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2022-03-31-accounts

Company Registration No. 08727717 Charity Number 1155389

PURE INSIGHT 1628

A COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

For the year ended 31 March 2022

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Financial Statements

Year ended 31 March 2022

CONTENTS Page
Members of the Board and Professional Advisers 1
Trustees’ Annual Report 2 - 7
Independent Auditors’ Report 8 - 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14-25

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Members of the Board and professional advisors

Registered Charity Name Pure Insight 1628
Company Registration Number 08727717
Charity Number 1155389
Registered Office Prospect House
Newby Road
Hazel Grove
Stockport
Cheshire
SK7 5DA
Board of Trustees Mr O Gardner
Mr E Nixon
Mr A Britton
Mrs S Watkins
Mrs J Bagchi
Ms L Rogers (appointed 16 March 2022)
Mr N Ward (appointed 16 March 2022)
Mr D Zucker (appointed 16 March 2022)
Auditors Mitchell Charlesworth (Audit) Limited
Registered Auditor
3rdFloor
44 Peter Street
Manchester
M2 5GP
Bankers Co-operative Bank plc
St Peters Square
Stockport
SK1 1NX

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report

Year ended 31 March 2022

The trustees are pleased to present their annual trustees’ report together with the financial statements of the charity for the year ended 31 March 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Companies Act 2006 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) (effective 1 January 2019)”.

Objectives and activities

The charity’s purpose is specifically restricted to the relief and assistance of children and young people in need including (without limiting the foregoing) by providing support, activities or advice which develop their capacity, skills, capabilities and economic and emotional wellbeing in such a way that they are better able to identify and help meet their needs and to participate more fully in society.

Pure Insight delivers a range of projects providing practical and emotional support to young people who have left or are about to leave statutory care in Local Authorities in the North West. Our projects address a range of serious issues including homelessness, loneliness and isolation, poor mental/physical health, offending, trauma and resilience, and lack of opportunities. We provide opportunities for young care leavers to develop skills, confidence, talents and support networks in the local community. As a Trauma Informed organisation, our ethos is supporting care leavers to not just survive, but to thrive and flourish by creating places and people to belong to in the local community. We focus on stage, not age, so care leavers can come back to us up to the age of 28 if they need support to make changes in their lives or there are opportunities to join our volunteer and staff team.

Our current service offers include drop in cafés, bespoke parent support, mentoring programmes, peer mentoring, volunteering, and “through the eyes of” training. We work in partnership with other local organisations to deliver bespoke employment support and targeted mental health provision including psychological wellbeing workers and fast track trauma counselling. We influence local providers’ current and future service offers to care leavers through our participation groups “Have Your Say” and “Young Advisors Panel” which gives care leavers a voice at both a grass roots and strategic level. We also use care leavers’ feedback to constantly evolve and develop our own services and services in the public sector.

As a trauma informed organisation, honest, trusting relationships run through the veins of all that we are and do. A young person’s journey starts by having the opportunity to share what is important to them, what’s happened or is currently happening to them, what skills and talents they have, and what is currently getting in the way of them living their best life. We find our openness and transparency leads to young people feeling they can share fairly and quickly the challenges they are facing.

We have a strength based approach and strength based tools to support young people to identify their aspirations, and goals and break down in achievable chunks how they will get there, what support/resources they need to make this achievable and their role within this.

We are an organisation working with human beings facing extraordinary challenges, so we see the full range of human responses every week. Our recruitment is based on our key values in addition to skills and we seek out people who are resilient, passionate and can put themselves into another’s shoes to find solutions that make sense and are sustainable in the longer term. We are proud to say we have a growing army of committed, kind people who understand the needs of our young people and are happy to volunteer their time.

Key values:

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report

Year ended 31 March 2022 (continued)

Public benefit statement

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees are clear that the purposes of Pure Insight 1628 are carried out for public benefit. They have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the purpose and objectives and when planning the future activities. The trustees consider how planned activities will contribute to the aims and objectives they have set.

