DocuSign Envelope ID: ED740851-6612-4CB7-B39B-2745C12B86A4
INDEPENDENT CHILDREN AND FAMILIES SERVICES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5 APRIL 2022
Charitable Incorporated Organisation number CE023118 (England and Wales)
Charity registration number 1192014
DocuSign Envelope ID: ED740851-6612-4CB7-B39B-2745C12B86A4
INDEPENDENT CHILDREN AND FAMILIES SERVICES
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mohammed Arshad Javid Akhtar Mohammed Akhtar Charity number 1192014 Principal address Park Lane Centre Park Lane Bradford BD5 0LN Independent examiner Alison Whalley BA (Hons) FCA Naylor Wintersgill Limited Carlton House Grammar School Street Bradford BD1 4NS Bankers The Co-operative Bank P O Box 250 Skelmesrdale WN8 6WT
(Appointed 27 October 2020) (Appointed 27 October 2020) (Appointed 27 October 2020)
DocuSign Envelope ID: ED740851-6612-4CB7-B39B-2745C12B86A4
INDEPENDENT CHILDREN AND FAMILIES SERVICES
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Testimonials | 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 17 |
DocuSign Envelope ID: ED740851-6612-4CB7-B39B-2745C12B86A4
INDEPENDENT CHILDREN AND FAMILIES SERVICES
TRUSTEES' REPORT FOR THE PERIOD ENDED 5 APRIL 2022
The trustees present their annual report and financial statements for the period ended 5 April 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The charitable objects are the relief of financial hardship through the provision of support and access to free financial advice and assistance to people with debt related problems living in West Yorkshire and the West Midlands area and beyond who through lack of means would otherwise be unable to obtain such support and advice.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
ICAFS offers and delivers Information, Advice, Guidance and Advocacy Service to the public and helps to eliminate poverty. ICAFS also offers accredited training and raises public awareness on social policy issues such as Housing, Debt, Welfare Benefits, Health, and Education. All of ICAFS activities focus on delivering a high-quality service to reduce dependency and to further our charitable purposes for the public benefit.
Achievements and performance
Post lifting of Covid-19 restrictions - Impact on Children & families surveys across the UK continue to report on the difficulties experienced by household / families during the lockdowns. Particularly those with pre-school children, women, and younger people. The recent UK survey evidence which shows that, adults on low incomes and people living with children still report higher levels of poor mental health and well-being compared with other subgroups. Wider evidence suggests that the pandemic has led to extreme hardship for low-income families, with some feeling excluded, hungry, guilty (for not providing food), fearful and stigmatised with single, young parents under significant pressure.
During the lockdowns and post-lockdown ICAFS Advisers and Advocacy workers discovered that far too many families were facing financial meltdown living in what feels like a triple ditch recession. Our advisers work demonstrates, how hard life is for many children and families these days and the extent of the problems of poverty and feelings of facing economic ruin, now that they have been hit with price increases in Gas, Council Tax, Electric and Water. The situation will be exacerbated further if there is a rise in interest rates, loss of a job, or a fall in their income.
While the causes of money problems may not be individual, the effects of money worries are a significant cause of relationship problems and under achievement of children in school which can give rise to domestic violence, depression, anxiety, and stress. With many of those in debt receiving treatment from their GP’s as mental health problems are both a cause and effect of debt.
Since the easing of the lockdowns the number of people accessing formal advice has increased sharply. In any event, the number of people struggling with unmanageable debt seems likely to remain high and ever increasing for the foreseeable future and may even increase further, when the true reality of Covid-19 comes to the surface. Currently many carers are being treated for stress and panic related anxiety, which makes it clear that the present climate is impacting the very foundation and structure of our service user’s lives.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 5 APRIL 2022
Our own continuous social policy work has highlighted the increasingly worrying issue of serious debt or bankruptcy among ordinary working people in ethnic minority Communities within the last 15 months – one of several problems that can lead to children under-achieving leading to family conflict and breakdown. In view of the current difficult situation, it is imperative to understand that families need a one-stop specialist Social Welfare Law Service to address underlying problems to reduce dependency and help adults, parents, and children to achieve their full potential. We face difficult times ahead, so the help available from the Specialist High-quality Benefits, Debt and Social Welfare Law Advice Services will be more important than ever.
