Registered Charity No: 1164429
CHARITY MENTORS OXFORDSHIRE
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH
2024
CONTENTS
| CONTENTS | |
|---|---|
| PAGE | |
| REFERENCE AND ADMINISTRATIVE DETAILS | 3 |
| REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 | |
| INTRODUCTION | 4 |
| Statement of compliance | |
| Objects and activities | |
| Public benefit | |
| PROGRESS AND PLANS | 5 |
| Progress and achievements | |
| Plans | |
| FINANCIAL REVIEW | 9 |
| Commentary on statement of financial activities and balance sheet | |
| Fundraising | |
| Reserves policy | |
| Going concern | |
| GOVERNANCE | 10 |
| Trustees | |
| Trustee appointment, induction and training | |
| The Charity’s mentors | |
| Risk management | |
| Trustees’ responsibilities | |
| Charity Governance Code |
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CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH
2024
REFERENCE AND ADMINISTRATIVE DETAILS
TRUSTEES
Annette Mountford (Chair)
Julie Pink Anne Lloyd Thomas Webster Tina Elder Tim Stevenson Ling Charlene Choi (appointed on 15/12/2023) Kevin Senior (resigned on 15/12/2023)
EXECUTIVE DIRECTOR
Kelly Jennings-Robinson (appointed on 01/04/2023)
BANKERS
BANKERS Lloyds Bank plc Commercial Banking P. O. Box 1000 BX1 1LT REGISTRATION AS A CHARITABLE INCORPORATED ORGANISATION 16 November 2015 (no. 1164429) WEBSITE www.charitymentors.co.uk REGISTERED ADDRESS 263 Woodstock Road Oxford OX2 7AE
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REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
INTRODUCTION
The Trustees of Charity Mentors Oxfordshire (“the Charity”) present their Report and Financial Statements for the year ended 31 March 2024.
STATEMENT OF COMPLIANCE
This report complies with the requirements of the Charity’s constitution (based on the ‘foundation’ model CIO constitution authorised by the Charity Commission), which is the Charity’s governing document, and of Accounting and Reporting by Charities: Statement of Recommended Practice (“SORP”) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (“FRS”) applicable in the UK and Republic of Ireland (FRS 102) , issued by the Charity Commission and the Office of the Scottish Charity Regulator in their role as the joint SORP-making body, recognised by the Financial Reporting Council.
OBJECTS AND ACTIVITIES
The objects of the Charity are set out in its constitution as being:
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to support the capacity and sustainability of the voluntary and non-profit sector in Oxfordshire; including charities and community and social enterprises, through the provision of high-quality mentoring and other services to their leaders, with the aim of enabling and encouraging clear strategic thinking, planning and action, for the benefit of the whole organisation; and
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to encourage and support the replication or adaptation of the Charity’s model in other counties of the UK.
The Charity addresses its objects by bringing together the expertise, skill, good will and resources of experienced leaders to support charities, voluntary organisations and community enterprises in Oxfordshire in defining and achieving their strategic goals. This support currently takes the form of pro bono short-term mentoring.
In addition, the Charity has developed and maintains a template for its service model which it offers to other mentoring organisations throughout the UK. These currently include Medway and Kent, South Yorkshire, Berkshire and East and West Sussex.
PUBLIC BENEFIT
In setting the Charity’s goals and in its planning activities the Trustees have given due consideration to the published Charity Commission guidance on the operation of the public benefit requirement of the Charities Act 2011.
The public benefits through the improved performance of the non-profit organisations who are the sole recipients of the Charity’s pro bono mentoring service. The Charity does not target any particular body and it responds to any applicant.
Most of these organisations are registered charities, but the Charity has also worked with social enterprises, CIOs, community groups, youth groups and individuals hoping to start a charitable organisation and who want to talk through strategic issues.
For these reasons the Trustees consider that the Charity meets the public benefit requirement.
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REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
PROGRESS AND PLANS
Progress and achievements
The Charity has its origins in a mentoring service (“the Service”) launched in 2013 and operated by a steering group under the auspices of the Oxfordshire Community Foundation (registered charity no. 1151621), with the service’s first projects beginning in the same year. The catalyst for the initiative was the co-founders’ experience of, and reflection on, two prevailing factors: firstly, the burden of responsibility carried by voluntary sector managers in often precarious conditions; secondly, the level of good will that exists towards voluntary sector services amongst senior leaders in the commercial and public sectors.
