**Charity registration number 1186158**
## **THINK18**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **THINK18**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|T Denison||
|---|---|---|
||J P Kavanagh||
||H L Jellard||
||R Deans||
||R Adams|(Appointed 13 June 2022)|
|**Charity number**|1186158||
|**Principal address**|2 Home Farm Court||
||Shillinglee||
||Godalming||
||Surrey||
||GU8 4SY||
|**Independent examiner**|Jordan Abbott BSc ACA||
||Carpenter Box Jones Avens||
||Piper House 4 Dukes Court||
||Bognor Road||
||Chichester||
||West Sussex||
||PO19 8FX||
## **THINK18**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10 - 20|
## **THINK18**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution (adopted 31 August 2019, revised July 2021), the Charities Act 2011 and "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).
## **Objectives and activities**
THINK18 is the concept of Teresa (Tessa) Denison. Tessa’s daughter Rosie, who has Down Syndrome, and her friends are reaching a stage in their lives where they are seeking to build a wide range of experiences and create new friendships.
The purpose of THINK18 is to relieve the needs and promote the social inclusion of young people and adults (aged 16-35) with learning disabilities, in such ways as the Trustees shall think fit and promote the social inclusion of such young adults who are socially excluded as a result of their age and learning disability, in particular but not exclusively by offering advice, support and opportunities for social interaction, recreational and other activities designed to promote their independence, improve their conditions of life and prevent them from becoming socially excluded.
The values at the heart of everything we do are: putting young people first; inclusion; creativity; respect; networking; integrity
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Executive Summary**
This report covers the period 1st June 2022 to 31th July 2023.
THINK18 aims to provide benefit to young people with learning disabilities in, primarily West Sussex but not excluding other UK young adults: enabling young people with learning disabilities to transition to adulthood with the help of targeted activities. Our key objective is to relieve the needs and promote the social inclusion of young adults (aged 16-35) with learning disabilities.
Our values are at the heart of everything we do: putting young people first; inclusion; creativity; respect; networking; integrity.
The Charity is governed by the Board of Trustees, supported by committees and working groups. We do not employ staff but use a wide range of independent contractors to deliver services and provide administration support. We also have a growing number of volunteers. Trustees, volunteers and independent contractors are DBS screened and have completed safeguarding and first aid training where required.
Our accounting balance at 31/07/2023 is £81,156 (£12,370 restricted funds, £68,786 unrestricted funds). Our reserves policy requires that we retain sufficient reserve funds to run for 6 months, and currently £38,500 is kept in reserve to reflect this.
During the period, THINK18 has seen continued rapidly. We now have 99 members and offering 7 online activities and 1 in person activity every week, as well as THINKOUT 3 days per week, and other events for young adults with learning disabilities, their carers and families.
- 1 -
## **THINK18**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
At the time of this report, Trustees are working with a new provider for the activities provided through the THINKOUT project. It is expected the transition will be complete by September 2023. This will lead to a significant adjustment to the charity’s activities and subsequent reduction in operating income and expenditure.
Footnote: Since September 2023 the ThinkOut project is no longer linked with THINK18 in any way and is no longer part of THINK18’s portfolio. It has been rebranded as TOC, which is its own independent Community Interest Company. (ThinkOut was being led by Hilary Freeborough, who at the time was a Trustee for THINK18. Hilary decided to break away from THINK18 in July 2023, taking the ThinkOut project with her and at the same time resigning her Trustee position with THINK18.)
Consequently, THINK18 will see a reduction in operating income/expenditure, as this project reflected approximately 72% of the income for the year 22-23.
For the future, we have identified the following priorities to develop THINK18 as a Charitable Incorporated Organisation (CIO) and strengthen our ability to deliver our objectives:
- Continue offering social activities in a safe environment
- Consolidate our activities to extend the benefits to a growing number of young adults both preparing to leave and having left education
- Review our Trustee responsibilities, including to seek a Treasurer further to the retirement as a Trustee of Jessica Denison
- Develop and extend our pool of volunteers
- Develop our parent/carer committee to understand and respond to problems and issues
- Set up a young adults’ ‘Voices’ committee to feedback new ideas in fundraising, wellbeing, activities and other aspects of THINK18
## **Aims**
- To support young people with learning disabilities with the transition to adulthood and onwards through offering ongoing opportunities for their health and wellbeing and to help them to live, learn and work in their communities.