Our advisers continue to be an essential resource for all those service users seeking advice and our advisers will help them to meet the challenges head with confidence.
Fundraising
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. The legislation defines fundraising as ‘soliciting or otherwise procuring money or other property for charitable purposes’. The charity does not actively raise funds from the public either directly or via use of an agent, accordingly no such amounts are presented in the financial statements for the year under review. The charity has received no complaints in relation to fundraising activity for the year under review.
Given the nature of the funding of the charity the Trustees consider that it remains appropriate not to be voluntarily bound to be regulated by the Fundraising Regulator.
Financial review
The income for the period amounted to £144,114, with expenditure being £108,489, making a surplus of £35,625 at 5 April 2022. These are the first set of accounts produced for the charity.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the period. This amount to between £27,000 and £54,000. The required level of reserves have been achieved in the year.
Structure, governance and management
The charity is a Charitable Incorporated Organisation registered with Companies House number CE023118 and registered with the Charity Commission ( England and Wales) number 1192014 on 27 October 2020.
The trustees who served during the period and up to the date of signature of the financial statements were: Mohammed Arshad (Appointed 27 October 2020) Javid Akhtar (Appointed 27 October 2020) Mohammed Akhtar (Appointed 27 October 2020)
Apart from the first charity trustees, every appointed trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. Selecting individuals for appointment as appointed charity trustees, the charity trustees must have regard to the skills knowledge and experience needed for the effective administration of the charity. Training will be provided if needed.
None of the trustees has any beneficial interest in the charity. All of the trustees are members of the charity and guarantee to contribute £1 in the event of a winding up.
The Trustees are responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair and board members.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 5 APRIL 2022
The trustees' report was approved by the Board of Trustees.
Mohammed Arshad Trustee
30 November 2022
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
TESTIMONIALS
FOR THE PERIOD ENDED 5 APRIL 2022
'Dear ICAFS
A big relief all round for me and thank-you for saving my sanity.
I wish ICAFS all the best with future cases and hope other UNFORTUNATE PEOPLE can gain from you unrelenting drive and professionalism like I did. One less worry now. Once again many thank for your dedicated Services.' “IH”
'I can’t recommend ICAFS and its Advisers enough, under a very difficult and stressful case your adviser made me, and my wife feel as confident as possible.
We can’t thank him and everyone at the office enough. If I am ever in a situation again that me, my friends, or family need legal help and advice I would not have to look at any other legal office.' “KH”
'My daughter received Disability Living Allowance for 12 years but had to complete another application when the benefit changed its name to Personal Independence Payment (PIP). After a medical assessment, and despite the severity of my daughter’s conditions, the Department of Work and Pensions (DWP) awarded her nil points when they assessed her claim which meant that she was not entitled to any benefits at all. My daughter does not speak fluent English, and we could not afford to pay for a lawyer but were referred to Independent Children and Families Services (ICAFS). '
ICAFS Legal Adviser assisted my daughter to appeal the DWP decision. ICAFS obtained further medical evidence, prepared a written submission in support of my daughter’s case and represented her at her tribunal hearing on the telephone, with the help of an interpreter.
The Tribunal took only 20 minutes to overturn the decision of the DWP and awarded my daughter the maximum number of points in daily living and mobility components she could obtain for a PIP award, giving her a total annual benefit payment of £8158.80, in addition to arrears from the date of her application.
We have nothing but praises for ICAFS and its adviser.
“We were supported by ICAFS at a time when we had nowhere else to turn. The benefit payments help us to accommodate daughter’s illness and disabilities to have a basic life.
