**Registered number: 08087597 Charity number: 1157781**
## **TUTORFAIR FOUNDATION**
(A company limited by guarantee)
**UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022**
## **TUTORFAIR FOUNDATION**
## **(A company limited by guarantee)**
## **CONTENTS**
|**CONTENTS**||
|---|---|
||Page|
|Reference and administrative details of the charity, its trustees and advisers|1|
|Trustees' report|2 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 11|
**TUTORFAIR FOUNDATION (A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2022**
## **Trustees**
A Ground M Maclaine E Stockwell
## **Company registered number**
08087597
## **Charity registered number**
1157781
## **Registered office**
63 Queensmill Road, London, England, SW6 6JP
## **Chair of Trustees**
Andrew Ground
## **Accountant**
Venn Accounts Ltd, 86-90 Paul Street, London, England, EC2A 4NE
1
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MAY 2021**
The Trustees present their annual report together with the financial statements of the charity for the 1 June 2021 to 31 May 2022. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update Bulletin 1 (effective 1 January 2015)
Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and Activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit and in particular to its supplementary guidance on public benefit.
## **b. Strategies for achieving objectives**
The Foundation works in partnership with schools and other charities. We select opportunities for tutors to volunteer based on the public benefit and the attractiveness of the experience provided, and then fulfil them using the Tutorfair Ltd database of tutors and other sources of volunteers. We aim to offer training and feedback to tutors who volunteer wherever possible. All the tutoring provided by the Foundation is completely free to the beneficiaries.
## **c. Activities for achieving objectives**
We arrange tutoring free of charge to people who, for whatever reason, have not had access to education or who need to or wish to advance their education. Young people from low-income or otherwise vulnerable backgrounds are referred to us by schools, charities and other community-facing organisations. Tutoring is delivered in various contexts including in the school and at the students’ home. All tutoring in the period 1 June 2020 to 31 May 2021 was delivered online due to changing COVID-19 restrictions including school closures and social distancing measures.
## **d. Main activities undertaken to further the charity's purposes for the public benefit**
Through the period June 2021 – May 2022, the Foundation supported 296 students with 2,986 hours of tutoring through 15 organisational partnerships. To achieve this, 180 volunteer tutors were recruited, vetted, trained and placed on one or more of our projects. All tutoring was delivered online, with a mixture of delivery during and after school hours. The vast majority of tutoring was delivered on a 1:1 basis.
## **Achievements and performance**
## **a. Key financial performance indicators**
Income this year increased 1.6% to approximately £63.5k. This comes as income from trading activities increased by £10k in this year, whilst grants income has decreased by £9k. Income from Tutorfair.com client donations has decreased from £19k in the previous year to £18k in this year. Spending also increased 4% to approximately £68k. With grant funding from the last 3 financial years accounted for, we carry forward (£120) in our restricted funding balance at the start of financial year 2022/23.
## **b. Review of activities**
The plan for this year was to grow our online tutoring output by 20% whilst maintaining a very small use of our unrestricted reserves. We managed to increase our tutoring output by 11% whilst using only 1% of our unrestricted reserves. We were also able to increase the capacity of our team, bringing on a second part-time staff member to support the administration and communication within our programmes.
During this time, we have developed several new funding relationships and have secured a substantial increase in income at the start of financial year 2022/23. This has allowed us to be ambitious in the coming year about improving our programme, offering greater support to the young people we work with and expanding the work we do with other charities.
## **c. Fundraising activities/Income generation**
During this year, the Foundation secured grants income of approximately £29k, individual donations of approximately £20k and trading income of approximately £14k. We also collected Gift Aid for approximately £3k. All fundraising activities were undertaken as part of the Foundation Director’s day-to-day work, making up approximately 20% of their time over the course of a year. We did not work with any professional fundraisers during this year.
2
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Structure, governance and management**
## **a. Constitution**
The charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 29 May 2012.
The charity is constituted under a Memorandum of Association dated 29 May 2012 and is a registered charity number 1157781.
The principal objects of the charity are to advance the education of the public in all parts of the UK and in particular but not exclusively for those suffering financial hardship, by providing and assisting in the provision of personal tutors and educators to promote competencies, skills and understanding of subjects of educational value for the public benefit.
