Options for International Health
Annual Report and Accounts
31 December 2020
Company Limited by Guarantee Registration Number 9137405 (England and Wales)
Charity Registration Number 1160066
Contents
| Reports | |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ report | 2 |
| Independent auditor’s report | 9 |
| Accounts | |
| Statement of financial activities | 14 |
| Balance sheet | 15 |
| Statement of Cashflows | 16 |
| Principal accounting policies | 17 |
| Notes to the accounts | 19 |
Legal and administrative information 31 December 2020
| Trustees | Jo Elms (Chair) |
|---|---|
| Alison Dembo Rath | |
| Richard Burge | |
| Claire Morris | |
| Sally Hughes | |
| Dr Faith Mwangi-Powell – appointed 2nd | |
| Oct 2020 | |
| Registered office | 2ndFloor, St Magnus House |
| 3 Lower Thames Street | |
| London | |
| EC3R 6HD | |
| Company registration number | 9137405 (England and Wales) |
| Charity registration number | 1160066 |
| Accountants | Sayer Vincent |
| Invicta House | |
| 108-114 Golden Lane | |
| London | |
| EC1Y OTL | |
| Bankers | Barclays Bank plc |
| Level 28 | |
| 1 Churchill Place | |
| London | |
| E14 5HP | |
| Solicitors | A J Lutley |
| Springfield | |
| Rookery Hill | |
| Ashtead Park | |
| Ashtead | |
| Surrey | |
| KT21 1HY |
Options for International Health 1
Trustees’ report 31 December 2020
The trustees, who are directors for the purposes of company law, present their statutory report together with the financial statements of Options for International Health (“OIH”) for the year to 31 December 2020.
The accounts have been prepared in accordance with the accounting policies set out on page 17 therein and comply with the charitable company’s memorandum and articles of association, applicable law and the 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 United Kingdom and Republic of Ireland (FRS 102).
The report has been prepared in accordance with Part 8 of the Charities Act 2011 and also constitutes a directors’ report as required by section 418 of the Companies Act 2006.
OIH is a wholly owned subsidiary of MSI Reproductive Choices (Registered Company Number 01102208 (England and Wales). OIH’s operational management is carried out by Options Consultancy Services Limited (Registered Company Number 2695347 (England and Wales)), which is also a subsidiary of MSI Reproductive Choices. Options Consultancy Services Limited was set up in 1992 to;
(1) To carry on the business of acting as consultants and providing advice and information in relation to family planning, population growth, birth control and contraception, good health, both mental and physical, of parents, young people and children, illness, whether physical or mental or distress caused by unwanted conception, involuntary sterility or difficulties connected with the marriage relationship or sexual problems and the advice, facilities and treatment available for such persons and other health and medical issues.
(2) To conduct research into any of the above.
(3) To co-operate with and enter into arrangements with any authorities agencies or bodies, international, national, local or otherwise and to obtain from any such authorities, agencies or bodies any rights, privileges and concessions.
(4) To carry on any other activity and do anything of any nature which may seem to the company capable of being conveniently carried on or done by the company in connection with the above, or may seem to the company calculated directly or indirectly to benefit the company.
Some of the programmes that Options managed address social issues for which there was interest in support from charitable sources. This led to the establishment of OIH as a charity for receiving donations and grants that can be channelled to enable the implementation of these programmes.
Options for International Health 2
Trustees’ report 31 December 2020
Objectives and Activities
The Charity’s Objectives, as set out in its Articles of Association are:
a) the prevention and relief of sickness and the preservation and promotion of mental and physical health for the public benefit worldwide, with a focus on those who are disadvantaged or in need particularly as a result of ill health or poverty, by such means as the Trustee Directors think fit including but not exclusively through:
-
strengthening healthcare services, increasing access and improving the quality of healthcare provision;
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improving maternal and newborn survival by research and analysis to enable the promotion of enhanced accountability and services;
-
increasing public awareness, support and attention toward ending the practice known as Female Genitalia Mutilation/Cutting;
b) the advancement of such other Charitable Purposes for the public benefit as are consistent with the Objectives stated above as the Trustee Directors in their absolute discretion determine.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s objectives and aims and in planning future activities. The activities undertaken and planned during the reporting period are considered to directly contribute towards furthering the charity’s objectives for the public benefit.
