Charfty r•grstration numbèr 1174327 SEN OPPORTUNITIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
SEN OPPORTUNITIES LEGAL AND ADMINISTRATIVE INFORMATION Trustses NK*olas Briggs Mary Btiggs Rmthard Nomian Roger Legate OBE Charity number 1174327 Principal address FKst Fhjor. S1310 Hwse Lower Ro&1 Chorlew)d Hertlotdshire United King(fv 35LH Independent examlner N$ Corden Summers Morgan Sheraton House Lower Road Herts D3 5LH
SEN OPPORTUNITIES CONTENTS Pa98 Trustees, report Indepèndent examinerfs Tep)rt Statemant of financaal aclivrfies 881ance 3heet Not85 lo the financaal statements 6-12
SEN OPPORTUNITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The charity was incxjrporaled and regi5tefed wrth the Charity Commission on 21 August 2017 and Ihe Tru$lge8 present their report and financial ststements for the year ended 31 Dmber 2023. The finanual stslements have been prepared in accordance wilh the accounting poliaes set out in note 1 to th& financi815talementS and compty 1h the ch8nVs goveming document, the Charities Acl 2011 and'Accounting and Rèporting by Charibès". Stat8m8nt of ReCM[r¢nded Prac11 applicable to (harities paring thr aOuntS in accordance vriih the Finanaal Reporting Standard appliile in the UK and Republic ol Ireland IFRS 1021. (ag BmeThJed for acctsJnlirwJ periods commswxng fr(xn 1 Jarwary 20161. Oblectlves and aetivltles The tharTty's objects 8Te lo a(fv8nce the education lor the pubh'c benefft of persons under the age of 25 who have special educati¢)nal needs through educab'onal prov¢sion, cwJpatw)nal therapy. speech and language therapy, physiotherapy and addrtional help. care and as51$lan whth they may require to assist wilh their leaming and developmenL The wliaes 8(k)pted by Ihe tharty duwing the year have been in fvrtheran(e ofthese objects, and the trustees have paid due regard to guidance issued by the Charity commissi¢ in decKling what adivibes the tharity should und&lake. Achlevements and perfomiane• The th8rty conts.nued its misson lo provh finanaal supp(rft to opJanisations supporiing SEND syovision and support fair access to apwlpiiatè provi&on for all SEND pupils. The thaiity comett rts colFatatyn wilh the tharity IPSEA Ilndependent SuFPOrt of Special Education Advi) to ov¥Je Support Iiaining lor SENCOS (sp Education Needs Ctrordinatorsl whi(h will benefft a e number of pupils across a range ol schods. The S(xJal Retuffl on Investment proieca template has been shared ll a number of other schods with a view to extending its usefulness to other kxovi%ons. The tharty cinUeS to work wth Chailey Heritage Fcjnd0n. a ¢harty we have Kl&nffièd 8$ making use of our support and wrth an interest in susiainable funding models. We are cuvrently T&viSng the tribunal bursary ncept which would pfovide financlal support to parents appealing to L[ Aulhorities around plai£ment and EHCP. Thè tharity prts¥ided financial support to Irwin PAitchel soli(4tors that was seekiThJ leave to make an appeal to the Supierne Court to darify the jurisdidK)n of the LcKal Govemment Ombudsman (LGOI over local authorrties. The appeal was not successful, but Twstse$ supported a( because a sUssl aFveal coukl have had a signthcant and long tem impact on the abilty to W local aulhorities lo - sow*lhing the charity has identified as a current issue. The tharty is tIVelY seeking Trustees.
