Charity Registration No. 1169363
PARENTS IN NEED
Annual report and unaudited financial statements
For the year ended 31 December 2020
PARENTS IN NEED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | J Burgess |
|---|---|
| C Bailey | |
| G Pritchett | |
| P Owen | |
| Charity number | 1169363 |
| Principal address | 20 Seymour Road |
| Wimbledon | |
| London | |
| SW19 5JS | |
| Independent examiner | WSM Advisors Limited |
| Connect House | |
| 133-137 Alexandra Road | |
| Wimbledon | |
| London | |
| SW19 7JY |
PARENTS IN NEED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
PARENTS IN NEED
TRUSTEES' REPORT
For the year ended 31 December 2020
The trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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 2019)".
Objectives and activities
The charity's object ive s are :
-
To advance the education of people under the age of 25 with special educational needs, by providing and assisting in the provision of information and advice to them, their families and carers.
-
To relieve financial hardship among parents, guardians and persons caring for a person with special educational needs by the provision of support, advice and information for those responsible for their care.
-
To preserve and protect the health of those caring for people with special educational needs within the family or home by offering practical assistance and support and such other services as the trustees shall deem necessary, with a view to meeting the educational needs of their children and improving their living conditions.
The aim of the charity is to finance specialist reports to enable children with special educational needs to access an appropriate education. Independent reports provide the parent with the necessary evidence required by the local authority before a placement is agreed. We listen to parents of children with Special Needs and provide a service to those who do not have the means to pay for the specialist advice and reports that are required by the Local Authority.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Public Benefit
Financial help will be given to parents, via professional practitioners who assess and report on the specific educational needs of disadvantaged children which will in turn help the whole family. In the long term society will benefit as many of these children will be able to take a worthwhile place in society without needing extra funding.
Activites
Our main fundraising activity took place in January 2020. This was organised by our volunteers.
Achievements and performance
Achievements during the period were:
-
Funded a number of assessments to help families who were facing tribunals.
-
Increased our funds through fundraising events, grants and donations.
Financial review
The financial review covers the financial year ended 31 December 2020. Income for the year was £107,191 (2019: £65,936).Total expenditure amounted to £58,627 (2019: £49,488) for the year, giving a net income of £48,564 (2019:£16,448).
- 1 -
PARENTS IN NEED
TRUSTEES' REPORT (CONTINUED)
For the year ended 31 December 2020
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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.
Since April 2020, the charity along with the rest of the country, responded to the Government’s Covid 19 pandemic restrictions. At the time of writing ( October 2020), it is clear that the charity has been impacted in 2020 on organising events in 2020 and possibly 2021. Trustees continue to monitor the impact and update plans accordingly. As disclosed in note 1.2 of the financial statements trustees consider it appropriate to prepare thee accounts on a going concern basis.
Plans for the future
Plans for the future are:
- To continue to apply for grants and continue to fund families who need support to get a disabled family member the most appropriate education for them.
Structure, governance and management
The charity is a charitable trust registered on 26 September 2016 with the Charity Commission.
The trustees who served during the year and up to the date of signature of the financial statements were:
J Burgess C Bailey G Pritchett P Owen
There are at least three trustees on the board. Apart from the first trustees, every trustee is appointed for a term of five years by a resolution of the trustees passed at a special meeting.
In selecting individuals for appointment as trustees, the Board of trustees will consider the skills, knowledge and experience needed for the effective administration of the charity.
The new trustee, on his or her first appointment will receive a copy of the trust deed and any amendments made to it and a copy of the charity's latest report and statement of accounts.
None of the trustees ha ve any beneficial interest in the charity.
During the year, the Board of Trustees managed the charity and decisions were made collectively.
We thank our volunteers who provide invaluable support to our fundraising events.
The trustees' r eport was approved by the Board of Trustees.
C Bailey
Trustee Dated: 18 November 2021
- 2 -
PARENTS IN NEED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PARENTS IN NEED
I report to the trustees on my examination of the financial statements of Parents in Need (the charity) for the year ended 31 December 2020.
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 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 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 financial statements to be reached.
