DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
Charity number: 1194092
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
COACHBRIGHT CHARITABLE TRUST
DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2-12 |
| Independent examiner's eport | 13 |
| Statement of financial activities | 14 |
| Balance sheet | 15 |
| Statement of cash flows | 16 |
| Notes to the financial statements | 17 - 24 |
DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 AUGUST 2022
Trustees Q Riaz, Chair G Lane M I Mahmood S J Hardman K J McAree Charity registered number 1194092 Principal office Spaces Crossway Civic House 156 Great Charles Street Queensway Birmingham B3 3HN Bankers Metro Bank 2, 24 Farnham Road Slough SL1 3TA Solicitors Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR Accountants Menzies LLP Centrum House 36 Station Road Egham Surrey TW20 9LF
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
Objectives and Activities
a. Governing document
CoachBright Charitable Trust is an independent registered charity working with pupils to strengthen their educational attainment and life outcomes. The Charity is governed by a Constitution accepted upon incorporation on 15th April 2021.
b. Policies and objectives
CoachBright is a social mobility charity on a mission to support pupils from disadvantaged backgrounds to become independent and resilient learners so they can lead the lives they want.
We partner with Primary and Secondary schools in England to run face-to-face and virtual coaching programmes.
Through partnering pupils with relatable role models, we aim to raise their confidence, independence and attainment.
The charity’s aims are to support people in education through:
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providing educational programmes in key national curriculum subjects, in particular, but not exclusively, Maths, English and Science;
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providing academic coaching and tutoring;
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providing opportunities to be involved in delivering peer mentoring, coaching and tutoring; and
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developing their mental, physical and moral capabilities through educational and leisure time activities
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
c. Strategies for achieving objectives
CoachBright's programmes are run in collaboration with Primary & Secondary schools, and typically span 12-15 weeks, with each session lasting an hour and led by an internally trained volunteer coach. The schools are responsible for selecting eligible students to participate in the programme, so long as the pupil selection aligns with the charity's guidelines.
CoachBright recruits exceptional volunteer coaches who commit to a minimum of one hour per week for a block of coaching, either at one of the charity's partner schools or through an online programme.
All volunteers undergo an online training and induction session before they begin coaching and must pass a DBS check.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
The volunteer coaches come from diverse backgrounds, but the vast majority are current university students studying undergraduate degrees.
The Senior Management Team and Trustees review our aims, objectives and activities at quarterly general board meetings. The reviews look at what we achieved and the outcomes of our work in the previous period.
These reviews also help us ensure our aims, objectives and activities remained focused on our stated purposes.
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
d. Activities undertaken to achieve objectives
Our main activities for the year continued to be the promotion and running of coaching programmes for primary & secondary-age pupils of disadvantaged socio-economic backgrounds. The activities we used to meet these objectives included:
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provide subject-specific, tailored coaching programmes with a focus on building pupils’ confidence and resilience in their learning.
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provide intensive, academic coaching through Core, Peer to Peer and Summer School Programmes
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- provide university trips and soft-skills workshops, aiming to raise aspirations and promote social and emotional learning
e. Main activities undertaken to further the Charity's purposes for the public benefit
CoachBright offers small group coaching to disadvantaged young people to enhance their academic performance, study skills, and self-assurance.
Our goal is to equip pupils with the grades & confidence required to maximise their potential in school and to equip them with the skills & desire to pursue further education, employment, or training after leaving school.
This is intended to lift the pupil from their socio-economic background and enable them to contribute positively to society.
To ensure that the support reaches the most disadvantaged young people, CoachBright partners with schools that have a higher-than-average proportion of pupils eligible for Pupil Premium funding.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
Achievements and performance
a. Main achievements of the Charity
Since transitioning to a charity in 2021 CoachBright has continued to grow both our scale and impact. Over the course of 2021/22, our first full year as a charity, we worked with nearly 4,000 disadvantaged young people from London, the South West, the South East, and the West Midlands. This was a growth of nearly 70% from the previous academic year, and demonstrates both the quality of our work and the need for the support that we provide.
In line with our coaching response to educational disparities, CoachBright measures the impact of its programmes across the three key indicators of confidence, independence, and resilience (see page 5 for more detail). We also evaluate the impact of our programmes according to grade-point progress.
Impact for Secondary and Peer-to-Peer Programmes
At the first and final session of our programmes, every pupil completes a questionnaire. The questionnaire asks pupils to self-assess their beliefs on a scale of 1-10 across 18 statements designed to give an aggregate score for each of confidence, independence, and resilience.
