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2023-08-31-accounts

Charity Registration No: 1201663 England & Wales

You’re Cherished A Charitable Incorporated Organisation

Annual Report & Financial Statements for the period 1 July 2022 to 31 August 2023

You’re Cherished CIO (no: 1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

CONTENTS

Page
Legal & Administrative Information 2
Trustees Annual Report 3 – 15
Independent Examiners Report 16
Statement of Financial Activities 17
Balance Sheet 18
Notes to the Accounts 19 - 24

Page 1

You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

LEGAL & ADMINISTRATIVE INFORMATION

Trustees Russell Hardy Appointed 10/10/2022 Kim Madill Appointed 10/10/2022 Wendy Boast Appointed 10/10/2022 Vivienne Williamson Appointed 10/10/2022 Chief Executive Officer Hannah Simnett Charity number 1201663 Principal address 2[nd] Floor 198 Boldmere Road Sutton Coldfield B73 5UE Independent examiner Stephanie Beeston-Clarke FCCA Beeston-Clarke Accountants Ltd 242 Leicester Road Markfield Leicester LE67 9RG Bankers Barclays Bank Plc

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT

The trustees present their report and financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS102) in preparing the annual financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity governing document, 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 published in October 2019 (second edition).

OBJECTIVES AND ACTIVITIES

Principal objectives and activities

You’re Cherished exists to offer a non-judgemental space for children to feel safe, and develop attachment-focused relationships with our dedicated team of Cherished & Roar mentors and leaders, where connection takes priority.

We meet the needs of the children we support by offering a tailored approach to our service; we base the approach on the assessed needs identified from the referral agent. The needs of the children we serve include those who have experienced adverse childhood experiences and/or display behaviours that would benefit from confidence building, selfesteem development and emotional regulation.

The Charitable objectives of You’re Cherished are:

1) To act as a resource for young people up to the age of 18 including but not limited to those who have experienced Adverse Childhood Experiences, by providing programmes which:

(c) provide recreational and leisure time activities in the interests of social welfare with a view to improving conditions of life.

2) The advancement of education in children’s mental health and wellbeing and supporting children who have experienced Adverse Childhood Experiences through the provision of training workshops and conferences to parents/carers and professionals and members of the public whose work involves contact with children and young people.

For the purposes of clarity Adverse Childhood Experiences (ACEs) are defined as highly stressful, and potentially traumatic, events or situations that occur during childhood and/or adolescence. They can be a single event, or prolonged threats to, and breaches of, the young person’s safety, security, trust or bodily integrity.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

Structure, governance and management

The charity is a Charitable Incorporated Organisation registered on 20 January 2023 under the Charities Act 2011 and is governed by its Constitution. Operations transferred from the previous entity – Your Cherished CIC was incorporated on 14 June 2013 and operated successfully as a CIC for nearly ten years.

None of the Trustees have any beneficial interest in the charity. All of the Trustees are volunteers. Trustees are assisted to fulfil their duties by the chief executives and by other advisors, who offer information and assistance in undertaking all their governance tasks. It is the responsibility of the Trustees to meet to make balanced, proportionate and clear decisions about the future of the charitable company, and make all disclosures about the organisation. The Trustee’s meet every two months, but receive weekly verbal updates from the CEO.

Through consideration of reports on financial management, income, expenditure, liquidity, investments and of forecasts for the next twelve months, Trustees have analysed any risks to the charity, and have identified no material uncertainties that cast doubt about the ability of the company to continue as a going concern. The services offered has been running for ten years, and the client base is relatively stable.

Our previous years accounts were as a CIC, this is our first year operating as a registered charity, and this is our first Trustees report.

The Trustees and who served during the year and up to the date of this report were:

● Russel Hardy Chair Appointed 10/10/2022
● Vivienne Williamson Appointed 10/10/2022
● Wendy Boast Appointed 10/10/2022
● Kim Madill Appointed 10/10/2022
Board advisors:
● Hannah Simnett CEO
● Lisa Dickson Management Accountant (CGMA)

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

Structure, governance and management (continued)

Trustee Recruitment and Appointment

The constitution states a minimum of 3 trustees and a maximum of 12. You’re Cherished currently operates with 4 trustees, which the Trustees consider adequate for the size of the organisation. You’re Cherished will maintain a number of 4 trustees for the coming year.

New Trustees are recruited from the local community, through a recruitment process run by the Chairman. The need for new trustees may be driven by retirement of an existing trustee, or by a skills gap in the Board.

