Comp8tty r¢gisr(ation J)umbcr'. 07564773 Charity rystration numèer.. 1141690 The Ark Association (A conJp#tsy limited by guaraDteel An¢MwI R¢port and Financial Ststemcnts for the Y¢ar Ended 31 March 21>24 Mr5 Sara P4&sey AIMS Acco1tnts for Business 9 Church Street Rutland LE15 7JE
The Ark Asiooatloll Referenee 4nd Administrative Detalls C McOTOry Mary Darlington Iresign¢d 4 DeL%mb¢r 20231 Nicola Co1ng Mica-Cla2re Foort Louis¢ TTevor{appointed l August 2023 and resi 15 April 2024) LYTM Starkey lapp)IDted 31 Juty 20231 Sarnh Sane Davi8 {appoifjted 12 Scptembet 2023} PrlllelpAI Oftlce clo Oakham C of E School Burley Road Oakham Rutiand LE156GY Rfflstr*tlon Iyumber 07564773 Cbartty Regtstntion Nomb¢r 1141690 Solifito Freeth CalmlSht LLP Cumb¢rlaJd Court 80 Mourtt Stre¢t Nottillgham NGI 6HH lttdeptndent Examlner MT5 Sara Passey AIMS Acrountants for BUSI55 9 Church Street Langbam Rutland LE15 7JE Pag¢ I
Tbe Ark Association Trustees, Report The ainjs of the Ark illcluth th¢ following.. - To offtr higb standayds of edut2ti(ry stirnulHtion and witbin a relaKed but strn¢tUTcd tnvironment in partDership with paTellts. ro provide a51 childr¢n with a broad al bAlanced le4rning envÉronment that is ¢ommittcd to the Inte110 of hildren with speGi41 neuis. The philosophy is that all rhil0n,WJth or wiihoul 5pccial ds, should havG the opportunity to develop to th¢iT full potential alongside other childT¢n in an educational environment. ro work within guidelines for special educational n¢ed5 set out in the 2001 Code of Praciice ity)hr as they to rdatc to pre-school settings. The Culeu}M is based on seven areas oFknowledge and ewuiry Ihat fonn the ba$1$ of educaiÉon at every Stsge. The Foundation Stage IF4rfy Learning Qbalsl list these as.. - personal and social and emotional devewneni - Math¢DticS phy5i¢al development - expressive arts &nd design - commwkieation and lan8ua8e d¢velopmenL literacy - WJd¢rSts]7g tbe world A]though these play ao imporrant part ID plaDniD& they are not pr¢settted to th¢ chOren Is dArte nursery subj¢¢ts. Teaching at th¢ Ark A&actatiOn does not take the fom) of instsijctton. RathcT the c]llldreA are presented with a range of activiti from whi¢h th¢y Catt make their OMI cknices lejrn through playing •nd ¢xploritig the ]n8ny re50UT¢es we providr. Tk Ark Aw¢iation wryll ahvays put the JEeeds of th¢ thldr¢n fith. striking a balance w¢, play alld le2rnin8. OUT open41oor poli¢y and joint ¢ompiderised as8esTments Welcome parents. involvemtth wvej) their persoa81 knowledge of their cbild. Tk Boltd of Dirr¢tor51frustee% manag¢rs and aT¢ Committed to providrng the best setvite they can to the hTgh¢st standar4 wth the safety and lare of our children being yaraTnouni. clwity operdt¢$ frotll two sites ill OakknL Olle si owtt¢d by the charity (Ark il which is Iwatrd on Princess wiique qualitie5 and facilities. Strgt¢gkg for 2023121121 Overth¢ next ycar the organTsatiDn has thB following specific atms: - To rettjain ¥ a Charitable organisation with tlwg¢s to the TTS roles. - To continue to work within our Business pian aThl ittCTeasc cash flow. - To t¢ and operate 8 new gov¢rn8n¢t Exc¢utiYe board with S¢nior Memkrs of Staff to knv¢ fi1 re5ponsibi1ity of governat)ce. Pag¢ 3
