**Charity Registration No. 228352** **Company Registration No. 00634588 (England and Wales)** # **COLCHESTER CATALYST CHARITY LIMITED BY GUARANTEE** **ANNUAL REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2023** ## **COLCHESTER CATALYST CHARITY** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|C Hayward MBA NPQH|| |---|---|---| ||P W E Fitt FCA|| ||Dr N J Busfield MA, PhD|| ||Dr M P Hickman MB B.Chir DCH|| ||M F Pertwee BA (Hons)|| ||K Songhurst LLB(Hons)|| ||E Thrower DipCOT, MHCPC|| ||I S Turner MA MBA|| ||Dr S MacDonnell MBBS FRCA FFICM|| |**Secretary**|P W E Fitt FCA|| |**Charity number**|228352|| |**Company number**|00634588|| |**Registered office**|14 Dedham Vale Business Centre|| ||Manningtree Road|| ||Dedham|| ||Essex|| ||CO7 6BL|| |**Auditor**|Streets Audit LLP|| ||Tower House|| ||Lucy Tower Street|| ||Lincoln|| ||LN1 1XW|| |**Bankers**|National Westminster Bank plc|Colchester| |**Solicitors**|Birkett Long|Colchester| ## **COLCHESTER CATALYST CHARITY** ## **CONTENTS** ||**Page**| |---|---| |Chairman's report|1| |Administrator's report|2 - 6| |Main grants and donations over £3,500|7| |Development Manager's report|8 - 13| |Trustees report|14 - 16| |Statement of Trustees responsibilities|17| |Independent auditor's report|18 - 21| |Statement of financial activities|22| |Balance sheet|23| |Statement of cash flows|24| |Notes to the financial statements|25 - 32| ## **COLCHESTER CATALYST CHARITY** ## **CHAIRMAN'S REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ We are extremely fortunate at Colchester Catalyst Charity to have stability but also innovation. Board Directors change very occasionally and our staff team currently remains constant. Each year, as we reflect on the last twelve months and look forward to the coming year, we count these as blessings. Stability means that there is a consistent and knowledgeable approach from a team of people, together with a deep appreciation of all the hard work which goes on in the health care field. Innovation means that there is flexibility to adapt to changing situations, plus welcoming new ideas and ways of working. Every January, the Board reviews its performance, monitors the Charity’s risks and sets the year’s grant budget and Strategic Priorities, all of which give us direction for the next twelve months. We also prepare ourselves for changes which might come in the form of economic challenges, the health picture of the CO postcode area or any unexpected occurrences. The priorities enable our team of Rodney Appleyard, Stephanie Grant and Wendy Larkin to bring relevant grant applications to the Board, monitor ongoing accounts and past grants and work with charities to think through their applications. They also support continuing work with other funding partners to catalyse our grants and enhance them. The reports from Rodney Appleyard and Stephanie Grant explain this in more detail. Peter Fitt’s report will outline some of the financial challenges we face – and of course, these are echoed by many in the charitable and not-for-profit sectors. However, we also hold sacrosanct that we exist to hold true to our Object. It’s worth stating it again at the beginning of this Annual Report (and not only at the end!) Colchester Catalyst Charity aims to improve the health of people living within the CO postcode areas by making a positive and ongoing contribution to the improvement of healthcare services in this region, specifically where help is not available from statutory organisations. In order to provide support where a grant will benefit the greatest number of people, we pay attention to key research about health care needs in our area. Overall, the most important word for us all is ‘Catalyst’ and we aim to keep this at the forefront of our thinking. As well as grants to individual charities, the team also considers whether there is scope for our grant being a catalyst for other funders to support a project, or for them to pick up the funding once our grant has been spent. In 2023 our focus for grant making was to continue with support for Special Individual Needs equipment, Respite Care and Counselling; schemes which aimed to prevent health problems arising in the first place; those dealing with health inequalities; mental wellbeing with particular concern for suicides of young people; alcohol and drug misuse and end of life care. The subsequent reports outline how those aims have been met and how much has been catalysed through partnership working. We are all very pleased that so much has been achieved at a time when many organisations face severe financial pressures. Thank you to all the people who help us to do our job, whether it’s working in partnership, sitting on a Committee, completing our audit or looking after our office needs. All of you make such a difference to the lives of so many people. Thank you to the Board who give freely of their time and expertise. And thank you to Rodney Appleyard, Stephanie Grant and Wendy Larkin who continue to catalyse the Object of the Charity with such careful and kind professionalism. **Christine Hayward Chairman 26 February 2024** - 1 - ## **COLCHESTER CATALYST CHARITY** ## **ADMINISTRATOR'S REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ This is my fourteenth Administrator’s report for Catalyst and we continue to work closely with a small dedicated team comprising Rodney Appleyard, our Development Manager, Wendy Larkin, Assistant to the Administrator and myself. 2023 saw all our budgets reduced somewhat as we recovered from a turbulent economic situation. Catalyst is needed more than ever as other funding streams run dry and I am very pleased to say that Catalyst continued to provide support and make a positive and ongoing contribution to the improvement of health care within the CO postcode area. Although there were some tough economic challenges in 2023 which saw our budgets stretched to the limit, I think that we should be very pleased that overall that there has been an upturn on the value of our investments from last year which means that we are moving in the right direction. It is over 30 years since Catalyst became a grant making charity and since that time £11 million has been given in grants and the charity is now worth over eleven and a half million pounds. I think everyone agreed that our 2023 AGM at Wivenhoe House was a great success, and our guests were very moved by the inspirational stories from two young carers who told us how their lives had been hugely improved thanks to the support provided by Action for Family Carers. Many are forced to carry a number of challenging responsibilities on their shoulders at a very young age. We were also pleased to welcome Tom Harrison, the CEO of Age Well East who spoke about how older people are supported by Age Well East’s innovative befriending scheme. We received many comments afterwards with words such as ‘phenomenal’, and ‘the wonderful speakers truly touched my heart’. Both groups were supported by grants from Catalyst and it illustrates how we are able to support a wide range of ages and needs. In 2023 we continued to consider applications that focussed on mental health, health inequalities, suicide prevention and end of life care. Catalyst likes to get involved with projects that have a strong health focus