OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REGISTERED COMPANY NUMBER: CE019370 (England and Wales) REGISTERED CHARITY NUMBER: 1186053

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

BRIGHTER HORIZONS

(A COMPANY LIMITED BY GUARANTEE)

H & E Johnson Chartered Accountants Sandall House 230 High Street Herne Bay Kent CT6 5AX

BRIGHTER HORIZONS

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023

Page
Report from the Chair 1
Report of the Trustees 2 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13 to 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 23
Detailed Statement of Financial Activities 24 to 25

BRIGHTER HORIZONS

REPORT FROM THE CHAIR for the Year Ended 31 March 2023

My fellow Trustees and I are pleased to present our annual and strategic report for the year April 2022 - March 2023. The Trustees are pleased to report a modest 7% growth in the number of adults choosing to use our services. Having recently recovered from the Covid-19 pandemic, this year has seen the Charity support record numbers of service users and sustain the highest turnover in its history. Not only has this enabled the Trustees to restore the Charity's unrestricted financial reserves to pre-pandemic levels, we have also been able to make substantial investments in our infrastructure in order to build our resilience and prepare for growth.

In May the Charity completed a staffing restructure to establish more robust management, creating a new Day Services Manager post with responsibility for the day-to-day running of its services. The newly formed senior team provides leadership to its staff and greater oversight in ensuring a high quality of care provision. This has also released the Chief Executive to focus on business development, fundraising, compliance and marketing, with the Charity already reaping the benefits. Discussions with Lewisham Council which will see the management of service users' daily transport provision pass to Brighter Horizons are already nearing completion, enabling the Charity to provide a holistic and more cost effective service to the families it supports.

Planning for the Charity's first website is well underway and the Trustees expect this to launch early in the next financial period. The Trustees are also pleased to report that the lease of premises from the London Borough of Lewisham to Downham Community Centre (Wesley Halls) has been extended to 2028. This stability means that we can now invest time in acquiring premises best suited to the needs of the people we support.

The Trustees are proud that Brighter Horizons is now a London Living Wage employer, as well as offering an enhanced pension scheme and level 3 funded training for all of its staff. This, coupled with the Charity's value-based approach has enabled us to grow our team to 20 people with no vacancies, compared to the 14% vacancy average within our sector. The single biggest factor affecting the quality of our service and the lives of the people we support are our staff and we are humbled to have such an exceptional team who go above and beyond every day.

Most importantly, we have seen firsthand the impact of our services on the people who rely on us. From the introduction of funded one-to-one support workers for adults who need them, to the opportunities that our ever-expanding activity programme provide, everything we do is in response to the needs of the adults who use our services and their parent-carers. Nothing exemplifies this more than our Annual Showcase which took place in October. Over 120 members of our wider family came to see our service users perform, some of whom had never spoken in public before. The swell of support from within our community was evident once more when our service users and families came together to fundraise for a powered wheelchair for Jamie. Jamie has been with Brighter Horizons since its inception 8 years ago and, up until now has only had use of a manually propelled chair. This extraordinary effort has meant that Jamie is now able to travel not just independently but side by side with his mum. Putting people first is at the heart of everything the Charity does.

The Trustees extend their sincere thanks to all the Charity's staff for their hard work, support and flexibility throughout a year of continuing change. The Trustees are also deeply grateful to the Trustees and staff of Downham Community Centre (Wesley Halls) and the PCC of St. John the Baptist, Catford for their support, without which we would be unable to support our families.

Kieran Lee Chair of Trustees

Page 1

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 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 ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