The Ark Association Trustees, Report n&n¢ial review The ¢haiity reports 2 total slltp15 for the ar of £8,749. This ss a drop on the Surplus of £19,751 reported I1 y¢ar with pressures froTn incrtasing costs due to overall fimding. staffsrtg. staffing and eco]Jomic irnpacts. Th¢ thsrity has also invested in new re50urc¢8 during the financial yegr forAII age 8roup$ including & laT8C Outdoor rnud kitchen 8nd lots of new toys for each room. Totsl incom¢ iTEcf¢a5ed by 59/0 to £437.731 ahhough wÈih denmttd tb could have bctn tligher down tQ 5taffins ch811eDg¢ As intilnated above, cosis ov¢rall. have incr¢ad year on year by 8rovnd 8QA or £32,777. Staff costs make up ov¢T 80rA of the OV¢Tall costs of the charity and higher rninimum wagc5 and the imp)rtanee of retaiThing good staff have nxaDI that staff ¢o$ts havc Eneased year on Y by L25.983. The Trnstees ¢0]Se the wag¢ cost challenge which is being closely mana8ed alongside fillther siaff cffiiisncy measures. Th¢ risk is losing term staff (IlUding k¢y pemn ti5kl andr¢cruiliDg new staff remains o top prioriry for the Board 2024125. Tbis year the ¢harity has treated all staff to a meal out to celebrate thcir efforts as well a5 r£col]se the long service {25 y¢arsl of one of its n]emb¢. As mentioned above. iDve$tswit in tt¢w to and equipm¢m during the yrar 5t around £2.5(K> more than the prfViOUS year {£7,600 winsl £5.11>0I. The Ark bas b¢¢n knt by higher electricity pti¢¢5 Bfld there ntInuEs to b¢ mor¢ T¢]r5 forwidetthkillg It the Pipll( Avenue site. Consultancy costs have in getral reduced. although dunng the lasi ye•t the charity has incuryEd high lesal fres followin8 am¢ndrnents to its met)]n andArticles ofAsso¢ialioo allowing for Trustets lo be ettwloy¢¢s. Thi5 W&8 anecessary me&%ure &8 the¢h&ity WAS unable to fittd TTUSttC5 aThJ could ]M)t conlinue witknul b¢ing quorate. A5 eXcted, due to hi8lw occupgncy levels alld hx8h iua4tioN spend on foLKI and nursery t)pAb has increased by £1,764 ¢ompar¢d to last ye4r. IheralL the Trustecs are happy to report a stnall surplus. The Charity will rrtd reserve$ tt> enable li to (kal with iwgerr¢pair5 or inv¢stments such as the minsl)us. which remaiTh8 key to some of the servi¢¢s w¢ provÉde. The charity now holds fr¢e T¢sVe5 of £58,422 at the ¢¢ sheet date This would MO than cover a month'$ wage5 &ttd 0srEAheads but sÈtoations caTJ change very quiekiy so ideauy ths ¢lwrity would Jike 10 hold JrouDd £IIXI,IM)O which would coveraround 3 mot)Ihs vrdge5 and overheads or coYeroth¢T SEgnificattt f05ts arising. reports that 1$ desi8[d to help idenlify tren4ts 3nd pinpoint issues qvi¢k]y. Bookk¢eping ha5 been tr2ferred to Qui¢kbook5 wbere Tn]$re are lookirjg for f4]rther Wdys to etsbance finJciai reporting. Page 5
The Ark Associ8tiDn Trustees, Report Rttrnltment lld 4ppDintment of trustees The directors of the company att also ¢harity tn¢8 for the purpose of charity law. The tteeS will be elect at the Annual G¢J]¢ral mling and sha]1 retirebyrothiion one eiGb third year. TheAGM for2023 lookplace on 28 November 2023. The miTrin]urn nurnber of dire¢tor5 Utldei the Articles of Assrfiation 15 3 and there are cutt¢ndy S. Ittln tr4knthg oflrnstses Any new 1Th2Stees and committee m¢mbvrs are given an overview of th¢ Ark As50ciatton including details of the history attd bttkgrnund of the charity ro8eth¢r with the infoTttHiton of the firtan¢i81 position. In addition, new ttIL8tees are provided wxih copies of the Charity CoJJ)mis$ion gUida]e brM)klet Th¢ Ess¢ntiai TtI. A Introduction. and The EÉsential TrSt¢e.. What YOU D¢¢d to know. Org41$at1OOl $trndure During 2023124. the directorsttrustees board meetin8s at le¥t once a tern). M%Jor rlsks And manig¢n*ffjt of th•serlsk• Tnjslets have a