ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023
THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
CHARITY REGISTRATION No: 1189583
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
CONTENTS
| Page 3 | Legal & Administrative Information |
|---|---|
| Pages 4 to 7 | Trustees' Report |
| Page 8 | Statement of Financial Activities |
| Page 9 | Balance Sheet |
| Pages 10 to 16 | Notes to the Financial Statements |
| Page 17 | Independent Examiner's Report |
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER 1189583 DATE OF REGISTRATION 20th May 2020 START OF FINANCIAL YEAR 1st June 2022 END OF FINANCIAL YEAR 31st May 2023 TRUSTEES AT 31ST MAY 2023 Daniel Burnand Lauren Baker Rachel Solomon LEGAL STATUS Charitable Incorporated Organisation GOVERNING INSTRUMENT CIO - Foundation Registered 20th May 2020
OBJECTS
To act as a resource for young people up to 30 years old, who live in London and the surrounding areas, by providing advice, assistance and organising programmes of physical, educational and other activities in order to: a ) - Help young people advance in life by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; and b ) - Provide recreational and leisure time activities in the interests of social welfare for people living in the area who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
CORRESPONDENCE ADDRESS Unit 4 Echo Building East Bay Lane London E15 2SJ PRIMARY BANKERS Lloyds Bank Plc 25 Gresham Street London EC2V 7HN INDEPENDENT EXAMINERS Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31ST MAY 2023
Within the space of seven years, The Outrunners has developed from being an East London running club to a community group and then to a full-blown charity, under the leadership of its founder Tyler Williams-Green.
As a certified running coach, Tyler started the club in 2015 to direct his passion for running. But he also wanted to use his 17 years of youth work experience to link the club members to the wider community. As membership grew, Tyler found ways for the runners to help support local young people.
Together with early Outrunners' member Laura Murphy, who has 17 years' marketing experience, Tyler founded The Outrunners Community Interest Company (CIC) in 2017 to develop and deliver a formal programme for young people, including careers events and a youth running club.
The CIC was a great success and fuelled the organisation's ambition to help young people across East London. In May 2020, the CIC became a registered charity to extend its youth programmes and expand its volunteer community. There continues to be an adult running club which is a separate entity that provides volunteers for our youth programmes.
Our objective is to: To act as a resource for young people up to 30 years old, who live in London and the surrounding areas, by providing advice, assistance and organising programmes of physical, educational and other activities in order to: a ) - Help young people advance in life by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals; and
b ) - Provide recreational and leisure time activities in the interests of social welfare for people living in the area who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
What We Do
Youth Running Clubs
In partnership with local youth clubs and charities, we host five weekly running groups for 8 to 18-year-olds, to provide support and lend our expertise to under-resourced organisations. Our clubs are run by volunteers and overseen by our paid staff. Our volunteers are DBS checked and given training, as well as regular supervision.
In addition to training for races like the Vitality Big Mile, the running sessions help develop soft skills such as teamwork, communication as well as building confidence. They also provide a fun and safe space for the young people to engage with each other and link up with the wider community. In 2023 we launched a new running programme for Black and South Asian girls aged 13 to 18 years who were not currently physically active, supporting them to get back into movement.
Mentoring
We provide one-to-one mentoring, matching each young person with an Outrunners volunteer. Pairs meet on a regular basis for an exercise session.
Mentors help to build the young person's confidence, raise their aspirations and support them with any issues. With a focus on achieving their long-term potential, mentors and mentees agree on goals and review them regularly. All volunteer mentors are DBS checked and are given training. Outrunners staff also liaise with mentees schools, so there is a joined up approach to supporting them.
Careers Advice
Tapping into The Outrunners' network, we call on leaders from a diverse range of industries, including fashion, film, music, fitness and law, to help widen aspirations.
Our Run Your Career programme consists of live events, short sprint placements at exciting companies, such as Lacoste, coaching with industry experts, paid internships and workshops to build on employability skills.
The programme is aimed at inspiring and empowering young people to think beyond their current career ambitions and give them the experience and knowledge to expand their post-education plans. It helps build their confidence and develop important connections with people in their chosen career.