SEN OPPORTUNITIES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Flnan¢lal revlew As a young chartty, the trustees. polcy is to res•Nes to make tho tharrty fin?nryaNy Sustainable and to develop and progress suitable d)arilae adwities ttw wsh to supTL Wilst some athities were supported during the period ofthese finan¢ial ststements. chwitst4e exp&vJrture * lik¥ty to be in the futwe. The trustees, reserves poly is therefore to onty expend a maxinum of SO% of Ihe tharty's cumuLqb"v8 income unlil the charity finds a stable operatiTrJ nThJdel in full supwt of the obieds for whith it was uealed. This stsbilisation 13 exFded lo take Sever years after the tnjstees will kx& to reVe the ServeS kxAicy. Investrnent of free reseryes 15 UEKlerlaken ty the Iwstees in aCcOrts with the charitys irN8sbnent policy to At 31 December 2023. the level UF avaiwjle reserves lkl was £118.303 12W2.' £157.46n, all of wlich wwe unrestiided futvJ$. The trustees have 8ssessed the rnajor risks to whith the tharity is exFOSed. and are sa115fd that systems are in ace to mitvJate exposure to Ihe Ma1 risks. Structurg, gov•rnane• and manag•m•nt The charity is a charitable IrorpOraled organiSat ccrf)tr(thd ty its 9)VemK thxuThnt datod 18th August 2017. Tho tharity number 1174327 and the wincipal addre55 is Sheraton House. LcA¥er Road. Chorleyb¥oc#J, WD3 SLH. The trustee5 vtho seThed during the y arKI up to the d81e of 99rti}re of the finarKial Statern were.. Ntholas Briggs Mary BrKJg$ Rthard Norman Rogèr La9ate OBE Apart from the first trustees of the ¢8nty, e¥&ry Injslee rnt be appoinled by a resolLrtion passed at a property nvened meeting of thè trusteès. In sdeclirwj In(fNiduS for app(xnlmenl 88 trustees, the nv•V trustees must have regard to the skills, kncwledge and experienr£ needed the effe(JJve administrat of the c*arty. New trustees are prowded wilh a copy of thè gO¥eMN documant aml latèst ffinarvig18laternents anNal report by ffans of dLKtion and trainin9. None of the trustees have any beneficia interest in the dwrity. Tha trust, report was appro¥ed by Board ofTwstees on ................................. Nleholas Briggs Truslee
SEN OPPORTUNITIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SEN OPPORTUNITIES I report lo the chartty trustees on my exafflinalion of the financial statements of SEN Oppcthnthes {the charity) for the year ended 31 De¢xmber 2023, which Set out on pages 4 to 12. Responsibilities and basis of report As the trustees of the chanty you are responsiNe for the prepara11 of ihe finan¢ial statements in a(xx)rdance with the requirèments of the CharibesAd 2011 {the 2011 Act). I report in respecl of my examinaity)n of the tharills firwiaal statements carried out under sedic4) 145 of the 2011 Acl. In carying out my examinatiorTr I have lollowed al thè applrable Direth"ons gNen by the Charity Cornmission under sectM 145lSllb) of the 2011 Act. Indtptrndent examlnerfs ststement I have completed my examination. I confirm that rl) maiters have o)me to my attenlioTr in connedion with the examination giving cause to believè Ihat in any Matla1 respe¢: accountirrfj recfflls were not kept in r8sFed of the thity as reqwred by seth.on 130 of the 2011 Act," the financial statements do not accord wilh those records,. or (he finanu81 statements do Mt compty with the applicable requirements (xming the fomi 8nd content of accounts set out in the Charibes (AOUnts and Reports) Regulations 2LX)8 other than any requi¥emenl that the account5 give a tnje and fail view whK* is Th)t a rnalter 0)nder1 as part of an independent examination. I havo concems and have come OsS no Ot matters in conre¢lion wilh tha exary¥nation to which attention shouky be drawn in this report in oth to én8bte a proper understanthng of the finanrA81 slatements to be reached. Nitholas CordenACA SurnmeTS Morgan Sheraton House Lower Road Chodeyw¢)od Herts D3 5LH
SEN OPPORTUNITIES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unr•striettrd Unrestrict• funds funds 2023 2022 Donatrjns and legactes Investrnent5 234 Total incom# 946 279 Raising funds 275 309 Ch8tilatAe 8¢tNitse$ 44,653 21,8 Totsl rn¥oure•s èxpènded 44.928 22,199 Net gains on investments 11 4,818 119,8451 Nèt Incomlaxp•ndItur0j & movement in funds (39.1641 141,7651 Fund balances at 1 January 2023 157.467 199,232 Fund balanc•s at 31 Doeémbor 2023 I18,3 157,467