Wendy Patterson WSM Advisors Limited
Connect House 133-137 Alexandra Road Wimbledon London SW19 7JY
Dated: 18 November 2021
- 3 -
PARENTS IN NEED
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2020
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2020 | 2019 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 85,232 | 56,011 |
| Other trading activities | 4 | 21,959 | 9,925 |
| Total income | 107,191 | 65,936 | |
| Expenditure on: | |||
| Raising funds | 5 | 3,257 | 2,698 |
| Charitable activities | 6 | 55,469 | 46,790 |
| Total resources expended | 58,726 | 49,488 | |
| Net income for the year/ | |||
| Net movement in funds | 48,465 | 16,448 | |
| Fund balances at 1 January 2020 | 77,934 | 61,486 | |
| Fund balances at 31 December 2020 | 126,399 | 77,934 |
The statement of financial activities includes all gains and losses recognised in the year.
All funds are unrestricted.
- 4 -
PARENTS IN NEED
BALANCE SHEET
As at 31 December 2020
| Notes Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets Income funds Unrestricted funds Total charity funds |
2020 £ 363 129,190 129,553 (3,154) |
£ 126,399 126,399 126,399 |
2019 £ 415 80,839 81,254 (3,320) |
£ 77,934 77,934 77,934 |
|---|---|---|---|---|
The accounts were approved by the Trustees on 18 November 2021
C Bailey Trustee
- 5 -
PARENTS IN NEED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2020
1 Accounting policies
Charity information
Parents in Need is a charitable trust registered on 26 September 2016 with the Charity Commission (charity registration number 1169363).
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have undertaken an assessment of the adequacy of the resources available to the charity and have taken in to account the impact of the coronavirus on the charity as well as the expected support to businesses available from the government measures in place through the period of disruption caused by coronavirus. The trustees have a reasonable expectation the charity has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
- 6 -
PARENTS IN NEED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2020
1 Accounting policies
(Continued)
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
-
Costs of raising funds comprise the costs associated with attracting voluntary income 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.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
1.6 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
- 7 -
PARENTS IN NEED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2020
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted funds Donations and gifts 4 Other trading activities Fundraising events 5 Raising funds Fundraising and publicity Staging fundraising events |
2020 2019 £ £ 85,232 56,011 Unrestricted Unrestricted funds funds 2020 2019 £ £ 21,959 9,925 Unrestricted Unrestricted funds funds 2020 2019 £ £ 3,257 2,698 3,257 2,698 |
2019 £ 56,011 |
|---|---|---|
| 2,698 |
- 8 -
PARENTS IN NEED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2020
6 Charitable activities
| Unrestricted funds Expenditure on: Specialist and assessment fees Share of support costs (see note 7) Share of governance costs (see note 7) |
2020 £ 45,925 7,724 1,820 55,469 |
2019 £ 28,754 16,446 1,590 46,790 |
|---|---|---|
The charity received donated services during the financial year. The value has not been included in the accounts. Services included from its volunteers for the fundraising and administration for the charity. The school hall has been given free of charge for the events.
7 Support costs
| Support costs Governance costs £ £ Marketing 6,825 - Website 307 - Stationery - - Insurance - - Sage subscription 144 - Insurance 349 - Bad debt write off 99 - Accountancy fees - 1,820 7,724 1,820 Analysed between Charitable activities 7,724 1,820 |
2020 £ 6,825 307 - - 144 349 99 1,820 9,544 9,544 |
2019 Basis of allocation £ 13,300 Direct 2,529 Direct 32 Direct 7 Direct 144 Direct 434 Direct - Direct 1,590 Direct 18,036 18,036 |
|---|---|---|
Governance costs includes an accrual for the independent examiner's fees of £2,0 00 (2019: £ 1,800).
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
No expenses were paid for the trustees apart from legitimate costs for the charitable fundraising activities.
- 9 -
PARENTS IN NEED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2020
9 Employees
There were no employees during the year.
| 2020 | 2019 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
10 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992. No tax charges have arisen in the Charity.
11 Debtors
| 11 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Prepayments and accrued income 12 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
2020 £ 363 2020 £ 934 2,220 3,154 |
2019 £ 415 |
| 2019 £ 1,484 1,836 |
||
| 3,320 |
13 Related party transactions
There were no disclosable related party transactions during the year .
- 10 -