duty to identpfy and Teview the nsks to which the ch8rity 1$ ¢xpos¢d and Éo e[llre apptopriat¢ controls place to prode r¢350uabl¢ a55ufaLCe against fra1 aTyJ error. The Ark ts making St¢ps io ensure risk factort are regularly reTrryew&J. The ¢uTrent lltunedi8t¢ ri8k fa¢tOTS con&idered in¢lud¢ r¢¢witm¢t>t and retention of staff as well as 8overnmtDt and local authority funding rates which hav¢ a 5ignificani impact on the settirtg's financial 5taths. Further etthancement to Top & Emerging Risks are being developed in 2024125. The annual report wa$ 4ppwv¢d by th¢ Irust¢¢5 of thc charity on.2sI.i.i.IIwand 5ignd on its behalf by.. Twstee Pa8e 7
The Ark Associatlon Independent Examlner's Report to Ihe trustees of The Ark Assotiatlon I report on the Jccounis of rhe tharily for the year ended 31 March 2024 which areset out on pages I I to ?1 . Respettlve responsibilttles Of tru$tee$ and examin¢r The trustett {who ur¢ also the directors ofthe conwaDy fw the purposes of eoryany lawl aTe responsible for th¢ ptepardtioll of the acco1%. The trustees consider that an alt is Lol required for this ye2r. und¢T serfiott 144(21 of th¢ ChaTities Act 2011 Ith¢ 201 J Act) 8nd that an independent examinat2on is needvd. The charity's gT055 incom¢ exceeded £250.000 aDd l am qualified to UDdenoke rh¢ exanynatiox by being a qualificd member of Chartered rnstitute of MargerneDt Ac¢ountaiiis. Havin8 %Iti5fi¢d myKlf that th¢ ¢lwi'ty 15 not subject to audit under cornpany law and is eligible for ind¢p¢ndent ¢xalmtio it is my SpO$]bl]ity to.. Tn1 the aecounts under section 145 of the 2011 Ac( to follow the prorEduTe5 latd down in the general Directions giveD by tk Chty ConDDission U[er section 145(51(b) of the 2011 A¢t.' and to slat¢ whdher paTttcuiAr matter5 have come to my att¢ThtioD. $15 of independertt ex¥rnlner's report My exaniination was c8rried out in accordance with th¢ gtneral Direa10 given by the Cbarity Commission. An exaJnination in¢lud¢s a review of the B¢¢tsunting recoT(ts kept by the charity and a comparison of the accounts presented ivi¢h those records. Jt also include5 consideratio* of any unusual items or dis¢losur¢5 sn the accothits, and s¢cking explanatiQU5 froffi you as tnJst¢es concerniiLg any such Tnatters. The proc¢dures und¢rtak¢n th) not provide all th¢ ¢wid¢nce that WO¥tld be requiTed in an audit and consequently no opiThÈon is 8ivett as to whether the acEouThts prcsent a'true atsd f#ir view. al the rep(irt is limitcd io tho8¢ matt¢rs sct out irt the siatcm¢tsl bEIow. ldePendent ei#mlTrer'3 stAtement In connection with my examination. iio mgtt¢r has eome to my aiiention.. 111 whi¢h gives me reasonable cau5¢ to believe thtt I 4ny materi21 resped the rquirenmts.. to kttp ae¢ounting records in atcordancc with section 386 of the Companies Aet 21A)6.' and tts prepare accotjnts wbi¢h accord with the a¢¢Oun1ll record& ¢on4>ly 7th the ¥countiDg reqtsiremcnt5 of section 396 of the Companies Act 2(K16 and wtlh the metho(is and principles of th¢ Ststemenl of Recomtnended Practi¢e.. Accounting and Repot(ing by Charities have o()t bc¢Tr met- or 12lto which. in my opinion. atteThtion should be drawn in OTd¢r ro ¢nable a Pmperdema1jdtll8 of tk accourts to be re&¢h¢d. Page 9