Sample statements include:
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I feel confident that I can understand the ideas I am taught in lessons
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I feel confident about my learning
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I reflect on and learn from my mistakes
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I can motivate myself to learn or revise at home
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I can bounce back if something goes wrong
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I am happy to ask for help when I need it
After both pre and post-programme data is collected, the results can be compared to establish the change which has occurred across the three aggregate measures over the course of our programme.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
Secondary Programme Impact overview, 2021/2022
In the academic year 2021/22, we ran 40 secondary core programmes in schools across London, South East, South West and West Midlands. Of these programmes, our total pre- to post-programme average across 1,000 surveyed students was as follows:
Across our confidence marking questions, the average pre-programme score was 39.2/60, which rose to 44.7/60 across our post-programme data.
Across our independence marking questions, the average pre-programme score was 34.9/60, which rose to 40.9/60 across our post-programme data.
Across resilience, the average pre-programme score was 39.1/60, which rose to 44.3/60 across our post-programme data.
We were really pleased to see stable increases in self-evaluated scores across all three of our impact markers.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
b. Review of activities
In addition to our in-house impact reporting, CoachBright enlists the expertise of evaluation specialists ImpactEd to carry out impact analysis on a sample of our programmes (across 13 schools in the academic year 2021/2022). ImpactEd use a similar self-evaluated quantitative approach to that given above and compile a detailed aggregate report at the end of the year summarising findings across all schools involved.
Key highlights from this year’s report:
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‘’Positive changes were observed across all social and emotional skills.’’
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‘’Percentage increases across metacognition, self-efficacy, and CoachBright’s custom outcomes were largely stable. The increase was the highest for metacognition followed by self-efficacy and grit. Increase in metacognition was statistically significant.’’
Core Programme Case Study
In Autumn 2021, Programme Officer Elliot coordinated a Year 11 programme at Perryfields Academy, in the West Midlands. CoachBright worked with 30 pupils across the programme’s duration, 100% of whom were Pupil Premium and/or Free School Meal recipients. After an initial meeting with programme school coordinator, Elliott and the coaches met with the pupils for the first time to get them excited about the upcoming programme. The sessions then began in earnest, with pupils branching off into their respective pairings to be coached in either Maths, English, or Science. Sessions ran weekly for the duration of the Autumn term leading towards a celebratory graduation ceremony but, alas, Omicron variant’s winter 2021 resurgence scuppered these plans!
To measure the impact of our programmes and monitor how sessions are progressing, CoachBright collects feedback each week from coaches and pupils. Pupils also fill out a survey at the beginning and end of their programme assessing their self-belief, confidence, and attitudes towards learning. Overall, Perryfields pupils’ confidence increased by 27% with the vast majority of the cohort feeling significantly more assured in their academic ability. Strong gains were also made in pupils’ resilience and metacognition self-assessments. One pupil summed up the positive impact of the programme when he reported one week, ‘ I’m finding it useful everyday and I hope to learn more from it’ .
Towards the end of the programme, Elliott recalls checking in on a Maths session to see two pupils giggling with their coach whose university accommodation had partially flooded the night before. Despite the unscripted lightheartedness, Elliott remembers this as a programme highlight since broadening pupil aspirations and deconstructing limiting beliefs is at the heart of CoachBright programmes. University can seem out of reach for many less advantaged pupils, but this interaction displayed the pupils’ imagination of themselves perhaps experiencing similar mishaps at university in the future one day. For Elliott, those small moments are why we do what we do at CoachBright.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
Peer to Peer Case Study
In Autumn Term 2021, CoachBright Programme Officer Ellis coordinated a peer-to-peer programme whereby fifteen Year 12 pupils at Reading’s King’s Academy Prospect coached 15 of their Year 10 peers on a 1:1 basis. Each coaching pairing worked on one of English, Maths, or Science. Overseen by Ellis, Prospect’s wonderful Year 12 coaches worked with their Year 10 peers to nurture confidence and independence in their studies. Hear from the school coordinator on her experience working with CoachBright to support these pupils.
How did you first hear about CoachBright and what we do?
‘’Our Headteacher met CoachBright’s CEO at a training event and was really impressed by the potential of the programme. He came into school with other CoachBright staff and launched the programme to our first cohort of Yr 12 and 10’s in Autumn 2019. I have coordinated the programme at school ever since.’’
