AE)INGDONCAROUSEL Registered Charity: 1177322 Trustees, Annual Report & Accounts st for the year ending 31 July 2024
Reference and Administr*ive Details The Trustees present their report together with the financial statements of Abingdon Carousel for the year ended 31 July 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" IFRS1021 in preparing the annual report and financial Statements of the Charity. Charlty's Princlpal Addre5S: The Abingdon Carousel Family Centre Caldecott Chase Abingdon-on-Thames OX14 5GZ Trustees Sharron Jenkinson Chair Penelope Clover Honorary Fundraising Trustee Mark Rusher Treasurer Ruth Hawkins Lead SafeEuarding Trustee Cllr Samantha Claire Bowring Iresigned 9 July 20241 Emily Rawle lappointed 13 May 20241 Lesley Witts Iresigned 16 January 20241 Kathryn Devine (appointed 11 March 20241 Jennifer Reading Deborah Lymn Michael John Centre Manager Georgina Hicks Iresigned 26 July 20241 Accountants (Payroll) Wenn Townsend 10 Broad Street Abingdon Oxfordshire OX14 3LH Independent Examiners Positive Community Finance Ltd 7 Scholars Rise Stokenchurch Buckinghamshire HP14 3FL Structure, Governance and Management The charity was incorporated as a charitable incorporated organisation ICIOI on 26 February 2018 and is governed bv a Foundation Constitution updated on the 5 October 2022. Trustees are selected and voted on to the ljoard by existing Trustees in a quorate meeting.
Oblertives and Activities Abingdon Carousel Family Centre is a charity which was set up to run services in the former county COL¢ncil funded South Abingdon Children's Centre. When OCC withdrew funding, Carousel was incorporated as a charity and is now in its fourth year of offering services to local families. Carousel offers a variety of recreational, care, educational and adult development seryices both directly to the public using paid employees and volunteers and through making the building available to community focussed partner organisations. All Carousel activities are free to families although we encourage small donations where these can be afforded. Service priorities are those which benefit families with children aged 0-5 years although other family and community service5 are also offered under an umbrella approach that aims to be relevant to the community as a whole. Carousel is an inclusive organisation that aims to reflect the views and needs of our families. Speclflcally, Cqrousel alms to.. Provide a range of facilities and pro8rammes, through the provision of a safe and stimulating space, for children to socialise, learn and play and for parent51 carers to receive guidance and support. Support parents / carers in developing skills and strategies for effective parenting. Enable parents / carers to engage in a range of opportunities to meet other families, undertake personal development activities and become active members of the community, so reducing isolation. Provide a community hub from which partner organisations can offer their setvices. Pfovide information and signposting so that families can access seiceS across the wider community. Trustees have had regard to the guidance issued by the Charity Commission on public benefit. Achievements and Perfomiance Our focus this year has been on consolldation of existing good practice and extending and improving the quality and range of services on offer. Drop-in 'Stay and Play, sessions are held on five days of the week (including the very popular Saturday Clubl and are frequently full. Around 500 families are now registered at Carousel, compared with 150 two years ago. We also now offer dedicated monthly SEND sessions. As well as sessions for families, we have also continued to develop our parent / carer support and development programme. Course5 have been offered under the Family Links umbrella and we have worked with partners to offer 'Communication through Play, courses and a 'School Readiness Course,. In addition to our own sessions, we work with a range of partners, and this extends the use of the centre. The Health Visitors offer regular Sessions, and we have been happy to host Holiday Play Schemes for young people with disabilities. We have collaborated with Oxfordshire Play Association to participate in community play activity day5. As important as the specific sessions on offer are the extent to which staff have worked with individual families and County Council and community teams to advise and support, especially in times of crisis. This has ranged from individualised support for parents struggling with the bureaucracy associated with SEND issues to supporting emergency rehoming needs. Carousel's 3-year Improvement Plan12023 - 20261 focuses on three priority areas.. l. Flnance Ensure that successful fvndraising and efficient financial manaBement lead to a balanced budget and robust reserves
- Leadership and Management Develop systems that ensure legal compliance and best practice in leadership and management