## **b. Method of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
## **c. Organisational structure and decision making**
A small central team organises the activities in line with a business plan and policies agreed with the Trustees.
## **Funds held as custodian**
None
This report was approved by the Trustees, on **13/12/2022** and signed on their behalf by:
…...........................................................
A Ground
3
**(A company limited by guarantee)**
## **TUTORFAIR FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2022**
## **Independent examiner's report to the Trustees of Tutorfair Foundation (the 'charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 May 2022.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act
## **Independent examiner's statement**
I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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: Dated: ����������
James Ripley (CIMA)
Venn Accounts Ltd 86-90 Paul Street London England EC2A 4NE
4
## **TUTORFAIR FOUNDATION**
## **(A company limited by guarantee)**
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2022
|Note
**Income from**
Donations and legacies
2
**Total Income**
**Expenditure on:**
Charitable Activities
Raising funds
**Total Expenditure**
7
Net movement in funds
**Reconciliation of funds**
Total Funds brought forward
Total Funds carried forward
**Net Income/(Expenditure) before other**
**recognised gains and losses)**|**Unrestricted**
**Funds**
**2022**
**£**
48,865
**48,865**
40,704
8,242
**48,946**
81
-
81
-
6,549
**6,468**|**Restricted**
**Funds**
**2022**
**£**
14,592
**14,592**
19,009
-
**19,009**
4,417
-
4,417
-
4,297
**120**
**-**|**Total**
**Funds**
**2022**
**£**
63,457
**63,457**
59,713
8,242
**67,955**
4,498
-
4,498
-
10,846
**6,348**|**Total**
**Funds**
**2021**
**£**
62,464|
|---|---|---|---|---|
|||||**62,464**|
|||||57,661
7,769|
|||||**65,430**|
|||||2,966
-
2,966
-
13,812|
|||||**10,846**|
The notes on page 7 to 11 form part of these financial statements.
5
## **TUTORFAIR FOUNDATION**
## **(A company limited by guarantee)**
Company Number: 08087597
BALANCE SHEET AS AT MAY 2022
|**Note**
**Current Assets**
Cash at bank and in hand
**10**
Debtors
**11**
**Creditors: amounts falling due withing one year**
**12**
Net Current Assets
**Net Assets**
**Represented by**
Unrestricted funds
Restricted funds
**Total funds**
**13**|**£**
**£**
5,644
1,695
7,339
991)
(
6,348
**6,348**
6,468
120)
(
**6,348**
**2022**|**£**
**£**
10,844
302
11,146
300)
(
10,846
**10,846**
6,549
4,297
**10,846**
**2021**|**£**
**£**
10,844
302
11,146
300)
(
10,846
**10,846**
6,549
4,297
**10,846**
**2021**|
|---|---|---|---|
||7,339
991)
(|11,146
300)
(||
|||||
|||||
||||**10,846**|
||||6,549
4,297|
||||**10,846**|
The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 13/12/2022 and signed on their behalf, by:
…..............................................
A Ground
6
**TUTORFAIR FOUNDATION (A Company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MAY 2022**
## **1. Accounting Policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Tutorfair Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Company status**
The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **1.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt, donated 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.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
7
## **1. Accounting Policies (continued)**
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
## **1.5 Interest 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.
## **1.6 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **1.8 Financial instruments**
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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.9 Pensions**
The charity contributes to personal pension plans for certain employees.
