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2023-03-31-accounts

Annual Report and Consolidated Accounts 31 March 2023

Charity Registration Number 312278

The Thomas Coram Foundation for Children was established by Royal Charter in 1739.

Contents

Reports
Reference and administratve details of the charity, its Trustees
and its advisers 1
Chairman’s report 3
Trustees’ report 5
Independent auditor’s report 32
Accounts
Consolidated statement of fnancial actvites 36
Charity statement of fnancial actvites 37
Balance sheets 38
Consolidated statement of cash fows 39
Principal accountng policies 40
Notes to the accounts 46
Appendix
Comparatve statement of fnancial actvites 77
Comparatve notes to the fnancial statements 79

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Reference and adminsitrative details of the charity, its Trustees and its advisers

President and Chairman

Sir David Bell

General Committee (Charity Trustees)

Paul Curran Geoff Berridge Jenny Coles Paul Hewitt – Vice Chairman – Honorary Treasurer Her Honour Judge Jill Pay Ade Adetosoye Andrew Carter Celia Dawson Kerry Smith Hanif Barma Yogesh Chauhan James Dray Dr Judith Trowell

Chief Executive (CEO)

Dr Carol Homden CBE

Chief Finance Officer

Velou Singara

Managing Director of People & Compliance

Christine Kelly

Principal office

Coram Community Campus 41 Brunswick Square London WC1N 1AZ

Telephone 020 7520 0300 Facsimile 020 7520 0301 Website www.coram.org.uk E-mail chances@coram.org.uk Charity registration number 312278

Auditor

Buzzacott LLP 130 Wood Street London EC2V 6DL

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Reference and adminsitrative details of the charity, its Trustees and its advisers

Investment managers

Veritas Asset Liontrust Asset Management LLP Management PLC 1 Smart’s Place 2 Savoy Court London London WC2B 5LW WC2R 0EZ

Rathbone Investment Management Limited 8 Finsbury Circus London EC2M 7AZ

Aberdeen SVG Private Equity Advisers Limited Bow Bells House 1 Bread Street London EC4M 9HH

Bankers

National Westminster Bank plc Chancery Lane and Holborn Branch 332 High Holborn London WC1V 7PS

Solicitors

Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD

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Chairman’s Report | 31 March 2023

The scale of challenge for children has become ever starker with the impact of the pandemic compounded by the severity of the cost of living crisis. Coram has worked to sustain and enhance its services at or beyond pre-pandemic levels to make the biggest possible difference for children today, whilst striving to change the odds for the next generation.

Better chances for children today

Coram Children’s Legal Centre (CCLC) expanded its legal practice across community care, family, education and immigration law to address the challenges to children’s rights and entitlements through advice and representation, and – despite the pressures of legal aid funding - is increasing its focus on special educational needs and exclusion following the transfer of services from Just for Kids Law.

As schools strive to address the wellbeing challenges children are facing and look to trusted partners for resources to help deliver statutory relationship and sex education, Coram Life Education increased the number of teachers and schools subscribing to its SCARF curriculum and developed new early years and secondary resources to address their needs.

Coram Shakespeare Schools Foundation once again provided children across the country with the chance to shine through its annual festival and targeted programmes, and launched the only celebration with, for and by children to mark the 400th anniversary of the publication of Shakespeare’s Folio.

Coram Voice has reached more young people leaving care than ever before, delivering specialist advocacy to ensure they are always heard in decisions that matter in their lives. Coram Voice is also working to expand homeless outreach in London and the North West in particular, whilst undertaking the national consultation with young people for the Independent Review of Children’s Social Care.

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Chairman’s Report | 31 March 2023

Coram Beanstalk celebrated its 50th birthday with a visit from our Patron, Her Majesty Queen Camilla. We also marked the 50th anniversary of Coram Adoption which was celebrated at an event at the Foundling Museum, hosted by broadcaster and adoptee James O’Brien, and addressed by Coram adopter Rt, Hon. David Lammy MP, as well as former Minister of State, Edward Timpson MP.

As the challenges facing voluntary adoption agencies continued, we are proud to welcome the Intercountry Adoption Centre to the Coram Group to ensure expert support to all local authorities and regional adoption agencies in this complex specialist work and also to support young adopted people in exploring identity In-Between Lines.

Better odds for the next generation

CoramBAAF has worked tirelessly to support frontline professionals through publications, training and resources in addressing all types of alternative care. We are proud to be the knowledge partner to the Churchill Fellowship, enabling international learning through its first fellowships in children’s social care. And the Coram Innovation Incubator, has advanced its work with partners in both the public and private sectors developing new solutions and building capacity for change.

Coram completed the largest ever Randomised Control Trial of Family Group Conferences for Foundations, the What Works Centre, whilst Coram International worked across 29 countries to build the legal framework for children, including the global guide to making digital safety laws for UNICEF. We look forward to the development of the Coram Institute for Children working to develop and inspire A Society That Cares.

As we set out the achievements of another extraordinary year against our seven strategic outcomes for children, we are eternally grateful to the Paul Hamlyn Foundation, the Pears Foundation, and to all the companies, trusts and individuals who support us. In addition our staff, volunteers and trustees have all worked tirelessly to achieve our goals and we are proud to have been recognised as an Investors in People Gold Award organisation.

Together we shall not rest until every child has the best possible chance in life.

Sir David Bell President and Chairman

Dr Carol Homden CBE Group Chief Executive

Analysis of the costs and insufficiency of childcare produced by Coram Family and Childcare has informed parliamentarians and policy makers of the acute issues for families as the impact of the cost of living crisis has become ever more evident.

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Trustee’s Report | 31 March 2023

The Trustees present their statutory report together with the audited accounts of The Thomas Coram Foundation for Children (known as Coram) and its subsidiary undertakings for the year ended 31 March 2023.

The accounts have been prepared in accordance with the accounting policies set out on pages 51 to 58 of the attached accounts and comply with the charity’s founding documents (Royal Charter and Acts of Parliament), 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 United Kingdom and Republic of Ireland (FRS 102).

Scope of consolidation

The Group accounts include the accounts of Coram together with those of its seven subsidiaries.

Coram is the sole member of:

In addition:

  1. Coram is the 75% majority member of Coram Life Education (charity registration number 800727) (from 1 July 2009.)

  2. Coram Life Education is the sole member of Coram Life Education Trading Limited (company number 09146751 (England and Wales)) (incorporated on 24 July 2014 and trading from 1 September 2014).

In 1998, Coram established The Foundling Museum (charity registration number 1071167), to display the Coram Collection in the Coram premises of 40 Brunswick Square under long term agreements. Further details are provided in note 37 to the accounts.

Our Mission and Vision

The Coram Group has a vision that all children should have the best possible start in life. Our mission is to develop, deliver and promote best practice in the rights and welfare of children and young people. We achieve this by direct delivery of children’s services including adoption and fostering, by promoting access to justice, by advocacy

for children dependent upon state support, by championing and enabling entitlement in the early years, by supporting schools to develop children’s skills for life, by advancing national systems, practice development and membership services, and by informing public policy and understanding.

Corporate Strategy

In the course of the year, Trustees have further pursued the defined strategic goals for children addressing the inconsistency, inequality and injustice which determines children’s chances in life at individual, sectoral and societal levels.

Coram will create better chances for children now and forever by championing and securing:

  1. A fair chance in life, so that children can realise their rights and entitlements and get access to justice

  2. A loving home , so that children have the stable loving homes, therapy, relationships and care they need

  3. A voice that’s heard , in decisions that matter in children’s lives and services that support them

  4. A chance to shine , giving children creative opportunity to build confidence, identity and social equity

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  1. Skills for the future, so that children feel empowered with skills and aspirations and to make positive decisions

  2. No matter where , so that children have equal access to consistent best practice and support

  3. A society that cares, through policy and legal reform informed by evidence and public at udes that support children’s rights and welfare.

To achieve these outcomes for children we work from infancy to independence, in universal as well as targeted approaches and across the domains of health, education, family and law in order to:

Recovery after the pandemic, particularly the return to school, meant that the number of direct beneficiaries was restored to 141,113 (up from 105,282) children, young people and carers with some 574,000 children – higher than 201920 – benefitting from our SCARF curriculum for personal, social and health education through schools. There were some 3,225,982 downloads of digital information and advice whilst levels of reach to professionals and memberships were sustained.

All parts of the Coram Group contribute to our seven strategic outcomes for children which are explained and explored in this report.

Help more children and help children more through sustained and sustainable delivery of direct and indirect services in our operational areas featuring cross group programmes addressed to educational exclusion, to connections and identity, and to young people’s social contribution; and

Operational overview

In 2022-23, the Coram Group provided benefit to more than one million individuals and users through a range of digital and telephone advice, curriculum and school resources, professional training and guidance, as well as direct support services to children and families across the UK. We worked in 49 countries to assess and advance children’s rights and published more than 30 policy, research and practice publications.

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A FAIR CHANCE

Securing access to justice and legal advice for children and young people has never been more important as the availability of legal advice and representation has been challenged nationally and the Illegal Migration Bill presented new issues for children and families.

Coram Children’s Legal Centre has continued to be the country’s leading provider of specialist legal support for children and young people across education, community care, family and immigration law with sustained national recognition of its achievements in audit and awards.

The Legal Practice was recognised with 29 points of excellence in its LEXCEL audits with congratulations recorded as follows

We were proud to be the Baker McKenzie Charity of the year and to receive additional support from Children in Need, the Paul Hamlyn Foundation and Pears Foundation in particular.

Legal advice and information

The Child Law Advice Service (CLAS) fulfilled its requirements under contract to the Department for Education, providing direct advice to just over 16,247 telephone and email enquirers, and its legally assured information at childlawadvice.org. uk was downloaded 1,870,000 times. In the course of the year, a contract extension was awarded and future operation to 31st March 2025 has been supported by a grant from the Department for Education.

Access to service was maintained under a contract extension, despite the challenges to recruitment in the context of full employment and inflationary pressures. Levels of enquiries about school attendance increased alongside the number of calls featuring domestic abuse.

Evaluation of the service has shown that 94% of users – none of whom had access to a solicitor – had a better understanding of their legal position and were better placed to take forward their case as a result of the free advice.

The Child Law website was updated and the reestablished engagement of university volunteers following the pandemic has enabled the development of further email and web chat and call back access, as well as building pathways for entry into family and education law.

In addition, 158,558 unique users accessed the Law Stuff website, providing information for young people and in the coming year, there will be further development of the schoolexclusionshub.org.uk as a national resource for young people and families, following the transfer of this service from Just for Kids Law in August 2023.

Legal Practice

The Legal Practice continued to deliver specialist casework to clients with complex legal problems across community care, family, immigration and education law, supported by our online hosted case management system increasing its case volume by 12% to help children and young people to access to access the support to which they are entitled.

We responded to the request from the Legal Aid Agency to increase the percentage of the national CLA contract to support education law cases. This was challenging to deliver in the face of the slowdown in the consideration of cases by the Tribunal, but achieved significant results for children like Rainah who is autistic and was non-verbal until the age of five:

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After the local authority failed to place Rainah in a specialist school for more than a year, the Coram team intervened to secure the place to which she was entitled. Her father Ed McCarthy says:

“Rainah’s speech has astounded everyone, particularly how quickly it is continuing to develop. Her reading is also light years ahead of where it was and her social interaction has also noticeably improved. We cannot thank CCLC enough for the professional and empathetic way in which the whole team dealt with Rainah’s appeal.”

The personal accounts in our impact report included the story of Anthony, who was adopted through Coram at the age of 20 months and is now a postgraduate student, who developed a display and exploration of identity for adopted young people living in blended families.

This year Qaisar Sheikh, head of Education Law, was recognised as the 2022 Legal Aid Lawyer of the Year and also went on to be heralded as a 2023 Legal Hero for his championship of Legal Aid. Qaisar has contributed to the successful extension of the ground breaking Fair Chance programme with the Clement James Centre supported by the Royal Borough of Kensington and Chelsea. This uniquely combines specialist legal advice with Coram’s therapeutic assessment for families with children at risk of school exclusion and we are now working to replicate this model in the coming year

The combination of delays in the courts and growth in the Practice means that sustaining these levels will need careful management in the face of the Work in Practice cash flow requirements which constrain further development and we are particularly grateful to Paul Hamlyn Foundation, Ajaz.org, Children in Need for their support and to the funders who are supporting work transferred from Just for Kids Law to ensure that young people in crisis get their legal advice and representation they need.

In the face of unprecedented demand and to achieve this end for children in resolving their immigration status, the Legal Practice also worked with more than 250 pro bono volunteers to maximise access to justice for these cases, delivering a value of more than £1.5m in donated time and with a success rate of 97% for applications made.

This year, for example, we brought an important strategic judicial review to challenge the policy which meant a vulnerable, traumatised pregnant Afghan woman and her child would have had to make a dangerous journey to Pakistan to register their biometrics prior to even submitting an application for family reunion with her refugee husband in the UK. The policy and lack of sufficient discretion to waive the requirement in compelling circumstances was found unlawful, a precedent setting judgement for other cases.

Migrant Children’s Programme

In addition, the Migrant Children’s Programme (MCP) provided further specialist advice and policy further activities to promote the rights of children and young people affected by UK immigration control.

During 2022/23, CCLC supported 923 children, young people, parents and carers though its immigration legal advice line, outreach immigration legal sessions and immigration legal workshops, helping them to understand their situation, their rights and the way forward.

The immigration outreach legal advice sessions ensured legal advice was accessed by those who would otherwise not access it, and CCLC worked with partner organisations including migrant support centres, primary schools, homelessness services and youth groups.

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The advice line continues to be the only resource of its kind supporting non-legal professionals to understand and deal with the complex immigration, asylum and nationality legal frameworks that determine the experiences and outcomes of the children and young people they support.

Training was provided to local authorities across London to support them in resolving the immigration issues of children in care, including those at risk of losing their right to remain following the deadline of the EU Settlement Scheme.

In addition, the Young Citizens group provided peer led training and support to other young people through colleges and the Migrant Children’s Project provided proactive briefings to inform parliamentarians, including hosting an event with young people in the House of Lords to inform the debates on the impact on children’s rights of the Illegal Migration Bill.

“By coming to Parliament and meeting with Peers, I want to help make sure we are being heard. This is not the time to sit in a room and contemplate on what needs to be done – as young people and refugees we know what is needed and I believe our arguments are valid and should not go unheard.” Amina, Coram Young Citizens ambassador

CCLC has continued to be a leading policy voice on the rights of refugee and migrant children and has continued to co-chair the sector consortium coordinating work on these issues, the Refugee and Migrant Children’s Consortium.

International children’s rights

This year Coram International provided consultancy services to INGOs and Governments in 48 countries worldwide: from Armenia, and the 10 ASEAN countries (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam), to Tajikistan, Uzbekistan and Zimbabwe.

The team continues to hold preferred status as consultants to the UNICEF Headquarters in New York, as technical assistance consultants to the UNICEF Europe and Central Asia Regional Office to conduct Country Programme and Thematic Evaluations and to provide technical support for results-based management to the UNICEF East

Asia and Pacific Regional Office and as consultants for carrying out situation analyses to the UNICEF Headquarters and seven regional offices.

There was a full return to international travel after the pandemic and the year included conducting a study for UNICEF ROSA to understand the impact of Covid-19 on child marriage determinants in South Asia. This year also saw the completion of a regional situation analysis on the situation of children affected by migration in ASEAN member states for UNICEF EAPRO. The project was designed to develop the understanding of the nature and scale at which children from Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam are affected by Migration. As well as producing a regional report for the East Asia and Pacific Regional Office, the team undertook case studies in seven countries, conducted a legal review of current legislation in the region, and produced policy briefs. This work will support the implementation of the recently adopted ASEAN Declaration on the Rights of Children in the Context of Migration.

An evaluation of UNICEF Cambodia’s child protection programme assessed the effectiveness of the programme headed by the Royal Government of Cambodia and UNICEF Cambodia to assess relevance, effectiveness, efficiency and sustainability at national and sub-national level. Recommendations were provided for strengthening UNICEF’s strategies, programme interventions and building greater partnerships for protecting children in Cambodia, aligned with the global Child Protection Strategy and Strategic Plan and these will inform the next UNICEF Country Programme.

In addition, Coram International worked with the Government of Cambodia under a contract with UNICEF Cambodia to draft a new Child Protection Law. The Law has now completed the drafting stage and is ready for review by the Council of Jurists before being submitted to the Council of Ministers and then to the legislature, helping to create A Society That Cares.

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A LOVING HOME

In 2022-23, Coram continued to play a key role at local, regional and national level in adoption, fostering and kinship family support through the delivery of adoption agency functions, policy contribution and delivery of national infrastructure. This came at a time when the number of adoption placement orders continued to fall nationally, adversely affecting the viability of the voluntary adoption sector in particular.

Coram Adoption

Coram’s voluntary adoption agency, which celebrated its 50th anniversary, was rated ‘outstanding’ by Ofsted in 2022 even as it experienced significant pressures from this national shortfall.

This year 42 children found new loving homes with Coram adopters, and 1,007 children, young people and families were helped directly. There continues to be a strong focus on meeting the needs of the children waiting and we now dually approve adopters as foster carers to enable them to foster first where appropriate for children in proceedings, unless they withdraw from that process.

“We did quite a lot of reading around child development and the importance of the early years and decided that early permanence would be right for us. We really wanted to influence and support a child from as early as possible in life…. You hear from other adopters that they’ve tried four or five agencies but for us Coram felt really natural and right straight away.”

