COGWHEEL COUNSELLING
Registered charity no.: 1157141 Incorporated on 21 May 2014
TRUSTEES' REPORT
and
ACCOUNTS
FOR THE YEAR ENDED
December 31, 2021
CONTENTS
| CONTENTS | |
|---|---|
| Page | |
| Legal and administrative details | 2 |
| Trustees' report | 3 to 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to accounts | 7 to 11 |
| Independent examiner's report | 12 |
COGWHEEL COUNSELLING LEGAL AND ADMINISTRATIVE DETAILS
CHARITABLE STATUS
Charity no.: 1157141 - registered on 21 May 2014 Cogwheel Counselling changed its name from The Cogwheel Trust CIO. This was approved by the Charity Commission in October 2020.
MISSION STATEMENT
Cogwheel Counselling is a charity, motivated by Christian ethos, working throughout Cambridgeshire to improve the emotional and psychological wellbeing of local people. Cogwheel carries out its mission by:
Providing a range of counselling and psychotherapy services, including a substantial proportion of subsidised places for those on low income
Improving access to counselling and psychotherapy services (our own and the services of other providers in the region)
Promoting emotional and psychological wellbeing
TRUSTEES
Elisabeth Silver - Chair Emily Argent - appointed July 2021 Jeremy Barnett David Farrer -Treasurer Christopher Palmer Nigel Walter David Wilson
HEAD OF COUNSELLING
Esther McNeill
REGISTERED OFFICE
47-51 Norfolk Street, Cambridge CB1 2LD
BANKERS
CAF Bank Ltd Lloyds Bank plc, Cambridge
INDEPENDENT EXAMINER
Geoff Mann, Geoff Mann Ltd Cambridge
2
COGWHEEL COUNSELLING TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their Report for the year ended 31 December 2021, which incorporates the list of Legal and Administrative Details on Page 2.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Cogwheel Counselling changed its name from The Cogwheel Trust CIO - this was approved by the Charity Commission in October 2020. The charity was registered with the Charity Commission on 21 May 2014. The previous charity The Cogwheel Trust (registered number 299228) ceased operations on 30 November 2014 and transferred the charity business including staff, assets and liabilities to The Cogwheel Trust CIO. Under the Charity terms and conditions, the power to appoint Trustees is vested in the Trustees for the time being.
The Charity has a Board of Trustees who meet quarterly and are responsible for its strategic direction and policy.
The Trustees are currently reviewing the procedures in place for Trustee induction and training by reference to guidance published by the Charity Commission.
OBJECTS, ORGANISATIONS AND ACTIVITIES
The Mission Statement of the Charity is stated on Page 2.
During 2021 the Charity provided in person counselling services at 47-51 Norfolk Street, Cambridge and also counselling services were conducted online using Zoom software due to the ongoing Covid pandemic.
FINANCES
During 2021 the following organisations generously supported the Bursary and Core Funds: Alfred Haines Charitable Trust Evelyn Trust Barnabas Oley's Charity Frank Litchfield Charitable Trust Cambridge Community Foundation John Huntingdon's Charity Cole Charitable Trust Leys School East Anglia Timber Trade Association Marsh Christian Trust Elica Ltd National Lottery Ely City Council Northwick Trust Ely Diocese Board of Finance Pye Foundation
The following Cambridge Colleges also generously supported the Bursary and Core Funds: Jesus College Trinity College Magdalene College
We are very grateful to the various organisations and individuals who supported Cogwheel when the Covid pandemic caused lockdown during part of 2021.
The attached financial statements (pages 5 – 10) reflect the Trust’s activities for the period and show the state of the finances at 31 December 2021. We thank the individuals, churches, businesses, colleges and trusts who donated funds during 2021 which enabled 3,921 counselling appointments to be provided in the year.
3
COGWHEEL COUNSELLING TRUSTEES' REPORT continued FOR THE YEAR ENDED 31 DECEMBER 2021
FINANCES continued
As reflected in the Reserves Policy statement in the following section, the minimum level of reserves needed to be in compliance with the standard prescribed by the British Association for Counselling and Psychotherapy is circa £47,400. At 31 December 2021 Cogwheel had an unrestricted surplus of £53,567. During 2022 we will continue to work towards maintaining our reserves to be compliant with the required standard.
