**CHARITY REGISTRATION NUMBER : 1154963**
## **CEO SLEEPOUT CIO**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **CEO SLEEPOUT CIO**
## **ACCOUNTS**
## **YEAR ENDED 31 MARCH 2022**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees' annual report|**1**|
|Independent examiner's report to the trustees|**4**|
|Statement of financial activities|**5**|
|Balance sheet|**6**|
|Notes to the accounts|**7**|
## **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**
## **TRUSTEES' ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2022**
The trustees present their report and the financial statements for the year ended 31 March 2022.
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 Reporting 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 CIO 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 or in poverty.
## **Significant activities**
The charity's significant works include planning, recruiting, marketing and delivering fundraising events for business executives who sleep outdoors for one night to raise sponsorship from - or make donations - from their businesses, business contacts and friends. These events are nationwide, covering the following cities in the financial year 1 April 2021- 31 March 2022:
2021
Big Easter Sleepout CEO Sleepout Milton Keynes (virtual) CEO Sleepout Middlesbrough CEO Sleepout Northumberland CEO Sleepout 4Heroes CEO Sleepout Manchester The Big HSBC Sleepout CEO Sleepout Sunderland CEO Sleepout Nottingham CEO Sleepout Darlington CEO Sleepout London CEO Sleepout Birmingham
2022
CEO Sleepout Newcastle
## **Staff**
The charity is run operationally by one full-time employee (CEO) and one part-time employee (Events Coordinator 16 hours/week from May 2021).
1
## **CEO SLEEPOUT CIO**
## **TRUSTEES' ANNUAL REPORT** _**(continued)**_
## **YEAR ENDED 31 MARCH 2022**
## **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.
The charity also enlists volunteers to support with the following activities:
- Administration
- Recruitment
- Photography and video services
## **Fundraising activities**
The charity's fundraising has come in two forms: significant donations by individuals and businesses and from funds generated by CEO sleepout events.
Fundraising in 2021 suffered from the effects of localised lockdowns, meaning events were cancelled, postponed, or moved to online “virtual” fundraisers. The effects of the pandemic on business meant that people were less generous with donations and this had an impact on the size and amount of donations procured. Going into 2022 the mood briefly changed late in 2021 and in the first two months of 2022. Business leaders seemed keen to support and raise or donate funds. This quickly changed as the war in Ukraine broke and cost of living began to hit the headlines signalling a downturn in fundraising.
We have made numerous financial grants during the year to organisations representing the objectives of the charity and meeting the relevant criteria and in accordance with CEO Sleepout’s Grant Making Policy. 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.
## **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.
2
## **CEO SLEEPOUT CIO**
## **TRUSTEES' ANNUAL REPORT** _**(continued)**_
## **YEAR ENDED 31 MARCH 2022**
## **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 A L Preston Trustee
31 January 2023
3
## **CEO SLEEPOUT CIO**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CEO SLEEPOUT CIO**
## **YEAR ENDED 31 MARCH 2022**
I report to the trustees on my examination of the financial statements for the year ended 31 March 2022 which are set out on pages 5 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).
I report on the examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I 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. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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 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.
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 to enable a proper understanding of the financial statements to be reached.
Ambrose and Co Accounting Solutions Ltd Boho 4, Gibson House Cleveland Street Middlesbrough TS2 1AY
31 January 2023
4
## **CEO SLEEPOUT CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **YEAR ENDED 31 MARCH 2022**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Total Funds|Total Funds|
|2022|2021|
|Note|£|£|
|INCOMING RESOURCES|
|Incoming resources from generating funds:|
|Activities for generating funds|3|434,129|111,325|
|Incoming resources from charitable activities|6,122|28,696|
|──────── ────────|
|TOTAL INCOMING RESOURCES|440,251|140,021|
|──────── ────────|
|RESOURCES EXPENDED|
|Charitable activities|5|(255,274)|(95,528)|
|Governance costs|4|(94,732)|(59,771)|
|──────── ────────|
|TOTAL RESOURCES EXPENDED|(350,006)|(155,299)|
|──────── ────────|
|NET INCOMING/(OUTGOING) RESOURCES FOR THE|
|YEAR|90,245|(15,278)|
|RECONCILIATION OF FUNDS|
|Total funds brought forward|58,576|542,481|
|──────── ────────|
|TOTAL FUNDS CARRIED FORWARD|148,821|58,576|
|════════ ════════|
**----- End of picture text -----**
All of the above amounts relate to continuing activities.
All funds during the year were unrestricted.
5
## **CEO SLEEPOUT CIO**
## **BALANCE SHEET**
## **31 MARCH 2022**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2022|2021|
|Note|£|£|£|
|FIXED ASSETS|
|Tangible assets|7|461|752|
|Investments|8|1|1|
|────|────|
|462|753|
|CURRENT ASSETS|
|Debtors|9|1,132|1,321|
|Cash at bank|148,636|57,523|
|────────|────────|
|149,768|58,844|
|CREDITORS: Amounts falling due within one|
|year|10|(1,409)|(1,021)|
|────────|────────|
|NET CURRENT ASSETS|148,359|57,822|
|──────── ────────|
|TOTAL ASSETS LESS CURRENT LIABILITIES|148,821|58,576|
|──────── ────────|
|NET ASSETS|148,821|58,576|
|════════ ════════|
|FUNDS|
|Unrestricted income funds|11|148,821|58,576|
|──────── ────────|
|TOTAL FUNDS|148,821|58,576|
|════════ ════════|
**----- End of picture text -----**
These accounts were approved by the trustees on 31 January 2023.
Mr A. Preston Trustee
**The notes on pages 7 to 16 form part of these accounts.**
6
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 MARCH 2022**
## **1. 1. 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.
## **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.
7
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2022**
## **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.
## **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.
8
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2022**
## **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 value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## **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.