Once we had refined our model and established that there was demand for a good quality mentoring service, we became a Charitable Incorporated Organisation (CIO) in 2015, with our own board of Trustees. Our core service is short-term (usually 4 to 6 months, though variable ) mentoring for charity leaders on specific challenges that require strategic thinking. Charity leaders are defined as CEOs or equivalent within a charity or the Chair of Trustees.
Some of the challenges brought forward in the mentoring projects are issues around organisational resilience and sustainability, organisation and team structures, trustee relationships, leadership, feelings of isolation, loss of focus, developing long-term plans and business plans, alternative service and income models, stakeholder relationships, growth and next stages, change management, and sometimes, an external view on a particular issue or a sense check on strategic thinking.
Our operating model is underpinned by our vision, mission and our five strategic aims. These were revisited and modified in 2020 in the wake of the Covid-19 pandemic and subsequent cost of living crisis.
Vision: Charity Mentor's vision is for a resilient voluntary sector in Oxfordshire led by confident leaders with clear strategic purpose.
Mission: To provide leaders of Oxfordshire voluntary sector with effective mentoring and support to facilitate strategic thinking and skilful leadership.
Strategic Aims:
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Strive for continuous improvement in service quality and impact;
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Gain enough understanding of market potential to make us confident that we are aware of all voluntary sector organisations in Oxfordshire who might benefit from a mentor;
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Position Charity Mentors Oxfordshire so that all organisations in Oxfordshire who might benefit from a mentor understand our offering;
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Continue to closely collaborate with the leaders of Oxfordshire’s voluntary organisations; and
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Strengthen our fundraising approach, continuing to develop positive relationships with donors and funders. This pillar was added in 2022.
Following the departure of Executive Director, Laura Howdill, the Board of Trustees appointed Mrs. Kelly Jennings-Robinson in the role and she has been in post since 01/04/2023. Her core priorities were to develop a fundraising plan to secure sources of unrestricted income from institutional funders and private philanthropy, develop and expand the cohort of mentors, and grow connections with individuals and organisations across the county of Oxfordshire in order to reach more charity and community leaders through referral pathways.
Fundraising: Achieving Organisational Security
In November 2023, the charity secured a sizeable donation from a private philanthropist, which will help cover operational costs for Charity Mentors Oxfordshire, and allow us to further improve our service offerings to the community and the public sector. We are incredibly grateful for all the support and confidence we receive from our donors and have registered with the Fundraising Regulator since receiving this significant donation.
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REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
The annual strategy meeting was held in May 2024 and included a few mentors and focused on key areas for service improvements in line with our strategic aims. Areas for investment over a 12, 16 and 18 month period include: mentoring training and development, impact framework development and assessment as well as continued engagement with our external supporters. Additionally, we plan to invest in infrastructure, systems, and processes, including integrating our database and continued website improvements, to enhance our operational capacity and support future growth.
Mentoring: Strengthening Mentor Capacity and Skills
The quality of our mentoring services is at the heart of our success. Our mentors bring extensive experience, having held overall responsibility for organizational strategy and implementation across the private, public, and voluntary sectors. While many of our mentors have prior mentoring experience, the key strength they share is their ability to listen, foster openness and trust, and empower individuals to find their own solutions for their charitable organizations. As of the end of FY 2024, we had 16 mentors actively working with us. Our mentors participate in quarterly meetings to discuss our approach, share insights, and learn from feedback. We are committed to continuously improving our service in order to advance our vision.
We continue to work on increasing diversity and inclusivity of both our mentors and our trustees. We want Charity Mentors to reflect the diversity of the sector so we could continue to be relevant to the community we serve. We are continuing to seek new mentors and trustees who can help us make Charity Mentors a more inclusive organisation, while maintaining our high standards of mentoring and governance.
The Mentoring Review Group at the Board level plays a crucial role in reviewing current mentoring projects, identifying key learnings, and exploring opportunities for continuous improvement. This group is also focused on mentor succession planning and recruitment, ensuring that we maintain a strong and diverse pool of mentors, while providing valuable feedback to the trustees' board.
