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2020-03-31-accounts

OPEN DOOR PEOPLE CIO

Charity No. 1182458

Report and financial statements For the period ended 31 March 2020

Open Door People CIO

Report and financial statements

For the period ended 31 March 2020

Contents

Page
Reference and administrative information 1
Trustees’ annual report 2 - 12
Independent examiner’s report 13
Statement of financial activities 14
Balance sheet 15
Notes to the financial statements 16 - 20

Open Door People CIO

Reference and administrative information

For the period ended 31 March 2020

Trustees:
Chief Executive:
Charity number:
Registered office:
Accountants:
Bankers		 Alexander Ferris – Chair
Shaheen Baig - Vice Chair
Amy Chambers - Vice Chair
Kris Milovsorov – Treasurer (Appointed on 02/04/2020)
Andrew Cornforth
Lindsay Taggart (Appointed on 02/04/2020)
Will Wood (Appointed on 02/04/2020))
David Mumeni
1182548
Studio 9
6 Cliff Road
London
NW1 9AN
Accountability Europe Ltd
Omnibus Workspace
39-41 North Road
London N7 9DP
www.accountabilityeu.co.uk
Barclays Bank Plc

1

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

The trustees present their report and financial statements for the period ended 31 March 2020.

The trustees confirm that the financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The object for which Open Door People is established (as outlined in the Articles of Association) is to advance the education of people aged between 17 and 26 from low income backgrounds in the theatrical arts by providing them training and preparation to gain a place at the UK’s leading drama schools.

The main activities undertaken in relation to these aims are:

  1. Removing financial barriers to participants accessing the application and audition process for leading drama schools. This includes but is not limited to audition and interview fees for leading drama schools, travel expenses, costs of materials, and technical equipment required for the application and audition/interview process.

  2. Redressing existing inequalities which may stem from a participant’s socio-economic background, and which may impact their ability to compete on a level playing field for their drama school place. This includes but is not limited to one to one tutoring sessions, free theatre tickets, creative workshops, pastoral support, mental health support (including one to one counselling when required) and an allocated industry buddy.

  3. Raising awareness of issues of unequal access to career level training in the areas of performing and backstage arts. This includes but is not limited to raising public awareness of the issues and working with and challenging partner schools to reduce barriers such as expensive audition fees, excess audition recall dates, and emphasis on classical text during the audition process.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to the general guidance published by the Charity Commission relating to public benefit, including the guidance 'public benefit: running a charity (PB2)'.

Improving diversity and representation in the UK drama school intake and therefore the future performing arts workforce.

Despite some awareness beginning to develop in recent years, inequality in regard to access to a career in the arts, as a result of a person's socio-economic backgrounds, remain under-researched.

2

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

This is in part due to the delay in adding Socio-economic background to the formal list of Protected Characteristics which would allow more data and information to be collected.

However, with audition fees in some of the UK’s leading drama schools reaching £63 for one school, the practical barriers to someone living in poverty accessing an audition are clear. In regard to the less obvious barriers, the Arts Council England ‘Every Child’ report (2016) states that “The reduction in arts subjects being taught in schools was felt by interviewees to impact on those who are not encouraged or cannot afford to engage outside of school.” The same report also recognises that “Parents from higher socio-economic groups are significantly more likely to take their children to arts events and to encourage them to participate in arts activities, as compared with parents from lower socio-economic groups” and that barriers to participation in the arts include “costs of access and transport; digital poverty; and perceptions of culture.”

Open Door People recognises these issues as barriers to young people from low income backgrounds obtaining equal access to a career level training in the performing arts and seeks to redress that imbalance through our work.

The impact of this problem on the representation within the industry is highlighted in research by ‘Panic 2018’ led by sociologists from the Universities of Edinburgh and Sheffield. Their research shows that despite 35% of the population identifying as ‘Working Class’, only 12.4% of those working in the area of Film, TV and Radio are working class and just 18.3% in music, performing and visual arts.

In the UK (according to the UK Government's Income Distribution Report published September 2020) people from Black or other Ethnic Minority backgrounds are disproportionately represented in the bottom two income quintiles. For example, within the UK 57% of people identifying as Black and 73% of people identifying as Pakistani are within the bottom two household income quintiles compared with just 38% of White British people. There remains a clear link in the UK between income and racial identity. It is therefore relevant for us as a charity to recognise that just 12% of the total NPO workforce are people from Black or Ethnic Minority backgrounds, as stated by the Art Council England's most recent diversity report.