## **1.10 Fund accounting**
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 and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
8
## **2. Income from donations and legacies**
|**Unrestricted**
**funds**
**Restricted**
**funds**
2022
2022
Donations - General funds
20,162
14,592
Grants
28,703
-
Total donations and legacies
48,865
14,592
**3. Direct Costs**
Subcontractor cost
DBS checks
Wages and salaries
National Insurance
Pension Cost
**4. Support costs**
Office costs
Credit card charges
**5. Governance Costs**
Accounting Fees
Salaries and wages (incl NI & pension)
Salary and wage allocations is based on % time spent by staff on each activity
**6. Raising Funds**
Salaries and wages (incl NI & pension)
Salary and wage allocations is based on % time spent by staff on each activity|**Total funds**
2022
34,754
28,703
63,457
**Total**
**2022**
**£**
22,596
1,019
23,985
2,504
591
50,695
**Total**
**2022**
**£**
2,283
1,838
4,121
**Total**
**2022**
**£**
972
3,925
4,897
**Total**
**2022**
**£**
8,242
8,242|_Total funds_
2021
24,602
37,862|
|---|---|---|
|||62,464|
|||**Total**
**2021**
**£**
21,054
1,185
18,974
1,854
451|
|||43,518
**Total**
**2021**
**£**
6,709
2,138|
|||8,847|
|||**Total**
**2021**
**£**
900
4,729|
|||5,629|
|||**Total**
**2021**
**£**
7,769|
|||7,769|
||||
9
## **7. Analysis of Expenditure by expenditure type**
|**7. Analysis of Expenditure by expenditure type**|||
|---|---|---|
|**Staff Costs**
**Other costs**
2022
2022
£
£
Expenditure on raising income
-
**Costs of raising funds**
**-**
**-**
Direct costs - Charitable activities
27,080
27,736
Expenditure on Governance
**27,080**
**27,736**
**8. Staff costs**
Salaries and wages
Social security costs
Pension Costs (defined contribution scheme)
Total
Salary and wage allocations is based on % times spent by staff on each activity
Fundraising
21%
Governance
10%
Charitable Activities
69%
The average number of persons employed by the charity during the year was;
Operations|**Total**
2022
£
8,242
**8,242**
54,816
4,897
**67,955**
**Total**
**2022**
**£**
34,763
3,630
856
39,249
**2022**
2|_Total_
2021
£
7,769|
|||**7,769**
52,032
5,629|
|||**65,430**|
|||**Total**
**2021**
**£**
30,118
2,943
716|
|||33,777|
|||**2021**
2|
Operations
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000
## **9. Transactions with trustees and related parties**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity .
A Ground and E Stockwell are also directors of Tutorfair Limited which collects some contributions on behalf of the charity. During the year £20,089 (2020: £14,869) was collected by Tutorfair Limited and at the balance sheet date £302 (2020: £14) was owed by Tutorfair Limited. Tutorfair Limited also provides payroll, accounts and office services which are recharged at cost. A Ground, E Stockwell and M Maclaine are also shareholders of Tutorfair Limited.
## **10. Cash at bank and in hand**
|Cash at bank and on hand
Total
**11. Debtors and Prepayments**
Trade Debtors
Other Debtors
Total|**Total**
**2022**
**£**
5,644
5,644
**Total**
**2022**
**£**
1,695
-
1,695|**Total**
**2021**
**£**
10,844|
|---|---|---|
|||10,844|
|||**Total**
**2021**
**£**
**-**
302|
|||302|
10
## **12. Creditors and Accruals**
|**12. Creditors and Accruals**|||
|---|---|---|
|Other creditors
Total|**Total**
**2022**
**£**
991
991|**Total**
**2021**
**£**
300|
|||300|
## **13. Details of material funds held and movements during the current reporting period**
|Unrestricted Funds
General funds
Restricted Funds
All Funds|**Fund balances**
**brought forward**
6,549
4,297
**10,846**|**Income**
48,865
14,592
**63,457**|**Expenditure**
48,946
-
19,009
-
**67,955**
**-**|**Fund**
**balances**
**carried**
**forward**
6,468
120
-|
|---|---|---|---|---|
|||||**6,348**|
As at the balance sheet date there was a balance of £4,297 on the Restricted funds account, the amount need to be spent before September 2021.
## **14. Details of material funds held and movements during the previous reporting period**
|Unrestricted Funds
General funds
Restricted Funds
All Funds|**Fund balances**
**brought forward**
11,687
2,125
**13,812**|**Income**
38,411
24,053
**62,464**|**Expenditure**
43,549
-
21,881
-
**65,430**
**-**|**Fund**
**balances**
**carried**
**forward**
6,549
4,297|
|---|---|---|---|---|
|||||**10,846**|
## **15. Transfers between funds**
There were no transfers between funds in the year.
11