David and Marwan, who adopted Leila aged 8 months

In the coming year, a new outreach worker will develop further links and relationships across diverse communities in the capital and will sustain the programme of activity days matched to the needs of children, whilst working to explore their benefit for sibling liaison and working to ensure the appropriate match of capacity to meet the level of planned placements.

We continued to provide the adoption services for nine local authorities across London and Slough and were proud to receive the national quality mark in early permanence. Innovation in practice included the development of the new Step Up approach to find loving homes for children waiting the longest, by combining active family finding with the use of Activity Days which continued to provide a unique national matching service across England, supporting some 400 children and with around one in four securing the loving home they need.

“The Activity Days are invaluable in getting children placed, particularly children who may be harder to place. We have also used the Activity Days for a chemistry meeting, which proved hugely successful in keeping a sibling group together.”

Mark Clearly, Regional Adoption Agency for Merseyside

National role

Coram-I was recommissioned by the Department for Education to provide secretariat and data services, despite the ending of the Adoption and Special Guardianship Leadership board, extending its remit to help address the development of kinship data and policy. Tracking the trends and reporting back to the sector, it is now clear that the coming year will see a shortage of adopters begin to develop and children waiting longer unless there is a step change.

Coram continues to play a unique role with 23,392 prospective adopters having utilised our resources via First4Adoption.org.uk to find their agency with the majority of those in assessment in England benefitting from the First Steps e-learning materials as part of their journey.

Intercountry adoption

Around 60 children each year from other countries are supported to join the loving family they need in the UK. It is to ensure that the specialist expertise and advice needed to achieve this complex process continues to be available that we were proud to welcome the Intercountry Adoption Centre to the Coram group on 1st July 2023.

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Celebrating a Lifetime of Difference

On our Charter Day of 17th October and to mark National Adoption Week in 2022, James O’Brien of LBC Radio, who was himself adopted 50 years ago, launched our new impact report looking at the progress of Coram Adoption through five decades. The event heard from Coram Adoption, Rt Hon David Lammy MP, Edward Timpson MP – the former Minister for Children and Families – and was bursting with the stories and connections of adopted families through the decades.

The personal accounts in our impact report included the story of Anthony, who was adopted through Coram at the age of 20 months and is now a postgraduate student, who developed a display and exploration of identity for adopted young people living in blended families.

In the coming year, Coram will work with Anthony and the adopted young people of In- Between Lines to bring their exhibition and discussions to London and into the professional realm of adoption agencies so that adoption support can be developed to meet the needs of the diverse group of children for the future

Creative therapy and family support

Our support for adoptive parents features specialist approaches for the adoptive parents at the different stages of a child’s development including the STOP programme for the teenage years, and the Incredible Years programme for children aged 5+.

Further support is provided by our Centre for Creative Therapies to special guardianship carers with case formulation and direct art, music and systemic family therapy for children who have experienced adverse childhood experiences in the community including through the Adoption and Special Guardianship Support Fund.

Parent whose children were supported by Coram Creative Therapy Centre

Anthony, a 23-year-old postgraduate student who also ran the marathon for Coram.

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Overall, we increased the reach of therapeutic support by 39%, extending our work in Camden Schools, which was recommissioned by the Local Authority, into Lambeth with the support of the South London and Maudsley Hospital and Well Centre partners.

of Contemporary Music and Performance and advance relational therapy solutions with families facing adversity under the Department of Work and Pensions’ Reducing Parental Conflict programme, just one of the many innovations being fostered by Coram and its Innovation Incubator.

In the coming year, we will pioneer the use of song writing workshops with the Institute

NO MATTER WHERE

The Coram Innovation Incubator – supported by Microsoft, EY and PA Consulting – worked with member local authorities to identify and address the challenges faced in children’s social care. This year we published the Innovation Collective report as a digest of development across the country and launched the first Innovation Inset programme for children’s social care.

In the coming year we will advance innovation projects on access to care records, social worker retention and foster care capacity and welcome new Kindred members including Barnardo’s and Grosvenor in building capacity for innovation.

‘With the challenges for children and families continuing to grow, it is crucial that we embrace change and innovation in children’s social care. Hertfordshire is delighted to be part of the Coram Innovation Incubator helping to drive the change we need, building on our strengths and learning from others’.

Jo Fisher, Executive Director for Children’s Services, Hertfordshire County Council

We were honoured to be the knowledge partner to the Churchill Fellowship – supported by the Hadley Trust – in supporting 30 Fellows over the coming three years to explore international practice and develop plans to improve the lives of children and young people with experience of care, and even more proud that two of the first Fellows awarded are part of the Coram community.

UK Community of practice

CoramBAAF is a multi-disciplinary membership organisation leading the way in improving outcomes for children and young people in care no

matter where in the UK they live by supporting the agencies and organisations that work with them. This year was characterised by an increase in both reach and engagement to inform, educate and inspire children’s services professionals.

Every local authority accessed one or more of our services and we are proud to partner with AFA Cymru and AFA Scotland and to work with all five Health and Social Care Boards across Northern Ireland. In the last year we reached 54,206 professionals across the UK community of practice.

CoramBAAF’s Adoption & Fostering Digest continues to be a highly-valued monthly UKwide briefing for everyone working in adoption, fostering and child welfare, and we published three good practice guides and four books. Dr Dennis Golm, Lecturer in Psychology at the Centre for Innovation in Mental Health at the University of Southampton became the new Editor in Chief of our quarterly Adoption and Fostering Journal.

The national training programme featured the delivery of early permanence practice for Regional Adoption Agencies and innovations included Writing About Children , recognising how language can impact on a child’s journey.

Calls to our specialist help line grew by 13%. What sets this service apart is the expert advice available from our in-house legal and health consultants, as well as our specialists in fostering, adoption and kinship care providing a distinctive multi-disciplinary support in the face of growing complexity of social work case work.

A new advisory forum on kinship care was formed, reflecting the importance of practice and policy development to support children in families and consultants facilitated and led regional adoption and fostering practice forums in Southern England, Yorkshire and Humberside, North East England, North West England, and Northern Ireland. There

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were additional forums for Adoption Panel Chairs, Panel Advisers, health professionals in London and Southern England, and black workers in Northern and Southern England.

CoramBAAF represented our members on the Adoption and Special Guardianship Leadership Board, the National Adopter Recruitment Campaign, the Kinship Care Alliance, the Children in Care Alliance, and Dr John Simmonds contributed to the UK Trauma Council and the Public Law Working Group.

In the coming year, we shall focus on kinship care for Members’ Week, and work to inform the development of guidance and implementation of the Independent Review of Children’s Social Care, as well as the recommendations on modernization of adoption and contact arrangements in particular.

Increasing access to childcare

Coram Family and Childcare (CFC) supports the National Association of Family Information Services across the country and trains Parent Champions to improve take up of early years’ entitlements amongst marginalised communities. This year 274 volunteers reached almost 30,000 parents increasing take up of at least one new entitlement or service by 75% and two Parent Champions joined the board of the organisation to get their voices heard in planning for the future. Parent Champions are not only experts at reaching families who services typically struggle to reach, but they also are experts at listening to and understanding families’ wants, needs and strengths. As part of our Family Hubs model, we will train the parent volunteers to use this insight to improve services through sitting on Parent Panels.

This year we have been supporting Parent Champions to use their knowledge to bring about systemic change through our Parent Champions for Better Childcare project, where we have supported Parent Champions to set up local campaign groups to bring about change on the issues that matter to them.

The annual Parent Champions awards recognise the achievement of local groups and Parent Champions, celebrating the support to communities from Carmarthenshire and Camden, from Coventry to Croydon, and the personal development in skills and confidence they achieve

We now have four Welsh schemes and in the coming year hope to establish more Parent Champions group further to help meet the needs of disadvantaged children and communities in Wales as well as expanding further in England.

In publishing its 22nd Childcare Survey Coram Family and Childcare helped set the agenda for a nationwide debate on the cost and insufficiency of the nation’s childcare sector in the lead up to the Budget and the Chancellor’s announcement of reforms to the system.

The fact that only half of local authority areas report having sufficient places for children under two secured national media coverage and was the top story on the BBC News.

During the year, partnership working with Hempsall Consultancies Ltd deepened with joint work to act as the Department for Education’s Early Years Foundation Stage Engagement Partner. This involves running the Foundation Years platform, including managing the website, social media accounts, newsletter and news flashes and running face to face and online events.

CFC was also subcontracted by Hempsall’s to support delivery of their Early Years Covid Recovery Programme Experts and Mentors programme. CFC’s role has focused on evaluation of the training offered by Hempsall’s to allow for ongoing improvements to be made.

We are delighted that this joint working and shared commitment to building the capacity of the sector has formed the basis for the organisation to join the Coram Group in autumn 2023.

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A VOICE THAT’S HEARD

The numbers of children in care, care leavers and children on the edges of care continues to rise. Between 2021 and 2022 the number of children in care rose by 1.6% to 82,170 with an estimated 75,850 young people classified as care leavers aged 18-21 and a further 404,310 needing some support from children’s services. [1]

A Voice That’s Heard

The care system exists to improve lives and should be a positive experience. For many it is, but for an increasing number the very system that is there to protect them lets them down. The complexities and inconsistencies of the system mean that – unaware of their rights and unsure who to turn to – many struggle to access support they are legally entitled to such as safe housing, benefits, education or advice and the stability and relationships they need to thrive in adult life. As noted by the Independent Review of Children’s Social Care (2022)

Coram Voice aims to address these issues by listening to children and young people’s individual and collective experiences and work alongside them to address the issues that are important to them.

In 2022-23, Coram Voice has provided direct support to 8,800 children and young people, with a total of 17,337 children and young people supported through our direct engagements, website and digital information. This increase from 15,912 in the previous year both substantially exceeded our target and demonstrates further the acute need for our work.

Our Always Heard national advocacy advice line, accredited by the Helpline Partnership, made 9,137 referrals (an increase from 8,607 in 2021-22) to local advocacy services ensuring that children received the advocacy support they needed. We provided advocacy to 1,830 children and young people from 126 local authorities to get the help they needed to resolve challenges in safety,

housing, and access to leaving care entitlements and gave intensive Safety Net advocacy support to 653 (2021-22-628) children who without us would not have accessed the advocacy to which they were entitled.

In addition, local advocacy services were provided in 17 areas and Independent Visitor support for children in care in 12 areas along with Visiting Advocacy support to 20 residential settings.

Some of the young people most at risk are those facing homelessness and Coram Voice expanded outreach young people and care leavers in the Greater Manchester Authorities as well as London supporting 250 young people this year to avoid homelessness. This work for young people in crisis will now expand further with the transfer of advocacy services from Just for Kids Law on 1st August 2023.

Promoting Bright Spots

Coram Voice’s Bright Spots survey, the national survey of children in and leaving care, continues to be instrumental in informing policy and practice on what is important to children and young people in improving their wellbeing.

More than 23,000 children and young people in England have now participated and this year 16 local authorities participated in the surveys to identify what matters most to children in care and young people leaving care and to develop service improvements.

The 10,000 Voices report, published jointly with the University of Oxford, summarised the responses from children and young people aged 4 to 18 from 2016-21 giving unprecedented insight into the views of what makes life good for young people in and beyond the care system. Whilst 83% feel life is better, the experiences are varied by age of entry into care and the number of moves experienced, for example.

1 https://explore-education-statistics.service.gov.uk/find-statistics/children-looked-after-in-englandincluding-adoptions/2022

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“While there is good in the system, it is shocking that today there are still the same issues for children and young people in care that there were decades ago. So often they don’t feel safe.”

Rachel Malik, care-experienced trustee of Coram Voice

A further analysis of the views and experiences of 1,200 children and young people in kinship foster care in 38 local authorities was the first of its kind and found that, on a number of metrics, children and young people in kinship foster care were doing as well or better as those in unrelated foster care.

A National Voice made its own further recommendations on the need for an “optout” rather than “opt-in” model of independent advocacy and for proper funding to enable all local authorities to apply a legal duty to an Independent Visitor or befriending service up to the age of 25 and, finally, that care-experience be made a protected characteristic.

To further amplify young people’s voices, following the Government response to the Care Review- Stable Homes Built on Love 7 children’s charities joined forces with care experienced young people, to deliver the It’s Our Care campaign.

Service improvement

Our Staying Connected report on the views of looked after children and young people on their contact arrangements. We were delighted to see the impact our work has had on the independent Review of Children’s Social Care and the recognition of the importance of stable relationships for children and young people.

We completed our New Belongings work with local authorities and care leavers co-producing improvements to local services. The presentations and recordings are available on ( the New Belongings webpage ) and we published a fnal evaluaton report on the progress made by local authorities in implementing the model and its impact.

Future of Care

A National Voice, the national children in care council, is run by 24 care experienced ambassadors and was this year commissioned to conduct a national consultation on young people’s views as part of the Independent Review of Children’s Social Care.

From this, four key themes emerged:

  1. that children’s services should be designed with children and young people;

  2. that children and young people should have the same support irrespective of post code;

  3. that young people need to feel safe and be supported to have fun; and

  4. that trusted adults and well trained professionals are key.

We have utilised this approach to develop a pilot project to develop local responses to support children to stay connected with the people who are important to them and are working with three local authorities over a period of six months using their Bright Spots findings, learning from the staying connected report and focusing on coproduction.

Thanks to the ongoing support of the Hadley Trust, more than 100 practice examples, reports, videos, webinars, blogs and other resources showcasing learning from the Bright Spots programme are now available through a dedicated Resource Bank at Bright Spots Resource Hub.

In the coming year, we will consult on the implementation plan – Stable Homes Built on Love – published by the government and work to pilot the extension of Independent Visitor services for care leavers.

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A CHANCE TO SHINE

Coram creates opportunities for children and young people to feel proud of who they are, and to enrich their lives and develop skills through creative programmes.

The Voices national writing competition is the only one dedicated to children in care and care leavers and the awards ceremony was back in person. The theme of “This is me…” was chosen by young people and the event was hosted by Peter Capaldi and our previous winner Sophia Hall.

The winner of the previous upper secondary award was Sarah (aged 14) who presented her winning work to Her Majesty Queen Camilla during her visit in February 2023

Caught on a ride I didn’t want to be on A rollercoaster that never ended A carousel that never stopped spinning I didn’t have a choice I came off the ride with my head held high Warm loving hands reached out for me I’m not alone anymore Them and Me Family Boats floating peacefully I didn’t have a choice But if I did I would choose you Because you chose me To be free.

The Voices 2023 writing competition will be launched in September 2023 and we plan to hold an in person award ceremony in February 2024.

Story of Care: Voices through Time

Thanks to the support of the National Lottery Heritage Fund, Coram is engaged in a major four year programme to digitise a substantial part of our historic Foundling Hospital archive and to work with young people and partners on creative projects to change the narrative of care for the future.

This year, 3,000 volunteers transcribed 15,911 pages of records which were researched by our Story of Interest young people, tracing hidden stories from care in the 18th and 19th Century and informing the creation of the first documentary on the story of the Foundling Hospital.

No Place Like Home forms part of the Bloomsbury Festival in 2023 and will be followed by the development of a theatre script to bring the modern story of care to life.

This was complemented by Tiny Traces , the special exhibition by the Foundling Museum – which displays Coram’s historic art collection – examining the archive records of Asian and African children, and Finding Family , its first exhibition co-created with care-experienced young people.

Coram Society enables public discussion of the themes and issues affecting children in the past, present and future and this year marked the new edition of London’s Forgotten Children: Thomas Coram and the Foundling Hospital by Dame Gillian Pugh, and presented new research by Dr Kate Gibson on the role of the Nurses to the children in its residential care.

The modern history was showcased in the new display on This Coram Century exploring the pioneering role of the organisation in developments since the appointment of the first women governors in 1922 when the first film production of Oliver Twist was premiered for the children of the Foundling Hospital.

In June 2022, the Old Coram Association held its final Coram Day, drawing to a close its 75 years of service to the former pupils. These records will form part of the living archive at the heart of the Coram Story Centre, planned to open in 2025 with the release of our digital archive.

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Our annual Theatre Festival saw an increase in school participation of 52%, the biggest margin in over a decade. For the first time this flagship programme was run across two phases, allowing us to partner with 58 theatres and venues across the UK.

Taking centre stage with Coram Shakespeare Schools Foundation

For many pupils in the UK, a disadvantaged start in life means a cycle of low academic achievement, ambition and aspiration. Research from the Education Policy Institute has shown [2] that the disadvantage gap – the gap in GCSE grades between students on free school meals and their better off peers – has failed to improve in over a decade.

More than 9,000 pupils from 373 schools performing an abridged Shakespeare production on their local professional stage during the autumn and spring terms. 41% were mission priority schools in areas of disadvantage or providing SEND or alternative provision. Together they explored the full spectrum of emption from killer kings to star-cross’d lovers.

Arts participation arts at school improves children’s life chances by building social and emotional capital [3] . Children with special educational needs and disabilities (SEND) are also much less likely to access these life changing opportunities. Children from disadvantaged backgrounds who access the arts are three times more likely to get a degree and 20% more likely to vote.

The hands-on approach encourages pupils from upper primary to further education to stretch themselves, boost life skills and know that the world can be their stage affording the only national platform for children and young people from all backgrounds and abilities to stand together on a professional stage as a new world opens before their eyes.

During 2022/23, 10,684 pupils from 485 primary, secondary and SEND schools were given the chance to shine and develop their skills and confidence across Coram Shakespeare Schools Foundation’s programmes.

“To see my own class on stage, brimming with self-confidence was one of the proudest moments of my teaching life. Thank you for reminding me why I wanted to become a teacher in the first place. I can’t think of many opportunities offered to primary school children that give them the chance to be treated with such respect by adults, and the chance to show just how good they can be if adults believe in them.”