There are currently 72 Open Door People participants studying on BA courses at leading drama schools RADA, RCS, Guildhall, LAMDA, RWCMD, RCSSD and Drama Centre as a direct result of the Open Door program. 68% of these drama school students/Open Door participants are from a Black or Ethnic Minority background. All participants are from households with an annual income of less than £30k.

Open Door People’s work redresses these imbalances and as a result, over extended periods of time, there is a significant impact on the diversity of each school's intake. As this change starts to become recognised by potential students from minority backgrounds, there will be a knock-on effect of them feeling less alienated from the institution as a result. We believe this will encourage overall applications from minority groups. As such the long-term result of this work is U.K drama schools with a more diverse intake and institutions ready and equipped to welcome and support students that more closely reflect the UK population. These outcomes are of clear public benefit.

3

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

As Open Door People’s work significantly diversifies the intake of these leading schools it will in turn have a direct impact on the future workforce of the creative arts industry. This will, in the long term, offer the public a more representative performance industry and creative output.

Improving inclusion within the UK’s leading drama schools.

As well as focusing on issues of access, Open Door People’s work is also improving the experience of those from under-represented groups while studying at drama schools.

Open Door People has been working to make recommendations of reform at drama schools within the areas of inclusion, anti-discrimination and student well-being. The charity also spends time evaluating our drama school partners’ practises in regard to these issues and the quality of training being provided.

Significant numbers of students from marginalised groups are entering these institutions via Open Door People and do so with the continued support of the charity. This allows us to identify barriers, and in some cases issues of discrimination within the training itself and challenge and address these issues with each school appropriately.

The work Open Door People does to challenge drama schools on these issues, and support the development of better practise, allows for the positive development of these institutions and is of significant public benefit.

Volunteers

The contribution of volunteers to Open Door People’s practise is predominantly contained to one area of our work. This is the element of ‘Industry Buddies.’ Participants are allocated an ‘Industry Buddy’ at the end of the Access Programme and again at the end of the Graduating Group programme, when they are leaving their drama school training. The ‘Industry Buddies’ allows us to generate industry connections and networks for our participants and offer ongoing career mentorship. The buddies are matched with participants with awareness of participants’ interests, strengths and career aspirations to ensure they are as relevant as possible. The buddies do not have set hours but can develop their own professional mentoring relationship with the participants, arranging catch-ups or theatre trips when they and the participants see fit. Buddies must adhere to the Open Door People safeguarding policy at all times.

Open Door People are occasionally approached by those who wish to volunteer their skills or to gain experience in a volunteer role within our office. In order to ensure equal access to any volunteer opportunities and to protect the right to fair pay we do not offer volunteer opportunities for more than one week per a person. In order to increase access further, the week of volunteering can be spread over a period of 3 months allowing potential volunteers to maintain paid employment simultaneously. Further volunteer roles include members of the industry offering their time to speak on Q&A panels or run workshops for the participants. A volunteer offering their time in this regard would similarly be limited to a total of one weeks volunteering per a year. This restriction does not apply to our ‘Industry Buddies’ volunteers.

4

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

Activity and Performance March 2019- March 2020:

Activities Overview March 2019 - March 2020:

Beneficiaries:

1. 2018 -2019 Access and Return Group Participants

Participant Criteria:

All participants were auditioned and/or interviewed by the Open Door People team and panel members including actor Paapa Essiedu, casting director Shaheen Baig and stage manager Sarah Alford-Smith. The Acting Programme audition process saw us audition over 300 eligible applicants.

2. 2019 - 2020 Access and Return Group Participants

Participant Criteria:

All participants were auditioned and/or interviewed by the Open Door People team and panel members including actor Paapa Essiedu, casting director Shaheen Baig and designer Sunita Hinduja. The Acting Programme audition process saw us audition over 300 eligible applicants.

5

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

3. Ignite Attendees & Participants

March 2019 - September 2019

During March 2019 we were working with a total of 51 participants:

This group achieved : 70 offers, 370 recalls, 147 Final Rounds at Open Door People partner schools Drama Centre, RCSSD, LAMDA, Guildhall, RADA and RWCMD.

