Charity Registration Number: 1167119
The Dyslexia Teaching Centre Financial Statements For the Year Ending 31 July 2023
JANE ASCROFT ACCOUNTANCY LIMITED
Chartered accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
The Dyslexia Teaching Centre
Financial Statements
Year Ended 31 July 2023
| Page | |
|---|---|
| Trustees' Annual Report | 1 |
| Independent Examiner's Report to the Trustees | 6 |
| Statement of Financial Activities | 7 |
| Statement of Financial Position | 8 |
| Notes to the Financial Statements | 9 |
| The Following Pages Do Not Form Part of the Financial Statements | |
| Detailed Statement of Financial Activities | 17 |
The Dyslexia Teaching Centre
Trustees' Annual Report
Year Ended 31 July 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 July 2023.
Objectives and Activities
The objects of the Charity are to help persons suffering from dyslexia, dyspraxia, dyscalculia, dysgraphia, attention deficit disorder and other specific learning difficulties and disabilities, particularly by:
(1) providing financial assistance to enable such persons to receive appropriate teaching and support;
(2) providing outreach programmes to schools and other establishments to widen access to such teaching and support; and
(3) providing support (including but not limited to financial, logistical and training support) to schools and other establishments to enable them to provide such outreach programmes.
Charitable Work 2022/2023
The Trustees confirm they have regard to the Charity Commission's guidance on public benefit and consider each year how it meets the public benefit objectives outlined in Section 4 of the Charities Act 2011.
They are satisfied that The Dyslexia Teaching Centre Trust meets the requirements and conforms with the Act's definition of a charity, being established for a recognised charitable purpose and being for the public benefit - meeting all elements of the two key principles.
In 2022/2023 the Charity continued to operate an outreach programme in six London primary schools. (The London Dyslexia Initiative).
The Charity contracted with The Dyslexia Teaching Centre Limited (a company wholly owned by the Charity) to provide tailored support for children suffering from difficulties and disabilities in accordance with its charitable objects. The Director of The Dyslexia Teaching Centre Limited has sole responsibility for its commercial operations.
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The Dyslexia Teaching Centre
Trustees' Annual Report (continued)
Year Ended 31 July 2023
Achievements and Performance
The 2022/2023 academic year saw The London Dyslexia Initiative continue its work in its existing London primary schools: Addison, Ark Brunel, Avondale Park, Brackenbury, Colville and Marlborough Primary.
The programme had five tutors and three volunteers working on literacy skills.
The Charity covered half of the Initiative costs with half of the costs contributed by the primary schools themselves.
.
Detailed review of activities
In the 2022/23 Academic Year the DTC supported 45 children through its bursary fund (2021/22: 36).
This support included:
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Specialist screening and one-to-one teaching by five tutors for 45 children;
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Attendance at the Saturday Reading Club for one child;
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Weekly literacy sessions with three volunteers;
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Assistance with applications for Educational Health and Care Plans when requested.
In 2022-23 the DTC employed five part-time tutors to teach in six state primary schools. The primary schools were in Hammersmith & Fulham (Brackenbury and Addison) and Kensington & Chelsea (Colville, Avondale Park, Ark Brunel and Marlborough).
The DTC supports the majority of its bursary children over a two year period. However, due to the pandemic some children remained in our programme for more than two years. This happened when it was clear they needed additional support to make meaningful gains in their reading comprehension and to become more independent in the classroom. Other children may see us for a shorter period if they are deemed to have boosted their skills or confidence rapidly, or, occasionally, if it is apparent they will not respond well to our intervention programme.
In total, the tutors supported 45 children with 1-1 weekly sessions. The main focus of the sessions was reading accuracy, fluency and comprehension. Other skills were taught if needed and/or when the pupils were reading confidently but required an additional boost to demonstrate their gains in the classroom. Tutors used attainment tests and standardised reading and diagnostic tests at the start of tutoring. Pupils' progress was monitored and reports written for the schools' teachers, teaching assistants and SENDCos, as well as for parents, reporting on progress against set targets. On a weekly basis tutors shared information with class teachers and/or teaching assistants and/or parents, where appropriate, so they could help consolidate their children's progress. Sometimes tutors were involved in assisting the schools with an application for an Education Health and Care Plans for a child. In some cases, children were assessed by our tutors but not subsequently taught by our team. Twenty children had specialist assessments at our various partner primary schools in 2022-23.
