CHARITY REGISTRATION NUMBER: 1189169
SOULMATES ACADEMY FOUNDATION
Annual Report
5 April 2021
Page Trustees' annual report 1 Statement of financial activities 4 Statement of financial position 5 Notes to the financial statements 6
The trustees present their report and the financial statements of the charity for the year ended 5 April 2021.
Reference and administrative details
Registered charity name SOULMATES ACADEMY FOUNDATION
Charity registration number 1189169
Principal office Kingfisher House Hurstwood Grange
Hurstwood Lane Haywards Heath West Sussex RH17 7QX
The trustees
Jeremy G Lindley (Chair) (Appointed 23 April 2020)
Andrea M Taylor-Cummings (Appointed 23 April 2020)
Jonathan E Taylor-Cummings (Appointed 23 April 2020)
Wendy J Grafton (Appointed 23 April 2020)
Gary R Hamilton (Appointed 17 January 2021)
Objects of the charity and review of the principal activities
The charity was incorporated on 23 April 2020 with a CIO registration and is therefore governed by its CIO constitution. The principal activities of the charity are TO ADVANCE THE EDUCATION OF THE PUBLIC IN THE SUBJECT OF BUILDING STRONG, HEALTHY RELATIONSHIPS IN GENERAL AND MARRIAGES, CIVIL PARTNERSHIPS AND OTHER LONG-TERM COMMITTED PARTNERSHIPS IN PARTICULAR.
Policy and operating decisions of the charity rest with the Trustees
In this, the first full year of operating, the Trustees met on several occasions to set policies, agree the strategic direction of the charity, agree budgets, discuss operational activity and to monitor the financial position. All activities of the charity this year have been led and undertaken by volunteers.
Vision and Mission
Soulmates Academy Foundation has a vision to see everyone equipped to do relationships well. We believe that all relationships face a common set of fundamental hurdles, but that people can be proactively equipped to overcome these and build quality relationships. By helping people do relationships well, especially at home, we hope to rebuild health and resilience in individuals and couples, families and society at large, resulting in improved emotional and mental health statistics and reduced family breakdown and divorce rates.
Our ten-year goal is to help equip 1,000,000 people with the skills to build stronger relationships. We seek to do that by equipping individuals with the fundamentals of relationship skills so that they turn up better to relationships, have better conversations and achieve better outcomes.
Our current mission is to deliver practical, accessible and relevant content for Individuals and Couples, working through Community Organisations and Schools/Colleges.
Review of the year’s key activities
Funding
• In this first year we have focused on building a funding base to begin the journey of equipping people. By year end, we are grateful to have secured a total of 6 regular funders giving a combined amount of £945 per month.
- We registered the charity to receive gift aid.
Platform Build
• We commissioned a digital strategy agency to help us create a web presence and the technical infrastructure for running webinars and other virtual sessions. With their help, we have developed a consistent social media presence on Facebook, Instagram, Twitter and LinkedIn.
• We applied for and were awarded a grant of £10,000 per month to run adverts on Google, currently being used to drive traffic to our website.
Resource Development
• We created a free, automated webinar, available on-demand, to raise awareness of the fundamentals required for successful relationships.
• We created an online 6-module self-teach course to help people develop the four fundamental habits for successful relationships. The course is currently available through our website on a “pay what you can” basis.
- We began the process of developing a small group resource for churches.
COVID-19 Response
• We created a series of eight 15-minute live virtual sessions to support people across the nation in their relationships, through life under lockdown. This was attended by people from across the UK in addition to having global reach (in particular in the USA and Jamaica).
• We ran a three-week webinar series for St Albans Vineyard Church to support relationships in their congregation during the early stages of life under lockdown.
Profile Building & Strategic Alliances
• Our co-founders were invited to be guest interviewees on a number of podcasts and Radio / TV shows (Revelation TV, Premier Christian Radio, Premier Gospel).