with a proven sustainable future and to work with groups to encourage and enable them to seek match funding from other organisations, thus unlocking further funding, During 2023, the Catalyst Board considered 47 General Applications (58 last year) from various organisations in our area of operation, of which 21 (45%) (37 - 64% last year) were successful. During this period £157,770 was spent on general grants, (£287,664 last year). I would now like to tell you about some of the grants that we have made this year to give you a flavour of the wide range of organisations and projects that we supported in 2023. - 2 - ## **COLCHESTER CATALYST CHARITY** ## **ADMINISTRATOR'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ We were pleased to make our largest grant of £22,803 this year to CARA. The group works closely with local agencies and charities, where little or no support is available, and takes referrals ranging from domestic and sexual abuse, disability, illness and poverty. Our grant was used to support the appointment of a full-time specialist Young Person’s Practitioner for a period of six months. The Practitioner works with a minimum of 50 children and young people over a one-year period providing specialist sexual abuse therapy from the new Rose Therapy Centre in Lakelands Community Centre. This Centre was set up to provide counselling, language and speech therapy to local children struggling to access the services that they need. Beacon House has adopted a holistic approach to the problem of homelessness and has an over-riding goal to transform lives rather than simply plug gaps. They provide a non-judgmental environment where people can have a meal, take a shower, access medical care, discuss their needs with an Occupational Therapist, Housing Officer and help people obtain benefits. They have about 10,000 guests each year. Our grant of £19,185 allowed them to continue with their existing OT programme for 2023/2024. This will make a very significant and positive difference to the lives of many homeless people. My Home Life Essex Community Association (FaNs) work to create thriving Care Home Communities in Tendring. With the help of our grant of £15,000 they were able to set up projects in approximately 20 Care Homes across the Tendring District with a view to creating a full programme of physical activity engagement. The aim is to engage up to 300 residents in physical activity created by Mr Motivator, at least once a week, by using online resources in addition to a physical outreach programme in collaboration with community partners. In 2023 we continued to support projects which address health inequalities. Edensor help to prevent people from being socially excluded and help to reintegrate those who already have been. Edensor run a 50-bed care home in Clacton. They have opened up their facilities to the wider community, in particular the young and isolated elderly. Edensor empowers their residents to be as independent as possible. We were delighted to award Edensor a grant of £15,000 to help fund the building of a log cabin to be situated in the Edensor Garden. The cabin will provide a safe and comfortable space for the residents to receive the appropriate care by skilled professionals as well as enabling them to remain close. One of our top strategic priorities for 2023 was to have a greater clarity about the health needs of any grant application and to direct our funds quickly and efficiently to provide specialist equipment for those most in need. With this in mind, we were very pleased to be able to support the MND Community in and around Colchester with a grant for £10,000. The nature of this cruel disease means that the prognosis from diagnosis is 27 months so time is of the essence. Our grant will be used to purchase mobility equipment, provide respite, make lifelong memories with family/friends and to offer Virtual Reality experiences. Acorn Village is a Charity that provides residential and supported living facilities and care and support for adults with learning disabilities. They offer daytime activities which encourage social interaction, learning new life skills, crafting, gardening, education, active leisure, and entertainment. These activities are also open to adults with learning disabilities in the wider community. Our grant of £9,781 will enable 55 adults with disabilities to access art therapy and counselling sessions thus improving self-confidence, coping skills, social connection, interaction and inclusion. - 3 - ## **COLCHESTER CATALYST CHARITY** ## **ADMINISTRATOR'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ Greenland Grove animal sanctuary was established over thirty years ago to provide a safe haven for animals. Over the years the group noticed the benefits the sanctuary was having on volunteers, especially those with mental health issues. The sanctuary has a positive impact on everyone involved. Another area we focussed on in 2023 was suicide prevention and particularly in relation to young men. Our grant of £9,500 to Greenland Grove will be used to provide a hub where men can meet up for company and fellowship. Men often struggle with mental health and the suicide rate is higher than average particularly in the younger age groups. Men would be able to meet at the hub to chat, create and repair things in a workshop or get involved with the animals in the sanctuary. Catalyst likes to fund equipment that goes above and beyond and complements what the statutory bodies are able to offer. Our grant of £8,398 to Parkeston Welfare Park did just this by creating a pool of equipment not provided by the NHS to keep people mobile. This group aim to improve people’s lives by motivating young and older people with health problems and loneliness by becoming more active and increasing their interest in life to improve both physical and mental health. Our grant of £6,000 to Autism Anglia went to equip the new sensory room at Jigsaw. Kids Inspire (KI) provides therapeutic trauma recovery support to children, adolescents and their families; training and consultancy to schools and local authorities; and is actively involved in community outreach projects across Essex. KI’s mission is to ensure children receive specialist support to become healthy adults, who can lead complete and fulfilling lives. Our grant of £5,520 went to fund an innovative project to help six children in Colchester who need intensive support. This will be achieved through a range of therapeutic and community activities that will promote resilience, self-awareness and relationship building to empower more positive life choices. In relation to health inequalities, The Bridgeway Misson help and support refugees and asylum seekers who are already in the UK. They provide holistic support, physical, material, social and spiritual. They also help with teaching the English language and sign posting. The group help refuges to bridge the gap between their country of origin and their new country. Our grant of £5,000 will enable the Bridgeway Mission to organise trips for the new immigrants and refugees in Colchester to help improve feelings of isolation and to introduce them to the new culture in the UK. We were pleased to make a grant of £5,000 to St George’s School for specialist accessible play