Thirty-One participants started at an Open Door People partner drama school on a B.A course in September 2019 after applying for the schools via the programme. Eleven participants graduated onto our Return Group 2019/2020 programme.

Each acting access programme participant enjoyed 15 hours of one-to-one tutoring and 12 creative workshops. Each Return Group programme participant enjoyed 12 creative workshops. Each Behind The Scenes participant was offered 8 hours of one-to-one tutoring. All participants were offered creative workshops at all participatory drama schools.

In addition to having access to regular free theatre tickets to third year shows at all participatory drama schools, participants on all three programmes were offered free theatre tickets for over 40 professional plays. These included ‘Sweat’ (Donmar Warehouse) ‘Small Island’ (National Theatre), Emilia (The Globe), ‘Wonderland’ (Nottingham Playhouse) & ’My Mother Said I Never Should’ (Derby Theatre).

October 2019 - March 2020

In October 2019 we expanded our geographical reach to include Sheffield and Essex.

During March 2020 we were working with a total of 48 participants:

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Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

Each acting access programme participant enjoyed 15 hours of one-to-one tutoring and 12 creative workshops. Each Return Group programme participants enjoyed 12 creative workshops. Each Behind The Scenes participant was offered a group workshop and 4 hours of one-to-one tutoring. All participants were offered creative workshops at all participatory drama schools.

In addition to having access to regular free theatre tickets to third year shows at all participatory drama schools, participants on all three programmes were offered free theatre tickets for over 20 professional plays before March 2020. These included ‘Three Sisters’ (National Theatre), ‘Albion’ (Almeida Theatre), ‘A History of Water in the Middle East’ (The Royal Court), ‘Private Peaceful’ (Nottingham Playhouse) and ‘West Side Story’ (Curve Theatre).

Ignite Events September 2019 - October 2019

‘Ignite’ was a series of three day-long events produced in partnership with Nottingham Playhouse, Derby Theatre and Curve Theatre. All three events were free and held at each of our partner theatres.

Over 230 local state school children attended a series of practical workshops delivered by leading industry professionals, offering a taster of what their job role involves. This included a writing workshop by ‘Skins’ writer Bryan Elsley, a directing workshop by ‘Humans’ and ‘Broadchurch’ director Lewis Arnold, a lighting workshop by Derby Theatre Lighting Designer Tim Skelly, and a casting workshop by Shaheen Baig.

The school groups then enjoyed an hour-long Q&A with all the workshop leaders and additional speakers. Q&A guests included actor Vicky McClure, EMMY winning Producer and Director Krishnendu Majumdar & Movement Director Polly Bennett.

The Q&A was then repeated for a second time on the same day for the general public. These events were free, BSL interpreted and attended by over 300 members of the public. All Q&A guests and school groups received a free 20-page handout booklet detailing the variety of roles in the industry and local affordable opportunities to engage in drama and production arts.

Reporting performance

Open Door People’s objectives during March 2019 - March 2020 has been to:

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Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

Challenges have included:

Outcomes and Impact

8

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

- Open Door People participant 2018/19

Open Door People’s work has engaged a total of 99 young people from households with an annual income of under £30,000 during March 2019 -March 2020. After benefiting from the support Open Door People offers, 58 of those young people aren now studying on a BA course at one of the UK’s leading drama schools. Open Door People is succeeding in bringing together exceptionally talented people from low income backgrounds with the country’s leading drama schools, resulting in a significant diversification of their intake. As detailed previously within this report this work benefits the individual participants directly involved, other aspiring young people from minority backgrounds and the public as a whole who will enjoy a more representative and diverse creative output as a result of this programme.

9

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

Financial review

This was the first period of Open Door being run as a registered charity, so there are no comparatives to help us assess the performance. However, the charity has continued the work its founders started, and the accounts reflect a strong performance and final position at the year end.

Results for the year ended 31 March 2020 are given in the Statement of Financial Activities. The assets and liabilities are given in the Balance Sheet. The financial statements should be read in conjunction with the related notes. In summary, income for the period amounted to £186,607 whilst £137,414 were expended during the period as shown in the Statement of Financial Activities. Net income for the year was £49,193. Full details of income and expenditure are set out in notes to the financial statements.