RESERVES POLICY
The Trustees have conducted a risk assessment and considered the level of unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") that should be maintained by the charity to meet its liabilities and to sustain the organisation in the event of any unforeseen shortfalls in income. The Trustees have assessed the reliability of the charity's main sources of income and taken into account trends and pressures on grant aid. Past performance has made clear how precarious the charity's finances are without any free reserves to fall back on. The Code of Ethics and Practice of the British Association for Counselling and Psychotherapy, by which the charity abides, requires clients to be given three months' notice of termination of service and, accordingly, all staff contracts have a threemonth notice period. Taking all of the above factors into account, the Trustees consider that free reserves as at 31 December 2021 should be £47,400 and this figure will be re-calculated annually. At 31 December 2021 the charity had a surplus of £53,567.
RISK REVIEW
The Trustees have conducted their own review of the major risks to which the charity is exposed and have agreed a risk management strategy which comprises :
(i) an annual review of the risks which the charity may face;
(ii) the establishment of systems and procedures to mitigate those risks identified in the plan; and (iii) the implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise.
On behalf of the Trustees Elisabeth Silver
5 May 2022
4
COGWHEEL COUNSELLING STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted | Restricted | TOTAL | TOTAL | ||
|---|---|---|---|---|---|
| Note | Funds | Funds | 2021 | 2020 | |
| INCOMING RESOURCES | £ | £ | £ | £ | |
| Donations | 8 | 35,195 | 72,443 | 107,638 | 105,866 |
| Client Contributions | 9 | 94,505 | 0 | 94,505 | 90,710 |
| Contract and Other Income | 0 | 0 | 0 | 0 | |
| Total Incoming Resources | 129,700 | 72,443 | 202,143 | 196,576 | |
| RESOURCES EXPENDED | |||||
| Costs of Generating Funds | |||||
| Fundraising and Publicity | 11 | 7,573 | 0 | 7,573 | 10,769 |
| Charitable Expenditure | 0 | ||||
| Operating Costs | 10 | 189,626 | 0 | 189,626 | 164,895 |
| Governance Costs | 12 | 3,085 | 0 | 3,085 | 2,440 |
| Total Resources Expended | 200,284 | 0 | 200,284 | 178,104 | |
| NET INCOMING/(OUTGOING) RESOURCES | (70,584) | 72,443 | 1,859 | 18,472 | |
| Transfer Between Funds | 6 | 55,793 | (55,793) | 0 | 0 |
| NET MOVEMENT IN FUNDS | (14,791) | 16,650 | 1,859 | 18,472 | |
| FUND BALANCES | |||||
| Brought forward 1 January 2021 | 68,358 | 26,780 | 95,138 | 76,666 | |
| Carried forward 31 December 2021 | 6 | 53,567 | 43,430 | 96,997 | 95,138 |
5
COGWHEEL COUNSELLING BALANCE SHEET AS AT 31 DECEMBER 2021
| Note £ £ FIXED ASSETS 2 3,925 CURRENT ASSETS 2021 |
Note £ £ FIXED ASSETS 2 3,925 CURRENT ASSETS 2021 |
Note £ £ FIXED ASSETS 2 3,925 CURRENT ASSETS 2021 |
2020 £ 4,393 |
|---|---|---|---|
| 3,925 | |||
| Sundry Debtors 3 5,739 Prepayments 2,200 Bank Balances 112,170 Cash in Hand 411 |
1,108 2,200 100,647 411 |
||
| 120,520 CURRENT LIABILITIES Creditors 4 27,448 27,448 |
|||
| 120,520 | 104,366 | ||
| 13,621 | |||
| 27,448 | 13,621 | ||
| 90,745 | |||
| CURRENT ASSETS LESS CURRENT LIABILITIES TOTAL NET ASSETS FINANCED BY: ACCUMULATED SURPLUS Unrestricted Funds 5 Restricted Funds 6 Approved by the Trustees on 5th May 2022 Jeremy Barnett ) ) Trustees David Farrer ) |
|||
| 93,072 | |||
| 96,997 | 95,138 | ||
| 68,358 26,780 |
|||
| 53,567 | |||
| 43,430 | |||
| 96,997 | 95,138 | ||
6
COGWHEEL COUNSELLING NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 ACCOUNTING POLICIES
a) BASIS OF PREPARATION OF ACCOUNTS
The accounts have been prepared under the historical cost convention and include the results of the charity's operations, which are described in the Report of the Trustees and all of which are continuing. They have been prepared in accordance with 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 the Republic of Ireland (FRS 102) revised with effect from 1 January 2019.
