## **2022-23** ## **ANNUAL REPORT** **A WORLD WHERE ALL CHILDREN HAVE OPPORTUNITY TO FLOURISH** ## CONTENTS ## ANNUAL REPORT 2022-23 Welcome from our Chair and CEO...................3-4 Vision and Mission and Values.............................5 A Snapshot of Need.................................................6 Reasons for Nomination........................................7 Achievements............................................................8 Our Impact..................................................................9 Our Charity.................................................................10 Our Biggest Fundraiser..........................................11 ## FINANCIAL STATEMENTS AND TRUSTEE REPORT 2023 Report of the Trustees................................................13 Independent Examiner's Report.............................15 Statement of Financial Activities.............................16 Balance Sheet................................................................17 Notes to the Accounts...............................................18 2. ## WELCOME ## PARVEZ BHATTY - OUTGOING CHAIR It has been a great year at LCH. We have been very busy launching our new projects as well as strengthening our school trip funding and Rested Minds project. There has been significant growth within the charity as we continue to increase our presence across Leicestershire, reaching more children, in more ways. We held our biggest fundraising event where 6,000 children took part in our colour dash. The trustees took a bold decision in not running a summer holiday in summer 2023, to enable our new CEO to put in place the plans and foundations needed to build a stronger future for the charity. We have diversified our charity activity, strengthened our policies and procedures, moved into the digital world and built upon our school partnerships. We have recently welcomed four new trustees on our board who all have skills and experience required to support Leicester Children’s Holidays on its journey. Although I am stepping down as chair I will continue in the charity as a trustee and look forward to helping put together the strategy for the next three years. ## BRYON BROTHERTON MBE - INCOMING CHAIR I am thrilled and fortunate to be given the opportunity to become the Chair of Leicester Children’s Holidays - a charity that is going from strength to strength. Firstly, I would just like to thank the outgoing Chair, Mr Parvez Bhatty for his hard work and time. Since being Chair of this great charity – he has had a huge impact during his 6-year tenure. Equally, we also say farewell to two of our Trustees, Mr Steven Samson and Mr Michael Griffiths, we thank them for their dedication and support since being members of the board. Expanding on what the charity provides; is key to its continued success. This year, the charity has increased the programmes it delivers, and we now offer all year-round support to children, ensuring we meet today’s needs of our community. This is something that the trustees have been keen to support and develop. I would also like to take this opportunity to thank our school partners for their vital support. You are an important part of our developed delivery of programmes. Without your backing, our strength and reach to support children would not be as powerful. Our success is also directly linked to the hard work of our LCH staff team. We have made extraordinary progress this year, and I’d like to personally thank every team member for their energy, commitment and consistency in driving our charity forward. As the incoming Chair, I will support the CEO to ensure our three-year strategy is delivered and taken forward to the continued success of the charity, where we invest in children, unlock their potential, inspire their dreams and create lasting memories. Thank you for an excellent year and I look forward to continuing our amazing journey in 2023/4 with you all. 3. ## NICHOLA MOORE - CEO After joining Leicester Children’s Holidays in the summer of 2022, I have experienced an amazing year at the charity, implementing new goals and plans to expand the presence of LCH and reach even more children in a variety of ways. It has been great to celebrate 125 years of the charity and this has been marked with successful events such as our Flourish Festival and we look forward to our Gala Dinner which will further recognise the charities achievements. The launch of our Broadening Horizons project has already seen growth and achievements with many reports of children developing their confidence in and out of school. The project has enabled children to gain a new skill or hobby and the need for this support will only increase. It has been a good opportunity this year to try new ideas and concepts that have helped to reach more children. The whole team have worked hard to strengthen our partnerships with schools across the county. The number of partnerships has grown from 25 to 53 in the last few months and we are excited to expand this to reach more children across our community. We held a school colour dash in April which saw over 25 schools across Leicestershire take part and this was our most successful fundraiser ever! All children involved showed great citizenship. We cannot wait to hold it again in May 2024. According to a study by Loughborough University in the UK, it is the borough of Leicester that has seen the biggest increase in child poverty over the last 6 years, therefore demonstrating the need for our charity. We want to thank all of our supporters that help to see the vision and mission of the charity come to life, we wouldn’t be able to do it without you. 4. ## OUR VISION: A world where all children have opportunity to flourish. OUR MISSION: Investing in children, inspiring dreams, unlocking potential, creating lasting memories OUR VALUES: EXCELLENCE Achieving our best for young people. COMPASSION INCLUSIVITY Being kind. Everybody matters. ## INNOVATION ## COLLABORATION ## FUN With new ideas, tomorrow is the future. Partnerships strengthen the journey. We are all about smiles. 