You’re Cherished has conducted a full Skills Audit of the trustees in 2024, plus we maintain a RAID log, a Conflict-of-Interest register, and a full strategic plan.

The Board of Trustees must be representative of the sector it serves, both in terms of recipients and service providers. Our current trustees include skills and experience in:

New Trustees are selected on their ability to provide time and skills to enhance the charity and its operations. This can include the network of local and national business and services. Any candidate is asked to declare any conflicts of interest at this point.

  1. The Chairman and CEO will interview the potential trustee to ensure that the skills and commitment are evident.

  2. The shortlisted persons are then interviewed by the other trustees, and informally introduced to members of staff. A consensus is taken as to the “fit” with the culture.

  3. We will then conduct a series of checks including DBS, criminal records etc.

If all checks return a positive outcome a formal offer will be made to the successful candidate, with a full explanation of responsibilities of a trustee of a charity, and You’re Cherished requirements of them.

Upon acceptance, the trustee will agree to the Data Protection Policy, Safeguarding and many other policies that we maintain. The register at the Charities Commission will be updated.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

Structure, governance and management (continued)

Trustee Induction and Training

When a new Trustee is appointed, they are provided with a full induction into the operations of the charity. This includes:

Every quarter Trustees undertake a strategy review meeting where the plan for the charity and review performance is further developed. There is an annual strategic planning review and the review of the year’s operations.

Training is on-going as the service development continues to broaden.

Organisational Structure

The Board of Trustees are responsible for governance, making strategic and policy decisions, approval of budgets, the sale or purchase of major assets such as leases for land and buildings, and the starting/ending of services under local authority contracts or Academies and Trusts.

The board of Trustees meet every two months to manage and monitor the strategic direction and operations of the Charity. The CEO provides a weekly verbal update, and the Trustees have additional meetings if business decisions are urgent.

Detailed policy making is delegated to the following sub-committees who make recommendations back to the board for final ratification:

The Trustees have delegated the operational and day-to-day decisions to the Chief Executive Officer. No board member receives remuneration for their role as a Trustee.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

Structure, governance and management (continued)

Partners

You’re Cherished does not operate any partnerships for the delivery of services, and does not sub-contract any services.

Risk Management

The Trustees review the major risks which the charity faces at each board meeting and conducts a deep review annually. A RAID log (risks, actions, issues and decisions) is maintained.

The Board will debate and call for further analysis where required, and then vote for a course of action. All meetings are recorded and usually formally minuted.

A nominated Trustee is the Charity Safeguarding officer.

Governance and Internal Control

The charity’s system of internal controls is designed to provide reasonable but not absolute assurance against material misstatement or loss. The Trustees are satisfied that the systems in place reduce their exposure to major issues; this includes financial reporting systems, DBS checking, and feedback and reporting of service performance.

Our IT systems are protected by Google encryption and are fully backed-up in case of technical failures.

ACHIEVEMENTS AND PERFORMANCE

2023 was the year that You’re Cherished transitioned from a Community Interest Company to becoming You’re Cherished Charitable Incorporated Organisation. This means that it is easier for supporters to leave us legacy funds, and widens our market for grants and contracts, so that we can deliver more services to the community.

Cherished is a charity which meets the needs of children through attachment-focused and trauma responsive support. The child referrals we have received over the past year have been sent by: schools (52%), parents (34%) and child services (14%).

You’re Cherished publishes an annual Impact Report, giving exceptional detail of the services we have delivered and their impact on the community. This available at the link in our website https://www.cherisheduk.org.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Below is a brief summary of the Impact Report and what our service means to the local communities:

In total we directly impacted 1727 children and young people with our services in the West Midlands, helping them to feel safe, seen, soothed and secure. We have achieved this through delivery of the following events and courses:

This means that 1727 children have improved their mindset and how they feel about themselves and their circumstances, helping them to raise their aspirations and confidence despite what might be challenging circumstances. We can evidence the improvements via the feedback from all children engaged, most common feedback means we see a positive impact in children as in the following examples:

We have supported 40 schools, helping the education staff understand better how to improve students’ behaviours and performance. This means fewer exclusions and better attendance. School feedback includes the following:

You’re Cherished deploys 75 volunteer mentors to deliver services across the community; we train the mentors to a high level. In the last year we trained 17 new mentors which means we are increasing the awareness of trauma generally, as well as providing more services.

We also deployed 22 work experience students throughout the year and worked closely with local universities.