equipment for pupils with physical neurological and sensory needs. The school does have pupils with complex needs and they believe it is important that they can take part in activities alongside their peers. We often work with groups who help families in the most deprived areas of the UK. One such group is the Mid Tendring Partnership. Our grant of £4,500 will enable them to set up a new psychological programme. This Charity provides early intervention and holistic support for children and families living in difficult conditions. Their support helps families struggling with multiple complex issues including poverty, family breakdown, isolation, mental health and behavioural challenges. Our grant will be used to provide a new early approach to working with children with Social and Emotional Difficulties, Special Educational Needs, Additional Needs and those who are struggling with their emotional wellbeing. - 4 - ## **COLCHESTER CATALYST CHARITY** ## **ADMINISTRATOR'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ Another group which falls into this category is the Reanella Trust. They are an organisation that aims to relieve sickness, promote and protect the good mental health of individuals particularly from hidden communities through psychological intervention, treatment, and education. Their purpose is to help young men and women to reach their full individual potential through digital mental health and employment support. Our grant of £4,000 will provide psychological help for children. Other grants this year went to Colchester Museums: £4,500 was given for specialist equipment: £4,000 was granted to Little Lifts to enable them to provide breast cancer patients with one of their Little Lifts Boxes which are filled with premium goodies, and hand packed with love to support people through their chemotherapy and radiotherapy treatment. We made a grant of £3,952 to the Hut Mersea Island for a permanent decking path down the side of the huts to enable wheelchair users access to the hut and also provide a turning circle and sitting area at the front of the hut for wheelchair users. Many of our grants involve providing equipment or technological support. A grant of £3,414 enabled Balkerne Gardens to purchase health-based equipment and our grant to Livability Treetops was used to fund vital sign monitors. £1,975 also went to the University of Essex to fund assistive technology for the disabled. The Colchester Korban Project help young homeless people aged 16-25 realise their potential and thrive, by providing accommodation, resources, holistic support and guidance enabling them to develop the character, skills and confidence to live independently. Our grant of £2,450 will enable them to provide some bespoke training for workers on some key topics. The training will cover topics such as mental health, including spirituality and focusing on anxiety and depression. During 2023 we have supported a diverse range of projects addressing many different needs both physical and mental from equipment to training and across the age spectrum. All our grants are monitored regularly, and we ask for feedback, reports and photos where appropriate. We continue to support counselling services, and this accounted for £8,642 of expenditure during 2023. Special Individual Needs (SIN) grants continue to be an important part of our work. There were 196 (190 last year) applications of which 161 (160 last year) were successful. This year we spent £83357 on SIN (£94,478 last year) Once again the vast majority of grants provided mobility equipment for those who could not obtain it from the statutory providers. We continue to work in partnership with the Neuro Rehabilitation Unit at Colchester General Hospital to bulk purchase 3 and 4 wheeled walkers which they distribute as necessary. Sean MacDonnell took over the chairmanship of the SIN committee in October 2023 and the group, which meets every 4 to 6 weeks via Teams, is made up of health professionals. We regularly receive letters and cards of thanks from individuals and their carers who are so grateful for the help provided. - 5 - ## **COLCHESTER CATALYST CHARITY** ## **ADMINISTRATOR'S REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The Catalyst respite scheme continues to represent a significant part our budget and in the year 2023 £125,267 (last year £158,360) was spent on arranging short term respite care. This scheme allows full-time carers to have a break from their caring duties. We work in partnership with about a dozen care organisations, listed on the inside front cover of this report. Our partners are trained as assessors, and each organisation has an agreed annual budget. We monitor the activity and keep in touch throughout the year. In communicating Catalyst’s activities, our website www.colchestercatalyst.co.uk provides a wealth of information about our services and grants in addition to having links to partner sites providing advice, support and services to help improve healthcare within the CO postcode area. Application forms for General and Special Individual Needs grants are available to download from the site, as well as copies of past Annual Reports together with a regularly updated news section. Our website is in the process of undergoing a facelift so please watch this space. We can also now be found on Facebook which is also updated on a regular basis. Finally I would like to take this opportunity to thank all my colleagues, Catalyst’s Chairman Christine Hayward, Peter Fitt, Company Secretary, Mark Pertwee, Vice Chairman, the Board, Development Manager Rodney Appleyard, assistant Wendy Larkin and our partner charities and organisations for all their help, support and encouragement during the past year. We all feel very happy and privileged to be working for the Catalyst Charity, by bringing help to those people who fall outside the statutory remit. **Stephanie Grant Administrator 26 February 2024** - 6 - ## **COLCHESTER CATALYST CHARITY** ## **MAIN GRANTS AND DONATIONS OVER £3,500** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**Organisation**|**Project**|**£**| |---|---|---| |CARA|Specialist Therapy|22,803| |Beacon House|OT Programme|19,185| |FaNs|Mental Health Project|15,000| |Edensor|Log Cabin|15,000| |Challenging MMD|Specialist Equipment|10,000| |Acorn Villages|Wellbeing Project|9,781| |Greenland Grove|Fellowship Hub|9,500| |Parkeston Welfare Park|Equipment|8,398| |BEARS|Ventilator|8,000| |Autism Anglia|Improve Sensory Room at Jigsaw|6,000| |Kids Inspire|Neurodiversity Project|5,520| |Bridgeway Mission|Refugees New Life|5,000| |St. George’s School|Equipment|5,000| |Mid Tendring Partnership|Psychological Programme|4,500| |Colchester Museums|Specialist Equipment|4,500| |Reanella Trust|Psychological Support for Children|4,000| |Little Lifts|Little Lifts Boxes|4,000| |The Hut Mersea Island|Hut Decking|3,952| - 7 - ## **COLCHESTER CATALYST CHARITY** ## **DEVELOPMENT MANAGER'S REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ At Colchester Catalyst Charity, we kick-start each year by reaching out and learning about the new and emerging health needs in the area, so we can shape our strategy around how best to make an impact, with our partners, to support people suffering from these major issues. This year, as part of