The Ark Assrfiation Statemtnl of Fingncial Activities for the Year Ended 31 March 2024 (Ineluding Income and Expenditure Account and statent of Total Reeognised Gains and Losses) UnrestrItte fllnd5 Restrlct¢d fiDd5 Tit41 2024 Total 21)23 Note Inc•me and Endowmeot$ froJD: Ch8rit#ble a¢tivitics Oih¢r tradin8 activities Inves¢m¢nt illeoyne Other i1Orne 436.887 230 613 21 436.887 230 613 413.574 1.822 35 545 Total ItJ¢omc 437.751 437 751 415,976 Expendknre on: Charitable activities 428.912 90 429,002 396225 Total Expendiftre 428,912 90 429,002 396225 N¢1 ittcomel{expendjtte Nel JhOV¢E)7ent in fiJtM15 8.839 1SX>I 8.749 19,751 8.839 190} ,749 19,751 Rec•)nclllation of fuDds Total fuThls brought fornird T4al fijtxls cgrried fonvard 228.574 597 229,171 209,419 16 237.413 507 237 920 229,170 All of th¢ chrity'5 8Ctivttits dtrive from wntinuing oFrations thtriDg th¢ abovehvo periods. The knds breakdown foT2023 is ill notc 16. Pt8e 11
The Ark A(tion Notes to the Financial Statements for the Year Ended 31 M¥rch 2024 I Charlty st4tu$ The charity 18 a charity IiEnited by 8uaratslee atsd to]J5equeThily does I¢ have Share capital. E8¢h of the trustees is liable io wntnbut¢ amollTht not exceeding £Nil towards tk orth¢ charity in tht evtht of tiqUEdation. 2 Accountlng policies Summary of sigDitlcanl Attownting policies and key actouttting fstimates Tkne prineipal accounting rrf)licie$ appli¢d in thc preparation of these financial sta¢mentS WT¢ set out below. The8e policies hÈv¢ b¢¢rJ TlStent]Y applied to all the years pr¢5CDted. unltss otl>eThvise stated. St#temenl of tompllattte Th¢ financial slalements have b¢en pT¢Par in accordance with Accounting 8nd RepO.g by Ch2riti¢s.. Stat¢wEnt of R¢¢omm¢ndcd Practice applicable to chaTittes prepariL8 their #¢counts in accordance with the Finhhcial R¢porting Stalldsrd aPpIable in th¢ UK and Republic of Ireland IFRS 1021 (effective l January 20151 . (ThdTities SORP {FRS 1021). the FInala1 Reporriiig S¢ahdard applicable in the UK and Republic of Ireland IFRS 102) and tb¢ Companies A¢t 2006. B&sl$ of preparatio The Ark A5S0CLation meets the def]nition of a public bette6t entity under FRS 102. Asset$ and Itabiiities ar¢ inLti8IIy recognised at hi$ioric81 ¢ost OT transaction v8lue unlesB oiherwi5e Stated in th¢ Tel¢v4nt accountirt8 policy ]wt¢5. Golng The ¢ttJsiees ¢on5ideT tfrat there are t)0 m8t¢ri#l uncerlainties about the charitys al>ility to Contille as a Boing ¢on¢ern nor any si8nifJcait area5 of wicertainty that affect the Cafty value of assets beld by the charity. EKemption frorn preparfng a tash flDW ststemeDt The Charity opted to early adopt Bulletin I publE5tKd on 2 Febnjary 2016 and hav¢ tbeT¢fore not inc1jed a cash flow ststement in these fuwicial statements. All expenditure is reCols¢d onGe therc 15 a legal or COtt8Wive obli8ation to that expendittLre, it is probable s¢ttl¢ment is required 3Dd the amount can be me&sur&l r¢liably. The ha5 t&k¢D advantage of th¢ ¢xetr4)tiOD ov&il8ble to smaller Chane$ to report all ¢xpEnditure und¢r totsl exp¢ndilure and this is broken down ffimh¢i in the Taxatlon The charity 1$ ¢onsid¢red to pass the test$ 8¢t out io Paragrdph I Schedule 6 of the FUCe Aet 2010 and th¢refore it meets the definition of a charitsble conJp4ny for UK cotporation tax pwpose5. A¢eordill8ly. the rharity is potentially ex¢mpt from taxation in Teswt of in¢ome or capital gains re¢¢5ved within ealegorie5 covered by Chapt¢r 3 Part 11 of the Co]wrdtioTJ Tax Act 2010 or SedioD 256 of the T&xation of Ckngeable Gains Ad 1992. to the extent that such incomc or 8ain5 applied ¢xclusiwcty to charitable puttx)s Page 13
