REGISTERED COMPANY NUMBER: 11297834 (England and Wales)
REGISTERED CHARITY NUMBER: 1181037
OUR HIDDEN TREASURE
(A COMPANY LIMITED BY GUARANTEE)
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
OUR HIDDEN TREASURE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Chair’s Statement and Report of the Trustees | 2 to 6 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 to 10 |
| Notes to the Financial Statements | 11 to 15 |
OUR HIDDEN TREASURE REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 APRIL 2023
TRUSTEES Mr A Wertzberger Mr M Halpern Mr P A Taub REGISTERED OFFICE 17A Amhurst Park London N16 5DH REGISTERED COMPANY NUMBER 11297834 (England and Wales) REGISTERED CHARITY NUMBER 1181037 BANKERS Barclays Bank Plc. 1 Churchill Place London E14 5HP
Page 1
OUR HIDDEN TREASURE CHAIR’S STATEMENT FOR THE YEAR ENDED 30 APRIL 2023
Every child is a treasure shining in its unique way. Some treasures are more hidden. Nonetheless, they have equal right to be discovered so their potential can shine forth.
It is very clear that every person has their own capabilities and strengths. Children who are capable of less, are not expected to reach the achievements of their peers, but to do their best . In our school systems there are children who are behaviourally challenged, underachieve academically and feel misunderstood. Our mission is to ‘level the field’ through the provision of supplementary learning sessions and materials, as well as emotional aid to children who are behaviourally challenged. Teachers and parents are constantly supported, given the tools to understand the individual child and ensure their particular needs are met.
This year has been a difficult year globally but a year of remarkable growth for our organization and the children we support. We are grateful to have been to step up and play a vital role in meeting the crucial needs of the community.
Over the year, we granted 20%-30% reductions on the high costs of extra educational and emotional support or therapies. This necessary assistance enabled disadvantaged children to reach educational milestones, improve their self-esteem and reach their potential.
Our services were the ‘go-to’ for many families, who found themselves struggling to access support and make sense of the bureaucracy involved. We worked in partnership with various agencies, with referrals and finding suitable treatment and care to help the individual child, through Occupational Therapy, Speech and Language Therapy, Psychotherapy, Social groups and so on.
The effects of the current recession are devastating to local families. Many have lost jobs, the cost of living has increased and families are struggling to cover costs of extra provision. Difficulties intensify when parents need to provide on-going, expensive therapy and learning sessions to a child with Special educational needs. It is at that point that we step in to support parents and ease their financial strain.
We aim this year to ease the burden of struggling parents with our Sponsored Sessions Plan, and by offering substantial reductions for therapy and learning costs, and more.
As well as keeping up with our current projects, we will expand to introduce a range of projects increasing the reach of our impact and promoting our goal of revealing the greatness of all children, no matter how disadvantaged they may be.
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OUR HIDDEN TREASURE CHAIR’S STATEMENT - CONTINUED FOR THE YEAR ENDED 30 APRIL 2023
Our plan for the next year is to help disadvantaged children aged 12-14, who following Covid, fell out of the educational system due to difficulty keeping up academically during lockdown. Home-based learning disengaged these children; lack of social opportunities increased their isolation leading them to turn to unhealthy technology habits. The cost-of-living crisis compounded their decline, since economic disadvantage restricted their access to necessary support that will help them keep up with their peers at school.
Our aim to support these children is to set up a club for them to access learning and emotional support. On-site professionals and tutors will help them make up gaps in their knowledge and stay up to standard of learning in class. We will also provide emotional therapeutic support through activities led by our dedicated volunteers. Warm meals will be served at sessions, thereby easing the strain that parents feel with the rising of food costs. Warm food will also enable effective learning to take place, ensuring these children get back on track, attend school regularly and develop through a healthy, secure youth. We hope to offer vocational and employability courses, giving these children opportunities to develop skills to help them through employment.
Our amazing volunteer team is at the heart of our work. Without their unwavering commitment and determination to help make a difference, our services would be largely restricted. They generously give of their time with LSA work, activity and group arrangement, facilitating, liaising, and event planning. The list is endless, and we thank each one of you.
Mr Wertzberger Chairman
Page 3
OUR HIDDEN TREASURE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2023
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year to 30 April 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Reference and administrative details
Reference and administrative details are shown on Page 1 of the financial statements and forms part of this report.
OBJECTIVES FOR PUBLIC BENEFIT
The objects of the charity are:
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a. The advancement of education
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b. The relief of those in need by reason of youth, age, ill-health, disability, financial hardship, or any other disadvantage.
The trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE
Our Hidden Treasure’s mission is:
To help disadvantaged children, especially those who have special educational needs (SEN) through the provision of supplementary learning sessions and materials, as well as emotional support to those children who are behaviourally challenged. Furthermore, to provide parents with guidance and financial support towards the high costs of extra educational and emotional support or therapies. This vital support will enable these disadvantaged children to reach educational milestones, improve their self-esteem and reach their potential.