ICAFS adviser treated us with dignity, kindness and respect and we are so grateful to them for their help .” “A. Begum”
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF INDEPENDENT CHILDREN AND FAMILIES SERVICES
I report to the trustees on my examination of the financial statements of Independent Children and Families Services (the charity) for the period ended 5 April 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Alison Whalley BA (Hons) FCA Naylor Wintersgill Limited Carlton House Grammar School Street Bradford BD1 4NS
Dated: 30 November 2022
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 5 APRIL 2022
| Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income from: Donations and legacies 3 - 54,607 Charitable activities 4 8,694 80,813 Total income 8,694 135,420 Expenditure on: Charitable activities 5 2,512 105,977 Net income for the period/ Net movement in funds 6,182 29,443 Fund balances at 27 October 2020 - - Fund balances at 5 April 2022 6,182 29,443 |
Total 2022 £ 54,607 89,507 |
|---|---|
| 144,114 | |
| 108,489 | |
| 35,625 - |
|
| 35,625 |
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
BALANCE SHEET
AS AT 5 APRIL 2022
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Income funds Restricted funds 12 Unrestricted funds Designated funds 13 General unrestricted funds |
2022 £ 584 37,119 37,703 (3,914) 1,836 4,346 |
£ 1,836 33,789 |
|---|---|---|
| 35,625 | ||
| 29,443 6,182 |
||
| 35,625 |
The financial statements were approved by the Trustees on 30 November 2022
Mohammed Arshad Trustee
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 5 APRIL 2022
1 Accounting policies
Charity information
Independent Children and Families Services is a Charitable Incorporated Organisation number CE023118 and registered with the Charity Commission in England and Wales number 1192014 on 27 October 2020.
1.1 Reporting period
The accounts have been presented for a longer period than one year due to this being the first year of accounts being produced, therefor there are no comparative figures. The accounting period runs from the date of registration, 27 October 2020 to 5th April 2022.
1.2 Accounting convention
The financial statements have been prepared in accordance with the charity's Constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.5 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 5 APRIL 2022
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.7 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 25% straight line Computers 25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.8 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 5 APRIL 2022
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2022
3 Donations and legacies
| Restricted | Total | |
|---|---|---|
| funds | ||
| 2022 | 2022 | |
| £ | £ | |
| Grants received for core activities (listed below) | 54,607 | 54,607 |
| Grants receivable for core activities | ||
| Awards for All | 19,976 | 19,976 |
| National Lottery Community Fund (Local Connections) | 2,500 | 2,500 |
| ESF Groundworks | 19,948 | 19,948 |
| Allen Lane Foundation | 4,923 | 4,923 |
| George Martin Trust | 2,444 | 2,444 |
| One Community Foundation | 4,816 | 4,816 |
| 54,607 | 54,607 | |
| Charitable activities | ||
| Charitable | ||
| Income | ||
| 2022 | ||
| £ | ||
| Services provided under contract | 8,694 | |
| Performance related grants | 80,813 | |
| 89,507 | ||
| Analysis by fund | ||
| Unrestricted funds | 8,694 | |
| Restricted funds | 80,813 | |
| 89,507 | ||
| Bradford Metropolitan District Council | 8,970 | |
| Kirklees Council | 71,843 | |
| 80,813 |
-
4 Charitable activities
-
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2022
5 Charitable activities
| Charitable | |
|---|---|
| Expenditure | |
| 2022 | |
| £ | |
| Staff costs | 1,381 |
| Project costs | 5,515 |
| Freelance welfare officers | 36,865 |
| 43,761 | |
| Share of support costs (see note 6) | 62,376 |
| Share of governance costs (see note 6) | 2,352 |
| 108,489 | |
| Analysis by fund | |
| Unrestricted funds | 2,512 |
| Restricted funds | 105,977 |
| 108,489 |
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2022
| 6 Support costs Support costs Governance costs £ £ Staff costs 29,562 - Depreciation 548 - Freelance administrators 11,510 - Premises costs 11,562 - Insurance 842 - Office costs 1,068 - Staff and volunteer travel 3,880 - Computer and web 1,556 - Bookkeeping and payroll 312 - Advertising and PR 733 - Subscriptions 293 - Legal and professional 320 - Sundry 190 - Legal and professional - 252 Independent examination - 2,100 62,376 2,352 Analysed between Charitable activities 62,376 2,352 |
2022 £ 29,562 548 11,510 11,562 842 1,068 3,880 1,556 312 733 293 320 190 252 2,100 |
|---|---|
| 64,728 | |
| 64,728 |
Governance costs includes payments to the independent examiners of £2,100.