Cherished delivers services to schools, Academies and Trusts, to create a Trauma Informed society. This includes teacher training, and training for many child service workers. We delivered 19 training courses to a total of 234 adults.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

In addition to direct impact on children, You’re Cherished is now playing a significant role in the advancement of understanding of Trauma for many services across the Midlands and nationally. This includes major events as follows:

The work that Cherished has done has resulted in many awards; during the last year the You’re Cherished was awarded the Kings Award for Voluntary Services. This was a thrilling moment which reflected the dedication and appreciation of what we offer to the community. This award means wider recognition of the needs in society, and the services that can relieve situations for children and young people in our communities.

OUR VOLUNTEERS

You’re Cherished deploys 75 volunteer mentors to deliver services across the community; we train the mentors to a high level. In the last year we trained 17 new mentors which means we are increasing the awareness of trauma generally, as well as providing more services

This means we have delivered one-to-one mentoring of 12 weeks to more than 80 children in need, helping them to understand themselves, their trauma and their choice of responses. This is often a turnaround point in a young person's life and our wonderful mentors are the people who do this.

In addition, our volunteers deliver workshops and clubs, activities that range from forestbathing to exam coaching. It is our mentors who reach the 1727 young lives, providing role models, support and a safe place to talk.

Fund-raising is vitally important to us, and our volunteers have stepped up to generate funds through all kinds of sponsorships – sky diving, walking Mount Snowdon, The Big Help Out, and many other events raised all important funds, and many volunteers created care packs for kids.

We celebrate our volunteers at an annual Cherished Empowerment Day, providing great speakers, giving out awards, training sessions and sharing success stories. In return our volunteers are full of enthusiasm, and regard You’re Cherished as a special community of amazing people who make a difference in the community.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

PLANS FOR THE FUTURE

You’re Cherished has a well-documented Strategic Plan 2023 to 2026.

Our Vision:

Our vision is to ensure that all of the children who we support feel safe, loved, and accepted for who they are. We offer a safe space through kindness, compassion and connection where children can recognise their worth and know that they are Cherished and Able.

You’re Cherished mission is to:

We meet the needs of the children we support, offering a tailored approach to our service based upon the referral needs that we are presented with from the referral agent. The needs of the children we serve include those who have experienced adverse childhood experiences and/or display behaviours that would benefit from confidence building, self-esteem development and emotional regulation.

You’re Cherished: Key Objectives

Cherished primary objective is to be a resource for children and young people; to help them advance in life, preserve and protect good health and wellbeing through providing services to:

Cherished supporting objectives are:

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

PLANS FOR THE FUTURE (continued)

You’re Cherished: Key Objectives (continued)

Cherished strives for a trauma informed society

Our 3 Year Strategic Plan:

Adapting Areas of Service to Ensure we Expand and Grow to Support more Children and Young people.

We listen to those who we support; children, parents, professionals and schools. We ensure that the needs of the child are always at the centre of our support. We adapt our services accordingly based upon the needs of the child. By shaping our services with children, young people and families wherever possible, we'll make sure we deliver for their needs. We will work collaboratively alongside schools, local authorities and other referral agents so our services support their needs, ultimately helping more children to thrive. Our strategic plan is to:

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

PLANS FOR THE FUTURE (continued)

Our 3 Year Strategic Plan (continued)

Adapting Areas of Service to Ensure we Expand and Grow to Support more Children and Young people (continued)

Deliver Targeted Growth

Recruit, Develop and Retain Fantastic Volunteers and Staff to Continue to Deliver our Core Services

Our staff and volunteers are at the centre of our charity. Having the right people and skills we need enables us to deliver the best service and achieve our desired outcomes for the vulnerable children, young people and families we work with. Whilst recruiting and retaining staff and volunteers in the current environment is challenging, our strategy will put us in the best position to meet our organisational needs. By building on our already strong reputation within our schools and community and across our supporting functions, this will help us to attract more fantastic volunteers and staff. At Cherished we support all staff and volunteers by empowering them to develop and achieve their potential.

Influence Financial Decision Makers & Grow our Fundraising Campaigns to help us Improve the Lives of Children & Young People

To grow and develop such impactful services, it’s extremely important that we continue to raise funds from donors, supporters and through fundraising activities. We aim to increase our fundraising income by building on our existing campaigns and focusing on longer term opportunities. We are committed that our activities continually grow year on year and increase the number of like-minded people to support us in our goals.

