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2021-03-31-accounts

Charity Registration No. 1159027

BEAT THE COLD CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

BEAT THE COLD CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs J Boulton
Mr P Massey
Miss L Bentley
Ms M Fyson
Mrs J Wildgoose
Ms N A Jones (Appointed 29 October
2020)
Charity number 1159027
Principal address B13 The Bridge Centre
Birches Head Road
Stoke-on-Trent
Stafforshire
ST2 8DD
Independent examiner K.V.Staley FCA BSc (Hons)
68 Liverpool Road
Stoke on Trent
Staffordshire
ST4 1BG
Bankers Barclays Bank plc
36 Town Road
Hanley
Stoke-on-Trent
ST1 2JQ
CCLA Investment Management Limited
COIF Charity Funds
80 Cheapside
London
EC2V 6DZ

CONTENTS

BEAT THE COLD CIO

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 16

FOR THE YEAR ENDED 31 MARCH 2021

BEAT THE COLD CIO

TRUSTEES' REPORT

The trustees present their report and financial statements for the year ended 31 March 2021.

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 Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are to promote any charitable purpose for the benefit of the community in Stoke-onTrent, Staffordshire and surrounding areas by the advancement of education, the furtherance of health and the relief of poverty, distress and sickness, in particular by the provision of an information, advice, support and referral service related to fuel poverty and cold-related health complaints, and to the efficient use of energy (including renewable sources of energy).

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

Achievements and performance

Cannock Chase District Council - Home Visits. Telephone Advice

Energy Savings Trust – Helping households with health issues throughout Staffordshire and Stoke on Trent Energy Savings Trust Fuel Vouchers - helping households through the Covid pandemic with financial assistance towards their fuel costs

Eon – Home visits, energy advice throughout Staffordshire accessing the Warm Homes Fund scheme/ECO and supporting the Staffordshire Warmer Homes scheme

Keele University -providing placements for Keele University Medical School on their Community Placements programme for year 2 and year 5 medical students

Lichfield District Council – Warmer Homes Greener Districts Energy Advice Service

South Staffordshire Community Energy - funding a member of staff to have a presence on various wards of the University Hospitals of North Midlands to access referrals

Stafford Borough Council - Affordable Warmth Service

Staffordshire County Council – to support vulnerable householders with replacement heating/insulation/first time central heating

Staffordshire Moorlands District Council - Affordable Warmth Service

Stoke-on-Trent Fuel Vouchers - helping households through the Covid pandemic with financial assistance towards their fuel costs

Western Power Distribution - funding to work throughout Staffordshire.

This year saw an increase of 427% in activity.

Great credit is due to all staff in facing and overcoming the many pressures caused by the Covid pandemic, maintaining a high level of service to our clients and driving the charity to a successful year.

Financial review

The trustees are grateful to all the above funders that worked with us during the year.

BEAT THE COLD CIO

The trustees goal is to accumulate sufficient reserves so that in the event of external funding not being available at any time the charity will have at least 3 months, and preferably 6 months running expenses, to enable the charity to provide the main advice, information and referral services. The reserves will, in the case of closure, aim to cover all costs including redundancy payments.

With the Covid restrictions staff have continued to work successfully from home. Due to the increasing workload additional staff were employed on temporary contracts.

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a Charitable Incorporated Organisation that was formed on 30th October 2014 with the Charity Commission. On 1st April 2015 it took over the assets and liabilities of Beat the Cold (Charity Registration number 1076957).

In consultation with the Charity Commission, the Constitution and Objects of the CIO were amended in October 2020

The trustees who served during the year were:

Mrs J Boulton Mr P Massey Miss L Bentley Ms M Fyson Mrs J Wildgoose Ms N A Jones (Appointed 29 October 2020)

Ms Natalie Jones was appointed as a trustee in October 2020 at a properly convened meeting of the charity trustees.

The members of the CIO shall be its charity trustees for the time being. The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else. Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO.

Apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Trustees actively review the major risks which the charity faces on a regular basis. They have examined the operational and business risks faced by the charity and acted to mitigate these risks. During the year, they identified the risks associated with the short term nature of much of their funding.. They continued to consider the impact of competition between agencies on the charity. The trustees view partnership working as very important. Careful monitoring of cash-flow, a cautious approach to setting a budget and regular reviews of staffing mitigated the risks.