SEN OPPORTUNITIES BALANCE SHEEr ASAT31 DECEMBER 2023 2023 2022 Fixed assets Investments 13 14 91.OV2 86.270 91.082 91.270 Current assets Cash at bank and in hand 28.661 69,077 Cr•dltoYs: amounts lalllng wlthln y•ar 15 (1,440) 12.880) Net current assets 27,221 66,197 Total ass•ts E•M curr•nt Ilabllltl•s 118.303 157.467 In¢om• fvnds Unrestr¥Xed funds 118.303 157.467 118,303 157.467 The finanaal st¢rrths aFvove(I by the Tntees ......................... Nich Trt a$ Bri99S
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2023 Accounting polici Charity infonnation SEN Opportunibes is a charitable irwrated organisation (CIO) registefed with th8 Charity Commtssion. Its prinapal address is detailed thin the legal and administratNe section of the accounts. 1.1 Accountlng eonventlon The financsal Ststemerrts h8¥e been wep8rwl in wxdarKe with the thaiivs goveming doCut. the Charities Act 2011 and "AloUnt1179 and Rep(Nts"ng by Charrties.. Statement of Rery)mmended Pr8dice applicable to charities preparing their ac£ounts in aco)Tdance thè Finanual R8rtIng Standard applicable in the UK and RepuLAic of Iieland IFRS 102). {as annded for aixounb.ng pèriods commencing from 1 January 2016}. The chanty is a PLtblic Benefft Entity as defined by FRS 102. The charty has taken a0antage ofthe prov$ in the SORP lor charibes appI.n9 FRS 102 Updats Bulletin 1 not to prepare a Statement of Cash FI$. The ffinana1 statements have IkPart from Ihe Charilies (Bnts and Reports) RegulatKJns 2008 onty to the eytent qUIred to provKle a twe and fair vw4. This deparlure has invdved lollow¢ng the Statement Re(x)mmended Pra(Xice for charilies apklying FRS 102 rather than the version of the Statement of RecAJmmended Prath"r which is referred to in the ReguWion$ t)ut whith ha5 gnce been wittidrawn. Thè finanaal srn1$ preparèd in stèrfirvJ. 1$ thtr fundional cwrerq of the charity. Monetary amounts in these financial statements are rourHled to the neaEst £. The financi ststemelts have been prepared under the historical cost ConvèntiL {modified to inthde inveslrnent propee$ and certain ncial inslruments at fair value). The winctrp81 acujunting policies adopted are set out bel. 1.2 Golng concern At the time of approviw the finanraal str1erts. the twstees have a reasonable expecaation that the tharity has adequate reSrS to contynue in oper8tionaE existenc2 for Ihe foteseeabbe ftjture. Thu5 the trtee$ conlFnue to adopt the goir¥J ¢x)ncem basis of 8c(x)unling in prep81ing the ffinan¢i81 ststemenls. There are no m8lerial un¢xrtainlies 8lK)ut the (ariVs 81xty lo conlinue as a wing concem. 1.3 Charitable funds Unrestricted fund5 are *dIlab fot use at the dssctelion of the tru5te8s in fiJth8rSn ol their charitable (A)jectNes. 1.4 Incoming regources Income is recognised when the charty is galty ented to it after any perfofmanr2 colklrtions hav8 been met, the amounts (sn be asUre{l relkabjy. and rt is wobabte that ITr(18 be I1¥1. Cash donations are recognised on rlPt. Other donations are recognised once the charity has been notified of the donalion. unless perf0mlan CA)ndonS TequiTe deferral of the amount. Income tax recoverable in Telalion to donations received der Gfft Aid or deeds ofcovenant is recrynised at the time ofthe donation.
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 AccountSng pollei•s {Continuedl 1.5 Resou8 expended Expenditur6 is recA)gnised ore there is a legal or constnKtwe ObgatIOn to transfer ecOrK)M benefft to a third party, rt is probable thal a transfer of econom beneffts 11 be required in setllement, and the amount of the obligat¥)n (n b6 measured reliatty. Expendrture is dasstfied by 8CtNity. The $1$ of each actNity are made up of the total of dii&l cost5 and shared costs, including support tx)sts Invoy in undertaking each aclivty. Direct costs attrlbUtate to 8 single activty are allocated direclty to that actwrty. Shared costs whth ujntribule to more than one activity and support o)sts which are not attributatlè to a a¢tivity are apwtioned betyen those activrtEs on a basis consislenl with the Ltse ol restyjrces. Expendituie is recognised the ao7uals basis. Al Slypcffl and g)vemance CLJsts are allocated to the primary Iharitable acbMty of SEN Opportunibes. Irrecoverabk VAT is charged against the category of Te50urces expende(I for whith il was incurred. 