COMPANY REGISTRATION NUMBER: 01477997 CHARITY REGISTRATION NUMBER: 279523
Cued Speech UK Limited Charitable Company Limited by Guarantee Unaudited Financial Statements 31 March 2021
THOMAS WESTCOTT
Chartered Accountants Petitor House Nicholson Road Torquay Devon TQ2 7TD
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Financial Statements
Year ended 31 March 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 8 |
| Statement of financial activities (including income and | |
| expenditure account) | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 11 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 22 |
| Notes to the detailed statement of financial activities | 24 |
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.
Reference and administrative details
Registered charity name
Charity registration number
Cued Speech UK Limited
279523
Company registration number 01477997 Principal office and registered The Boatshed office Steamer Quay Road Totnes Devon TQ9 5AL
The trustees
Mrs W Burton Ms C Cottam Mrs T Kirwin - McGinley Mr K Orpin Miss C Hardy Mr P G Bowman Ms S C Elumba-Hill Mr G Allerton-Ross Mr M J Evans
Company secretary Ms T Kirwin - McGinley and Mrs H W Burton Independent examiner Sean R Smith FCA on behalf of THOMAS WESTCOTT Chartered Accountants Petitor House Nicholson Road Torquay Devon TQ2 7TD
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
Structure, governance and management
Organisational Structure
The activities are governed by the Memorandum and Articles of Association. Charity members elect the Trustees who meet quarterly to oversee the work of the paid staff. At the end of the year there were 9 part-time employees, totalling 6 full time equivalents.
The Team consists of: -
Henrietta Ireland – Executive Director
Louise Creed – Business Manager
Debbie Hawkes – Senior Administrator
Cate Calder – Training Lead
Mark Murton – Training co-ordinator
Kathy Kenny – Lead Regional Family Advisor (South West region)
Sagira Jetha – Regional Family Advisor Hertfordshire
Kirsti – Regional Family Advisor South Wales
Carly Simpson – Regional Family Advisor North West
Investment Powers
Under the Memorandum and Articles of Association, the Charity has the power to make any investment which the Directors see fit.
Risk Management
The Trustees have assessed the major risks to which the Charity is exposed and in particular those that are affected by fluctuations in the financial position of the Charity, and we are satisfied that systems are in place to mitigate the Charity’s exposure to major risk.
Cued Speech Definition
Cued Speech is a visual/manual code for spoken languages that enables accurate lip reading. As a speaker says each word, they make handshapes near the face that replace the missing acoustic information for the deaf receiver.
Objectives and activities
CSUK Aim
Our aim is to ensure that all deaf children and adults are given full access to English or their home language through Cued Speech regardless of hearing loss; with this they can develop their language and literacy skills to reach their full potential socially, emotionally and economically.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
Objectives and activities (continued)
Cued Speech Mission Statement
“Deafness is a difference in sensory experience from a hearing person. Language deprivation is a neurological emergency.” (Language first)
We recognise that a deaf child has the same potential as any hearing individual to understand and use language. If the language of their home is oral, their issue is simply one of speech perception: they cannot hear what is being said. It is possible to replace the acoustic information they are missing with visual information through Cued Speech.
Cued Speech is entirely functional for speech perception (see Metzger and Fleetwood 2010 and Shull and Crain 2010).
CSUK’s mission is to
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Inform, train and support families free of charge to Cue their spoken languages.
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Inform, train and support professionals using Cued Speech and signpost others to it.
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To gain recognition through social media, publicity, and advocacy with the people,
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services and commissioning bodies with whom Cued Speech is most relevant and where outcomes can be most effective.
Through these actions we want to ensure deaf children and adults avoid the negative and life-long cognitive impairment, social isolation and academic failure caused by language deprivation.
Statement of Rights
A deaf child or adult has a fundamental right to
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language and communication;
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receive a full education;
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succeed to their maximum potential regardless of disability;
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be safe.