Achievements and performance

The work we deliver through a range of targeted projects, leads to outcomes including

In the past two years we have:

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report

Year ended 31 March 2022 (continued)

COVID - 19

The past year was still one in which the COVID-19 pandemic has had a significant impact upon our young people and the ways in which we have worked with them. The need for our services has never been greater, and all members of the team have worked tirelessly through the year to deliver against those needs whilst juggling childcare/home life. We are extremely proud of the way the team have adapted, remained flexible and used their creativity to innovate under extremely difficult circumstances.

We were able to obtain some additional funding to finance essential equipment and day to day requirements for many of those clients to alleviate crisis. We have worked hard with partners to increase capacity in all areas by developing hybrid models of working, increasing staffing, and developing new projects and services with young people.

Partnerships

Through the last year we have been commissioned by, and worked in partnership with 5 local authorities; Stockport, Cheshire East, Trafford, Salford and Warrington.

The charity also receives income from a number of grant making organisations who are prepared to fund specific projects offered by Pure Insight and/or support our core delivery.

Financial Review

The income has declined from £650,599 to £559,929 which has resulted in a reduction of the overall profit for the year from £84,739 (including £6,675 in respect of restricted funds) in 2021 to a deficit of (£28,020) in 2022 of which a deficit of £12,385 is in respect of restricted funds. The profit on the unrestricted funds which was £78,064 in 2021, has now become a deficit of £15,635 in 2022.

Reserves Policy

The board is mindful that it needs to retain sufficient funds to maintain its ability to deliver its services to clients and considers that the current level of unrestricted reserves is adequate to achieve that purpose.

Investment powers and policy

Currently, available funds are held in two bank accounts. However, as the charity continues to grow and remain profitable, it is anticipated that funds will need to be potentially spread across a range of other suitable financial institutions in order to reduce financial risk and to seek the best return for the money held on deposit.

Risk Management

The Executive Management Team is in the process of establishing a review of the major risks to which the charity is exposed. These reviews will be updated at least annually. Where appropriate, systems and procedures have been established to mitigate the risks the charity faces. External risks to funding have led to the development of a strategic plan which will allow for diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects.

Procedures are in place to ensure compliance with the health and safety of staff, volunteers, clients and visitors to the charity. The contracts and service level agreements with the charity’s partners provide for regular review of the quality of service delivered. Quality standards have been established that meet or exceed the contractual commitments.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report

Year ended 31 March 2022 (continued)

Plans for the future

Pure Insight’s strategy for the period January 2021 - December 2022 is to:

Pure Insight is currently operating in Stockport, Cheshire East, Salford, Warrington and Trafford. We are keen to scale and replicate our successful models: Mentoring, Psychological Wellbeing Service, Participation and Peer Group projects, and Intensive support to care experienced parents. We hope the recent evaluation of our successful models of working with care leavers will support us in achieving our aims and objectives around scale and growth.

We would like to further develop the training brand of the charity to support local authorities across the UK to develop and replicate their own successful models of working with young care leavers.

Structure, governance and management

Pure Insight 1628 is a company limited by guarantee, it was incorporated on 10 October 2013 and registered as a charity on 20 January 2014. The company has been established under its Memorandum of Association which defines the objects and powers of the charitable company and is governed under its Articles of Association.

In the event of the company being wound up, its members are required to contribute an amount of £1 each.

Directors and Trustees

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms L Parrott-Bates (resigned 14 October 2022)

Mr E Nixon Mr A Britton Mr O Gardner Ms S L Watkin Mrs J Bagchi Ms L Rogers (appointed 16 March 2022) Mr N Ward (appointed 16 March 2022) Mr D Zucker (appointed 16 March 2022)

Key management personnel: Principal staff

Charity Founder: Ms S Sturmey

Appointment and reappointment of Trustees

Under the requirements of the Memorandum and Articles of Association the Trustees are elected to serve for a period of three years, after which they must be re-elected at the Annual General Meeting.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report

Year ended 31 March 2022 (continued)

Trustee induction and training

Existing trustees are already familiar with the practical work of the charity and have received a detailed induction.