- Provislon and services Ensure that the quality of provision and services is of a consistently high quality. Sessions for children reflect Early Years Foundation Stage best practice and other services meet the expressed and identified need5 of our users. The focu5 in Year One of the Plan12023 - 241 was on immediate needs with regard to ensuring legal compliance in all aspects of the management and running of the Centre, fund-raising and financial efficiency, manager, staff and trustees, development and the development of partnerships. Trustees evaluated progress through the Improvement Plan in July 2024 and concluded that excellent progress has been made in all aspects, mainly due to inspirational and effective leadership by the manager and the high quality of the stsff team (ably supported by committed and skilled volunteers). The theme for year two of the plan is on 'Consolidation' with specific focus on ongoing improvement of provision and services (both through our core offer and effective partnershipsl and ensuring that robust fund-raising leads to a balanced budget and increased reserves. At the time of writing, there are signifitrdnt stresses affecting forward planning. Caldecott School has relinquishe(I responsibility for provision of services to Carousel and we are currently in discussion with Oxfordshire County Council lour landlords) regarding the renewal of the lease an(1 agreement of service charges. Our Manager, Georgina Hicks, has moved on to a new post to advance her career and decisions are shortly to be made regarding Cruiting a new manager. For the interim period, staff and trustees are taking on additional leadership and management responsibilities. Despite these pressures, morale remains high with staff, volunteers and trustees fully committed to ensuring that Carousel remains at the hub of its communityi providing essential and highly valued services to families across Abingdon and beyond. Financial Review The unrestricted deficit for the year ended 31 July 2024 was £499. The Trustees are pleased that given the cost-of- living crisis the charity ha5 been able to show a breakeven position and forecast a further breakeven position for the year ended 31 July 2025. Considering the charity's risk profile which indicates that the main financial risk relates to the dependency on the annual Abingdon Town Council grant of £36,750 and general fundraising. The Abingdon Town Council grant is received in advance Restricted funds received in the year amounte(I to £35,448 and amounts unspent at the 31 July 2024 amounted to £25,392. A gront of £16,824 was received In the year which was a 2-year Awards for all to partly cover Saturday Club costs. The charity is in discussions with their landlord Oxford City Council concerning the renewal of the lease for the Family Centre. Abingdon Carousel has the str¥Jctural inability to make sudden cost savings on large expenditure items such as rent and service charges, the Trustees have determined that AbinEdon Carousel should hold reserves which, in a funding crisis, would allow the organisation to carry on delivering setvices for 12 months whilst new major grants a applied for and which allow time and funds for longer term cost-reduction plans. Therefore, the Trustees aim to keep 6 months running costs in reserve amounting to approximately £44,C(JO. The Abingdon Town Council grant is received in advance so at the 31 july 2024 further reserves are required.
Declaration The trustees declare that they have approved the trustees, report above. Approved by the board of Trustees on 13 January 2025 and signed on its behalf by: Sharron Jenkinson, Chair of Trustees
Independent examlnerfs report to the trustees of Ablngdon Carousel I report to the trustees on my examination of the accounts of Abingdon Carousel Ithe Trust) for the year ended 31" July 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charlties Act 20111'the Act'l. I report in respect of my examination of the Trust'5 accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs 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 re5pect= accounting records were not kept in respect of the Trust as required by section 130 of the Act; or the accounts do not accord with those records. 3. the accounts 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. Lee Mathers MIAB, MCIOF Icertl Positive Community Finance Ltd 7 Scholars Rise Stokenchurch Buckinghamshire HP14 3FL 17
ABINGDON CAROUSEL STATEMENT OF FINANCIAL AcfiviTIES FOR THE PERIOD ENDING 31 JULY 2024 Restricted Funds 2024 Unrestricted Funds Total Funds 2024 Total Funds 2023 2024 Notes Incoming resources Donations and legacies Charitable activities Other trading activities Investments Other Totsl IncominE resource5 35,448 56,320 16,378 91,768 16,378 77,529 15,058 476 476 89 2,272 75,446 2,272 110,894 35,448 92,676 Resources expended Raising funds Charitable activities Other Total Resources Expended 196 196 91,529 439 76,945 15,976 75,749 15,976 75,945 91,725 77,384 Net incomel{expenditurel 19,472 14991 18,973 15,292 Reconciliatlon of funds Total funds brought forward 8,638 50,207 58,845 43,553 Transfers between funds 12,7181 2,718 Total funds carried forward 25,392 52,426 77,818 58,845 The Statement of financial activities includes all gains and losses in the year. All incoming resources expended derive from continuing activities.