As well as the specialist tuition, experienced reading volunteers worked with some of our children at Avondale Park, Colville, Addison and Marlborough Primary Schools seeing 11 children weekly between them. While most of these children also had weekly sessions with our tutors as well as seeing a volunteer, 3 of them were additional children supported only by a volunteer. Some children were taught at our centre in Kensington. One child attended the weekly Saturday morning Reading Club at the DTC. Another child had weekly 1-1 tutoring at the DTC. She also had a specialist literacy assessment. In the coming academic year we expect the programme to continue at this same level.
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The Dyslexia Teaching Centre
Trustees' Annual Report (continued)
Year Ended 31 July 2023
Financial Review
The results for the year are shown on pages 7 and 8. Income for the year totalled £53,875 (2022 - £67,911) and expenditure was £31,972 (2022 - £37,026) giving a surplus of £21,903 (2022 - £30,885). At 31st July 2023 there were net assets of £94,596 (2022 - £72,693).
Reserves policy
The Charity follows a policy of retaining sufficient funds to cover three months of charitable expenditure which currently equates to approximately £10,000. At 31st July 2023 there were net assets of £94,596 (2022 - £72,693).
Bank account
The Charity's funds are deposited with CAF bank which, in the Trustees' view, is a prudent investment.
Related parties
The Charity has a wholly-owned trading company, The Dyslexia Teaching Centre Limited (company number 5518963).
Plans for future developments
The Trustees' intention is to continue to meet the aims and objectives of the Charity through the activities listed above and explore new ways to reach pupils in need.
Looking Ahead
In 2023/2024 the Charity has continued to fund The London Dyslexia Initiative in the current six State primary schools. The feedback from these schools remains very positive and reinforces the Charity's ethos in addressing the need for tailored specialist support for dyslexic children. The Trustees are extremely grateful to all the specialist tutors involved in working with Initiative students.
The current schools contribute one half of the cost of specialist tutors but beyond that the running costs are financed by the Charity itself. The Charity has to regularly review its charitable funds and the extent to which it can provide help.
The Charity faces challenges to fundraising as the number of pupils and persons personally connected with the Charity is reduced. The Trustees aim to apply for third party grants from trusts as appropriate to continue the programme and individual bursaries as well as investigate new ways of facilitating student dyslexia support using the technological advancement accelerated by the pandemic.
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The Dyslexia Teaching Centre
Trustees' Annual Report (continued)
Year Ended 31 July 2023
Structure, Governance and Management
The Dyslexia Teaching Centre (the 'Charity' or the 'DTC') is a charitable incorporated organisation registered in England and Wales under number 1167119 on 16 May 2016.
Constitution
The Charity is a charitable incorporated organisation governed by its constitution as registered with the Charity Commission in England and Wales.
The Charity has a wholly-owned trading company, The Dyslexia Teaching Centre Limited (company number 5518963). These financial statements consolidate the results of the Charity and the limited company on a line-by-line basis.
Method of appointment or election of Trustees
The management of the Charity and the Group is the responsibility of the Trustees who are elected and co- opted under the terms of the Constitution.
Risk management
The Trustees have examined the major strategic and operational risks which the Charity faces and can confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
Reference and Administrative Details
Registered charity name The Dyslexia Teaching Centre Charity registration number 1167119 Principal office 23 Kensington Square London W8 5HN The Trustees
Mrs P R Mann Prof G W Libby Dr S M C Hardman Mrs C Armrolia Mr D G Quinn Independent Examiner Jane Ascroft FCA MA (Cantab) Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
4
The Dyslexia Teaching Centre
Trustees' Annual Report (continued)
Year Ended 31 July 2023
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mrs P R Mann Trustee
5
The Dyslexia Teaching Centre
Independent Examiner's Report to the Trustees of The Dyslexia Teaching Centre
Year Ended 31 July 2023
I report to the trustees on my examination of the financial statements of The Dyslexia Teaching Centre ('the charity') for the year ended 31 July 2023.