Our strategic aims are:
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To provide support for children with SEN or to those who fall behind academically, enabling them to reach their maximum potential by providing a holistic approach to their learning.
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To provide support and advice to parents of children with learning and behavioural challenges thus empowering them to support their child’s development.
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To work with children’s teachers and Key Workers to help them better understand the challenges facing children with SEN and to provide them with special educational and behavioural training.
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To provide support for children with emotional issues. Including children who underachieve academically at school, or who feel misunderstood at home or school. Support will be provided to teacher and parents, by giving them tools to understand the child and ensure that their particular needs are met.
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OUR HIDDEN TREASURE LIMITED REPORT OF THE TRUSTEES - CONTINUED
FOR THE YEAR ENDED 30 APRIL 2023
Summary of past year’s achievements
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Provision of Resources - we made resources available for teachers to be able to target all types of learners, including necessary equipment, and resources for effective reward systems.
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Tracking System - we were successful in planning and creating a methodical system to track learners’ progress and achievement to be able to keep a precise record of every student’s progress. This enables staff members of local schools to identify areas of strength and weaknesses in the learning of each student and any need for intervention is addressed accordingly.
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Networking - we provided a network for teachers and educators to liaise with relevant professionals.
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Parental Training - we held an event for parents to get them on board with our new development, and enabled partnership between parents and staff working with one goal. Even more, parents have gained training in relevant subject matters including giving encouragement to children, believing and trusting in their capabilities, showing an interest in their learning.
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Extra-curricular activities – we continued running our special activities and programs, designed to bring out the strengths and talents of struggling children in a positive and fun environment and provided opportunities to help students develop sense of unity and teamwork.
Plans for future
The trustees have set the following plans for the next year:
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Continued Support - according to feedback from the parent’s event, we will provide follow-up workshops on subjects of interest relating to child development, and provide a network for parents to liaise with relevant professionals.
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Financial Support - we are aiming to offer up to 60% reduction for therapy or specialised learning costs to parents who are unable to pay the large sums of money that their child’s treatment plan is costing them, due to the current inflation.
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Sponsored Sessions - we strongly believe that every child should get the help they need. Where a child is affected by financial crisis and they cannot access the support they deserve, we will step in and sponsor the sessions, so they do not lose their opportunity to thrive.
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Youth club - we will launch our learning support and skills club for young people who have lost skills and fallen out of the education system during Covid and the following recessions. These young people are at the critical states in their childhood where they can learn skills and set themselves up for a successful future. We will provide the academic and emotional support these young people need with warm meals, on site tutors and mentors.
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Our vision for this year is to expand our organization by; offering our services to more children and their parents; continue to broaden our education on relevant matters so we can be most effective and increase the level of resource and support which we are currently offering.
Page 5
OUR HIDDEN TREASURE LIMITED REPORT OF THE TRUSTEES - CONTINUED FOR THE YEAR ENDED 30 APRIL 2023
Reserves policy and Financial Review
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
Income for the year has decreased slightly and expenditure on charitable activities has increased slightly. This deficit was funded from the reserves. Trustees are satisfied with the level of reserves, given the fact that a large percentage of the charity’s income is from government sources, therefore most of the income is relatively secure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 14 March 2018.
Organisational structure
The power to appoint new trustees is vested in the current board. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
Risk management
The trustees have carried out a risk assessment and confirm that there are no major risks to which the charity is exposed.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 22 February 2024 and signed on its behalf by:
Mr A Wertzberger – Trustee
Page 6
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF OUR HIDDEN TREASURE FOR THE YEAR ENDED 30 APRIL 2023
I report on the accounts for the year ended 30 April 2023 set out on pages 8 to 15
Respective responsibilities of Trustees (directors) and Examiner
The company’s trustees, who are also the directors, are responsible for the preparation of the financial statements and they consider that the company is exempt from an audit for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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Examine the accounts under section 145 of the 2011 Act.
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To follow the procedures laid down in the general directions given by the Charity Commission Under section 145(5) (b) of the 2011 Act and
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To state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair” and the report is limited to those matters set out in the statement below.
Independent Examiners statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respects the requirements:
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keep accounting records in accordance with section 386 of the Companies Act 2006; and
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To prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities Have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper
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understanding of the accounts to be reached.