The funds transferred from the previously unregistered organisation was £20,400 (which is included in income) and the reserves position as at 31 March 2020 was £49,193. The Trustees regard the financial position of the Charity at 31 March 2020 to be satisfactory and they are content that the current unrestricted reserves position leaves it with a sound base from which future activity can be built.

The principal funding for Open Door was from government and public bodies (in particular, the Arts Council), our partners (drama schools and theatres), and various other companies and individuals. The income is generated to deliver our programme of education and support for our students in their applications to leading drama schools, which covers both technical assistance and pastoral care.

To some extent, the finances are reasonably low risk as each intake of students is budgeted with a funding application made to the Arts Council to supplement donations from other sources.

Reserve policy

Open Door has initially proposed a reserves policy that will ensure that the charity maintains at least six months of basic running costs in our unrestricted reserves in order to ensure the stability and continued smooth running of the charity's activities. At the year end, free reserves were £49,193, which would cover at least nine months of the basic running costs (fundraising and support costs).

The Board of Trustees will review the policy regularly as the charity develops to ensure it is appropriate.

Going concern

The Trustees have reviewed the after-date financial information, including projections, and have a reasonable expectation that the company has adequate resources to continue to adopt the going concern basis in preparing the financial statement. Included in this review, the Trustees have considered the impact of the Covid-19 outbreak, which has significantly impacted the industry and the general economy. Despite this, the Charity has continued to receive donations plus funding from the Arts Council and can readily tailor the operations to adapt to the effects of the crisis.

10

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

Structure, governance and management

Open Door People is a charitable incorporated organisation, number 1182458 registered on 14 March 2019 and governed by a board of trustees according to a written constitution that outlines the purpose of the charity and the legal responsibilities of the trustees. They do this through advising on policy and best practice; supporting the team to achieve their strategic goals through expert industry knowledge and networking; advocating for the work locally and nationally; supporting specific projects or work streams; and identifying potential opportunities.

What is it?

What does it do?

How does it do it?

The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

11

Open Door People CIO

Trustees’ annual report

For the period ended 31 March 2020

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires that the Trustees prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period.

In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity, and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees’ annual report has been approved by the trustees on 21January 2021 and signed on their behalf by;

…………………………………….

Alexander Ferris – Chair Name – Chair / Trustee

12

Open Door People CIO

Independent Examiner’s Report to the Trustees of Open Door People CIO

For the period ended 31 March 2020

I report to the trustees on my examination of the accounts of the above charity for the period ended 31 March 2020.

Responsibilities and basis of report

As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

………………….......

Aamer Shehzad FCCA ACA

Accountability Europe Ltd Omnibus Workspace 39-41 North Road London N7 9DP

Date: 26 January 2021

13

Open Door CIO

Statement of financial activities (incorporating an income and expenditure account)

For the period ended 31 March 2020

----- Start of picture text -----
2020 2019
Unrestricted Restricted Total Unrestricted Restricted Total
Note £ £ £ £ £ £
Income from:
Donations and grants 2 127,556 59,018 186,574 - - -
Other income 3 33 - 33 - - -
Total income 127,589 59,018 186,607 - - -
Expenditure on:
Raising funds 4 5,614 - 5,614 - - -
Charitable activities 4 72,782 59,018 131,800 - - -
- - -
Total expenditure 78,396 59,018 137,414
- - - -
Net income for the year 49,193 49,193
Net movement in funds 49,193 - 49,193 - - -
Reconciliation of funds:
- - - - - -
Total funds brought forward
Total funds carried forward 49,193 - 49,193 - - -
----- End of picture text -----

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 11 to the financial statements. The attached notes form part of these financial statements.

14

Open Door CIO

Balance sheet

----- Start of picture text -----
Company no. 11809555
As at 31 March 2020
2020 2020 2019
Note £ £ £
Current assets:
Cash at bank and in hand 50,093 -
50,093
Liabilities:
Creditors: amounts falling due within one year 9 (900) -
-
Net current assets / (liabilities) 49,193
-
Total net assets / (liabilities) 49,193
The funds of the charity: 11
Restricted income funds - -
Unrestricted income funds:
General funds 49,193 -
-
Total charity funds 49,193
----- End of picture text -----

Approved by the trustees on 21 January 2021 and signed on their behalf by:

Alexander Ferris

…………………………………….