These rights fit with the United Nations Convention on the Rights of the Child and are fundamental to the mission and aims of CSUK.
Statement of Aims
Over the next 3 years, CSUK aims to make a significant breakthrough into the number of referrals that are received from parents of 0 – 3-year-old deaf babies. We set ourselves a target of increasing referrals three years ago by 400% and while referrals are up by 100% - representing an increase from approximately 40 to 80 babies - we need to do more to reach our 400% goal.
Over the next 3 years we aim to change the way that deaf learners are able to access literacy and language in education and social settings through the use of digital technology including the Avatar Cassie I-Cue, the literacy resource U-Cue and the easy readers online filmed books, Love Reading.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
Financial Review in Brief
At the beginning of the year, January 2020, we had some clear plans for delivering our work and for raising additional unrestricted funds through fundraising activities. The competition for funding from Charitable Trusts and Foundations continues to increase and therefore CSUK was aiming to raise unrestricted income from community events. These included a Concert in partnership with Military Wives Choir, and a cross country running event, and we had clear goals included on our time-line for finishing funding applications. However, with the rising public concerns and government restrictions in relation to Covid-19, our plans for delivering activities and for fundraising through both applications and community events, had to change radically.
As a result of Covid-19, Charitable Trusts changed their funding criteria and grants programmes to meet the needs that arose from the restrictions of ‘Lockdown’ - focusing for example on childhood deprivation, poor (child) mental health, and the impact of domestic violence on children. CSUK did not match the criteria for applications to these funding streams, which reduced our income opportunities considerably. Additionally, many Charitable Trusts saw their investments fall and therefore withdrew funding offers. The result to CSUK was that we were unable to apply for grants within our normal annual time-line and this made our income very short for the full financial year.
CSUK was able to offset some costs of salaries in the second half of the financial year by taking advantage of the government ‘flexible furlough scheme’ from October. This meant that while employees reduced their hours, they were still able to deliver core activities and functions. Travel and subsistence costs to the Charity were also considerably reduced because multiple lockdowns meant that there was no travel!
Income from the Sylvia Adams Charitable Trust in March, and Global Make Some Noise supported the Charity’s finances into the next financial year 2021-2022.
2020 – 2021 has made CSUK more aware of dependence on income from funding applications to Charitable Trusts, and therefore we are moving more towards creating an independent income from revenue. We have set charges against our training for professionals, and we have been creating online resources which we intend to sell through a trading arm of the Charity, Cued Speech Trading Ltd. We have also made a significant partnership with a software company, Robotica Machine Learning, who are keen to develop resources which will significantly change the way that deaf people are able to access language in every context including home, school and access to work. Our aim is for these resources to generate a sustainable income for the Charity in the future.
Activities
CSUK responded flexibly to the changes that were required during multiple lockdowns and continued to deliver their activities. Our administrative and HR systems had been put onto Office 365; we were thus in a good position to continue to work from home.
We were easily able to accommodate the delivery of training and family support online and took the March lockdown as an opportunity to work with deaf children while they were at home. The year continued to be challenging due to Covid-19, but we did re-engage with home visits in September. The work in schools was more difficult to re-establish due to the restrictions on visiting. We have continued to engage with families online, through email and all digital platforms; however, during the third lockdown we have had to flexibly furlough some of our Regional Family Advisors.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
Activities (continued)
Our training resources were already available online, and we were using ZOOM. We were able to offer many more professionals and schools our online foundation training. The training is free to families, but schools pay for a license, so this provided a small amount of revenue for the Charity.
Over the past years CSUK has raised awareness through attendance at Conferences and Seminars, delivering workshops at events, writing short editorials for related magazines and raising our profile on all online media platforms. This year our delivery has had to change, and our publicity has solely moved to online platforms. CSUK has created a volume of Filmed Cued Words on different subjects. The whole team has contributed to this, but special thanks go to Cate Calder for all her film editing, to Carly Simpson for developing Cued films, stories, and drama sessions and to Tobin Broadbent for uploading as many films as possible to YouTube and the website.