Building Stronger Networks and Referral Pathways in Oxfordshire
Collaboration with leaders and intermediary organisations in Oxfordshire's voluntary sector is critical to CMO's success. Key partner organizations include OCVA, Oxfordshire Community Foundation, and Community First Oxfordshire. Strengthening these relationships through regular meetings has allowed us to establish collaborative referral pathways, ensuring that charities are not duplicating efforts when seeking support and can access the best resources from the right organizations. In 2024, we re-established the First Stop initiative, a free, confidential consultation service with CMO and OCVA for charity leaders to discuss issues, challenges, and receive advice and support. It received local press attention and our Executive Director was featured in BBC Radio Oxford.
Additionally, we have re-established relationships through the Lord Lieutenant of Oxfordshire, connecting with Marjorie Glasgow BEM, and her Deputy Lieutenants, to help us identify charity leaders in their geographic remits across the county for referrals. We have also established a working relationship with the Oxfordshire Inclusive Economic Partnership, which brings together business, third sector, public sector, and university leaders to share learnings, foster connections, and reduce inequality across the region. These relationships have helped us meet more potential charitable organisations and leaders in the county.
Our Mentoring Work
Charity Mentors delivered 16 projects from 1st April 2023 to 31st March 2024, lower than 23 projects in the prior year primiarily due to the transition of Executive Directors. The pipline is active and we see the core motivation for engaging with a mentor remained largely unchanged from previous years, as charities sought expert guidance to strengthen their leadership and operations.
The charity sector in Oxfordshire has faced significant challenges in the wake of the COVID-19 pandemic and the ongoing cost-of-living crisis. Many organisations have experienced rising costs, increased service user numbers, and difficulties securing both restricted and unrestricted funding from statutory, institutional and private funders. Despite these challenges, we have focused on strengthening relationships and supporting those we work with, ensuring that every project delivered was of the highest quality and impact. Looking
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ahead, we expect the number of projects to grow in 2025 as we address these sector-wide challenges and increase our presence and outreach to charity leaders.
The feedback we get continues to emphasise how important our service is in supporting them in their roles. We ask all mentees to share the most significant changes that have taken place as a result of working with their mentor. A small selection of responses is listed below:
From Director of a Heritage and Culture Charity in Oxford:
As a result of the mentorship, there have been significant positive changes. I have gained new insights and strategies, which have led to improved decision-making and progress in my project. My confidence in managing challenges has also increased, resulting in better overall outcomes.
My mentor's background and experience were crucial to the success of the mentorship. Their expertise provided valuable insights and practical advice that were directly applicable to my project. The mentor's deep understanding of the issues and their ability to offer relevant solutions significantly enhanced the effectiveness of the sessions.
I would highly recommend Charity Mentors to other organisations. Their expertise and support provided by Charity Mentors have been incredibly beneficial, and I believe many other organizations could greatly benefit from their guidance. The mentorship has had a significant positive impact on my project, and I am confident it could do the same for others.
I would describe the benefit of working with Charity Mentors as transformative. Their expert guidance helps organizations tackle complex challenges, make informed decisions, and achieve their goals more efficiently.
The mentorship provides personalized support, practical advice, and valuable insights that can lead to significant improvements in project outcomes and organizational growth.
From CEO of Oxford mental health charity:
‘I had been struggling with the transition to CEO role, and a lack of support from anywhere else to help me work through this change and felt this was a great opportunity for me.
My mentor took time to flush out the root cause of the issues, but they are clear now. The main one about confidence in my role is much more under control and is on the way to being resolved. The other one which related to lack of support from my chair and trustees took time to realise but I am now clear and am taking steps to try and address this through more upfront feedback with the chair.
I am more confident in my role,and realise just because I find certain elements of it difficult, this is normal. Its given me confidence to tackle the elements I have actively avoided. It has also given me the confidence of addressing some of the issues with the chair.
PLANS
We remain committed to our strategic aims. We are committed to ensuring that any charity or community group leader in Oxfordshire who could benefit from a charity mentor is aware of who we are, what we offer, and how to reach us.
Impact Framework and Social Return on Investment: We aim to develop a comprehensive Impact Framework to assess Charity Mentors Oxfordshire's (CMO) impact on mentees, their charities, the sector, and the beneficiaries they serve. To ensure a more robust and evidence-based approach, we will commission an agency to collaborate with us in designing and measuring this framework. This will enable us to evaluate and refine our model, providing valuable insights to strengthen our work and demonstrate the social return on investment (SROI) of our services.
