Company Registration Number - 09518038
Charity Registration Number - 1163075
I Can and I Am Limited Report and Accounts 31 March 2023
I Can and I Am Limited
Report and accounts for the year ended 31 March 2023
Contents
| Page | |
|---|---|
| Trustees' Annual Report | 1 to 7 |
| Independent Accountant's Report | 8 to 9 |
| Statement of Financial Activities | 10 |
| Balance sheet | 11 |
| Notes to the accounts | 12 to 17 |
I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1st April 2022 to 31st March 2023. The trustees have adopted the provisions for the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
Reference and administrative details
The legal name of the charity is I Can and I Am Limited
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1163075
Governing document
The charity is controlled by its governing document, the memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The organisation was incorporated on 30th March 2015 and registered as a charity on 10th August 2015. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
The following persons served as Directors, and also as Trustees for the charity, during the year ended 31 March 2023, and on the date the report was approved:-
J Kendall CP Goddard Sarah Sayer
The principal operating address of the charity is:-
The Orchards
7a Warminster Road, Beckington Frome, BA11 6SP
The registered office of the charity for Companies Act purposes is the same as the operating address shown above.
Organisational Structure
I Can and I Am has a Management Committee of 3 trustees and 3 management members who meet quarterly and are responsible for the strategic direction and policy of the charity. Day to day responsibility for the provision of the services and the running of the charity rests with the Chief Executive, James Shone, who is supported by Rebecca Burton, Anthony Dutton and Alice Delap.
The Chief Executive is responsible for ensuring that the charity delivers the services specified.
1
I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
Objects and activities of the charity
Context
James Shone had been a teacher for sixteen years, nine of those he had spent looking after a boarding house in a private school. His passion as a teacher was always pastoral care. In July 2012, he applied to become the Headmaster of an independent Preparatory School and his application was successful. Having got the job he needed to satisfy the condition of passing the medical. It was at this medical that an extensive brain tumour was discovered. James underwent 27 hours of brain surgery during two operations, the second of which left him with only 10% of his vision.
As a result, James had to let go of his job and in the summer of 2013 found himself in the position of having no job, no house and no sight. It was in September 2013 that James started to visit schools sharing his story with the aim of inspiring others as to how to address setbacks. This then developed into a story of his journey which he combined with his passion to see young people walking tall with self-belief and confidence.
Objectives and aims
The purposes of the charity as set out in its governing document
Our charity’s purposes as set out in the objects contained in the company’s articles are:
“To advance the education of the public in the subject of inspiring their self-belief in who they are and what they can do, improving their confidence and encouraging their ambitions to achieve. This will be done by providing advice in particular through motivational talks and workshops on board the I Can & I Am double decker bus. The focus will be on groups of young people, staff involved in pastoral care, parents, but will include other persons as the charity trustees think fit."
The aims of our charity are to inspire young people and to build their self-confidence so that as they grow up and journey through their school years they are encouraged to achieve their ambitions and maintain good mental health. Our aims fully reflect the purposes that they charity was set up to further.
Ensuring our work delivers our aims
We review our aims, objectives and activities each year. The review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each of the key activities and the benefits they have brought to those groups of people we are set up to help.
The review also helps us ensure our aim, objectives and activities remain focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when review our aim and objectives and in planning our future activities.
The focus of our work
Our main objective for the year has been to encourage and inspire as many school aged children, staff members and parents as possible with the intention of having a lasting positive affect on young people’s self-confidence. The strategies we used to meet these objectives included:
•Visiting as many schools as possible to deliver presentations by James Shone to pupils, parents and staff.
•Services provided on board the I Can & I Am bus. These include sessions involve cooking and wellbeing workshops for pupils, staff and businesses. They are delivered by the I Can & I Am team and are supported by a team of volunteers. The bus visits schools throughout school term times as well as other charities and businesses when time allows throughout the rest of the year.
•Provision of free online educational resources for use by staff within schools
•Ongoing communication with ‘I Can & I Am’ subscribers with blogs and newsletters
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I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
The main activities undertaken in relation to those purposes during the year.
The I Can & I Am Bus:
A summary of work carried out by the I Can & I Am bus during the 12 months covered by this report can be shown in the table below. Included in the table are the results of a survey - after attending a session on board the bus, each pupil is asked to complete a short 3 question survey to provide an indication of the success of that visit. The survey is shown to the right.