Achievements and performance
Our Achievements at a Glance
CSUK has: -
-
delivered a total of 741 online Cued Speech training and support sessions to families with a deaf child through Zoom and worked directly with 80 deaf children one-to-one.
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delivered Zoom and Teams sessions, home and outdoor visits by our Regional Family Advisors (RFA) to assess needs, promote positive parenting and attachment, provide information on deafness and language acquisition and training in Cued Speech
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Made available free self-study online training in Cued Speech
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Created and disseminated Cued Speech games, songs and stories, FREE to families.
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Provided opportunities for deaf pre-school children to be included in virtual play groups
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Kept deaf children engaged with learning during lockdown via Zoom and Teams
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Made a new ‘Cued Speech family resource pack’ posted to 28 families. The pack includes Cued Speech games, learning and engaging Cued Speech practise material and a memory stick with all 42 films of Cued stories, songs, word banks and Cued challenges
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Created parent and child support networks, including a Dads’ Cueing Zoom club
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Made 28 filmed everyday Cued word banks for the under 4s and 10 more complex versions for the over 4s.
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Created and disseminated the Cued Speech alphabet rap, a Cued phonics song and many games and learning resources
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Planned a project ‘Love Reading for Deaf Children’: the development of filmed and Cued books for deaf and visual learners.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
Our Achievements at a Glance (continued)
There has been considerable development of our online resources, resulting in excellent online engagement:
-
332 people registered on our Moodle website.
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167 people registered for the self-study.
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We sold 12 Group licences for professionals. (Group licences are for 10 people.)
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We increased our followers over all media platforms by 500%
Conclusion
2020 has obliged CSUK to look into radically changing its focus of raising income so that it is not solely dependent on funding applications. Taking income generation into their control through sales of training and resources to professionals will enable it to budget more effectively and efficiently for the future.
An offer of a Legacy Fund from Sylvia Adams Charitable Trust (SACT) has prompted CSUK to look at the referrals of 0 – 3 and create a strategy which will engage more parents of deaf children.
A partnership with Robotica Machine Learning (RML) has offered CSUK the opportunity to create resources which will change deaf people’s access to literacy and language and which will provide an income stream for the Charity.
CSUK has set itself a target of 300% growth over the next three years.
Financial review
Income
Total income received in 2020/21 was £274,740, of which £262,657 was donated by charitable trusts, companies and individuals. The remaining £12,083 included tuition fees and charges, membership subscriptions and investment income.
Expenditure
Total expenditure was £286,682.
Reserves
Expenditure exceeded income by £11,942 resulting in decrease in funds from £131,222 to £119,280, of which £96,520 is restricted to specific work.
The Association's policy is to hold a designated reserve of £20,000 and in addition, operating reserves equivalent to not less than three months' expenditure. The balances held at 31 March 2021 met that requirement.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small company’s exemption.