Responsibilities and Basis of Report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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 Examiner's Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do 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.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP
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The Dyslexia Teaching Centre
Statement of Financial Activities
Year Ended 31 July 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fundsTotal funds | Total funds | |||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 53,277 | 53,277 | 67,877 |
| Investment income | 5 | 598 | 598 | 34 |
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| Total income | 53,875 | 53,875 | 67,911 | |
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| Expenditure | ||||
| Expenditure on charitable activities | 6,7 | 31,972 | 31,972 | 37,026 |
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| Total expenditure | 31,972 | 31,972 | 37,026 | |
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| Net income and net movement in funds | 21,903 | 21,903 | 30,885 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 72,693 | 72,693 | 41,808 | |
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| Total funds carried forward | 94,596 | 94,596 | 72,693 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 15 form part of these financial statements.
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The Dyslexia Teaching Centre
Statement of Financial Position
31 July 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed Assets | |||
| Investments | 12 | 100 | 100 |
| Current Assets | |||
| Debtors | 13 | 24,077 | 50,411 |
| Cash at bank and in hand | 97,088 | 41,417 | |
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| 121,165 | 91,828 | ||
| Creditors: amounts falling due within one year | 14 | 26,669 | 19,235 |
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| Net Current Assets | 94,496 | 72,593 | |
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| Total Assets Less Current Liabilities | 94,596 | 72,693 | |
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| Net Assets | 94,596 | 72,693 | |
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| Funds of the Charity | |||
| Unrestricted funds | 94,596 | 72,693 | |
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| Total charity funds | 15 | 94,596════════ |
72,693════════ |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Mrs P R Mann Trustee
The notes on pages 9 to 15 form part of these financial statements.
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The Dyslexia Teaching Centre
Notes to the Financial Statements
Year Ended 31 July 2023
1. General Information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 23 Kensington Square, London, W8 5HN.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
There are no material uncertainties about the charity’s ability to continue.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements that affect these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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The Dyslexia Teaching Centre
Notes to the Financial Statements (continued)
Year Ended 31 July 2023
3. Accounting Policies (continued)
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity, being the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.
Investment income is included when receivable.
Income from charitable trading activity is accounted for when earned.
Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
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The Dyslexia Teaching Centre
Notes to the Financial Statements (continued)
Year Ended 31 July 2023
3. Accounting Policies (continued)
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
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The Dyslexia Teaching Centre
Notes to the Financial Statements (continued)
Year Ended 31 July 2023
3. Accounting Policies (continued)
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.
Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company 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 to charitable purposes.
4. Donations and Legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | 29,200 | 29,200 | 17,466 | 17,466 |
| Donation from Dyslexia Teaching | ||||
| Centre Ltd | 24,077 | 24,077 | 50,411 | 50,411 |
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| 53,277 | 53,277 | 67,877 | 67,877 | |
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5. Investment Income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 598 | 598 | 34 | 34 |
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6. Expenditure on Charitable Activities by Fund Type
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Costs of charitable activities (see page | ||||
| 17) | 30,900 | 30,900 | 36,450 | 36,450 |
| Support costs | 1,072 | 1,072 | 576 | 576 |
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| 31,972 | 31,972 | 37,026 | 37,026 | |
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The Dyslexia Teaching Centre
Notes to the Financial Statements (continued)
Year Ended 31 July 2023
7. Expenditure on Charitable Activities by Activity Type
| Grant funding | Total funds | Total fund | |||
|---|---|---|---|---|---|
| of activities Support costs | 2023 | 2022 | |||
| £ | £ | £ | £ | ||
| Costs of charitable activities (see page | |||||
| 17) | 30,900 | 1,072 | 31,972 | 37,026 | |
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| 8. | Analysis of Grants | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Grants to Institutions | |||||
| Grants to the Dyslexia Teaching Centre | Ltd | 30,900 | 36,450 | ||
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| Total grants | 30,900 | 36,450 | |||
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| 9. | Independent Examination Fees | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 924════ |
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10. Staff Costs
The average head count of employees during the year was Nil (2022: Nil).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee Remuneration and Expenses
Trustees received neither remuneration nor expenses in the current and previous year.