Page 2

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES

for the Year Ended 31 March 2023

OBJECTIVES AND ACTIVITIES Objectives and activities

Brighter Horizons main objective, as outlined in its Constitution, is to provide relief for individuals in need because of disability. This relief extends to the families, dependants and carers of disabled people and includes (but not exhaustively) the provision of care, treatment, education, and training. As such, it plays a key role in adult social care provision within the London Borough of Lewisham. To achieve its objective, Brighter Horizons operates a day centre for adults with learning and physical disabilities. The Charity: - adopts a person-centred approach to help its service users develop healthy relationships, independence, confidence, and life skills - delivers activities which are designed to improve physical and mental wellbeing and enable independence - actively promotes social inclusion and community integration through the daily provision of opportunities to access the local community - believes that activities which involve appropriate levels of risk taking are essential in providing meaningful learning experiences which contribute to adults with learning disabilities leading active and fulfilled lives - runs a parent-carer forum aiming to provide opportunities for mutual care and support as well as signposting to local services and personal development opportunities - measures success through the tracking and recognition of personal development goals, tailored to each client and through a set of impact and satisfaction matrices relating to each service users' personal circumstances. The Charity's short-term objectives are to secure long-term premises for the current day centre, to safeguard the transport offer provided to its service users by bringing it 'in-house', to diversify its income and to continue to provide high-quality services. Its long-term objectives are to increase the level of provision offered across southeast London through establishing a second day centre and by developing its own pathways into employment for neurodiverse adults and people with learning disabilities. The current day centre in Downham operates with three managers, 11 service delivery staff operating a 1:4 ratio (although this differs by activity, in order to meet the needs of service users) and 2 support staff. Additionally, the Charity has 6 bank staff who provide additional support and cover as required.

Access to the Charity's services is via self-referral or by a social worker or other appropriately qualified health and social care professional. The Charity provides service users with a flexible offer, designed to meet theirs and their families' changing needs. Service users can change their attendance and their weekly timetable as they require and the Charity is able to provide 1-2-1 support for clients where funding is available.

Offering long term placements within the social care sector, the Charity operates a weekly provision of activities across three curriculum strands; physical and emotional wellbeing, skills for life and the arts. Service users, together with their allocated key worker and other health and social care professionals, construct a personalised timetable of activities, carefully tailored to their personal preferences, needs and development targets.

The sports and wellbeing programme aims to push service users physically and help build confidence by overcoming self-imposed limitations. Additionally, it supports with weight loss, mental health and provides physiotherapy for muscular-skeletal and other conditions. The Charity works closely with local providers to offer specialist activities and by making public sporting appearances, service users also challenge the stigma that exists around people with learning disabilities taking part in sport. The programme includes activities such as martial arts, cheerleading, trampolining, cycling, swimming, yoga, golf and gym attendance.

The Skills for Life programme focuses on enhancing and developing functional skills such as handling money, preparing food, growing vegetables, eating out, using computers and developing communication. With 11 different activities each week, the programme builds independence, promotes good decision making and develops confidence in public settings.

Service users manage their own allotment and contribute to the daily running of the Day Centre. Additionally, they have the opportunity to go shopping and to the cinema regularly. The Charity also operates an annual calendar of seasonal events which include day trips, carol singing in the local community, theatrical performances and themed parties.

The Arts programme includes various forms of artistic self-expression, which is encouraged as a means of communication, therapy and to improve fine motor skills. Activities include various forms of dance, steel drums, drama, music recording, singing, arts and crafts and more.

The Charity maintains and operates two 17-seat accessible minibuses which enable the cost effective and safe delivery of its community-based provision.

Page 3

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

OBJECTIVES AND ACTIVITIES Public benefit

As a registered charity, the Trustees of Brighter Horizons give close regard to their obligations to report the public benefit of its charitable purposes as defined by the Charities Act 2011 and Charities (Accounts and Reports) Regulations 2008. The Trustees also consider that they have exercised due regard to the Charity Commission's Public Benefit Guidance when exercising their powers and duties, as outlined in the Charity's governing document.

Page 4

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

STRATEGIC REPORT

Achievement and performance

The Charity supported 72 people during the year, ending the year with 63 people regularly receiving care and support. The number of service users remained consistent at year-end, though the average number of hours of care provided per week increased by 7%. The Charity, working with parents and carers was able to secure additional funding to deliver more support hours for some it's existing service users. Additionally, the Charity now provides, for the first time, funded one-to-one support, having expanded its staff team to deliver this new service.

The Charity continues to develop a new impact framework to measure success in line with its aims and objectives and data from this is not yet available so it currently uses numerical and qualitative indicators for success. The Trustees are pleased to report an 86% retention rate with service users only leaving due to a change in their need, relocation or ill-health. The average attendance rate for the year was 81%, with absence largely due to medical reasons and long-term holidays both of which were higher than average following the hiatus of the Covid-19 pandemic. Both measures are interpreted as service users and families experiencing high levels of service satisfaction.