our strategy, we continued our focus on mental health projects due to the growing problems in this area over the last few years. We are pleased to have received reports that our collective efforts with other funders has helped to ease problems for some people, although we appreciate much more work needs to be done in this area. Some of this focus has centred around helping men who are risk of suicide in North East Essex, which is significantly high in our region. We also funded a number of projects that have helped young people who have been suffering from mental health problems, also identified as a big issue. Additionally, many of the projects we have funded have received further support from the National Lottery Community Fund, as well as the Integrated Care Board (run by the NHS), which has enabled these initiatives to gain long-term support so they can continue beyond the life time of our grant. By working together in this joined up way with other commissioners and funders, we have been able to alleviate the pain of many people who are in need of targeted support. For example, the child counselling project run by CARA (The Centre For Action On Rape And Abuse), which we funded for £22,803, has been working hard to help young people who have suffered from abuse and trauma. It has built on another project supported by the ICB, through funding managed by Community360 and CVST. In total, C360 and CVST were tasked with allocating £500,000 of funding on behalf of the ICB, to support projects aimed at improving people’s mental health. This programme was called the “Feel Well Fund”. We have also been speaking with the ICB about how we could possibly help CARA to source more long-term funding in the future, to keep this counselling programme going for the children who need it. We can only achieve ambitions like this through regular conversations with our partners about big visions to address these local health needs, whilst also working closely with appropriate not for profit organisations which know these issues inside out. By putting this effort in early, we often find we are able to catalyse big change in the community. Other projects we have funded last year and over the last few years, which the ICB has also supported, include mental health projects run by: - Abberton Rural Training - - Kids Inspire - - Reach out For Mental Health - African Families in the UK - Age Concern - - Carers 1st - YES - Outhouse East - Refugee Action Colchester - - Together We Grow - - Headway Essex - - Tendring Specialist Stroke Services - - The 12th Man - The Dance Network. - 8 - ## **COLCHESTER CATALYST CHARITY** ## **DEVELOPMENT MANAGER'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ Between us, this means many people from a wide variety of different backgrounds, who are suffering from mental health issues, have received concentrated efforts to alleviate these problems. A large number of the other projects we have grant-aided have also received further help from the Lottery, including initiatives run by: - Bridge Mission (helping refugees) - The Outhouse - RAMA (Refugee, Asylum Seeker & Migrant Action) - Teen Talk - iCarp - Tendring Specialist Stroke Servies - The Tendring Wellbeing and Intervention Services Additionally, some other projects we have supported have received further funding from Active Essex (managing Sport England funding), such as the FaNS (Friends and Neighbours) project. Others have received additional commissioning support from Essex County Council, such as the Mid Tendring Education Partnership project. All of these projects cover a wide range of mental health issues for many different groups of people, including: - Under 30 year olds - Older people - Professionals going through mental health crisis - Refugees - PTSD sufferers - People with learning disabilities - People recovering from strokes - People with head injuries - People who are LGBQT+ Substantial funds have been unlocked as a result of our partnership with other funders and commissioners. For example, the Lottery supported iCarp with a £300,000 grant to help more PTSD sufferers; the ICB helped Reach Out For Mental Health with a grant of £50,000 and Active Essex helped FaNs with a grant of £56,000. We have also successfully supported a number of other projects relevant to our strategy focused on: - End of Life Care - such as the new Edensor Care Centre outdoor cabin - Health inequalities - such as the Reanella Trust’s mental health project we supported in Greenstead - Alcohol and drug misuse - such as the Korban project, which helps young homeless people between 16-25 - with mental health problems Furthermore, we have helped many projects with acquiring vital pieces of equipment, such as a new robot arm for a specialist project that will help stroke sufferers to improve their physical abilities in the future. For 2024, we have revisited our strategy again and will continue to work with our partners to address the biggest health needs in the North East Essex, so we can keep catalysing dynamic projects which can significantly improve people’s mental and physical health. - 9 - ## **COLCHESTER CATALYST CHARITY** ## **DEVELOPMENT MANAGER'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **CARA - £22,803 to support children suffering from physical abuse** We awarded CARA (Centre for Action on Rape and Abuse) this counselling grant to help children who are suffering from mental health problems due to abuse and trauma, which has been identified as a growing problem in the area. It has enabled CARA to provide help specifically for 50 young people in Colchester, who would not have received counselling support without the grant. Helen Parr, the CEO of CARA, said her team was delighted when this grant was awarded. “Colchester Catalyst has an extremely good reputation, particularly for supporting charities in accessing longer-term funding. Having this additional resource was a great boost to team morale. “We are currently involved in a scoping exercise with the Child and Family Service Team at Essex County Council, looking at the demand for greater therapeutic support services to help children who have been abused. We have been given a strong indication that this work will lead to a new commissioned service. Colchester Catalyst has contributed to this process by offering to tell the Essex County Council team about the strong outcomes our work delivers. “More generally, the Colchester Catalyst grant acts as a valuable endorsement of CARA’s work and the key role we play in supporting the healthcare needs of children and young people. We regularly include the grant as evidence of our credibility as an organisation in funding applications.” She added that if CARA is able to secure longer term funding for this post, the grant will have played an important role in helping the organisation to build a strong and skilled Young Person’s Practice that is better able to keep pace with the huge demand for its service. “Overall, the support from Colchester Catalyst has been excellent and very responsive to our needs as an organisation,” added Mrs. Parr. “Catalyst plays an important role in recognising the vital work that voluntary sector organisations, like CARA, deliver when addressing important healthcare needs. Their active approach in