The trustees' annual report was approved on ...6[th] October 2021.......and signed on behalf of the board of trustees by:
Miss C Hardy Chairperson
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Cued Speech UK Limited (continued)
Year ended 31 March 2021
I report to the trustees on my examination of the financial statements of Cued Speech UK Limited ('the charity') for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Sean R Smith FCA on behalf of THOMAS WESTCOTT Chartered Accountants Independent Examiner Petitor House Nicholson Road Torquay Devon, TQ2 7TD
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 40,360 | 222,297 | 262,657 | 236,941 |
| Charitable activities | 6 | 2,198 | 9,885 | 12,083 | 11,839 |
| Other trading activities | 7 | – | – | – | 405 |
| Investment income | 8 | – | – | – | 238 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 42,558 | 232,182 | 274,740 | 249,423 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 9,10 | 466 | 286,216 | 286,682 | 284,136 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 466 | 286,216 | 286,682 | 284,136 | |
| ============================ | ================================ | ================================ | ================================ | ||
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 42,092 | (54,034) | (11,942) | (34,713) | |
| ============================ | ================================ | ================================ | ================================ | ||
| Transfers between funds | – (42,000) |
– 42,000 |
– – |
238 – |
|
| ---------------------------- ---------------- |
-------------------------------- ----------- |
-------------------------------- ------------ |
-------------------------------- ------- ----------- |
||
| Net movement in funds | 92 | (12,034) | (11,942) | (34,713) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 40,668 | 90,554 | 131,222 | 165,935 | |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 40,760 | 78,520 | 119,280 | 131,222 | |
| ============================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 20 form part of these financial statements.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 16 | 4,254 | 5,672 | |
| Current assets | ||||
| Stocks | 17 | 743 | 743 | |
| Debtors | 18 | 3,783 | 3,442 | |
| Cash at bank and in hand | 117,550 | 127,639 | ||
| -------------------------------- | -------------------------------- | |||
| 122,076 | 131,824 | |||
| Creditors: amounts falling due within one year | 19 | 7,050 | 6,274 | |
| -------------------------------- | -------------------------------- | |||
| Net current assets | 115,026 | 125,550 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 119,280 | 131,222 | ||
| -------------------------------- | -------------------------------- | |||
| Net assets | 119,280 | 131,222 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted income funds: | ||||
| Other restricted income funds | 78,520 | 90,554 | ||
| Unrestricted funds | 40,760 | 40,668 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 22 | 119,280 | 131,222 | |
| ================================ | ================================ |
For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 6th October 2021 and are signed on behalf of the board by:
Miss C Hardy Chairperson
The notes on pages 11 to 20 form part of these financial statements.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Boatshed, Steamer Quay Road, Totnes, Devon, TQ9 5AL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Incoming resources
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity, being the amount, the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market.
Investment income is included when receivable.
Income from charitable trading activity is accounted for when earned.
Resources expended
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Costs of raising funds comprise the costs associated with attracting donations, grants and legacies and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings - 25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
3. Accounting policies (continued)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Cued Speech Association UK is a company limited by guarantee and accordingly does not have a share capital.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 39,911 | 214,827 | 254,738 |
| Grants | |||
| Government grant income | – | 7,470 | 7,470 |
| Subscriptions | |||
| Membership subscriptions | 449 | – | 449 |
| ---------------------------- | -------------------------------- | -------------------------------- | |
| 40,360 | 222,297 | 262,657 | |
| ============================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 24,510 | 212,061 | 236,571 |
| Grants | |||
| Government grant income | – | – | – |
| Subscriptions | |||
| Membership subscriptions | 370 | – | 370 |
| ---------------------------- | -------------------------------- | -------------------------------- | |
| 24,880 | 212,061 | 236,941 | |
| ============================ | ================================ | ================================ |
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Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
6. Charitable activities
| 6. | Charitable activities | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Contracted out staff | 918 | 6,885 | 7,803 | ||
| CS training income | 951 | 2,391 | 3,342 | ||
| Exam fees income | 64 | 213 | 277 | ||