Having returned to normal levels of service following Covid-19, the Charity focused on diversifying its curriculum offer. Of particular note, the Charity delivered over 900 hours of sports provision, saw its cheerleading group Bright Starz perform locally and its ever-growing football team stay in the South London Special League. The Charity operates a heavily community-oriented programme and this year, it has been able to return to offering its full complement of over 35 activities each week. Bingo, golf, tennis, football training and jewellery making have all been added to its portfolio.

The Charity's supplementary curriculum focused on inclusion and diversity, providing new sensory spaces and Augmentative and Assistive Communication (AAC) aids. Additionally, the Charity's service users and their families came together to fundraise £4,000 for a new powered wheelchair for Jamie, who attends the Day Centre and who has cerebral palsy. The entire centre jointly cycled the distance from London to Brighton on a specially adapted bike and raised over £2,000 in sponsorship, with the remaining cost coming from grant funding. Being responsible citizens includes taking part in collective action and in actively undertaking sponsored activities, our service users have demonstrated that they are not passive recipients of financial support but themselves agents in bringing about positive change within the lives of others.

Cultural highlights included our first Eid & Diwali celebrations as well as an awareness of Pride month in June. Other successes from the year include the summer activity programme which provided access to opportunities otherwise prohibitive by transport, accessibility or cost such as sailing, theme parks and trampolining. The Charity also held its first Annual Showcase in 3 years with service users performing to friends and family. The performance, which showcased day-to-day life at Brighter Horizons sold out and was, without doubt, the highlight of the year. It included the first ever short film, conceived, featuring and produced by our service users.

The Charity continues to view all of the activities it provides as vehicles for developing communication skills, enhancing independence, achieving physical fitness, providing socialisation opportunities and building life skills. In line with the Charity's person-centred approach, the families of Joey, Rowan & Livvy, outline some of the impact that the Charity's services have had:

Page 5

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

In other developments, following the Charities rebrand in 2021, the Trustees have invested in marketing its services, beginning with a complete redesign of the it's minibuses. These, named Pac-van and Herbie, by the Charity's service users have contributed to a sense of fun and ownership as well as enhancing the Charity's presence locally.

The Trustees consider the return to a stable financial footing and the successful restructuring of its staff team to be the standout successes of the year. A new Day Services Manager has been appointed to support the Chief Executive and, subsequently, a senior management formed to ensure rigorous oversight of the Charity's services. The Trustees also consider the high level of staff retention (95%) to be indicative of the quality of provision and organisational culture.

Financial review

The Charity's income for the year was £614,108 (2022: £521,476), against expenditure of £573,259 (2022: £460,706), leading to a surplus of £40,849. This reflects an 18% increase in income against a 25% increase in expenditure compared to the last financial period. In the year ended March 2021, the Charity made a loss of £95,985. Therefore the surplus made in this financial period, in addition to the £60,770 surplus made in the last financial period, has meant that the Charity has replaced all of the reserves expended during the Covid-19 pandemic and placed the Charity in the strongest financial position since its inception.

The Trustees maintain a financial reserves policy of 3 - 4 months of operating costs and the balance carried forward reflects this. The Charity's unrestricted reserves at the end of the financial period total £243,784. Of this, £14,466 can only be realised through the disposal of tangible fixed assets. The Charity also holds £4,056 of restricted income. Consequently, the Trustees consider the Charity a going concern.

Having replenished the Charity's reserves, the Trustees still consider continued investment in the Charity's unrestricted reserves to be the immediate financial priority in order to sustain short-medium term costs of around £100,000. In addition to the procurement of a third minibus, the Trustees aim to take out two new rental leases within the next 24 - 36 months and consider that substantial reserves are required to facilitate both the leases and the resulting move of the Charity's services to new premises. Notwithstanding this, the Trustees also consider investment in staffing to be a priority in order to underpin the continued growth and infrastructure of the Charity.

Income is mainly generated through daily charges for the Charity's services with the majority resulting from direct payments administered directly by the London Borough of Lewisham. Other payments are received from the London Boroughs of Greenwich, Southwark and Bromley. A small number of service users administer their own direct payments or cover service charges themselves.

The Charity does not own and/or lease any land or property.

The Trustees continue to closely monitor the performance of the Charity's existing activities and consider the introduction of new services in order to further income diversification and to ensure the Charity has a sustainable future in a challenging funding environment.