1.6 Frxèd asset inv8Stments Fixed asset investments afe inallY maasUd at trarwon price exduding transaction cx)sts, and are subsequently measltred at fair value at each rep(thg date. Changes in tsir value are recognised in net IncA)mel(expenditurel for the year. Transacaion costs are expens&J as inujrrèd. 1.7 Cash and cash equlval•nts Cash and cash equantS ilude cash i) hand, (kposrts hekl at (xm wrth b8nks. other Shotern liquid investments wth original maluiities of three or kss. and bank overdrafts. Bank overdrafts are shown wthin borrowin95 in rrent liabilities. 1.8 Baslc financial assets Basic finanaal assels, vthith indudè debtims arKI cash and bank banCeS, are initkalty measured at transaction wce induding transaclion costs aThJ a subsequenlty ca1ed at amortised o)st using the effective interesl method unless the arrangement C($t1bJtes a finanung where the Iransaction is measured 81 the present value of the future receipts discoLmled at a rnawket rate of interest. Firon(ial assets cl8ssffi8d as receivable within one year are not amorbsed. Don#tlon$ and legacies Unrestricted Unrestriced fLmds 2023 2022 Drmati5 and gifts 45
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Investments Un¢t¢d UnTestriGled funds lund$ 2023 2022 Income from listed investments Intefest feceNable 72 162 234 Rwsing funds Unrestrlctod UNestricted fvnds fvnds 2023 2022 Investment Man4grYnt F 275 275 Charitable tIvie9 Unrostrlcted Unrestricted funds funds 2023 2022 Grant funding 0farthv8 (see note 8} 42.740 20,000 SupF)rt costs (see note 61 Governance costs (see note 6) 473 450 1.440 44.653 21,890
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs Support Gov•man¢• eosls 2023 2022 Support Costs 473 473 450 Independent examination fees 1,440 473 1.913 1,890 Analysed betsyeen Charitable actIveS 473 1,913 1,890 Govem8nce &1$ indude payments to the ac£ountarrt5 of £1.440 {2022.' £1.440) for independent axaminab.on arKI auJ)untsncy fees. Nèt M0m#nI In fvnds 2D23 2022 The nel movement in fund¥ is stsled after ¢thing". Fees payaL4e for the indeperHlent examination of the chayivs finarKi statements Grants payable Unrestricted Unre5ts>cted funds fund 2023 2022 Grants to institLrtions-. Strive Cafe Chailey Heritage Envoy Partnership Ir Mitchell IPSEA 10,000 10,0(X) 7,740 10,000 10,OLX) 10,000 42,740 20,000 Trustees None of the trustees lor any persons conneLled wth them) Fryed any remunerabon or benefits from the charity during the year. 10 Employe The were no emFloyees during the year.
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 11 Net gains on ilwtMenls Unr•strlctsd Unrestricted funds funds 2023 2022 Revaluatiw of investments 4,818 {19.8451 12 Taxation Thè tharty is exempt from taxati on its adivitEs because ils irorne ss appl tor tharitable purposes. 10-
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 13 Flxed •8set Inveslments Listed investments Cash In portfollo Total Cost or valuatlon At 1 January 2023 Valuation changes M8nagemenl fees Disposals 74,140 4,818 12.130 86,270 4,818 12751 1275) 12.583 (12.3141 At 31 December 223 24.438 91,082 CarrySng amount At 31 Drnber 223 24.438 91,082 Al 31 Dfflber 2tr22 74.140 12.130 86,270 14 Programme related Investm•nts Al 1 January 2023 Amounts converted to grant At 31 DeCnr 2023 5,000 15,0001 The Charty made a stitsal investrrwt loan lo Strive Cafe in 2021. The Trustees were satisffie(I that in m8king this h)an it constituted a prOgrammrelated inveslment that further the objecls of the Chaiity. The loan was measured at historic St. No interest drged on the kon. Wthin the year-ended 31 December 2023 the Trustees have de(>LSed to convert the loan into a grant. 15 Creditors: amounts falllrwj duè within one ywr 2023 2022 Accruajs and delerrod w)¢om 2,880 11
SEN OPPORTUNITIES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 16 Unrestricted funds The unrestricted funds of Ihe charity comprise the unexpended balances of donations and grants which are not subject 10 5pe(ific conditions by donors an¢J grantors as kj how they may be used. In addition. unrestricted funds include irkcome and net gains from investments. At 1 January IrKomlng R•s¢)urc•s 2023 resources ended Gains and losse¥ At31 December 2023 Gene1 fund5 157.467 (44,928) 4.818 118,303 Prevlous year: At 1 January Incoming Resources 2022 fe$our$ eynded Gains and At31 losses Dèc8mb•r 2022 General fvnds I.232 279 122,199) {19,8451 157,467 17 Related party traIaCtionS tring the year there were no related party tranSaCbCS. 12-