- To enable these young people to be offered a range of exciting and valuable social networking opportunities in local, accessible places and through online platforms such as Zoom, WhatsApp.
- To encourage greater involvement between young adults with and without disabilities through suitably trained, age appropriate, volunteering, coaching and activity leadership.
- To ensure all young adults with learning disabilities, whatever their personal circumstances, can access THINK18 activities, for example: by enabling suitable transport and bursaries.
- Offer parents/carers a vibrant and supportive network to share experiences, ideas and learning opportunities through formal sessions and informal social events.
THINK18 has grown and developed significantly since its first activities in October 2019, establishing networks with young adults, their families and friends, local schools and colleges, and other organisations and providers to offer high quality, consistent opportunities for social interaction, learning and fun.
**Beneficiaries:** At July 2023 THINK18 had 99 young adult members with moderate to severe learning disabilities.
## **Activities**
## **In Person Social Activities**
THINK18 began with the aim to offer social activities using local premises. We have since worked with an experienced charity The halow Project to deliver a monthly Thursday club and to support us in our early development. Since May 2020, initiated as result of Covid-19 we have been offering our ZOOM activities. Our weekly Saturday morning face to face activities include sports activities, drama, music, art and sports enabling us to currently accommodate 28-30 participants weekly.
https://www.think18.org.uk/sat-activities/
We also arrange regular Pub Nights, Cinema and Theatre trips, workshops, alongside Summer camping and various sport, art and music activities throughout the summer. We have introduced our young adults to new experiences including basketball, judo, dance workshops and performance workshops.
- 2 -
**TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **THINK18**
## **THINKZOOM**
At Home began in April 2020 as a response to the COVID 19 restrictions. From April 2021, 7 sessions per week are held online using Zoom - around 300 sessions in total during this past year.
https://www.think18.org.uk/online-activites/
A growing list of activities are held online, working with accredited teachers:
**THINKDRAMA, THINKDANCE, THINKART, VIRTUAL DRINKS, THINKSING, THINKDRUM, THINKHEALTH, THINKSPORT, THINKYOGA and THINKMUSIC** . Our online activities are very popular, with 12-28 participants at each session, and at times significantly more -
“I have really enjoyed Think Drama, Think Dance and the drinks evening. it has helped me so much in the lockdown and it has helped me to gain confidence in myself. I have also enjoyed meeting new people. Think Dance has given me so much confidence in my dancing and Think Drama has helped me to get into character.The Drinks evening is amazing and I can dress up and show off my outfits and show my talents.” THINK18 member
**Family events** : THINK18 offer ‘unsupported’ events throughout the year, attended by young adults with parents/ carers, other family members and friends.
2023 we have built new relationships with third party providers who run some engaging activities. Jan – April a local sports company introduced some basketball sessions in Jan/Feb 23. We ran a feltmaking day in Feb with a local arts provider, introduced a ‘Soundbath’ into our activities, invited Stopgap Dance to run a workshop at Chichester Uni and took a coach of young adults to Paultons Park. During the following months we gave our young adults the opportunity to play in a rock band, hosted a family picnic with karaoke and games, practiced storey massage, we joined forces with halow to run a sports afternoon and went to an interactive theatre trip involving puppets and mythological beasts. Recently we have run a hugely successful 3 day camping weekend for young adults and their parents with over 80 people attending and 8+ volunteers and taken families and young adults to ‘The Sound of Music’.
**THINKOUT:** THINKOUT is all about living, learning and working in the community, offering young adults the chance to identify hopes and dreams, and take steps towards them through volunteering, work experience and apprenticeships. THINKOUT was established in September 2021, opening 1 day per week for 15 participants. From January 2022, THINKOUT grew to offer 3 days per week, which has continued successfully throughout the remaining period of this report.
