OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Charity Registration No. 284975

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Chairperson Terry Williams
Secretary Catherine Brundett
Treasurer Jonathan Thulbon
Parent Reps Jodie Nash
Catherine Brundett
Kim Lloyd
Individual Members Elizabeth Mizen
Lynne Teague
Jonathan Thulbon
Consultant Reps Advisory Capacity Sue Burrows
Charity number 284975
Principal address Bowens Hill Road
Coleford
Gloucestershire
GL16 8DU
Independent examiner Griffiths Marshall
Beaumont House
172 Southgate Street
Gloucester
GL1 2EZ

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

CONTENTS

Page
Trustees report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Statement of cash flows 6
Notes to the financial statements 7 - 18

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and financial statements for the year ended 31 March 2021.

Forest of Dean Children's Opportunity Centre is a registered charity (number 284975) governed by a declaration of Trust. The constitution was adopted on 31 March 1982 and amended in 1988, 1991, 2001 and 2013.

The principal office of the Charity is Bowens Hill Road, Coleford, Gloucestershire GL16 8DU.

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 constitution , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)”

Structure, governance and management

The trustees who served during the year were:

Chairperson Terry Williams Secretary Catherine Brundett Treasurer Jonathan Thulbon Parent Reps Jodie Nash Catherine Brundett Kim Lloyd Individual Members Elizabeth Mizen Helen Baker Lynne Teague Jonathan Thulbon

Consultant Reps Advisory Capacity Sue Burrows

Objectives, Activities, Acheivements, Performance, Public Benefit

The Forest of Dean Children’s Opportunity Centre provides a range of support services to all families w ith or without a SEN need from birth to the age of 7, and covers the whole of the Forest of Dean area, in furtherance of its charitable activities for the Public Benefit. The ethos of the centre is inclusive integration with generally a 50/50 mix of children with or without needs.

The services provided include family support, holiday activity play scheme, parent and toddler sessions, parent support groups, advice and guidance, early counselling and fully inclusive pre-school sessions.

The centre provides an informal meeting place for parents and those professionals involved in the care of the children.

It is the philosophy of the Charity that Children be integrated with their peers, regardless of their abilities and be able to play, learn and develop in an environment that is safe, welcoming, and stimulating.

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The trustees have complied with their duty to have regard to the guidance on Public Benefit published by the Charity Commission in exercising their powers and duties , and have paid due regard to guidance issued by the charities commission in deciding what activities to undertake.

Activities included Holiday Playschemes, Family Days, Rising 3’s and pre school, nurture group, babies and Stay and Play. All these activities had waiting lists. Children progressed, and new children are accessing services.

Financial Review and Plans for Future Periods

Funding for the following year is in the process of being secured. The trustees are confident that the charity will continue to provide the services needed by the families.

The Covid-19 crisis has had an impact on the Centre by means of financial, mental, health and well-being, parent support, and emotional impact. As a Centre a percentage of staff were able to work within government guidelines to support parents and children throughout via e-mail and on-line learning. Key worker and vulnerable children attended in 2 bubble groups to ensure minimum impact on their well-being and families. Fund raising events that could not go ahead have resulted in a loss of income for the Centre. Increase of PPE has seen a rise in costs for cleaning materials. Looking forward, fund raising events and grants will be sourced to accommodate these losses and increased costs.

Reserves Policy

The trustees have no plans for significant changes in the levels of reserves, which are required to finance continued holding of the leasehold land and buildings and for the purpose of the restricted funds and designated funds described in note 6 to the accounts and to finance prudent provision for redundancy etc costs should the charity ever have to reduce in size or cease. The timing of any expenditure of the building contingency fund in the future is inherently uncertain.

Risks

As most grants are usually made for one year only, income cannot be guaranteed. Fund holders may change their eligibility criteria and the Charity may no longer fall within the funder’s remit.

Significant Developments

More families and children are accessing services at the Centre than ever before, so furthering the charity’s charitable activities for the Public Benefit.

More staff /volunteers have been employed for holiday activities thereby allowing the charity to take in more children.

Investment Powers

All income is paid into an investment account and the bank automatically transfer funds to the current account when needed.

Recruitment and Appointment of New Trustees

Attempts are made to recruit new trustees at the time of Annual General Meetings, and trustees are appointed by approval at Annual General Meetings.