The table below shows that the number of pupils who visited the bus for the 12 month period of this report was 10,365
----- Start of picture text -----
% Talking /
No of days Percentage No pupils Average % Higher self
Term Learning
out State schools on board score / 5 belief
useful
Easter ‘22 30 72% 1,306 4.74 78% 63%
Summer ‘22 41 78% 1,749 4.75 80% 68%
Xmas ’22 45 91% 2,026 4.81 83% 62%
Easter ‘23 43 95% 1,768 4.72 75% 71%
Summer ’23
25 72% 1,240 4.72 83% 77%
(till May)
Total /
10,365 4.74 79% 66%
Average
----- End of picture text -----**
- pupils who spent time on the bus were asked to score their experience (Question 1). The scale used was as follows: 1 = bad, 5 = excellent
** % higher belief refers to Question 3 in the survey and to those pupils who selected the answer ‘Better’ out of the 3 options provided.
*** % talking / learning useful refers to Question 2 in the survey and to comments from pupils that refer to either talking and/or learning as being the most useful thing that they did on the bus, over and above cooking.
Presentation work carried out by James Shone:
The number of chargeable school visits made to private schools by James Shone was approximately 80 with a further 20 visits to state schools which weren’t charged. Presentations were to pupils (aged 7-18), staff and to parents. The number of pupils, parents and staff reached via the presentations of James Shone (over and above the visits by the bus) were not dissimilar to previous years, with an estimate at approximately 6,500 pupils, 700 staff and over 1,000 parents. There were also a small number of presentations made to businesses.
Through both of these activities (presentations and the bus) the total number of people that received the I Can & I Am message during the 12 months of this report was over 18,500 people.
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I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
I Can & I Am staff:
Currently the charity has four employees, its founder James Shone, Rebecca Burton who joined the pay roll in December 2019 and works in the capacity of marketing and fund raising, Anthony Dutton who manages the bus operations and joined the payroll in March 2021 and Alice Delap who runs the workshop programmes on the bus who joined the payroll in April 2022 .
There are several additional paid volunteers who also help out on the bus when required. They are not on the payroll but are paid by the hour.
The main activities undertaken during the year to further the charity's purpose for the public benefit.
The charity trustees have complied with their duty to have due regard to the guidance on public benefit published by the commission in
The main achievements and performance of the charity during the year.
Throughout the last year, I Can and I Am has been supported by a number of very generous one off and regular donors. This funding has provided the necessary back drop to fund the services delivered by James Shone and on board the bus including all the administrative support required. Income from the support of donors has been complemented by income directly from schools to whom James Shone has provided services. Noteable donors include Howdens Limited who have been supporting monthly with a donation of £8,333 and Boodles Limited who donated £100,000 in Feb 2023 and have pledged to do the same in 2024. A fund raising event was carried out in May 2022 involving a row across the Bristol channel by the four members of the I Can & I Am team. Funds raised were matched by Howdens, bringing the amount raised to £77,000. In 2023, a collaborative fund raiser was carried out in May with a biathlon – a mountain bike ride and canoe safari in the Wye Valley. Over 20 individuals took part and raised a total of £38,000.
The charity generated a positive financial outcome for the period. Donations of just over £234,000 were received. Specific fund raising events generated a further £80,000. Contributions from activities and services provided yielded a further £42,000. At year end the charities reserves have been boosted by just over £79,000 after deducting costs of operations. .
The difference the charity's performance during the year has made to the beneficiaries of the charity and wider society.
Many of the teachers, staff and parents who receive presentations and workshops from James take the time to feedback in an incredibly positive manner.
“James Shone’s talk should have been compulsory for all pupils! It made me realise we make everything a big deal when it doesn’t need to be. The room was silent – the best lecture ever!”
Pupil, St Mary’s Calne
“I really can’t do justice to James’s incredible story nor the muscle of his messages so I’d implore anyone interested to listen to him. You will almost certainly leave inspired and also perhaps irrevocably changed.”
Head Teacher, King’s Chester School
"A very powerful and relevant message for our time. This great charity can make a huge difference in the lives of everyone who engages in this work"
Sir Anthony Seldon, Patron of I Can & I Am
"The bus gave us the luxury of time for pupils to bake bread and also to think about their wellbeing in a really engaging space, so different from their normal day. This package, together with James's talk, was perfect. I've had a line of parents, particularly from the most vulnerable and challenging pupils, saying thank you!"