Additionally, new trustees, when invited to join the board are provided information to familiarise themselves with the charity and the context within which it operates. These cover:

An induction pack has also been prepared drawing information from the various Charity Commission publications signposted through the Commission’s guide ‘the Essential Trustee’ as a follow up to these sessions. This is distributed to all new trustees along with the Memorandum and Articles of Association and the latest financial statements. Feedback from the trustees following their induction has been very positive.

Governance

An extensive range of business and caring skills are well represented on the Board and a full range of trustee skills has been sought in order to manage the operations of the charity to best effect.

Pure Insight has a board who meet every two months and are responsible for the strategic direction and policy of the charity. At present the Board has four members from a variety of interests and professional backgrounds relevant to the work of the charity.

A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Charity Founder along with other members of the Management Team. They are responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The charity founder also has responsibility for the day-to-day operational management of the company, individual supervision of the management team and also ensuring that the team continues to develop their skills and working practices in line with good practice.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Trustees’ Annual Report

Year ended 31 March 2022 (continued)

Statement of Trustees' responsibilities

The trustees, who are also directors of Pure Insight 1628 for the purpose of company law, are responsible for preparing the Trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditors

A resolution proposing that Mitchell Charlesworth be re-appointed will be put at a General Meeting.

Statement as to disclosure to our auditors

In so far as the trustees are aware at the time of approving our trustees’ annual report:

Signed by order of the Trustees

Mr N Ward Trustee

Dated: 14/12/2022

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Independent Auditor's Report To the Members of Pure Insight 1628

Opinion

We have audited the financial statements of Pure Insight 1628 for the year ended 31 March 2022 which comprise of the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Independent Auditor's Report To the Members of Pure Insight 1628

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a 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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Independent Auditor's Report To the Members of Pure Insight 1628

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with the laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to the timing of the recognition of income. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override and we identified risk in relation to the posting of unusual journals and the manipulation of accounting estimates.

We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included Safeguarding, 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK (FRS 102), and the Companies Act 2006.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included Data Protection Regulations.

Audit response to risks identified

As a result of performing the above, we identified the recognition of revenue as the key audit matter related to the potential risk of fraud.

In addition to the above, our procedures to respond to risks identified included the following:

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations described above as having a direct effect on the financial statements;

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Independent Auditor's Report To the Members of Pure Insight 1628

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Buckley (Senior Statutory Auditor) 14/12/2022 For and on behalf of Mitchell Charlesworth (Audit) Limited 3[rd] Floor Statutory Auditor 44 Peter Street Manchester M2 5GP

Mitchell Charlesworth (Audit) Limited is eligible to act an auditor in terms of section 1212 of the Companies Act 2006.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2022

Note
Unrestricted
Funds
£
Income
Donations and legacies
2
15,212
Grants and donations
3
231,471
Other trading income
4
215
Investments
5
508
Total income
247,406
Expenditure
Charitable activities
6
249,502
Net (outgoing)/incoming
resources before transfers
(2,096)
Transfers between funds
(13,539)
Net movement of funds
for the year
(15,635)
Reconciliation of funds
Total funds brought
forward
260,590
Total funds carried forward
244,955		 Restricted
Funds
Total Funds
2022
Unrestricted
Funds
£
£
£
-
15,212
8,309
312,523
543,994
139,066
-
215
-
-
508
643
312,523
559,929
148,018
338,447
587,949
69,704
(25,924)
(28,020)
78,314
13,539
-
(250)
(12,385)
(28,020)
78,064
239,301
499,891
182,526
226,916
471,871
260,590		 Restricted
Funds
Total Funds
2021
£
£
-
8,309
502,581
641,647
-
-
-
643


502,581
650,599


496,156
565,860


6,425
84,739
250
-


6,675
84,739
232,626
415,152


239,301
499,891

The Statement of Financial Activities includes all gains and losses in the year and all income and expenditure derive from continuing activities.