The Trustees r eport was approved by the Board of Trustees.

Terry Williams

Chairperson Dated: 15 September 2021

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

I report on the financial statements of the charity for the year ended 31 March 2021, which are set out on pages 4 to 18.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

Ian Price FCA Griffiths Marshall 20 Newerne Street Lydney GL15 5RA

Dated: 15 September 2021

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
178,835
-
Charitable activities
4
16,522
-
Investments
5
1,320
-
Total income
196,677
-
Expenditure on:
Raising funds
-
-
Charitable activities
6
227,403
3,823
Total resources
expended
227,403
3,823
Net (expenditure)/income
for the year/
Net movement in funds
(30,726)
(3,823)
Fund balances at 1
April 2020
359,279
23,037
Fund balances at 31
March 2021
328,553
19,214		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
178,835
210,834
1,800
16,522
46,020
-
1,320
11
-
196,677
256,865
1,800
-
1,846
-
231,226
240,427
3,823
231,226
242,273
3,823
(34,549)
14,592
(2,023)
382,316
344,687
25,060
347,767
359,279
23,037		 Total
2020
£
212,634
46,020
11
258,665
1,846
244,250
246,096
12,569
369,747
382,316

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
13
Unrestricted funds
Designated funds
14
General unrestricted funds		 2021
£
1,432
133,160
134,592
(3,315)
146,512
182,041		 £
216,490
131,277
347,767
19,214
328,553
347,767		 2020
£
3,983
161,289
165,272
(6,152)
146,512
212,767		 £
223,196
159,120
382,316
23,037
359,279
382,316

The financial statements were approved by the Trustees on 15 September 2021

Terry Williams Trustee

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
17
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash (used in)/generated from
investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
(2,134)
1,320		 £
(27,315)
(814)
-
(28,129)
161,289
133,160		 2020
£
-
11		 £
25,649
11
(1)
25,659
135,630
161,289

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Company information

Forest of Dean Children’s Opportunity Centre is a charitable trust, and is a Public Benefit Entity as defined by FRS102.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling , which is the functional currency of the charity.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Resources expended

Resources expended are recognised in the period in which they are incurred on the accruals basis. Resources expended include attributable VAT which cannot be recovered.

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.6 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:

Leasehold land and buildings 1% straight line basis Equipment 15% reducing balance basis Minibus 10% straight line basis

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 net income/(expenditure) for the year.

Expensed Equipment

Small items of equipment are charged to the statement of financial activities in full in the year they are bought, rather than being capitalised.

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 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations, gifts, transport payments
13,564
-
Grant income
165,271
-
For the year ended 31 March 2021
178,835
-
For the year ended 31 March 2020
210,834
1,800		 Total
2021
£
13,564
165,271
178,835		 Total
2020
£
22,264
190,370
212,634
212,634

Of the grant income for the year ended 31 March 2021, £104,068 was from government bodies (local authorities and HM Revenue & Customs).

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4 Charitable activities

Fundraising + Playscheme +
Session fees +
Session fees +		 Total Fundraising + Playscheme +
Session fees +		 Total
Shop Stay and Play Playroom 2021 Shop Stay and Play
Playroom		 2020
Funding Funding
2021 2021 2021 2020 2020
2020
£ £ £ £ £ £
£		 £
Sales within charitable activities 316
(4)		 16,210 16,522
19,792
5,446
20,782		 46,020

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

5 Investments

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Interest receivable 1,320 11

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6 Charitable activities

Opportunity
Centre
Fundraising
+ Shop
Playscheme
+ Stay and
Play
Session
Fees
£
£
£
£
Staff costs
177,935
-
-
-
Depreciation and impairment
5,337
-
-
-
Staff training
405
-
-
-
Insurance
5,204
-
-
-
Heat, light and water
3,553
-
-
-
Repairs and maintenance
5,978
-
-
-
Postage, office and computer
8,227
-
-
-
Telephone
3,005
-
-
-
Travel expenses
2,368
-
-
-
Subscriptions
919
-
-
-
Sundry
2,400
-
-
-
Shop expenses
-
-
-
-
Play & art materials
-
-
-
-
Session costs
-
-
-
2,222
Minibus expenses
-
-
-
-
215,331
-
-
2,222
Share of governance costs (see note 7)
5,886
-
-
-
221,217
-
-
2,222		 Minibus
£
-
3,503
-
-
-
-
-
-
-
-
-
-
-
-
4,284
7,787
-
7,787		 Total
2021
£
177,935
8,840
405
5,204
3,553
5,978
8,227
3,005
2,368
919
2,400
-
-
2,222
4,284
225,340
5,886
231,226		 Total
2020
£
191,538
8,999
614
4,574
4,658
3,233
8,291
3,371
2,385
935
2,493
997
193
2,804
6,066
241,151
3,099
244,250