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST MAY 2023
Our Achievements This Year
Announcing New Partnership with Nike
2022 - 2023 was an exciting year for The Outrunners. We launched a partnership with Nike’s community team which included two new programmes, Outrunners Youth and Outrunners Move. Our aim is to work with Black and South Asian girls aged 13 to 18 years and young women aged 18 to 30 who are not currently physically active. We want to inspire them to start moving and feel all the benefits that it brings. We have designed holistic movement programmes tailored to their age and needs with lots of variety, including yoga, Pilates, running, nutrition, access to external trainers and speakers, Nike kit and more. To extend the impact of our programmes we will also identify young women from our Move programme who would like to train as coaches. We will support them to train as coaches and become leaders and changemakers within their community.
Launching Our First Marathon Academy
We also launched our first Marathon academy with over 20 runners from underrepresented backgrounds completing the London Marathon 2023. Despite London being extremely diverse only 11% of the people who take part in the London Marathon are from underrepresented communities. The London Marathon gave us free spots and we recruited people to take part. We supported them with a training plan, free kit from Sports Direct and fun training events in the lead up to the marathon. As well increasing the diversity at the event our runners raised over 11k to support our work.
Making an Impact with Our Programmes
We’ve continued to deliver and grow our running clubs for young people with 5 groups meeting weekly. We deliver our own groups as well as working with youth clubs and charity partners across East London. Our groups are for 8 to 13 year olds and 13 to 18 year olds. This year we worked with 151 young people, delivering 845 sessions and totalling 2057 hours. This year we also trained four 17 and 18 year olds to become youth leadership coaches. The young people were put through an in-house accredited training course which ended in paid employment with the Outrunners, training our youngest groups. Their training included youth leadership, safeguarding and sports coaching.
Bringing Our Community Together with Our Second Fun Run
In the Summer we put on another successful fun run for our community, bringing young people and adults together to take part in our 1 mile, 5k and 10k races with Run dem crews founder Charlie Dark giving runners a warm up. We had a Q&A with para-athlete John-boy Smith and some of our young people. This event brought people together, gave young people and young women in our programmes a race to train for and raised 5k for our work. We’re grateful to the London marathon for supporting us with water stations.
Inspiring Young People to Think Differently About Their Career Options
We continued to offer inspirational careers events and work experience opportunities through our sprint programmes. We hosted our 7th Run your career event in March with over 170 young people attending. It included a panel talk with inspirational women in the fitness community who spoke about their experiences of their industries, fitness & body positivity, and how to overcome bad days. We asked young people to fill out an evaluation form at the end of the event and 81% said they had a better understanding of the steps required to get the jobs they want and 80% felt more confident that they would get the job they wanted.
We hosted our first Newham based careers event at Chobham academy school with 44 young people attending. Employees from a range of companies attended the event including Freud PR, Lacoste and Proper.corn.
We worked with well-known brands to deliver innovative and exciting work experience including Freud PR, Lacoste, Grimshaw Architecture, Ignite and Another People. One of our young people was offered a paid internship at Ignite and gained valuable experience.
Offering Young People Unique and Exciting Opportunities
Through our partnerships we were able to offer young people and young women exciting opportunities including attending Nike events where they met sports legends Kipogee and Dina Asher-Smith, t-shirt printing at the Nike store of co- branded Nike/outrunners t-shirts, running cross country with the black trail runners and spending a day at Wimbledon learning how to play tennis. Some lucky people were selected to take part in campaigns for famous brands including Sports direct and Nike.
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST MAY 2023
Helping People Achieve Their Goals and Raising Vital Funds
We continued to give our young people and adult runners opportunities to take part in races across the year including Hackney Moves, the Big half, Love trails festival (with kit for young people gifted by On running), the London Marathon and our fun run. Some of our young people completed their first half marathon this year. An incredible achievement.
Supported By Over 50 Incredible Volunteers
Our volunteers have continued to support us to deliver our programmes, helping us to deliver our careers events and work experience, being supportive mentors, raising money to support our work and more and we can’t thank them enough for everything they do.
