Charity Registration No. 1154963
CEO SLEEPOUT CIO
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
CEO SLEEPOUT CIO
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr A L Preston Mr N Tunley Mr A Ali
Charity number
1154963
Independent Examiner
Ambrose & Co Accounting Solutions Ltd
Chartered Certified Accountants Boho 4, Gibson House Cleveland Street Middlesbrough TS2 1AY
Bankers
Handelsbanken First Floor 1 Eggleston Court Riverside Park Middlesbrough TS2 1RU
CEO SLEEPOUT CIO
ACCOUNTS
YEAR ENDED 31 MARCH 2021
| CONTENTS | PAGE |
|---|---|
| Trustees’ annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notestotheaccounts | 6 |
CEO SLEEPOUT CIO
TRUSTEES' ANNUAL REPORT
YEAR ENDED 31 MARCH 2021
The trustees present their report and the financial statements for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity’s governing document, the Charities Act 2011 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Teporting Standard applicable in the UK and Republic of Ireland (FRS 102)’ (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The objective of CEO Sleepout CIO, which is outlined in the Constitution of the ClO dated 10 December 2013 is to relieve poverty and need for homeless people by raising public awareness of homelessness and providing grants and support to organisations or agencies to help those who are homeless.
Significant activities
The charity's significant works include planning, recruiting, marketing and delivering fundraising events for executives who sleep outdoors for one night to raise sponsorship from their business contacts and friends. These events are nationwide, covering cities: London, Manchester, Middlesbrough, Milton-Keynes, Nottingham, Cambridge, York, Portsmouth, Hull, Doncaster, Harrogate, Darlington, Durham, York St John University, Teesside University, Newcastle and Alnwick.
Staff
The charity is run operationally by a single paid employee, Bianca Robinson who is CEO of the charity.
Volunteers
The charity is supported by the voluntary efforts of trustees and their respective businesses. No trustee has ever claimed expenses or reimbursements in lieu of actual money spent or time incurred.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance Fundraising activities
The charity's fundraising has come in two forms: significant donations by individuals and businesses and from the organisation and implementation of CEO sleepout events.
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CEO SLEEPOUT CIO
TRUSTEES' ANNUAL REPORT (continuea)
YEAR ENDED 31 MARCH 2021
We have made numerous financial grants during the year to organisations representing the objectives of the charity and meeting the relevant criteria. These were based in the geographical areas of the sleepout events and more locally. A full breakdown of recipients and the amounts of the individual grants made are detailed in the accounts.
Despite a challenging year the charity has managed to maintain its’ support of organisations through its existing funds. It is envisaged that the regular fundraising events will return once restrictions and National circumstances allow.
Financial review
The trustees have set a reserve policy so that unrestricted funds, not committed or invested in tangible fixed assets, held by the charity should be at least 6 months of the resources expended.
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
The impacts of Covid have been considered and financial funds are being monitored.
Structure, governance and management
The charity is governed by its CIO Deed, dated 10 December 2013, and under this deed is constituted as a Charitable Incorporated Organisation (CIO).
The trustees who served during the year and up to the date of signature of the financial statements were:
Mr A L Preston
Mr N Tunley
Mr A Ali
Trustees are approached to join on the following range of criteria and after discussions are then invited to join the board.
-Professional standing
-Complimentary skill set to other trustees
-Interest in homelessness
-Cooperative and helpful nature
The trustees’ report was approved by the Board of Trustees.
Mr AL Preston Trustee 12 January 2022
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CEO SLEEPOUT CIO
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CEO SLEEPOUT CIO
YEAR ENDED 31 MARCH 2021
| report to the trustees on my examination of the financial statements for the year ended 31 March 2021 which are set out on pages4 to 15.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The trustees of the charity are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
| report on the examination of the Charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
BASIS OF INDEPENDENT EXAMINER'S REPORT
Since the charity's gross income usually exceeds £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1 — Accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 — the financial statements do not accord to those records; or
3 — the financial statements do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the financial statements to be reached.
ba Vr lots A (¢
Ambrose and Co Accounting Solutions Ltd Boho 4 Gibson House Cleveland Street Middlesbrough TS2 1AY
12 January 2022
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CEO SLEEPOUT CIO
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2021
| Total Funds | Total Funds | Total Funds | |
|---|---|---|---|
| 2021 | 2020 | ||
| Note | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generating funds: Activities forgenerating funds Incoming resources from charitable activities |
3 | 111,325 28,696 |
489,710 - |
| TOTAL INCOMING RESOURCES | 140,021 | 489,710 | |
| RESOURCES EXPENDED | |||
| Charitable activities Governance costs |
5 4 |
(95,528) (59,771) |
(422,054) (620,293) |
| TOTALRESOURCES EXPENDED | (155,299) | (1,042,347) | |
| NETOUTGOING RESOURCES FORTHEYEAR | (15,278) | (552,637) | |
| RECONCILIATION OF FUNDS | |||
| Totalfunds broughtforward | 542,481 | 626,491 | |
| TOTALFUNDSCARRIEDFORWARD | 58,576 | 73,854 |
All of the above amounts relate to continuing activities.