What is a typical co-ordinator day like for you? Talk us through it.
‘’Alongside my co-ordinator role I am also a history teacher. I fit in the organisation of CoachBright and other programmes with my teaching commitments. I keep things organised by sending a weekly update email to all staff and students involved so everyone is in the right place at the right time! Support staff help me in ensuring that everything is set up for CoachBright and the sessions can start on time, as soon as normal school lessons have finished. I really like catching up with the students and CoachBright programme officers every week.’’
“Prospect Year 12 example session resource for their English coaching”
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
What has been your biggest win from coordinating so far?
‘’When I arrive in the room after a busy teaching day to find that the coaches and coachees have already got themselves settled into pairs and are working together. I also love seeing the students at graduation when they reflect on how far they have progressed.’’
How has coordinating helped with your own professional development?
‘’I have met lots of new people - both CoachBright staff and people at our local university. It has helped me develop my organisational skills, but mostly it has taught me not to underestimate what the students can do to help each other!’’
Why do you recommend others join CoachBright programmes?
‘’CoachBright is a great benefit to both the coaches and coachees. I have had positive feedback from every student involved in the programme so far. I really like the fact it is so personal and allows the coachee to steer the topics and pace so they really feel the benefits.’’
Anything else you’d like to add?
‘’I’m really proud of all our students who have taken part in CoachBright. They have all surpassed my initial expectations of what could be achieved.
In 2019 all our pairs worked successfully through the 7 weeks, making up any sessions missed during registrations and after school. In 2020 the pairs managed the additional challenge of online mentoring (due to Covid bubbles which meant that pairs couldn’t meet live). In 2021 we had our first set of coachees who became coaches. Wow! :-)
It is so lovely to see the potential teachers of the future delivering their first lessons!’’
Our thanks to the Co-ordinator for her work in coordinating these programmes over the years, and her passion which has enabled them to thrive so well. We look forward to working with King’s Academy Prospects cohorts in the future!
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
Financial review
The total income for the year was £848,817. The Trust made grants amounting to £499,598 during the year. During the year, the trusts spending on charitable activities was £754,080, on direct costs £82,153 and on support costs £671,927. Net income for the year was £605,874 and this amount was carried forward for next year plans.
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
CoachBright holds reserves to:
Fund cash flow fluctuations and to provide working capital in cases where funds are paid to us in arrears.
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Fund planned expenditure
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Fund variable delayed large cash outlays such as VAT returns
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Fund shortfalls in income when income does not reach expected levels.
The level of reserves is reviewed periodically by the management team & trustees.
Our reserves policy constitutes that the organisation's free reserves should not, if possible, fall below the equivalent of 4 months turnover ((current year budgeted turnover/12 months) X 4).
Structure, governance and management
a. Constitution
CoachBright is a registered CIO (Charitable Incorporated Organisation), number 1194092, incorporated and registered as a charity in April 2021. The CIO was established under a Constitution, which established the objects and powers of the CIO.
Coachbright previously traded under a not-for-profit limited company structure (Coachbright Ltd) however, in April 2021 the organisation continued operations under a newly registered CIO (Coachbright Charitable Trust). Employees of the organisation were transferred to the new CIO as well as contracts, funds, assets and liabilities. Although still a related party, the previous company structure is now dormant and will eventually be dissolved.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
b. Methods of appointment or election of Trustees
Every charity trustee must be a natural person. Under no circumstances shall any of the following serve as Trustees—
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a person aged less than 16 years;
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a person who is an undischarged bankrupt;
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an employee of the CIO;
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a person who has an unspent conviction involving dishonesty or deception or who would otherwise be disqualified from acting as a charity trustee by virtue of section 178-180 of the Charities Act 2011 (or any statutory re-enactment or modification of that provision).
Trustees during the year:
Qamar Riaz (Chair) Sarah Hardman Kelly McAree Muznah Mahmood (Treasurer) Geoff Lane
There were no resignations during the year.
Appointment of Trustees
Apart from the first Trustees, every Trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the Trustees.
In selecting individuals for appointment as Trustees, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
- c. Organisational structure and decision making policies
The Board delegates responsibility for the day-to-day operation of the Charity to the Chief Executive & Senior Management Team.
