CHARITY REGISTRATION NUMBER: 1182003
Sunderland All Together Consortium CIO Unaudited Financial Statements
31 March 2021
CS ACCOUNTING LIMITED
5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
Sunderland All Together Consortium CIO
Financial Statements
Year ended 31 March 2021
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Statement of cash flows | 6 |
| Notes to the financial statements | 7 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 14 |
| Notes to the detailed statement of financial activities | 15 |
Sunderland All Together Consortium CIO
Trustees' Annual Report (continued)
Year ended 31 March 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
Reference and administrative details
Registered charity name
Sunderland All Together Consortium CIO
Charity registration number 1182003 Principal office Southwick Neighbourhood Youth Project 271-273 Southwick Road Southwick Sunderland SR5 2AB
The trustees
Ms J Laverick Mr P McAloon Ms R Oxley Mr S Rylance Independent examiner CS Accounting Limited 5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
Our Aims and Objectives
The Sunderland All Together Consortium is a registered charity, set up to advance youth work in Sunderland. As a collective we work together to ensure the following three objectives can be reached 1. Sustain youth work by equipping the next generation of youth workers with the skills and knowledge they need to support young people. 2. Attract investment for youth work services within the city of Sunderland. 3. Develop standards to enable the delivery of exceptional services for young people.
Our Achievements
During the year 2020/2021, Sunderland All Together Consortium adapted and changed its service delivery in order to continue its operations throughout the Covid-19 pandemic. Operational guidance was sought from government information sources and through the National Youth Agency so we could assure our members and advise on safer working practice. Our members provided a Covid-19 safe environment for the young people of Sunderland. In order to best support the young people of Sunderland we made a decision as a consortia to expand our services during Covid-19 pandemic, to ensure we were able to reach as many young people as possible. With support from Sunderland City Council and The National Lottery Community Fund we were able to provide doorstep visits, enabling us to keep in touch with the most vulnerable young people, We provided activity bags and youth work support via
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Sunderland All Together Consortium CIO
Trustees' Annual Report (continued)
Year ended 31 March 2021
Zoom, WhatsApp and YouTube. Community outdoor sessions and one-to-one counselling sessions in a local building provided additional much needed resources.
Our future plans involve focusing on workforce training and development, strategic operation in the city, sharing best practice and securing sustainable investment for the youth sector in Sunderland.
Financial review
Results
The Sunderland All Together Consortium CIO received the following Restricted Grants:
The Ballinger Charitable Trust & National Lottery Community Fund (Good Vibes & Development) Income: £254,946 Expenditure: £121,136.35
National Lottery Community Fund (Future in Mind) Income; £80,150 Expenditure: £80,150
Sunderland City Council Strategic Initiative Budget Income: £43,017.10 Expenditure: £43,017.10
Sunderland City Council Covid-19 Mental Health and Wellbeing Support Income: £25,000 Expenditure: £0.00
HMRC Furlough Income: £4167.90 Expenditure: £4167.90
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Ms R Oxley Trustee
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Sunderland All Together Consortium CIO
Independent Examiner's Report to the Trustees of Sunderland All Together Consortium CIO
Year ended 31 March 2021
I report to the trustees on my examination of the financial statements of Sunderland All Together Consortium CIO ('the charity') for the year ended 31 March 2021.
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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
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:
-
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.
C Smith Independent Examiner
CS Accounting Limited 5 McMillan Close Saltwell Business Park Low Fell Tyne & Wear NE9 5BF
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Sunderland All Together Consortium CIO
Statement of Financial Activities
Year ended 31 March 2021
| Period from | |||||
|---|---|---|---|---|---|
| 13 Feb 19 to | |||||
| Year to 31 Mar | 21 | 31 Mar 20 | |||
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | – |
355,979 | 355,979 | 166,220 |
| Other income | 5 | – |
4,168 | 4,168 | – |
| --------------- | ----------------------------------- | ----------------------------------- | ----------------------------------- | ||
| Total income | – | 360,147 | 360,147 | 166,220 | |
| =============== | =================================== | =================================== | =================================== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 6,7 |
– |
296,937 | 296,937 | 123,388 |
| --------------- | ----------------------------------- | ----------------------------------- | ----------------------------------- | ||
| Total expenditure | – | 296,937 | 296,937 | 123,388 | |
| =============== | =================================== | =================================== | =================================== | ||
| --------------- | ----------------------------------- | ----------------------------------- | ----------------------------------- | ||
| Net income and net movement in funds | – | 63,210 | 63,210 | 42,832 | |
| =============== | =================================== | =================================== | =================================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 70 | 42,762 | 42,832 | – | |
| ------------------------------ | ----------------------------------- | ----------------------------------- | ----------------------------------- | ||
| Total funds carried forward | 70 | 105,972 | 106,042 | 42,832 | |
| ============================== | =================================== | =================================== | =================================== |
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 7 to 12 form part of these financial statements.