ABINGDON CAROUSEL BALANCE SHEET AS AT 31 JULY 2024 Restrirted Funds 2024 Unrestricted Funds 2024 Total Funds Total Funds 2023 2024 Notes Flxed Assets Tangible assets 8,369 8,369 8,369 8,369 10,591 10,591 Total fixed assets Current Assets Debtors Cash at bank and in hand Total current assets 4,864 52,602 57,466 4,864 77,994 82,858 1,782 54,424 56,206 25,392 25,392 Llabllities Creditors.. amounts falling due within or)e year Net current assetsl{liabilitiesl Total assets less current liabilltles 13,409 44,057 52,426 13,409 69,449 77,818 7,952 33,272 58,845 25,392 25,392 Total net a55ets or Ilabllitie5 25,392 52,426 77.818 58,845 Funds of the Charity Restricted income funds Unrestricted funds 25,392 25,392 52,426 77,818 8,638 50,207 58,845 52,426 52,426 Total fund5 25,392 Approved by the board of Trustee5 on 13 January 2025 and signed on its behalf by- Sharron lenkinson, Chair of Trustees
ABINGDON CAROUSEL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31 JULY 2024 l Accountlng Polities General information and basis of re aration The charity is a Charitable Incorporated Organisation ICIOI, incorporated in England and Wales. The addre55 of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities is the delivery of children and family services from the building. The charity constitutes a public benefit entity as defined by FRS 102. 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 Reptjblic of Ireland IFRS 1021 issued on 16 July 2014 las updated through Update Bulletin I published on 2 February 20161, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011, and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention. modified to include certain items at fair value. The financial statements are presented in Sterling which is the functional currency of the charity and rounded to the nearest £1. The Significant accounting policies applied in the preparation of these financial statements are Set out below. These policies have been consistently applied to all years presented unless otherwise stated. Fund Accountin Unrestritted funds are funds which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted fund5 are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The c05t of raising and administering such funds are charged against the specific funds. The aim and use of each of the restricted fund5 is set out in the notes to the financial statements. Incomin Resources All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accvracy. Resources Ex ended All expenditure is accounted for on an accruals basis and has ljeen 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.
