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2021-12-31-accounts

Dyslexia Cornwall

A Charitable Incorporated Organisation

Charity No. 1165690

Trustees' Report and Unaudited Accounts

31 December 2021

Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS

Dyslexia Cornwall CONTENTS

Pages
Trustees' Annual Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 18

Page 1

Dyslexia Cornwall TRUSTEES ANNUAL REPORT

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 1165690

Registered Office

C/o CCAS The Elms 61 Green Lane Redruth TR15 1LS

Honorary President

Sarah Wright

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

Alison Butler (Appointed 18 June 2021) Barbara Hewett Silk Delia Hazell Julia Smith Morag Giles Ruth Symons Samantha Edmonds (Appointed 8 November 2021)

Accountants

Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS

Bankers

HSBC Plc (St Austell) 14 Fore Street ST Austell Cornwall PL25 5EP

Page 2

Dyslexia Cornwall TRUSTEES ANNUAL REPORT

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 December 2021.

OBJECTIVES AND ACTIVITIES

The purpose of the charity is to support the needs of dyslexic children and young people in education or training and adults in unemployment, training or in the workplace. This is achieved by raising public and professional awareness of dyslexia and campaigning for appropriate provision for dyslexics in local schools and colleges, and appropriate support in the employment sector. A key aim is also better understanding of dyslexics in the wider society and less discrimination.

The charity offers advice and guidance to dyslexic people, family and friends, and provides training for those in the statutory or voluntary sector, in business, education or employment services.

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing their aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to those aims and objectives.

ACHIEVEMENTS AND PERFORMANCE

The charity now signposts individuals to services, but continues to develop paid-for services and networking with other Cornish charities and organisations (mainly through the Building Better Opportunities initiative) in an effort to make the charity sustainable for the future.

Par Bay Big Local

There is a small balance of £375 remaining in this fund. None of this fund has been used during 2021 and the balance is carried forward for future use.

Active Plus - Who Dares Works Project

We received £27,900 of funds from the European Social fund and National Lottery Community Fund through Active Plus as a result of our involvement in the Who Dares Works Project.

The Who Dares Works Project is a project funded as part of the Building Better Opportunities initiative. This project is funding a Dyslexia Advisor (22.5 hours per week) and Management/Financial support (7.5 hours per week), along with directly associated costs. The input of the Dyslexia Advisor is proving extremely beneficial for the participants of the project.

This project is scheduled to end in March 2023.

Cornwall Community Foundation (Cornwall Glass)

We received Grant Funding of £1,000 received on 09 November 2020, however funding not used until 2021.

This funding was used to support the costs of running our Helpline, recruit and train 6 volunteers and to fund 4 Outreach events covering Mid and West Cornwall. These sessions provide face to face information and advice in communities.

Page 3

Dyslexia Cornwall TRUSTEES ANNUAL REPORT

Other Activities

In addition to the above the charity operates a dyslexia friendly website, which was redesigned in 2016, making information more accessible and as dyslexia friendly as possible.

The charity also works closely with Cornwall Council to assist schools in achieving Inclusive Dyslexia Friendly School accreditation status.

Finally, the charity operates a helpline often providing the first point of contact for people seeking help or advice. This service is operated by our hard working helpline volunteers and without their commitment we would be unable to provide this important service. During 2020 this service has been particularly valuable for parents who have had to support their children with home education.

FINANCIAL REVIEW

The income for the year was increased to £33,540 (2020 £27,875). Expenditure was increased to £31,881 (2020 £29,448). The overall surplus was £1,659 (2020 £1,573 deficit) and is compatible with the reserves policy below.

Reserves Policy

The trustees aim to retain reserves to ensure the charity’s long term viability. This policy will be reviewed on an annual basis. Unrestricted funds currently stand at £9,152 (2020: £7,705) and the charity therefore aims to increase this by achieving an annual surplus. However, at this time the charity’s only income is £3,100 per annum from Active Plus Indirect costs (15% of gross salaries) and profit from paid-for services which is unpredictable. (Income from paid for services greatly reduced during 2020 due to Covid19 face to face restrictions. However services slowly recommenced from August 2021.)