| Miscellaneous income | 265 | 396 | 661 | ||
| Cue camp income | – | – | – | ||
| ----------------------- | ----------------------- | ---------------------------- | |||
| 2,198 | 9,885 | 12,083 | |||
| ======================= | ======================= | ============================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Contracted out staff | – | 6,455 | 6,455 | ||
| CS training income | 49 | 1,474 | 1,523 | ||
| Exam fees income | – | 464 | 464 | ||
| Miscellaneous income | 5 | 3,369 | 3,374 | ||
| Cue camp income | – | 23 | 23 | ||
| -------------- | ---------------------------- | ---------------------------- | |||
| 54 | 11,785 | 11,839 | |||
| ============== | ============================ | ============================ | |||
| 7. | Other trading activities | ||||
| Restricted | Total Funds | Restricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Info presentation income | – | – | 405 | 405 | |
| ============== | ============== | ============== | ============== | ||
| 8. | Investment income | ||||
| Restricted | Total Funds | Restricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | – | – | 238 | 238 | |
| ============== | ============== | ============== | ============== | ||
| 9. | Expenditure on charitable activities by | fund type | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Charitable activity costs | 12 | 235,774 | 235,786 | ||
| Support costs | 454 | 32,442 | 32,896 | ||
| Exceptional costs of charitable activities | – | 18,000 | 18,000 | ||
| -------------- | -------------------------------- | -------------------------------- | |||
| 466 | 286,216 | 286,682 | |||
| ============== | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Charitable activity costs | 1,200 | 239,298 | 240,498 | ||
| Support costs | 2,317 | 41,321 | 43,638 | ||
| Exceptional costs of charitable activities | – | – | – | ||
| ----------------------- | -------------------------------- | -------------------------------- | |||
| 3,517 | 280,619 | 284,136 | |||
| ======================= | ================================ | ================================ | |||
| - 16 - |
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
10. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Charitable activity costs | 235,786 | – | 235,786 | 240,498 |
| Support costs | – | 32,896 | 32,896 | 43,638 |
| Exceptional costs of charitable | ||||
| activities | 18,000 | – | 18,000 | – |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 253,786 | 32,896 | 286,682 | 284,136 | |
| ================================ | ============================ | ================================ | ================================ |
11. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets | 1,418 | 1,890 |
| ======================= | ======================= | |
| Independent examination fees | ||
| 2021 | 2020 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 3,914 | 2,949 |
| ======================= | ======================= |
12. Independent examination fees
13. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 207,830 | 192,465 |
| Employer contributions to pension plans | 6,748 | 6,809 |
| Other employee benefits | – | 52 |
| -------------------------------- | -------------------------------- | |
| 214,578 | 199,326 | |
| ================================ | ================================ | |
| The average head count of employees during the year was 10 (2020: 10). The average number | ||
| of full-time equivalent employees during the year is analysed as follows: | ||
| 2021 | 2020 | |
| No. | No. | |
| Number of staff | 9 | 9 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Transfers between funds
During the year £42,000 was transferred from Unrestricted Funds to Restricted Funds.
- 17 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
16. Tangible fixed assets
| Fixtures and | ||
|---|---|---|
| fittings | Total | |
| £ | £ | |
| Cost | ||
| At 1 April 2020 and 31 March 2021 | 16,848 | 16,848 |
| ============================ | ============================ | |
| Depreciation | ||
| At 1 April 2020 | 11,176 | 11,176 |
| Charge for the year | 1,418 | 1,418 |
| ---------------------------- | ---------------------------- | |
| At 31 March 2021 | 12,594 | 12,594 |
| ============================ | ============================ | |
| Carrying amount | ||
| At 31 March 2021 | 4,254 | 4,254 |
| ============================ | ============================ | |
| At 31 March 2020 | 5,672 | 5,672 |
| ============================ | ============================ | |
| Stocks | ||
| 2021 | 2020 | |
| £ | £ | |
| Raw materials and consumables | 743 | 743 |
| ============== | ============== | |
| Debtors | ||
| 2021 | 2020 | |
| £ | £ | |
| Amounts owed by undertakings in which the charity has a | ||
| participating interest | 300 | – |
| Prepayments and accrued income | 2,445 | 2,439 |
| Other debtors | 1,038 | 1,003 |
| ---------------------------- | ----------------------- | |
| 3,783 | 3,442 | |
| ============================ | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2021 | 2020 | |
| £ | £ | |
| Accruals and deferred income | 2,592 | 2,151 |
| Social security and other taxes | 3,392 | 3,108 |
| Other creditors | 1,066 | 1,015 |
| ----------------------- | ----------------------- | |
| 7,050 | 6,274 | |
| ======================= | ======================= |
17. Stocks
18. Debtors
19. Creditors: amounts falling due within one year
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £6,748 (2020: £6,809).