Independent Examiner Simon Tesler F.C.A Chartered Accountant ICAEW 149 Albion Road London N16 9JU
22 February 2024 Page 7
OUR HIDDEN TREASURE STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 APRIL 2023
| 2023 | 2022 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Notes | Restricted funds £ |
Unrestricted fund £ |
Total funds £ |
Total funds £ |
||||||
| 99,720 106,852 103,636 97,353 970 750 104,606 98,103 (4,886) 8,749 26,747 17,998 21,861 26,747 |
||||||||||
| INCOME AND ENDOWMENTS | 2 | 70,931 | ||||||||
| EXPENDITURE ON Charitable activities 3 Fundraising Total expenditure NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
||||||||||
| 8,749 17,998 |
||||||||||
| 26,747 |
The notes form part of these financial statements
Page 8
OUR HIDDEN TREASURE (REGISTERED NUMBER: 11297834) BALANCE SHEET AS AT 30 APRIL 2023
| Notes FIXED ASSETS Tangible assets 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
2023 2022 Unrestricted fund £ Unrestricted fund £ 644 901 960 25,338 21,457 1,708 22,417 27,046 (1,200) (1,200) 21,217 25,846 21,861 26,747 21,861 26,747 21,861 26,747 21,861 26,747 |
2023 2022 Unrestricted fund £ Unrestricted fund £ 644 901 960 25,338 21,457 1,708 22,417 27,046 (1,200) (1,200) 21,217 25,846 21,861 26,747 21,861 26,747 21,861 26,747 21,861 26,747 |
|---|---|---|
| 22,417 (1,200) |
27,046 (1,200) |
|
| 21,217 | 25,846 | |
| 26,747 | ||
| 26,747 | ||
| 26,747 | ||
| 26,747 |
The notes form part of these financial statements
Page 9
OUR HIDDEN TREASURE (REGISTERED NUMBER: 11297834) BALANCE SHEET - CONTINUED AS AT 30 APRIL 2023
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) Ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 22 February 2024 and were signed on its behalf by:
Mr A Wertzberger – Trustee
The notes form part of these financial statements
Page 10
OUR HIDDEN TREASURE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income received by way of donations is accounted for when received. Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Tangible fixed assets
Tangible fixed assets depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life: Computer Equipment - 25% on cost Office Furniture - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
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OUR HIDDEN TREASURE NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2023
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Going concern
There are no material uncertainties about the charity’s ability to continue.
2. INCOME AND ENDOWMENTS
| 2023 Unrestricted funds Restricted funds Total funds £ £ £ Donations and legacies 28,789 - 28,789 Local authority funding - 70,931 70,931 28,789 70,931 99,720 3. CHARITABLE ACTIVITIES COSTS Direct costs Support costs (See note 4) (See note 5) £ £ Charitable activities 101,547 2,089 4. DIRECT COSTS OF CHARITABLE ACTIVITIES 2023 £ Therapy & Learning Support Sessions 74,156 Mental Health Programme 7,220 Grants made 3,340 Assessments 1,000 Parenting Workshop 5,925 Teachers’ Training 5,171 SEN Books & resources 2,436 After-school activities 1,289 Transport 1,010 101,547 |
2022 Total funds £ 33,172 73,680 106,852 Totals £ 103,636 2022 £ 77,238 - 1,900 910 10,000 - 1,854 3,403 - 95,305 |
|---|---|
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OUR HIDDEN TREASURE NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2023
5. SUPPORT COSTS
| Depreciation of Computer Equipment & Office Furniture (See note 8) Office expenses Travel expenses Advertising Governance costs Support costs, included in the above, are as follows: Governance costs Independent Examiner’s Fees Accountancy Fees General expenses |
2023 £ 257 905 279 - 648 2,089 2023 £ - 600 48 648 |
2022 £ 301 731 236 79 701 |
|
|---|---|---|---|
| 2,048 | |||
| 2022 £ 250 350 101 701 |
6. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits neither for the year ended 30 April 2023, nor for the period ended 30 April 2022.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 30 April 2023, nor for the period ended 30 April 2022.
7. STAFF COSTS
There were no staff costs for the year ended 30 April 2023, nor for the period ended 30 April 2022. No employees received emoluments in excess of £60,000.
The average number of employees during the year ended 30 April 2023 was nil. The average number of employees during the year ended 30 April 2022 was nil.
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OUR HIDDEN TREASURE NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2023
8. TANGIBLE FIXED ASSETS
| Computer Equipment £ Cost At 1 May 2022 525 Additions - At 30 April 2023 525 Depreciation At 1 May 2022 131 Charge for the year 131 At 30 April 2023 262 Net Book Value At 30 April 2023 263 At 30 April 2022 394 9. DEBTORS Accrued revenue Other debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals and deferred income |
Office Furniture £ 793 - |
Total £ 1,318 - 1,318 417 257 674 644 901 2022 £ 21,738 3,600 25,338 2022 £ 1,200 |
Total £ 1,318 - |
|
|---|---|---|---|---|
| 793 | 1,318 | |||
| 286 126 |
417 257 |
|||
| 412 | 674 | |||
| 381 | 644 | |||
| 507 | 901 | |||
| 2023 £ 960 - 960 2023 £ 1,200 |
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OUR HIDDEN TREASURE NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 30 APRIL 2023
11. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General fund Restricted funds TOTAL FUNDS |
At 1.5.22 £ 26,747 - 26,747 as follows: Incoming resources £ 28,789 70,931 99,720 |
Net movement in funds £ (4,886) - (4,886) Resources expended £ 33,675 70,931 104,606 |
At 30.4.23 £ 21,861 - 21,861 Movement in funds £ (4,886) - |
At 30.4.23 £ 21,861 - |
|---|---|---|---|---|
| 21,861 | ||||
| (4,886) |
12. RELATED PARTY DISCLOSURES
There are no related party transactions requiring disclosure.
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