supporting charities in accessing longer-term funding is unusual, extremely valuable and is very much appreciated.” ## **Mid Tendring Education Partnership - £4,500 to support children’s mental health in schools** Liz Pickford, the CEO of Mid Tendring Education Partnership, said she was delighted when she heard the organisation’s funding bid to Catalyst had been successful. “As a small local charity, the importance of receiving funding to support our work cannot ever be underestimated. The 'Believe to Achieve' Project supports Catalyst’s aim of making a positive and ongoing contribution to the improvement of healthcare within the community, through providing a new early approach to working with children with emotional difficulties and special educational needs. “These young people struggle with their mental well-being through experiencing social isolation. They are also often unable to access education. Therefore, they face real barriers to achieving their potential. “This project will enable highly skilled qualified psychotherapists to provide individual therapeutic 1:1 support to 15 identified children for up to 12 weeks of intensive support, that will be completed within 12 months. It will also enable them to enact lasting change by working directly with the targeted children in a non-judgmental way.” Additionally, Mrs. Pickford said this project will empower the young people to find their own solutions to problems that will improve their long-term life chances. - 10 - ## **COLCHESTER CATALYST CHARITY** ## **DEVELOPMENT MANAGER'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ “It’s so vital for our children and young people as it differs from traditional counselling support, seeking to address the gaps for those who have more complex needs, as well as those with enduring mental health difficulties and disorders. These people have often tried other therapies with little or no improvement. “ “Without the generous funding from Catalyst these children would not receive any support and their needs would go unmet. So in short, the funding makes all the difference for our vulnerable children and young people, as well as their life chances!! “Can I take this opportunity to thank the team at Catalyst for making this process so easy and for your ongoing commitment to supporting local charities to help vulnerable children, as well as their families.” ## **Acorn Villages - £9,781 to provide Counselling support for people with learning disabilities** The team at Acorn Villages said they are hugely grateful for this grant to help adults suffering with learning disabilities at their base in Manningtree. Kirsty Buxton, the Communications and Income Generation Manager for Acorn Villages, added: “They would not have access to this free counselling and art therapy provision without the grant. We believe everyone has the right to reach their full potential and this project, which addresses people’s overall well-being, is a fundamental part of this.” She hopes Acorn Villages will now also be able to access additional funds to benefit its service users even more, as well as enabling this provision to include external people with learning disabilities that utilise its activity day services. “The Colchester Catalyst grant sets a fantastic example to other funders, to demonstrate that we are worth the investment to help improve the well-being of adults with learning disabilities.” Emily Duzgun, a counsellor and art therapist at Acorn Villages, who has been working on the project said: “Through this therapy provision, service users have the opportunity to express, explore and process their thoughts and feelings, enabling continual growth and development. “They can also be supported with a range of issues including; loss and bereavement; relationship difficulties; anxiety and depression; phobias; challenging behaviour and self-esteem, to name but a few. “The development of emotional literacy and intelligence is already notable, as we begin to see increased levels of awareness of themselves and others. “ She added that service users will also learn how to understand their triggers and how to monitor their well-being through noticing warning signs when their mental health starts deteriorating. These are skills they can then utilise beyond the therapy process. “Plus, we would expect to see outcomes of improved levels of resilience and independence; reduced levels of problematic behaviours and the reduced need for anti-depressants or anti-anxiety medication.” Michelle Cook, CEO, added: “Colchester Catalyst is absolutely vital in funding projects like ours. Many charities and organisations are facing unprecedented financial pressure where even trying to provide our usual caring and supportive service is hard enough without looking to source funding for new projects. It means the well-being of adults with learning disabilities can be helped and coping strategies put in place for the future, leaving a lasting legacy.” - 11 - ## **COLCHESTER CATALYST CHARITY** ## **DEVELOPMENT MANAGER'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **Edensor Care Centre - £15,000 for a new End-Of-Life Care outdoor cabin** The staff at Edensor said the grant has helped them to create a space where its residents and their families can enjoy time together and therapies outside. They hope in the future people from the local community will also be able to take advantage of the space too. Sab Mach, the Edensor Care Home Manager, said: “In no uncertain terms, we were absolutely elated to receive this grant! Post pandemic fundraising has been difficult for everyone and to receive the Colchester Catalyst award really gave our project a very welcome launchpad. “Our entire team was over the moon, as we know it will be life changing for our residents. The funding not only allowed us to plan and build the cabin itself, but we are now fundraising for the items we need for the interior. “Edensor residents have been very interested in the project from day one. It has been a great talking point for everyone within the home, from the excitement of the build stage, to describing what the cabin will be used for. They look forward to using the cabin to enjoy some quiet time.” Mach added that the cabin (which they have named The Quiet Oasis) will create an ‘outside sensory experience’ for residents who are simply not able to get out. “Many of them are currently confined to their rooms due to ill health, and this separate fully equipped building will allow them important respite. Our staff have told us that some residents ‘miss the sky’ – and this cabin will now allow them to experience the sky from a safe space. A mini trip outside, day or night, will help change their surroundings, so they can experience new sensory experiences in a different environment.” The cabin will have a multitude of uses; from people receiving end of life care; to providing outdoor activities for people to take part in; to opening it up to the wider community. They said they intend to share the use of the cabin with other residential facilities in the surrounding area. “The support from Catalyst has been invaluable. They offered their full assistance when we made the application. Representatives visited the site, and helped us with the application process, as well as the