5. ## A SNAPSHOT OF NEED Child Poverty is rising at record rates across the UK according to the latest report from the Child Poverty Action Group (CPAG). In the UK, it is the borough of Leicester that has seen the biggest increase in child poverty over the last 6 years, raising from 30% to 42% according to a study produced for the ‘End Child Poverty Coalition’ by the ‘Centre for Research in Social Policy’ at Loughborough University. Nationally 1 child in 4 is living in poverty. When walking through the east of Leicester City, it is every other child, 1 child in 2, that is living in poverty. We cannot measure the human cost of growing up in a cold, damp or overcrowded home; of having a parent who is forced to rely on charity to put food on the table; missing out on school trips, never enjoying a holiday, or not being able to participate in a hobby or activity. With today’s increased pressure on families’ food and energy spending, the risks to children of these hardships are greater than ever. 6. ## REASONS FOR NOMINATION ## Our Rested Minds Children ## Our School Trips Children ## Our Broadening Horizons Children 7. ## ACHIEVEMENTSOUR YEAR IN NUMBERS 252 669 400 pencil cases provided to start school equipped children funded to hours of mental enjoy their school health support for trip 42 children 23 6,160 4 children engaged colour dash programmes of in our Broadening participants raising support in place to Horizons Project £68,475 help children 757 gifts wrapped in Dec 22 raising £2,115 8. ## OUR IMPACT ## Parent Quote I can’t believe a charity exists that provides my child with this amazing opportunity. I have seen Chelsea grow in confidence and she is so happy every Thursday evening when she gets her hour of swimming, thank you so much. ## Child Quote I love the indoor rock climbing I now do every week, I am getting really good and I have made some new friends too. ## School Quote As a school supporting an area of high disadvantage it has been so important to be able to offer a school trip experience that from using the match funding method has enabled it to be free to parents. Our children have really benefitted from a trip to the theatre, opening their eyes and ears to exciting new experiences. 9. ## OUR CHARITY ## Who we are.... As a charity we are determined to provide support to children in our community that has a lasting impact on their life. It is from our school partnership work and our leadership that we have developed a programme that meets need, provides all year-round support, and is aligned to our vision and mission. Providing financial support to families so that no child misses out on a school trip or experience. that no child misses MATCH FUNDING out on a school trip or experience. TIME AWAY Reaching those children who are suffering the most. Working with schools RESTED MINDS and partners to provide social and emotional mental health support. A project that provides children with the opportunity to engage in an activity that brings enrichment to their life, igniting a love, interest or talent and provides regular, all year round respite. A programme of day trips, short breaks and holidays throughout the year. Engaging children in opportunities they would normally miss out on. 10. ## OUR BIGGEST FUNDRAISER **25 schools 6000 children Over £65,000 raised** 11. ## **2022-23** # **FINANCIAL STATEMENTS** **AND TRUSTEE REPORT** 12. ## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2023 ## Legal and Administrative Details The trustees present their report and the financial accounts for the period from 1st August 2022 to 31st July 2023, which has been prepared in accordance with the accounting policies set out and comply with applicable law. The trustees confirm that the trustees report and the financial statements of the charity comply with the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), 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) ## Constitution, Objectives and Policies 6-17 who are in need by reason of poverty, disability or other social or economic disadvantage in Leicestershire and the wider East Midlands by the provision of respite, short breaks and holidays. The policy of the Charity continues to be to seek additional finance and support to continue to maintain and increase the level of facilities and services provided for the children. Previously a charity (No 217976) originally established under a Trust Deed dated 1898 in order to provide free holidays for economically disadvantaged children of Leicestershire between the ages of 6 and 10. On 1st August 2020, the old charity ceased to trade and its assets and liabilities were transferred to the new CIO. The Trustees have full responsibility for policy formatting and implementation and delegate all operational matters to the CEO. |the CEO.||| |---|---|---| |President|Alan Birchenall MBE|Trustee Details
The trustees named have served
through the year. The appointment of
trustees is governed by the Trust Deed.
