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2023-03-31-accounts

CHARITY REGISTRATION NUMBER : 1154963

CEO SLEEPOUT CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

CEO SLEEPOUT CIO

ACCOUNTS

YEAR ENDED 31 MARCH 2023

CONTENTS PAGE
Trustees' annual report 2
Independent examiner's report to the trustees 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8

CEO SLEEPOUT CIO

LEGAL AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2023

The trustees

Mr Ali Mr Tunley Mr Preston Registered charity name CEO Sleepout CIO Charity registration 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

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CEO SLEEPOUT CIO

TRUSTEES' ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

The trustees present their report and the financial statements for the year ended 31 March 2023.

The accounts have been prepared in accordance with 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 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 2022 – 31 March 2023.

2022

CEO Sleepout Northumberland CEO Sleepout Middlesbrough CEO Sleepout Kent CEO Sleepout Harrogate Big McSleepout Big Summer Sleepout CEO Sleepout Oxford CEO Sleepout Manchester CEO Sleepout Sunderland CEO Sleepout Nottingham CEO Sleepout London CEO Sleepout Bristol CEO Sleepout Birmingham

2023 CEO Sleepout Newcastle CEO Sleepout Kent CEO Sleepout Middlesbrough

Staff

The charity is run operationally by one full-time employee (CEO).

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CEO SLEEPOUT CIO

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

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:

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.

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.

We are extremely happy with our progress this year as the charity has continued to grow and despite the lasting impact of Covid 19, we generated more income from sleepout events and donations this year.

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.

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CEO SLEEPOUT CIO

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 MARCH 2023

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 09 January 2024

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CEO SLEEPOUT CIO

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CEO SLEEPOUT CIO

YEAR ENDED 31 MARCH 2023

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 6 to 17.

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:

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

23 December 2023

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CEO SLEEPOUT CIO

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2023

Total Funds Total Funds
2023 2022
Note
£		 £
INCOMING RESOURCES
Incoming resources from generating funds:
Activities for generating funds 3 598,692 434,129
Incoming resources from charitable activities – 6,122
────────── ──────────
TOTAL INCOMING RESOURCES 598,692 440,251
────────── ──────────
RESOURCES EXPENDED
Charitable activities 5 (358,965) (255,274)
Governance costs 4 (138,070) (94,732)
────────── ──────────
TOTAL RESOURCES EXPENDED (497,035) (350,006)
────────── ──────────
NET INCOMING RESOURCES FOR THE YEAR 101,657 90,245
RECONCILIATION OF FUNDS
Total funds brought forward 148,821 58,576
────────── ──────────
TOTAL FUNDS CARRIED FORWARD 250,478
══════════		 148,821
══════════

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 2023

2023 2022
Note £ £ £
FIXED ASSETS
Tangible assets 7 170 461
Investments 8 1 1
──── ────
171 462
CURRENT ASSETS
Debtors 9 870 1,132
Cash at bank 254,676 148,636
────────── ──────────
255,546 149,768
CREDITORS: Amounts falling due within one
year 10 (5,239) (1,409)
────────── ──────────
NET CURRENT ASSETS 250,307 148,359
────────── ──────────
TOTAL ASSETS LESS CURRENT LIABILITIES 250,478 148,821
────────── ──────────
NET ASSETS 250,478 148,821
══════════ ══════════
FUNDS
Unrestricted income funds 11 250,478 148,821
────────── ──────────
TOTAL FUNDS 250,478 148,821
══════════ ══════════

These accounts were approved by the trustees on 09 January 2024.

Mr A. Preston Trustee

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CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS

YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Charity information

CEO Sleepout CIO is a Charitable Incorporated Organisation in England and Wales. The registered office is Boho Four, Gibson House, Cleveland Street, Middlesbrough, TS2 1AY.

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

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third parties in the furtherance of the charitable objects of the charity.

CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS (continued)

YEAR ENDED 31 MARCH 2023

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.

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CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS (continued)

YEAR ENDED 31 MARCH 2023

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.

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CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS (continued)

YEAR ENDED 31 MARCH 2023

.

2. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS

Unrestricted Total Funds Total Funds
Funds 2023 2022
£ £ £
CEO Sleepout events 598,692 598,692 434,129
══════════
══════════		 ══════════

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CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS (Continued)

YEAR ENDED 31 MARCH 2023

4. COSTS OF CHARITABLE ACTIVITIES

Unrestricted Total Funds Total Funds
Funds 2023 2022
£ £ £
Salaries and wages 77,919 58,420
Depreciation and Impairment 291 291
Admin Support 20,624 24,395
Donations 74 1,046
Marketing and PR 15,507 6,812
Cost of CEO Sleepout events 22,335 2,411
Independent examiner's fees 1,320 1,357
───────── ─────────
138,070 94,732
Grant funding activities (see note 5) 358,965 255,274

5. Grants Payable

5. Grants Payable
Grants Payable 2023
2022
£
£
3,628.81
500.00
6,000.00
8,500.00
600.00
9,751.24
15,000.00
5,000.00
3,795.00
7,950.00
1,500.00
7,529.98
Grants to charities and institutions:
Alnwick Garden
Away Out
Barnabas Manchester
Barnabas S&S
BCFC Community Trust
Borderline
Buses4Homeless
CDCF
CDDFT Charity
CEO MK YMCA

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Change Please 5,000.00
Changes UK CIC 11,686.91 12,528.30
Charity Begins at Home 23,522.68 13,000.00
Charity Boxing Match 8,282.98
Clifton Rugby 3,000.00
DASH 500.00
DEC 4,000.00
Depaul UK 14,500.00
DMFS 3,500.00 9,000.00
DMP Arena Trading 7,000.00
Emmanuel House 7,776.25 9,272.50
Eva Women's Aid 1,500.00
First Stop Darlington 7,000.00
Footprints in the Community 500.00
Foundation of Light 6,000.00 5,500.00
Greater Change 500.00
Haircuts 4 Homeless 8,000.00
Harrogate Foodbank 1,000.00
Help Bristol's Homeless 10,000.00
Hope Foundation 1,500.00
HRUFC 5,000.00
LCF 5,000.00 6,000.00
Leeds Castle 3,175.76
Lords 5,000.00 19,613.00
Meeting Needs 5,000.00
MK Bus Shelter 1,232.30
MK Dons Set 9,029.98

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MK St Marks 500.00
My Sister's Place 3,500.00
NE Homeless 3,000.00
Northumbria Citizens Advice 400.00
Notts County Foundation 7,776.25 7,272.50
NUF 24,624.77
OAPA 40,000.00 5,000.00
Oxford Homeless Movement 23,880.00
Peasholme Centre 2,500.00
Porchlight 11,430.72
Red Sky Foundation 15,000.00 3,000.00
Redcar Cleveland Mind 2,700.00
Restore York 1,500.00
Ripon YMCA 2,500.00
RMHCUK 6,000.00
Saltburn foodbank
Shelter 2,000.00 9,154.93
SHP 15,557.81
Street Paws 1,500.00
Street Soccer Foundation 500.00
Sunderland Soup Kitchen 2,000.00 1,500.00
Tees Valley Together 500.00
The Big Issue Foundation 2,000.00
The Billy Chip 6,000.00
The Cyrenians 25,958.59
The Friary 7,776.25 7,772.50
The Hope Foundation 1,500.00
The Salvation Army 500.00 1,500.00
TRAC UK 500.00
White Feather Project 1,500.00
WWTW 27,574.00 30,485.28

14

Youth Experience in Sport

5,000.00

255,274.13

358,965.16

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CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS (Continued)

YEAR ENDED 31 MARCH 2023

6. STAFF COSTS AND EMOLUMENTS

Total staff costs were as follows:

Total staff costs were as follows:
2023 2022
£ £
Wages and salaries 72,990 55,492
Social security costs 2,798 1,279
Other pension costs 2,131 1,648
───────── ─────────
77,919 58,419

Particulars of employees:

The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:

2023 2022
1
 2

1 employee received remuneration of more than £60,000 during the year (2022 - Nil).

7. TANGIBLE FIXED ASSETS

Equipment
£
COST
At 1 April 2022 and 31 March 2023 1,164
═══════
DEPRECIATION
At 1 April 2022 703
Charge for the year 291
────
At 31 March 2023 994
════
NET BOOK VALUE
At 31 March 2023 170
════
At 31 March 2022 461
════

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CEO SLEEPOUT CIO

NOTES TO THE ACCOUNTS (Continued)

YEAR ENDED 31 MARCH 2023

8. INVESTMENTS
Movement in market value
2023 2022
£ £
Market value at 1 April 2022 1 1
──── ────
Market value at 31 March 2023 1 1
════ ════
Historical cost at 31 March 2023 1 1
════ ════
Analysis of investments at 31 March 2023 between funds
Total Funds Total Funds
2023 2022
£ £
Other investments
Fixed asset investments 1 1
9. DEBTORS
2023 2022
£ £
Prepayments 870 1,045
════ ═══════
10. CREDITORS: Amounts falling due within one year
2023 2022
£ £
Other creditors 3,079 1
Accruals and deferred income 2,160 1,020
─────── ───────
5,239 1,409
═══════ ═══════
11. UNRESTRICTED INCOME FUNDS
Balance at Incoming Balance at
1 April 2022 resources 31 March 2023
£ £ £
General Funds 148,821 101,657 250,478
══════════ ══════════ ══════════

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