level of information that was required to submit the application for funding.” https://www.charitytoday.co.uk/15000-donation-funds-end-of-life-project-in-clacton/ ## **FaNs – £15,000 – physical and mental support for people in care homes** We awarded this funding to FaNs (Friends and Neighbours), to set-up a number of activities in care homes across Tendring in Colchester, aimed at improving the mobility and mental health of older people. Christina Shields, the FaNs Project Coordinator, said that being able to offer more movement sessions and training across the care homes has given the staff greater confidence in delivering sessions to their residents. She added that in their subsequent bids, it has also helped them to show they are trusted and well thought of by Colchester Catalyst, which has reassured other funders. For example, Active Essex has funded some of its activities now until April 2025. - 12 - ## **COLCHESTER CATALYST CHARITY** ## **DEVELOPMENT MANAGER'S REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ “The boost that the funding has given FaNs so far will only grow. We have been able to spend time sourcing contacts and building relationships, which will continue. Being supported by Catalyst has been a gift to us not just financially but also in cementing that our missions are worthwhile and well thought of. Without Catalyst’s input, our scope would be much smaller and less effective. “ So far, through the funding, FaNs has been able to provide a number of interesting sessions already, as Christina explained: “One of our events involved supporting 79 residents from 13 care homes with fitness sessions, to help improve their mobility. We also set-up walk and talk sessions for people in Colchester and Tendring, which was possible after a care home lent us a mini-bus. “Plus, our move it or lose training has helped to provide mental and physical stimulation for many residents. It has helped to improve their overall mood and general well-being. Additionally, having the ability to offer more varied support than normal to people in care homes, and connect many of them to each other, has boosted the overall wellbeing of the residents.” **Rodney Appleyard Development Manager 26 February 2024** - 13 - ## **COLCHESTER CATALYST CHARITY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The trustees present their report and accounts for the year ended 31 December 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 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 2016)”. ## **Objectives and activities** The objective of the charity is the relief of the sick and suffering of North East Essex. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when planning its future activities and setting the grant making policy for the year. Details of the charities activities and achievements during the year are set out in the chairman's Report, administrator's report and the development manager's report. ## **Grant making policy** The Charity's detailed grant making criteria are set out on the Charity's website, www.colchestercatalyst.co.uk. All applications for grants are considered by the Trustees and where successful are formally approved. An annual grants budget is set by the Trustees. ## **Financial review** The results are shown in the financial statements of which the following is a summary:- ||**31/12/2023**|**31/12/2022**| |---|---|---| ||**£**|**£**| |Direct Charitable Expenditure|452,130|626,563| |Surplus / (Deficit) before Gains or Losses on Investments|(57,861)|(253,010)| |Realised Gains /(Losses) on Sales of Investments|23,458|(12,763)| |Unrealised Gains / (Losses) on valuation of Investments|389,854|(912,133)| |Total Net Assets at 31st December|12,120,404|11,764,953| Future financial performance will be affected by the investment income and growth achieved in future years. ## **Reserves policy** The current reserves policy is to endeavour to maintain a Capital Reserve of at least £12,000,000 until December 2024. At 31st December 2023 the Capital Reserve stood at £12,120,404. ## **Investment policy** The investment policy is determined by the Trustees, with the benefit of external advice, after considering income requirements, risk profile and stock market prospects in the short and medium term. ## **Risk statement** The Trustees confirm that the major risks to which the charity is exposed, as identified by the Trustees, have been reviewed and systems established to mitigate these risks. - 14 - ## **COLCHESTER CATALYST CHARITY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **Plans for future periods** The Trustees plan for the foreseeable future to continue making grants with a view to making a positive contribution to improving care of the sick or suffering in the CO postcode area. ## **Structure, governance and management** The charity is a company limited by guarantee (number 00634588), governed by a Memorandum and Articles of Association and is a Registered Charity (number 228352). At 31st December 2023 there were forty two members. Colchester Catalyst Charity became a grant making charity in 1990 following the sale of the Colchester Oaks Hospital, in Oaks Drive, to Community Hospitals PLC. The sale was conditional on Community Hospitals PLC building a new hospital, to an agreed high specification, by 1994 - this was done and the new Oaks Hospital off Mile End Road was opened in January 1994. With the agreement of the Charity Commissioners the directors decided to devote the income, from the invested funds resulting from the sale 'for the relief of the sick or suffering of North Essex'. The Charity is administered by a Board of Trustees. ## **Trustees** The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: C Hayward MBA NPQH P W E Fitt FCA Dr N J Busfield MA, PhD Dr M P Hickman MB B.Chir DCH M F Pertwee BA (Hons) K Songhurst LLB(Hons) E Thrower DipCOT, MHCPC I S Turner MA MBA Dr S MacDonnell MBBS FRCA FFICM Nominations for the appointment of new Trustees are made based upon the established knowledge and experience of the candidate and on the likely contribution that the candidate may make to the work of the charity. All Trustee appointments are subject to election at an AGM and all Trustees are subject to re-election at an AGM every three years. Trustees are provided with appropriate information and guidance on induction; no other formal training is provided to trustees. ## **Administrator and assistant:** S Grant & W Larkin ## **Development Manager:** R Appleyard - 15 - ## **COLCHESTER CATALYST CHARITY** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **Disclosure of information to auditor** Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The Trustees report was approved by the Board of Trustees. ## **P W E Fitt FCA** 26 February 2024 - 16 - ## **COLCHESTER CATALYST CHARITY** ## **STATEMENT OF TRUSTEES RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The trustees, who are also the directors of Colchester Catalyst Charity for the purpose of company law, 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). Company Law 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, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate 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 Companies Act 2006. 