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
Plans for future periods
In 2022/23, we expect to maintain our support for 4,000 primary and secondary pupils across London, South East, South West and West Midlands. As a champion of high-quality and evidence-led practice, we are delighted to be a Tuition Partner on the National Tutoring Programme for the third year running. Alongside our university student-led programmes we expect to grow our peer-to-peer coaching programmes (senior pupils coaching their younger peers), allowing more pupils to develop their social and emotional learning with relatable school peers. Next year, we will establish greater links with universities, especially with the Universities of Reading, Winchester, and Plymouth, to help us bring more motivated and enthusiastic students on board as coaches on our programmes.
Organisational Development
Having doubled in size every year since our inception, we are expecting a period of consolidation over the next 3 years. Part of this will include systemising our in-house processes and systems to ensure our work is of the highest quality. This includes the creation of specialist roles such as our first-ever Director of Programmes, HR Manager, and Fundraiser.
Impact
As our programmes continue to take on a more holistic approach by considering attainment, social and emotional outcomes, and aspirations for our young people, there will naturally be a corresponding shift in our impact focus. This will be seen through the design of our programmes and our offering of new provisions such as a ‘Summer School’ initiative. Alongside this, we will expand our programmes by supporting disadvantaged university students and young professionals. This will include pilot projects with the University of Plymouth and Winchester to support their first-year disadvantaged students.
We are really excited for these next few years of expansion and consolidation, and of developing our partnerships with all those who share our goal of a socially mobile future. Watch this space!
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COACHBRIGHT CHARITABLE TRUST
TRUSTEES' REPORT FOR THE PERIOD ENDED 31 AUGUST 2022
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Trust deed. 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 order of the members of the board of Trustees and signed on their behalf by:
................................................ Q Riaz Chair Date: 08-May-2023
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COACHBRIGHT CHARITABLE TRUST
INDEPENDENT EXAMINERS' REPORT
Independent examiner's report to the Trustees of Coachbright Charitable Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the period ended 31 August 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of ICAEW, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 09-May-2023
Janice Matthews FCA
Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham Surrey TW20 9LF
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COACHBRIGHT CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2022
| Note Income from: Donations and legacies Charitable activities 3 4 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Net movement in funds Total funds carried forward |
Unrestricted funds 15 Apr 2021 - 31 Aug 2022 £ 848,817 511,137 1,359,954 753,780 753,780 606,174 606,174 606,174 |
Total funds 15 Apr 2021 - 31 Aug 2022 £ 848,817 511,137 |
|---|---|---|
| 1,359,954 | ||
| 753,780 | ||
| 753,780 | ||
| 606,174 | ||
| 606,174 | ||
| 606,174 |
The Statement of financial activities includes all gains and losses recognised in the period.
The notes on pages 6 to 13 form part of these financial statements.
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COACHBRIGHT CHARITABLE TRUST
BALANCE SHEET AS AT 31 AUGUST 2022
| Note Fixed assets Tangible assets 9 Current assets Debtors Cash at bank and in hand 10 Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Total net assets Charity funds Unrestricted funds Total funds |
190,056 522,899 712,955 (107,757) |
2022 £ 976 |
|---|---|---|
| 976 605,198 |
||
| 606,174 | ||
| 606,174 | ||
| 606,174 | ||
| 606,174 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................ ................................................ Q Riaz M I Mahmood Chair Treasurer Date: 08-May-2023 08-May-2023
The notes on pages 6 to 13 form part of these financial statements.
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COACHBRIGHT CHARITABLE TRUST
STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 AUGUST 2022
| Note Cash flows from operating activities Net cash used in operating activities 14 Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the period Cash and cash equivalents at the end of the period 15 The notes on pages 6 to 13 form part of these financial statements |
15 Apr 2021 - 31 Aug 2022 £ 524,082 |
|---|---|
| (1,183) | |
| (1,183) | |
| - | |
| 522,899 | |
| 522,899 | |
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COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
1. General information
Coachbright Charitable trust is a Charitable incorpororated organisation that has been registered since 15 April 2021. It provides educational programmes and tutoring to children and young people, their charity number and address can be found on page 1. This is the first reporting period for Coachbright Charitable trust and as such is a longer period from 15 April 2021 - 31 August 2022.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Coachbright Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
It is the Trustees opinion that based on available reserves and forecast income that the charity will remain a going concern for at least twelve months from the date of approval of these financial statements and the going concern basis of preparation of the accounts continues to be appropriate.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
2.4 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 allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
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COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
2. Accounting policies (continued)
2.4 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Computer equipment - 20%
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.8 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the period.