All funds during the year were unrestricted.
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CEO SLEEPOUT CIO
BALANCE SHEET
31 MARCH 2021
----- Start of picture text -----
2021 2020
Note 3 £ £
FIXED ASSETS
Tangible assets 6 752 1,043
Investments 8 1 1
753 1,044
CURRENT ASSETS
Debtors 9 1,321 980
Cash at bank 57,523 75,850
58,844 76,830
CREDITORS: Amounts falling due within one
year 10 (1,021) (4,020)
NET CURRENT ASSETS 57,822 72,810
TOTAL ASSETS LESS CURRENT LIABILITIES 58,576 73,854
NET ASSETS 58,576 73,854
FUNDS
Unrestricted income funds 11 58,576 73,854
TOTAL FUNDS 58,576 73,854
----- End of picture text -----
These accounts were sn d by the trustees on 12 January 2022.
Mr A. Preston
Trustee
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2021
- ACCOUNTING POLICIES
Charity information
CEO Sleepout CIO is a Charitable Incorporated Organisation in England and Wales. The registered office is Boho One, Bridge Street, Middlesbrough, TS2 1AE.
1.1 Accounting convention The accounts have been prepared in accordance with the Charity's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical costs convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue operational existence for the foreseeable future. The ongoing impacts of Covid have been considered and the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS ¢continuea)
YEAR ENDED 31 MARCH 2021
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Grants payable
Grants payable are accounted for when paid. Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity.
1.6 Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources
1.7 Tangible fixed assets
Tangible fixed assets are initially measured at costs and subsequently measured at costs or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold property Over the life of the lease
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS ccontinuea)
YEAR ENDED 31 MARCH 2021
1.8 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from it's activities.
1.9 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.11 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ‘Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present valueofthe future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS continued)
YEAR ENDED 31 MARCH 2021
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year of less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
1.12 Employee benefits
The cost of any used holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13 Retirement benefits
Payments to defined contribution retirement benefit schemes are charges as an expense as they fall due.
- Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS ccontinueg)
YEAR ENDED 31 MARCH 2021
| 3. INCOMING RESOURCES FROM ACTIVITIES FORGENERATING FUNDS |
3. INCOMING RESOURCES FROM ACTIVITIES FORGENERATING FUNDS |
|
|---|---|---|
| Total Funds Total Funds | ||
| 2021 | 2020 | |
| £ | £ | |
| CEO Sleepout events | 111,325 | 489,710 |
| 4. COSTS OF CHARITABLE ACTIVITIES |
||
| Total | Total | |
| Funds | Funds | |
| 2021 | 2020 | |
| £ | £ | |
| Staff costs | 47,270 | 54,530 |
| Depreciation and impairment | 291 | 39,009 |
| Admin support | §,314 | 10,799 |
| Legal and professional fees | - | 1,877 |
| Marketing and PR | 4,722 | 14,609 |
| Costs ofSleepout events | 1,155 | 1,988 |
| Independent examiner's fees | 1,019 | 1,077 |
| Loss on disposal | 496,404 | |
| 59,771 | 620,293 | |
| Grantfunding activities (see note 5) | 95,528 | 422,054 |
| 155,299 | 1,042,347 |
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS
continued)
YEAR ENDED 31 MARCH 2021
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|5.|Grants|Payable|
|2021|2020|
|£|£|
|Grants|to|charities|and|
|institutions:|
|Notts|County|FITC|-|5,748|
|The|Fork|In|The|Road|-|121,888|
|Newcastle|United|Foundation|-|17,836|
|Changing|Lives|-|24,653|
|MCC|-|17,035|
|MASH|-|3,000|
|House|of|St|Barnabas|-|2,500|
|The|Friary|-|5,748|
|Emmanuel|House|-|5,748|
|LCCC|Foundation|-|7,000|
|Durham|Cathedral|-|967|
|The|Alnwick|Garden|-|2,365|
|Salvation|Army|-|2,247|
|Alnwick|Debt|Centre|-|591|
|Back|on|Track|Manchester|-|7,850|
|Buses|4|Homeless|CIC|-|11,291|
|Carecent|-|2,000|
|Chill|in|the|Community|CIC|-|3,367|
|DMP|Arena|Trading|Ltd|-|6,500|
|Emmaus|Hull|&|East|Riding|-|8,890|
|First|Stop|Darlington|-|6,500|