The charity continues to research funding streams and in the meantime will use unrestricted funds to support the charity until such time as unrestricted funds fall to £5,000. At this point the charity would curtail activities to website and helpline run entirely by volunteers. The charity is now very close to this point and the Trustees continue to monitor the situation regularly.

Risk Management

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

Investment Policy

The trustees regularly review the cash held by the charity and place any surplus funds in an interest bearing deposit account when appropriate.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is registered as a Charitable Incorporated Organisation and is governed by a constitution based on the charity commission CIO association model.

The charity was registered on a CIO on 23 January 2016 and commenced operating on 1 March 2016 when the activities were transferred from Cornwall Dyslexia Association, registration number 270876.

Page 4

Dyslexia Cornwall TRUSTEES ANNUAL REPORT

The trustees who served during the year are shown on page 1. Suitable individuals are identified as potential new trustees by the existing trustees on the basis of their skills and knowledge. New trustees receive an induction into the workings of the charity on appointment.

Key Management Personnel

The trustees consider the board of trustees comprise the key management personnel of the charity, to be in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee received any remuneration in the year for their role as a trustee. Details of the trustees’ expenses and related party transactions are disclosed in note 9. to the financial statements.

Key Management Personnel

The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the trustees benchmark against pay levels in other similar organisations.

TRUSTEES RESPONSIBILITIES

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

Ruth Symons Trustee 25 October 2022

Page 5

Dyslexia Cornwall INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the trustees of Dyslexia Cornwall

I report to the charity trustees on my examination of the accounts of Dyslexia Cornwall for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

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.

Debbie Risborough Association of Chartered Certified Accountants

Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS 25 October 2022

Page 6

Dyslexia Cornwall STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2021

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total
Expenditure on:
Charitable activities
8
Total
Net gains on investments
Net income/(expenditure)
9
Transfers between funds
Net income/(expenditure)
before other gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought
forward
Total funds carried
forward		 Unrestricted
funds
2021
£
635
4,942
60
1		 Restricted
funds
2021
£
-
27,900
-
-		 Total
funds
2021
£
635
32,842
60
1		 Total
funds
2020
£
176
27,691
-
8
5,638
7,354		 27,900
24,525		 33,538
31,879		 27,875
29,448
7,354
-		 24,525
-		 31,879
-		 29,448
-
(1,716)
3,967		 3,375
(3,967)		 1,659
-		 (1,573)
-
2,251 (592) 1,659 (1,573)
2,251
7,714		 (592)
1,989		 1,659
9,703		 (1,573)
11,276
9,965 1,397 11,362 9,703

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Page 7

Dyslexia Cornwall BALANCE SHEET

at
31 December 2021
Company No. CE006692
Notes
2021
£
Fixed assets
Tangible assets
12
687
687
Current assets
Debtors
13
931
Cash at bank and in hand
10,243
11,174
Creditors:Amount falling due within one year
14
(499)
Net current assets
10,675
Total assets less current liabilities
11,362
Net assets excluding pension asset or liability
11,362
Total net assets
11,362
The funds of the charity
Restricted funds
15
Restricted income funds
1,397
1,397
Unrestricted funds
15
General funds
3,337
Designated funds
6,628
9,965
Reserves
15
Total funds
11,362		 2020
£
174
174
688
9,326
10,014
(485)
9,529
9,703
9,703
9,703
1,989
1,989
4,870
2,844
7,714
9,703

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 December 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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.

