2023-03-31-accounts - Centre For Outcomes Of Care

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Centre For Outcomes Of Care

Charity No. 1189874

Company No. 10996449

Trustees' Report and Unaudited Accounts

31 March 2023

Centre For Outcomes Of Care Contents

	Pages
Trustees' Annual Report		2
Independent Examiner's Report		3
Statement of Financial Activities		4
Summary Income and Expenditure Account		5
Balance Sheet		6
Statement of Cash flows		7
Notes to the Accounts	8 to	14
Detailed Statement of Financial Activities	15 to	16

Page 1

Centre For Outcomes Of Care Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 10996449

Charity No. 1189874

Registered Office

Unit 1 Strands Barn Strands Barn Lane Hornby Lancaster LA1 8JF

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

H. Gallagher (Resigned 20 September 2022) J. Kendal (Resigned 20 September 2022) M.E. Kerr

Accountants

Meiring & Co Unit 1 Strands Barn Strands Farm Lane Hornby Lancaster LA2 8JF

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

M.E. Kerr Trustee 15 December 2023

Page 2

Centre For Outcomes Of Care

Independent Examiners Report

Independent Examiner's Report to the trustees of Centre For Outcomes Of Care

I report to the charity trustees on my examination of the financial statements of Centre For Outcomes Of Care for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in accordance with section 386 of the 2006 Act ; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

Andrew Meiring FCCA Meiring & Co Unit 1 Strands Barn Strands Farm Lane Hornby Lancaster LA2 8JF 15 December 2023

Page 3

Centre For Outcomes Of Care Statement of Financial Activities for the year ended 31 March 2023

Unrestricted funds 2023 £ - -	Total funds 2023 £ - -	Total funds 2022 £ 24,566 11,364
- 1,996	- 1,996	35,930 34,805
1,996 -	1,996 -	34,805 -
(1,996) -	(1,996) -	1,125 -
(1,996)	(1,996)	1,125
(1,996) (10,404)	(1,996) (10,404)	1,125 (11,529)
(12,400)	(12,400)	(10,404)

Page 4

Centre For Outcomes Of Care Summary Income and Expenditure Account for the year ended 31 March 2023

Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net (expenditure)/income before tax for the year Net (expenditure )/income for the year	2023 £ - - 1,182 814 1,996 (1,996) (1,996)	2022 £ 35,930
		35,930
		34,223 582
		34,805
		1,125
		1,125

Page 5

Centre For Outcomes Of Care

Balance Sheet at 31 March 2023

Company No. 10996449 Notes 2023 £ Fixed assets Intangible assets 9 - Tangible assets 10 - - Current assets Debtors 11 - Cash at bank and in hand 1,590 1,590 Creditors:Amount falling due within one year 12 (13,990) Net current liabilities (12,400) Total assets less current liabilities (12,400) Net liabilities excluding pension asset or liability (12,400) Total net liabilities (12,400) The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds (12,400) (12,400) Reserves 13 Total funds (12,400)	2022 £ - 814
	814 2,450 -
	2,450 (13,668)
	(11,218) (10,404)
	(10,404)
	(10,404)
	(10,404)
	(10,404)
	(10,404)

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 15 December 2023

And signed on its behalf by:

M.E. Kerr Trustee

15 December 2023

Page 6

Centre For Outcomes Of Care Statement of Cash flows for the year ended 31 March 2023

Cash flows from operating activities Net (expenditure)/income per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Loss on disposal of tangible fixed assets Decrease in trade and other receivables Increase/(Decrease) in trade and other payables Net cash provided by/(used in) operating activities Cash flows from investing activities Proceeds from sale of intangible assets Payments for intangible assets Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances Bank overdrafts	2023 £ (1,996) 260 554 2,450 742 2,010 12,000 (12,000) - - 2,010 (6) 2,004 1,590 - 1,590	2022 £ 1,125 582 - - (7,299)
		(16,956) - -
		11,364

		-

		(5,592)
		5,585
		(7)

		-
		(6)
		(6)

Page 7

Centre For Outcomes Of Care

Notes to the Accounts

for the year ended 31 March 2023

1 Accounting policies

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.

Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets

Page 8

Centre For Outcomes Of Care

Notes to the Accounts

Expenditure

Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
Other expenditure These are support costs not allocated to a particular activity.

Taxation

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

Tangible fixed assets and depreciation

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

Fixtures, fittings and 33% Straight line equipment

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks) are carried at cost less accumulated amortisation and impairment losses. Intellectual property 10% Straight line

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 9

Centre For Outcomes Of Care

Notes to the Accounts

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.

All exchange differences are are taken into account in arriving at net income/expenditure.

Leased assets

Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 10

Centre For Outcomes Of Care

Notes to the Accounts

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital.