Cogwheel Counselling meets the definition of a public benefit entity under FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The trustees do not consider that 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.
b) INCOMING RESOURCES
Incoming resources are recognised in the year in which the charity is entitled to the receipt, and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
c) RESOURCES EXPENDED
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
d) PENSIONS
The charity contributes to money purchase, defined contribution schemes, on behalf of its employees. No liability exists in respect of pensions other than monthly contributions due which is included within creditors.
e) FIXED ASSETS
Depreciation is provided at the following annual rates, calculated to write off fixed assets over their estimated useful lives:
Office furniture and fittings Office and training equipment
10% straight line 20% straight line
7
COGWHEEL COUNSELLING NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
1 ACCOUNTING POLICIES (continued)
f) DEBTORS
Trade debtors and other debtors are recognised at their settlement amount due after any discounts. Prepayments are valued at the amount prepaid net of any trade discount due.
g)
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.
2 FIXED ASSETS
| 2 | FIXED ASSETS | |||
|---|---|---|---|---|
| Office Furniture | Office and Training | |||
| and Fittings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost: | ||||
| As at 31.12.20 | 8,483 | 18,224 | 26,707 | |
| Addition in year | 0 | 0 | ||
| As at 31.12.21 | 8,483 | 18,224 | 26,707 | |
| Depreciation: | ||||
| As at 31.12.20 | 4,090 | 18,224 | 22,314 | |
| Provided for year | 468 | 0 | 468 | |
| As at 31.12.21 | 4,558 | 18,224 | 22,782 | |
| Net Book Value: | ||||
| As at 31.12.21 | £3,925 | £0 | £3,925 | |
| As at 31.12.20 | £4,393 | £0 | £4,393 | |
| 2021 | 2020 | |||
| 3 | DEBTORS | £ | £ | |
| Income Tax Claim (Gift Aid) | 5,739 | 1,108 | ||
| 5,739 | 1,108 | |||
| 4 | CREDITORS | £ | £ | |
| Salaries, Expenses and Accruals | 27,448 | 13,621 | ||
| 27,448 | 13,621 | |||
| 5 | ACCUMULATED SURPLUS | |||
| The balance carried forward in the | Income and Expenditure | Account unrestricted | funds | |
| comprises: | ||||
| £ | £ | |||
| Balance brought forward | 68,358 | 61,133 | ||
| Surplus for 12 months | (14,791) | 7,225 | ||
| Balance carried forward | 53,567 | 68,358 |
COGWHEEL COUNSELLING NOTES TO THE ACCOUNTS continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 6 | FUNDS | Unrestricted | Unrestricted | Unrestricted |
|---|---|---|---|---|
| General Funds |
Designated Bursary |
Total | ||
| £ 68,358 129,700 (200,284) 55,793 |
£ 0 0 0 0 0 |
£ 68,358 129,700 (200,284) 55,793 0 |
||
| Balance b/f Incoming Resources Resources Expended Allocations Designations Balance c/f |
||||
| 53,567 | 0 | 53,567 |
| Restricted | Restricted | Restricted | Restricted | Restricted | Restricted | |
|---|---|---|---|---|---|---|
| Restricted Bursary |
Sawston | Other | Soham | Restricted Total |
Funds Total |
|
| £ 4,500 53,898 (32,013) |
£ 8,000 1,500 (9,500) |
£ 14,280 17,045 (14,280) |
£ 0 0 |
£ 26,780 72,443 (55,793) 0 |
£ 95,138 202,143 (200,284) |
|
| Balance b/f Incoming Resources Resources Expended Allocations Funds usage Balance c/f |
||||||
| 26,385 | 0 | 17,045 | 0 | 43,430 | 96,997 | |
Allocations are made from the Bursary Fund, at the discretion of the management, to enable counselling services to be offered to clients in financial difficulty.