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Our co-founders are regular invited guests to the Westminster-based All Party Parliamentary
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Group focused on Strengthening Couple Relationships and Reducing Inter-parental Conflict.
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Our co-founders have been invited to become part of the Marriage Strategy Forum, an
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exclusive group of Christian charities considered leaders in the field of marriage and relationships. • The charity Care for the Family have been very generous with their time and advice in helping us develop the small group resource for churches, with offers of ongoing support as we continue to develop this in the year ahead.
Future Developments
The focus for the financial year 2021/22 will be on finalising developments of, and launching, the small group resource for churches, complete with workbooks and facilitator packs. Thereafter, we plan to create and roll out similar materials for a wider range of community groups.
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Speed of implementation will depend to a greater extent on finding the right external partners
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and resources to help bring it to life.
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As at year-end, three churches have already agreed to pilot this material when it is available
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(anticipated Q2 2022).
Policy Development
Conflict of Interest Policy
This was developed in line with best practice and is monitored at the start of each Trustee meeting.
Safeguarding Policy (Vulnerable Adults)
The Trustees implemented a policy for the protection of Vulnerable Adults during the year in line with best practice.
Other Policies
In line with Charity Commission guidelines the Directors have also developed and monitor the following policies: Volunteer Policy, Paying Staff Policy, Lone Workers Policy, Expenses Policy, Complaints Policy.
Risks
The charity has assessed risks and prioritised the principal ones, each of which are allocated to a Trustee for mitigation and monitoring. The principal risks were assessed to be related to data security. The Charity is in the process of identifying best practice and implementing appropriate data security protocols.
Financial Review
The financial statements set out on pages 4-9 show an income of £15,704 and expenses of £9,182. Balance at year end was £6,522.
Reporting Accountants
PRB Accountants have agreed to review and prepare the Charity’s accounts, as part of their pro bono services.
The trustees' annual report was approved on 03.02.22 and signed on behalf of the board of trustees by:
J G Lindley Chair of Trustees
2021 Total funds Note £ Income and endowments Donations and legacies 4 15,704 ---------------------------- Total income 15,704 ============================ Expenditure Expenditure on charitable activities 5,6 9,182 ---------------------------- Total expenditure 9,182 ============================ ---------------------------- Net income and net movement in funds 6,522 ============================ Reconciliation of funds Total funds brought forward – Net income for the period 6,522 ---------------------------- Total funds carried forward 6,522 ============================ The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 2021 Note £ Current assets Cash at bank and in hand 6,522 ------------------------ Net current assets 6,522 ------------------------ Total assets less current liabilities 6,522 ========================
These financial statements were approved by the board of trustees and authorised for issue on 03.02.22 and are signed on behalf of the board by:
J G Lindley Chair of Trustees
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is a charitable incorporated organisation (CIO). The address of the principal office is Kingfisher House, Hurstwood Grange, Hurstwood Lane, Haywards Heath, West Sussex RH17 7QX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the
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gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
· income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
· income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
· expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
· expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
· other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Total Funds 2021 | ||
|---|---|---|
| £ | ||
| Donations | ||
| Donations | ||
| 14,685 | ||
| Gifts | ||
| Gift aid | ||
| 1,019 | ||
| ---------------------------- | ||
| 15,704 | ||
| ============================ | ||
| 5. | Expenditure on charitable activities by fund type | |
| Total Funds 2021 | ||
| £ | ||
| Unrestricted funds | ||
| 9,182 | ||
| ============================ | ||
| 6. | Expenditure on charitable activities by activity type | |
| Activities undertaken directly | ||
| Total funds 2021 | ||
| £ | ||
| £ | ||
| Support | costs | |
| 9,182 | ||
| 9,182 | ||
| ======================== | ||
| ======================== | ||
| 7. | Staff costs | |
| There were no staff costs during the period. | ||
| The average head count of employees during the year was Nil. | ||
| 8. | Trustee remuneration and expenses | |
| No remuneration of or expenses were paid to trustees during the period. |