Increased Mentee Referrals: While many of our referrals currently come through word-of-mouth, we are taking proactive steps to expand our reach beyond our usual networks and engage with new and existing organisations that may not yet be aware of us. Although Oxford City remains a major source of our mentees,
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we are committed to reaching beyond the limits of the county seat. Our progress with organisations and individuals working in North, South, and West Oxfordshire is integral to this goal, ensuring that we extend our services to underserved areas and a wider variety of charity leaders
Website and Social Media: Our website was redeveloped in 2021-2022 under the previous Executive Director to ensure it is updated and relevant for both mentors and mentees. It reflects the vibrant community of charities in Oxfordshire and is designed to be easily accessible and user-friendly. The website serves as a helpful resource, providing clear information about our services and making it easier for charity leaders to connect with us for a referral. In addition to the website, we aim to develop and share valuable content, including thought leadership pieces, to further establish our expertise in the sector. By actively sharing insights and relevant discussions, we hope to increase visibility and strengthen our connections within the charity sector.
Continued Collaboration and Engagement with Other Intermediary Charities : We will continue our collaboration with OCVA through the First Stop initiative, offering free, confidential consultations for charity and community leaders. In addition, we are planning joint events and roadshows with other intermediary charities across Oxfordshire to reach a broader audience. These collaborative efforts will help us engage with more charities and extend our support to those who may benefit from mentoring services, further strengthening our presence and impact across the county.
Mentor Training and Development : We are committed to providing ongoing training and development for our mentors to ensure they are equipped with the skills and knowledge needed to support charity leaders effectively. As part of our dedication to diversity, equity, and inclusion (DEI), we are actively recruiting mentors who reflect these values and the diverse needs of the organizations we support.
Organisational Learning : We are committed to organisational learning for our Executive Director, trustees, and mentors to strengthen our governance, delivery, and inclusivity. By continuously enhancing our knowledge and skills, we aim to ensure that Charity Mentors Oxfordshire remains adaptable, effective, and responsive to the evolving needs of the charity leaders we support.
Continued Collaboration with Other Charity Mentors Groups : We will continue to work closely with other Charity Mentors groups across the UK, exchanging insights and best practices to strengthen support for charity leaders.
The Charity’s only costs are expected to remain its core costs: coordination (matching up a charity and a mentor and then, importantly, assessing the outcome); support and training of mentors; promotion of the service so that it is known and used; administration and governance. All mentoring will continue to be delivered pro bono . The trustees estimate that its value, based on 160 mentoring hours at £125 per hour, is £30,000 for 2024. (estimate of 15 mentoring hours per project). The charity is dedicated to providing this free service to charities in Oxfordshire, and all funds continue to be focussed on underpinning this work.
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REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Commentary on statement of financial activities and balance sheet
This report and financial statements are for the year ended 31 March 2024. At 31 March 2024 the Charity held a bank balance of £142,397 (31 March 2023 - £22,928), of which £5,000 (2023 - £nil) was classified as restricted income funds. The increase in bank balance was due to a substantial one-time donation from a key benefactor of £100,000 and £25,000 in Gift Aid.
Income from donations in the year ended 31 March 2024 totalled £138,500 (year to 31 March 2023 - £14,500).
Total communications and publicity (including website set-up and maintenance costs) amounted to £1,651 (year to 31 March 2023 - £5,394).
Charitable activities costs totalled £15,965 (year to 31 March 2023 - £21,063). The Charity’s principal expense is fees for the services of the Executive Director and supporting consultants. This amounted to £16,241 in the year to 31 March 2024 (year to 31 March 2023 - £25,251). The basis for allocating those fees to expense categories is described in note 4 to the financial statements.
Fundraising
The Charity’s income from donations is shown in note 3 to the financial statements, which also describes the restricted purposes where applicable. The Trustees are extremely grateful to the donors who have shown such confidence in the Charity’s work. Their generosity has put the Charity’s work on a firm footing and enabled it to position itself not only to mentor charities and the voluntary sector in Oxfordshire, but also to help similar organisations throughout the UK to establish a similarly effective model.
Reserves policy
The Trustees regularly review the Charity’s financial position, cash flow and spending against the background of its budget and plan which are reviewed annually, as is the Charity’s reserves policy.