Laura Mitchell, Teacher-Director, Pollokshields Primary School, Glasgow

Shakespeare is a fundamental part of our cultural heritage. By encountering his work through drama children have the chance to discover his language, spoken and heard, and to explore how the themes raised by the plays have relevance to their own lives and the world around them providing an opportunity for them to be proud of who they are and what they can achieve.

In addition, the final cohort of schools taking part in ‘Off-Grid Shakespeare’ , which is supported by Esmée Fairburn Foundation, transported our practice, workshops and training to rural Primary Schools in Keighley, North Yorkshire who might not otherwise have access.

The second CSSF Film Festival took place in the autumn term in partnership with Into Film. The programme saw entries from 24 schools whose pupils led the movie-making process from start to finish – plotting, shooting and editing their own thrilling Shakespeare short films.

There is a clear link between participation in high-quality arts activity and increased levels of wellbeing [4] and at a time when children in the UK reported feeling isolated, an increase in concern for the future, and decreased levels of wellbeing [5] this has never been more important.

4 ‘Creative Health: The Arts for Health and Wellbeing – Second Edition’, All-Party Parliamentary Group on Arts, Health and Wellbeing (2017)

5 ‘Understanding the impact of Covid-19 on children and young people’, BBC Children in Need (July 2020)

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Our standalone workshop practice continues to develop and broaden with both young people and professionals. We ran 29 workshop sessions across the year, including every pupil at Sybil Elgar Post-16 Autism Specialist School, a National Autistic Society Academy in West London and our popular Play in a Day sessions with schools across England.

Our profound thanks go to the Arts Council Culture Recovery Fund for supporting us in securing and advancing the opportunities that children and young people so desperately need, to all 485 teacher-directors in hundreds of schools across the country and to all the supporters and The Childhood Trust who contributed to The Big Give to make it possible.

SKILLS FOR THE FUTURE

Readiness for school is a vital factor in children’s future learning success, but for all too many a slow start in the development of language and reading skills means they require particular support. For those who have additional needs or live with risk, a whole school approach to wellbeing and to building social, emotional and cultural capital is essential. It is to these ends, that Coram’s education services are dedicated so that children can gain the skills they need for the future.

The closure and disruption to schools in the pandemic had made it profoundly challenging to support the very children who needed it most but 2022-23 has been characterised by increased reach to higher levels than pre-pandemic 2019-20. We also celebrated 50 years of Coram Beanstalk with a visit by the Patron, Her Majesty Queen Camilla.

Creating readers

During 2022-23, the reach of Coram Beanstalk’s primary school reading volunteer programme grew by 4.5% with 5,043 children supported by 1,681 trained reading helpers in 689 partner schools.

Funding from The Pears Foundation (connected to the DCMS Volunteering Futures Fund) enabled us to respond to changes in the volunteering landscape, and research conducted into the impact of weekly support has allowed us to develop our primary school programme with a focus on future sustainability. We now work with our new school partners to raise awareness through their

In the coming year, we will undertake a literature review on the outcomes of creative programmes for young people and work with Newcastle University to undertake further evaluation of our own programme on young people’s skills, confidence and wellbeing. We will also deliver the only celebration produced by and with young people for the 400th anniversary of the publication of Shakespeare’s First Folio in November 2023.

strong community networks and have reduced our minimum volunteer commitment to once a week. This has seen diversification within our volunteer pool through appealing to a younger demographic.

The past year has allowed the organisation to learn and stabilise giving a solid foundation for growth as we move forward into 2023-24 thanks notably to the outstanding support of The Very Group who hosted a charity ball in aid of our work in December 2022, and a most generous donation from a charitable trust recognising our Patron’s Accession.

With schools, we target our support to the bottom 20% of children reading below age-related expectations supporting all children to become confident, fluent readers. Our average score for satisfaction with the support given is 9.5 out of 10. Schools value our in-person one-to-one support that adds capacity to their team and appreciate the book packs we provide that give children access to high quality texts from a range of authors and genres.

Data shows that schools are seeing improvements in reading attainment for the children we support with 80% showing improved reading resilience and 76% showing an improvement in comprehension skills. Feedback evidence shows that 97% of

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children make positive progress against age related reading expectations and 97% also gain an improved at ude to learning, confidence and self-esteem. Children make clear every day the difference that is being made for them from feeling special and becoming confident readers

“Reading helps me to believe in my abilities and feel confident.”

“I have a little smile but whenever I read, my smile grows like a Beanstalk.”

The benefits extend however for the whole child, the whole school and for a lifetime with 95% showing improved overall wellbeing, and 84% improving behaviour and schools able to benefit from a 3:1 return on their contribution. 98% say that working with Coram Beanstalk brings value to the school.

“We’re in a climate where the budget is being pinched more and more and having organisations like yourself come in and offer support to our children is invaluable, so thank you so much.”

Gospel Oak Primary School

Academic evidence from the University of Cambridge in July 2023 stated that “Reading for pleasure in early childhood is linked with better scores on comprehension, cognition assessments and better educational attainment in young adolescence. It was also associated with fewer mental health problems and less time spent on electronic devices.”

“Having Jill was one of the best things that ever happened to me, still to this day I’m very grateful for having her. She opened my world to new adventures”.

Jade Kadejoh who was struggling with dyslexia aged 9 when she was linked with a Beanstalk reading volunteer, and is now studying at University.

Volunteer experience

In the last year 1,691 people aged 17 to 94 have supported children as volunteer reading helpers and 98% would recommend the experience to others.

“Volunteering with Coram Beanstalk has been one of the best things I have done… It is such a privilege to be able to spread the joy of reading and seeing the children grow in confidence and feel I have played a small part in that is enriching beyond measure.”

Chloe Lewis, Wandsworth

A volunteer with Coram Beanstalk benefits from excellent initial training, ongoing support via monthly updates, access to an online resource portal, regular learning and development opportunities, author talks and a network of inperson peer to peer support led by our Volunteer Champions. This year we have added a chat forum feature to our online portal allowing volunteers to share experiences and seek support from both the staff team and other active reading helpers. It is this volunteer support and the dedicated face to face support for children that sets us apart from others in the field.

“It’s so nice to be appreciated and know that my work in school is having a positive effect. I love working for Coram Beanstalk. My role as a Reading Helper brings me great pleasure as well as the pleasure it gives the children. Long may we continue creating readers!”

Developing reading leaders

Despite all of this, evidence shows that 1 in 4 children enter secondary school with reading skills that fall short of the level needed to thrive in the more advanced curriculum.

We have therefore reviewed and improved our Reading Leaders programme to help address this by delivering training online to groups of sixth form students to enable them to support their younger peers and to gain recognition for their own career development through the Duke of Edinburgh Award.

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During the year 226 KS4/5 students have gone on to deliver one-to-one sessions to 252 KS3 pupils creating a virtuous circle of community cohesion, aspiration and achievement.

Reading Leader, Bradford Academy

In the coming year we will further expand the Reading Leaders programme across 17 Lancashire schools offering fully funded courses for 3 consecutive years and enabling us to examine evidence of a sustained approach to capacity building in schools.

Yewlands Academy

“It does make such a difference to read. You can escape into different worlds, you can laugh, you can cry, you can learn and it’s thanks to all of you that it’s happening for all these children, so thank you from the bottom of my heart.”

Her Majesty Queen Camilla

Delivering personal, social and health education

With schools working to address the mental health and wellbeing challenges, and non-attendance issues facing all too many children after the pandemic, Coram Life Education’s (CLE) support to their delivery of Personal, Social and Health Education has never been more needed.

Providing its extensive on-line SCARF curriculum and working with 20 delivery partners for direct in-school teaching, there was a 49% increase in children reached to 574,000 across England and Scotland in the last year, exceeding pre-pandemic levels of 2018-19 by 15%.

We were delighted that Head of Education Services, Jan Forshaw, was recognised with the award of MBE for her services to children through the pandemic and is continuing to drive innovation.

50 Years of Reading Results

We published a long-term impact report on our Reading Results showing that – over our first fifty years – more than 250,000 children have benefitted from 12 million volunteer hours, at a value of £131m to the school economy and celebrated the contribution of volunteers to creating better chances for children now and for their future.

In February 2023 we welcomed HM Queen Camilla to begin the celebrations of our 50th anniversary year with a showcase featuring children from the longest established partner school and meeting volunteers who have each supported more than 50 children.

New developments this year have included the launch of a toolkit of resources for teachers to use during Children’s Mental Health Week, including for Wear Your Scarf to School Day and increasing levels of support to teachers through Meet the Expert sessions delivered in conjunction with the Association of Child and Adolescent Mental Health.

“There was an excellent discussion with the children about how to look after their mental wellbeing which is extremely important for the children.” Hillingdon Primary Teacher

Teacher and school confidence in high quality ageappropriate resources is particularly vital if we are to ensure the appropriate teaching of statutory Relationships, Sex and Health Education (RSHE).

In response to school requests, we launched Coram SCARF for secondary schools, consisting of quality-assured PSHE lesson plans and resources created by us and by other organisations. Each lesson plan has been mapped to the DfE statutory requirements for both Relationships and Sex Education (RSE) and Health Education, saving

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schools time in finding the right resources that suit schools’ needs. Plans are underway to extend the resource from Years 7 and 8 to Year 9.

In the coming year we will launch early years resources on self-regulation with the support of the Education Endowment Fund, as well as new school assemblies and parent materials to enable all children to feel confident in maths with the support of TPICAP.

Some 52,000 teachers already benefit from the SCARF resources and appreciate the childinformed approach to the development of new approaches:

“We are genuinely proud to have developed such a strong partnership with Coram and SCARF, for the benefit of all of our Trust community – pupils, staff and parents. Developing this relationship has allowed our staff to have access to a high-quality resource, expert training and ongoing support but most importantly our pupils have had access to great learning opportunities and a sense of agency …. our children have been able to give direct feedback to the SCARF team, which has been listened to and acted upon. The power of this for young people is great – a sense of agency in their learning about themselves and others and being able to influence how this is delivered is amazing!” Health Improvement Lead, Multi Academy Trust, Gloucestershire

In the coming year, the new Wellbeing survey tool will enable schools better to tailor their curriculum to address children’s needs and enable them to develop skills for the future feeling able to make decisions.

In the coming year the relaunch of our in person master classes to stimulate/engage attainment for upper primary pupils across STEM subjects and through creative experiences.

Young people helping others

The HALO programme enables young people to help others whilst building their own skills as young ambassadors, co-trainers, peer researchers, helpline advisers and campaigners.

This year 865 young people aged 16-25 contributed to the cross group HALO programme providing Help, Advice and Legal Opportunity supported 8,867 others through their information and resources.

This included the Young Citizens programme of migrant young people, The Adoptable group of adopted young people, and A National Voice – the national care council but also many others supporting research and delivery.

“Young people often come up to me... and tell me that I have inspired them with my story and shown them that they can make the impossible possible... it makes me euphoric to see the positive impact I am making on people’s lives.”

Abdullahi, Young Citizens training volunteer, who has waited 8 years for resolution of his asylum claim and is now studying at University

In the coming year we will build further on the work of the Young Campaigners by launching new film materials to help tackle educational exclusion and help to build youth opportunities and a society that cares with the support of the Oak Foundation in particular.

Pathways to the future

CLE’s work has been complemented by the further piloting of Tomorrow’s Achievers Coding with Purpose for children in care (in partnership with South Bank University) and wider skills workshops to promote pathways to the future for young people leaving care in partnership with Microsoft.

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A SOCIETY THAT CARES

Throughout all of Coram’s work, we seek to turn insight into impact to inform policy makers and engage the public in the issues faced by children and the future of young people with a growing

presence as the only think tank for children and a convenor or discourse across sector boundaries. In 2022-23 we published more than 30 reports, books and practice publications.

Centre for Impact

Coram’s Impact and Evaluation team which is an evaluation partner to the What Works Centre, completed the Randomised Control Trial of Family Group Conferencing, the largest undertaken with more than 1500 participants.

Taking place with delivery partner Day Break across 20 areas, the programme reported on schedule and the report was launched with a special seminar by Foundations, the What Works Centre for Children’s Social Care.

The further Randomised Control Trail in relation to therapeutic life story intervention in the North East of England was also published and we provided a new analysis of the responses of children in care to Big Ask survey – the largest ever conducted, which was published by the Office of the Children’s Commissioner.

In the coming year we will be conducting a further RCT of Barnardo’s emotional wellbeing and mental health support model for foster carers in Hull and North East Lincolnshire.

As our work with universities grows, we formed a strategic partnership with the University of Newcastle’s Centre of Research Excellence in Children and Young People, and held a joint Future of Youth Forum addressing the impacts of poverty in the face of the shared level of 40% of children living in poverty in both the North East and London.

We were proud to give evidence and later host the launch of the Archbishops’ Commission on Families and Households report, Love Matters, and to host the launch of the Children England’s report on the Child Fair state. In the coming year we will work with Paul Lindley, author of Raising the Nation , and host the 50th birthday event of the Institute of Education’s Thomas Coram Research Unit and its new book on Social Research.

Leading public discourse for children

In all these ways Coram is advancing its vision to be recognised as the institute driving forward the discourse for children, acting as a media commentator and key informant in policy and practice.

We played a distinctive role in informing the Independent Review of Children’s Social Care and had an extensive ongoing presence also in sector and professional press including regular coverage in Children and Young People Now .

Key successes include multiple appearances on key broadcasting channels including the Today Programme, LBC and BBC News Website, and national newspapers. Diverse coverage included The Guardian, The Independent, the Daily Telegraph and Grazia magazine, with and extensive presence in National Adoption Week in particular.

In the coming year we will formally launch the development phase of the Coram Institute and publish our new Charter for Children to inspire a new deal for the next generation.

Convening support

Coram will continue to play a convening role within the children’s sector through multi-disciplinary forums, conferences, and through service on boards and committees.

Coram’s CEO Dr Carol Homden serves as Chair of Diabetes UK, which is launching its Health Inequalities Commission, whilst also serving as a trustee for the Association of Children and Adolescent Mental Health Services.

Sue Lowndes, Managing Director of Coram Adoption and Permanent Families was a member of the national Regional Adoption Agencies Leaders group and service on the recruitment task force alongside Dr John Simmonds, Director of Research, policy and development at CoramBAAF, who also contributed to the Public Law Outline working group.

Brigid Robinson, Managing Director of Coram Voice, chaired the Advocacy Consortium, and Policy Head Linda Briheim-Crookall co-chaired the Alliance for Looked After Children and Care Leavers and served on the Advisory Panel of the What Works Centre for children’s social care. Anita Hurrell co-chaired the Migrant and Refugee Children’s Consortium and Professor Dame Carolyn Hamilton served on the board of Springboard UK.

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Increasing support and partnership

In the course of the year, there was the gradual restoration of public and community events including the London Marathon and the concert Handel in the Salon . Our longstanding colleagues at Club Peloton returned to the road in their 1500km Cycle to Mipim and generous individuals supported Coram Shakespeare Schools Foundation in The Big Give.

We continued a multi-faceted partnership between Coram Beanstalk and the Very group, and the Hadley Trust continued its support of Coram Voice in championing the Bright Spots of care experience and extended its partnership to innovate in fostering with Coram-I.

Both the Paul Hamlyn Foundation and the Pears Foundation extended their support and thanks go to all the Trusts, businesses, individuals and Charter Patrons who supported us.

GOALS FOR 2023/24

Trustees have reviewed the strategic goals for the next ten-year period, laying out a strong vision for Coram as the Institute for Children, addressing the inconsistency, inequality and injustice which determines children’s chances in life by changing lives, laws and systems.

In the coming years, to realise our seven strategic outcomes for children we plan to:

“At Very, we believe every family deserves to get more out of life and working with Coram Beanstalk to improve children’s access to books, reading skills and confidence enables us to bring our purpose to life in a truly authentic way.”

Lauren Young, Culture and Communications Director, Very Group

We relaunched an updated www.coram-org. uk website reflecting the investment made in effective communications. We will continue to champion equality, diversity and inclusion in all that we do.

We were proud to be recognised for the third time as an Investors in People Gold Award organisation with particular recognition for leadership and inspiring people, living the organisation’s values and behaviours, empowering and involving people, building capability, delivering continuous improvement and creating sustainable success.

We will achieve this with a strong focus on the sufficiency and sustainability of local, regional and national delivery, by both cost management and advancement of further hybrid digital and direct delivery models and in 2023-24 we shall aim to:

Extend reach and approaches to build social, cultural equity with creative programmes of the Story of Care: Voices through Time , celebrate the national Shakespeare Schools Festival in theatres and the 400th anniversary of the publication of the First Folio, and develop the sustainable contribution of Coram Beanstalk to the work of schools in preparing children for life; and

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Public benefit

Coram has referred to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and future activities. Our achievements for the year are set out throughout this report and the Trustees have considered how Coram’s activities contribute to the aims and objectives they have set.

Governance, structure and management

Constitution

The Hospital for the Maintenance and Education of Exposed and Deserted Young Children was incorporated in 1739 by Royal Charter as amended by subsequent Acts of Parliament. The charity is registered as The Thomas Coram Foundation for Children (formerly The Foundling Hospital) and is now known as Coram.

Coram is led by a Board of Trustees which is chaired by Sir David Bell, who was appointed as President and Chairman in September 2015 and the charity operates in accordance with its Bye Laws which were last reviewed in June 2015. This review combined the role of Chairman of Trustees with that of President of the Court of Governors, whose role is to provide advice and to build support for the purposes and values of the charity.