To help us achieve this we will:

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

PLANS FOR THE FUTURE (continued)

Influence Financial Decision Makers & Grow our Fundraising Campaigns to help us Improve the Lives of Children & Young People (continued)

Governance

With our recent transition to a charity we have identified the importance of having an Advisory Board. The members we are choosing have a deep understanding of the nonprofit sector, child welfare, or related fields, providing valuable insights to help the charity navigate complex issues.

We will be inviting experts in Mental Health First Aid, an Executive Headteacher, a local Councillor and business owner, a local University Lecturer, a Specialist in Leadership and communication, Founder of Act for Autism and a Trauma Informed Specialist who works for a children’s charity. Their strategic input will help our organisation make informed decisions and adapt to changing circumstances.

With their diverse experiences, our advisory board members will help identify potential risks and help us develop strategies to mitigate them. This proactive approach aims to provide resilience in the face of challenges.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES' REPORT (continued)

Public benefit

In setting our objectives and planning our activities, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a Charity (PB2)'.

Financial Review

The organisation is funded by donations, grants, provision of training and mentoring in schools, workshops and conferences.

The charitable company's income totalled £250,335 (2022: £194,359).

The charity generated a deficit in the year of £17,196 (2022: surplus £1,133).

As at the period ending 31 August 2023, the Charity had negative unrestricted and free reserves of £26,517 (2022: negative £1,379). Restricted funds at the period end were £7,942 (2022: £nil).

During the period the CIC converted to a CIO. Under The Charitable Incorporated Organisations (Conversion) Regulations 2017 (s.14-3a & 3b), the comparative figures in these accounts are that of the CIC at its last financial year end date (30 June 2022) prepared under the Companies Act 2006. The current year has been prepared under the Charities Act 2011 and The Charities Statement of Recommended Practice.

Reserves Policy

The reserves policy seeks to provide financial stability, mitigate risks, and support the longterm sustainability of You’re Cherished.

The Board of Trustees reviews the reserves policy annually. Given the current financial situation, the Trustees are committed to building a reserves fund of £50,000. This will be for emergencies and the reserves should increase to no more than £120,000.

The financial position and reserves are monitored regularly, and the Trustees are confident that the charity is in a position to continue for the next 12 months and beyond.

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

TRUSTEES RESPONSIBILITY STATEMENT

The Trustees are responsible for preparing the Trustees' Report and 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (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 the Trustees on 26 June 2024 and signed on its behalf by:

Russell Hardy (Jun 27, 2024 08:37 GMT+1)

_____ Russell Hardy Chair of Trustees

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You’re Cherished CIO (1201663) FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

INDEPENDENT EXAMINERS REPORT FOR THE PERIOD 1 JULY 2022 TO 31 AUGUST 2023

I report the trustees on my examination of the accounts of the charity for the period to 31 August 2023 which are set out on pages 17 to 24.

Responsibilities and basis of report

As the charity trustees you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts as required under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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. that accounts do not accord with those records; or

  3. that 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 the 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.

Stephanie J Beeston-Clarke FCCA Beeston-Clarke Accountants Ltd Chartered Certified Accountants 242 Leicester Road Markfield Leicester LE67 9RG

Dated: 26 June 2024

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You're Cherished

STATEMENT OF FINANCIAL ACTIVITIES 31 August 2023

Income
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total Incoming Resources
Expenditure
Raising Funds
6
Charitable activities
7
Total Expenditure
Reconciliation of Funds
Total funds brought forward at
1 July 2022 as CIC
Total funds carried forward at
31 August 2023
Transfers
Net movements in funds
Note
Donations & legacies
Net income/(expenditure)
Transfers between funds		 Note Unrestricted
Funds
2023
£
50,694
106,618
5,573
-		 Restricted
Funds
2023
£
-
87,450
-
-		 Total
Funds
CIC prior
year
2023
2022
£
£
50,694
49,971
194,068
136,138
5,573
8,250
-
-
250,335
194,359
13,217
5,895
254,314
187,331
267,531
193,226
(17,196)
1,133
162,885 87,450
13,034
174,971		 183
79,343
188,005 79,526
(25,120) 7,924
(18) 18 -
-
(25,138)
(1,379)		 7,942
-		 (17,196)
1,133
(1,379)
(2,512)
(18,575)
(1,379)
(26,517) 7,942