Approved by the board on 25 October 2022

And signed on its behalf by:

Ruth Symons Trustee 25 October 2022

Page 8

Dyslexia Cornwall NOTES TO THE ACCOUNTS

for the year ended 31 December 2021

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

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

The charity constitutes a public benefit entity as defined by FRS102.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular Designated funds purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Page 9

Dyslexia Cornwall NOTES TO THE ACCOUNTS

Income

Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when
income the charity becomes entitled to, and virtually certain to receive, the income
and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure
expenditure is reported gross in the SoFA.
Donations and Voluntary income received by way of grants, donations and gifts is
legacies included in the the SoFA when receivable and only when the Charity has
unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the
donations and gifts gift/donation to which it relates.
Donated services These are only included in income (with an equivalent amount in
and facilities expenditure) where the benefit to the Charity is reasonably quantifiable,
measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gains/(losses) on This includes any gain or loss resulting from revaluing investments to
revaluation of fixed market value at the end of the year.
assets
Gains/(losses) on This includes any gain or loss on the sale of investments.
investment assets
Expenditure
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any
expenditure VAT which cannot be fully recovered, and is reported as part of the
expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income,
raising funds fundraising trading costs and investment management costs.
Expenditure on These comprise the costs incurred by the Charity in the delivery of its
charitable activities activities and services in the furtherance of its objects, including the
making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an
accrual for grants that have been approved by the trustees at the end of the
year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and
statutory requirements of the Charity, including any audit/independent
examination fees, costs linked to the strategic management of the Charity,
together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 10

Dyslexia Cornwall NOTES TO THE ACCOUNTS

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Furniture and 20% Reducing balance equipment

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 11

Dyslexia Cornwall NOTES TO THE ACCOUNTS

Statement of cash flows

The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

The organisation is a charitable incorporated organisation (CIO) and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments
from:
Donations and legacies
Charitable activities
Investments
Total
Expenditure on:
Charitable activities
Total
Net income
Transfers between funds
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought
forward
Total funds carried
forward
4
Income from donations and
legacies
Donations and appeals		 Unrestricted
funds
2020
£
176
441
8
625
7,017
7,017
(6,392)
3,157
(3,235)
(3,235)
10,949
7,714
Unrestricted
£
635
635		 Restricted
funds
2020
£
-
27,250
-
27,250
22,431
22,431
4,819
(3,157)
1,662
1,662
327
1,989
Total
2021
£
635
635		 Total
funds
2020
£
176
27,691
8
27,875
29,448
29,448
(1,573)
(1,573)
(1,573)
11,276
9,703
Total
2020
£
176
176

Page 12

Dyslexia Cornwall NOTES TO THE ACCOUNTS

5 Income from charitable activities

Grant Income
Who Dares Works
Cornwall Glass
Primary Purpose
Trading
Memberships
Consultancy
6
Income from other trading
activities
Miscellaneous
7
Income from investments
Interest from cash
deposits		 Unrestricted
£
-
-
305
4,637
4,942		 Restricted
£
27,900
-
-
-
27,900
Unrestricted
£
60
60
Unrestricted
£
1
1		 Total
2021
£
27,900
-
305
4,637
32,842
Total
2021
£
60
60
Total
2021
£
1
1		 Total
2020
£
26,250
1,000
286
155
27,691
Total
2020
£
-
-
Total
2020
£
8
8

Page 13

Dyslexia Cornwall NOTES TO THE ACCOUNTS

Expenditure on charitable 8 activities

Direct expenditure on
charitable activities
Venue Hire
Volunteer Expenses
Trustee Expenses
Support Costs
Wages
Pensions
Travel and subsistence
Rent & rates
Insurance
Telephone and fax
Printing, postage and
stationary
Subscriptions
sundry expenses
Consultancy fees
Depreciation
Governance costs
Accountancy fees
Independent
examination of the
charity's accounts
9
Net income/(expenditure) before
transfers
This is stated after charging:
Depreciation of owned fixed assets		 Unrestricted
£
44
-
24
200
6
29
446
399
159
1,619
172
147
2,907
237
480
485
7,354		 Restricted
£
98
204
-
20,752
281
2,230
-
-
160
476
324
-
-
-
-
-
24,525
2021
£
237		 Total
2021
£
142
204
24
20,952
287
2,259
446
399
319
2,095
496
147
2,907
237
480
485
31,879		 Total
2020
£
78
29
-
21,237
284
1,169
446
437
855
3,345
480
78
-
44
480
486
29,448
2020
£
44

Page 14

Dyslexia Cornwall NOTES TO THE ACCOUNTS

Trustee remuneration and

10 expenses

One or more of the trustees has been paid remuneration in the current or prior periods.

