held office during the whole of the period from 1 April 2020 to the date of this report unless otherwise noted. No person may be appointed as a Trustee unless approved in writing by the parent member (BCHA), but the organisation does seek, through general advertisement and networking, additional members with relevant experience or interest in the work of the charity. The induction and training of trustees is undertaken by the parent member (BCHA). RECOOP signed up to the parent member s (BCHA) NHF code of governance 2015 and has self-assessed as being compliant as at the year ending 31 March 2021. Board member appraisals were completed in December 2019 and the board have a number of actions to address the development areas highlighted by the exercise. A review of the major risks to which the charity is exposed has been undertaken by the Board and systems are established to manage those risks. These risks are identified in the Risk Register which is reviewable on a quarterly basis each Board meeting. ## **Statement of Trustees' responsibilities in respect financial statements** applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law they have are required to prepare the financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. 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 charitable company and of the excess of[income over expenditure that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; - 5 - **RECOOP REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 2021** - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;1 and - related to going concern; and - use the going concern basis of accounting unless they either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities. ## **DISCLOSURE OF INFORMATION TO AUDITOR** In so far as the trustees are aware: - There is no relevant audit information of which - They have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. - That a financial risk assessment in light of Covid -19 has been completed, with the current reserves the charity is deemed to be a viable going concern with adequate resources to continue in operational existence for the foreseeable future.. Approved by the Trustees on 27 August 2021 and signed on their behalf by: ## **P. Baker** Company Secretary - 6 - ## **__________________________________________________________________________________** ## **Opinion** for the year ended 31 March 2021 which comprise the Income and Expenditure Account, the Balance Sheet and related notes, including the accounting policies in note 2. In our opinion the financial statements: - give a true and fair view of the state of affairs of the Charitable Company as at 31 March 2021 and of its surplus for the year then ended; - have been properly prepared in accordance with UK accounting standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ ; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** ) and applicable law. Our responsibilities are described below. We have fulfilled our ethical responsibilities under, and are independent of the Charitable Company in accordance with, UK ethical requirements including the FRC Ethical Standard. We believe that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion. ## **Going concern** The trustees have prepared the financial statements on the going concern basis as they do not intend to liquidate the Charitable Company or to cease its operations, and as they have concluded that the are no material uncertainties that could have cast significant doubt over its ability to continue as a going financial resources or ability to continue operations over the going concern period. Our conclusions based on this work: - ting in the preparation of the - financial statements is appropriate; - uncertainty related to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to continue as a going concern for the going concern period. However, as we cannot predict all future events or conditions and as subsequent events may result in outcomes that are inconsistent with judgements that were reasonable at the time they were made, the above conclusions are not a guarantee that the Charitable Company will continue in operation. ## **Fraud and breaches of laws and regulations ability to detect** To identify risks of material misstatement that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included: - 7 - **__________________________________________________________________________________** - Enquiring of trustees, and inspection of policy fraud. - - Reading Board and audit and risk committee minutes. - Using analytical procedures to identify any unusual or unexpected relationships. We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit. As required by auditing standards, and taking into account possible opportunities for management override of controls (such as limited segregation of duties), we perform procedures to address the risk of management override of controls and the risk of fraudulent revenue recognition, in particular the risk that income is recorded in the wrong period and the risk that management may be in a position to make inappropriate accounting entries. We did not identify any additional fraud risks. In determining the audit procedures we took