See “Scope of consolidation” on page 5 of this report for details of subsidiaries during the year. Each charity has its own Board of Trustees with representatives from the Coram Trustee board on each and vice versa.

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Governing bodies

The governance structure of the charity is noted below:

----- Start of picture text -----
Board of
Court of
Trustees
Governors
(Members in post)
Coram Coram
Coram Coram
Coram Children’s Coram Coram Shakespeare
Life Family & CoramBAAF
Trading Legal Voice Beanstalk Schools
Education Childcare Centre Foundation
Campus Nominations Children’s
CLE Campaign Finance Investment & Audit
Trading Committee Development Committee Committee Governance Committee Services
Committee Group Committee
----- End of picture text -----

----- Start of picture text -----
Chief Executive
Managing Managing
Managing Managing Head of
Director Managing Directors
Director of Chief Director of Managing Director Coram
of Legal Director of of Coram-i,
Coram Voice Finance People & Director of Coram Shakespeare
& Youth Practice and Children’s Education and Wellbeing Officer Compliance Fundraising CoramBAAF and Coram Ambitious for Schools
Programmes Adoption Foundation
Rights International
----- End of picture text -----

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The Board operates standing committees (indicated above) and ad hoc committees where required. The Honorary officers (with co-opted members where appropriate) convene for any additional specialist areas such as Remuneration.

Trustees who served during the year together with those who have been appointed since the year end, and their subcommittee responsibilities, are as follows:

----- Start of picture text -----
General Committee Changes/Role Sub-
(The Trustees) committee
----- End of picture text -----

General Commitee
(The Trustees)		 Changes/Role Sub-
commitee
Sir David Bell
Paul Curran
Geof Berridge
Ade Adetosoye
Hanif Barma
Andrew Carter
Yogesh Chauhan
Jenny Coles
Her Honour Judge Celia
Dawson
James Dray
Kim Johnson
Paul Hewit
Barbara Hudson
Kerry Smith
Dr Judith Trowell
Jill Pay
James Hadley		 Chairman
Chair of Coram Family & Childcare
Honorary Treasurer
Appointed June 2022
Chair of CoramBAAF
Retred June 2023
Vice Chair/Chair of Coram Voice
Chair of Coram Children’s Legal Centre
Chair of Coram Shakespeare Schools Foundaton
Retred June 2022
Appointed September 2022
Appointed July 2023 /Chair of Coram IAC
Chairman of Coram Beanstalk
Appointed November 2023		 g, n, m
d,q, s
a, i, n, p,q
c, q
a, u
g, r
c, d
b,g,n
o, q
t, m
l, u
v
v
o, m
c, g, s, r
u, t
t,i

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----- Start of picture text -----
Additional Governors Role Sub-
committee
----- End of picture text -----

Additonal Governors Role Sub-
commitee
Maureen Sutherland Smith
Peter M Brown
Guy de Froment
Rob Wats
Philippa Dodds John
Asif Rangoonwala
Nicola Brentnall
James McCallum
Lord Russell of Liverpool
Alison Lowton
Jamie Pike
Anthony Douglas
Ruth Miller		 Life Governor
Life Governor
Chair of Investment Commitee
Life Governor
Vice President
Appointed June 2022
Lord Russell of Liverpool
Retred June 2023
Former Pupil		 m
i
e
m
m
a, n
m
g
m

----- Start of picture text -----
Trustees of Group operating entities who served as Sub-
members of the subcommittees were: committee
----- End of picture text -----

Trustees of Group operatng enttes who served as
members of the subcommitees were:		 Trustees of Group operatng enttes who served as
members of the subcommitees were:		 Sub-
commitee
John Jones
Hanif Barma
Guy Davies
Richard Fass
David Gray
Philip Nelson
HollyRobinson		 Treasurer, CoramBAAF
Treasurer, Coram Beanstalk
Vice Chair & Treasurer of Coram
Shakespeare Schools Foundaton
Treasurer, Coram Voice
Treasurer, Coram IAC
Trustee, Coram Beanstalk
Treasurer, Coram Familyand Childcare		 a, i, n
a
a
a, i
a
m
a

All new Trustees and Governors undergo an induction programme which incorporates a history of the charity, review of its work including the current challenges faced by the charity, its governance structure, and their individual roles and responsibilities.

All strategic decisions relating to the running of the charity, including its finances and services, are evaluated first by the various sub-committees. Their recommendations (unless they have delegated authority) are then submitted for approval by the Board of Trustees.

Decisions on the day-to-day running of the charity are made by the Chief Executive (CEO) in collaboration with other members of the Senior Management Team, consisting of the Chief Finance Officer, along with the Director of People and Compliance in conjunction with the lead operational managers as appropriate.

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Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and the Group and of the income and expenditure of the Group for that period. In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts and Reports) Regulations and the provisions of the Royal Charter. They are also responsible for safeguarding the assets of the charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

Risk management

The Trustees, together with the management of the charity, have assessed the major risks to which the charity is exposed, in particular those relating to the specific operational areas of the charity, its investments and finances. The Trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational and business risks faced by the charity, they have established effective systems to mitigate those risks where possible.

The charity has taken the following actions to mitigate the major risks facing the charity in its role in the development of the Coram Group:

Key management personnel

Key management personnel are defined as the Trustees and three members of senior management who hold Group- wide responsibilities as follows:

Dr Carol Homden CBE Chief Executive Officer Velou Singara Chief Finance Officer Christine Kelly Director of People and Compliance

Coram 28

Trustee’s Report | 31 March 2023

The remuneration of key management personnel is based on an internal assessment of the scope of the individual role and an individual’s performance against specific targets. Benchmarking is conducted to ensure that remuneration levels within the Coram Group are consistent for the level of responsibilities.

Strategic development

The Chief Executive, Dr Carol Homden CBE, and the Senior Management Team are charged with implementing the annual Management Plan and Budget and developing and taking forward the Corporate Strategy.

Coram has a vision to create better chances for children and its aim is to develop as a national centre of excellence featuring services for:

Trustees remain committed to sustaining a wide range of activities across the Coram Group and developing services and partnerships which enhance public benefit in pursuit of the organisation’s charitable objectives.

Financial Review

The consolidated statement of financial activities on page 36 shows a consolidated surplus before investment and other recognised gains and losses of £93,524 (2022 – £520,683). The Charity’s statement of financial activities on page 37 shows a deficit of £336,147 (2022 – £464,825) before investment and other recognised gains and losses.

The Group surplus for the year was lower due to reduction in the support of the Coronavirus Job Retention Scheme, as well as emergency support from government. The results still have been satisfactory considering the current volatile economic climate.

Investment losses during the year were £461,272 (2022 – gains of £1,032,636) and are mainly attributable to unrealised gains as a result of the fluctuations in stock market valuations in the last couple of years.

Foreign exchange gains on cash held for

investment purposes during the year were £31,531 (2022 – losses of £41,308) and actuarial loss on defined benefit pension schemes was £316,000 (2022 – a loss of £93,000). The pension scheme losses/gains are an accounting movement based on actuarial assumptions and reduce/increase the pension liability on the balance sheet. They do not impact on the funds available to the charity to spend. See Note 19 for further details.

The consolidated net movement on funds after all recognised gains and losses was a deficit of £652,217 (2022 – surplus of £1,419,011).

Reserves policy

Coram makes a long-term commitment to many of the children we support. We continue today to offer help to those who were with us in the Foundling Hospital as vulnerable children many decades ago. In line with many other charities, and to ensure our continued ability to achieve our mission for children, our Trustees consider it appropriate to seek to hold a minimum of six months operational expenditure in free reserves and expendable endowment funds (£3.9 million based on the Charity’s 2022-23 operational expenditure) to mitigate the risks of pension deficits, maintenance costs for our campus and variations in public sector income.

The Finance Committee reviews the reserves policy and the level of general reserves regularly. This review is undertaken in the light of current financial performance, projected results and working capital requirements. Account is taken of the risks and uncertainties facing the charity due to the nature of its reliance upon voluntary and contract based funding.

Coram 29

Trustee’s Report | 31 March 2023

Funding and reserves

The Fixed Asset Permanent Endowment Fund of £3,712,464 (2022 – £3,800,948) comprises those proceeds from the disposal of the Hospital at Bloomsbury and the Foundling Hospital School at Berkhamsted that have been used to purchase, build and equip Coram’s present premises. The movement in the year results from additions and disposals of tangible fixed assets. See Note 27 for further details of the movement of the fund in the year.

The Pension Deficit Reduction Fund has a yearend balance of £nil (2022 – £ nil). The income and capital gains in the fund are accumulated in order to enable the charity to meet the long-term liability in funding the deficit of the LGPS Camden Final Salary Pension Scheme. The LGPS surplus is not carried on the balance sheet in accordance with the requirements of FRS 102. Accordingly, a corresponding adjustment against the actuarial gain has been made to bring the net LGPS position to £nil on the balance sheet. See Note 26 for further details of the movement of the fund in the year.

Other endowment funds consist of an expendable endowment and a permanent endowment established from the grant of £4 million received from the Paul Hamlyn Foundation in 2019. The funds have a year-end balance of £9,615,484 (2022 – £10,349,293). See Note 26 for further details of the movement of the funds in the year.

The Fixed Asset Fund comprises the value of the tangible and intangible fixed assets in use by the charity that are not part of the Fixed Asset Permanent Endowment. The fund decreased in value by £148,577 to £10,995,989 (2022 – £11,144,566). See Note 30 for further details of the movement of the funds in the year.

Other restricted funds are those funds held for expenditure for specific projects. The total funds for the Group at year-end stood at £1,114,874 (2022 – £1,091,559). See Note 32 for further details of the movement of the funds in the year.

the financial stability afforded by its historic endowment. The endowment is expendable for the purpose of furthering the direct objects of the charity. The charity’s expendable endowment decreased to £9,615,484 (2022 – £10,349,293). See Note 28 for further details of the movement of free reserves in the year.

The Trustees believe that the charity has sufficient reserves (including expendable endowment funds and property assets) on current projections to mitigate identified risks, including the impact of the Covid-19 pandemic on the charity. Growth in free reserves will continue to be targeted to achieve the stated policy of six months operational expenditure. This will be achieved through proactive management of balanced operating budgets and increasing commercial income as well as strengthening donations and contractual income.

Fundraising

Coram is the parent body for a group of registered charities for which all fundraising activities are undertaken and assured by the central fundraising department. Coram is registered with the Fundraising Regulator and adheres to the Fundraising Code of Practice.

Coram promotes fundraising activity on our website and social media and at events including via raffles and auctions. We benefit from being the adopted charity of corporate supporters and have fundraising places in organised challenge events; we do not contract third parties to fundraise on our behalf.

We hold bucket collections and awareness raising events in public places where authorised and undertake door drops and media inserts. We have never and will never canvas face to face on the street or through cold calling to unconnected persons. We also internally monitor and regulate the amount of contact with direct donors to protect vulnerable people and the general public from unreasonable behaviour.

Free reserves, as measured in accordance with Charity Commission guidelines, which would exclude endowment, restricted and designated funds and fixed assets, increased to £3,887,086 (2022 – £3,631,334). Coram benefits from

Coram 30

Trustee’s Report | 31 March 2023

At Coram, we greatly value the financial contribution made by our supporters and their personal data and privacy is extremely important to us. Our Privacy Policy can be found on our website at www.coram.org.uk/privacy-policy . We have never and will never:

  1. Sell data to another organisation

  2. Share information with another organisation without specific and explicit consent

  3. Share or sell personal details to another organisation for their own use

We will always:

  1. Work to keep personal details safe

  2. Listen to supporters, and ensure that we communicate in the way that individuals want

  3. Treat all fairly and reasonably

  4. Act with transparency and be accountable – if there are questions or concerns, we will answer them in an open and honest way

During the year the Coram Group received three complaints from donors asking to be removed from our mailing list which were addressed immediately. Any comments or concerns can be raised to fundraising@coram.org.uk .

Sir David Bell Chairman

Geoff Berridge Treasurer

Approved by the Trustees on 18[th] December 2023

Coram 31

Independent auditor’s report | 31 March 2023

INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF TRUSTEES OF CORAM

Opinion

We have audited the accounts of Coram (the ‘parent charity’) and of Coram and its subsidiaries (the ‘group’) for the year ended 31 March 2023 which comprise the group and parent charity statement of financial activities, the group and parent charity balance sheets, the consolidated statement of cash flows, the principal accounting policies, the notes to the financial statements and the appendix containing the comparative group and parent charity statement of financial activities and related notes. 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).

Conclusions relating to going concern

In auditing the accounts, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the accounts 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 group’s or the parent charity’s ability to continue as a going concern for a period of at least twelve months from when the accounts 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 Trustees are responsible for the other information. The other information comprises the information included in the Annual Report and Consolidated Accounts, other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

In our opinion, the accounts:

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 accounts section of our report. We are independent of the group and the parent charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in 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 there is a material misstatement in the accounts or a material misstatement of the other information. 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.

Coram 32

Independent auditor’s report | 31 March 2023

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the Trustees are responsible for assessing the group’s and the parent 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 group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the accounts

Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:

We assessed the susceptibility of the parent charity’s and of the group’s accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:

Coram 33

Independent auditor’s report | 31 March 2023

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and noncompliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s Trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s Trustees 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 charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Coram 34

'Ji ,iiir*7, Coram 35

Coram Group Consolidated statement of financial activities | 31 March 2023

Fixed asset permanent
Expendable		 General
Designated
Fixed asset
Restricted
endowment
endowments		 funds
funds
fund
funds
fund
fund
Total 2023
Total 2022
Note No.
£
£
£
£
£
£
£
£		 Income from: . Donations and legacies
1
2,797,356
—
—
227,798
—
—
3,025,154
2,948,848		 . Investment income and interest receivable
2
185,016
—
—
—
—
—
185,016
115,055		 . Trading activities
9,10,11
3,451,432
—
—
—
—
—
3,451,432
3,246,354		 Income from charitable activities: . Promoting the care and welfare of children
3
11,776,429
—
—
2,778,411
—
—
14,554,840
14,539,756		 Coronavirus Job Retention Scheme income
—
—
106,079		 Other sources
4
568,205
—
—
—
—
—
568,205
283,126		 Total income
18,778,438
—
—
3,006,209
—
—
21,784,647
21,239,218		 Expenditure on: Raising funds . Costs of raising funds
14
1,619,811
—
—
40,826
—
—
1,660,637
1,488,394		 . Trading activities
9,10,11
2,463,453
—
—
—
—
—
2,463,453
2,490,110		 Expenditure on charitable activities . Promoting the care and welfare of children
15
14,420,786
203,404
—
2,942,843
—
—
17,567,033
16,740,031		 Total expenditure
18,504,050
203,404
—
2,983,669
—
—
21,691,123
20,718,535		 Net income before transfers and investment
274,388
(203,404)
—
22,540
—
—
93,524
520,683		 gains . Net gains on investments
26,28
(11,932)
—
—
—
(449,340)
(461,272)
1,032,636		 Net income before transfers
262,456
(203,404)
—
22,540
(449,340)
(367,748)
1,553,319		 Transfers between funds
26-31
(6,704)
242,990
(148,577)
775
(88,484)
—
—
—		 17
255,752
39,586
(148,577)
23,315
(88,484)
(449,340)
(367,748)
1,553,319		 Other recognised gains and losses . Foreign exchange gain ( losses) on cash held for
—
—
—
—
—
31,531
31,531
(41,308)		 reinvestment . Actuarial (losses) gains on defined benefit pension
19
—
—
—
—
—
(316,000)
(316,000)
(93,000)		 schemes Net movement in funds
255,752
39,586
(148,577)
23,315
(88,484)
(733,809)
(652,217)
1,419,011		 Balances brought forward at 1 April 2022
3,631,334
1,471,848
11,144,566
1,091,559
3,800,948
10,349,293
31,489,548
30,070,537		 Balances carried forward at 31 March 2023
3,887,086
1,511,434
10,995,989
1,114,874
3,712,464
9,615,484
30,837,331
31,489,548		 Intra-group transactions have been eliminated from the above figures. A comparative consolidated statement of financial activities for the previous year is included in the appendix to these accounts.