Page 6

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

STRATEGIC REPORT

Plans for future periods

The Charity's long term objective, and in response to the limited statutory support services for adults with learning disabilities, is to open a second day centre for neurodiverse adults and people with mild-moderate learning disabilities in southeast London. The Trustees consider that the Charity's specialism lies in community engagement and active participation and as such, do not foresee broadening support for adults with severe and profound disabilities.

To achieve this, the Charity's short to medium term objectives are to secure new premises in advance of its current lease expiring at Downham Community Centre and to continue to restructure and resource its staff team amidst a challenging recruitment landscape. The Trustees also aim to diversify the Charity's income through the development of new services, principally through maximising income from the use of its minibuses by delivering its own transport service but also by offering employability services, in line with its expansion to multiple sites.

The Trustees also consider that the completion of the Charity's re-brand through the establishing of a digital presence, the development of a marketing strategy to reach across southeast London and the establishing of an impact measurement framework to be critical to its future plans.

Additionally, the Charity aims to develop its governance structures by recruiting a Treasurer to oversee its financial procedures alongside establishing an appropriate number of sub-committees to support the work of the Charity as it continues to grow. This includes establishing a service user forum which reports directly into the Board.

The Trustees aim to develop a comprehensive 3 - 5 strategy over the next 12 - 18 months.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is a Charitable Incorporated Organisation whose only voting members are its Trustees. It is governed by its Foundation Constitution.

The Charity has seven Trustees (members), who are elected every three years. Trustees cannot serve for more than nine years and convene at least four times per year. Each Trustee agrees to pay £1 in the event of the Charity being wound up.

The Trustees are responsible for governance, compliance, strategy, risk management, setting headline objectives and monitoring performance against these objectives. To this end, Trustees receive regular updates, including full reports on activities and financial information on a quarterly basis. Business planning and strategic plans are discussed and agreed by the Trustees at Board meetings.

All Trustees give their time voluntarily and receive no benefits from the Charity.

Recruitment and appointment of new Trustees

New Trustees are appointed following a thorough recruitment process, with appointments decided by the existing Trustees. Recruitment is undertaken on a skills basis with skills and knowledge gaps amongst existing Trustees identified and sought out within new Trustees. No new Trustees were appointed during the financial period.

Organisational structure

To facilitate effective operations, the Trustees employ a Chief Executive Officer (CEO) to whom they have delegated authority for the operational matters of the Charity. The CEO leads the staff team and is responsible for service performance, staff recruitment and management, logistical

and operational matters relating to the day-to-day running of the business and the financial performance of the Charity. In addition, he has delegated responsibility for ensuring that the Charity remains complaint with legislation, funders, insurers and other interested parties.

The CEO utilises the support of three senior staff and meets regularly with the Chair of Trustees. The Trustees are responsible for governance, compliance, strategy, risk management, setting headline objectives and monitoring performance against these objectives. To this end, Trustees receive regular updates, including full reports on activities and financial information on a quarterly basis. Business planning and strategic plans are discussed and agreed by the Trustees at Board meetings.

Page 7

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES for the Year Ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new Trustees

On appointment the Trustees sign a register of interests which is updated annually. At each meeting Trustees are asked to declare any conflicts of interest.Trustees' induction and ongoing involvement includes visits to the activities delivered by the Charity, meetings with Charity members, senior staff, and key external stakeholders. The Trustees also make available copies of the latest annual report and statement of accounts.

Related parties

Since its inception Brighter Horizons has enjoyed and appreciated a close relationship with The London Borough of Lewisham, its major funder and from whom most service user referrals are received. Brighter Horizons occupies its principal space under lease from Downham Community Centre (Wesley Halls) and views its location as being integral to providing services rooted in the local Downham community. The Charity also occupied a secondary space under lease from the Church of St. John the Baptist, Downham until November 2022 at which time the Charity terminated the lease.

Risk management

The Charity keeps and maintains a Trustees Register of Interests.

The Trustees retain and exercise their responsibility to assess the major risks to which the Charity is exposed, in particular those related to its finances and operations, and are satisfied that systems are in place to mitigate exposure to major risks. Additionally, the Trustees retain and exercise their responsibility for ensuring that the Charity has in place an appropriate system of controls, financial or otherwise, to provide reasonable assurance that the Charity is operating effectively and in line with Charity Commission guidelines.