into account the results of our evaluation and testing of the operating effectiveness of the Charitable Company-wide fraud risk management controls. We also performed procedures including: - Identifying journal entries and other adjustments to test based on risk criteria and comparing the identified entries to supporting documentation. These included income and cash entries made to unexpected accounts. _Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations_ We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the trustees and other management (as required by auditing standards), and from inspection of the management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Charitable Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), taxation legislation, pensions legislation and specific disclosures required by housing legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the Charitable Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the need to include significant provisions. We identified the following areas as those most likely to have such an effect: compliance with Charities Act 2016, GDPR compliance, health and safety and employment law recognising the regulated nature of the activities. Auditing standards limit the required audit - 8 - **__________________________________________________________________________________** procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. ## **Other information** opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or, except as explicitly stated below, any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether, based on our financial statements audit work, the information therein is materially misstated or inconsistent with the financial statements or our audit knowledge. Based solely on that work: - we have not identified material misstatements in the other information; - is consistent with - the financial statements; and - in our opinion that report has been prepared in accordance with the Companies Act 2006. ## **Matters on which we are required to report by exception** Under the Companies Act 2006 we are required to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a strategic report We have nothing to report in these respects. As explained more fully in their statement set out on pages 5 and 6, the trustees are responsible for: the preparation of financial statements which give a true and fair view; such internal control as they determines is necessary to enable the preparation of financial statements that are free from material misstat a going concern, disclosing, as applicable, matters related to going concern; and using the going concern basis of accounting unless they either intends to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are report. Reasonable assurance is a high level of assurance, but does not guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could - 9 - **__________________________________________________________________________________** reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. www.frc.org.uk/auditorsresponsibilities. ## **The purpose of our audit work and to whom we owe our responsibilities** 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to and for no other purpose. To the fullest extent permitted by law, we do not accept or assume as a body, for our audit work, for this report, or for the opinions we have formed. **Harry Mears (Senior Statutory Auditor) for and on behalf of KPMG LLP, Statutory Auditor** _Chartered Accountants_ KPMG LLP Gateway House, Tollgate SO53 3TG August 2021 - 10 - ## **RECOOP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 March 2021** |**Notes**
**INCOME AND EXPENDITURE**
**Income:**
Charitable activities
3
**Total income**
**Expenditure:**
Charitable activities
4
**Total expenditure**
5
**Net income and net movements in**
**funds for the year**
**Reconciliation of funds**
Total funds brought forward
Funds Transferred
**Total funds carried forward**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2021**
**Total**
**2020**
**£**
**£**
**£**
**£**
347,744
60,606
408,350
359,548| |---|---| ||347,744
60,606
408,350
359,548| ||308,177
60,606
368,783
345,658| ||308,177
60,606
368,783
345,658| ||39,567
-
39,567
13,890
259,453
259,453
245,563
-
-
-
-| ||299,020
-
299,020
259,453| The notes on pages 13 to 21 form part of these financial statements - 11 - **Company number: 07381550** ## **RECOOP** ## **BALANCE SHEET AT 31 March 2021** |**Notes**
**Fixed Assets**
Tangible assets
6
**Total Fixed Assets**
**Current Assets**
Debtors
7
Cash at bank and in hand
**Total Current Assets**
**Liabilities**
Creditors falling due within one year
8
**Net Current Assets**
**Total assets less current liabilities**
**Creditors:**falling due after more than one year
**Net Assets**
**The funds of the charity**
Restricted funds
9,10
Unrestricted funds
10,11
**Total Charity Funds**|**2021**
**2020**
**£**
**£**
1,879
4,104| |---|---| ||1,879
4,104| ||137,532
103,061
325,905
236,988| ||463,437
340,049
(166,296)
(84,700)| ||297,141
255,349| ||299,020
259,453
-
-| ||299,020
259,453| ||-
-
299,020
259,453
299,020