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

6 Charitable activities

Analysis by fund Unrestricted funds Restricted funds

For the year ended 31 March 2020 Unrestricted funds Restricted funds

220,897
320
221,217
230,367
320
230,687		 -
-
-
997
-
997		 -
-
-
193
-
193		 2,222
-
2,222
2,804
-
2,804		 4,284
3,503
7,787
6,066
3,503
9,569		 (Continued)
227,403
3,823
231,226
240,427
3,823
244,250

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Support costs

Support
costs
Governance
costs
£
£
Independent examiner
-
930
Legal and professional
-
4,875
Bank charges
-
81
-
5,886
Analysed between
Charitable activities
-
5,886		 2021
£
930
4,875
81
5,886
5,886		 2020 Basis of allocation
£
918 Governance
2,105 Governance
76 Governance
3,099
3,099

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits or expenses from the charity during the year.

9 Employees

Number of employees

The average number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
16
2021
£
168,532
7,044
2,359
177,935		 2020
Number
17
2020
£
182,730
6,161
2,647
191,538

There were no employees whose annual remuneration was £60,000 or more.

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10
Tangible fixed assets
Leasehold
land and
buildings
Equipment
£
£
Cost
At 1 April 2020
230,156
60,903
Additions
-
2,134
At 31 March 2021
230,156
63,037
Depreciation and impairment
At 1 April 2020
39,065
42,810
Depreciation charged in the year
2,302
3,035
At 31 March 2021
41,367
45,845
Carrying amount
At 31 March 2021
188,789
17,192
At 31 March 2020
191,091
18,093
11
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals		 Minibus
£
35,030
-
35,030
21,018
3,503
24,521
10,509
14,012
2021
£
1,332
100
1,432
2021
£
1,744
-
-
1,571
3,315		 Total
£
326,089
2,134
328,223
102,893
8,840
111,733
216,490
223,196
2020
£
2,610
1,373
3,983
2020
£
2,337
37
276
3,502
6,152

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources Balance at Resources Balance at
1 April 2019 resources expended 1 April 2020 expended
31		 March 2021
£ £ £ £ £ £
Minibus fund 17,485 - (3,503) 13,982 (3,503) 10,479
Child Changing Area
Project 7,575 - (320) 7,255 (320) 6,935
Barnwood Trust - 1,800 - 1,800 - 1,800
25,060 1,800 (3,823) 23,037 (3,823) 19,214

Purposes of restricted funds:

Minibus Fund - To finance the purchase of a minibus.

Child Changing Area Project - To finance the child changing area refurbishment. Other Funds - To finance the expenditure for which the grants were given. Barnwood Trust - To finance a holiday playscheme.

14 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement
in funds
Balance at Incoming
Balance at
1 April 2020 resources
31 March 2021
£
£
£
Premises fund 120,975
-
120,975
Building contingency fund 25,537
-
25,537
146,512
-
146,512

Purposes of designated funds:

Premises Fund - To set aside funds relating to the premises. Building Contingency - To set aside funds for building contingency

FOREST OF DEAN CHILDRENS OPPORTUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

15
Analysis of net assets between funds
Designated
funds
£
Fund balances at 31 March 2021 are represented by:
Tangible assets
146,512
Current assets/(liabilities)
-
146,512
16
Related party transactions
There were no disclosable related party transactions during the year (2020 -
17
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
(Decrease) in creditors
Cash (absorbed by)/generated from operations
18
Analysis of changes in net funds
The charity had no debt during the year.		 General
funds
Restricted
funds
£
£
52,564
17,414
129,477
1,800
182,041
19,214
none).
2021
£
(34,549)
(1,320)
8,840
2,551
(2,837)
(27,315)		 Total
£
216,490
131,277
347,767
2020
£
12,569
(11)
8,999
12,464
(8,372)
25,649