The notes on pages 14 - 25 form part of these financial statements.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Balance sheet as at 31 March 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: Amounts falling due within one
year
12
Net current assets
Total assets less current liabilities
Income funds
Unrestricted income funds
Restricted income funds
14
Total funds		 2022
£
£
8,015
1,073
562,909

563,982
(100,126)

463,856
471,871
244,955
226,916
471,871		 2021
£
£
14,604
750
502,754

503,504
(18,217)

485,287
499,891
260,590
239,301
499,891		 2021
£
£
14,604
750
502,754

503,504
(18,217)

485,287
499,891
260,590
239,301
499,891
499,891
260,590
239,301
499,891

For the year ended 31 March 2022 the company was entitled to the exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to audit under section 144 of the Charities Act 2011.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of section 386 of the Act with respect to accounting records and for the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements were approved by the trustees on ________ and are signed on their behalf 14 December 2022 by:

Mrs S Watkins - Trustee

Mr N Ward - Trustee

Company Registration No. 08727717

The notes on pages 14 - 25 form part of these financial statements.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

1. Accounting policies

Charity information

Pure Insight 1628 is a private company limited by guarantee and incorporated in England and Wales. The registered office is Prospect House, Newby Road, Hazel Grove, Stockport, Greater Manchester, SK7 5DA.

Accounting convention

The financial statements have been prepared in accordance with the charity’s governing document, the Companies Act 2006 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) (effective 1 January 2019)”. 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.

These 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 cost convention. The principal accounting policies adopted are set out below.

Going concern

The trustees continue to monitor the impact of the COVID-19 pandemic and continue to evaluate the charity’s ability to continue to provide services for the foreseeable future, this includes discussions with the charity’s stakeholders, where appropriate, and a review of trading forecasts for a period of 12 months from the date of approval of these accounts.

The charity continues to meet its financial obligations as they fall due and based on their consideration of all relevant information the trustees have a reasonable expectation that the charity will be able to continue as a going concern. Thus, the trustees are satisfied to continue to adopt the going concern basis of accounting in the preparation of the financial statements.

Charitable funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are funds which have been allocated or designated for specific purposes by the charity out of unrestricted funds.

Restricted funds are subject to specific restrictive conditions imposed by the donor or by the purpose of the contract/monies received.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

1. Accounting policies (Continued)

Income

Income is the amount derived from the provision of goods/services and stated after trade discounts, other sales taxes, and VAT where applicable.

Income is recognised when the charity has entitlement to the 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, whether ‘capital’ grants or ‘revenue’ grants, 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. Grants are deferred to future periods only when this is specified by the funder or other preconditions of the fund are not yet met.

Investment income is recognised on a receivable basis.

Expenditure

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 under the following activity headings:

Tangible fixed assets

All fixed assets are initially recorded at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of the asset, less its estimated residual value, over their useful lives on the following basis:

Fixtures and fittings - 33.33% of cost Motor vehicles - 33.33% of cost

The gains or losses 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.

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 such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

1. Accounting policies (Continued)

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.

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 value of the future receipts discontinued 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 or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction prices 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.

Pensions

As from August 2017, the charity has operated an auto enrolment defined contribution scheme for all eligible employees in line with current legislation.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

2. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Donations and legacies 15,212 15,212 8,309 8,309

The grant from Stockport MBC is contractually paid to Pure Innovations Limited in the first instance.