Chris Chorley, Headmaster, St Vigor & St John C Of E School
"The ‘I Can and I Am’ team leave an indelible mark on a school community. They are inspirational. Pizzas hook the children in, but what follows is profound, life-enhancing and not often found in a school curriculum. This is real learning. This is real education.” Titus Mills, Headmaster, Port Regis School
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I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
Structure, governance and management of the charity
The methods used to recruit and appoint new charity trustees.
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
With the exception of James Shone, Rebecca Burton, Alice Delap and Anthony Dutton who are salaried, the members of the Management Committee give their time voluntarily and receive no benefits or expenses from the charity.
A range of traditional business skills are well represented by the Management Committee with a variety of complementary experience in the areas of fund raising and running a charity. Any additional administrative support required is paid for by the company.
Financial review
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Net income | 79,640 | 82,287 |
| Unrestricted Funds available for the general purposes of the charity | 336,525 | 256,885 |
The trustees consider the financial performance by the charity during the year to have been satisfactory. Specific changes in fixed assets are detailed in the notes to the accounts.
Reserves Policy
The Management Committee has examined the charity’s requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 6 months of the expenditure. Budgeted expenditure for 2023/2024 is £320,000 and therefore the target is £160,000 (half) in general funds. The reserves are needed to meet the working capital requirements of the charity and the Management Committee are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The present level of reserves available to the charity of £336,525 is therefore comfortably above the desired target level.
Principal funding sources
The launch of I Can and I Am was enabled through a number of generous individual donors. Donors have continued to be generous and we have acquired Howdens and Boodles as additional and generous annual donors. However a good income is also acquired through specific fund raising ventures and income directly from schools.
Investment policy and objectives
Aside from retaining a prudent amount in reserves on going, most of the charity’s funds are to be spent in the short term so there are few funds for long term investment. The Management Committee meets at the start of each financial year to reconsider the extent to which some of the funds available should be placed on deposit or other low risk investment strategies pursued.
Availability and adequacy of assets of each of the funds
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
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I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
Factors likely to affect future financial performance .
The charity has several priorities it would like to pursue:
•Completing the second pilot year with the I Can & I Am bus which began in Sept 2022 to refine the offering, assess those that will benefit most, understand the many logistics involved, understand budgets and pricing, continue to measure impact and extending the offering outside of schools. The remit for the bus includes:
oThe bus generally has 4 facilitators on board. We offer baking (often pizzas) alongside workshops upstairs throughout the course of a day on a given site.
oThe delivery of the workshops is based around our four core pillars of Belonging, Growth Mindset, Multiple Intelligence and a sense of Real Hope.
oWe visit both state and independent primary and secondary schools as well as other charitable organisations and universities working with both young people and staff.
oImpact Measurement is in place so that we are able to gauge what works and what doesn’t during the year. oWe’re fully committed to ensuring that any new activity is performed to the same high levels of quality that James has established, in terms of both content and delivery.
oThose schools who are able to pay are invoiced approximately £400 per day for a bus visit. Those that aren’t are asked if there might be a fund raising opportunity where they can raise the payment required. This is frequently taken up.
•Extend the range of resources available to schools to help further embed the messages of I Can & I Am. These will be available online to any schools regardless of whether or not they’ve had a visit from either James Shone or the bus. Those schools who have had a visit can continue to embed the messages of the charity into their schools using these resources. They will consist of lesson plans, worksheets, posters, books and postcards.
•An illustrator has been bought in to the team to create bespoke illustrations to help clarify the messages.
•A social media consultant has been employed to assist in managing the various social media platforms and create engagement with a higher audience. Early signs are that this is leading to an increase in enquiries about the work of James Shone.
•The number of bus days worked has increased from 4 to 4.5 during term time weeks in 2023. An increase in the number of the days that the bus is operating within school holidays is a goal.
•The purchase of a second bus has now taken place and this will be delivered to Howdens for refurbishment during the summer of 2023. The bus will begin visiting schools by January 2024.