259,453| These accounts have been prepared in accordance with the provisions applicable to companies subject . The financial statements were approved by the Trustees and authorised for issue on 27 August 2021 **Lorraine Lloyd (Chair)** The notes on pages 13 to 21 form part of these financial statements. - 12 - **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## **1) COMPANY STATUS** The charity is a company limited by guarantee incorporated in England and Wales, whose registered office is set out on page 2. The members of the company are the trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ## **2) ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## a) **Basis of preparation** The financial statements have been prepared in accordance with the 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 (FRS102) (effective 1 January 2015) (Charities SORP effective I January 2019), and the Companies Act 2006. RECOOP meets the definition of a public benefit entity under FRS102. Assets and liabilities are recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) and the trustees consider it to be a going concern. In preparing these financial statements the company has taken advantage of the disclosure exemptions conferred by FRS102 paragraph 1.12, in accordance with paragraphs 1.8 1.10. Therefore these statements do not include a cashflow statement, or certain disclosures in respect of financial instruments. The disclosure exemption has been adopted because the equivalent disclosure is included in the consolidated financial statements of Bournemouth Churches Housing Association Limited. ## b) ## **Income** Income is recognised when the charity has entitlement to funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, w is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity ake a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a - 13 - **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** contingent asset and disclosed if material. ## c) **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. ## d) **Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular purpose or defined project. ## e) **Expenditure and irrecoverable VAT** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified as relating to charitable activities, including any associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## f) **Tangible fixed assets** Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: |**Asset Category**|**Annual rate**| |---|---| |Fixtures and Fittings|33%| ## g) **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered and provision for impairment. Prepayments are valued at the amount prepaid net of any trade discounts due. - 14 - **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## h) **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## j) **Financial Instruments** The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value. ## k) **Going concern** in light of the Covid-19 pandemic the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The majority of the income for 21/22 Prisons and Probation Service contracts (HMPPS). The company therefore continues to adopt the going concern basis in preparing its financial statements. ## l) **Estimates and Judgements** The Trustees have considered key estimates and judgements over balances in the light of Covid-19 and have concluded there are no significant issues to disclose. ## **3) INCOMING RESOURCES FROM CHARITABLE ACTIVITIES** |**Unrestricted Funds**
Grant and contract income
**Restricted Funds**
Grants|**2021**
**2020**
**£**
**£**
347,744
257,994| |---|---| ||347,744
257,994| ||**2021**
**2020**
**£**
**£**
60,606
101,554| ||60,606
101,554| - 15 - **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## **4) COST OF CHARITABLE ACTIVITIES** |Charitable activities 2021
Charitable activities 2020
**5)**
**TOTAL RESOURCES EXPENDED**
Charitable activities 2021
Charitable activities 2020|**General Funds**
**Restricted**
**Funds**
**Total**
**£**
**£**
**£**
308,177
60,606
368,783
244,528
101,130
345,658

**Staff Costs**
**£**
**Other Costs**
**£**
**Total**
**£**
287,425
81,238
368,663
262,200
83,458
345,658| |---|---| Included within other costs are external audit fees of £2,600 (2020: £2,600). ## **TRUSTEES AND EMPLOYEES** Staff costs include the following: |Wages and salaries
Redundancy
Social security costs
Pension costs|**2021**
**2020**
**£**
**£**
258,666
-
22,109
235,588
-
20,232
6,650
6,380| |---|---| ||287,425
262,200| The number of employees for whom retirement benefits are accruing under money purchase pension schemes amounted to 1. (2020:1). The average number of employees, analysed by function, was: ||**Number**|**Number**| |---|---|---| ||**2021**|**2020**| |Project based staff|11|9| No employee earned £60,000 or more in the period (2020 £nil). No trustee received any remuneration or reimbursed expenses during the period (2020: £nil). There are no retirement benefits accruing to the trustees under money purchase pension schemes (2020: £nil). - 16 - **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## **6) TANGIBLE FIXED ASSETS** |_Cost_
At 1 April 2020
Additions
Disposals
At 31 March 2021
_Accumulated depreciation_
At 1 April 2020
Charge for the year
Disposals
At 31 March 2021
_Net book value_
At 31 March 2021
At 31 March 2020
**7) DEBTORS**
Trade debtors
Prepaid expenses