Coram 36

Coram Charity statement of financial activities | 31 March 2023

Total 2022
£		 2,014,533
108,254
6,566,136
18,592
186,342		 8,893,857 1,144,892
8,213,790		 9,358,682 (464,825)
1,017,347		 552,522
—
552,522		 (41,308)
(93,000)		 418,214
26,973,994		 27,392,208 All activities derived from continuing operations during the above two financial years. The charity has no recognised gains and losses other than those shown above.
A comparative statement of financial activities for the previous year is included in the appendix to these accounts.
Total 2023
£		 2,366,526
171,774
6,022,983
—
561,123		 9,122,406 1,310,256
8,148,297		 9,458,553 (336,147)
(449,340)		 (785,487)
—
(785,487)		 31,531
(316,000)		 (1,069,956)
27,392,208		 26,322,252
Note
No.
General
funds
£
Designated
funds
£
Fixed asset
fund
£
Restricted
funds
£
Fixed asset
permanent
endowment
fund
£
Expendable
endowments
£
Income from:
Donations and legacies
1
2,153,728
—
—
212,798
—
—
Investment income and interest receivable
2
171,774
—
—
—
—
—
Income from charitable activities
. Promoting the care and welfare of children
3
4,579,537
—
—
1,443,446
—
—
Coronavirus Job Retention Scheme income
Other sources
4
561,123
—
—
—
—
—
Total income
7,466,162
—
—
1,656,244
—
—
Expenditure on:
Raising funds
14
1,288,829
—
21,427
—
—
Charitable activities
. Promoting the care and welfare of children
15
6,413,712
203,404
—
1,531,181
—
—
Total expenditure
7,702,541
203,404
—
1,552,608
—
—
Net expenditure before transfers and investment
gains
(236,379)
(203,404)
—
103,636
—
—
. Net (losses) gains on investments
26, 28
—
—
—
—
—
(449,340)
Net (expenditure) income before transfers
(236,379)
(203,404)
—
103,636
(449,340)
Transfers between funds
26-31
236,286
—
(148,577)
775
(88,484)
—
Net (expenditure) income before other recognised
gains and losses
17
(93)
(203,404)
(148,577)
104,411
(88,484)
(449,340)
Other recognised gains and losses
. Foreign exchange losses
—
—
—
—
—
31,531
. Actuarial (losses) gains on defined benefit
pension schemes
19
(316,000)
Net movement in funds
(93)
(203,404)
(148,577)
104,411
(88,484)
(733,809)
Balances brought forward at 1 April 2022
421,387
1,191,126
11,106,678
522,776
3,800,948
10,349,293
Balances carried forward at 31 March 2023
421,294
987,722
10,958,101
627,187
3,712,464
9,615,484

Coram 37

Balance sheets | 31 March 2023

Notes Charity Charity
Group (Coram)
2023 2022
£		 2023 2022
£
£ £
Fixed assets:
Tangible assets
20
Intangible assets
21
Investments
22
Total fixed assets
Current assets
Stocks
Debtors
23
Cash at bank and in hand
Total current assets
Liabilities
Creditors: amounts falling
due within one year
24
Net current assets
Total assets less current liabilities
Creditors: amounts falling
due after one year
24
Total net assets excluding pension liability
Pension liability
25
Total net assets including pension liability
The funds of the charity:
Capital funds:
Other endowment funds
26
Building repairs and maintenance fund
26
Fixed asset permanent endowment fund
27
Income funds
Free reserves
28
Designated funds
29
Fixed asset fund
30
Other restricted funds
31
14,887,872
19,753
13,370,253
14,637,386 14,937,257 14,604,698
68,866 49,190
13,732,406		 65,866
12,851,256 12,498,477
27,557,508 28,718,853 27,169,041 28,277,878
—
2,587,725
3,009,856
222,359 229,439 —
4,737,224 5,730,567 2,423,241
5,127,517 6,300,369 1,836,825
10,087,100 12,260,375 4,260,066 5,597,581
(2,933,252)

(4,222,829) (5,939,681) (2,522,407)
5,864,271 6,320,694 1,737,659 2,664,329
30,942,207
(3,549,999)
33,421,779 35,039,547 28,906,700


(3,549,999)
**(2,584,448) ** (2,584,448)
31,489,548 27,392,208
—
30,837,331 26,322,252
— — —
30,837,331 31,489,548 26,322,252 27,392,208


10,349,293
—
3,800,948
9,115,484 10,349,293 9,115,484
500,000 — 500,000
3,712,464 3,800,948 3,712,464
13,327,948 14,150,241 13,327,948 14,150,241
421,387
1,191,126
11,106,678
522,776
3,887,086 3,631,334 421,294
1,511,434 1,471,848 987,722
10,995,989 11,144,566
1,091,559		 10,958,101
1,114,874 627,187
30,837,331 31,489,548 26,322,252 27,392,208

Approved by the Trustees and signed on their behalf by: Sir David Bell, Geoff Berridge, Chairman Treasurer

Approved by the trustees on 18th December 2023.

Coram 38

Consolidated statement of cash flows | 31 March 2023

Notes 2023
£		 2022
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities
A
Cash flows from investing activities:
Investment income and interest received
Purchase of tangible fixed assets
Proceeds from the disposal of investments
Purchase of investments
Repayment of loans
Net cash (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2022
B
Cash and cash equivalents at 31 March 2023
B		 262,066 (1,057,022)
185,016
(339,812)
915,810
(906,123)
**(1,700,000) **		 115,055
(194,010)
1,600,448
(2,039,401)
-
**(1,845,109) ** (517,908)
(1,584,043)
9,794,659		 (1,574,930)
11,353,930
8,211,616 9,779,000

Notes to the statement of cash flows for the year to 31 March 2023

A Reconciliation of net movement in funds to net cash provided by (used in) operating activities

2023
£		 2022
£
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation/amortisation charge
Loss on disposal of fixed assets
Gains on investments
Investment income
Pension actuarial adjustment
Defined benefit pension scheme service and finance cost adjustment
(Increase) decrease in stocks
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by (used in) operating activities		 (652,217)

618,517
1,490
461,272
(185,016)
316,000
(316,000)
7,080
993,343
**(982,403) **		 1,419,011
586,998
-
(1,032,636)
(115,055)
93,000
(158,000)
(59,007)
(2,961,516)
1,170,182
262,066 (1,057,022)

B Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
2023
£

Cash
movements
£
2022
£
Cash at bank and in hand
Cash held by investment managers
Loans due within one year
Loans due after more than one year
Total cash and cash equivalents		 5,127,517
3,084,099		 (1,172,852)
**(394,532) **		 6,300,369
3,478,631
8,211,616
(150,000)
(2,000,000)		 (1,567,384)
(150,000)
**(1,550,000) **		 9,779,000
(300,000)
(3,550,000)
6,061,616 132,616 5,949,000

Coram 39

Principle accounting policies | 31 March 2023

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 31 March 2023 with comparative information given in respect to the year to 31 March 2022.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the Trustees and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of at least one year from the date of approval of these accounts.

The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity or the group to continue as a going concern. The Trustees are of the opinion that the charity and the group will have sufficient resources to meet their liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above. With regard to the next accounting period, the year ending 31 March 2023, the most significant areas that affect the carrying value of the assets held by the charity and the group are the level of investment return and the performance of the investment markets; the volatility and demand for adoption services; and the level of local authority funding and resources (see the investment policy and risk management sections of the Trustees’ report for information).

Coram 40

Principle accounting policies | 31 March 2023

Basis of consolidation

The statement of financial activities consolidates the accounts of the charity and its group undertakings, Coram Life Education and Coram Life Education Trading Limited, Coram Children’s Legal Centre, Coram Voice, Coram Trading Limited, Coram Academy Limited, Coram Family and Childcare Limited, Coram Beanstalk and Coram Shakespeare Schools Foundation. Intragroup transactions are eliminated in full. The balance sheet consolidates the accounts of the charity and its group undertakings, as at the balance sheet date.

Income recognition

Income is recognised in the period in which the group and/or charity is entitled to the income and the amount can be measured reliably and it is probable the income will be received. Income is deferred only when the group and/or charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Income for the group and/or charity comprises donations; legacies; investment income and interest receivable; income from charitable activities comprising grants, fees and contractual income; and income from other sources.

Donations and grants are recognised when the group and/or charity has confirmation of both the amount and settlement date. In the event of donations and grants pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation or grant is subject to conditions that require a level of performance before the group and/or charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the group and/or charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the group and/or charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the group and/or charity.

Entitlement is taken as the earlier of the date on which either: the group and/or charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the group and/or charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the group and/or charity has been notified of the executor’s intention to make a distribution.

Fee and contractual income represent the amounts receivable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time. Incomplete contracts at the balance sheet date are accounted for by reference to the fair value of the work performed and amounts due but not received at the balance sheet date are described in the financial statements as contractual income debtors.

Income from Coram Trading Limited comprises the sales of goods and fees from the provision of consultancy and other services at invoiced value excluding VAT. This income is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. It is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Coram 41

Principle accounting policies | 31 March 2023

Income from Coram Life Education comprises donations, grants, fees and contractual income, merchandising income, and interest receivable. Merchandising income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be reliably measured.

Income from Coram Life Education Trading Limited comprises fees from the provision of consultancy and other services, project income and income from the sale of mobile classrooms. Income is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. It is measured as the fair value of the consideration received or receivable, excluding VAT.

Income from Coram Children’s Legal Centre comprises donations, bank interest, grants, fee and contractual income, income from publications and other sundry income. Income from publications and other sundry income is recognised to the extent that it is probable that the economic benefits will flow to the company and the income can be measured reliably. It is measured at fair value being the amount invoiced and considered receivable after allowing for any doubtful or bad debts.

Income from Coram Voice comprises donations, grants, interest receivable and investment income, income from fundraising, contractual income, and miscellaneous income. Income from fundraising and miscellaneous income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be reliably measured.

Income from Coram Academy Limited comprises income from policy and research work, sales of publications, membership subscriptions, income from training and workshops, gifts in kind and donations. Income from both the sale of publications and from the provision of training and workshops is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. It is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income from Coram Family and Childcare comprises donations and legacies, grants, interest receivable and investment income, income from fundraising, contractual income, and miscellaneous income.

Income from Coram Beanstalk comprises donations, grants, interest receivable and contributions from Schools. Schools income is credited to the statement of financial activities when receivable and amounts received in advance are treated as deferred income within creditors.

Income from Coram Shakespeare Schools Foundation comprises donations and grants, theatrical income and registration fees, income from trading activities and other sundry income. Theatrical income and registration fees for the festival are recognised as the service is delivered.

All other fee and contractual income is recognised to the extent that it is probable that the economic benefits will flow to the charity and the revenue can be measured reliably. It is measured at fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Income from the Coronavirus Job Retention Scheme is credited to the statement of financial activities when the charity and group are entitled to such funding and when the amount receivable has been quantified.

Coram 42

Principle accounting policies | 31 March 2023

Volunteers and donated services and facilities

The value of services provided by volunteers is not incorporated into these financial statements.

Where services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements as both income and expenditure at its estimated fair value based on the value of the contribution to the charity.

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

All expenditure is stated inclusive of irrecoverable VAT.

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the group and charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the group and/or charity (including audit costs) and costs in respect to compliance with regulation and good practice. Governance costs are included as a specific category within support costs.

Support costs are allocated to expenditure on charitable activities in the same proportion as the direct costs for each activity.

Tangible fixed assets

All assets costing more than £2,500 and with an expected useful life exceeding one year are capitalised. Assets are retired at the end of their useful economic life.

Freehold land and buildings acquired since 1 April 2001 are included in these accounts at cost or, in the case of donated assets, at a valuation determined by the Trustees based on cost or book value.

Freehold buildings are depreciated at an annual rate of 2% per annum.

No depreciation is charged on freehold land.

Coram 43

Principle accounting policies | 31 March 2023

Leasehold improvements are capitalised and depreciated over the term of the lease.

Classroom programmes are capitalised and depreciated over a four-year period on a straight line basis.

Paintings and other works of art are not capitalised for reasons explained in note 20 to the accounts.

Intangible fixed assets

Intangible fixed assets comprise internally developed software, website development and databases. Costs that are directly associated with the production of identifiable software products controlled by the group are recognised as intangible assets. Direct costs include software development staff costs and directly attributable overheads.

Internally developed intangible asset is recognised only if all of the following conditions are met:

The intangible assets are stated at cost less accumulated amortisation. Amortisation is charged over a four or five-year period, depending on the asset, on a straight-line basis, from the date the asset is available for use.

Heritage assets

No value has been attributed to heritage assets as described in note 20. Due to the specific condition attached to the items, any meaningful valuation is deemed impossible.

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised and unrealised gains (or losses) are credited (or debited) to the statement of financial activities in the year in which they arise.

The charity does not acquire put options, derivatives or other complex financial instruments.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Coram 44

Principle accounting policies | 31 March 2023

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund accounting

The fixed asset permanent endowment fund represents the proceeds from the disposal of the Hospital at Bloomsbury and the Foundling Hospital School at Berkhamsted. These proceeds have been applied to purchase, build and equip Coram’s present premises.

Other endowment funds comprise monies which are held as capital. The funds may be spent in certain circumstances as explained in note 26. Income generated by the expendable general and permanent endowment funds is credited to general funds and applied for general purposes, whereas income generated by those investments underlying the pension deficit reduction fund is added to that fund.

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor imposed conditions.

Designated funds comprise monies set aside out of unrestricted general funds for specific future purposes or projects.

The fixed asset fund represents the net book value of the charity’s fixed assets that are not included within endowment or other designated funds.

General funds i.e. free reserves represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity’s charitable objects.

Leased assets

Rentals applicable to operating leases, where substantially all the benefits and risks of ownership remain with the lessor, are charged to the statement of financial activities as incurred.

Pension costs

The charity contributes to a defined benefit pension scheme operated by the London Borough of Camden which was closed to new members in 2004 and provides benefits based on final pensionable salary. The assets of the scheme are held and managed separately from those of the charity. Pension scheme assets are measured at fair value at each balance sheet date. Liabilities are measured on an actuarial basis using the projected unit method.

The net of these two figures is recognised on the balance sheet. Any change in the asset or liability between balance sheet dates is reflected in the statement of financial activities in recognised gains and losses for the period.

The LGPS surplus is not carried on the balance sheet in accordance with the requirements of FRS 102. Accordingly, a corresponding adjustment against the actuarial gain has been made to bring the net LGPS position to £nil on the balance sheet.

Contributions in respect of personal pension schemes and defined contribution schemes are recognised in the statement of financial activities in the year in which they are payable to the relevant scheme.

Coram 45

Notes to the accounts | 31 March 2023

1. Donations and legacies

Donations and legacies
Group Unrestricted
funds
£
2,506,149
291,207
2,797,356

Restricted
funds
£


Endowment
funds
£

—
—

—
Total
funds
2022
£

Total funds

2023

£
Donations
Legacies
227,798
 2,640,316

308,532

2,733,947

291,207

227,798
3,025,154
2,948,848
Charity Unrestricted
funds
£
Restricted
funds
£

212,798

—

212,798
Endowment
funds
£		 Total
funds
2022
£

Total funds

2023
£
Donations
Legacies		 1,862,521
291,207
—
—		 1,706,001
308,532
2,075,319
291,207
2,153,728
—		 2,366,526 2,014,533

A report on donors (excluding those who have requested anonymity) who have given significant amounts is included in the charity’s published annual digest.

Coram benefits greatly from the involvement and support of its many volunteers who help with our campaigning and direct support programmes as well as our advisors and trustees. In accordance with FRS102 and the Charities SORP (FRS 102), the economic contribution is not recognised in the accounts from the support of many volunteers. No monetary value has been placed on this support in these accounts.

Coram 46

Notes to the accounts | 31 March 2023

2. Investment income and interest receivable

Group
Income from listed investments
Interest receivable		 Unrestricted
funds
£
171,774
13,242
185,016		 Endowment
funds
£
—
—
—
Total funds
2022
£

102,709

12,346

115,055
Total funds
2023
£
171,774
13,242
185,016
Charity Unrestricted
funds
£
123,092
48,682
171,774
Endowment
funds
£

—

—

—		 Total funds
2023
£
Total funds
2022
£

102,639

5,615

108,254
Income from listed investments
Interest receivable		 123,092
48,682
171,774

3. Income from charitable activities: promoting the care and welfare of children

Group Unrestricted
funds
£
Restricted
funds
£
Total funds
2022
£
Total funds
2023

£
Children’s services:
. A fair chance in life
. A loving home
. A voice that's heard
. A chance to shine
. No matter where
. Skills for the future
. A society that cares
Income from property
Other services		 3,391,157
3,758,460
2,073,743
662,646
201,888
1,092,113
150
553,879
42,393
609,666

916,776

450,819

230,995

71,442

168,517

330,196

—

—
3,581,254

5,193,018

2,659,283

765,441

369,647

1,181,001

235,783

538,857

15,472

4,000,823

4,675,236

2,524,562

893,641

273,330

1,260,630

330,346

553,879

42,393
11,776,429 2,778,411 14,554,840
14,539,756

The income from property derives from a number of charitable organisations with objectives consistent with those of Coram and which occupy parts of the Coram campus.

Charity Unrestricted
funds
£
Restricted
funds
£
Total funds
2023
£

4,675,236

190,995

10,320

330,346

813,374

2,712
6,022,983
Total funds
2022
£
Children’s services
. A loving home
. A chance to shine
. Skills for the future
. A society that cares
Income from property
Other services		 3,758,460
4,841
150
813,374
2,712
916,776
190,995

5,479

330,196

—

—		 5,192,748
272,802
67,163
235,783
781,898
15,742
4,579,537 1,443,446 6,566,136

Coram 47

Notes to the accounts | 31 March 2023

4. Other income

Other income
Group Total
Total
funds
2022
£
funds
2023
£
Other sources
283,126
568,205
Charity Total
funds
2022
£
Total
funds
2023
£
Other sources 186,342
561,123

5. Coram Life Education (CLE)

Due to the integral nature of CLE’s activities to those of Coram’s, and the degree of control Coram has over CLE given that it is the majority member with 75% voting rights, the results of CLE have been consolidated with those of Coram. The remaining 25% of voting rights are held by various Local Operating Trusts.

Year to Year to Year to
31 March
2022
£
Year to
31 March
2022
£
31 March 31 March
2023 2023
£
£
Income from:
. Donations
. Interest receivable
. Other sources
Charitable activities
. Services for health education
Merchandising
Total income
Expenditure on:
Raising funds
Charitable activities
. Services for health education
Total expenditure
Net income and net movement in funds
Net assets/(liabilities as at 31 March 2023		 17,399
18
7,501


24,918
570,969
1,516
62,909
394
—
63,303
689,672
3,461
756,436 597,403
33,505
536,471
20,944
674,197
695,141 569,976
27,427
61,295
(61,153)
42

CLE is a registered charity (Charity Registration No 800727) and is constituted as a company limited by guarantee (Company Registration No 02328941 (England and Wales)). In the event of the charity being wound up members are required to contribute an amount not exceeding £1.