Unrestricted Restricted Total Funds Unrestricted Unrestricted Restricted Total Funds
3. Grants and donations Funds Funds 2022 Funds Funds 2021
£ £ £ £ £ £
Big Lottery Fund –
Reaching Communities - - - - 54,295 54,295
Healthy Young Minds - - - - 49,861 49,861
Trafford Housing Trust - - - - 53,189 53,189
Steve Morgan - 20,167 20,167 - 24,720 24,720
Williams Foundation - 54 54 - 3,123 3,123
Christmas Dinner - 10,666 10,666 - 6,841 6,841
Stockport MBC 51,553 - 51,553 47,400 - 47,400
Trafford Council 9,000 - 9,000 15,000 - 15,000
Cheshire East Council 87,952 - 87,952 60,000 - 60,000
Salford MBC 27,083 - 27,083 16,666 - 16,666
Henry Smith - 39,100 39,100 - 39,100 39,100
COVID-19 - - - - 71,797 71,797
National Lottery - 102,536 102,536 - 175,836 175,836
Spark Foundation - 825 825 - 600 600
Warrington 30,000 10,000 40,000 - 18,219 18,219
Trafford Extension - - - - 5,000 5,000
Cheshire Community
Foundation 6,300 17,000 23,300 - - -
Rayne Foundation - 25,000 25,000 - - -
Lloyd's Foundation 14,583 - 14,583 - - -
Crewe Town Council 2,500 - 2,500 - - -
Awards for All - 10,000 10,000 - - -
Paul Hamlyn Fund - 30,000 30,000 - - -
Wellan Trust - 42,175 42,175 - - -
Schroder - 5,000 5,000 - - -
Arnold Clarke 2,500 -
 2,500
-
 - -
231,471 312,523
 543,994
139,066
 502,581
 641,647
4. Other trading income Unrestricted
Total Funds
Unrestricted		 Total Funds
Funds 2022 Funds 2021
£ £ £ £
Tuck shop and drinks 215 215 - -

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

5. Investments Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Interest receivable 508 508
 643 643
6. Charitable activities Total Total
2022 2021
Client services £ £
Staff costs 367,293 331,271
Depreciation and impairment 8,648 7,408
Client related costs 92,033 60,239
Secondment and salary recharge 61,689 72,077
Healthcare 3,515 3,945
IT costs 9,106 2,873
Office expenses 39,426 30,497
COVID-19 expenditure - 53,602
Training costs 2,104 1,868
583,814 563,780
Share of governance costs (see note 7) 4,135 2,080
587,949 565,860

Expenditure on charitable activities was £587,949 (2021: £565,860) of which £249,502 (2021: £69,704) was unrestricted and £338,447 (2021: £496,156) was restricted.

7.
Support costs
Audit fees
Accountancy fees
Analysed between
charitable activities		 Support
Costs
Governance
Costs
£
£
-
2,100
-
2,035

-
4,135
 2022
£
2,100
2,035
4,135		 Support
Costs
Governance
Costs
£
£
-
2,080
-
-

-
2,080
 2021
£
2,080
-
2,080

8. Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

9.
Employees
The average monthly number of employees during the year was:
Charitable activities
Wages and salaries
Social security costs
Other Pension costs		 2022
No
18

2022
£
335,598
23,512
8,183

367,293
 2021
No
16
2021
£
300,741
23,633
6,897
331,271

No employees had emoluments in excess of £60,000 during this or the prior year.

No charity trustees received any emoluments, expense reimbursements or payment for professional or other services during the year. The key management personnel of the charity comprise the trustees and the Charity Founder. The total employee benefits of the key management personnel are £52,221 (2021: £50,530).

In addition to the staff directly employed by the company, the company utilises members of staff seconded from Pure Innovations Limited. The total employment costs recharged in relation to these staff is quantified in note 6 above.

In addition, there is a strong team of volunteers that support services to local young people. No value has been attached to this volunteer time.