THINKOUT is commissioned by West Sussex County Council as an Alternative Provider.
At the time of this report, Trustees are working with a new provider for the activities provided through the THINKOUT project. It is expected the transition will be complete by September 2023. This will lead to a significant adjustment to the charity’s activities and subsequent reduction in operating income and expenditure.
## **Other Activities** :
We ran, in 2023, an introduction to Adaptive Judo for learning disabilities with the British Judo Team. We also put on a performance of ‘The Little Mermaid’ with our newly collaborated ‘Holly King Performance Academy’.
- 3 -
## **THINK18**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Volunteers**
As well as paying contractors to support THINK18’s work (e.g. tutoring for At Home, managing and delivering THINKOUT, administration and operations), THINK18 depends on a team of volunteers who operate at all levels of the organisation.
Tessa, the founder and trustee, volunteers full time as Think18 Co-ordinator, and other trustees are also actively involved in the running of THINK18. In addition volunteers help with marketing and social media, administration and direct delivery support (9-10 volunteers currently contribute a total of 17-20 hours per week to support At Home and Saturday Club activities). We have a rota for our Saturday Activities involving over 12 volunteers who give support on a monthly basis. This is made up of parents with the lived experience and additional people who would like to help make a difference in our community.
We estimate that our average contribution from volunteers is 69hrs per week: 38hrs Charity co-ordinator (Tessa); 12.5hrs from Trustees in a range of roles; 18.5 hrs volunteers supporting delivery of activities.
## **Policies and Procedures**
THINK18 has core policies and procedures in place and revises them regularly (dates in brackets are when each was last reviewed):
- Business Plan (March 2023)
- • Complaints (Apr 2021) • Confidentiality (Sep 2021)
- Conflicts of Interest (June 2021)
- • Contractors Handbook (May 2021)
- Data Protection (June 2021)
- Disposals (June 202)
- • E Safety (Nov 2021)
- Equal Opportunities and Inclusion (Apr 2021)
- • Ethical Fundraising (June 2022)
- Financial Management (Feb 2021)
- • Health & Safety (May 2021)
- IT and Cyber (Sep 2021)
- Safeguarding (May 2021)
- Trustee Recruitment & Induction (Jun 2021)
- Volunteer Handbook (May 2021)
## **Financial review**
**THINK18** work is funded through fundraising, grants and donations both from individuals and organisations.
This our fourth set of accounts covers the period 1st April 2022 to Mar 31st 2023. During this period we received £29,000 in restricted and unrestricted grants. From Apr-June we raised a further £2,500 in restricted/unrestricted funds for THINKI8 projects and administration.
Our accounting balance at the end of the accounting year 31/03/2023 was £79,129 (£13,653 restricted funds, £65,476 unrestricted funds).
Our accounting balance at 31/07/2023 is £81,156 (£12,370 restricted funds, £68,786 unrestricted funds). Our reserves policy requires that we retain sufficient reserve funds to run for 6 months, and currently £38,500 is kept in reserve to reflect this.
- 4 -
## **THINK18**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
Our accounting balance at the end of the accounting year 31/03/2022 was £82,655 (£36,216 restricted funds, £46,439 unrestricted funds).
Our accounting balance at 30/06/2022 is £78,360 (£21,958 restricted funds, £56,402 unrestricted funds). Our reserves policy requires that we retain sufficient reserve funds to run for 6 months, and currently £38,500 is kept in reserve to reflect this.
## **Trading and Tax:**
**THINK18** is aware of the Charity Commission guidance: ‘Trustee trading and tax: how charities may lawfully trade’. **THINK18** will only trade in pursuit of its charitable objectives. The Trust acknowledges restrictions on engaging in trades and will not engage in such commercially- oriented trades where a significant risk to its assets would be involved.