Audited financial statements of CLE will be filed with both the Charity Commission and Companies House. CLE’s fundraised income amounted to £62,909 (2022 – £17,399). Income from CLE’s charitable activities amounted to £689,572 (2022 – £570,969) prior to an adjustment on consolidation of £10,055 (2022 – £20,569) in respect to transactions between Coram Life Education Trading Limited and CLE and £nil (2022 – £nil) in respect of transactions between Coram Beanstalk and CLE. All health education programme income was unrestricted in 2022 and 2023. £48,038 of donation income was restricted in 2023 (2022 – £33,430).

Coram 48

Notes to the accounts | 31 March 2023

Expenditure on CLE’s charitable activities was £695,141 (2022 – £536,471) prior to adjustments on consolidation of £nil (2022 – £12,751) in respect to transactions between Coram and CLE. £639,026 (2022 – £518,245) of health education programme expenditure was unrestricted, and £35,171 (2022 – £18,226) was restricted. All other expenditure was unrestricted.

6. Coram Children’s Legal Centre (CCLC)

On 1 September 2011 Coram amalgamated with Coram Children’s Legal Centre (Company Registration Number 01520787 (England and Wales), Charity Registration Number 281222). The results of CCLC have been consolidated with those of Coram.

consolidated with those of Coram.
Year to Year to Year to
31 March
2022
£
Year to
31 March
2022
£
31 March 31 March
2023 2023
£
£
Income from:
. Donations
Charitable activities
. Grants, fee and contract income
Other sources
Total income
Expenditure on:
Charitable activities
. Legal services and project costs
Total expenditure
Net income and movement in funds
Net assets as at 31 March 2023		 19,309
19,309
3,581,254
16,021
83,819
83,819
4,000,823
17,641
4,102,283 3,616,584
3,389,643
4,041,190
4,041,190 3,389,643
226,941
61,093
1,941,533
2,002,626

CCLC is constituted as a company limited by guarantee. In the event of the charity being wound up members are required to contribute an amount not exceeding £1.

Audited financial statements of CCLC will be filed with both the Charity Commission and Companies House.

Income from CCLC’s charitable activities amounted to £4,000,823 (2022 – £3,581,254) prior to adjustments on consolidation of £94,265 (2022 – £32,608) in respect to transactions between Coram and CCLC and £nil (2022 – £448) between Voice and CCLC. In 2023, £3,492,617 (2022 – £3,110,033) was unrestricted and £609,666 (2022 – £506,551) was restricted.

Legal services and project costs amounted to £4,041,190 (2022 – £3,389,643) prior to an adjustment on consolidation of £18,265 (2022 – £126,096) in respect to transactions between Coram and CCLC and £nil (2022 – £539) in respect to transactions between Coram Academy and CCLC.

Total expenditure of CCLC was £4,041,190 (2022 – £3,389,643). In 2023, £3,451,612 (2022 – £2,919,694) was unrestricted and £589,578 (2022 – £469,949) was restricted.

Coram 49

Notes to the accounts | 31 March 2023

7. Coram Voice

On 1 October 2013 Coram amalgamated with Voice for the Child in Care to form Coram Voice (Company Registration Number 3050826 (England and Wales), Charity Registration Number 1046207).

Year ended
31 March
2022
£
Year ended
31 March
2022
£
Year to Year to
31 March 31 March
2023 2023
£
£
Income from:
. Donations
. Investment income and bank interest
Charitable activities
. Grants, fee and contract income
Other sources
Total income
Expenditure on:
Raising funds
. Fundraising
Charitable activities
. Advocacy services and policy and
campaigning
Total expenditure
Net income before investment gains
Net( loss) gains on investment
Net income and net movement in funds
Net assets as at 31 March 2023		 54,404
6,649

61,053
2,659,283
4,502
74,923
5,018
79,941
2,524,562
18,580
2,623,083 2,724,838
50,505
2,479,818
45,971
2,566,842
2,612,813 2,530,323
15,289
(11,932)
(1,662) 209,804
1,193,444
1,191,782

Coram Voice is constituted as a company limited by guarantee. In the event of the charity being wound up members are required to contribute an amount not exceeding £1.

Audited financial statements of Coram Voice will be filed with both the Charity Commission and Companies House.

Total income of Coram Voice was £2,623,083 (2022 – £2,724,838) prior to adjustments on consolidation of £59,100 (2022 – £448) in respect to transactions between Coram and Coram Voice.

Voluntary income raised was £74,923 (2022 – £54,404). In 2023, £2,172,264 was unrestricted and £450,819 was restricted.

Total expenditure of Coram Voice was £2,612,813 (2022 – £2,530,323) prior to adjustments on consolidation of £nil (2022 – £nil) in respect to transactions between Coram Children’s Legal Centre and Coram Voice and £nil (2022 – £56,400) in respect of transactions between Coram and Coram Voice.

In 2023, total income of £450,819 was restricted (2022 – £496,361) and total expenditure of £444,999 (2022 – £421,903) was restricted.

Coram 50

Notes to the accounts | 31 March 2023

8. Coram Shakespeare Schools Foundation (CSSF)

CSSF was incorporated on 23 November 2015 (Company Registration Number 1164676 (England and Wales), Charity Registration Number 1159830). The results of CSSF have been consolidated with those of Coram.

Year to Year to Year to
31 March
2022
£
Year to
31 March
2022
£
31 March 31 March
2023 2023
£
£
Income from:
. Donations
. Interest receivable
Charitable activities
. Festival and trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
. Festival and trading activities
Total expenditure
Net income and net movement in funds
Net assets as at 31 March 2023		 684,921
—

684,921
615,408
242,206
1
242,207
863,855
1,106,062 1,300,329
105,496
850,200
97,067
1,075,185
1,172,252 955,696
344,633
(66,190)
408,309
342,119

CSSF is constituted as a company limited by guarantee. In the event of the charity being wound up members are required to contribute an amount not exceeding £1.

Audited financial statements of CSSF will be filed with both the Charity Commission and Companies House.

Total income was £1,106,062 (2022 – £1,300,329). In 2023, £1,056,062 was unrestricted (2022 – £1,275,329) and £50,000 was restricted (2022 – £25,000).

Total expenditure of CSSF was £1,172,252 (2022 – £955,696) prior to adjustments on consolidation of £12,120 (2022 – £17,966) with other group entities. In 2023, £1,106,252 was unrestricted (2022 – £899,696) and £66,000 was restricted (2022 – £56,000).

Coram 51

Notes to the accounts | 31 March 2023

9. Coram Trading Limited (CTL)

Coram Trading Limited (Company Registration Number 07034159 (England and Wales)) started trading in the year to 31 March 2011 and is a company limited by guarantee whose sole member is Coram. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Audited financial statements of Coram Trading Limited will be filed with Companies House.

The results of Coram Trading Limited have been consolidated with those of Coram.

Year to 31
Year to 31
March
2022
£
March
2023
£
Income
Looked After Children services (Coram-i)
Merchandising income
Total income
Expenditure
Looked After Children services (Coram-i)
Administration costs
Total expenditure
Operating surplus
Interest income
Surplus for the year before Gift Aid
Gift Aid to parent undertaking
Surplus (deficit) for the year before taxation
Taxation
Final surplus (deficit) for the year
Retained surplus at 1 April 2022
Retained surplus at 31 March 2023
634,463

1,717
696,181
3,843
700,024
636,180

633,344

1,352
633,462
13,281
646,743
634,696

1,484

—
53,281
302

1,484
(574)
53,583
(53,583)
910
—
—
—
— 910

2,020
2,930

2,930
2,930
Funds and reserves 31 March
2022
£
31 March
2023
£
Income and expenditure account 2,930
2,930

Total income of Coram Trading Limited was £700,024 (2022 – £636,180). Total expenditure of Coram Trading Limited was £646,743 (2022 – £634,696) prior to adjustments on consolidation of £59,301 (2022 – £39,420) in respect to transactions with Coram.

Coram 52

Notes to the accounts | 31 March 2023

10. Coram Life Education Trading Limited (CLET)

CLET (Company Registration Number 09146751 (England and Wales)) was incorporated on 24 July 2014 and started trading on 1 September 2014 and is a company limited by guarantee whose sole member is Coram Life Education. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Audited financial statements of CLET will be filed with Companies House. The results of CLET have been consolidated with those of Coram.

consolidated with those of Coram.
Year to Year to
31 March
2022
£
31 March
2023
£
Income
Educational fee income
Total income
Expenditure
Costs of educational activities
Total expenditure
Surplus for the year before interest
Interest received
Surplus for the year		 244,049
18,149
18,149 244,049
193,532
11,033
11,033 193,532
50,517
—
7,116
—
7,116 50,517
Funds and reserves 31 March
2023
£
(97,821)		 31 March
2022
£
(104,937)
Income and expenditure account

Total income of Coram Life Education Trading Limited was £18,149 (2022 – £244,049). Total expenditure of Coram Life Education Trading Limited was £11,033 (2022 – £193,532) prior to an adjustment on consolidation of £nil] (2022 – £20,569) in respect to transactions with CLE.

Coram 53

Notes to the accounts | 31 March 2023

11. Coram Academy Limited

Coram Academy Limited (Company Registration Number 09697712 (England and Wales)), trading as Coram BAAF, was incorporated on 22 July 2015. It is a company limited by guarantee and its sole member is The Thomas Coram Foundation for Children. In the event of the company being wound up, the company’s member is required to contribute an amount not exceeding £10.

Audited financial statements of Coram Academy will be filed with Companies House. The results of Coram Academy have been consolidated with those of Coram.

Academy have been consolidated with those of Coram.
Year to 31

Year to 31
March
2022
£
March
2023
£
Income from:
Turnover
Donations
Other sources
Total income
Expenditure on:
Cost of sales
Administration costs
Total expenditure
Surplus for the year
Interest received
Surplus for the year before Gift Aid
Gift Aid
Surplus for theyear
2,382,119

7
50
2,572,049
19
—
2,572,068
2,382,176

1,454,885

489,400
1,585,443
479,729
2,065,172
1,944,285

437,891

70
506,896
3,237

437,961
510,133
(510,133)
(437,961)
—
—
Funds and reserves 31 March
2023
£
—
—
—		 31 March
2022
£
General reserves
Restricted reserves		 —
—
—

Total income from trading activities was £2,572,049(2022 – £2,382,126) prior to an adjustment on consolidation of £48,245 (2022 – £nil) in respect to transactions with Coram, £nil (2022 – £nil) in respect of transactions with Coram Trading Ltd and £nil (2022 – £nil) in respect to transactions with CCLC.

Total expenditure of Coram Academy Limited was £2,065,172 (2022 – £1,944,285) prior to an adjustment on consolidation of £510,133 (2022 – £477,441) in respect of transactions with Coram.

Coram 54

Notes to the accounts | 31 March 2023

12. Coram Family and Childcare Limited

On 1 August 2018 ‘Family and Childcare Trust’ became part of the Coram Group and changed its name to Coram Family and Childcare Limited (Company Registration Number 03753345 (England and Wales), Charity Registration Number 1077444).

Coram Family and Childcare Limited is constituted as a company limited by guarantee. In the event of the charity being wound up members are required to contribute an amount not exceeding £1. Audited financial statements of Coram Family and Childcare Limited will be filed with both the Charity Commission and Companies House.

Companies House.
Year to
Year to
31 March
2022
£
31 March
2023
£
Income from:
. Donations
. Interest receivable
Charitable activities
. Programme & delivery
. Research & policy
Total income
Expenditure on:
Raising funds
Charitable activities
. Programme & delivery
. Research & policy
Total expenditure
Net (expenditure) income and net movement in funds
Net assets as at 31 March 2023
46,503

43
100,952
1,518
102,470
46,546

318,495

51,152
207,771
65,559
375,800
416,193

33,837

308,308

80,313
32,385
259,433
93,258
385,076
422,458
(6,265)
(9,276)

398,848
389,572

Total income was £375,800 (2022 – £416,193) prior to an adjustment on consolidation of £9,989 (2022 – £nil) in respect to transactions with Coram.

Total expenditure of Coram Family and Childcare Limited was £385,074 (2022 – £422,458) prior to an adjustment on consolidation of £nil (2022 – £9,817) in respect of transactions with Coram.

Coram 55

Notes to the accounts | 31 March 2023

13. Coram Beanstalk

On 1 February 2019 ‘Volunteer Reading Help’ became part of the Coram Group and changed its name to Coram Beanstalk (Company Registration Number 02101719 (England and Wales), Charity Registration Number 296454).

Coram Beanstalk is constituted as a company limited by guarantee. In the event of the charity being wound up members are required to contribute an amount not exceeding £1. Audited financial statements of Coram Beanstalk will be filed with both the Charity Commission and Companies House.

Year to
Year to
31 March
2022
£
31 March
2023
£
Income from:
. Donations
. Interest receivable
Charitable activities
. Advancing the education of children
Other
Total income
Expenditure on:
Fundraising activities
Charitable activities
. Advancing the education of children
Total expenditure
Net income and net movement in funds
Net assets as at 31 March 2023
602,429

21
658,090
2,773
660,863
602,450

542,869

50,918
560,738
7,081
1,228,682
1,196,237

120,159

881,488
108,933
753,714
862,647
1,001,647

194,590
366,035

317,792
683,827

Total income of Coram Beanstalk was £1,228,682 (2022 – £1,196,237) prior to an adjustment on consolidation of £20,000 (2022 – £nil) in respect to transactions with Coram.

Total expenditure of Coram Beanstalk was £862,647(2022 – £1,001,647) prior to an adjustment on consolidation of £nil (2022 – £20,000) in respect of transactions with Coram.

Coram 56

Notes to the accounts | 31 March 2023

14. Costs of raising funds

Group
Fundraising costs
Staff costs
Support costs (note 16)
Other costs
Investment managers’ fees		 Unrestricted
fund
£
681,183
224,405
672,130
1,577,718
42,093
1,619,811
Other
restricted
funds
£		 Total
Total
funds
2022
£
funds
2023

£

—

21,427

19,399
619,120

238,942

585,426

681,183

245,832

691,529

40,826

—
1,618,544
1,443,488

44,906

42,093

40,826
1,660,637
1,488,394
Charity Unrestricted
fund
£

569,051
224,405
453,280
1,246,736
42,093
1,288,829
Other
restricted
funds
£



—

21,427

—

21,427

—

21,427
Total
funds
2022
£
Total funds
2023

£
Fundraising costs
Staff costs
Support costs (note 16)
Other costs
Investment managers’ fees

509,488

195,795

394,703


569,051

245,832

453,280

1,268,163
1,099,986

44,906

42,093

1,310,256
1,144,892

15. Expenditure on charitable activities: Promoting the care and welfare of children

The total expenditure on each of the group’s and charity’s activities, being the total of direct costs and allocated support costs (note 16), was as follows:

Group Direct
costs
£
Support
costs
£		 Total funds
Total funds
2022
£
2023

£
Children’s services:
. A fair chance
. A loving home
. A voice that’s heard
. A chance to shine
. Skills for the future
. No matter where
. A society that cares
Other costs		 3,369,409
4,786,426
2,248,777
1,049,042
1,223,581
294,534
1,014,433
494,009
626,699

1,150,962

318,065

244,265

325,950

58,156

243,934

118,791		 3,389,643
5,937,017
2,416,195
1,179,850
1,863,403
388,621
1,240,457
324,845

3,996,108

5,937,388

2,566,842

1,293,307

1,549,531

352,690

1,258,367

612,800
14,480,211
3,086,822
17,567,033		 16,740,031

In 2023, £14,624,190 was unrestricted and £2,942,843 was restricted.

In 2022, £13,777,801 was unrestricted and £2,962,230 was restricted.

Coram 57

Notes to the accounts | 31 March 2023

Charity Direct
costs
£
Support
costs
£		 Total funds
Total funds
2022
£
6,284,958
—
307,398
222,722
1,073,867
324,845
8,213,790
2023

£
Children’s services:
. A loving home
. A voice that’s heard
. A chance to shine
. Skills for the future
. A society that cares
. Children’s campus		 4,786,426
—
175,839
98,044
1,014,433
494,009
1,150,962

—

42,283

23,576

243,934

118,791

5,937,388

—

218,122

121,620

1,258,367

612,800
6,568,751
1,579,546
8,148,297

In 2023, £6,617,116 was unrestricted and £1,531,181 was restricted.

In 2022, £6,556,162 was unrestricted and £1,657,628 was restricted.

16. Allocated support costs

Group Allocated to
charitable
activities
£
Allocated to
raising funds
£		 Total
2022
£
Total
2023

£
Central management and administration
Governance costs
Premises, legal and other support costs		 2,066,619
124,030
896,173
233,431

6,238

6,163		 1,998,414
121,193
1,017,825

2,300,050

130,268

902,336
3,086,822
245,832
3,332,654		 3,137,432
Charity Allocated to
charitable
activities
£
Allocated to
raising funds
£		 Total
2022
£
Total
2023

£
Central management and administration
Governance costs
Premises, legal and other support costs		 1,499,862
40,083
39,601
233,431

6,238

6,163		 1,555,098
38,155
64,576

1,733,293

46,321

45,764
1,579,546
245,832
1,825,378		 1,657,829

Central management and administration costs are the support costs which enable fundraising and charitable work to be carried out. These costs include the relevant proportion of central finance, human resources, information systems and communications, and similar functions that support frontline services.

Premises costs are the costs which enable the buildings from which the group and charity operate to function efficiently and effectively. Support costs are fully allocated in proportion to direct expenditure on raising funds and child care services.