Impact in Numbers
Running Sessions:
845 sessions with 151 young people totalling 2057 hours
Career Sprint Programmes:
114 sessions with 57 young people totalling 714 hours
Career Events
2 event with 215 young people
1:1 Mentoring Sessions
6 young people and 99 sessions
Volunteers Who Supported Us:
50
Looking Forward
This year, we are looking forward to being able to support more Black and Asian young people and young women through our partnership with Nike as well as increasing the awareness of the impact we make. We will invest in developing a new evaluation for these programmes so we can be clear about what works and better demonstrate the impact of our work.
We are going to be piloting delivering our programmes in schools in Hackney and Newham, helping to expand our reach and work with the young people that need us most.
We will be building on the success of our annual fun run and making it bigger and better with our whole community taking part.
We will be reviewing our infrastructure and fundraising to ensure we are fit for the future and can continue to improve the lives of young people from non-dominant communities in East London.
We are looking forward to holding more live careers events as part of our Run Your Career programmes, as well as developing partnerships with new companies to deliver sprint placements.
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST MAY 2023
Trustees' Responsibilities
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable Law and the Generally Accepted Accounting Principles (GAAP) including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The Charities Act 2011 require the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the surplus of the CIO for that period. In preparing those financial statements the trustees are required to:
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Select suitable accounting policies and apply them consistently.
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Observe the methods and principles in the Charities SORP.
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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Prepare financial statements on the going concern basis unless it is inappropriate to presume that the CIO will continue in existence.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Governing Document. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on …………………………………………………………………………………………………………………
Signed on their behalf by Trustee ………………………………………………………………………………………………………………
Printed Name:
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MAY 2023
| Notes INCOMING RESOURCES Incoming Resources from Generated Funds Donations, Grants & Legacies 3a Charitable Activities 3b Activities for Generating Funds 3c Investment Income 3d TOTAL INCOMING RESOURCES RESOURCES EXPENDED Costs of Generating Funds Cost of Charitable Activities 4a Governance Costs 4b TOTAL RESOURCES EXPENDED NET INCOMING (OUTGOING) RESOURCES Funds Brought Forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 208,662 - 208,662 116,935 375 - 375 31,489 1,393 - 1,393 2,588 - - - - 210,431 - 210,431 151,013 159,988 - 159,988 136,133 2,065 - 2,065 900 162,053 - 162,053 137,033 48,378 - 48,378 13,980 41,308 - 41,308 27,328 89,686 - 89,686 41,308 |
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 10 to 16 form part of these financial statements.
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
BALANCE SHEET AS AT 31ST MAY 2023
| Note Fixed Assets Tangible Assets 2 Investments 6 Total Fixed Assets Current Assets Debtors & Prepayments 8 Cash at Bank and in Hand 7 Total Current Assets 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities 10 NET ASSETS Funds of the Charity General Funds Restricted Funds 5 Total Funds Creditors:Amounts falling due within one year Creditors: Amounts falling due in more than one year |
Unrestricted Restricted Total Total Funds Funds 31-May-23 31-May-22 £ £ £ £ 1,054 - 1,054 1,582 - - - - 1,054 - 1,054 1,582 - - - 1,205 90,179 - 90,179 41,790 90,179 - 90,179 42,995 1,547 - 1,547 3,270 88,632 - 88,632 39,726 89,686 - 89,686 41,308 - - - - 89,686 - 89,686 41,308 89,686 - 89,686 41,308 - - - - 89,686 - 89,686 41,308 |
|---|---|
Approved by the Trustees on ………………………………………………………………………………………………………………… Signed on their behalf by Trustee ………………………………………………………………………………………………………………
Printed Name:
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP 2015) (Second Edition, effective 1st January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services have been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Volunteer Help
The value of any voluntary help received is not included in the accounts.