•The second bus will extend the geographical range of school visits that can be undertaken. This is due to the bus being a newer model and in better condition. Visits could potentially involve trips away for a week or more to schools within the London area. This could be a combination of private and state schools with the private schools being charged for a visit.
•A second bus would enable an increase in the number of local charities that can be supported.
•Working with the main donors, Howdens and Boodles, to ensure they are kept informed on all areas of the work carried out on the bus.
•Carry out further training sessions for the I Can & I Am team and the volunteers to equip them with all the tools vital to the work on board the bus.
•Following the success of the 2023 fundraiser, we intend to hold another fundraiser in May 2024 which will be open to individuals outside of I Can & I Am who can participate and fund raise on our behalf.
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I Can and I Am Limited
Company Registration Number - 09518038
Trustees' Annual Report for the year ended 31 March 2023
Details of The Independent Examiner
Emma D'Aubyn, Member of the Institute of Chartered Accountants in England and Wales
GO Get Organised Finance
- 18 Charles Street
Bath, BA1 HX
Statement of the Directors Trustees's Responsibilities
The trustees (who are also the directors of I Can and I Am Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the 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 year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the Charity SORP;
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Make judgments and estimates that are reasonable and prudent
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
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charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the Independent Examiner in relation to the Trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no material inconsistencies with the figures disclosed in the financial statements.
Method of preparation of accounts - Small company provisions
The financial statements have been prepared implementing the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in February 2016), (The SORP), and in accordance with the Financial Reporting Standard 102, (effective 1st January 2016)
These financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
This report was approved by the board of trustees on 23rd August 2023.
C P GODDARD Director and Trustee
7
I Can and I Am Limited
Report of the Independent Examiner to the Trustees of the charitable company on the accounts for the year ended 31 March 2023
I report to the Trustees on my examination of the financial statements of the charitable company for the year ended 31 March 2023.
Respective responsibilities of the Trustees and the Independent Examiner and the basis of the report
As described in the Trustees report, you, the charitable company's Trustees, who are also the Directors of the Company for the purposes of Company law, are responsible for the preparation of the financial statements in accordance with the Companies Act 2006, the Charities Act 2011 and all other applicable law and with United Kingdom Generally Accepted Accounting Practice, applicable to smaller entities, and for being satisfied that the financial statements give a true and fair view.
The Trustees consider that the audit requirement of Section 144(2) of the Charities Act 2011 (the Act) does not apply, and that there is no requirement in the memorandum and articles of the charity for the conducting of an audit, and that the accounts do not require an audit in accordance with the Companies Act 2006 and that no member or members have requested an audit. As a consequence, the Trustees have elected that the financial statements be subject to independent examination.
Having satisfied myself that the financial statements are not required to be audited under any legal provision, or a) examine the financial statements of the charity under Section 145 of the Act;
b) follow the applicable procedures in the Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent Examiner's Statement and scope of work undertaken
I report in respect of my examination of the charity's financial statements carried out under s145 of the Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission.
An independent examination includes a review of the accounting records kept by the charitable company and of the accounting systems employed by the charitable company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you, as Trustees, concerning such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit, and information supplied by the Trustees in the course of the examination is not subjected to audit tests or enquiries and does not cover all the matters that an auditor would consider in arriving at an opinion. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide.
Consequently, I do not express an audit opinion on the view given by the financial statements, and in particular, I express no opinion as to whether the financial statements give a true and fair view of the affairs of the charity, and my report is limited to the matters set out in the statement below.
I planned and performed my examination so as to satisfy myself that the objectives of the independent examination are achieved and before finalising the report I obtained written assurances from the Trustees of all material matters.
8
I Can and I Am Limited
Independent Examiner's Statement, Report and Opinion
Subject to the limitations upon the scope of my work as detailed above, I have completed my examination: and can confirm that:-
The accounts of this charitable company are not required to be audited under Part 16 of the Companies Act 2006;
This is a report in respect of an examination carried out under 145 of the Act and in accordance with Directions given by the Charity Commission under section 145(5)(b) of the Act which may be applicable;
and that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-
accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2006;
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in section 396 of the Companies Act 2006 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;
have not been prepared in accordance with the methods and principles set out in Statement of Recommended Practice for Accounting and Reporting by Charities.
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.