3 Statement of Financial Activities - prior year

Income and endowments from: Other trading activities Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from other trading activities Children's social care consultancy	Unrestricted funds 2022 £ 24,566 11,364 35,930 34,805 34,805 1,125 1,125 1,125 (11,529) (10,404) Total 2023 £ - -	Total funds 2022 £ 24,566 11,364
		35,930 34,805
		34,805
		1,125
		1,125
		1,125 (11,529)
		(10,404)
		Total 2022 £ 24,566
		24,566

Page 11

Centre For Outcomes Of Care

Notes to the Accounts

5 Other income

Total Total 2023 2022 £ £ Government Covid-19 support - 11,364 - 11,364 6 Other expenditure Unrestricted Total Total 2023 2022 £ £ £ Advertising 43 43 115 Employee costs - - 26,897 Motor and travel costs 52 52 167 Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets 814 814 582 General administrative costs 127 127 4,428 Legal and professional costs 960 960 2,616 1,996 1,996 34,805 7 Net (expenditure)/income before transfers 2023 2022 This is stated after charging: £ £ Depreciation of owned fixed assets 260 582 8 Staff costs 2023 2022 Salaries and wages - 26,250 Social security costs - 647 - 26,897 The average monthly number of full time equivalent employees during the year was as follows: 2023 2022 Number Number Children's social care consultancy - 1 - 1	Total 2023 £ - -	Total 2022 £ 11,364
		11,364

		Total 2022 £ 115 26,897 167 582 4,428 2,616
		34,805
		2022 £ 582 2022 26,250 647
		26,897
		1

Page 12

Centre For Outcomes Of Care

Notes to the Accounts

9 Intangible fixed assets

Cost Additions Disposals At 31 March 2023 Net book values At 31 March 2023 10 Tangible fixed assets Cost or revaluation At 1 April 2022 Disposals At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charge for the year Disposals At 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 11 Debtors Other debtors Prepayments and accrued income	2023 £ - - -	Other £ 12,000 (12,000) - - Fixtures, fittings and equipment £ 2,020 (2,020) - 1,206 260 (1,466) - - 814	Total £ 12,000 (12,000)
			-
			-
			Total £ 2,020 (2,020)
			-
			1,206 260 (1,466)
			-
			-
			814
			2022 £ 2,306 144
			2,450

Page 13

Centre For Outcomes Of Care

Notes to the Accounts

12 Creditors:

amounts falling due within one year

2023 £ - 1,250 1,518 - 10,260 962 13,990 At 1 April 2022 (10,404) (10,404) At 1 April 2022 £	Resources expended £ (1,996) (1,996) Unrestricted funds £ (12,400) (12,400) Cash flows £	2022 £ 6 1,250 656 10,380 - 1,376
		13,668
		At 31 March 2023 £ (12,400)
		(12,400)
		Total £ (12,400)
		(12,400)
		At 31 March 2023 £
-	1,590	1,590
(6)	6	-
(6) (1,250) (1,250) (1,256)	1,596 - - 1,596	1,590 (1,250)
		(1,250)
		340

Page 14

Centre For Outcomes Of Care Detailed Statement of Financial Activities for the year ended 31 March 2023

Income and endowments from: Other trading activities Children's social care consultancy Other Government Covid-19 support Total income and endowments Expenditure on: Other expenditure Advertising Salaries/wages Employer's NIC Motor and travel costs Travel and subsistence General administrative costs, including depreciation and amortisation Depreciation of Fixtures, fittings and equipment Loss on disposal of tangible fixed assets Bank charges Equipment repairs and maintenance Software, IT support and related costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Consultancy fees Other legal and professional costs	2023 £ - - - - - 43 43 - - - 52 52 260 554 69 - 58 - - - - 941 960 - -	Total funds 2023 £ - - - - - 43 43 - - - 52 52 260 554 69 - 58 - - - - 941 960 - -	Total funds 2022 £ 24,566
			24,566
			11,364
			11,364
			35,930 115
			115
			26,250 647
			26,897
			167
			167
			582 - 122 29 781 652 216 2,265 363
			5,010
			1,465 1,116 35

Page 15

Centre For Outcomes Of Care

Detailed Statement of Financial Activities

Centre For Outcomes Of Care Detailed Statement of Financial Activities
Total of expenditure of other costs Total expenditure Net gains on investments Net (expenditure)/income Net (expenditure)/income before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	960 1,996 1,996 - (1,996) (1,996) - (1,996) (10,404) (12,400)	960 1,996 1,996 - (1,996) (1,996) - (1,996) (10,404) (12,400)	2,616

			34,805
			34,805 -
			1,125
			1,125 -
			1,125
			(11,529)
			(10,404)

Page 16