The trustees' report was approved by the Board of Trustees.

BEAT THE COLD CIO

.............................. Miss L Bentley Trustee

Dated: ......28[th] October 2021...................

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BEAT THE COLD CIO

I report to the trustees on my examination of the financial statements of Beat The Cold CIO (the charity) for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England & Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

K.V.Staley FCA BSc (Hons)

68 Liverpool Road Stoke on Trent Staffordshire ST4 1BG

BEAT THE COLD CIO Daied..

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BEAT THE COLD CIO BALANCE SHEET

AS AT 31 MARCH 2021

Current assets
Notes
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
11
Net current assets
Income funds
Restricted funds
Unrestricted funds
12
Designated funds
13
General unrestricted funds		 2021
£
14,227
276,722
290,949
(28,581)
88,389
64,784		 £
262,368
109,195
153,173
262,368		 2020
£
£
21,506
132,998
154,504
(3,604)
150,900
80,893
23,759
46,248
70,007
150,900

BEAT THE COLD CIO

The financial statements were approved by the Trustees on .....28[th] October 2021....................

.............................. Miss L Bentley

Trustee

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Charity information

Beat The Cold CIO is a Charitable Incorporated Organisation that was formed on 30th October 2014 with the Charity Commission.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (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.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Despite the coronavirus pandemic and as further explained in the Trustees' Report,. at the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

BEAT THE COLD CIO

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

BEAT THE COLD CIO

1 Accounting policies (Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 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 discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

BEAT THE COLD CIO

1 Accounting policies (Continued)

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no critical accounting estimates and judgements that are relevant to the charity's financial statements.

3 Donations and legacies

Unrestricted Unrestricted Unrestricted Unrestricted
funds funds general
general
2021 2020
£ £
Donations and gifts 3,828 672
4 Charitable activities
2021 2020
£ £
Incoming resources from charitable activities 378,993 265,904
Analysis by fund
Unrestricted funds - general 177,931 158,327
Restricted funds 201,062 107,577

BEAT THE COLD CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Investments
Unrestricted Unrestricted
funds funds general
general
2021 2020
£ £
Interest receivable 6 106
6 Charitable activities
2021 2020
£ £
Staff costs 145,166 116,833
Consultancy fees and evaluation 704 2,294
Accommodation costs 10,333 9,963
Insurance 1,629 1,613
Repairs and upgrade costs 19,078 7,728
Postage, stationery, advertising and leaflets 3,602 3,166
Telephone and internet 3,151 2,972
Travelling expenses 799 10,598
Legal and professional fees 1,386 1,770
Thermometer strips and cards 1,122 570
Computer costs 4,052 -
Fuel vouchers 78,357 -
Sundry expenses - 43
269,379 157,550
Share of governance costs (see note 7) 1,980 1,950
Analysis by fund
Unrestricted funds - general 98,599 124,962
Restricted funds 172,760 34,538

BEAT THE COLD CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

7 Support costs

Accountancy
Analysed between
Charitable activities		 Support Governance costs
costs
£
£
-
1,980
-
1,980		 2021
£
1,980
1,980		 Support Governance costs
costs
£
£
-
1,950
-
1,950		 2020
£
1,950
1,950

None of the trustees , who are all regarded as the key management personnel (or any persons connected with them), received any remuneration during the year, None (2020 - none) of them were reimbursed travelling expenses (2020 - none).

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Advice and information
Administration and advice
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
5
1
2021
£
132,692
6,540
~~5,934~~
145,166		 2020
Number
5
1
2020
£
106,111
5,251
~~5,471~~
116,833

There were no employees whose annual remuneration was £60,000 or more.

2021 2020

BEAT THE COLD CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
11
Creditors: amounts falling due within one year
Notes
Deferred income
Trade creditors
Accruals and deferred income		 £
14,227
-
2021
£
21,520
4,092
2,969
28581		 £
16,010
5,496
2020
£
-
315
3,289

BEAT THE COLD CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at Transfers Balance at Transfers Balance at
1 April 2019 1 April 2020 31 March 2021
£ £ £ £ £
Contingency 22,325 1,434 23,759 64,630 88,389
Contingency:

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

BEAT THE COLD CIO

To provide the charity with funds in the event of unexpected developments or closure.

BEAT THE COLD CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

15 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).