Emma D'Aubyn - Independent Examiner
Chartered Accountants Mutu Accountancy Ltd 7 Chelsea Road Bath BA1 3DU
This report was signed on 23/08/2023
9
I Can and I Am Limited - Statement of Financial Activities for the year ended 31 March 2023
Statement of Financial Activities (including the Income and Expenditure Account for the year ended 31 March 2023, as required by the Companies Act 2006)
| Current year Unrestricted Funds 2023 £ Income & Endowments from: Donations & Legacies A1 234,024 Charitable activities A2 130,419 Investments A4 4 Total income A 364,447 Expenditure on: Charitable activities B2 284,807 Total expenditure B 284,807 Net income/(expenditure) for the year 79,640 Net income after transfers A-B-C 79,640 79,640 Reconciliation of funds:- E Total funds brought forward 256,885 Total funds carried forward 336,525 Net movement in funds SO RP Ref |
Prior Year Unrestricted Funds 2022 £ 226,476 59,419 2 285,897 203,610 203,610 82,287 82,287 82,287 174,598 256,885 |
|---|---|
A separate Statement of Total Recognised Gains and Losses is not required as this statement includes all recognised gains and losses.
All the prior year transactions were unrestricted items, and no further analysis is required All activities derive from continuing operations
10
I Can and I Am Limited - Balance Sheet as at 31 March 2023
| Notes | 2023 | 2022 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Fixed assets | A | ||||||
| Tangible assets | 8 | A2 | 11,326 | 14,891 | |||
| Current assets | B | ||||||
| Debtors | 9 | B2 | 26,403 | 21,778 | |||
| Cash at bank and in hand | B4 | 308,668 | 235,208 | ||||
| Total current assets | 335,071 | 256,986 | |||||
| Creditors: amounts falling due within | |||||||
| one year | 10 | C1 | (9,872) | (14,992) | |||
| Net current assets | 325,199 | 241,994 | |||||
| The total net assets of the charity | 336,525 | 256,885 | |||||
| The total net assets of the charity are | funded by the | funds of the charity, as follows:- | |||||
| Unrestricted Funds | |||||||
| Unrestricted Revenue Funds Unrestricted Revaluation Reserve |
14 | D3 D4 |
336,525 | ##### | #REF! | 256,885 | |
| Total charity funds | 336,525 | 256,885 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The charity is subject to Independent Examination under charity legislation, and the report of the Independent Examiner is on page 8.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
C P GODDARD
Trustee
Approved by the board of trustees on 23/08/2023
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I Can and I Am Limited
Notes to the Accounts for the year ended 31 March 2023
1 Accounting policies
Policies relating to the production of the accounts.
Basis of preparation and accounting convention
The accounts have been prepared in accordance with the Financial Reporting Standard 102, (effective 1st January 2016), the Statement of Recommended Practice for Accounting and Reporting by Charities, and the Companies Act 2006.
The charity 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 notes.
In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. No restatement was found to be required.
Going Concern
The charitable activities are dependent on continuing voluntary donations as well as trading revenues. As a consequence, the going concern basis is dependent on the future flow of these uncertain funding streams. Accordingly, the Trustees have obtained forecasts and, after reviewing the financial forecasts for future periods , the Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. Other than these matters, the Trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern.
Policies relating to categories of income and income recognition.
Nature of income
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Categories of Income
Income is categorised as income from voluntary donations and income from trading activities. Trading activities relate to speeches and attendances by the charity at schools and other similar organisations.
Income recognition
Income, whether from exchange or non exchange transactions, is recognised in the statement of financial activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.
Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.
All income is accounted for gross, before deducting any related fees or costs.
Policies relating to expenditure on goods and services provided to the charity.
Recognition of liabilities and expenditure
Ensuring our work delivers our aims
We review our aims, objectives and activities each year. The review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each of the key activities and the benefits they have brought to those groups of people we are set up to help.
Volunteers
In accordance with the SORP, and in recognition of the difficulties in placing a monetary value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity.
12
I Can and I Am Limited
Notes to the Accounts for the year ended 31 March 2023
Policies relating to assets, liabilities and provisions and other matters.