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Sunderland All Together Consortium CIO
Statement of Financial Position
31 March 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash at bank and in hand | 199,397 | 44,755 | |
| Creditors: amounts falling due within one year | 11 | 93,555 | 1,923 |
| ----------------------------------- | ------------------------------ | ||
| Net current assets | 106,042 | 42,832 | |
| ----------------------------------- | ------------------------------ | ||
| Total assets less current liabilities | 106,042 | 42,832 | |
| ----------------------------------- | ------------------------------ | ||
| Net assets | 106,042 | 42,832 | |
| =================================== | ============================== | ||
| Funds of the charity | |||
| Restricted funds | 105,972 | 42,762 | |
| Unrestricted funds | 70 | 70 | |
| ----------------------------------- | ------------------------------ | ||
| Total charity funds | 15 | 106,042 | 42,832 |
| =================================== | ============================== |
These financial statements were approved by the board of trustees and authorised for issue on 8 Oct 20, and are signed on behalf of the board by:
Ms R Oxley Trustee
The notes on pages 7 to 12 form part of these financial statements.
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Sunderland All Together Consortium CIO
Statement of Cash Flows
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 63,210 | 42,832 |
| Adjustments for: | ||
| Accrued expenses | 44,843 | 738 |
| Changes in: | ||
| Trade and other creditors | 46,589 | 1,185 |
| ----------------------------------- | ------------------------------ | |
| Cash generated from operations | 154,642 | 44,755 |
| ----------------------------------- | ------------------------------ | |
| Net cash from operating activities | 154,642 | 44,755 |
| =================================== | ============================== | |
| Net increase in cash and cash equivalents | 154,642 | 44,755 |
| Cash and cash equivalents at beginning of year | 44,755 | – |
| ----------------------------------- | ------------------------------ | |
| Cash and cash equivalents at end of year | 199,397 | 44,755 |
| =================================== | ============================== |
The notes on pages 7 to 12 form part of these financial statements.
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Sunderland All Together Consortium CIO
Notes to the Financial Statements
Year ended 31 March 2021
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 Southwick Neighbourhood Youth Project, 271-273 Southwick Road, Southwick, Sunderland, SR5 2AB.
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.
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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Sunderland All Together Consortium CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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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 to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Sunderland All Together Consortium CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
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Sunderland All Together Consortium CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Defined contribution plans (continued)
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations Received | – | 355,979 | 355,979 | |
| =============== | =================================== | =================================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations Received | 70 | 166,150 | 166,220 | |
| =============== | =================================== | =================================== | ||
| Other income | ||||
| Restricted | Total Funds | Restricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Other income | 4,168 | 4,168 | – | – |
| ========================= | ========================= | =============== | =============== | |
| Expenditure on charitable activities by fund type | ||||
| Restricted | Total Funds | Restricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Direct costs | 259,656 | 259,656 | 85,000 | 85,000 |
| Support costs | 37,281 | 37,281 | 38,388 | 38,388 |
| ----------------------------------- | ----------------------------------- | ----------------------------------- | ----------------------------------- | |
| 296,937 | 296,937 | 123,388 | 123,388 | |
| =================================== | =================================== | =================================== | =================================== |
5. Other income
6. Expenditure on charitable activities by fund type
7. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Donations | 259,656 | 37,281 | 296,937 | 123,388 |
| =================================== | ============================== | =================================== | =================================== |
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Sunderland All Together Consortium CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2021
8. Independent examination fees
| Period from | ||
|---|---|---|
| Year to | 13 Feb 19 to | |
| 31 Mar 21 | 31 Mar 20 |
|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 720 | 720 |
| =============== | =============== |
9. Staff costs
The average head count of employees during the year was 1 (2020: 1).