10.
Tangible fixed assets
Fixtures and
Fittings
£
Cost
At 1 April 2021
16,299
Additions
2,059

At 31 March 2022
18,358

Depreciation and impairment
At 1 April 2021
7,499
Charge for the year
5,331

At 31 March 2022
12,830

Net book value
At 31 March 2022
5,528

At 31 March 2021
8,800
 Motor
Vehicles
£
9,950
-
9,950

4,146
3,317
7,463

2,487

5,804		 Total
£
26,249
2,059
28,308
11,645
8,648
20,293
8,015
14,604

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PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

11.
Debtors
2022
£
Amounts falling due within one year:
Prepayments and accrued income
1,073
12.
Creditors: amounts falling due within one year
2022
£
Other taxation and social security
6,516
Deferred income (Note 13)
87,191
Accruals
6,419
100,126
13.
Deferred Income
2022
£
Deferred income includes £87,191 (2021 - £7,083) received in advance on time restricted contracts.
Balance brought forward
7,083
Utilised in period
(129,964)
Added in period
210,072
87,191		 2021
£
750
2021
£
5,984
7,083
5,150
18,217
2021
£
20,000
(15,000)
2,083
7,083

20 | P a g e

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

14. Analysis of charitable funds - current year

Analysis of unrestricted fund movements

Balance at Incoming Resources Balance at
1 April 2021 resources expended Transfers 31 March 2022
£ £ £ £ £
Total general funds 260,590 247,406 (249,502) (13,539) 244,955

The income funds of the charity include restricted funds comprising the following unexpected balances of donations and grants held on trust for specific purposes.

Analysis of restricted fund movements


1
Christmas Dinner
Steve Morgan Foundation
Healthy Young Minds
Williams Foundation
Care Conference
Trafford Housing Trust
The Henry Smith Charity
COVID-19 Relief
National Lottery
Spark Foundation
Warrington
Trafford Extension
Cheshire Community
Foundation
Rayne Foundation
Awards for All
Paul Hamlyn Fund
Wellan Trust
Schroder
Total unrestricted funds		 Balance at
April 2021
£
8,357

-

15,964
1,585

8,288
7,287
14,415

26,611
133,475
100

18,219

5,000
-
-

-

-

-

-

239,301
 Incoming
resources
£
10,666
20,167
-
54
-
-
39,100
-
102,536
825
10,000
17,000
25,000
10,000
30,000
42,175
5,000
312,523
 Resources
expended
£
(6,173)
(33,646)
(15,964)
(1,303)
(8,288)
(7,287)
(39,128)
(26,671)
(132,697)
(857)
(23,009)
(5,000)
(1,834)
(16,667)
(4,167)
(12,500)
(3,256)
-

(338,447)
 Balance at
Transfers
31 March 2022
£
£
-
12,850
13,479
-
-
-
-
336
-
-
-
-
-
14,387
60
-
-
103,314
-
68
-
5,210
-
-
-
15,166
-
8,333
-
5,833
-
17,500
-
38,919
-
5,000
13,539
226,916

21 | P a g e

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

14. Analysis of charitable funds - current year (continued)

Awards for All This fund has been used to support the organisation achieve its
objectives by providing specific financial support in the Stockport
area.
National Lottery
To scale our successful mentoring programme into two new local
authority areas and secure funding for the service in the longer
term.

Additional lottery funding has been secured to offer services in
another authority borough (Salford), and to provide additional
support not only there, but in other areas in which we operate.
Christmas Dinner This is money raised to hold an annual Christmas Day Dinner for
many of our clients who would not otherwise have the
opportunity of being and sharing with others on that day.
Steve Morgan Foundation
A project based in Crewe providing a service to Care Leavers in
that area.
Healthy Young Minds
This is a project which aims to improve the mental state of the
Care Leaver clients through use of psychological and wellbeing
workers.
Williams Foundation
This enables us to help fund a small package of household goods
for clients moving into a property for the first time.
Care Conference
This was used to fund a national care conference in Liverpool in
April 2019, and will be used for other similar purposes in the
future.
Cheshire Community Foundation
This has helped us to provide additional activities within our
Cheshire East area, such as the operation of a café.
Paul Hamlyn Fund
This fund has helped us to support our clients across a wide
geographical area, by providing additional funding which has
been utilised in a variety of ways.
Rayne Foundation
This has helped to fund a project support worker post in some of
our more deprived areas that we work in.
Schroder
This will be used to provide top up funding enabling some of our
activities to take place.
Trafford Housing Trust
This is providing a service to Care Leavers in the Trafford area
enabling them to move into accommodation as part of a move
into a settled life.
The Henry Smith Charity
This fund is being used to fund a Psychological Wellbeing Worker
to provide counselling, emotional support and life skills training
to young people aged between 16-28, who are leaving care in
Stockport.