Investment Income
This is included in the accounts when receivable.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
1. ACCOUNTING POLICIES (continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Unrestricted funds
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
Restricted funds
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
Fixed Assets
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation Expense
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings & Equipment 25% - Reducing Balance Basis Computer Equipment 25% - Straight Line Basis
2. TANGIBLE FIXED ASSETS
| Cost 01-Jun-22 Additions Net Book Value at 31-May-23 Depreciation 01-Jun-22 Charge Depreciation at 31-May-23 Net Book Value 31-May-23 Net Book Value 31-May-22 |
Computer General Total Equipment Equipment 2022/23 £ £ £ 2,110 - 2,110 - - - 2,110 - 2,110 528 - 528 528 - 528 1,056 - 1,056 1,054 - 1,054 1,582 - 1,582 |
|---|---|
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st May 2023: None
31st May 2022: None
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
3. INCOMING RESOURCES
| a) Donations, Grants & Legacies Gift Aid Tax Recovered Gifts & Donations Grants Received b) Charitable Activities Activities & Events c) Activities for Generating Funds Merchandise Sales d) Investment Income Interest |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 2,500 - 2,500 3,756 105,772 - 105,772 87,730 100,390 - 100,390 25,449 208,662 - 208,662 116,935 375 - 375 31,489 375 - 375 31,489 1,393 - 1,393 2,588 1,393 - 1,393 2,588 - - - - - - - - |
|---|---|
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
4. RESOURCES EXPENDED
| a) Cost of Charitable Activities Activities & Events Advertising & Marketing Bank Charges Catering Costs Consultancy Costs Depreciation Expense Equipment Costs Insurance Costs License & Subscriptions Office Costs Rent & Rates Staff Costs 12 Sundry Expenses Telephone Costs Training Costs Travel & Subsistence ` b) Governance Costs Independent Examiners Fees 9 Legal & Professional Fees |
Unrestricted Restricted TOTAL TOTAL Funds Funds 2022/23 2021/22 £ £ £ £ 15,456 - 15,456 35,537 1,272 - 1,272 1,717 63 - 63 1 6,327 - 6,327 4,062 5,631 - 5,631 968 528 - 528 528 1,146 - 1,146 2,229 545 - 545 204 712 - 712 312 5,697 - 5,697 4,355 7,678 - 7,678 7,411 104,546 - 104,546 75,494 505 - 505 509 2,192 - 2,192 617 3,718 - 3,718 1,782 3,973 - 3,973 406 159,988 - 159,988 136,133 900 - 900 750 1,165 - 1,165 150 2,065 - 2,065 900 |
|---|---|
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
5. RESTRICTED FUNDS
CURRENT FINANCIAL YEAR
| The Hawerby Trust PREVIOUS FINANCIAL YEAR The Hawerby Trust |
Balance Balance 01-Jun-22 Income Expenditure Transfers 31-May-23 £ £ £ £ £ - - - - - - - - - - Balance Balance 01-Jun-21 Income Expenditure Transfers 31-May-22 £ £ £ £ £ 10,000 - 10,000 - - 10,000 - 10,000 - - |
|---|---|
The restricted funds held are wholly represented by the CIO's cash reserves and are to be expended as specified above.
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
6. INVESTMENTS
The CIO held no fixed assets investments during this or the previous financial period.
7. CASH AT BANK AND IN HAND
| Cash at Bank & in Hand | Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ 90,179 - 90,179 41,790 90,179 - 90,179 41,790 |
|---|---|
8. DEBTORS AND PREPAYMENTS
| Sundry Debtors Prepayments |
Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ - - - 855 - - - 350 - - - 1,205 |
|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiners Fees PAYE & NI |
Unrestricted Restricted Total Total Fund Fund 31-May-23 31-May-22 £ £ £ £ 900 - 900 750 647 - 647 2,520 1,547 - 1,547 3,270 |
|---|---|
10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The CIO held no long term liabilities during this or the previous financial period.