The Trustees do not intend to accumulate and maintain a substantial unrestricted reserve. Our overhead costs are low – we do not have premises’ costs or full-time staff. Our reserves should reflect the costs of closing and some allowances for bridging cash flow between funding rounds. A reserve of £15,000 is adequate to cover these eventualities. This level of reserves is reviewed annually to ensure adequate cover of operating costs is maintained.
Going concern
Having reviewed the funding available to the Charity together with its requirements for the next two years, the Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they have adopted the going concern basis in preparing the financial statements.
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GOVERNANCE
Trustees
The Trustees determine the general policy of the Charity. The current trustees are shown on page 3.
Trustees serve for a term of three years from the date of appointment. A term of office may be renewed for a further 3 years; subsequently the trustee in question is required to resign but may apply for re-appointment after at least one year.
The Charity is administered by the Board of Trustees, which must have a minimum of five and a maximum of eight members, at least two of whom must themselves be mentors and two of whom must not be mentors. The Board meets approximately quarterly, its meetings normally being followed by a meeting of the Charity’s mentors for an exchange of information and to provide training and feedback.The Executive Director is responsible to the Trustees for overseeing the Charity’s operations.
Trustee Appointment, Induction and Training
The proposal to appoint a new trustee is made at a trustee meeting for consideration and approval by the existing trustees. This normally follows a series of discussions between the candidate and the Chair, other trustees and the Executive Director, allowing the candidate to be briefed on legal obligations under charity law, on the Charity’s constitution, business plan, operations and recent financial performance.
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Trustees who are also mentors take part in regular training offered to the Charity’s mentors.
The Charity’s Mentors
Fundamental to the success of Charity Mentors Oxfordshire is the quality of the mentors it appoints. This was a key finding in a formal Impact Assessment which was completed towards the end of 2014 and endorsed by the subsequent Assessments in 2017 and 2019, as well as of a client focus group conducted in 2014 and 2020 and through frequent interactions and feedback after each project. Appreciative reference is frequently made to the mentor quality in the feedback reports the Charity asks clients to complete after individual projects. Mentor quality is fundamental because without good mentors, the Charity cannot fulfil its mission. It is also important because the marketing of the service relies a great deal on client endorsement.
At 31 March 2024 there were 16 mentors available to Charity Mentors in Oxfordshire.
The Charity’s trustees take this opportunity to thank the mentors for their commitment and contribution to the Charity’s success.
Risk management
The Trustees recognise their responsibilities in the management of risk and have a documented risk management strategy and assessment which is reviewed at quarterly Board meetings.
The Trustees consider that the Charity has two principal risks:
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Being seen as giving clients advice which may cause damage to their organisation. To mitigate this, the Executive Director explains the role of a charity mentor and the support they can and cannot offer before a project commences. Mentors are required not to hold themselves out as advisors. Quarterly mentor meetings are held to share best practice and to provide a forum for training. In addition, mentor and mentee feedback is gathered after each project and regular reviews for the mentors are held. The Charity has a formal complaints procedure of which clients are advised on embarking on a project. Mentees are asked to sign a disclaimer before commencement of the project;
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The loss of key operational personnel. This has been mitigated by:
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the compilation during the year of a virtual compendium of all policies, forms and marketing collateral which is now included on the Charity’s website; and
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creating a part-time role to support the Executive Director with communications.
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REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Trustees’ Responsibilities
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions, 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 Charities Act 2011 and the provisions of the Charity’s constitution. 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.
Charity Governance Code
The Charity Governance Code (“the Code”) for smaller charities was published in July 2017 by an independently chaired cross-sector collaboration, the Charity Governance Code Steering Group (“the Code Steering Group”), of which the Charity Commission is an observer. The Charity has taken steps to follow the Code as the Steering Group intended, viz. as a tool for continuous improvement towards the highest standards of governance.
The Trustees’ Report was approved by order of, and on behalf of, the Trustees on 20 January 2025.