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

The notes on pages 19 to 24 form part of these financial statements

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You're Cherished

BALANCE SHEET 31 August 2023

Current Assets
Debtors
Cash at bank and in hand
Creditors - amounts falling due
within one year
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY:
Restricted Funds
Unrestricted Funds
TOTAL CHARITY FUNDS		 Note
10
11
16
17		 £
£
£
£
7,159
16,519
15,187
20,270
22,346
36,789
40,921
38,168
(18,575)
(1,379)
(18,575)
(1,379)
7,942
-
(26,517)
(1,379)
(18,575)
(1,379)
2023
CIC Prior Year
2022		 £
£
£
£
7,159
16,519
15,187
20,270
22,346
36,789
40,921
38,168
(18,575)
(1,379)
(18,575)
(1,379)
7,942
-
(26,517)
(1,379)
(18,575)
(1,379)
2023
CIC Prior Year
2022
22,346
40,921
7,942
(26,517)
(1,379)
(1,379)

The accounts were approved by the Trustees' on 26 June 2024 and were signed on their behalf by :

Russell Hardy (Jun 27, 2024 08:37 GMT+1)

Russell Hardy Dated Chair of Trustees

The notes on pages 19 to 24 form part of these financial statements

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You're Cherished

NOTES TO THE ACCOUNTS For the period ended 31 August 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 (see note 14), and are presented in sterling. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

During the year the charity has converted from a Community Interest Company (CIC) to a Charitable Incorporated Organisation (CIO). As this is the first year of charity accounting prior year comparatives are prepared under the Companies Act and the current period has been prepared under the Charities Act.

Income recognition - conversion year

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 the 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.

As this period is the conversion period from the CIC to the CIO, any deferred income in the CIC at 30 June 2022 has been recognised as income in these first charity accounts.

Expenditure recognition

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.

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You're Cherished

NOTES TO THE ACCOUNTS For the period ended 31 August 2023

1. ACCOUNTING POLICIES (continued)

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. The allocation of governance and support costs is analysed in note 7.

Restricted 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.

Unrestricted Funds

Free reserves that are those available for the general purposes of the charity, after deduction of restricted funds

2. Donations & Legacies
Donations
Grants
Total
3. Income from Charitable Activities
Blossom
ROAR
Training & Mentoring
Grants
Other
Total
4. Income from Other Trading Activities
Fundraising
Sales of merchandise
Total
5. Investment Income
Bank Interest Receivable
Total		 Unrestricted Restricted
CIO - 2023
CIC - 2022
47,944
2,750		 £
£
-
47,944
30,871
-
2,750
19,100
50,694 -
50,694
49,971
Unrestricted Restricted
CIO - 2023
CIC - 2022
30,565
4,500
28,786
29,689
13,078		 £
£
9,472
40,037
17
7,398
11,898
20,730
-
28,786
47,178
70,580
100,269
63,513
-
13,078
4,700
106,618 87,450
194,068
136,138
Unrestricted Restricted
CIO - 2023
CIC - 2022
3,690
1,883		 £
-
3,690
4,900
-
1,883
3,350
5,573 -
5,573
8,250
Unrestricted Restricted
CIO - 2023
CIC - 2022
- £
£
-
-
-
- -
-
-

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You're Cherished

NOTES TO THE ACCOUNTS For the period ended 31 August 2023

6. Raising Funds
Fundraising
Merchandise
Total Expenditure on Raising Funds
7. Charitable Activities
a) Analysis of direct charitable activities
Service delivery
Venue hire
Refreshments
Salaries
Training
Travel
Marketing
Sundry
Total
b)
Analysis of support costs
Salaries
Premises costs
Computer & IT
Office
Administration
Travel
Insurance
Subscriptions
Consulting
Recruitment
Donations
Bad debts
Sundry
c) Analysis of governance
Accountancy
Independent Examiner's Fees
Legal & compliance fees
Total
Total Charitable Expenditure		 Unrestricted Restricted CIO - 2023
CIC - 2022
11,325
1,709		 -
183		 £
£
11,325
5,640
1,892
255
13,034 183 13,217
5,895
Unrestricted Restricted CIO- 2023
CIC- 2022
£
£
22,747
15,141
7,843
4,695
947
836
81,248
7,777
10,191
9,077
736
1,351
987
1,440
949
903
£
20,818
5,751
947
6,662
10,191
-
987
949		 £
1,929
2,092
-
74,586
-
736
-
-
46,305 79,343 125,648
41,220
Unrestricted
Funds		 Restricted
Funds		 CIO - 2023
CIC - 2022
£
77,333
19,339
7,273
11,842
5,268
7
963
529
-
-
-
-
2,334		 £
-
-
-
-
-
-
-
-
-
-
-
-
-		 £
£
77,333
98,911
19,339
15,725
7,273
8,005
11,842
20,160
5,268
2,016
7
301
963
843
529
387
-
1,376
-
391
-
196
-
126
2,334
(6,292)
124,888 - 124,888
142,145
Unrestricted
Funds		 Restricted
Funds		 CIO - 2023
CIC - 2022
£
£
2,352
2,664
1,200
-
226
1,302
£
2,352
1,200
226		 £
-
-
-
3,778 - 3,778
3,966
174,971 79,343 254,314
187,331