The board of trustees is authorised to
appoint new trustees to fill vacancies
arising through resignation or death of
an existing trustee.| |Vice President|The Right Worshipful the Lord Mayor of Leicester,
Councillor Dr Susan Barton|| |Ambassador|TBC|| |Chair|Bryon Brotherton MBE|| |Vice Chair|June Bhatty|| |Executive
Commitee of
Trustees|Bryon Brotherton MBE, June Bhatty, Jean Lewis
MBE, Parvez Bhatty, Sandesh Jesrani, Michael
Griffiths (left May 2023), Steven Sansom (left
November 2023), Hema Badger Mistry (appointed
November 2023), Eilidh Stringer (appointed
November 2023)|| |Bankers|Lloyds Bank plc, London Road, Oadby, Leicester|| |Independent
Examiner|TC Group, 31 High View Close, Hamilton Office
Park, Leicester, LE4 9LJ|| |Registered Office|Highcross, Leicester, Upper Mall, LE1 4FP|| 13. ## Structure, Governance and management - Trustees Responsibilities The Charities Act 2011 requires the trustees to prepare statements of account for each financial year, which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing those financial statements, the trustees are required to follow best practice and: - Select suitable accounting policies and apply them consistently Make judgements and estimates that are reasonable and prudent - Value assets and liabilities in accordance with the Statement of Recommend Practice Accounting by Charities to state whether or not the accounts have been prepared in accordance with applicable accounting standards and statements of recommended practice and to give particulars of any material departure from those standards and practice and the reason for such departure - Prepare the financial statements on the going concern basis, unless it is inappropriate to presume the charity will continue in operation. The trustees are responsible for keeping proper accounting records, which are sufficient to show and explain the charity's transactions and to disclose with reasonable accuracy at any time the financial position of the charity, and to enable them to ensure that any statements of account comply with the requirements of the applicable law and regulations. They are also responsible for the safeguarding of the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## Investment Powers The trustees are authorised to make and hold investments using the general funds of the charity. ## Reserves Policy The charity's reserves policy is a 12 month operational reserve. A small amount above this will be designated for capital development for IT & Premises with the remainder designated for the future purchase of a woodland activity centre. ## Risk Management The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current reasonable levels combined with an annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks including all issues surrounding safeguarding faced by the charity and confirm that they have established systems to mitigate the significant risks. ## Election of Trustees Trustees are invited to nominate trustees. New trustees receive information about the charity and are encouraged to meet trustees and staff prior to confirming their agreement to their nomination being submitted ## Management Process The board of elected trustees have equal responsibility for the running of the charity. The elected board members will appoint from amongst themselves a chair, a vice chair, and other such officers as may be necessary from time to time. The charity currently employs a full time CEO, a full time Marketing & Fundraising Assistant, a part time Partnership Liaison Officer and a part time Finance & Admin Assistant. ## Activity leaders are employed as and when required to support charity activity. All operational matters are delegated to the CEO. ## Public Relations Continuing promotion of the charity, its profile, unique objectives and requirements for funding through public donations is an ongoing priority. 14. ## INDEPENDENT EXAMINERS REPORT Report to the charity trustees on my examination of the accounts of Leicester Children's Holidays (the Trust) for the year ended 31 July 2023. ## Responsibilities and Basis of Report As the charity's trustees are responsible for the preparation of the accounts in accordance with the requiremenets of the Charities Act 2011 ('the Act') I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable directions given by the Charity Commission under section 145 (5) (b) of the Act. ## Independent Examiner's Statement I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or - 2) The accounts do not accord with those records; or - 3) The accounts 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 accounts to be reached R J Buckby FCA TC Group 31 High View Close Hamilton Office Park Leicester LE4 9LJ Date____________________________ 15. ## STATEMENT OF FINANCIAL ACTIVITIES ## FOR THE YEAR ENDED 31ST JULY 2023 The notes on pages 16 to 25 form part of these financial statements 16. ## BALANCE SHEET ## AS AT 31ST JULY 2023 The notes on pages 16 to 25 form part of these financial statements Approved by the Trustees on................................................................................ On their behalf by: Parvez Bhatty – Chair to 14/11/23……………………………………………………...….. Bryon Brotherton - Chair from 15/11/23…………………………………………........ 17. ## NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST JULY 2023 ## 1. ACCOUNTING POLICIES ## Basis of Preparation The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared under the historical cost convention and 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 issued in October 2019 (Charities SORP FRS102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, and are presented in sterling (see note 15). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## Fixed Assets Fixed assets are stated at cost less depreciation. Assets introduced from the previous Trust have been included at net book value. Depreciation is calculated to write down the cost or valuation of tangible fixed assets to their estimated residual values over their estimated useful lives at the following annual rates : Improvements to Leasehold property 20% of cost Website 20% of cost Office equipment 20% of cost ## Income All income is recognised once the charity has legal entitlement to the income, when there is sufficient certainty of receipt and the amount of income receivable can be measured reliably. Donations are recognised upon receipt and classified at that point as either unrestricted or restricted if they donation is for a specific purpose. No amounts are included in the financial statements for services donated by volunteers. Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank. ## Investment Income Income from investments is included in the Statement of Financial Activities in the year in which it is receivable. ## Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity, including support and governance costs. For more information on this allocation refer to the note "allocation of governance and support costs" below. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of resources. Charitable activity expenditure are those costs incurred in attracting voluntary income, and include expenditure directly associated with individual projects and support costs relating to those activities. ## Allocation of governance and support costs Governance costs are those incurred in connection with the management of the charity and its assets, organisational administration and compliance with constitutional and statutory requirements. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with their use of resources. The allocation of governance and support costs is analysed in note 6. ## Restriction Funds Restricted funds are accounted for in accordance with the particular terms of trust arising from the express or implied wishes of donors in so far as these are intended to be binding on the Trustees. ## Designated Funds Unrestricted funds that have been designated for specific future expenditure by the Trustees. ## General Fund Free reserves that are those available for the general purposes of the charity, after deduction of restricted funds, designated funds, and the Capital Fund. 18. ## 2. DONATIONS AND LEGACIES ## 3. CHARITABLE ACTIVITIES ## 4. INVESTMENT INCOME 19. ## 5. RAISING FUNDS ## 6. CHARITABLE ACTIVITIES EXPENDITURE During the current financial period £63,724 of the charitable activities’ expenditure was from unrestricted funds and £2,061 was by way of restricted funds. 20. ## 7. OVERHEAD EXPENDITURE ## 8. STAFF COSTS The average head count of employees during the year was 4 (2022: 3) No staff were paid more than £60,000 during the year. ## 9. REDUNDANCY COSTS There were no redundancy costs either paid or provided in the year ended 31st July 2023. 21. ## 10. TANGIBLE FIXED ASSETS All material assets are held for the Charity's own use. 22. 11. FIXED ASSET INVESTMENTS 2023 2022 Investments Schroder Charity Equity Income Units M&G Charibond Charities Fixed Interest Common Investment Fund Units 53,585 54,214 653 697 M&G Charifund Units 36,267 37,437 CCLA Charities Fixed Interest Fund - Income Units 73,619 74,476 77,301 87,396 Charities Property Fund- Income Units Charities Deposit Fund Inv•stm•nt In Subsldiary Total 322,601 341,047 2023 2022 Mark•t valu• of Inv•stm•nts: As at start of period Chan8e in market value As at •nd of p•rlod 341,047 (18,446} 322,601 331,336 9,711 341,047 23. ## 12. DEBTORS ## 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 24. ## 14. RESTRICTED FUNDS MOVEMENT ## 15. UNRESTRICTED FUNDS MOVEMENT ## GENERAL FUNDS REPRESENTED BY: Designated funds of the charity have been set aside by trustees as follows: £190,000 for an Operational Reserve which will cover twelve months of running expenses (this reserve was previously designated to cover 24 months of running costs). £15,000 for upgrades to and maintenance of the Visitor's Centre and the current IT system. £231,255 for the purchase of a Woodland Activity Centre in ten years from now (in 2033). This would be used by children for residential and day visits. 25.