Coram 58

Notes to the accounts | 31 March 2023

17. Net income (expenditure) before other recognised gains and losses

This is stated after charging:

Group Total Total
2022
£
2023
£
Staff costs (note 18)
Auditor’s remuneration
— Statutory audit services
— Other services: tax compliance and other services
Depreciation and amortisation (note 20 and 21)		 14,302,565
105,143
16,050
586,998
14,995,659
110,570
19,142
618,520
Charity Total
2022
£
Total
2023
£
Staff costs (note 18)
Auditor’s remuneration
— Statutory audit services
— Other services
Depreciation and amortisation(note 20 and 21)		 7,363,636
38,155
—
543,453
7,392,139
43,325
2,440
553,057

18. Employee and staff costs

Staff costs during the year were as follows:

Group Total Total
2022
£
2023
£
Wages and salaries
Social security costs
Other pension costs (note 19)
Payments to temporary and agency staff		 11,217,547
1,150,375
653,303
11,796,977
1,281,982
609,299
13,688,258 13,021,225
1,281,340
1,307,401
14,995,659 14,302,565

The above costs include £19,787 (2022 – £60,734) relating to redundancy payments, which are recognised when the group is demonstrably committed to the redundancy.

All termination benefits were fully funded at the balance sheet date.

Charity 2023 2022
£
£
Wages and salaries
Social security costs
Other pension costs (note 19)
Payments to temporary and agency staff		 5,265,788
603,558
426,391
5,275,021
636,280
364,940
6,276,241 6,295,737
1,067,899
1,115,898
7,392,139 7,363,636

Coram 59

Notes to the accounts | 31 March 2023

The above costs include £20,237 (2022 – £43,464) relating to redundancy payments, which are recognised when the charity is demonstrably committed to the redundancy.

The average number of employees during the year, analysed by function, was as follows:

Group 2023 2022
Number
Number
Generation of funds
Charitable activities
Support		 19
343
71
19
356
71
446 433
Charity 2023 2022
Number
Number
Generation of funds
Charitable activities
Support		 18
117
61
17
136
45
198 196

The number of employees who earned £60,000 per annum or more (including taxable benefits but excluding employer’s pension contributions) during the year was as follows:

Group 2023 2022
Number
Number
£60,001 — £70,000
£70,001 — £80,000
£80,001 — £90,000
£90,001 — £100,000
£110,001 — £120,000
£121,001 — £130,000		 7
4
2
2
1
—
5
1
4
1
—
1

Of those employees who earned £60,000 or more during the year (as defined above), employer contributions are made to defined contribution schemes in respect of 11 (2022 – 11) of them, and contributions are made to defined benefit schemes in respect of 1 (2022 – 1) of them.

Charity 2023 2022
Number
Number
£60,000 — £70,000
£70,001 — £80,000
£80,001 — £90,000
£90,001 — £100,000
£110,001 — £120,000
£120,001 — £130,000		 5
3
1
2
1
—
3
—
3
1
—
1

Of employees who earned £60,000 or more during the year (as defined above), employer contributions are made to defined contribution schemes in respect of 11 (2022 – 11) of them, and contributions are made to defined benefit schemes in respect of 1 (2022 – 1) of them.

Key management personnel are defined as the Trustees and 3 (2022 – 3) members of senior management. The total employee benefits (including employer’s pension and national insurance contributions) of the key management personnel of the charity were £378,643 (2022 – £385,567).

The remuneration of key management personnel is based on an internal assessment of the scope of the individual role and an individual’s performance against specific targets. Internal benchmarking is conducted to ensure that remuneration levels within the Coram group are consistent for the level of responsibilities.

No Trustees received any remuneration in respect of their services during the year (2022 – £nil).

Coram 60

Notes to the accounts | 31 March 2023

During the year, expenses of £nil (2022 – £nil) were reimbursed to none (2022 – none) of the Trustees of Coram in relation to our of pocket travelling expenses. In addition, total out of pocket travelling expenses of £nil (2022 – £nil) were reimbursed to none (2022 – none) Trustees during the year for Coram Life Education.

19. Pensions

Coram operated a Defined Contribution Pension Scheme administered by Aegon which has no accruing pension liability.

Coram is also an admitted body of the Local Government Superannuation Scheme (LGS) operated by the London Borough of Camden and members of staff were entitled to join this scheme until its closure to new entrants in 2004. The LGS Scheme is a funded, defined benefit scheme, requiring contributions from employers and employees.

The LGS Scheme is subject to triennial actuarial valuation. The last such valuation at 31 March 2019 indicated a funding level of 76.2%. Further details of the valuation and ongoing commitments are detailed below beneath the heading ‘LGS Scheme.’

Coram also contributes to the personal pension arrangements of some employees, all of which are on a defined contribution basis to plans from providers such as Prudential, Aviva and Scottish Equitable.

The total cost of employer pension contributions to the group and charity for the year ended 31 March 2023 was:

Group
2022
£		 Charity
2022
£
Group Charity
2023 2023
£
£
LGS Scheme
FRS 102 adjustment
Other pension arrangements		 —
156,000
497,303		 —
156,000
270,391
—
—
121,000
121,000
488,299
243,940
609,299 653,303
364,940		 426,391

LGS Scheme

The charity participates in a pension scheme with the London Borough of Camden providing benefits based on final pensionable pay. The assets of the scheme are held in separate trustee administered funds.

Coram 61

Notes to the accounts | 31 March 2023

LGS Scheme

The contributions are determined on the basis of triennial valuations by a qualified actuary using the projected unit method. The most recent full valuation, at 31 March 2019 showed that the market value of the entire London Borough of Camden scheme’s assets was £1,522m and that the actuarial value of those assets represented 75.6% of the benefits that had accrued to members, after allowing for expected future increases in earnings. The principal assumptions in the triennial valuation were that investment returns would be 4.6% per annum and that salary increases would average 1.8% per annum in excess of price inflation (CPI) of 2.5%. No allowance was made for possible discretionary increases in pensions beyond those prescribed in the scheme rules.

Actuarial assumptions

The full actuarial valuation carried out at 31 March 2019 has been updated to 31 March 2023 by a qualified independent actuary. The major assumptions used by the actuary were:

2023 2022
Pension increases
Salary increases
Expected return on assets
Discount rate		 3.30%
3.70%

2.75%
2.70%
3.00%
3.50%
3.80%
4.75%

The post retirement life expectancy assumptions used were as follows:

2023
2022
Years
Years
Current pensioners
. Men
. Women
Future pensioners
. Men
. Women		 21.8
24.1
23.2
25.9
21.6
25.0
23.6
25.7

The assets relating to Coram in the LGS Scheme and the expected rate of return are shown on the next page.

Long-term




Long-term
rate of
return
expected
2022
%





Value
at 31
March
2022
£’000




Long-term
rate of
return
expected
2021
%





Value
at 31
March
2021
£’000
rate of
Value
return
at 31
expected
March
2023 2023
%
£’000
Equities
Bonds
Property
Cash
Total market value of assets
Present value of funded scheme liabilities
Present value of unfunded liabilities
Surplus/(deficit)
2.75%

2.75%

2.75%

2.75%
8,972

2,136

2,136

998
2.5%

2.5%

2.5%

2.5%
10,727

1,207

1,073

402
3.8%
8,082
3.8%
2,740
3.8%
2,329
3.8%
548
13,699 14,242
(12,840)
(35)		 13,409
(13,437)
(37)
(10,430)
(31)
3,238 1,367 (65)

Coram 62

Notes to the accounts | 31 March 2023

Total expenditure recognised within the statement of financial activities:

Total expenditure recognised within the statement of financial activities:
2022
£’000
2023
£’000
Current service cost
Interest cost
Expected Return on employer assets
Total		 156
260
(260)
162
344
**(385) **
121 156

Amounts recognised as other gains and losses:

Amounts recognised as other gains and losses:
2023 2022
£’000
£’000
Actual return less expected return on pension scheme assets
Experience gains and losses arising on the scheme liabilities
Actuarial gain as reported by the actuary
Adjustment to cap recognieon of the scheme surplus (see * below)
Actuarial loss as reported in the statement of fnancial ac^vi^es		 676
598
(976)
2,531
1,555 1,274
(1,367)
**(1,871) **
(316) (93)
Movement in deficit during the year
Deficit at 1 April 2022
Current service cost
Contributions
Contributions in respect of unfunded benefits
Expected return on assets
Interest cost
Actuarial gain
Surplus (deficit) at 31 March 2023		 2023 2022
£’000
£’000
(65)
(156)
310
4
260
(260)
1,274
1,367
(162)
433
4
385
(344)
1,555
3,238 1,367

As the net surplus in the scheme is deemed to be irrecoverable, recognition of the surplus on the balance sheet has been restricted to £nil by adjusting the actuarial gain. The adjustment of £1,871,000 (being the difference between the capping adjustment applied in the prior year (of £1,367,000) and the capping adjustment required for the current year (of £3,238,000) has been offset against the overall actuarial gain for the year as reconciled above.

Coram 63

Notes to the accounts | 31 March 2023

20. Tangible fixed assets

Group Freehold
land
£


Freehold
buildings
£


Freehold
building
under
constructio
n
£




Freehold
building
components
£



Leasehold
buildings
£


Database
£

Fixture,
fittings,
furniture
and
equipment
£





Total
£

18,781,284

250,130

23,816
—

(143,360)

18,911,870

3,844,027
—

572,327
(141,870)

4,274,484

14,637,386

14,937,257
Cost or
valuation
At 1 April 2022
Additions
Transfers
Disposals
At 31 March
2023
Depreciation
At 1 April 2022
Charge for the
year
Disposals
At 31 March
2022
Net book
values
At 31 March
2023
At 31 March
2022		 1,007,500
—
—
—
 15,336,870

—

—
—
—
116,716

49,481

—

—
1,179,803

—

—
—

—
28,289

—

—
—

—
195,334

—

—


—
916,772

200,649

23,816
—

(143,360)
1,007,500 15,336,870
166,197
1,179,803
28,289
195,334
997,877

—
2,589,648
—
306,737
—
—

—

—
28,289
—

—

—
695,039
—

138,584

(141,870)

373,604
—

117,980

—
157,447


9,026

—
—
2,896,385
—
491,584
28,289
166,473
691,753
1,007,500 12,440,485
166,197
688,219
—
28,861
306,124
1,007,500 12,747,222
116,716
806,199
—
37,887
221,733

—

—

Charity Freehold
land
£
Freehold
buildings
£
Freehold
building
under
construction
£
Freehold
building
components
£
Furniture and
equipment
£
Total

£
Cost or valuation
At 1 April 2022
Additions
Transfers
Disposals
At 31 March
2023
Depreciation
At 1 April 2022
Charge for the
year
Retiring assets
At 31 March
2023
Net book values
At 31 March
2023
At 31 March
2022		 1,007,500
—
—
15,336,870

—

—
116,716

49,479

—
1,179,803

—

—
663,948

217,283

(33,751)

18,304,837

266,762
(33,751)
1,007,500
15,336,870
166,195
1,179,803
847,480
18,537,848
—
—
—
2,589,648

306,737

—
—

—

—
470,345

108,587

(33,751)

373,604

117,980

—

3,433,597

533,304
(33,751)
—
2,896,385
—
491,584
545,181
3,933,150
1,007,500
12,440,485
166,195
688,219
302,299

14,604,698
1,007,500
12,747,222
116,716
806,199
210,235
14,887,872

Coram 64

Notes to the accounts | 31 March 2023

Heritage assets

At 31 March 2023 the charity owned an Art Collection comprising a number of historic works of art. As stated under principal accounting policies, the paintings and other artefacts making up the Collection are not valued for the purposes of these accounts. The Collection is managed on long term loan and by The Foundling Museum.. Whilst the charity is able to sell any item from the Collection to a third party, any such sale must be at full market value and, the Museum has the automatic right to be given twelve months in which to raise the money to buy any item that the charity has indicated that it wishes to sell.

Given these terms, it is believed that the market for the Collection is extremely limited and therefore any reliable valuation of the Collection, at the present time, is deemed impossible.

21. Intangible fixed assets

Intangible fixed assets
Charity
Software
£		 Scripts
system
£		 Database
£
Group
Total

£
Cost or valuation
At 1 April 2022 and
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book values
At 31 March 2023
At 31 March 2022		 169,312
65,866
46,650

—
80,000

—

361,828

65,866
235,178
46,650
80,000
361,828
149,559
19,753
33,213

10,437
64,000

16,000

246,772

46,190
169,312
43,650
80,000
292,962
65,866
3,000
—

68,866
19,753
13,437
16,000
49,190

Coram 65

Notes to the accounts | 31 March 2023

22. Fixed asset investments

Fixed asset investments
Group 2023
£
Listed investments
Market value as at 1 April 2022
Additions at cost
Disposals (proceeds £915,810 ; realised gains £59,965)
Unrealised (losses)/gains
Market value as at 31 March 2023
Cash held for re-investment at 31 March 2023
Total investments at 31 March 2023
Cost of listed investments(excludingcash)at 31 March 2023
10,238,116
906,123
(855,845)
**(521,237) **
9,767,157
3,084,099
12,851,256
8,118,756
Charity
2023
£
Listed investments
Market value as at 1 April 2022
Additions at cost
Disposals (proceeds £885,139, realised gains £59,965)
Unrealised (losses)/gains
Market value as at 31 March 2023
Cash held for re-investment at 31 March 2023
Total investments at 31 March 2023
Cost of listed investments(excludingcash)at 31 March 2023
9,908,766
856,313
(825,174)
**(509,305) **
9,430,600
3,067,877
12,498,477
7,830,207

At 31 March 2023 the following individual investment holdings each represented a material holding (i.e. greater than 5% of the value of the entire portfolio) when compared to the value of the listed investments held at that date:

Group Market
value
£


% of total
listed
investments
Veritas Global Equity Income Fund
Schroder Private Equity 4 Cls B shares (EUR)
Hermes PropertyUnit Trust		 2,235,430
664,085
777,855

24%

7%

8%

Coram 66

Notes to the accounts | 31 March 2023

23. Debtors

Group
2023
£
3,365,559
—
196,025
1,175,640
—
4,737,224


Group
2022
£		 Charity
2023
£		 Charity
2022
£
1,033,282
—
2,944
852,374
699,125
2,587,725
Fees, charges receivable and trade debtors
Work in progress
Miscellaneous debtors
Prepayments and accrued income
Amount due from subsidiaries (see below)

4,375,086
879,141

—

110,803

1,244,678

—
—

9,268

693,100

841,732

5,730,567
2,423,241

The decrease in debtors is largely due to a change in timing in the issuing of sales invoices, this is partially offset by a year on year decrease in deferred income.

At 31 March 2023, Coram was owed £47,579 (2022 – £110,680) by Coram Life Education, £483,486 (2022 – £446,944) by Coram Academy Limited, £103,069 (2022 – £144,140) by Coram Life Education Trading Limited, £nil (2022 – £41,077) by Coram Family and Childcare Limited, £9,919 (2022 – £13,081) by Coram Beanstalk, £3,886 (2022 – £6,303) by Coram SSF, £208 (2022 £nil) by Coram Voice, £61,339 (2022 – £25,743 by Coram Trading Limited, £161,308 (2022 – £nil by Coram Children's Legal Centre.

24. Creditors

Creditors
Amounts falling due within oneyear Group Group
2022
£		 Charity Charity
2022
£
2023 2023
£ £
Expense creditors
Accruals and other creditors
Deferred income and fees in advance (see
below)
Social security and taxation
Miscellaneous creditors
Loan		 1,008,364 734,404
518,043
1,138,024
203,398
39,383
300,000
767,462
464,336
769,454 891,988
374,933
2,928,225
1,815,132
1,195,088
438,996 376,559
191,380
281,785 434,545
146,670
150,000 300,000
150,000
4,222,829 5,939,681
2,522,407		 2,933,252
Deferred income and fees in advance
Group		 At 1 April
2022
£
2,928,225
At 1 April
2022
£
1,138,024		 Received
in year
£
Released
in year
£
At 31 March
2023

£
Deferred income and fees in advance 2,009,418
(3,122,511)

1,815,132
Charity
Deferred income and fees in advance		 Received
in year
£
Released
in year
£
At 31 March
2023

£

2,009,418
(1,952,354)

1,195,088

Coram 67

Notes to the accounts | 31 March 2023

Amounts falling due after oneyear Group Group
2022
£		 Charity Charity
2022
£
2023 2023
£ £
Long term creditors 3,549,999
2,584,448 3,549,999
2,584,448
2,584,448 3,549,999
2,584,448		 3,549,999

Long term creditors includes a loan of £2,000,000 from Rathbone, which is payable by June 2025 (see note 35 for more details), a deferred legacy of £500,000 which will be released on confirmation of the entitlement to Coram and the balance is an expense creditor.

25. Provision for liabilities

Provision for liabilities
Group Group
2022
£		 Charity Charity
2022
£
2023 2023
£
£
Provision for pension scheme deficit reduction
payments (note 19)		 — —
— —

26. Endowment funds

Coram’s initial endowment fund (the expendable general endowment fund) is attributable to its origins as the Foundling Hospital and represents the proceeds of the sale of the Hospital at Bloomsbury and of the Foundling Hospital School at Berkhamsted. These proceeds were applied in part to purchase and build Coram’s present London premises (see note 27). The balance was invested with a view to generating a sustainable income and maintaining the real value of the endowment. Under the charity’s Charter, the endowment is deemed to be expendable.