To this end, an annual planning and budgeting process is in place and the Trustees have developed and implemented a risk management strategy. This strategy identifies significant risks, assess the likelihood of occurrence and potential impact, acknowledges current mitigations and outlines any actions necessary to manage the risk further. The strategy covers key areas such as safeguarding, health and safety, data protection as well as issues relating to governance, financial loss and compliance.

The Trustees consider that the major risks to the organisation are as follows:

The Trustees regularly review policies, procedures and strategies to ensure they are robust.

Page 8

BRIGHTER HORIZONS

REPORT OF THE TRUSTEES

for the Year Ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Management remuneration policy

The Chief Executive Officer (CEO) is appointed by the Trustees. Appointments at this level take into account the following factors:

All other staff are appointed by the CEO.

The Trustees retain and exercise their responsibility for setting pay for all employed posts. Pay is reviewed on an annual basis.

Equal opportunities

Brighter Horizons is committed to being an equal opportunities employer. The Charity is committed to ensuring that no job applicant or employee is discriminated against on the grounds of disability, race, religion, age, national origin, gender, sexual orientation, gender identity, gender expression or on any grounds which are unjustifiable in terms of equality of opportunity for all.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

CE019370 (England and Wales)

Registered Charity number

1186053

Registered office

Downham Community Centre 2 Shroffold Road Downham Bromley BR1 5PE

Trustees

O Ajayi R Chakraborty H Ghalegolabi K Lee M Mizen B O'Keeffe P A Thorn

Independent Examiner

H & E Johnson Chartered Accountants Sandall House 230 High Street Herne Bay Kent CT6 5AX

Page 9

INDEPEI¥DENT EXAMINER'S REPORT TO THE T BRIGIITER IIORIZ NS EE Indepemdent exAminerfs report to th¢ I￿Ste¢S of Brighter Horizons ('the Compothy? I report to the Chariry tnLStees on my examination of the ￿CoUnts of the Compan> forthe year ended 31 March 2023. Responsibilities and basis of re￿rt As the Charity s tnLStees of the Company {and a]50 its dirtttOTS for the pu￿0$e5 of company law) you are responsbi le for the preparation of the acco￿ts in accordance with the requirements of the Companies Act 2006 Cthe 2(M)6 Ad). Having $￿tsfied myself that th¢ accounts of the Company are not r4uired to be audited under Part 16 of the 2006 A¢t and are eligible for independent examination, I report in respett of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2UI I {'the 2011 Act). In carrying out m>. examinatitsn I have followed the Directions given by the Charity Comrnission under Section 145(5) (b) of the 2011 Aet. Independent examiner's st8temeDt Sinet your eharity's income cxcecdtd £250,(100 your exarniner must be a Jii¢iiiki' ora libtLYJ bLwJy. l 0￿fir[￿ thai l am qualified to ￿dertake the examination because l an) a member of the Institut¢ of Chartered Accountants in Englgnd 9nd Wales. which is one of the lisid bodie& I have completed rny examination. l eonfim that nij Matt￿ have come to my 2trenÉion in Connecti￿ with the examination giving n]e cause to believe: accounting rewrds were not kept in rtspe¢t of the Company &$ required by S￿tIOn 386 ofthe 2tK)6 ACL or th¢ a¢counts do not accord ￿Trth those rewTds,' or the aeeoLmts do not complv H'iih the a¢counting requirements of Se¢tion 396 of the 2006 Act other than any requiremeni that the accounts give a tNe and fair view. which is nirt a matter considered as part of an independent examination,. or the accounts have noi been prepared in aceord2nee with the methods and principles of the Ststement of Recornmeiided Practi¢¢ for aLLUUt)tin¥ and reponing by charities (appli￿b]e io charities preparing their a¢¢ounts in accordance with the Financial Reponing Standard applicable in the UK and Republic of Irejand IFRS 102)). I have nn toncerns and have come gtross no other Mstre￿ in etsnne¢tion wth the ex2mination to which ottention should be drawi in this report in order to enable a proper understanding of tbe accounts to be rea¢hed. Lln Simi)n Milbum FCA The Insti￿te of Chartcr¢d Accountants in cnglat￿ a￿d Wales H & E Johnson Chartered Accountants Sandall House 230 High Street Heme Bay Kent CF6 SAX Date.. 3b. l. lol Pagell