Annette Mountford Chair of Trustees
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REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CHARITY MENTORS OXFORDSHIRE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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STATEMENT OF FINANCIAL ACTIVITIES
| Note Income from donations 3 Interest income Total income Expenditure: 4 Communications & publicity costs: Website and technology Communications and publicity Total communications & publicity costs Charitable activities Stakeholder engagement Case co-ordination & monitoring costs Impact assessment, feedback & quality control costs Governance costs Administrative and Sundry Expenses Fundraising Total charitable activities costs Total expenditure Net incoming resources and movement in funds 6 Total funds brought forward Total funds carried forward |
Unrestricted funds £ 133,500 686 134,186 271 1,380 1,651 3,150 2,313 575 1,264 6,814 1,550 15,665 17,316 116,870 22,386 139,255 |
Restricted funds £ 5,000 - 5,000 - - - - 300 - - - 300 300 4,700 - 4,700 |
Year to 31 March 2024 £ 138,500 686 139,186 271 1,380 1,651 3,150 2,313 875 1,264 6,814 1,550 15,965 17,616 121,570 22,386 143,955 |
Year to 31 March 2023 £ 14,500 - 14,500 2,720 2,674 5,394 3,875 3,213 2,412 1,663 9,825 75 21,063 26,457 (11,957) 34,343 22,386 |
|---|---|---|---|---|
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BALANCE SHEET
| Note Current Assets Donations Receivable 5 Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Creditors: Amounts falling due in more than one year Net assets The funds of the Charity Restricted income funds 6 Unrestricted income funds 6 |
Year to 31 March 2024 2,000 142,397 442 143,955 - 143,955 4,700 139,255 143,955 |
Year to 31 March 2023 - 22,928 542 22,386 |
|
|---|---|---|---|
| - | |||
| 22,386 - 22,386 22,386 |
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CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Under the recommendations made by The SORP Committee (an expert committee advising the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator, in their role as the joint SORP-making body recognised by the Financial Reporting Council) the Charity considers itself to be a smaller entity allowing it to take advantage of the exemption from the FRS 102 requirement to publish a Statement of Cash Flows, which the trustees do not consider as providing additional information of value to the users of these financial statements.
The Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they have adopted the going concern basis in preparing the financial statements.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Restricted Funds
Restricted funds, whose use is specified by the donor, are credited to income in the period in which they are received. Where amounts are not specifically allocated against expenditure in that period, the balance is deferred and added to the balance brought forward on the restricted fund to be used in future periods.
Donated services and facilities
In accordance with the Charities SORP (FRS 102), the general volunteer time given by mentors is not recognised (please refer to the trustees’ annual report for more information about the mentors’ contribution). Donated professional services and donated facilities are currently immaterial and are not recognised in the financial statements.
2. STATUS OF THE CHARITY AND INDEPENDENT REVIEW
Charity Mentors Oxfordshire is a Charitable Incorporated Organisation. It is exempt from direct taxation on its surplus of income over expenditure and has no trading operations. It is not registered for value added tax.
For the year ending 31 March 2024, the Charity’s income from donations were above £25,000 and below £250,000. The Charity is therefore undertaking an independent examination of this year’s accounts in accordance with the Charities Commission’s guidance (CC32).
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CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. INCOME FROM DONATIONS
| Year to 31 | Year to 31 | |
|---|---|---|
| Income from donations consists of: | March 2024 | March 2023 |
| £ | £ | |
| Unrestricted income from donations | 108,500 | 12,000 |
| Restricted income from donations | 5,000 | 0 |
| Gift Aid received | 25,000 | 2,500 |
| Total income from donations | 138,500 | 14,500 |
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a) The Charity received a substantial one-time donation from a benefactor of £100,000 and £25,000 in Gift Aid in November 2023. This amount is unrestricted.
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b) A restricted donation of £5,000 was received in November 2023 for the purposes of (i) impact framework development and (ii) events to recruit new mentees. The balance of this donation included in restricted income funds (note 5 below) was £4,700 as at 31 March 2024 (at 31 March 2023 - nil).
4. EXPENDITURE
The Charity’s principal expenses consist of the services of an Executive Director and supporting consultants. This amounted to £16,241 in the year to 31 March 2024 (year to 31 March 2023 - £25,251) and reflected the less activity due to Executive Director transition in July and August 2023. These services are allocated to the separate expenditure categories in the financial statements using analysis of time records. Approximate time allocations are as follows:
| Year to 31 | Year to 31 | |
|---|---|---|
| March 2024 | March 2023 | |
| Communications and publicity | 8% | 20% |
| Stakeholder engagement | 19% | 15% |
| Case co-ordination and monitoring | 14% | 12% |
| Impact assessment, feedback and quality control | 4% | 9% |
| Governance | 4% | 6% |
| Administration and Expenses | 42% | 37% |
| Fundraising | 10% | 1% |
| Total | 100% | 100% |
The following is an analysis of total expenditure by cost component:
| Year to 31 | Year to 31 | Year to 31 | |
|---|---|---|---|
| March 2024 | March | 2023 | |
| £ | £ | ||
| Fees for services | 16,241 | 25,251 | |
| Travel | 67 | 520 | |
| Training and subscriptions | 405 | - | |
| Meeting costs | 415 | 212 | |
| Insurance | 129 | 129 | |
| Bank charges | 89 | 86 | |
| Website and technology costs | 271 | 259 | |
| Total | 17,616 | 26,457 |
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5. DONATIONS RECEIVABLE
As at 31 March 2024, the Charities expected £2,000 from the following organisations, which had since been received.