Activities during the reporting period
a. Evidence for Action, funded by the Bill and Melinda Gates Foundation (BMGF)
The Evidence for Action (E4A) project works in Africa bringing together government, civil society and health practitioners in coalitions that use existing information and resources to:
-
Identify the reasons why women and babies are dying of preventable causes
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Agree on how available resources can be used most effectively to address these reasons
-
• Advocate for the changes needed
Throughout the year, E4A continued to implement the $6M reinvestment from the BMGF (July 2019 - April 2022) which aims to further the gains the programme has made in Kenya and Nigeria. E4A’s strategies aimed at being sustainable by ensuring that the project’s approaches are institutionalized. The project empowered coalitions by strengthening the connection between civil society, health professionals and public officials to work as advocacy coalitions. There was sharing of best practices, tools and learning through the production of global public goods.
Options for International Health 3
Trustees’ report 31 December 2020
The programme also expanded technical assistance to civil society in Francophone Africa to increase access and strengthen accountability of the Global Financing Facility (GFF) processes in Senegal.
In response to COVID-19, the E4A teams undertook a rapid assessment of the impact on Maternal, Newborn Health services, decision-making and accountability. They developed a COVID-19 strategy paper and provided support, training and guidance documents to adapt and respond to their changing context while keeping themselves and partners safe.
Plans for 2021
-
OIH will reactivate connections with previous donors for projects aimed at ending FGM and aims to secure new donations from funders such as the Wallace Global Fund. Proposals will aim to support work that is being planned for supporting the Africa-Led Movement for ending FGM.
-
The E4A project will continue to implement the current strategies of the current BMGF Reinvestment which will support:
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advocacy through coalitions to influence political decision making and achieve results at scale to promote maternal and newborn health
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coalitions to successfully enhance domestic investment in quality services for women and children
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partners worldwide to use E4A’s tools for enhancing the impact of the programme.
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Proposals will also be developed to seek BMGF funding for new strategies for supporting communities to respond to COVID-19.
Structure, governance and management
Constitution
OIH is a company limited by guarantee incorporated in England and Wales (registered number 9137405) and is governed by its Memorandum and Articles of Association dated 18 July 2014. It is also registered with the Charity Commission, charity registration number 1160066. In the event of the company being wound up the members would each be required, if necessary, to contribute to the assets of the company a sum not exceeding £1.
Organisation
Trustees can be appointed by ordinary resolution of the members. The trustees, who served throughout the financial period were as follows: Jo Elms (Chair) Alison Dembo Rath Richard Burge Claire Morris Sally Hughes Dr Faith Mwangi-Powell
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Trustees’ report 31 December 2020
Jo Elms and Alison Dembo Rath are employed by Options Consultancy Services Ltd, for whom Jo Elms is the Managing Director. All trustees were recruited through recommendations of people involved in the work that OIH was set up to address, and their appointment was through approval of the parent entity, MSI Reproductive Choices. Background checks on all trustees were carried out to ensure all met the due diligence requirements and all fulfil annual declarations covering conflicts of interest.
The trustees of the charity are given information on the roles and responsibilities of trustees of a UK charity and are regularly updated on Charity Commission best practice.
Governance and management during 2020
During 2020 OIH implemented one project administered through the Management and Administrative Services Agreement with Options Consultancy Services Ltd (Options) who carried out the specific activities as authorised through the Enabling Agreement . These were:
- E4A/MamaYe, funded by the Bill and Melinda Gates Foundation which started in July 2019, Expenditure : £1,347,838
OIH Trustee meeting was held in October 2020. Trustees confirmed their approval for the above grant and were kept informed of progress.
Key management personnel
The trustees consider that they comprise the key management personnel of the charity along with support from key personnel from Options Consultancy Services Limited. The charity had no employees during the accounting period.
Trustees’ responsibilities statement
The trustees (who are directors of Options for International Health for the purposes of company law) are responsible for preparing the trustees’ report and 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 period 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 charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
Options for International Health 5
Trustees’ report 31 December 2020
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observe the methods and principles in 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 United Kingdom and Republic of Ireland (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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 Companies Act 2006. 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.
Each of the trustees confirms that:
-
so far as the trustee is aware, there is no relevant audit information of which the charity’s auditors are unaware; and
-
the trustee has taken all the steps they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.
Risk management
The trustees have reviewed the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the Charity and its finances. The trustees review the measures in place and establish policies, systems and procedures should they be needed to minimise or manage any potential impact on the charity should those risks materialise.
The trustees have identified 2 main areas where risks may occur:
Programme delivery
OIH is conscious of the need to ensure that it can meet its deliverable targets in its contracts with third parties. In the event that it does not meet those targets, there is a risk of future funding being withheld or withdrawn. Therefore, in order to mitigate this risk, the charity has entered into an agreement with Options Consultancy Services Limited (“Options”) whereby Options will provide the charity with programmatic support thus ensuring donor compliance.
