DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE Report and Financial Statements Year ended 31 March 2021 Oval Learning Cluster Charity number 1156350 `www.ovallearning.org` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE ## Oval Learning Cluster **`Status:`** `Oval Learning Cluster is a charity registered in England and Wales. The governing document is its Articles of Association.` ## **`Registered office:`** `The Foundry, 17 Oval Way, London SE11 5RR` **`Trustees:`** ## **`Independent examiner:`** `Sola Ingram Caroline Andrews Cordelia Cooper (appointed October 2020)` `Heather Devine` **`Bankers:`** `NatWest Bank 504 Brixton Road London SW9 8EB` `The co-operative bank PO Box 250, Delf House Southway Skelmersdale WN8 6WT` `www.ovallearning.org` `2` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE ## Oval Learning Cluster Trustees’ Report for the Year Ended 31 March 2021 `The trustees present their report and the financial statements for the year ended 31 March 2021. This is also a Trustees’ Report as required by the Charities Act 2011. The financial statements comply with current statutory requirements and the requirements of the governing document.` ## `Structure, Governance and Management` `Oval Learning Cluster began more than 10 years ago as a network of primary, secondary and special schools, known as members. Member schools make a small annual contribution towards core costs, and work together with neighbouring schools and organisations to address common challenges and benefit children and young people.` `The organisation registered as a charitable association in 2014.The founding trustees were headteachers from the original cluster partnership and subsequent trustees are elected by representatives of member schools.` `The constitution was updated in November 2020 to reflect that the charity’s work extends beyond Oval Ward, and to clarify the strategic focus through schools as a means of reducing inequalities for children and young people.` `Oval Learning’s programmes for children and young people are usually delivered through partnership agreements with schools or other partners. Our organisation therefore has minimal overheads and can adapt quickly to changing needs.` `The trustee board reduced in size during the year to minimise pressure on head teachers during the pandemic while ensuring effective governance. The following also served as trustees during the first half of the year: Jayne Mitchell, Lucy Peake, Gary Phillips, Andrew Terrey,Andrew Chaplin, Juanita Gittens, Adam Hickman, Linda Adams, Linda Campbell. Their schools remain as members and we are grateful for their ongoing energy, commitment and support.` `During the year the charity engaged a team of part-time community connectors and partnership leads to develop and support projects and programmes working across schools with groups of parents, children and school staff, charities, sports and arts organisations and other partners.` ## `Objectives and Activities` `The updated objectives set out in the governing document are` _`to advance education and relieve the needs of young people and their families in and around the Oval area of London in particular but not exclusively by supporting a network of schools and other organisations to offer outstanding teaching and extra-curricular experiences, and to improve opportunities for learning, guidance, support and care.`_ `The new objects were mainly a clarification of wording and to give greater scope to broaden geographical reach in future. In` `www.ovallearning.org` `3` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `practice the bulk of our work remains focused on our original target neighbourhoods around Oval.` `We operate in a densely populated urban area in one of the most ethnically, linguistically and culturally diverse parts of Britain. The majority of pupils at the schools we work with live in poverty and 85% of Lambeth pupils are from black and ethnic minority backgrounds. Our objectives have been met through the charity’s activities for the year, summarised in the following table.` - **`Health and wellbeing programmes for children and families`** `£163,985` - _`During the year we aimed to: - Consolidate and extend ‘early help’ for children’s social`_ `54% of` _`and emotional health, by resourcing schools to commission`_ `expenditure` _`a network of therapists and counsellors.`_ `during the` - _`Introduce a new grants programme to help secondary schools`_ `year` _`embed healthy nutrition and increase physical activity.`_ - _`Invest in music, arts and sports to address inequalities and strengthen skills, confidence and social connections.`_ - _`Work with Special Educational Needs (SEN) school staff to target support and activities for families with multiple challenges of poverty and disability`_ - `-` _`Identify and nurture new school/ community projects to support children’s development.