- 18 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
21. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 7,470 | – |
| ======================= | ============== |
During the year the charity was the recipient of economic benefits as a result of participating in the UK Government’s Coronavirus Job Retention Scheme. The total funds recognised on an accruals basis from the UK Government during the year was £7,470.
22. Analysis of charitable funds
Unrestricted funds
| At | At | ||||
|---|---|---|---|---|---|
| 1 April | 31 March | ||||
| 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | 20,668 | 42,558 | (466) | (42,000) | 20,760 |
| Designated funds | 20,000 | – | – | – | 20,000 |
| ---------------------------- | ---------------------------- | -------------- | ---------------------------- | ---------------------------- | |
| 40,668 | 42,558 | (466) | (42,000) | 40,760 | |
| ============================ | ============================ | ============== | ============================ | ============================ | |
| At | At | ||||
| 1 April | 31 March | ||||
| 2019 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| General funds | 34,251 | 24,934 | (3,517) | (35,000) | 20,668 |
| Designated funds | 20,000 | – | – | – | 20,000 |
| ---------------------------- | ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| 54,251 | 24,934 | (3,517) | (35,000) | 40,668 | |
| ============================ | ============================ | ======================= | ============================ | ============================ |
- 19 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2021
22. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 April | 31 March | ||||
| 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| 0 – 18 UK | 60,718 | 211,256 | (242,727) | 41,926 | 71,173 |
| Hertfordshire | 8,988 | 8,586 | (17,648) | 74 | – |
| Wales | 20,316 | 3,000 | (15,969) | – | 7,347 |
| North East | 532 | 9,340 | (9,872) | – | – |
| -------------------------------- | -------------------------------- | -------------------------------- | ---------------------------- | -------------------------------- | |
| 90,554 | 232,182 | (286,216) | 42,000 | 78,520 | |
| ================================ | ================================ | ================================ | ============================ | ================================ | |
| At | At | ||||
| 1 April | 31 March | ||||
| 2019 | Income | Expenditure | Transfers | 2020 | |
| £ | £ | £ | £ | £ | |
| 0 – 18 UK | 85,043 | 176,875 | (226,200) | 35,000 | 60,718 |
| Hertfordshire | 11,084 | 23,044 | (25,140) | – | 8,988 |
| Wales | 15,240 | 19,790 | (14,714) | – | 20,316 |
| North East | 317 | 4,780 | (4,565) | – | 532 |
| -------------------------------- | -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | |
| 111,684 | 224,489 | (280,619) | 35,000 | 90,554 | |
| ================================ | ================================ | ================================ | ============================ | ============================ | |
| Analysis of net assets | between funds | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,146 | 3,108 | 4,254 | ||
| Current assets | 39,614 | 75,412 | 115,026 | ||
| ----------------------------- | ---------------------------- | ---------------------------- | |||
| Net assets | 40,760 | 78,520 | 119,280 | ||
| ========================== | ========================== | ========================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| £ | £ | £ | |||
| Tangible fixed assets | 1,528 | 4,144 | 5,672 | ||
| Current assets | 39,153 | 86,397 | 125,550 | ||
| ---------------------------- | ---------------------------- | -------------------------------- | |||
| Net assets | 40,681 | 90,541 | 131,222 | ||
| ============================ | ============================ | ================================ |
23. Analysis of net assets between funds
- 20 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2021
The following pages do not form part of the financial statements.