Options for International Health 6
Trustees’ report 31 December 2020
The charity has also adopted a Risk Management Policy in order to ensure that any risks facing the charity (programmatic and operational) are raised, discussed and managed.
Governance and management
The trustees are mindful of the risks that the Charity Commission have issued with regard to connections with non-charities.
In order to help ensure that OIH comply with the above, laws and regulations dealing with the operation of charities the Board consists of trustees with considerable experience and expertise of working in the charitable sector.
Each call down that OIH issues to Options through the enabling agreement is subject to a detailed budget which ensures that expenditure and activities are within the agreed parameters and within the charitable purposes. The OIH board review the charity’s financial report at the trustee meetings.
The funding relationship that exists between OIH and Options is fully disclosed to donors to ensure complete transparency.
The trustees of OIH are aware of their responsibility when it comes to serious incident reporting through to the Charity Commission. The reporting is delegated to the Chair of Trustees.
Coronavirus
As OIH relies on Options to deliver its programmes through the enabling agreement, it is important for OIH to consider the effects that Coronavirus will have on its operation. There is a summary below describing the actions that Options is undertaking to mitigate the risks.
The devastating impact of the COVID-19 pandemic has continued to impact on how Options carries out its business. The company has maintained strong liquidity through its treasury management processes and has mobilised alternative operational approaches to enable business-continuity even while all staff are working from their homes and other remote locations. Business continuity plans have ensured each contract fulfils its objectives, with active dialogue with all clients to agree on alternative arrangements where necessary. As COVID-19 has impacted on developing countries’ health systems and populations, Options has been able to provide support to health ministries through existing programmes and through newly commissioned work. This has contributed to the reputation of the business for being able to contribute towards the strategies for addressing the immediate and mediumterm effects of the pandemic.
Options for International Health 7
Trustees, roport 31 Dtscember 2020 Financial report lor the perlod Results for the perlod The charity's total income was £1,347,838 (2019 £1,895,416) during the year, all ol which was expended on charitable aclivilie8. Re£aYvos policy The trustees have continued lo review the need for reserve8 and, due lo the close relalionship between the ¢harlty and Options, have agreed there are no liabilities requirin9 OIH to hold any unreslricled reserves. This is deemed appropriate while OIH'S work continues to be subcontracted lo Oplions. This posllion is reviewed on an ongoing bas15. Fin4n¢ial Position. The Charity currently holds of £1,558.103 of ¢urrenl assets wilh creditors of £1,558,103 due within one year. Therefora, the Charity doesn't hold any net assets. This is in line wth prévious years. Approved by Ihe trustees and signed on their behalf by.. Trustee Approvad by Iha truslees on: Options tor International Health 8
Independent auditor’s report 31 December 2020
Independent auditor’s report to the members of Options for International Health
Opinion
We have audited the financial statements of Options for International Health (the ‘charitable company’) for the year ended 31 December 2020 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. 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:
-
Give a true and fair view of the state of the charitable company’s affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
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Have been prepared in accordance with the requirements of the Companies Act 2006
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.
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 Options for International Health'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.
Options for International Health 9
Independent auditor’s report 31 December 2020
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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
The information given in the trustees’ annual report, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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The trustees’ annual report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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The financial statements are not in agreement with the accounting records and returns; or
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Certain disclosures of trustees’ remuneration specified by law are not made; or
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We have not received all the information and explanations we require for our audit; or
Options for International Health 10
Independent auditor’s report 31 December 2020
- The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, 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
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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
Capability of the audit in detecting irregularities
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
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We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
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Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Options for International Health 11
Independent auditor’s report 31 December 2020
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Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
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The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.
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We inspected the minutes of meetings of those charged with governance.
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We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
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We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
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We reviewed any reports made to regulators.
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We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
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We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
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In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.
Options for International Health 12
Independent auditor’s report 31 December 2020
Use of our report
This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
Jonathan Orchard (Senior statutory auditor) 12 April 2021 for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL
Options for International Health 13
Statement of financial activities 31 December 2020
| Restricted and total funds |
Restricted and total funds |
|
|---|---|---|
| Income and expenditure Notes |
2020 £ |
2019 £ |
| Income from: Donations Total income Expenditure on: Charitable activities 1 Total expenditure Net income and movement in funds Fund balances brought forward at 1 January 2020 Fund balances carried forward at 31 December 2020 |
1,347,838 | 1,895,416 |
| 1,347,838 | 1,895,416 | |
| 1,347,838 | 1,895,416 | |
| 1,347,838 | 1,895,416 | |
| — | — | |
| - | — |
All of the charity’s activities derived from continuing operations during the above financial period.