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
8 Employees
The average monthly number of employees during the period was:
| 2022 | |
|---|---|
| Number | |
| 2 | |
| Employment costs | 2022 |
| £ | |
| Wages and salaries | 30,489 |
| Other pension costs | 454 |
| 30,943 |
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2022
8 Employees
(Continued)
There were no employees whose annual remuneration was more than £60,000.
9 Tangible fixed assets
| Fixtures and fittings Computers £ £ Cost Additions 368 2,016 At 5 April 2022 368 2,016 Depreciation and impairment Depreciation charged in the period 57 491 At 5 April 2022 57 491 Carrying amount At 5 April 2022 311 1,525 10 Debtors Amounts falling due within one year: Prepayments 11 Creditors: amounts falling due within one year Trade creditors Accruals |
Total £ 2,384 |
|---|---|
| 2,384 | |
| 548 | |
| 548 | |
| 1,836 | |
| 2022 £ 584 |
|
| 2022 £ 1,582 2,332 |
|
| 3,914 |
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2022
12 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | in funds | |||
|---|---|---|---|---|
| Incoming | Resources | Balance at | ||
| resources | expended | 5 | April 2022 | |
| £ | £ | £ | ||
| Support for Children and Families | 135,420 | (105,977) | 29,443 | |
| 135,420 | (105,977) | 29,443 |
Support for Children and Families was funded by Awards for All, Local Connections Fund, ESF, Allen Lane Foundation, George Martin Trust, Kirklees Council, Bradford Council and One Community Foundation. The balance to be spent in the year 2022/2023.
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 5 APRIL 2022
13 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Fixed asset fund | Transfers Balance at 5 April 2022 £ £ 1,836 1,836 1,836 1,836 |
Transfers Balance at 5 April 2022 £ £ 1,836 1,836 1,836 1,836 |
|---|---|---|
| 1,836 |
The fixed asset fund represents the net book value of the fixed assets held by the charity.
14 Funds
| Movement in funds | Movement in funds | Movement in funds | ||
|---|---|---|---|---|
| Incoming | Resources |
Transfers | Balance at | |
| resources | expended |
5 April 2022 | ||
| £ | £ | £ | £ | |
| Restricted | 135,420 | (105,977) | - | 29,443 |
| Designated | - | - | 1,836 | 1,836 |
| General | 8,694 | (2,512) | (1,836) | 4,346 |
| 144,114 | (108,489) | - | 35,625 | |
| Analysis of net assets between funds | ||||
| Unrestricted | Designated | Restricted | Total | |
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | 2022 | |
| £ | £ | £ | £ | |
| Fund balances at 5 April 2022 are represented by: | ||||
| Tangible assets | - | 1,836 | - | 1,836 |
| Current assets/(liabilities) | 4,346 | - | 29,443 | 33,789 |
| 4,346 | 1,836 | 29,443 | 35,625 |
15 Analysis of net assets between funds
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INDEPENDENT CHILDREN AND FAMILIES SERVICES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 5 APRIL 2022
16 Operating lease commitments
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years |
2022 £ 3,000 6,000 |
|---|---|
| 9,000 |
The operating leases represent leases of £3,000 per annual to third parties. The leases are negotiated over terms of 3 years and rentals are fixed for 3 years. All leases include a provision for five-yearly upward rent reviews according to prevailing market conditions. There are no options in place for either party to extend the lease terms.
17 Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
| 2022 | |
|---|---|
| £ | |
| Aggregate compensation | 21,907 |
During the period Inspirational Business Institute was paid £6,300 for room hire. Mohammed Arshad is the Director of Inspirational Business Institute and a Trustee for Independent Children and Families Services. During the year three trustees each loaned the charity £500, which was paid back during the year.
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