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NOTES TO THE ACCOUNTS For the period ended 31 August 2023

8. Net Income/(Expenditure)
Net income/(expenditure) for the year is stated after charging:
Independent Examiner's Fees
9. Analysis of Staff Costs
Employee costs during the year were:
Wages & Salaries
Social security costs
Pension costs
Total		 CIO - 2023
CIC - 2022
£
£
1,200
-
CIO - 2023
CIC - 2022
£
£
149,063
94,964
6,892
2,595
2,626
1,352
158,581
98,911

The average head count of employees during the year was 10 (2022: 9)

No staff were paid more than £60,000 during the year.

10. Debtors
Debtors
Other debtors
Prepayments
11. Creditors : Amounts falling due within one year
Trade creditors
Other creditors
Deferred income
Accrued expenses		 CIO - 2023 CIC - 2022
£
2,530
3,126
1,503		 £
10,600
2,626
3,293
7,159 16,519
CIO - 2023 CIC - 2022
£
17,944
9,467
10,000
3,510		 £
11,846
4,749
21,500
73
40,921 38,168

12. Operating lease commitments

At the reporting end date the charitable company 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		 CIO - 2023
CIC - 2022
£
£
6,661
12,501
1,026
9,634
7,687
22,135

13. Capital Commitments & Post Balance Sheet Events

There were no capital commitments at 31 August 2023 or 30 June 2022.

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You're Cherished

NOTES TO THE ACCOUNTS For the period ended 31 August 2023

14. Related Party Transactions

None of the Trustees have been paid any remuneration in their role as a Trustee in respect of the years ended 31 August 2023 and 30 June 2022. During the year the charity received donations from Trustees as follows:

Donations of £19,000 (2022: £12,000 ) were received from Fosse Healthcare Ltd, a company where Trustee Russell Hardy is the CEO.

Unrestricted donations from Trustees amounted to £285 in aggregate (2022: £240).

15. Going Concern

The Trustees have assessed the risk to the Charity in relation to going concern. At the time of approving the financial statements, although the cashflow position remains challenging, the Trustees have a reasonable expectation that the CIO will secure adequate resources to continue in operational existence for the foreseeable future, thus the going concern basis continues to remain appropriate.

16. Restricted Funds Movement Analysis

Children in Need
Everson Trust
Nuffield Health
SCCT ROAR
Staffordshire Police
Commissioner
Awards for All		 Balance at
01/07/2022
-
-
-
-
-
-		 Income
28,580
2,000
30,000
7,398
9,472
10,000		 Expenditure
28,597
1,919
30,001
6,454
2,555
10,000		 Transfers
17
-
1
-
-
-
18		 Balance at
31/08/2023
-
81
-
944
6,917
-
- 87,450 79,526 7,942

Children in Need - grant towards running activities

Everson Trust - grant towards core costs

Nuffield Health - grant to fune 1 full time Mentor & Trainer to deliver the Blossom and ROAR Community Groups, and run Cherished and I Am Able courses.

SCCT ROAR - grant towards the running of the ROAR programme for boys over 2 years.

Staffordshire Police Commissioner - to fund a Youth Worker to deliver the Blossom project over a year and an 8 week Cherished course for 16 girls.

17. Unrestricted Funds Movement Analysis

Unrestricted Funds Balance at
01/07/2022
(1,379)		 Income
162,885		 Expenditure
188,005		 Transfers
(18)
(18)		 Balance at
31/08/2023
(26,517)
(1,379) 162,885 188,005 (26,517)

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You're Cherished

NOTES TO THE ACCOUNTS For the period ended 31 August 2023

18. Analysis of Net Assets Between Funds
Restricted funds
Unrestricted funds
At 31 August 2023		 Note
16
17		 Fixed
Assets
-
-		 Liabilities
7,942
(26,517)
(18,575)
Net Current
Assets/		 Total
7,942
(26,517)
- (18,575)

Page 24