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. - 17 - ## **COLCHESTER CATALYST CHARITY** ## **INDEPENDENT AUDITOR'S REPORT** ## **TO THE MEMBERS OF COLCHESTER CATALYST CHARITY** ## **Opinion** We have audited the financial statements of Colchester Catalyst Charity (the ‘charity’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). ## In our opinion, the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. - 18 - ## **COLCHESTER CATALYST CHARITY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COLCHESTER CATALYST CHARITY** ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and - the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report. ## **Responsibilities of trustees** As explained more fully in the statement of Trustees responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. - 19 - ## **COLCHESTER CATALYST CHARITY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COLCHESTER CATALYST CHARITY** We made enquiries of the trustees, including: • How they have identified, evaluated and complied with laws and regulations and whether they were aware of any instances of non-compliance; • Their process for detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and • Which internal controls have been established to mitigate risks related to fraud or non-compliance with laws and regulations. We obtained an understanding of the legal and regulatory frameworks that are applicable to the Charity. These include, but are not limited to, compliance with the Companies Act 2006, UK GAAP, Charities SORP and tax legislation. In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: employment law and data protection. The Senior Statutory Auditor has assessed and concluded that the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. During our audit: • We reviewed the financial statement disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above; • We made enquiries of the trustees; • We read minutes of meetings of those charged with governance. We considered opportunities for fraudulent manipulation of the financial statements (including revenue recognition and the risk of override of controls), and determined that the principal risks were related to management override of the Charity's grant awarding process. Due to the Charity's extensive controls in place and regular oversight from the Board, the risk of fraud in this area is low. The specific procedures we performed to address this area was as follows: • We reviewed the integrity of the controls in place and discussed with management where any amendments had been made to ensure processes are up to date; • Performed walkthrough tests on a sample of grants awarded covering General, SIN, Respite and Counselling grants; • Ensured that all grants sampled had been approved by the board by reviewing meeting minutes of the Trustees and the SIN board committee; • Through review of the meeting minutes we concluded that adequate controls are in place for the identification of potential conflicts of interests such that grants are not awarded to those with a financial interest in the Charity. - 20 - ## **COLCHESTER CATALYST CHARITY** ## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF COLCHESTER CATALYST CHARITY** Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. **Rachel Skells BA FCA (Senior Statutory Auditor) for and on behalf of Streets Audit LLP** 26 February 2024 **Chartered Accountants Statutory Auditor** Tower House Lucy Tower Street Lincoln LN1 1XW - 21 - ## **COLCHESTER CATALYST CHARITY** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |||**Unrestricted **|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and subscriptions etc.|**2**|300|344| |Income from investments|**3**|393,969|373,209| |**Total income**||394,269|373,553| |**Expenditure on:**|||| |Charitable activities|**4**|452,130|626,563| |Net gains/(losses) on investments|**7**|413,312|(924,896)| |**Net movement in funds**||355,451|(1,177,906)| |Fund balances at 1 January 2023||11,764,953|12,942,859| |**Fund balances at 31 December 2023**||12,120,404|11,764,953| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 22 - ## **COLCHESTER CATALYST CHARITY** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**11**
Investments
**12**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds - general|**2023**
**£**
911
334,960
335,871
(43,769)|**£**
166,697
11,661,605
11,828,302
292,102
12,120,404
12,120,404
12,120,404|**2022**
**£**
293
328,127
328,420
(74,430)|**£**
166,697
11,344,266| |---|---|---|---|---| |||||11,510,963
253,990| |||||11,764,953| |||||11,764,953| |||||11,764,953| The financial statements were approved by the Trustees on 26 February 2024 |C Hayward MBA NPQH|P W E Fitt FCA| |---|---| |**Trustee**|**Trustee**| |**Company registration number 00634588**|| - 23 - ## **COLCHESTER CATALYST CHARITY** ## **STATEMENT OF CASH FLOWS** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**2023**
**Notes**
**£**
**£**
**Cash flows from operating activities**
Cash absorbed by operations
**21**
(483,109)
**Investing activities**
Purchase of investments
(898,232)
Proceeds on disposal of investments
994,205
Investment income received
393,969
**Net cash generated from investing**
**activities**
489,942
**Net cash used in financing activities**
-
**Net increase in cash and cash equivalents**
6,833
Cash and cash equivalents at beginning of year
328,127
**Cash and cash equivalents at end of year**
334,960|**2022**
**£**
**£**
(645,573)
(15,972)
400,000
373,209
757,237
-
111,664
216,463
328,127| |---|---| - 24 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** Colchester Catalyst Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is 14 Dedham Vale Business Centre, Manningtree Road, Dedham, Essex, CO7 6BL. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Memorandum of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. 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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. ## **1.3 Incoming resources** 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. Other income including income tax recoverable is accounted for on an accruals basis as far as it is prudent to do so. ## **1.4 Resources expended** Grants and donations payable are recognised as expenditure when the grant is approved. ## **1.5 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: Freehold land and buildings 0% depreciation 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. - 25 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** **(Continued)** ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at quoted sale value at the close of business on the balance sheet date. Changes in market value are recognised in net income/(expenditure) for the year and carried to the capital fund. Transaction costs are expensed as incurred. Quoted investments are included at quoted saleable value as at the close of business on the balance sheet date, any surplus or deficit arising on such valuation is carried to capital fund. ## **1.7 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). ## **1.8 Basic financial assets** Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets comprise cash at bank and in hand, together with other debtors. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions. ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. ## **1.10 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **1.11 Grants and donations payable** Grants and donations payable are recognised as expenditure when the grant is approved. ## **1.12 Gifts in kind** The Charity receives the benefit of work carried out by volunteers. No value is placed on this in the financial statements. - 26 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**2**