BRIGHTER HORIZONS

STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 March 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
606,407
Other trading activities
3
7,371
Investment income
4
330
Other income
-
Total
614,108
EXPENDITURE ON
Charitable activities
5
Care
573,259
Other
-
Total
573,259
NET INCOME
40,849
Transfers between funds
15
(718)
Net movement in funds
40,131
RECONCILIATION OF FUNDS
Total funds brought forward
203,653
TOTAL FUNDS CARRIED FORWARD
243,784		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
718
718
3,338
4,056		 2023
Total
funds
£
606,407
7,371
330
-
614,108
573,259
-
573,259
40,849
-
40,849
206,991
247,840		 2022
Total
funds
£
480,181
-
10
41,285
521,476
449,571
11,135
460,706
60,770
-
60,770
146,221
206,991

The notes form part of these financial statements

Page 12

BRIGHTER HORIZONS

BALANCE SHEET

31 March 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Intangible assets
11
667
Tangible assets
12
13,799
14,466
CURRENT ASSETS
Debtors
13
76,776
Cash at bank and in hand
186,396
263,172
CREDITORS
Amounts falling due within one year
14
(33,854)
NET CURRENT ASSETS
229,318
TOTAL ASSETS LESS CURRENT
LIABILITIES
243,784
NET ASSETS
243,784
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
-
4,056
4,056
-
4,056
4,056
4,056		 2023
Total
funds
£
667
13,799
14,466
76,776
190,452
267,228
(33,854)
233,374
247,840
247,840
243,784
4,056
247,840		 2022
Total
funds
£
-
18,399
18,399
21,590
185,677
207,267
(18,675)
188,592
206,991
206,991
203,653
3,338
206,991

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 13

BRIGHTER HORIZONS

CASH FLOW STATEMENT for the Year Ended 31 March 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of intangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
£
5,445
5,445
(1,000)
330
(670)
4,775
185,677
190,452		 2022
£
79,169
79,169
-
10
10
79,179
106,498
185,677

The notes form part of these financial statements

Page 15

BRIGHTER HORIZONS

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 31 March 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2023 2022
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 40,849 60,770
Adjustments for:
Depreciation charges 4,933 6,134
Interest received (330) (10)
(Increase)/decrease in debtors (55,186) 19,299
Increase/(decrease) in creditors 15,179 (7,024)
Net cash provided by operations 5,445 79,169

2.

ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.22 Cash flow At 31.3.23
£ £ £
Net cash
Cash at bank and in hand 185,677 4,775 190,452
185,677 4,775 190,452
Total 185,677 4,775 190,452

The notes form part of these financial statements

Page 16

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 March 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 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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

All 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.

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 cost 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on cost Motor vehicles - 25% on reducing balance Computer equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 17

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

2.
DONATIONS AND LEGACIES
Donations
Grants
Local authority funding
Service user funding
Grants received, included in the above, are as follows:
Other grants
3.
OTHER TRADING ACTIVITIES
Fundraising events
4.
INVESTMENT INCOME
Deposit account interest
5.
CHARITABLE ACTIVITIES COSTS
Care
6.
SUPPORT COSTS
Management
£
Care
133,466		 2023
£
-
-
569,188
37,219
606,407
2023
£
-
2023
£
7,371
2023
£
330
Support
Direct
costs (see
Costs
note 6)
£
£
414,076
159,183
Governance
Finance
costs
£
£
334
25,383		 2022
£
330
8,457
436,724
34,670
480,181
2022
£
8,457
2022
£
-
2022
£
10
Totals
£
573,259
Totals
£
159,183

Page 18

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 March 2023

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Depreciation - owned assets 4,600 6,134
Other operating leases 32,913 40,428
Computer software amortisation 333 -

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

9. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2023
£
364,300
25,656
6,895
396,851		 2022
£
316,773
21,667
5,833
344,273

The average monthly number of employees during the year was as follows:

Day service staff
Office support
Bank support staff		 2023
12
2
6
20		 2022
10
2
6
18

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
480,181
Investment income
10
Other income
41,285
Total
521,476		 Restricted
fund
£
-
-
-
-		 Total
funds
£
480,181
10
41,285
521,476