## **2. 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.
9
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2022**
## **3. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS**
||**Total Funds**|
Total Funds|
|---|---|---|
||**2022**|
2021|
||**£**|£|
|CEO Sleepout events|**434,129**|
111,325|
||════════|════════|
10
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS** _**(continued)**_
## **YEAR ENDED 31 MARCH 2022**
## **4. COSTS OF CHARITABLE ACTIVITIES**
|**Total Funds**
**2022**
Total Funds
2021
**£**
£
Staff costs
**58,420**
47,270
Depreciation and impairment
**291**
291
Admin Support
**24,395**
5,314
Donations
**1,046**-
Marketing and PR
**6,812**4,722
Cost of CEO Sleepout events
**2,411**
1,155
Independent examiner’s fees
**1,357**
1,019
──────── ────────
**94,732**
59,771
Grant funding activities (see note 5)
**255,274**
**95,528**
**350,006**
**155,299**
**5. GRANTS PAYABLE**
**2022**
**£**
Grants to charities and institutions:
Alnwick Garden Trust
3,628
Barnabas Manchester
8,500
BCFC Community Trust
9,751
Borderline
5,000
Buses4Homeless
3,795
Co. Durham Community Foundation
7,950
CDDFT Charity
1,500
MK YMCA
7,529
Changes UK CIC
12,528
Charity Begins at Home
13,000
DASH
500
Diane Modahl Sports Foundation
9,000
DMP Arena Trading
7,000|**2021**
**£**|
|---|---|
11
|Emmanuel House|9,272|
|---|---|
|Eva Women's Aid|1,500|
|First Stop Darlington|7,000|
|Foundation of Light|5,500|
|Greater Change|500|
|Hope Foundation|1,500|
|Lancashire Cricket Foundation|6,000|
|MCC Foundation|19,613|
|Meeting Needs|5,000|
|MK Bus Shelter|1,232|
|MK Dons Set|9,029|
|MK St Marks|500|
|My Sister's Place|3,500|
|NE Homeless|3,000|
|Notts County Foundation|7,272|
|Only A Pavement Away|5,000|
|Peasholme Centre|2,500|
|Red Sky Foundation|3,000|
|Redcar Cleveland Mind|2,700|
|Restore York|1,500|
|Shelter|9,154|
|SHP: Single Homeless Project|15,557|
|Street Paws|1,500|
|Sunderland Soup Kitchen|1,500|
|The Friary Nottingham|7,772|
|The Hope Foundation|1,500|
|The Salvation Army|1,500|
|White Feather Project|1,500|
|Walking With The Wounded|30,485|
12
|The Big Christmas Sleepout
Stay at Home
Grants Newcastle
Grants Halifax
Grants Northumberland
Grants Harrogate
Grants Teesside
Grants London
Saltburn Appeal|255,274|10,950
31,350
8,480
1,071
21,181
16,063
2,500
2,500
1,433|
|---|---|---|
|||95,528|
13
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 MARCH 2022**
## **6. STAFF COSTS AND EMOLUMENTS**
## **Total staff costs were as follows:**
**----- Start of picture text -----**
||||
|---|---|---|
|2022|2021|
|£|£|
|Wages and salaries|55,492|42,972|
|Social security costs|1,279|1,070|
|Other pension costs|1,648|3,228|
|──────── ────────|
|58,419|47,270|
|════════ ════════|
**----- End of picture text -----**
## **Particulars of employees:**
The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:
**----- Start of picture text -----**
|||
|---|---|
|2022|2021|
|2|1|
**----- End of picture text -----**
No employee received remuneration of more than £60,000 during the year (2021 - Nil).
## **7. TANGIBLE FIXED ASSETS**
**----- Start of picture text -----**
||||
|---|---|---|
|Equipment|
|£|
|COST|
|At 1 April 2021 and 31 March 2022|1,164|
|═══════|
|DEPRECIATION|
|At 1 April 2021|412|
|Charge for the year|291|
|────|
|At 31 March 2022|703|
|════|
|NET BOOK VALUE|
|At 31 March 2022|461|
|════|
|At 31 March 2021|752|
|════|
|INVESTMENTS|
|Movement in market value|
|2022|2021|
|£|£|
|Market value at 1 April 2021|1|1|
|────|────|
|Market value at 31 March 2022|1|1|
|════|════|
**----- End of picture text -----**
## **8. INVESTMENTS**
14
## **CEO SLEEPOUT CIO**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 MARCH 2022**
## **8. INVESTMENTS** _**(continued)**_
## **Analysis of investments at 31 March 2022 between funds**
||||**Total Funds**|
Total Funds|
|---|---|---|---|---|
||||**2022**|
2021|
||||**£**|£|
||**Other investments**||||
||Fixed asset investments||**1**|
1|
||||════|
════|
|**9.**|**DEBTORS**||||
||||**2022**|2021|
||||**£**|£|
||Prepayments||**1,045**|
1,321|
||||═══════|═══════|
|**10.**|**CREDITORS:** **Amounts falling due**|**within one year**|||
||||**2022**|2021|
||||**£**|£|
||Other creditors||**389**|
1|
||Accruals and deferred income||**1,020**|
1,020|
||||───────|───────|
||||**1,409**|
1,021|
||||═══════|═══════|
|**11.**|**UNRESTRICTED INCOME FUNDS**||||
|||**Balance at**|**Incoming**|**Balance at**|
|||**1 April 2021**|**resources**
**31**|**March 2022**|
|||**£**|**£**|**£**|
||General Funds|**58,576**|**90,245**|**148,821**|
|||═════════|═════════ ══════════||
15