- 21 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income | ||
| Donations | ||
| Donations | 254,738 | 236,571 |
| Government grant income | 7,470 | – |
| Membership subscriptions | 449 | 370 |
| -------------------------------- | -------------------------------- | |
| 262,657 | 236,941 | |
| -------------------------------- | -------------------------------- | |
| Charitable activities | ||
| Contracted out staff | 7,803 | 6,455 |
| CS training income | 3,342 | 1,523 |
| Exam fees income | 277 | 464 |
| Miscellaneous income | 661 | 3,374 |
| Cue camp income | – | 23 |
| ---------------------------- | ---------------------------- | |
| 12,083 | 11,839 | |
| ---------------------------- | ---------------------------- | |
| Other trading activities | ||
| Info presentation income | – | 405 |
| -------------- | -------------- | |
| Investment income | ||
| Bank interest receivable | – | 238 |
| -------------- | -------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 274,740 | 249,423 |
| ================================ | ================================ |
- 22 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 207,830 | 192,465 |
| Pension costs | 6,748 | 6,809 |
| Other post-retirement benefits | – | 52 |
| Repairs and maintenance | 1,814 | 452 |
| Insurance | 2,662 | 3,632 |
| Other establishment | 9,912 | 13,424 |
| Motor vehicle expenses | 2,624 | 14,659 |
| Legal and professional fees | 15,851 | 15,634 |
| Telephone | 4,838 | 4,822 |
| Other office costs | 9,878 | 10,136 |
| Depreciation | 1,418 | 1,890 |
| Interest on bank loans and overdrafts | 6 | – |
| Other interest payable and similar charges | 69 | 60 |
| Subscriptions and licences | 3,851 | 4,762 |
| Info conference fees and charges | (171) | 1,184 |
| Info freelance staff | 852 | 7,329 |
| Cue camp | – | 6,542 |
| Publications and advertising | 500 | 284 |
| Exceptional costs of raising donations and legacies | 18,000 | – |
| -------------------------------- | -------------------------------- | |
| 286,682 | 284,136 | |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total expenditure | 286,682 | 284,136 |
| ================================ | ================================ | |
| -------------------------------- | -------------------------------- | |
| Net expenditure | (11,942) | (34,713) |
| ================================ | ================================ |
- 23 -
Cued Speech UK Limited
Charitable Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2021
| Year ended 31 March 2021 | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Expenditure on charitable activities | ||
| Activities undertaken directly | ||
| Staff costs - wages/salaries | 207,830 | 192,465 |
| Staff costs - pension costs | 6,748 | 6,809 |
| Staff costs - other employee benefits | – | 52 |
| Motor vehicle expenses | 2,624 | 14,659 |
| Freelance tutor fees, legal and accounts | 11,307 | 5,365 |
| Other office costs | 6,090 | 5,809 |
| Interest on bank loans and overdrafts | 6 | – |
| Info conference fees and charges | (171) | 1,184 |
| Info freelance staff | 852 | 7,329 |
| Cue camp | – | 6,542 |
| Publications and advertising | 500 | 284 |
| -------------------------------- | -------------------------------- | |
| 235,786 | 240,498 | |
| -------------------------------- | -------------------------------- | |
| Support costs | ||
| Repairs and maintenance | 1,814 | 452 |
| Insurance | 2,662 | 3,632 |
| Rent | 9,912 | 13,424 |
| Accountancy fees | 3,914 | 2,949 |
| Legal and other professional fees | 630 | 4,223 |
| Costs of trustees' meetings | – | 3,097 |
| Telephone and broadband | 4,838 | 4,822 |
| Printing, postage and stationery | 3,788 | 4,327 |
| Depreciation | 1,418 | 1,890 |
| Other finance costs | 69 | 60 |
| Subscriptions and licences | 3,851 | 4,762 |
| ---------------------------- | ---------------------------- | |
| 32,896 | 43,638 | |
| ---------------------------- | ---------------------------- | |
| Exceptional costs of charitable activities | ||
| Activities undertaken directly (exceptional costs of charitable activities) | 18,000 | – |
| ---------------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | 286,682 | 284,136 |
| ================================ | ================================ |
- 24 -