Income given specifically for bursaries is added to the Restricted Bursary Fund and allocated first. Income is designated from General Funds to the Designated Bursary Fund to cover the cost of subsidised counselling services allocated over and above the amount of restricted bursary funds available.
| 7 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Funds 8 DONATIONS RECEIVED Unrestricted funds £ Individual Gifts 26,453 Income Tax Repayments 4,631 Local Churches 860 Grant Making Trusts Colleges Businesses 90 Fundraising 3,161 35,195 |
7 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Funds 8 DONATIONS RECEIVED Unrestricted funds £ Individual Gifts 26,453 Income Tax Repayments 4,631 Local Churches 860 Grant Making Trusts Colleges Businesses 90 Fundraising 3,161 35,195 |
Fixed Current Current Total Assets Assets Liabilities £ £ £ £ 3,925 77,090 (27,448) 53,567 0 43,430 0 43,430 |
Fixed Current Current Total Assets Assets Liabilities £ £ £ £ 3,925 77,090 (27,448) 53,567 0 43,430 0 43,430 |
|---|---|---|---|
| 3,925 120,520 (27,448) 96,997 |
|||
| Restricted 2021 |
2020 | ||
| funds | funds | ||
| £ | £ £ |
£ | |
| 26,453 | 2,042 28,495 |
8,796 | |
| 4,631 | 4,631 | 1,151 | |
| 860 | 5,600 6,460 |
1,620 | |
| 52,401 52,401 |
77,422 | ||
| 2,900 2,900 |
1,587 | ||
| 90 | 9,500 9,590 |
13,975 | |
| 3,161 | 3,161 | 1,315 | |
| 35,195 | 72,443 107,638 |
105,866 | |
9
COGWHEEL COUNSELLING NOTES TO THE ACCOUNTS continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 9 CLIENT CONTRIBUTIONS Cambridge Sawston Ely Online counselling 10 OPERATING COSTS Counselling Services Staff Costs (note 13) Training and Recruitment Supervision Welfare and Office Expenses Subscriptions Travel Website design Insurance Provision of Counselling Centre Rent and Rates Repairs and Renewals Depreciation Insurance Telephones Total 11 FUNDRAISING AND PUBLICITY EXPENDITURE Fundraising Costs Publicity, Printing and Literature 12 GOVERNANCE COSTS OF THE CHARITY Stationery and Postage Independent examination fee Other Administration and Professional Fees |
2021 | 2020 |
|---|---|---|
| £ 94,505 94,505 |
£ 21,362 1,690 1,970 65,688 |
|
| 90,710 | ||
| £ | £ | |
| 126,965 459 20,291 5,360 494 0 320 3,133 |
101,945 228 21,762 3,381 479 140 120 2,512 |
|
| 157,022 | 130,567 | |
| 28,647 1,016 468 421 2,052 32,604 189,626 |
26,715 4,464 375 514 2,260 |
|
| 34,328 | ||
| 164,895 | ||
| £ 5,590 1,983 7,573 £ 975 510 1,600 3,085 |
£ | |
| 10,286 483 |
||
| 10,769 | ||
| £ | ||
| 1,210 460 770 |
||
| 2,440 | ||
10
COGWHEEL COUNSELLING NOTES TO THE ACCOUNTS continued FOR THE YEAR ENDED 31 DECEMBER 2021
| STAFF COSTS The staff costs were: Wages and salaries Social security costs Other pension costs |
£ 123,322 1,162 2,481 |
£ 100,257 1,688 |
|
|---|---|---|---|
| 126,965 | 101,945 | ||
13 STAFF COSTS
The average weekly number of staff employed by the charity during the period was:
| Head of Counselling Part time administration Part time counsellors |
1 1 7 8 16 15 24 24 |
|---|---|
14 PAYMENTS TO TRUSTEES
No payments were made to any of the trustees nor were any expenses reimbursed to them.
15 RELATED PARTY TRANSACTIONS
There were no related party transactions in the year that required disclosure.
11
COGWHEEL COUNSELLING INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COGWHEEL COUNSELLING
I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2021 set out on pages 1 to 10.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Acts 2011 ("the Act").
I report in respect of my examination of your charity's accounts carried out under section 145 of the Act, and in carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do 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 brought in this report in order to enable a proper understanding of the accounts to be reached.
Geoff Mann FCIE Geoff Mann Ltd Dee House Highworth Avenue Cambridge
5th May 2022
12