Amounts owed from parent company
Taxation and social security|**Fixtures and**
**Fittings**
**Total**
**£**
**£**
8,774
8,774
-
-
-
-|**Fixtures and**
**Fittings**
**Total**
**£**
**£**
8,774
8,774
-
-
-
-| |---|---|---| |||8,774
8,774| |||4,670
4,670
2,225
2,225
-
-| |||6,895
6,895| |||1,879
1,879| |||4,104
4,104| |||**2021**
**2020**
**£**
**£**
27,244
10,145
39,024
22,272
70,000
70,000
1,264
644
137,532
103,061| Outstanding balances relating to intercompany recharges are settled in the following month. The loan from RECOOP to Bournemouth Churches Housing Association is charged at a fixed rate of interest of 2% and is settled monthly. The loan balance of £70,000 (2020: £70,000) is repayable on demand. - 17 - ## **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## **8) CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Accruals and deferred income
Grants in advance
Amounts owed to group undertaking|**2021**
**2020**
**£**
**£**
3,079
270
9,889
6,967
103,809
31,500
49,519
45,963| |---|---| ||166,296
84,700| Outstanding balances relating to intercompany recharges are settled in the following month. ## **9) RESTRICTED FUNDS** |Garfield Weston
The Mulberry Trust
The Valentine Charitable Trust
Esmee Fairbairn Foundation
Chadwick Charitable Trust
Total|**Balance**
**Balance**
**1 April**
**2020**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**31 March**
**2021**
**£**
**£**
**£**
**£**
-
300
(300)
-
-
-
6,000
(6,000)
-
-
-
3,306
(3,306)
-
-
-
47,500
(47,500)
-
-
-
3,500
(3,500)
-
-| |---|---| ||-
60,606
(60,606)
-
-| |Lloyds TSB Foundation
Devon Prison Cluster
The Mulberry Trust
Esmee Fairbairn Foundation
The Valentine Charitable Trust
Total|**Balance**
**Balance**
**1 April**
**2019**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**31 March**
**2020**
**£**
**£**
**£**
**£**
**£**
26,791
-
-
(26,791)
-
24,384
19,339
(18,710)
(25,013)
-
-
8,000
(8,000)
-
-
-
54,167
(54,167)
-
-
-
5,000
(5,000)
-
-| |---|---| ||51,175
86,506
(85,877)
(51,804)
-| Our funding from the Mulberry Trust helps with some staffing costs within our business development and commercial team. The Esmee Fairbairn training and business development The Valentine Trust grant funded our Dorset resettlement support and prison work at HMP Erlestoke. - 18 - ## **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** Chadwick Charitable Trust grant was received in relation to the Healthy Living Project at HMP Eastwood Park female prison. A thorough review of the restricted and unrestricted funds was undertaken during the financial year 2020/21 resulting in movements between restricted and unrestricted funds. There are no restricted funds remaining unspent at the end of the financial year 2020/21. ## **10) UNRESTRICTED FUNDS** |Unrestricted Funds
Designated Funds
Total
Unrestricted Funds
Designated Funds
Total||**Balance**
**Balance**
**1 April**
**2020**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**31 March**
**2021**
**£**
**£**
**£**
**£**
64,453
347,744
(308,177)
55,000
159,020
195,000
-
-
(55,000)
140,000
259,453
347,744
(308,177)
-
299,020| |---|---|---| |||| |||**Balance**
**Balance**
**1 April**
**2019**
**Incoming**
**resources**
**Resources**
**expended**
**Transfers**
**31 March**
**2020**
**£**
**£**
**£**
**£**
119,388
309,593
(244,528)
(120,000)
64,453
75,000
-
-
120,000
195,000
194,388
309,593
(244,528)
-
259,453| The Board has approved the transfer of reserves to a designated fund for the purpose of developing and independently evaluating new services. - 19 - ## **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## **11) ANALYSIS OF NET ASSETS BETWEEN FUNDS** ## **As at 31 March 2021** |_Restricted funds:_
_Unrestricted funds:_|Tangible
Fixed
Assets
£
Net
Current
Assets
£
**Total**
**£**
-
-
-
1,879
297,141
299,020| |---|---| ||1,879
297,141
299,020| ## **As at 31 March 2020** |_Restricted funds:_
_Unrestricted funds:_|Tangible
Fixed
Assets
£
Net
Current
Assets
£
**Total**
**£**
-
-
-
4,104
255,349
259,453| |---|---| ||4,104
255,349
259,453| ## **12) CONTROL** The ultimate and immediate parent undertaking is Bournemouth Churches Housing Association Limited. The results of RECOOP are included in the consolidated accounts of Bournemouth Churches Housing Association Limited; these consolidated accounts are available from: St Swithun s House, 21 Christchurch Road, Bournemouth, Dorset BH1 3NS. ## **13) RELATED PARTY TRANSACTIONS** During the year, BCHA charged RECOOP £35,683 (2020: £33,341) in respect of goods and services and management charges. There was £20,481 (2020: £24,037) owed by BCHA to RECOOP as at 31 March 2021. The registered office and full address for RECOOP and BCHA is St Swithuns House, 21 Christchurch Road, Bournemouth, Dorset BH1 3NS. - 20 - **RECOOP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2021** ## **14) FINANCIAL INSTRUMENTS** |The charity
financial instruments may be analysed as follows:||| |---|---|---| ||**2021**|**2020**| ||**£**|**£**| |Financial assets that are recorded at transaction price|423,149|317,132| |Financial liabilities that are recorded at amortised cost|12,969|7,237| |Financial assets comprise cash, trade debtors and loans||| |Financial liabilities comprise trade creditors, accruals and other|loans.|| - 21 -