The Ark Associatl¢Jn Notes to the lanCi111 Statements for the Year Ended 31 Martb 2024 3 Iacome fro charlthble ¥e¢ivltie Ullrutri¢ted fuRds Totl 2024 Totsl 2023 GeDeTAi Fees- Burley Road Milk 434,595 2.292 434.595 412.188 lJ86 436,887 436,887 413.574 4 Inc(trmt frojh otther tradlng &ttrviti Unre$trleted funds To¢1 2024 Tot 2023 Gener•1 Fundraising cvcnls 230 230 1,822 230 230 1.822 S IAvestmtDt in£om¢ Unrestrl¢ted Total 2014 Total 2023 Central Inte$1 ttccivablc on bat)k dewsits 613 613 35 Pa8e IS
The Ark Association Notes to the Finan¢i21 Ststements for the Year Ended 31 Mareh 2024 8 TTU51ees remuneratlon and expenses DuTib¥ the y¢8r the charity made the followin8 ti8]Is#ttions with tru51ees' C McGrory C M¢Gmry receiv r¢Tnunerdti(m of£l22012023.. £5.2501 during the year. The remurmtion paid to C McGrory is payment for providing financial and business support. As the majority of TnLeeg r¢ct?ved r¢mun¢Talion durittg the yr authority was request from th¢ Charity Commission and thccharitys articlcs of8sswiaiioD have been updated attd approvedon 28 Sept¢mb¢r 2023. Nicol* Cowllng Nicola Cowling re¢eiv¢d TernunerAtion of £21.12012023: £18.974) during the year. The r¢TnuTr¢ration pwdto N Cowling is salary forher etnpltsynKnt. Etnployer pension cotstriblltious of £633.59 w¢r¢ a150 paad by the ¢harity on b¢ha]f of NCowling12023- £569.30). As the rnajoTity of Tn2slee5 received remunerktion dwing the year authority was Tequested from th¢ Chlrity Commi5Ston and the charitys )rticles tsf a550Giation have been updated and approved on 28 Sepiembei 2023. Ml¢8-C121tY Foort Mica-claire Foort receiv¢d rtmuneration of £26.475 (2023.. £23.4931 duriog the year. The remuneration paidto M Foort is salary for her eN4)loym¢ni. EDwloy¢r pension conthbutiorLS of £79417 were also paid by the charity onbthalf of M Foort (2023- £704.88). Page 17
The Ark Assoclatlon Notes to the Financial Statements for the Year Ended 31 March 2024 11 TAxatlo The charity is a rewsteyed clwily and 1$ ther¢foTe cxcmpt frojn taxatio 12 TaDgible fixed assets L*nd ind bllildthv Furniture and equlpmellt Motor wehiek$ Toys & Equlpmeijt Totsj Cost At l April 2023 Additions 182,914 30.919 499 11,994 26,765 IJ02 252,592 1.801 At 31 March 2024 182,914 31,418 11,994 28,067 254.393 Depred&tlo At l April 2023 Charge for the year 17,136 2,858 22.077 11,320 18.008 1,508 68J41 6.353 At 3 1 Mareh 2024 19,994 23.896 11.488 19.516 74894 Net book vAlne At 31 March 2024 162,920 7.522 506 8,551 179,499 At 31 March 2023 165 778 8,842 674 184.051 Included within the nei book value of lond ar buildings above is £1 17,508 (2023 £119,570) iji Tespect of l¢as¢hold land and buildings and £45.412 (2023- £462091 in respectof improveiments to property. 13 Debtors 2024 2023 3.710 3J13 3.710 3,587 Page 19
The Ark AssoclAifion Notes to the Financial Statements for the Year Ended 31 March 2024 17 A•8tys1s of llet tgjtts between fvnds Ullrestricted funds Rejtrieted runds CeD¢ral TotaI fuTtd8 Tangible fixed assets Current Isseis CutY¢nt liabilitics 178.991 80.485 122.063} 508 179.499 80,485 122,063 Total oet ass¢ts 237,413 508 237,921 18 RelAted party IrgmsActloJ Dllrirtg the year the charity the followng Teiated party trans8Ctions.' PA PAID*r (Father of Mica Foortl £3.940 was paid to Mr Palrncr for the ¢re¢tion of som¢ frncing at thc PritKS Avenue sit¢. 3 qutst¢$ weTe obtained for the work and M FLN)rt abstsined frorn any involvement in th¢ detision. (2023 - £500 was paid lo Mr P8ltJJer for fencing work al Burley Road). At the balance sheet date the aTut du¢tdfrom P A Pa]mer was £NÈl12023- £Ns11. Page21