12. Investments
| Shares in | |
|---|---|
| group | |
| undertakings | |
| £ | |
| Cost or valuation | |
| At 1 August 2022 and 31 July 2023 | 100 |
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| Impairment | |
| At 1 August 2022 and 31 July 2023 | – |
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| Carrying amount | |
| At 31 July 2023 | 100 |
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| At 31 July 2022 | 100 |
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The Dyslexia Teaching Centre
Notes to the Financial Statements (continued)
Year Ended 31 July 2023
12. Investments (continued)
All investments shown above are held at valuation.
The charity's investment comprises the following:
Name of subsidiary: Dyslexia Teaching Centre Limited
Nature of business: To provide tailored support for children suffering from difficulties and disabilities
Class of shares: Ordinary Holding held by the Dyslexia Teaching Centre: 100%
The results of the Dyslexia Teaching Centre Limited for the year ending 31st July 2023:
Surplus for the year after tax: £Nil Capital and reserves: (£2,026)
13. Debtors
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Donation from Dyslexia Teaching Centre Ltd | 24,077 | 50,411 |
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| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Amounts owed to group undertakings | 25,745 | 18,395 |
| Accruals and deferred income | 924 | 840 |
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| 26,669 | 19,235 | |
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14. Creditors: amounts falling due within one year
15. Analysis of Charitable Funds
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | 1 | August | At | ||||
| 2022 | Income | Expenditure | 31 | July 2023 | |||
| £ | £ | £ | £ | ||||
| General funds | 72,693 | 53,875 | (31,972) | 94,596 | |||
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| At | 1 | August | At | ||||
| 2021 | Income | Expenditure | 31 | July 2022 | |||
| £ | £ | £ | £ | ||||
| General funds | 41,808 | 67,911 | (37,026) | 72,693 | |||
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The Dyslexia Teaching Centre
Notes to the Financial Statements (continued)
Year Ended 31 July 2023
16. Analysis of Net Assets Between Funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Investments | 100 | 100 |
| Current assets | 121,165 | 121,165 |
| Creditors less than 1 year | (26,669) | (26,669) |
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|
| Net assets | 94,596 | 94,596 |
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|
| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Investments | 100 | 100 |
| Current assets | 91,828 | 91,828 |
| Creditors less than 1 year | (19,235) | (19,235) |
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| Net assets | 72,693 | 72,693 |
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17. Related Parties
Bursaries of £30,900 (2022 - £36,450) were payable to the Dyslexia Teaching Centre Limited, the wholly owned subsidiary. At 31 July 2023 Dyslexia Teaching Centre Limited owed £24,077 (2022 - £50,411) to the charity and was owed £25,745 (2022 - £18,395) by the charity. Donations from the trading company to the charity in the year amounted to £24,077 (2022 - £50,411).
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The Dyslexia Teaching Centre
Management Information
Year Ended 31 July 2023
The Following Pages Do Not Form Part of the Financial Statements.
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The Dyslexia Teaching Centre
Detailed Statement of Financial Activities
Year Ended 31 July 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 29,200 | 17,466 |
| Donation from Dyslexia Teaching Centre Ltd | 24,077 | 50,411 |
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| 53,277 | 67,877 | |
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|
| Investment income | ||
| Bank interest receivable | 598 | 34 |
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|
| Total income | 53,875 | 67,911 |
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|
| Expenditure | ||
| Grant funding activities | ||
| Grants given to DTC Ltd | 30,900 | 36,450 |
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|
| Support costs | ||
| Accountancy fees | 966 | 480 |
| Bank charges | 106 | 96 |
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|
| 1,072 | 576 | |
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|
| Total expenditure | 31,972 | 37,026 |
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|
| Net income | 21,903 | 30,885 |
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