| Pye's Charitable Settlement | £1,000 |
|---|---|
| Helen Roll Charity | 1,000 |
6. THE FUNDS OF THE CHARITY
Movements of the Charity’s funds are summarised as follows:
| Unrestricted income funds |
Restricted income funds |
Total funds | |
|---|---|---|---|
| £ | £ | £ | |
| At 1 April 2023 | 22,386 | nil | 22,386 |
| Movement during the year | 116,870 | 4,700 | 121,570 |
| At 31 March 2024 | 139,255 | 4,700 | 143,955 |
The purposes of the balances on restricted income funds are described in note 3 above.
7. TRUSTEE REMUNERATION
The Trustees received no remuneration nor any reimbursement of expenses during the period.
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CHARITY MENTORS OXFORDSHIRE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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CHARITY MENTORS OXFORDSHIRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF FINANCIAL ACTIVITIES
| Note Income from donations 3 Interest income Total income Expenditure: 4 Communications & publicity costs: Website and technology Communications and publicity Total communications & publicity costs Charitable activities Stakeholder engagement Case co-ordination & monitoring costs Impact assessment, feedback & quality control costs Governance costs Administrative and Sundry Expenses Fundraising Total charitable activities costs Total expenditure Net incoming resources and movement in funds 6 Total funds brought forward Total funds carried forward |
Unrestricted funds £ 133,500 686 134,186 271 1,380 1,651 3,150 2,313 575 1,264 6,814 1,550 15,665 17,316 116,870 22,386 139,255 |
Restricted funds £ 5,000 - 5,000 - - - - 300 - - - 300 300 4,700 - 4,700 |
Year to 31 March 2024 £ 138,500 686 139,186 271 1,380 1,651 3,150 2,313 875 1,264 6,814 1,550 15,965 17,616 121,570 22,386 143,955 |
Year to 31 March 2023 £ 14,500 - 14,500 2,720 2,674 5,394 3,875 3,213 2,412 1,663 9,825 75 21,063 26,457 (11,957) 34,343 22,386 |
|---|---|---|---|---|
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CHARITY MENTORS OXFORDSHIRE
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BALANCE SHEET
| Note Current Assets Donations Receivable 5 Cash at bank and in hand Creditors: Amounts falling due within one year Net current assets Creditors: Amounts falling due in more than one year Net assets The funds of the Charity Restricted income funds 6 Unrestricted income funds 6 |
Year to 31 March 2024 2,000 142,397 442 143,955 - 143,955 4,700 139,255 143,955 |
Year to 31 March 2023 - 22,928 542 22,386 |
|
|---|---|---|---|
| - | |||
| 22,386 - 22,386 22,386 |
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CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Under the recommendations made by The SORP Committee (an expert committee advising the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator, in their role as the joint SORP-making body recognised by the Financial Reporting Council) the Charity considers itself to be a smaller entity allowing it to take advantage of the exemption from the FRS 102 requirement to publish a Statement of Cash Flows, which the trustees do not consider as providing additional information of value to the users of these financial statements.
The Trustees have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they have adopted the going concern basis in preparing the financial statements.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Restricted Funds
Restricted funds, whose use is specified by the donor, are credited to income in the period in which they are received. Where amounts are not specifically allocated against expenditure in that period, the balance is deferred and added to the balance brought forward on the restricted fund to be used in future periods.
Donated services and facilities
In accordance with the Charities SORP (FRS 102), the general volunteer time given by mentors is not recognised (please refer to the trustees’ annual report for more information about the mentors’ contribution). Donated professional services and donated facilities are currently immaterial and are not recognised in the financial statements.