`_ |**Fundraising, coaching, training, coordination and peer support**|9% of| |---|---| |_We aimed to build the capacity of schools and their voluntary and_|expenditure| |_community sector partners so they are better equipped to work_|during the| |_together to offer holistic support for young people._|year| |**Covid Response**|£113,243| |_We aimed to build our team of community connectors and_|| |_partnership leads, distribute laptops, art materials and_|37% of| |_nutritious supplies, support recovery programmes for those most_|expenditure| |_impacted by the pandemic, and provide emergency grants and care_|during the| |_packages direct to households in crisis,_|year| `The majority of the expenditure on the Wellbeing Programmes and the COVID response is either via grants to schools or direct to providers of the services to children.` `The trustees confirm they have complied with the guidance contained in the Charity Commission’s general guidance on public benefit in section 4 of the Charities Act 2011 when reviewing the activities of the charity.` ## `Achievements and Performance` `This was a demanding and rewarding year.` `During the year we supported 40 Lambeth schools by funding partnership leads within and between three cluster networks of primary, secondary and special schools.This local infrastructure helped schools and delivery partners to adapt rapidly to changing circumstances and develop effective community hubs. Our` `www.ovallearning.org` `4` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `survey of headteachers in February 2021 showed they value the partnership with Oval Learning, and place particular importance on the support Oval Learning provides to boost school budgets and enable rich and varied activities and support for children and young people.` `Other achievements:` - `Designed a new pupil-led grants programme and trialled this in eight secondary schools to make lasting improvements to opportunities for physical activity during the school day. We commissioned The Social Innovation Partnership to undertake a process evaluation which will inform future funding programmes through school communities.` - `Incubated South London Strings first holiday music programme for 15 local children, and Vincent’s Treasures arts and heritage creative learning programme for 120 children with Van Gogh House.` - `Invested in individual and group instrumental music tuition for 150 children aged 5-11 in three schools.` - `Grew our targeted ‘early help’ support to address mental health and behavioural challenges, with weekly therapy sessions to 135 children aged 4-11 across 24 different settings, and facilitated interschool forums for mental health leads and therapists. 93% of teachers said that children involved in the creative therapies programme had improved relationships with peers and with teachers, and 78% said the project gave valuable insight into how to support good mental health and wellbeing for all.` - `Became a referral partner for the British Red Cross Hardship Fund which provided cash grants to 49 families in crisis, helping them retain agency and control.` `www.ovallearning.org` `5` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `In future we aim to scale and strengthen impact by securing core strategic partnerships, moving away from restricted funding streams. We are well placed to bridge the gap between funders, schools and community-based delivery partners, to triangulate shared objectives to benefit children, and help to amplify the voices of children, parents and school staff.` ## `Financial Review` `During the year the charity raised £458k income, a significant increase on the prior year (£159k). Much of this additional income raised was in response to the COVID pandemic, and the disproportionate impact the crisis had on communities such as those served by schools in Lambeth. As in prior years, most of the income the charity receives is restricted to the health and wellbeing programmes we provide, which have seen greater demand in the current year in response to the COVID pandemic. Expenditure on our wellbeing programmes was £164k, an increase of 34% on the prior year expenditure of £123k, as we extended our geographical reach to meet the needs of more children. Alongside this we spent £113k on efforts to respond to the pandemic. We expect this expenditure to continue from restricted funds in the next year as the impact of COVID continues to be felt.` ## `Reserves Policy` `The trustees have set a reserves policy to hold at least one year’s expenditure on core activities in free reserves (being liquid unrestricted reserves), given that the majority of the charity’s income is restricted to programmes. This is reviewed annually. Currently, the reserves requirement is forecasted to be £70k. At the year end, unrestricted reserves were £79k, which the trustees are comfortable meets the reserves policy requirement.` ## `Going Concern` `The trustees are satisfied that the charity will continue as a going concern for the foreseeable future.` ## `Statement of Trustees’ Responsibilities` `The trustees 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).` `The law applicable to charities in England and Wales 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 of the charity for that period. In preparing these financial statements, the trustees are required to:` - `a) select suitable accounting policies and apply them consistently;` - `b) observe the methods and principles in the Charities SORP;` - `c) make judgments and accounting estimates that are reasonable and prudent;` `www.ovallearning.org` `6` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `d) state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;` `e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.