|Middlesbrough|Food|bank|-|500|
|Middlesbrough|NHW|-|1,356|
|People's|Kitchen|-|500|
|Pompey|in|the|Community|-|6,293|
|Robert's|Centre|-|3,000|
|Southern|Domestic|Abuse|-|500|
|Street|Paws|-|1,000|
|Streetchild|United|-|3,604|
|The|Junction|-|200|
|Toiletries Amnesty|-|2,500|
|Walking|with|the Wounded|-|15,386|
|All|Call|Signs|-|1,000|
|Bridge|House|Mission|-|1,356|
|Billingham|&|Stockton|Foodbank|-|500|
|Caris|Camden|- CCF|-|2,500|
----- End of picture text -----
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| Club Doncaster | - | 5,774 |
|---|---|---|
| County DurhamCommuntiy Foundation | - | 11,986 |
| Durham Foodbank | - | 500 |
| Eva'sWomen's Aid | - | 200 |
| Homestart Teesside | - | 1,356 |
| Harrogate Homeless Project | - | 5,000 |
| Hartlepool Foodbank | - | 500 |
| Hull Kingston Rovers | - | 5,540 |
| Jimmy's Cambridge | - | 3,579 |
| Kitchen foreveryone | - | 3,367 |
| London Borderline | - | 3:132 |
| MK Dons Set | - | 26,198 |
| Moses Project | - | 3,012 |
| Mustard Tree | - | 1,443 |
| My Sister's Place | - | 3,012 |
| Redcar Area Foodbank | - | 500 |
| Saltburn Food Bank | - | 60 |
| Street Pastors | - | 1,000 |
| TheQueens Nursing Institute | - | 2,000 |
| Veterans in Crisis | - | 3,000 |
| Veterans Outreach Support | - | 1,000 |
| YMCA | - | 2,238 |
| YMCA MK | - | 24,804 |
| York City FC Foundation | - | 8,934 |
| The Big Chrstmas Sleepout | 10,950 | 7 |
| Stay atHome | 31,350 | - |
| Grants Newcastle | 8,480 | - |
| Granst Halifax | 1,071 | - |
| Grants Northumberland | 21,181 | - |
| Grants Harrogate | 16,063 | - |
| Grants Teesside | 2,500 | - |
| Grants London | 2,500 | - |
| Saltburn Appeal | 1,433 | - |
| 95,528 | 422,054 |
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS ¢eontinueg)
YEAR ENDED 31 MARCH 2021
6. STAFF COSTS AND EMOLUMENTS
Total staff costs were as follows:
| Total staff costs were as follows: | ||
|---|---|---|
| 2021 | 2020 | |
| z | £ | |
| Wages and salaries Social security costs Other pension costs |
42,972 1,070 3,228 |
50,000 1,380 3,150 |
| 47,270 | 54,530 |
Particulars of employees: The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2021 2020 1 1
No employee received remuneration of more than £60,000 during the year (2020 - Nil).
7. TANGIBLE FIXED ASSETS
| Leasehold | |||
|---|---|---|---|
| Equipment | Property | Total | |
| z | £ | £ | |
| COST | |||
| At 1 April 2020 | 1,164 | - | 1,164 |
| Disposals | - | - | - |
| At 31 March 2021 | 1,164 | - | 1,164 |
| DEPRECIATION | |||
| At 1 April 2020 Charge forthe year |
121 291 |
- - |
121 291 |
| On disposals | = | a | |
| At 31 March 2021 | 412 | - | 412 |
| NET BOOKVALUE | |||
| At 31 March 2021 | 752 | - | 752 |
| At31March2020 | 1,043 | - | 1,043 |
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS ccontinueg)
YEAR ENDED 31 MARCH 2021
| 8. | INVESTMENTS | ||||
|---|---|---|---|---|---|
| Movementinmarketvalue | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Market value at 1 April 2020 | 1 | 1 | |||
| Marketvalue at31 March 2021 | 1 | 1 | |||
| Historical cost at 31 March 2021 | - | 1 | |||
| Analysis ofinvestments at31 March2021 betweenfunds Total Funds | TotalFunds | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Other investments Fixed asset investments |
1 | 1 | |||
| 9. | DEBTORS | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Prepayments | 1,321 | 980 | |||
| 40. | CREDITORS: Amounts falling due within one year | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Other creditors Accruals and deferred income |
1 1,020 |
1 4,019 |
|||
| 1,021 | 4,020 | ||||
| 41. | UNRESTRICTED INCOME FUNDS | ||||
| Balance at | Incoming | Balance at | |||
| 1 April 2020 £ |
resources £ |
31 | March 2021 £ |
||
| GeneralFunds | 73,854 | (15,278) | 58,576 |
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CEO SLEEPOUT CIO
NOTES TO THE ACCOUNTS continuea)
YEAR ENDED 31 MARCH 2021
12. SUBSIDIARIES
These financial statements are separate charity financial statements. The subsidiary included in the fixed asset investment (note 8) is 133 Linthorpe Road Limited, Boho One, Bridge Street, Middlesbrough, TS2 1AE . The company operated a charity restaurant which was sold during October 2019. The subsidiary is no longer trading and is exempt from consolidation.
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