The charity has no recognised gains and losses other than those shown above.
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Balanca Sheet as at 31 December 2020 2020 2020 2019 2019 Notes Current assets Prepaym8nts Cash at bank 1,553,237 4,86e 1.232,604 4.891 Creditors.. amounts falling due within (bnÈ y8ar 4 1.558,103 1.237,495 Total net assets The funds of the charlty Funds and r8serv8S Unr88trlcled funds The financial slatemanis have been prepared in accordan with the sp8aal provisions of Part 15 of the Companles Act 2006 relating to srnall companies. Approved by the Irusl88s of Options for Intemalional H88lth, Company Registration Number 9137405 (England and Wales) and signed on their behalf by.. Trustee 30 2aLI Approved on: Options for International Health 15
Statement of Cashflows 31 December 2020
| $ Cash Flows from Operating Activities: Net Income / (outgoing) resources # Change in Creditors Change in Debtors Net Cash from Operating Activities Net decrease in Cash & Cash Equivalents Cash at the beginning of the period Cash at the end of the period |
2020 £ -26 320,608 -320,634 -26 -26 4,891 4,866 |
2019 £ -75,536 |
|---|---|---|
| 59,643 -135,179 |
||
| -75,536 -75536 80,427 |
||
| 4,891 |
Options for International Health 16
Principal accounting policies 31 December 2020
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.
Basis of preparation
These accounts have been prepared for the year to 31 December 2020.
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.
The accounts 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 United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The accounts are presented in sterling and are rounded to the nearest pound.
Critical accounting estimates and areas of judgement
Preparation of the accounts can require the trustees to make significant judgements and estimates.
There are no items in the accounts where these judgements and estimates were significant.
Assessment of going concern
The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.
The trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The impact of Coronavirus has been taken into account when making this judgement. The trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the period ending 31 December 2021, the most significant area that affects the carrying value of the assets held by the charity are the level of future contract income.
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Principal accounting policies 31 December 2020
Income
Income is recognised in the period in which the charity is entitled to receipt, it is probable the income will be received, and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.
Expenditure and the basis of apportioning costs
Expenditure is included in the statement of financial activities when incurred and includes attributable VAT which cannot be recovered. Expenditure comprises grants for charitable work that the Charity has subcontracted to Options Consultancy Services LTD.
Cash at bank and in hand
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.
Creditors and provisions
Creditors and provisions 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. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.
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Notes to the financial statements 31 December 2020
1 Charitable activities
| Charitable activities | ||
|---|---|---|
| 2020 Total funds £ |
2019 Total funds £ |
|
| Grants | 1,347,838 | 1,895,416 |
| 1,347,838 | 1,895,416 |
Charitable activities were made through grants to Options Consultancy Services Limited under a Management and Administrative Service Agreement.
2 Governance costs
All governance costs and auditor’s remuneration were met by Options Consultancy Services Limited during the year ended 31 December 2020.
3 Taxation
Options for International Health is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
4 Creditors: amounts falling due within one year
| 2020 Total funds £ |
2019 Total funds £ |
|
|---|---|---|
| Creditors Accruals and deferred income |
4,866 1,553,237 |
4,891 1,232,604 |
| 1,558,103 | 1,237,495 | |
| Financial instruments | 2020 Total funds £ |
2019 Total funds £ |
| Financial assets . Bank and cash balances Financial liabilities measured at undiscounted rate receivable . Creditors |
4,866 4,866 |
4,891 4,891 |
5 Financial instruments
6 Ultimate controlling party
The company's ultimate parent undertaking is MSI Reproductive Choices. It is a company limited by guarantee and is registered in England and Wales. Their registration address is 1 Conway Street, Fitzroy Square, London, W1T 6LP.
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Notes to the financial statements 31 December 2020
7 Related party transactions
- All expenditure incurred by Options for International Health is subcontracted to Options Consultancy Services LTD. The prepayment in the balance sheet represents an amount held by Options Consultancy Services LTD which is yet to be spent at the balance sheet date.
8 Key management and trustees’ remuneration and expenses
- As explained in the trustees’ report, the trustees consider that they comprise the key management personnel of the charity. The charity had no employees during the period. None of the trustees received any remuneration in respect of their services or reimbursement of expenses during the period (2019 - none).
9 Charity information
The charity is constituted as a company limited by guarantee. In the event of the charity being wound up members are required to contribute an amount not exceeding £1.
The registered office of the charity is 2[nd] Floor, St Magnus House, 3 Lower Thames Street, London, EC3R 6HD.
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