Tangible fixed assets
Tangible fixed assets are measured at their original cost value, or subsequent revaluation. Cost value includes all costs expended in bringing the asset into its intended working condition.
| Depreciation has been provided at the following rates in order to write off the | assets to their anticipated residual value over |
|---|---|
| their estimated useful lives. | |
| Plant and machinery etc. | 33% straight line |
| Motor vehicles | 25% reducing balance |
| A regular annual review of the likelihood of asset impairment is undertaken. |
Debtors
Debtors are measured at their recoverable amounts at the balance sheet date.
Cash and bank balances
Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
2 Liability to taxation
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose.
Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
3 Winding up or dissolution of the charity
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
The charity is a company limited by guarantee and has no share capital.
4 Significance of financial instruments to the charity's position
There are no significant implications of financial instruments to the charity's position.
5 Net income/(expenditure)
| Net income/(expenditure) | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| The net surplus before tax in the financial year is stated after charging:- | ||
| Depreciation of owned fixed assets | 4,978 | 5,748 |
| Independent Examiner's fee | 330 | 330 |
| Accountancy fees paid to Independent Examiner for other services | 420 | 420 |
13
I Can and I Am Limited
Notes to the Accounts for the year ended 31 March 2023
6 Staff costs and emoluments
| Salary costs Wages and salaries Social security costs Pensions costs Total salaries, wages and related costs Numbers of full time employees or full time equivalents The average number of total staff employed in the year was One employee received emoluments in excess of £60,000. |
2023 £ 166,156 13,839 3,646 183,641 2023 4 |
2022 £ 116,512 8,417 2,812 127,741 2022 2 |
|---|---|---|
7 Remuneration and payments to Trustees and persons connected with them
No trustees received remuneration in the year.
8 Tangible fixed assets
| Cost At 1 April 2022 Additions At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 9 Debtors Trade debtors Other debtors 10 Creditors: amounts falling due within one year Accruals Taxation and Social Security Other creditors |
Total £ 25,614 1,413 27,027 10,723 4,978 15,701 11,326 14,891 |
Computer Equipment £ 4,896 1,413 6,309 4,896 1,255 6,151 158 - 2023 £ 3,242 23,161 26,403 2023 £ 894 3,529 5,449 9,872 |
Motor Vehicles £ 20,718 - 20,718 5,827 3,723 9,550 11,168 14,891 2022 £ 2,100 19,678 21,778 2022 £ 894 3,873 10,225 14,992 |
|---|---|---|---|
14
I Can and I Am Limited
Notes to the Accounts for the year ended 31 March 2023
| 11 Income and Expenditure account summary At 1 April 2022 Surplus/(loss) after tax for the year At 31 March 2023 |
2023 £ 256,885 79,640 336,525 |
2022 £ 174,598 82,287 256,885 |
|---|---|---|
12 Related party transactions
There were no transactions with related parties in the year, except with regard to trustees' remuneration and trustees' expenses which are fully disclosed in the notes above.
13 Particulars of how particular funds are represented by assets and liabilities
| At 31 March 2023 Tangible Fixed Assets Current Assets Current Liabilities At 1 April 2022 Tangible Fixed Assets Current Assets Current Liabilities |
Unrestricted funds £ 942 335,071 (9,872) 326,141 Unrestricted funds £ 784 256,986 (14,992) 242,778 |
Designated funds £ - - - Designated funds £ - - - |
Restricted funds £ 10,384 - - 10,384 Restricted funds £ 14,107 - - 14,107 |
Total Funds £ 11,326 335,071 (9,872) 336,525 Total Funds £ 14,891 256,986 (14,992) 256,885 |
|---|---|---|---|---|
14 Change in total funds over the year as shown in Note 13 , analysed by individual funds
| Unrestricted and designated funds:- General fund Analysis of movements in funds over the year as shown in Note 14 Income 2023 £ Unrestricted and designated funds:- General fund 364,447 Designated Revenue Funds - 364,447 |
Funds brought forward £ 256,885 Expenditure 2023 £ (284,807) - (284,807) |
Movement in funds £ 79,640 Other Gains & Losses 2023 £ - - |
Funds carried forward £ 336,525 Movement in funds 2023 £ 79,640 - 79,640 |
|---|---|---|---|
15 Analysis of movements in funds over the year as shown in Note 14
15
I Can and I Am Limited
Notes to the Accounts for the year ended 31 March 2023
16 Ultimate controlling party
The charity is under the control of its legal members.
Every member of the charity is obliged to contribute such amount as may be required not exceeding £10 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
16