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
10. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
11. Creditors: amounts falling due within one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Deferred income | 47,134 | - |
| Accruals | 45,581 | 738 |
| Social security and other taxes | 512 | 960 |
| Other creditors | 128 | 225 |
| ------------------------------ | ------------------------- | |
| 93,355 | 1,923 | |
| ============================== | ========================= | |
| Deferred income | ||
| 2021 | 2020 | |
| £ | £ | |
| Amount deferred in year | 47,134 | – |
| ============================== | =============== |
13. Deferred income
14. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £779 (2020: £508).
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Sunderland All Together Consortium CIO
Notes to the Financial Statements (continued)
Year ended 31 March 2021
15. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | ||||||
| At | 31 March | 20 | ||||
| 1 April 2020 | Income | Expenditure | 21 | |||
| £ | £ | £ | £ | |||
| General funds | 70 | – | – | 70 | ||
| ============================== | =============== | =============== | ============================== | |||
| At | At | |||||
| 13 February | 31 March | 20 | ||||
| 2019 | Income | Expenditure | 20 | |||
| £ | £ | £ | £ | |||
| General funds | – | 70 | – | 70 | ||
| =============== | =============== | =============== | =============== | |||
| Restricted funds | ||||||
| At | ||||||
| At | 31 March | 20 | ||||
| 1 April 2020 | Income | Expenditure | 21 | |||
| £ | £ | £ | £ | |||
| Restricted Funds | 42,762 | 360,147 | (296,937) | 105,972 |
||
| =============== | =================================== | =================================== | ============================== | |||
| At | At | |||||
| 13 February | 31 March | 20 | ||||
| 2019 | Income | Expenditure | 20 | |||
| £ | £ | £ | £ | |||
| Restricted Funds | – | 166,150 | (123,388) | 42,762 |
||
| =============== | =================================== | =================================== | ============================== | |||
| 16. | Analysis of changes in net debt | |||||
| At | At | |||||
| 1 Apr 2020 | Cash flows | 31 Mar 2021 | ||||
| £ | £ | £ | ||||
| Cash at bank and in hand | 44,755 | 154,642 | 199,397 | |||
| ============================== | =================================== | =================================== |
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Sunderland All Together Consortium CIO
Management Information
Year ended 31 March 2021
The following pages do not form part of the financial statements.
13
Sunderland All Together Consortium CIO
Detailed Statement of Financial Activities
Year ended 31 March 2021
| Period from | ||
|---|---|---|
| Year to | 13 Feb 19 to | |
| 31 Mar 21 | 31 Mar 20 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations Received | 355,979 | 166,220 |
| ----------------------------------- | ----------------------------------- | |
| Other income | ||
| CJRS Grants | 4,168 | – |
| ------------------------- | --------------- | |
| ----------------------------------- | ----------------------------------- | |
| Total income | 360,147 | 166,220 |
| =================================== | =================================== | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Donations | 259,656 | 85,000 |
| Wages and salaries | 32,693 | 26,208 |
| Pension costs | 779 | 508 |
| Insurance | 380 | 380 |
| Legal and professional fees | 810 | 774 |
| Other office costs | 1,750 | 6,600 |
| Consultation costs | 420 | 3,918 |
| Staff training | 449 | – |
| ----------------------------------- | ----------------------------------- | |
| 296,937 | 123,388 | |
| ----------------------------------- | ----------------------------------- | |
| ----------------------------------- | ----------------------------------- | |
| Total expenditure | 296,937 | 123,388 |
| =================================== | =================================== | |
| ----------------------------------- | ----------------------------------- | |
| Net income | 63,210 | 42,832 |
| =================================== | =================================== |
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Sunderland All Together Consortium CIO
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2021
| Period from | ||
|---|---|---|
| Year to | 13 Feb 19 to | |
| 31 Mar 21 | 31 Mar 20 | |
| £ | £ | |
| Expenditure on charitable activities | ||
| Activities undertaken directly | ||
| Donations | 259,656 | 85,000 |
| ----------------------------------- | ------------------------------ | |
| Support costs | ||
| Salaries | 32,693 | 26,208 |
| Employer pension contributions | 779 | 508 |
| Insurance | 380 | 380 |
| Accountancy fees | 810 | 774 |
| Website & media costs | 1,750 | 6,600 |
| Consultation costs | 420 | 3,918 |
| Staff training | 449 | – |
| ------------------------------ | ------------------------------ | |
| 37,281 | 38,388 | |
| ------------------------------ | ------------------------------ | |
| ----------------------------------- | ----------------------------------- | |
| Expenditure on charitable activities | 296,937 | 123,388 |
| =================================== | =================================== |
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