` `The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.` ## `Thanks to our funding partners and volunteers` `We are grateful for the generosity of our donors and funding partners, and the impact and support of our volunteers. Most of our volunteers are young people,. teachers, school staff and parents who help to deliver programmes and share resources and ideas across the local schools network. Particular thanks to Martin Brown for specialist support with the accounts and financial processes and Heather Devine (independent examiner).` `This report was approved by the Board of Trustees and signed on its behalf.` `_________________________________, Trustee` `………………… Date` `www.ovallearning.org` `7` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE ## Independent examiners report to the trustees of Oval Learning Cluster ## `Responsibilities and basis of report` `I report to the charity trustees on my examination of the accounts of the above charity for the year ended 31 March 2021. As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.` ## `Independent examiner's statement` `The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.` `I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:` `· the accounting records were not kept in accordance with section 130 of the Charities Act; or` - `the accounts did not accord with the accounting records; or` `· the accounts did not comply with the applicable requirements concerning the form and content of 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 in order to enable a proper understanding of the accounts to be reached.` `Signed:` _`Heather Devine, 24 Lupus Street, London SW1V 3DZ`_ 1/20/2022 `Date:` `www.ovallearning.org` `8` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE ## `Oval Learning Cluster` `Statement of financial activities (incorporating an income and expenditure account) Year ending 31 March 2021` `www.ovallearning.org` `9` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `Oval Learning Cluster Balance Sheet` `As at 31 March 2021` `www.ovallearning.org` `10` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `Oval Learning Cluster Notes to the financial statements` `For the year ended 31 March 2021` ## **1 Accounting policies** ## **a) Basis of preparation** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011. ## **b) Public benefit entity** The charity meets the definition of a public benefit entity under FRS 102. ## **c) Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. There are no key judgements that the charity has made which have a significant effect on the accounts. The trustees do not consider there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## d) **Change in accounting policy** The accounts are now presented under the accrual accounting method, as during the year ended 31 March 2021 the charity exceeded the threshold for accounting on a Receipts and Payments basis. This change in accounting policy resulted in a restatement of the prior year figures, the details of this are shown in note 9. ## **e) Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that 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. ## **Donations of gifts, services and facilities** Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution. On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. ## **f) Interest & dividend receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividend is recognised as and when received or when the right to receive has arisen. ## **g) Fund accounting** - Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. - Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. - Designated funds are unrestricted funds earmarked by the trustees for particular purposes. `www.ovallearning.org` `11` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `Oval Learning Cluster` ## `Notes to the financial statements` `For the year ended 31 March 2021` ## **h) 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 headings: - Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. - Expenditure on charitable activities includes the costs of Grant making and related activities undertaken to further the purposes of the charity and their associated support costs - Support costs include the cost of overall direction and administration of the charity's activities ## **i) Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **j) Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2. Taxation** The charity is exempt from Income tax as all its income is charitable and is applied for charitable purposes. ## **3. Details of certain items of expenditure** |31 Mar 21 31 Mar 2020|31 Mar 21 31 Mar 2020|31 Mar 21 31 Mar 2020|31 Mar 21 31 Mar 2020|31 Mar 21 31 Mar 2020|31 Mar 21 31 Mar 2020| |---|---|---|---|---|---| |Independent examiners fees £- £-|Independent examiners fees £- £-|Independent examiners fees £- £-|Independent examiners fees £- £-|Independent examiners fees £- £-|| |Governance costs £- £-|Governance costs £- £-|Governance costs £- £-|Governance costs £- £-|Governance costs £- £-|| ||- -|- -|- -|- -|| Independent examiners fees £- £- Governance costs £- £- - The charity had no employees during the year (2020: nil) ## **4 Related party transactions** The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil). No payments or reimbursement of travel and subsistence costs were made to any trustees for trustee meetings during the year (2020: Nil) No trustee or other person related to the charity had any personal interest in any contractor transaction entered into by the charity during the year (2020: nil). The trustees delegate day to day running of the Charity to a manager, Lucy Swanson. |**5. Debtors**|31 Mar 21|31 Mar 2| |---|---|---| ||£|£| |Trade Debtors|-|-| |Other Debtors|24,709|-| |Prepayments|-|--| ||24,709|--| `www.ovallearning.org` `12` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `Oval Learning Cluster Notes to the financial statements For the year ended 31 March 2021` ## **6 Creditors: amounts falling due within one year** ||**31-Mar-21**||**31-Mar-20**| |---|---|---|---| ||£||£| |Other creditors|6,150||| |Deferred income|25,688||41,563-| ||**31,838**||41,563| |**Deferred income**|||| |Deferred income comprises grant income received in advance.|||| ||**31-Mar-21**||**31-Mar-20**| ||£||£| |Balance at the beginning of year|41,563||-| |Amount released to income in the year|(41,563)||-| |Amount deferred in the year|25,688||41,563| |Balance at the end of the year|25,688||41,563| ## **7 Deferred income** `www.ovallearning.org` `13` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE `Oval Learning Cluster` `Notes to the financial statements For the year ended 31 March 2021` ## **8 Movements in funds** |||||Incoming||Outgoing||||| |---|---|---|---|---|---|---|---|---|---|---| |||b/f at 1||resources||resources &||||c/f at 31 Mar| |||Apr 2020||& gains||losses||Transfers||2021| |||£||£||£||£||**£**| |**Restricted funds:**||||||||||| |||(16,875)||433,912||(305,330)||-||111,707| |**Total restricted funds**||(16,875)||433,912||(305,330)||-||111,707| |**Unrestricted funds:**||||||||||| |General funds||63,742||23,665||(8,797)||-||**78,610**| |**Total unrestricted funds**||63,742||23,665||(8,797)||-||78,610| |**Total funds**||**46,868**||**457,577**||**(314,128)**||**-**||**190,317**| |Movements in funds||||||||||| |||b/f 1||Incoming||Outgoing||||| |||April||resources||resources &||||c/f at 31 Mar| |||2019||& gains||losses||Transfers||2020| |||£||£||£||£||**£**| |**Restricted funds:**||||||||||| |||7,000||126,936||(150,810)||-||**(16,875)**| |**Total restricted funds**||7,000||126,936||(150,810)||-||(16,875)| |**Unrestricted funds:**||||||||||| |General funds||45,678||32,064||(14,000)||-||**63,742**| |**Total unrestricted funds**||45,678||32,064||(14,000)||-||63,742| |**Total funds**||52,678||159,000||(164,810)||-||46,868| ## **Purpose of restricted funds** The restricted funds are made up of funds received from donors that are restricted for certain charitable activities, being the response to the COVID pandemic in the Oval area, and wellbeing activities for children (these include music programmes, sport programmes, creative therapies and activities around mental health). `www.ovallearning.org` `14` DocuSign Envelope ID: 947FB48B-21CA-4934-B13B-3CFA39EEDDFE ## `Oval Learning Cluster Notes to the financial statements` `For the year ended 31 March 2021` ## **9 Restatement of prior year** For the year ending 31 March 2021 the charity has exceeded the threshold for accounting on a Receipts and Payments basis, and so has moved to accounting on an Accruals basis. The comparative results for the year to 31 Mar 2020 have accordingly been restated as prepared on the same accruals basis. The sole adjustment required was for £41k income which had been received as cash in 2109/20. Under the Accruals basis, the Charity became entitled to recognise this income in 2020/21. Accordingly income for 2019/20 has been reduced by £41k, and reserves carried forward at 31.3.20 are correspondingly reduced. ## **10 Funds direct to schools** £247,415 was allocated direct to local schools in order to achieve the charitable aims. These amounts were distributed as follows: |Ashmole Primary School|£4,000| |---|---| |Henry Fawcett Primary School|£6,650| |Herbert Morrison Primary School|£4,000| |Lansdowne School|£23,945| |Lilian Baylis Technology School|£20,300| |Reay Primary School|£15,602| |Saint Gabriel's College (includes supporting network of Brixton Collaborative schools) £40,025|| |St Andrew's Church of England Primary School|£20,000| |St John's Angell Town|£950| |St Marks CofE Primary School|£4,000| |St Stephen's Primary School|£9,500| |Sudbourne Primary School (includes supporting network of Windmill Cluster schools) £35,358|| |The Michael Tippett School|£8,385| |Turney School|£8,000| |Vauxhall Primary School|£10,500| |Walnut Tree Walk Primary School|£15,000| |Wyvil Primary School|£21,200| ## **11 Volunteers** The work of the charity benefits from support of volunteers who are young people, teachers, governors, school staff and parents. These volunteers help to deliver programmes and share resources and ideas across the local schools network. The central finance function is supported by specialist volunteers Martin Brown and Heather Devine. `www.ovallearning.org` `15`