11. NET ASSETS BETWEEN FUNDS
| Fixed Asset Investments Net Current Assets Long Term Liabilities |
Unrestricted Restricted Total Total Funds Funds 31-May-23 31-May-22 £ £ £ £ 1,054 - 1,054 1,582 88,632 - 88,632 39,725 - - - - 89,686 - 89,686 41,307 |
|---|---|
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THE OUTRUNNERS CHARITY
(Charitable Incorporated Organisation)
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST MAY 2023
12. STAFF COSTS AND NUMBERS
| TOTAL 2022/23 £ Gross Wages, Salaries & Fees 95,439 Employer's National Insurance Costs 4,379 Pension Contributions 4,728 104,546 Employees who were engaged in each of the following activities: TOTAL 2022/23 Charitable Activities 4 |
TOTAL 2021/22 £ 63,324 8,331 3,840 75,494 TOTAL 2021/22 2 |
|---|---|
The Charity operate a PAYE Scheme to pay all employed members of staff and no members of staff received emoluments of over £60,000 (2021/22:None).
13. TRUSTEES AND OTHER RELATED PARTIES
During the financial year Miss Georgia Witter (Relative to Trustee Mr Daniel Burnand) received £29,000 (2021/22:£26,000) in salary related payments and £1,271 in reimbursed volunteers expenses in furtherance of the Charity's objects. The Charity Trustees obtained approval from the Charity Commission and all conflicts of interest have been identified, documented and managed accordingly.
No other payments were made to trustees or any persons connected with them during this financial period. No other material transaction took place between the organisation and a trustee or any person connected with them.
14. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
15. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
16. PUBLIC BENEFIT
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake.
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THE OUTRUNNERS CHARITY ICharitatrAe IncorpLYated Ck9anisats¢)nl INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS Report to the truste8sI memb9rn of The Outrunners Charity on the accounts for thè énd&1 31st May 2023 Sèt out on pagè8 8 to 16. Respectlve re8ponglblllt1•9 of trust9 •nd eX1Th•r The charltys trustees are r95po1bl for th8 pr8par3tion of the aOnts. The charity's trust88s rxynskler that an audit is not réquirÈd ft)r this year under section 144 of Ihe ChariliÈs Act 2011 Ilhe Charrbe5 Acll and that an independent eX8mingtion is n88ded. Itls my r98ponglblllty to: examina tha accounts under s8Ction 145 of th8 Charities Act. follow thè proc8dur8E laid down in thè general th"rectIo given by Charity Commission (under section 14SISllbl of th& Charities Acl. and state whether part1• m8ttgrs hm cryne to rny attent 8a•l• of Snd•p•nd•nt •x•mln•fs statement My examlnatlon was carrte11 out In cOrdanCe wlth general DlrKlws qNen by th8 Charrty commlon. An 8xamination Includes a rtrvlew of the accountlng records kopi by the chanty and a rL)mparison ol the accounts pr8S8nl8d wllh Ihos8 ords. It also Incluoes conslderaiion of any unusual or dtscknures in thè acxx)unls, and seeking explanations Irom the tru5t88s conceming any such mattars. Thè pfcudures underlaken do not provJe all tho evidence that would be required in an audit, and wnsoquonlly no opinion is gNon a6 to whothor th¢ o¢counts w¢a¢ni • 'true and lalr. vlew and the report 48 limitod to those rnattors set o(rt in the ststemeni below. Ind•p•nd•nt •xamln•r'# •tatsm•nt In connection wth my oxamination. no mattèr has comè to my atterikn.. l. vthich givès m• reasonable cau68 to believe thal in any materol res1. the fg4uir¥rTieiitD.' to keep acco(bnting records in accordèneo 130 01th? Charities ACL. and to prepare accounts which a)ff willi Ui¥ LVlI1)Y re¢JJrd¥ ¥nd comply 1h the 8c¢ountlng rgqulremgnt$ vl Ili¥ Charitses Acl havtr not been met" or lo whith. in my opinion, attention Should be drawn in (Kdef to 1¥oble a prwr urNJet518nding of the a(x>xJnts lo be reached. W.M Hall LLB C8sUe View Accounting Ltd New Bam MudL*rry Lane Bosharn Chich8st8r West Susséx P018 8TS Date: 28th March 2024