EXPENDITURE ON

Page 19

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued ACTIVITIES - continued
Unrestricted Restricted Total
fund fund funds
£ £ £
Charitable activities
Care 449,571 - 449,571
Other 11,135 - 11,135
Total 460,706 - 460,706
NET INCOME 60,770 - 60,770
Transfers between funds (3,338) 3,338 -
Net movement in funds 57,432 3,338 60,770
RECONCILIATION OF FUNDS
Total funds brought forward 146,221 - 146,221
TOTAL FUNDS CARRIED FORWARD 203,653 3,338 206,991
11. INTANGIBLE FIXED ASSETS
Computer
software
£
COST
Additions 1,000
AMORTISATION
Charge for year 333
NET BOOK VALUE
At 31 March 2023 667
At 31 March 2022 -
12. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 April 2022 and 31 March 2023 284 63,874 10,762 74,920
DEPRECIATION
At 1 April 2022 234 48,716 7,571 56,521
Charge for year 13 3,789 798 4,600
At 31 March 2023 247 52,505 8,369 61,121
NET BOOK VALUE
At 31 March 2023 37 11,369 2,393 13,799
At 31 March 2022 50 15,158 3,191 18,399

Page 20

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Local authority funders
Staff advances
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Pension creditor
Net wages
Accrued expenses
15.
MOVEMENT IN FUNDS
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
203,653
40,849
Restricted funds
Service user fund
3,338
-
TOTAL FUNDS
206,991
40,849
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
614,108
TOTAL FUNDS
614,108		 2023
2022
£
£
64,830
21,150
1,160
440
10,786
-
76,776
21,590
2023
2022
£
£
17,191
1,996
6,968
6,488
943
936
1,442
1,204
10
151
7,300
7,900
33,854
18,675
Transfers
between
At
funds
31.3.23
£
£
(718)
243,784
718
4,056
-
247,840
Resources
Movement
expended
in funds
£
£
(573,259)
40,849
(573,259)
40,849

Page 21

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
146,221
60,770
Restricted funds
Service user fund
-
-
TOTAL FUNDS
146,221
60,770
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
521,476
TOTAL FUNDS
521,476
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
146,221
101,619
Restricted funds
Service user fund
-
-
TOTAL FUNDS
146,221
101,619		 Transfers
between
At
funds
31.3.22
£
£
(3,338)
203,653
3,338
3,338
-
206,991
Resources
Movement
expended
in funds
£
£
(460,706)
60,770
(460,706)
60,770
Transfers
between
At
funds
31.3.23
£
£
(4,056)
243,784
4,056
4,056
-
247,840

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,135,584 (1,033,965) 101,619
TOTAL FUNDS 1,135,584 (1,033,965) 101,619

Page 22

BRIGHTER HORIZONS

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2023

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 23

BRIGHTER HORIZONS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Local authority funding
Service user funding
Other trading activities
Fundraising events
Investment income
Deposit account interest
Other income
Covid support payments
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Other operating leases
Health insurance
Travel & subsistence
Transport
Activities
Personal care
SMP recovery
Motor expenses
Support costs
Management
Wages
Social security
Pensions
Telephone
Postage and stationery
Advertising
Sundries
Office expenses
Carried forward		 2023
£
-
-
569,188
37,219
606,407
7,371
330
-
614,108
288,637
17,300
4,859
32,913
1,663
1,563
8,585
43,361
220
-
14,975
414,076
75,663
8,356
2,036
970
1,908
1,189
(118)
7,054
97,058		 2022
£
330
8,457
436,724
34,670
480,181
-
10
41,285
521,476
245,497
14,272
4,069
40,428
518
617
6,134
20,326
1,133
(1,430)
-
331,564
71,276
7,395
1,764
1,966
2,097
-
251
6,339
91,088

This page does not form part of the statutory financial statements

Page 24

BRIGHTER HORIZONS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 31 March 2023

Management
Brought forward
Computer expenses
Staff welfare
Insurance
Cleaning
Staff training
Licences & subscriptions
Computer software
Plant and machinery
Motor vehicles
Computer equipment
Finance
Bank charges
HMRC interest
Other
Sundries
Governance costs
Accountancy fees
Legal fees
Subscriptions
Total resources expended
Net income		 2023
£
97,058
9,375
1,131
4,719
2,075
12,787
1,388
333
13
3,789
798
133,466
250
84
334
-
3,800
21,583
-
25,383
573,259
40,849		 2022
£
91,088
8,270
258
7,365
1,996
2,640
-
-
17
5,053
1,064
117,751
15
34
49
207
3,960
6,954
221
11,135
460,706
60,770

This page does not form part of the statutory financial statements

Page 25