2. STATUS OF THE CHARITY AND INDEPENDENT REVIEW
Charity Mentors Oxfordshire is a Charitable Incorporated Organisation. It is exempt from direct taxation on its surplus of income over expenditure and has no trading operations. It is not registered for value added tax.
For the year ending 31 March 2024, the Charity’s income from donations were above £25,000 and below £250,000. The Charity is therefore undertaking an independent examination of this year’s accounts in accordance with the Charities Commission’s guidance (CC32).
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CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
3. INCOME FROM DONATIONS
| Year to 31 | Year to 31 | |
|---|---|---|
| Income from donations consists of: | March 2024 | March 2023 |
| £ | £ | |
| Unrestricted income from donations | 108,500 | 12,000 |
| Restricted income from donations | 5,000 | 0 |
| Gift Aid received | 25,000 | 2,500 |
| Total income from donations | 138,500 | 14,500 |
-
a) The Charity received a substantial one-time donation from a benefactor of £100,000 and £25,000 in Gift Aid in November 2023. This amount is unrestricted.
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b) A restricted donation of £5,000 was received in November 2023 for the purposes of (i) impact framework development and (ii) events to recruit new mentees. The balance of this donation included in restricted income funds (note 5 below) was £4,700 as at 31 March 2024 (at 31 March 2023 - nil).
4. EXPENDITURE
The Charity’s principal expenses consist of the services of an Executive Director and supporting consultants. This amounted to £16,241 in the year to 31 March 2024 (year to 31 March 2023 - £25,251) and reflected the less activity due to Executive Director transition in July and August 2023. These services are allocated to the separate expenditure categories in the financial statements using analysis of time records. Approximate time allocations are as follows:
| Year to 31 | Year to 31 | |
|---|---|---|
| March 2024 | March 2023 | |
| Communications and publicity | 8% | 20% |
| Stakeholder engagement | 19% | 15% |
| Case co-ordination and monitoring | 14% | 12% |
| Impact assessment, feedback and quality control | 4% | 9% |
| Governance | 4% | 6% |
| Administration and Expenses | 42% | 37% |
| Fundraising | 10% | 1% |
| Total | 100% | 100% |
The following is an analysis of total expenditure by cost component:
| Year to 31 | Year to 31 | Year to 31 | |
|---|---|---|---|
| March 2024 | March | 2023 | |
| £ | £ | ||
| Fees for services | 16,241 | 25,251 | |
| Travel | 67 | 520 | |
| Training and subscriptions | 405 | - | |
| Meeting costs | 415 | 212 | |
| Insurance | 129 | 129 | |
| Bank charges | 89 | 86 | |
| Website and technology costs | 271 | 259 | |
| Total | 17,616 | 26,457 |
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CHARITY MENTORS OXFORDSHIRE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
5. DONATIONS RECEIVABLE
As at 31 March 2024, the Charities expected £2,000 from the following organisations, which had since been received.
| Pye's Charitable Settlement | £1,000 |
|---|---|
| Helen Roll Charity | 1,000 |
6. THE FUNDS OF THE CHARITY
Movements of the Charity’s funds are summarised as follows:
| Unrestricted income funds |
Restricted income funds |
Total funds | |
|---|---|---|---|
| £ | £ | £ | |
| At 1 April 2023 | 22,386 | nil | 22,386 |
| Movement during the year | 116,870 | 4,700 | 121,570 |
| At 31 March 2024 | 139,255 | 4,700 | 143,955 |
The purposes of the balances on restricted income funds are described in note 3 above.
7. TRUSTEE REMUNERATION
The Trustees received no remuneration nor any reimbursement of expenses during the period.
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Independent examiner's report on the accounts
Section A Independent Examiner’s Report
| Report to the trustees On accounts for the year ended Set out on pages |
Charity Name Charity Mentors Oxfordshire |
|---|---|
| 31stMarch 2024 Charity no (if any) 1164429 |
|
| Appended |
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2024.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent I have completed my examination. I confirm that no material matters have come examiner's to my attention in connection with the examination (other than that disclosed statement below *) which gives me cause to believe that in, any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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Date: 28 [nd] August 2024
Signed:
Name: John Mutsaars
Relevant Member in practice for the institute of accountants and bookkeepers
professional
qualification:
Address: Luckett Cottage, High Street, Longborough, Moreton in Marsh, GL56 0QE
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Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose .
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