Trustee
Remuneration
Pension
Other
benefits
Ruth Symons
2,402
-
-
One or more of the trustees has been paid expenses in the current or prior periods.
2021
Number
£
Total expenses reimbursed to trustees
216
11 Staff costs
Salaries and wages
20,952
Pension costs
287
21,239		 2020
Number
£
29
21,237
284
21,521

No employee received emoluments in excess of £60,000.

The average monthly number of full time equivalent employees during the year was as follows:

Charitable activities 2021
Number
3
3		 2020
Number
3
3

The charity operates a defined contribution pension scheme in respect of the staff. The scheme and its assets are held in an independently administered pension fund. The pension charge for the period represents contributions due from the charity to the fund and are shown above. There were no outstanding contributions payable at the end of either the current or previous period.

Page 15

Dyslexia Cornwall NOTES TO THE ACCOUNTS

12 Tangible fixed assets

Cost or revaluation
At 1 January 2021
Additions
At 31 December 2021
Depreciation and
impairment
At 1 January 2021
Depreciation charge
for the year
At 31 December 2021
Net book values
At 31 December 2021
At 31 December 2020
13 Debtors
Trade debtors
14 Creditors:
amounts falling due within one year
Trade creditors
Accruals and deferred income		 2021
£
931
931
2021
£
15
484
499		 Furniture
and
equipment
£
10,206
750
10,956
10,032
237
10,269
687
174		 Total
£
10,206
750
10,956
10,032
237
10,269
687
174
2020
£
688
688
2020
£
-
485
485

Page 16

Dyslexia Cornwall NOTES TO THE ACCOUNTS

15 Movement in funds

15 Movement in funds
At 1
January
2021
613
376
1,000
1,989
4,870
2,844
-
2,844
9,703		 Incoming
resources
(including
other
gains/losses)
£
27,900
-
-
27,900
5,638
-
-
-
33,538		 Resources
expended
£		 Gross
transfers
£
(3,905)
-
(62)
(3,967)
(54)
3,097
924
4,021
-		 At 31
Decembe
r 2021
£
1,021
376
-
Restricted funds:
Restricted income
funds:
Who Dares Works
Par Bay Fund
Cornwall Glass
Total
Unrestricted funds:
General funds
Designated funds:
Redundancy Fund
Capital designated
fund
Total
Revaluation
Reserves:
Total funds
(23,587)
-
(938)
(24,525)
(7,117)
-
(237)
(237)
(31,879)
1,397
3,337
5,941
687
6,628
11,362

Purposes and restrictions in relation to the funds:

Restricted funds: Who Dares Works Grant to cover the cost of a Dyslexia Advisor and associated costs. Par Bay Fund Grant specifically for activities within Par Bay Cornwall Glass Grant for advice sessions within the community.

Designated funds: Redundancy Fund Anticipated costs on the completion of the Active Plus Who Dares Works project.

Capital designated In accordance with SORP requirements the amounts paid for capital fund items are transferred here to match ongoing depreciation.

Analysis of net assets between 16 funds

Fixed assets
Net current assets		 Unrestricted
funds
£
687
9,278
9,965		 Restricted
funds
£
-
1,397
1,397		 Total
£
687
10,675
11,362

Page 17

Dyslexia Cornwall NOTES TO THE ACCOUNTS

17 Related party disclosures Controlling party

The company is a charitable incorporated organisation and has no share capital; thus no single party controls the charity.

Page 18