Eye Opportunity Group
EYE OPPORTUNITY GROUP
Charity number 287907
FINANCIAL STATEMENTS
FOR THE YEAR ENEDED 31 MARCH 2022
MARSH ACCOUNTANCY 67 GARDENERS ROAD DEBENHAM STOWMARKET SUFFOLK IP14 6RX
Eye Opportunity Group
Index to the Financial Statements
For the year ended 31 March 2022
| Page | |
|---|---|
| Trustees Annual Report | 1 |
| Independent Examiner’s Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes | 5 – 7 |
Eye Opportunity Group
Trustees Annual Report For the year ended 31 March 2022
The committee comprising the Trustees submits its report and the financial statements for the year ended 31[st] March 2022.
Governance
The charity is registered by the Charity Commission for England and Wales, registration number 287907. The charity’s objects and rules are as set out in its Constitution adopted 12[th] November 2009 having previously been adopted in June 1983, as amended 5[th] September 1983, 5[th] December 1990, 7[th] November 2002, 5[th] August 2003.
The committee meets regularly to review and oversee the charity’s policy management and statutory and financial business. It comprises the principal officers (Chairman, Secretary and Treasurer) and no less than 4 and no more than 9 other members. The committee has power to co-opt up to 3 further members with special knowledge, experience or interest appropriate to the charity’s aims and objectives. No officers may be elected for a sixth consecutive year in the same post.
The members and officers of the committee during the year were:
Jayne Stansfeld - Chair Suzanne Hilliard Bridget Hitchman – Treasurer Kelly Ronan Jane Bright - Secretary Kelly Roberts (appointed 25 November 2021) Eleanore Garwood Kim Giles (appointed 25 November 2021) Jane Scott Caroline Boama (appointed 01 February 2022) Anna Chambers
Charitable Aims and Objectives
The group is established to provide safe and satisfying group play for the advancement of education and development of children. It provides a supportive environment for children with additional needs and their families. The group also provides a day care setting and offers support to families and carers in the local community and surrounding areas.
Financial Statements
The financial statements are drawn up in accordance with the charity’s constitution and all statutory requirements. A deficit of receipts over payments of £1,972 (2021: excess £37,213) was realised for the year. At the year-end total funds were £62,006 (2021: £63,978).
Reserves Policy
The charity endeavours to maintain unrestricted reserves equating to £ 30,000 to cover the cost of closing the charity should this situation arise or relocating to a new site. This reserve includes funds for statutory redundancy and notice payments for staff.
Approved by the committee and sign on its behalf by
Chairman Treasurer Date: Date:
1
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
I report on the accounts of the Eye Opportunity Group for the year ended 31 March 2022 which are set out on pages 3-4.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for the year under section 114 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
Examine the financial statements under section 145 of the Charities Act;
-
To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act); and
-
To state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations for you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and the report is limited to those matters set out in the statement below.
Independent Examiner’s statement
In connection with my examination, no matter has come to my attention:
-
Which gives reasonable cause to believe that in any material respect the requirements
oTo keep accounting records in accordance with Section 130 of the Charities Act and -
To prepare accounts which accord with the accounting records and
-
To comply with the accounting requirements of the Charities Act
have not been met, or
- To which, in my opinion, attention should be drawn in order to enable proper understanding of the accounts to be reached.
Rachel Marsh FMAAT Marsh Accountancy 67 Gardeners Road Debenham Suffolk IP14 6RX
Date: 10 November 2022
Eye Opportunity Group
Statement of Financial Activities For the Year Ended 31 March 2022
| Notes Incoming Resources Activities for generating funds Fundraising & donations Investment income Gift Aid funding Government COVID grants Total incoming resources Resources Expended Salaries 2 Employers Pension contributions Postage & stationery Activities, trips & outings Heat & light Training & subscriptions Toys & equipment Rent & Rates Repairs & maintenance Insurance Refreshments Telephone & broadband General Running Costs Independent Examiner’s Fee Payroll fees Depreciation 3 Total resources expended Insurance claim Net incoming/outing resources Net movement in funds Total funds brought forward Total funds carried forward 6 Incoming resources from generated funds; Incoming resources from grants and funding |
Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 1,231 - 1,231 443 9,729 - 9,729 12,908 5 - 5 11 - - - 2,444 - 31,692 31,692 51,930 - 2,692 2,692 12,527 |
|---|---|
| 10,964 34,384 45,348 80,263 | |
| 3,156 34,384 37,540 31,184 495 - 495 401 150 - 150 56 - - - 76 1,011 - 1,011 699 185 - 185 375 1,472 - 1,472 1,557 2,050 - 2,050 1,333 731 - 731 740 458 - 458 - 302 - 302 43 648 - 648 802 309 - 309 4,901 300 - 300 300 700 - 700 288 970 - 970 295 |
|
| 12,936 34,384 47,320 43,050 | |
| - - - - ( 1,972) - ( 1,972) 37,213 |
|
| ( 1,972) - ( 1,972) 37,213 63,978 - 63,978 26,765 |
|
| 62,006 - 62,006 63,978 |
3
Eye Opportunity Group
Balance Sheet As at 31 March 2022
| Notes Fixed Assets 3 Equipment Current Assets 4 Debtors and prepayments Cash at bank and in hand: Bank current account Bank Base Rate Tracker account Cash in hand Current liabilities 5 Net current assets Total net assets Unrestricted funds Restricted funds 6 Approved by the trustees on ____ Creditors: amounts falling due within one year |
Unrestricted General Designated 31 March 2022 31 March 2021 £ £ £ £ 6,144 - 6,144 - 368 |
|---|---|
| - - - - 6,279 - 6,279 14,158 50,106 - 50,106 50,101 76 - 76 22 |
|
| 56,462 - 56,462 64,282 600 - 600 672 |
|
| 55,862 - 55,862 64,954 |
|
| 62,006 - 62,006 64,586 |
|
| 62,006 - 62,006 63,978 - - - - |
|
| 62,006 - 62,006 63,978 |
|
| __ and signed on its behalf by: |
Trustee
Trustee
4
Eye Opportunity Group
Notes to the Financial Statements For the Year Ended 31 March 2022
1. Accounting policies
Accounting convention
These accounts have been prepared under the historic cost convention and in accordance with the Financial Reporting standard for Smaller Entities (effective April 2009). In preparing the financial statements the charity follow best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2005) used in March 2005.
Grants, donations and fundraising
Income is received by way of grants, donations and fundraising activities, which are included in full in the statement of financial activities as soon as the charity has entitlement to the income, there is certainty of receipt and the amount is quantifiable.
Investment income
Bank interest is included in the statement of financial activities as it becomes due.
Resources expended
All expenditure; including the purchase of toys and equipment, is included in the statement of financial activities, as soon as the obligation arises.
Funds
The charity maintains various types of funds as follows:
Unrestricted funds represent unrestricted income which is expendable at the discretion of the trustees in furtherance of the objectives of the charity.
Restricted funds represent donations and grants received which are allocated by the donor for a specific purpose.
Fixed assets
The depreciation rates used are as follows:
Equipment 20% straight line method.
2. Staff emoluments
| Salaries Employers Pension Contributions Average number of full time equivalent employees |
£ £ 37,540 31,184 495 401 31 March 2022 31 March 2021 |
|---|---|
| 38,034 31,586 | |
| 7 7 |
No employee earned more than £60,000 in the year. No remuneration or expenses were paid to trustees in the year.
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Eye Opportunity Group
Notes to the Financial Statements (continued) For the Year Ended 31 March 2022
3. Fixed Assets
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Equipment Total £ £ 1,997 1,997 6,746 6,746 |
|---|---|
| 8,744 8,744 | |
| 1,630 1,630 970 970 |
|
| 2,600 2,600 | |
| 6,144 6,144 | |
| 368 368 |
4. Debtors and prepayments
There were no debtors at 31 March 2022 (2021:£nil).
5. Creditors: amounts falling due within one year
| PAYE creditor Accruals |
£ £ 093 600 300 31 March 2021 31 March 2022 |
|---|---|
| 600 393 |
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Eye Opportunity Group
Notes to the Financial Statements (continued) For the Year Ended 31 March 2022
6. Restricted funds
| Balance at 1 | Balance at 31 | ||||
|---|---|---|---|---|---|
| April 21 | Movements in | funds | Funds transfer | March 22 | |
| Incoming | Outgoing | ||||
| £ | £ | £ | £ | £ | |
| BBC Children in Need | - | 10,000 |
10,000 | - | - |
| Mid Suffolk District Council | - | 1,192 |
1,192 | - | - |
| SCCAPORS Activities Unlimited | - | 6,000 |
6,000 | - | - |
| Suffolk Community Foundation | - | 4,500 |
4,500 | - | - |
| St James Place | - | 10,000 |
10,000 | - | - |
| HMRC Furlough Scheme | - | 2,692 |
2,692 | - | - |
- 34,384 34,384 - -
BBC Children in Need - funds provided for existing staff Mid Suffolk District Council - funds provided for existing staff Suffolk County Council - funds provided for existing staff Suffolk Community Foundation - funds provided for existing staff HMRC Furlough Scheme - Government COVID grant scheme for existing staff costs
7. Taxation
The playgroup is a registered charity and does not trade for tax purposes. It is not liable to corporation tax on its surplus.
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