22 | P a g e

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

14. Analysis of charitable funds - current year (continued)

Wellan Trust This specifically has allowed us to recruit an additional post, being an employment officer who works across a number of areas.

COVID-19 Relief This fund is being used to provide equipment and other necessities for our clients to support them through the pandemic and be in a better state of mind and place, than would otherwise be the case.

Spark Foundation This enables us to help cover some expenses for clients when they are moving home.

Warrington To support the range of services we are delivering in that borough, in addition to the local council contribution.

Trafford Extension

This allows us to cover the costs of providing a service in Trafford until such time as the contracts in that borough comes to an end.

23 | P a g e

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

Analysis of charitable funds - prior year

Analysis of unrestricted fund movements

Balance at Incoming Resources Balance at
1 April 2020 resources expended Transfers 31 March 2021
£ £ £ £ £
Total general funds 182,526 148,018 (69,704) (250) 260,590

The income funds of the charity include restricted funds comprising the following unexpected balances of donations and grants held on trust for specific purposes.

Analysis of restricted fund movements


1
Big Lottery Fund -
Reaching Communities
Christmas Dinner
Steve Morgan Foundation
Healthy Young Minds
Williams Foundation
Care Conference
Trafford Housing Trust
The Henry Smith Charity
COVID-19 Relief
Big Lottery Fund -
Reaching Communities 2
Spark Foundation
Warrington
Trafford Extension
Total unrestricted funds		 Balance at
April 2020
£
-
6,903
-
25,066
2,206
8,288
4,474
18,153
8,416
159,120
-
-
-
232,626
 Incoming
resources
£
54,295
6,841
24,720
49,861
3,123
-
53,189
39,100
71,797
175,836
600
18,219
5,000
502,581
 Resources
expended
£
(54,295)
(5,387)
(24,970)
(58,963)
(3,744)
-
(50,376)
(42,838)
(53,602)
(201,481)
(500)
-
-

(496,156)
 Balance at
Transfers
31 March 2021
£
£
-
-
-
8,357
250
-
-
15,964
-
1,585
-
8,288
-
7,287
-
14,415
-
26,611
-
133,475
100
18,219
5,000
250
239,301

24 | P a g e

PURE INSIGHT 1628 A COMPANY LIMITED BY GUARANTEE

Notes to the Financial Statements Year ended 31 March 2022

15. Analysis of net assets between funds -
current year Restricted Unrestricted Total Funds
Funds Funds 2022
Fund balances at 31 March 2022 are £ £ £
represented by:
Tangible assets 8,015 - 8,015
Current assets 236,940 226,916 463,856
Net assets 244,955
 226,916
 471,871
Analysis of net assets between funds -
prior year Restricted Unrestricted Total Funds
Funds Funds 2021
Fund balances on 31 March 2021 are £ £ £
represented by:
Tangible assets 14,604 - 14,604
Current assets 245,986 239,301 485,287
Net assets 260,590
 239,301
 499,891

16. Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Salaries Other costs
2022 2021 2022
2021
£ £ £
£
Entities with control, joint control or
significant influence over the company 61,689 72,077 9,502
22,170

The company was recharged the above amounts by Pure Innovations Limited (see note 17 below).

There was no outstanding balance due at the year end.

17. Control

The company is controlled by Pure Innovations Limited (company number 05241249), a company incorporated in England & Wales, who’s registered office is Prospect House, Newby Road, Hazel Grove, Stockport, Greater Manchester, SK7 5DA.

Pure Innovations Limited is an incorporated charity that provides relief of unemployment through education and training schemes, and the provision of care and recreational facilities to those in need.

25 | P a g e