Chair / Trustee

15

Open Door CIO

Notes to the financial statements

For the period ended 31 March 2020

1 Accounting policies

Charity information

Open Door CIO is a charity registered in England and Wales. The registered office is C/O Great Western Studios, Unit 122, 65 Alfred Road, London W2 5EU

Basis of preparation

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 Republic of Ireland (FRS 102) - (Charities SORP FRS 102). The charity is exempted from preparing a cash flow statement due to the exemption available to charities with income less than £500,000.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from grants and donations are 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.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Bank interest on funds is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose and their associated support costs.

Expenditure on charitable activities includes the costs of charitable activities that are undertaken to further the purposes of the charity and their associated support costs.

16

Open Door CIO

Notes to the financial statements

For the period ended 31 March 2020

1 Accounting policies (continued)

Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the basis of staff time, of the amount attributable to each activity.

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rate in use is 25% straight line for all categories of assets.

Debtors

Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes all bank balances kept in current accounts.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments which are initially recognised at transaction value and subsequently measured at their settlement value.

2 Income from donations and grants

Other donations
3
Ticket sales
Donations from talent agencies
Donations from partners
Government and public body grants
Other income		 Unrestricted
£
-
7,272
84,500
35,784
127,556
33
33		 Restricted
£
59,018
-
-
-
59,018
-
-		 2020
Total
£
59,018
7,272
84,500
35,784
186,574
33
33		 2019
Total
£
-
-
-
-
-
-
-

17

Open Door CIO

Notes to the financial statements

For the period ended 31 March 2020

4 Analysis of expenditure

Participants costs
Ignite events costs
Staff and freelance costs
Printing, postage and stationery
Website and marketing
Computer and IT costs
Accountancy fees
Independent examination fee
Subscriptions
Telephone
Support costs
Total expenditure 2020		 Cost of
raising
funds
£
-
-
5,614
-
-
-
-
-
-
-
5,614
-
5,614		 Charitable
activities
£
60,378
14,892
-
-
-
-
-
-
-
-
75,270
56,530
131,800		 Support
costs
£
-
-
52,222
266
2,454
23
1,200
180
64
121
56,530
(56,530)
-		 2020
Total
£
60,378
14,892
57,836
266
2,454
23
1,200
180
64
121
137,414
-
137,414		 2019
Total
£
-
-
-
-
-
-
-
-
-
-
-
-
-

Of the total expenditure, £78,396 was unrestricted (2019: £0) and £59,018 was restricted (2019: £0).

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Open Door CIO

Notes to the financial statements

For the period ended 31 March 2020

5 Net income for the year

This is stated after charging:

----- Start of picture text -----
|||| |---|---|---| |2020|2019| |£|£| |Independent examination fee (including VAT)|180|-|

----- End of picture text -----

6 Trustee remuneration and expenses, and the cost of key management personnel

The total cost of key management personnel was £50,526 (2019: £nil).

The charity trustees were not paid and did not receive any benefits from employment with the charity in the year (2019: £nil). No charity trustee received payment for professional or other services supplied to the charity (2019: £nil).

7 Related party transactions

There are no related party transactions to disclose for the period (2019: none).

8 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9 Creditors: amounts falling due within one year

----- Start of picture text -----
|||| |---|---|---| |2020|2019| |£|£| |Accruals|900|-| |900|-|

----- End of picture text -----

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Open Door CIO

Notes to the financial statements

For the period ended 31 March 2020

10 Analysis of net assets between funds

Total funds
Net assets at the end of the year
Unrestricted general funds
Net current assets
Restricted funds
Movements in funds		 At the
start of
the year
£
-
-
-		 £
49,193
49,193
Income
£
59,018
127,589
186,607
General
unrestricted		 Restricted
£
-
-
Expenditure
£
(59,018)
(78,396)
(137,414)		 Total
funds
£
49,193
49,193
At the
end of
the year
£
-
49,193
49,193

11 Movements in funds

Restricted funds are received and allocated for use for a specific restricted purpose.

12 Post balance sheet event

The World Health Organization declared the outbreak of the coronavirus a pandemic in March 2020. As we progress through, more information is becoming known about the scale and impact of the coronavirus. The pandemic might have a significant impact on the charity and its operations.

20