2.9 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
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DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
3. Income from donations and legacies
| Donations Grants Income from charitable activities Income from charitable activities |
Unrestricted funds 15 Apr 2021 - 31 Aug 2022 £ 349,219 499,598 848,817 Unrestricted funds 15 Apr 2021 - 31 Aug 2022 £ 511,137 |
Total funds 15 Apr 2021 - 31 Aug 2022 £ 349,219 499,598 |
|---|---|---|
| 848,817 | ||
| Total funds 15 Apr 2021 - 31 Aug 2022 £ 511,137 |
4. Income from charitable activities
5. Analysis of expenditure by activities
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| 15 Apr 2021 - | 15 Apr 2021 - | 15 Apr 2021 - | |
| 31 Aug 2022 | 31 Aug 2022 | 31 Aug 2022 | |
| £ | £ | £ | |
| Direct costs | 81,853 | 671,927 | 753,780 |
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DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
5. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Insurance Legal fees Advertising Rent Staff training Subscriptions Telephone & internet Meeting costs Bank charges General expenses Independent Examiner's remuneration 6. |
Activities 15 Apr 2021 - 31 Aug 2022 £ 627,575 207 2,474 328 1,425 16,646 5,294 11,244 5,892 412 276 154 671,927 |
Total funds 15 Apr 2021 - 31 Aug 2022 £ 627,575 207 2,474 328 1,425 16,646 5,294 11,244 5,892 412 276 154 |
|---|---|---|
| 671,927 | ||
| 2022 | |
|---|---|
| £ | |
| Fees payable to the Charity's Independent Examiner for the Independent Examination of the | |
| Charity's annual accounts | 2,750 |
7. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
15 Apr 2021- 31 Aug 2022 £ 577,983 43,174 11,360 |
|---|---|
| 632,517 |
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DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
7. Staff costs (continued)
The average number of persons employed by the Charity during the period was as follows:
| Employees No employee received remuneration amounting to more than £60,000 in either year. The remuneration of key management personnel was £168,485. Trustees' remuneration and expenses 8. During the period, no Trustees received any remuneration or other benefits. During the period ended 31 August 2022, no Trustee expenses have been incurred. 9. Tangible fixed assets Cost or valuation Additions At 31 August 2022 Depreciation Charge for the period At 31 August 2022 Net book value At 31 August 2022 |
2022 No. 25 Computer equipment £ 1,183 |
|---|---|
| 1,183 | |
| 207 | |
| 207 | |
| 976 |
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DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
10. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2022 £ 105,981 38 84,037 |
|---|---|
| 190,056 |
11. Creditors: Amounts falling due within one year
| 2022 | 2022 | |
|---|---|---|
| £ | ||
| Trade creditors | 8,044 | |
| Other taxation and social security | 26,701 | |
| Other creditors | 2,392 | |
| Accruals and deferred income | 70,620 | |
| 107,757 | ||
| 2022 | ||
| £ | ||
| Resources deferred during the period | 70,620 | |
| Deferred income relates to coaching and mentoring programmes that will take place throughout the 2022/23 | ||
| academic year. |
12. Summary of funds
Summary of funds - current period
| Balance at 31 | |||
|---|---|---|---|
| Income | Expenditure | August 2022 | |
| £ | £ | £ | |
| General funds | 1,359,954 | (753,780) | 606,174 |
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DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
13. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2022 £ 976 712,955 (107,757) 606,174 |
Total funds 2022 £ 976 712,955 (107,757) |
|---|---|---|
| 606,174 |
14. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Decrease/(increase) in debtors Increase in creditors Net cash provided by operating activities |
2022 £ 606,174 |
|---|---|
| 207 (190,056) 107,757 |
|
| 524,082 |
15. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2022 £ 522,899 |
|---|---|
| 522,899 |
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DocuSign Envelope ID: AACB6C4E-DD13-4CC4-B44E-1204D11F6AAB
COACHBRIGHT CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022
16. Analysis of changes in net debt
| Cash at bank and in hand | Cash flows £ 522,899 522,899 |
At 31 August 2022 £ 522,899 |
|---|---|---|
| 522,899 |
17. Related party transactions
Other than the relationship with Coachbright Ltd as detailed in the Trustees Report the Charity has not entered into any related party transactions during the period, nor are there any outstanding balances owing between related parties and the Charity at 31 August 2022.
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