**THINK18** will not undertake any activities that may be subject to income tax, only undertaking activities that fall into one of the following charity law categories:
- ‘primary purpose trading’
- ‘ancillary trading’
- ‘non-primary purpose trading’ that does not involve significant risk to the resources of the charity
-
**THINK18** is not registered for VAT with HMRC as cash flow is currently below the threshold for registration.
## **Structure, governance and management**
THINK18 is a Charitable Incorporated Organisation. We have a constitution and are governed by a Board of Trustees, supported by working groups. Trustees oversee and monitor fundraising activities and use of funds to deliver the objects of the charity; managing any associated risks and following the Charity Commission’s guidance on Public Benefit.
|The trustees who served during the year and up to the date of signature of the financial statements were:|The trustees who served during the year and up to the date of signature of the financial statements were:|
|---|---|
|T Denison||
|J P Kavanagh||
|H A Freeborough|(Resigned 24 July 2023)|
|H L Jellard||
|J A Denison|(Retired 31 March 2023)|
|R Deans||
|R Adams|(Appointed 13 June 2022)|
The initial trustees were found and selected by the founder Teresa Denison, appointed in April 2019 and agreed in the constitution of August 2019. Additional Trustees have been sought to further the knowledge and expertise of THINK18 in meeting our needs as the charity has grown. Recruitment is through public advertisements, volunteering organisations, word of mouth, and selection interview.
New Trustees receive the Trustee Handbook, the Constitution, Trustees’ Annual Report & Financial Statements, policies, and recent Trustees’ meeting minutes.
Tessa Denison stood down as Chair of the Board of Trustees in March 2023 and Robert Deans was voted in by Trustees as the new Chair at the same time.
- 5 -
## **THINK18**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **Working Groups:**
Working groups are set up as needed to support activities - e.g. fundraising, volunteer recruitment and management, policies and procedures, development/delivery of THINK18 activities
## **Delegated Responsibilities:**
THINK18 does not employ staff. However, we use a range of independent contractors to provide services for our young adult members and for administration support. In addition, we directly recruit and support a growing number of volunteers.
Trustees, volunteers and independent contractors are DBS screened and have completed safeguarding and first aid training where required.
The trustees' report was approved by the Board of Trustees.
.............................. R Deans **Chair**
8th January 2024 Date: .............................................
- 6 -
## **THINK18**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THINK18**
I report to the trustees on my examination of the financial statements of THINK18 (the charity) for the year ended 31 March 2023.
## **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 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 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 financial statements to be reached.
## **Jordan Abbott BSc ACA**
Carpenter Box Jones Avens Piper House 4 Dukes Court Bognor Road Chichester West Sussex PO19 8FX
Dated: .........................
Carpenter Box Jones Avens is the trading name of Jones Avens Limited
- 7 -
## **THINK18**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and
legacies
**3**
19,932
29,000
Charitable activities
**4**
97,728
-
**Total income**
117,660
29,000
**Expenditure on:**
Charitable activities
**5**
98,623
51,563
**Net income/(expenditure)**
**for the year/**
**Net movement in funds**
19,037
(22,563)
Fund balances at 1 April
2022
46,439
36,216
**Fund balances at 31**
**March 2023**
65,476
13,653|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
48,932
40,828
58,840
97,728
33,708
-
146,660
74,536
58,840
150,186
53,827
36,094
(3,526)
20,709
22,746
82,655
25,730
13,470
79,129
46,439
36,216|**Total**
**2022**
**£**
99,668
33,708|
|---|---|---|
|||133,376|
|||89,921|
|||43,455
39,200|
|||82,655|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 8 -
## **THINK18**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**13**
Unrestricted funds|**2023**
**£**
1,270
77,340
78,610
(2,392)|**2022**
**£**
**£**
2,911
1,980
86,847
88,827
(11,995)
76,218
79,129
13,653
65,476
79,129|**£**
5,823
76,832|
|---|---|---|---|
||||82,655|
||||36,216
46,439|
||||82,655|
The financial statements were approved by the Trustees on .........................
.............................. R Deans
## **Trustee**
- 9 -
## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **Charity information**
THINK18 is a Charitable Incorporated Organisation (CIO) registered in England and Wales (number 1186158).