ABINGDON CAROUSEL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31 JULY 2024 l Accountlng Policies Icontlnued) Tan ible and Intan ible Fixed Assets Tangible at)d Intangible fixed assets are stated at cost lor deemed costl or valuation less accvmulated depreciation and accumulated impaimient losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depieciation 15 provided on all tangible and intangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Computer equipment.. over 3 years Leasehold improvements.. over 5 years Garden project.. over 3 years Database development.. over 3 years Sensory room and equipment.. over 3 years Storage shed: over 3 years Debtors and creditors receivable able within one ear Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instrument5 are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it 15 recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Goin Concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorlsing these financial statements. The budgeted income and expenditure is sufficient with the level of resee$ for the charity to be able to continue as a Eoing concern. Jud ement and ke sources of estimation uncertaint 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. io
ABINGDON CAROUSEL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31 JULY 2024 Z Donatlons and Legacles Restricted Funds 2024 Unrestrirted Funds 2024 Total Funds 2024 Total Funds 2023 Abingdon Town Council Other Grants Donations from Individuals & Groups 36,750 10,457 9,113 56,320 36,750 45,905 9,113 91,768 50,CK)O 9,022 18,507 77,529 35,448 35,448 3 Total Resources Expended Restricted Funds 2024 Unrestricted Funds 2024 Total Funds 2024 Total Funds 2023 staff Costs Facilities Management Professional Services Depreciation office Costs Service Delivery Costs Fundraising 12,768 2.792 41,196 20,143 1,026 8,106 4,522 564 192 75,749 53,964 22,935 1,026 8,106 4,522 980 192 42,625 19,823 828 7,050 3,778 2,841 439 416 15,976 91,529 77,384 Net 5ncoming resources for the year This is stated after charging= Total 2024 Total 2023 Independent Examination other Accountancy Setvices Depreciation 450 576 8,106 9,132 425 403 7,050 7,878 Staff Costs Total 2024 Totsl 2023 Salaries Training and Recruitment 53,964 192 42,088 587 54,156 42,625 li
ABINGDON CAROUSEL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31 JULY 2024 4 Tangible Fixed Assets Database Development Leasehold Improvements Equlpment Total Cost At 1st August 2023 Additions Disposals At 31" July 2024 5,935 9,197 9,809 5,884 24,941 5,884 5,935 9,197 15,693 30,825 Accumulated De reciation At 1st August 2023 Charge for the year Disposals At 31st July 2024 1,978 1,979 5,971 2,108 6,401 4,019 14,350 8,106 3,957 8,079 10,420 22,456 Net Book Value At 31st July 2024 1,978 1,118 5,273 8,369 At 31st July 2023 3,957 3,226 3,408 10,591 5 Debtors Total 2024 Total 2023 Trade Debtors Prepayments 2,284 2,580 4,864 805 977 1,782 6 Creditors Total 2024 Total 2023 Other Taxes and Social Securitv Accruals 811 12,598 13,409 601 7,351 7,952 12
ABINGDON CAROUSEL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31 JULY 2024 7 Restricted Fund5 Opening Incomlng Balance Funds Outgoing Transfers Closing Funds Balance OCC Cllr Priority Fund - Public Face Project OCC Cllr Priority Fund - Sensory Room Project Vale of White Horse DC-Sens0ry Room Project Christs Hospital Quakers - Cost of Living OCC- Antenatal Christs Hospital- Baby scales Christs Hospital- Family Links Lord Lieutenant Fund Crawlers and Explorers Lord Lieutenant Fund Refreshments Awards for All- Saturday Club Caldecott Community Profile Grant Christs Hospital Boiler Beeching Trust- Saturday Club Caldecott Community Grant Saturday Club Christs Hospital Toilet Repair 193 3,318 223 3,198 206 1,5(K) 193 2,718 600 223 3,198 765 1,500 559 943 715 1,650 850 16,824 3,810 1,608 4,961 2,760 768 943 715 1,650 850 16,824 3,810 1,608 4,961 2,760 768 8,638 35,448 15,976 2,718 25,392 Purpose of Restrlcted Fund5 Oxford County Council Councillor Priority Funds were granted to update the building's exterior develop a sensory room for children with special need5 upgrade office equipment fund one yearfs antenatal coffee and chat group The Vale of the White Horse Dlstrict Council grant was also to develop a sensory room for children with special needs. Christs Hospital funds were granted to provide Family Links courses acquire and maintain baby scales support the maintenance of the boiler and toilets Quakers Cost of Living donation to support any cost of living and low-income family needs. Grants were provided by Beeching Trust, Caldecott Community and Awards for all to support the Saturday Club. The Lord Lieutenants Fund granted money for Crawler5 and Explorers sessions and refreshments for sessions. 13
ABINGDON CAROUSEL NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDING 31 JULY 2024 Trustee Remuneratlon and Benefits No trustee received any remuneration or benefit during the year12023: £nill. Trustee expenses The charity's insurance provides trustee indemnity cover. io Other Related party transactions The charity received £876 from Trustees without conditions during the yeor12023: £3,260). 14