**Donations and subscriptions etc.**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**general**
**2023**
**2022**
**£**
**£**
Donations and gifts
300
344
**3**
**Income from investments**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**general**
**2023**
**2022**
**£**
**£**
Income from quoted investments
393,969
373,209
**4**
**Charitable activities**
**2023**
**2022**
**£**
**£**
Staff costs
58,369
54,598
Office expenses
8,766
8,337
67,135
62,935
Grant funding of activities (see note 9)
375,036
554,502
Share of governance costs (see note 10)
9,959
9,126
452,130
626,563|**2**
**Donations and subscriptions etc.**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**general**
**2023**
**2022**
**£**
**£**
Donations and gifts
300
344
**3**
**Income from investments**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**general**
**2023**
**2022**
**£**
**£**
Income from quoted investments
393,969
373,209
**4**
**Charitable activities**
**2023**
**2022**
**£**
**£**
Staff costs
58,369
54,598
Office expenses
8,766
8,337
67,135
62,935
Grant funding of activities (see note 9)
375,036
554,502
Share of governance costs (see note 10)
9,959
9,126
452,130
626,563|**2**
**Donations and subscriptions etc.**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**general**
**2023**
**2022**
**£**
**£**
Donations and gifts
300
344
**3**
**Income from investments**
**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**general**
**2023**
**2022**
**£**
**£**
Income from quoted investments
393,969
373,209
**4**
**Charitable activities**
**2023**
**2022**
**£**
**£**
Staff costs
58,369
54,598
Office expenses
8,766
8,337
67,135
62,935
Grant funding of activities (see note 9)
375,036
554,502
Share of governance costs (see note 10)
9,959
9,126
452,130
626,563| |---|---|---| |||| |||| ||**2023**
**£**
58,369
8,766
67,135
375,036
9,959
452,130|**2022**
**£**
54,598
8,337| |||62,935
554,502
9,126| |||626,563| ## **5 Trustees** None of the trustees (or any persons connected with them) received any remuneration, benefits or payments for expenses from the charity during the year. - 27 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **6 Employees** The average monthly number of employees during the year was: ||**2023**|**2022**| |---|---|---| ||**Number**|**Number**| ||3|3| |**Employment costs**|**2023**|**2022**| ||**£**|**£**| |Wages and salaries|56,669|53,008| |Other pension costs|1,700|1,590| ||58,369|54,598| There were no employees whose annual remuneration was more than £60,000. ## **7 Net gains/(losses) on investments** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**general**|**general**| ||**2023**|**2022**| ||**£**|**£**| |Revaluation of investments|389,854|(912,133)| |Gain/(loss) on sale of investments|23,458|(12,763)| ||413,312|(924,896)| ## **8 Taxation** The company is a charity and is not liable to corporation tax on income. It is entitled to receive certain types of investment income without deduction of Income Tax at source. Expenditure includes where appropriate irrecoverable Value Added Tax. - 28 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **9 Grants payable** |Grants to institutions:
Charities etc
Special Individual Needs
Respite Care
Counselling|**2023**
**£**
157,770
83,357
125,267
8,642
375,036|2022
£
287,664
94,478
158,360
14,000| |---|---|---| |||554,502| A detailed analysis of Grants and Donations over £3,500 made in the year can be found on page 7. ## **10 Support costs** |**Support costs Governance**
**costs**
**£**
**£**
Audit fees
-
5,362
Accountancy
-
1,050
Sundries
-
3,547
-
9,959
Analysed between
Charitable activities
-
9,959|**2023**
Support
costs
Governance
costs
**£**
£
£
5,362
-
4,712
1,050
-
816
3,547
-
3,598
9,959
-
9,126
9,959
-
9,126|2022
£
4,712
816
3,598| |---|---|---| |||9,126| |||9,126| Governance costs includes payments to the auditors of £5,362 (2022: £4,712) for audit fees. An amount of £1,050 (2022: £816) was payable to an associate of the auditor, Streets Whittle & Partners LLP, for non-audit work. - 29 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**11**
**Tangible fixed assets**
**Cost**
At 1 January 2023
At 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
**12**
**Fixed asset investments**
**Cost or valuation**
At 1 January 2023
Additions
Valuation changes
Realised gains/(losses)
Disposals
At 31 December 2023
**Carrying amount**
At 31 December 2023
At 31 December 2022
Investments at fair value comprise:
Charifund:
Blackrock Charities UK Equity Fund (formerly Charishare):
Schroders Charity Multi Asset Fund:
Newton Growth Fund for Charities:
Newton Growth & Income Fund for Charities:|**Freehold land and buildings**
**£**
166,697
166,697
166,697
166,697
**Listed**
**investments**
**£**
11,344,266
898,232
389,854
23,458
(994,205)
11,661,605
11,661,605
11,344,266
**2023**
**2022**
**£**
**£**
1,790,845
1,936,628
1,462,045
1,385,729
2,039,373
2,008,286
-
864,030
6,369,342
5,149,593
11,661,605
11,344,266| |---|---| - 30 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |**13**
**Financial instruments**
**Carrying amount of financial assets**
Instruments measured at fair value through profit or loss
**14**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**15**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2023**
**£**
11,661,605
**2023**
**£**
911
**2023**
**£**
38,341
5,428
43,769|**2022**
**£**
11,344,266| |---|---|---| |||**2022**
**£**
293| |||**2022**
**£**
69,415
5,015| |||74,430| ## **16 Outstanding grants payable** The analysis of grant funding and the balance outstanding included in other creditors for the period is as follows: |**Note**
Grants approved not yet paid - brought forward
Grants approved in period
**9**
Grants paid in period
Grants approved not yet paid - carried forward|**2023**
69,009
375,036
(405,973)
38,072|**2022**
88,573
554,502
(574,066)| |---|---|---| |||69,009| ## **17 Retirement benefit schemes** ## **Defined contribution schemes** The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charge to profit or loss in respect of defined contribution schemes was £1,700 (2022: £1,590). ## **18 Non-audit services provided by auditor** Streets Whittle & Partners LLP, an associate of the auditor, have processed the charity's payroll from information provided to them (note 10). - 31 - ## **COLCHESTER CATALYST CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **19 Analysis of changes in net funds** The charity had no debt during the year. ## **20 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). |**21**
**Cash generated from operations**
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of investments
Fair value gains and losses on investments
Movements in working capital:
(Increase) in debtors
(Decrease) in creditors
**Cash absorbed by operations**|**2023**
**2022**
**£**
**£**
355,451
(1,177,906)
(393,969)
(373,209)
(23,458)
12,763
(389,854)
912,133
(618)
(96)
(30,661)
(19,258)
(483,109)
(645,573)| |---|---| - 32 -