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 10 -
## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers 3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 11 -
## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 12 -
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## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **4 Charitable activities**
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Membership Contributions towards Activities|97,728|33,708|
## **Charitable trading income**
## **5 Charitable activities**
|Depreciation and impairment
Charitable expenditure general
Activity Leaders, Instructors and Support Team
Think Out Charitable Expenditure
Young adults events
Rent and venue hire
Think Out Leaders, Instructors and Support Team
Share of support costs (see note 6)
Share of governance costs (see note 6)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2023**
**£**
2,913
15,537
6,941
22,656
2,238
9,638
51,395
111,318
15,221
23,647
150,186
98,623
51,563
150,186|**2022**
**£**
2,912
5,823
6,184
25,658
3,115
5,690
8,788|
|---|---|---|
|||58,170
30,201
1,550|
|||89,921|
|||53,827
36,094|
|||89,921|
- 14 -
## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
## **6 Support costs**
|**Support costs**|||
|---|---|---|
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Marketing/publicity
-
-
Fundraising expenses
1,508
-
Administrative fees
2,399
21,587
Office and administration
7,938
-
Volunteer and travel
2,784
-
Sundry
592
-
Accountancy
-
2,060
15,221
23,647
Analysed between
Charitable activities
15,221
23,647|**2023**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
-
564
-
1,508
1,037
-
23,986
20,445
-
7,938
5,547
-
2,784
2,211
-
592
397
-
2,060
-
1,550
38,868
30,201
1,550
38,868
30,201
1,550|**2022**
**£**
564
1,037
20,445
5,547
2,211
397
1,550|
|||31,751|
|||31,751|
Governance costs includes payments to the accountants of £650 (2022- £650) for an independent examination and £900 (2022- £900) for other services.
## **7 Trustees**
- During the year one Trustee was reimbursed mileage of £1,393 (2022 £592) and office and phone costs of £375 (2022 - £250).
## **8 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
## **9 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 15 -
## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**10**
**Tangible fixed assets**
**Cost**
At 1 April 2022
At 31 March 2023
**Depreciation and impairment**
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
**Carrying amount**
At 31 March 2023
At 31 March 2022
**11**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
**12**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Computers**
**£**
8,735
8,735
2,912
2,912
5,824
2,911
5,823
**2023**
**2022**
**£**
**£**
1,270
1,980
**2023**
**2022**
**£**
**£**
2,392
11,995|**Computers**
**£**
8,735
8,735
2,912
2,912
5,824
2,911
5,823
**2023**
**2022**
**£**
**£**
1,270
1,980
**2023**
**2022**
**£**
**£**
2,392
11,995|
|---|---|---|
|||8,735|
|||2,912
2,912|
|||5,824|
|||2,911|
|||5,823|
|||**2022**
**£**
1,980|
|||**2022**
**£**
11,995|
- 16 -
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## **THINK18**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2023**_
|**14**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
March 2023 are
represented by:
Tangible assets
2,911
-
Current assets/(liabilities)
62,563
13,655
65,474
13,655|**Total Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
2,911
5,823
-
76,218
40,616
36,216
79,129
46,439
36,216|**Total**
**2022**
**£**
5,823
76,832|
|---|---|---|
|||82,655|
## **15 Related party transactions**
- During the year the charity paid a total of £10,730 (2022 Nil) to Hilary Freeborough, a trustee of the charity, for providing contractor services relating to one of the charity's activities. The charity also paid a total of £1,238 (2022 - £137) to Louis Denison-Foster, the son of Tessa Denison, a trustee of the charity, for providing similar contractor services. The transactions took place under normal market conditions. No trustee received remuneration for their services as a Trustees.
## **16 After date events**
Since September 2023 the ThinkOut project is no longer linked with THINK18 in any way and is no longer part of THINK18’s portfolio. Consequently, THINK18 will see a reduction in operating income/expenditure following the year end, as this project reflected approximately 72% of the income for the year 22-23.
- 20 -