During 2019, a new permanent endowment fund was established following the receipt of a £4,000,000 grant from the Paul Hamlyn Foundation. Coram will use the grant on furthering its charitable purposes. Coram is entitled to spend up to 4% of the value of the grant and consolidated returns to date as at the end of the previous financial year. If returns are insufficient to finance the 4% annual spend, the written permission of the donor is required.

During 2022/23 a decision was made to set aside £500,000 in a separate fund for building repair and maintenance costs, this is intended to cover the future expected costs of repairs to buildings.

Movements on the endowment funds during the year can be summarised as follows:

Group and charity Expendable
and
permanent
endowment
funds
£
Building
repair and
maintenance
fund
£
10,349,293
—
—
—
(816,000)
500,000
31,531
—
(449,340)
—
9,115,484
500,000		 Pension
deficit
reduction
fund
£
Balance at 1 April 2022
Actuarial losses on defined benefit pension
Transfer to (from) general endowment fund
Foreign exchange losses
Net loss in the year
Balance at 31 March 2023
—

Investment income generated by the investments underlying the general endowment fund is treated as income of the general fund.

Coram 68

Notes to the accounts | 31 March 2023

27. Fixed asset permanent endowment fund

Fixed asset permanent endowment fund
Group and charity Total
£
3,800,948
(88,484)
3,712,464
Balance at 1 April 2022
Transfer to general funds in respect to net movements on tangible fixed assets
(note 28)
Balance at 31 March 2023

The fixed asset permanent endowment fund comprises those proceeds from the disposal of the Hospital at Bloomsbury and the Foundling Hospital School at Berkhamsted that have been applied to purchase, build and equip Coram’s present premises.

28. Free reserves

Free reserves
Group
At 1 April 2022
Net income for the year
Transfer from restricted funds
Transfer from fixed asset permanent endowment fund in respect to movements in tangible fixed
assets (note 27)
Transfer to designated funds
Transfer from fixed asset fund (note 30)
Net loss on investments
At 31 March 2023		 Total
free
reserves
£
3,631,334
274,388
(775)
88,484
(242,990)
148,577
(11,932)
3,887,086
Charity Total
free
reserves
£
At 1 April 2022
Net expenditure for the year
Transfer from general endowment fund (note 30)
Net gain on investments
At 31 March 2023
421,387
(236,379)
236,286
—
421,294

Coram 69

Notes to the accounts | 31 March 2023

29. Designated funds

The funds of the group and charity include the following balance of unrestricted funds designated for future spending.

spending.
Group At
1 April
2022
£
Transfers
£
At
31 March
2023

£
Post adoption fund
Innovative projects fund
Other funds (Coram)
Other funds (Group)
Total		 200,000
532,265
458,861
280,722
—

—

(203,404)

242,990

200,000

532,265

255,457

523,712
1,471,848
39,586		 1,511,434

The post adoption fund comprises of assets earmarked for the post adoption work to be fulfilled by the Adoption and Permanent Families Service. The fund includes post adoption reserves transferred through East Midlands Adoption Project.

The Coram Innovation Fund is earmarked for strategic intervention intended to introduce a step change in the way children’s social care services are designed, delivered, evaluated and remunerated for across the system. The allocation from the fund will be specific and towards developing innovative ideas for the delivery and design of services to children.

Other designated funds (Coram) are earmarked for development of Coram’s adoption and creative therapies services in future years.

Coram (Group) funds are made up of Coram Beanstalk, Coram Children’s Legal Centre and Coram Voice, which are earmarked for their charitable purposes.

30. Tangible fixed asset fund

Tangible fixed asset fund
Group Total
£
Balance at 1 April 2022
Transfers
Balance at 31 March 2023
11,144,566
(148,577)
10,995,989
Charity
Total
£
Balance at 1 April 2022
Transfers
Balance at 31 March 2023
11,106,678
(148,577)
10,958,101

The tangible fixed asset fund comprises all monies invested in tangible and intangible fixed assets used by the charity that are not permanent endowment or other designated funds.

Coram 70

Notes to the accounts | 31 March 2023

31. Other restricted funds

The funds of the charity include the following unexpended balances of donations and grants held on trusts to be applied for specific purposes:

Group and charity At
1 April
2022
£
Income
£
Expenditure
£
Transfers
£
At
31 March
2023

£
Adoption Service
Regional Adoption Agency
Adoption related Activities
National Heritage Lottery Fund
Parenting and Creative Therapy
Policy, Research & Marketing
Nyman Funds
Tomorrow’s Achievers
Other funds
Charity total
Coram Life Education restricted funds
Coram Children’s Legal Centre restricted
funds
Coram Voice restricted funds
Coram Shakespeare Schools Foundation
restricted funds
Coram Family and Childcare Limited
restricted funds
Coram Beanstalk restricted funds
Group total		 258,665
—
—
—
111,170
2,217
4,460
86,389
59,875
94,675

613,965

15,000

190,995

155,507

295,196

—

1,000

289,906
(94,675)

(596,205)

(15,000)

(190,995)

(170,559)

(286,968)

(2,000)

(6,080)

(190,126)
—

—

—

—

610

—

—

—

165

258,665

17,760

—

—

96,728

10,445

2,460

81,309

159,820
522,776
23,771
231,542
163,430
21,000
71,099
57,941		 1,656,244

48,038

609,666

450,819

50,000

71,442

120,000
(1,552,608)

(35,171)

(589,578)

(444,999)

(66,000)

(117,526)

(177,787)
775

—

—

—

—

—
—
627,187

36,638

251,630

169,250
5,000

25,015

154
1,091,559
3,006,209
(2,983,669)
775		 1,114,874

The purposes for which the individual funds are held are as follows:

Adoption Service/Regional Adoption Service

Coram places and supports children with complex needs, who have been looked after by local authorities.

Adoption-related activities

Coram provided therapeutic support to adoptive children and their families funded by the Adoption Support Fund

Adoption Activity Days

Adoption Activity Days (AAD) events are delivered across England and are particularly helpful for children who may have to wait much longer for permanence.

National Heritage Lottery Fund

The National Lottery Heritage Fund supports the Story of Care: Voices Through Time programme to digitise Coram’s historic Foundling Hospital archive and work with young people on related creative projects

Parenting and Creative Therapy

Coram Parents’ Centre provides community based training programmes for children and parents, and other services particularly in creative therapy.

Coram 71

Notes to the accounts | 31 March 2023

Policy, Research and Marketing

It is a key element of Coram’s mission to develop, and promote best practice in support of vulnerable children, young people and their families. Coram also provides consultancy to Local Authorities and other voluntary organisations in service improvement, needs assessment, research and evaluation.

Nyman fund

The Patricia Nyman fund was set up to support Coram’s music and arts therapy work. Over a number of years, the fund has significantly benefitted children requiring music therapy support for their development and wellbeing.

Tomorrow’s Achievers

Tomorrow’s Achievers Trust signed a memorandum of understanding with Coram with an intention to work together and manage the activity of the Trust. The Trust provides specialist day and residential master classes for gifted children in various parts of the country.

Other funds

The fund comprises other receipts towards the furtherance of Coram’s charitable objects.

Coram Life Education

Coram Life Education enables children to make responsible choices in life by providing well researched, evidence –based health education and life-skills development programmes. (see note 5)

Coram Children’s Legal Centre

Coram Children’s Legal Centre works to promote children’s rights in the UK and internationally, and to provide children, their carers and professionals throughout the UK with legal information, advice and assistance on all matters of children’s law. (see note 6)

Coram Voice

Coram Voice provides advice and support to children and young people with a reliance on the state or its agencies. It supports those children and young people where those in authority fail to fulfil their obligations to them. (see note 7)

Coram Shakespeare Schools Foundation

Coram Shakespeare Schools Foundation promotes and organises the acting of Shakespeare’s plays by young people in schools and theatres thereby developing those young persons’ self-confidence and creativity. (see note 8)

Coram Family and Childcare Limited

Coram Family and Childcare Limited (formerly Family and Childcare Trust) works to make the UK a better place for families, focusing on childcare and the early years to make a difference to families’ lives now and in the long term (see note 12).

Coram Beanstalk

Coram Beanstalk (formerly Volunteer Reading Help) is a charity focusing on national literacy (see note 13).

Coram 72

Notes to the accounts | 31 March 2023

32. Analysis of total net assets between funds

Group General
funds
£		 Designated
funds
£


Fixed asset
fund
£
10,995,989

—

—

—
10,995,989


Restricted
funds
£

—

1,114,874

—

—

1,114,874		 Endowment
funds
£
Total
£
Fund balances at 31 March 2023
represented by:
Tangible & intangible fixed assets
Investments
Current assets
Creditors: amounts falling due within
one year
Creditors: amounts falling due after
one year
Total net assets excluding pension
liability		 (2,201)
3,235,772
7,460,792
(4,222,829)
(2,584,448)
—


1,511,434

—

—
3,712,464
9,615,484

—

—

—
14,706,252

12,851,256

10,087,100

(4,222,829)

(2,584,448)
3,887,086
1,511,434		 13,327,948
30,837,331
Charity General
funds
£
Designated
funds
£

—


987,722

—

—

987,722
Fixed assets
£
Restricted
funds
£

—

627,187
—

—

627,187		 Endowment
funds
£
Total
£

14,670,564

12,498,477

4,260,066

(2,522,407)

(2,584,448)
Fund balances at 31 March 2023
represented by:
Fixed assets
Investments
Current assets
Creditors: amounts falling due
within one year
Creditors: amounts falling due
after one year
Total net assets excluding
pension liability		 (1)
2,882,993
2,645,157
(2,522,407)
(2,584,448)		 10,958,101

—


—		 3,712,464
9,615,484

—
—
—
421,294 10,958,101 13,327,948 26,322,252

Coram 73

Notes to the accounts | 31 March 2023

The total unrealised gains as at 31 March 2023 constitute movements on revaluation and are as follows:

Group 2023
£’000
2022
£’000
Unrealised gains included above:
On investments
On tangible fixed assets
Total unrealised gains at 31 March 2023
Reconciliation of movements in unrealised gains
Unrealised gains at 1 April 2022
Add: net gains/(loss) arising on revaluation arising in the year
Cumulative unrealised gains (losses) on investments disposed of in the year
Difference between depreciation charge and the actual depreciation charge
calculated on the revalued amounts
Total unrealisedgains at 31 March 2023		 1,810
3,929		 1,336
3,984
5,739 5,320


5,320

(521)
1,010
(70)		 4,380
848
162
(70)
5,739 5,320
Charity 2023
£000
2022
£000
Unrealised gains included above:
On investments
On tangible fixed assets
Total unrealised gains at 31 March 2023
Reconciliation of movements in unrealised gains
Unrealised gains at 1 April 2022
Add: net gains (losses) arising on revaluation arising in the year
Cumulative unrealised gains on investments disposed of in the year
Difference between depreciation charge and the actual depreciation charge
calculated on the revalued amounts
Total unrealisedgains at 31 March 2023		 2,235
3,405
1,265

3964
5,640
5,249
5,249
(509)
970
(70)
4,349

833

137
(70)
5,640
5,249

Coram 74

Notes to the accounts | 31 March 2023

33. Analysis of net assets between endowment funds

Group and charity
Fixed asset
permanent
endowment
fund
£		 Expendable endowments Expendable endowments





Pension
deficit
reduction
fund
£




Other
endowment
funds
£
Total
£
Fund balances at 31 March 2023 represented by:
Tangible fixed assets
Investments
Total net assets excluding pension liability		 3,712,464
—
—

—
—

9,615,484

3,712,464

9,115,484
3,712,464
—
9,615,484
13,327,948

34. Operating leases

At 31 March 2023 Coram had the following total future commitments in respect of non-cancellable operating leases relating to land and buildings:

Group Land and buildings Land and buildings
2023 2022
£
£
Payable:

Within one year
Between one to two years

 76,095
76,435
93,844
68,644
162,488 152,530
Charity Land and buildings Land and buildings
2023 2022
£
£
Payable
Within one year		 —
—
—
—
— —

35. Campus development

Coram has a vision as a national centre of excellence for children and has progressively regenerated our campus to meet the needs of our group of specialist charities and partner organisations. At the heart of this, is the Queen Elizabeth II Centre which houses the dedicated Rangoonwala Conference and Learning Centre. This provides modern and flexible training facilities for our own use and for the development of revenue from use by a range of similar organisations which will help us continue and enhance our work with children.

In order to finance the development cost, Coram availed a loan facility from Rathbone Investment Management Limited in September 2017 for £2.5m at an interest rate of 1.75% per annum above the published base rate of Barclays Bank plc, against a charge on the portfolio of investments managed by them (valued at £7.07m at 31 March 2022). In line with the drawdown plan agreed with the Trustees, Coram withdrew £2.5m from the facility in 2018/19 towards the cost of the development. £0.5 million was repaid in April 2022. The balance of the loan is repayable by June 2025.

Coram 75

Notes to the accounts | 31 March 2023

36. Connected charity

The Foundling Hospital now the Thomas Coram Foundation and known as Coram) was established in 1739 by the philanthropist Thomas Coram. Instrumental in helping Coram realise his vision were the artist, William Hogarth and the composer, George Frideric Handel. Hogarth initiated the donation of artworks and Handel gave fundraising performances of The Messiah in the Hospital’s Chapel. In the process, the charity was UK’s first public art gallery and set the template for the way the arts could support philanthropy. In 1998 Coram created the Foundling Museum (a separate registered charitable company, Charity Registration No. 1071167 and Company Registration No. 03621861) to educate publicly through the display of art collections and to support the charitable purposes of Coram.

In the year, Coram is one of 13 company members of The Foundling Museum and nominates up to one third of the trustees of The Foundling Museum and held retained powers to safeguard its founding principles.

Many of the paintings and other artefacts housed within The Foundling Museum Collection belong to the Foundling Hospital Collection which is owned by Coram but they are managed on long term loan by The Foundling Museum in accordance with a legal agreement for a period of 25 years which commenced in June 2002 and updated October 2023. Whilst Coram is able to sell any item it owns from the Foundling Hospital Collection to a third party, any such sale must be at full market value. The Foundling Museum has the automatic right to be given twelve months in which to raise the money to buy any item that Coram has indicated that it wishes to sell.

During the year, excluding VAT, the Museum paid Coram £14,591 in respect of insurance (2022 – £14,978), £5,945 (2022 – £7,134) for rent and service charge, £1,260 (2022 – £1,512) for waste collection and £nil (2022 – £60,000) for sale of fine art.

Coram paid the Museum £nil (2022 – £405) in respect of admissions and paid the Foundling Museum Trading Company £3,835 (2022 – £4,176) for venue hire. Coram also paid £nil (2022 – £9,576) towards the NLHF sewing project and £nil (2022 – £540) for consultancy work on Art insurance.

At 31 March 2023, the Museum owed Coram £26,089 (2022 – £2,161). A credit note issued after the year end reduced the balance to £13,045.

37. Post Balance Sheet Events

Coram Intercountry Adoption Centre

Following discussions during the course of the year, Intercountry Adoption Centre (IAC), registered charity number 1067313, became part of the Coram Group of Companies on 1 July 2023. Coram became the sole member of IAC and new Articles were drawn up to reflect this including reserved powers. Following this change, the legal name of IAC was amended to Coram Intercountry Adoption Centre.

Foundling Museum Lease

On 12 October 2023 Coram granted a 999 year lease to the Foundling Museum for 40 Brunswick Square. The premium paid by the Foundling Museum to Coram for the grant of the lease was £4.5m.

Hempsall Consultancies Limited

On 7 November 2023 Coram acquired 100% of the shareholding of Hempsall Consultancies Limited (registered company number 4746844) and the company will trade as Coram Hempsall’s.

Coram 76

Appendix: Comparative Group consolidated statement of financial activities | 31 March 2022

Total 2022 £ 2,948,848 115,055 3,246,354 14,539,756 106,079 283,126 21,239,218 1,488,394 2,490,110 16,740,031 20,718,535 520,683 1,032,636 1,553,319 — 1,553,319 (41,308) (93,000) 1,419,011 30,070,537 31,489,548
Expendable endowments £ — — — — — — — — — — —
—		 999,982 999,982 — 999,982 (41,308) (93,000) 865,674 9,483,619 10,349,293
Fixed asset permanent endowment fund £ — — — — — — — — — — — — — — (88,484) (88,484) — — (88,484) 3,889,432 3,800,948
Other restricted funds £ 139,667 — — 2,839,170 — — 2,978,837 7,000 — 2,955,230 2,962,230 9,607 — 9,607 (1,099) 8,508 — — 8,508 1,083,051 1,091,559
Designated
Tangible fixed		 funds
asset fund		 £
£		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 —
—		 79,245
(271,985)		 79,245
(271,985)		 —
—		 —
—		 79,245
(271,985)		 1,392,603
11,416,551		 1,471,848
11,144,566
General funds £ Note No. Income from: . Donations and legacies
1
2,809,181		 . Investment income and interest receivable
2
115,055		 . Trading activities
9,10,11
3,246,354		 Income from charitable activities:
3
11,700,586		 . Promoting the care and welfare of children Coronavirus Job Retention Scheme income
106,079		 Other sources
4
283,126		 Total income
18,260,381		 Expenditure on: Raising funds . Costs of raising funds
14
1,481,394		 . Trading activities
9,10,11
2,490,110		 Expenditure on charitable activities . Promoting the care and welfare of children
15
13,777,801		 Total expenditure
17,749,305		 Net income before transfers and investment gains
511,076		 . Net gains on investments
26,28
32,654		 Net income before transfers
543,730		 Transfers between funds
26-31
282,323		 826,053 Other recognised gains and losses
17		 . Foreign exchange losses on cash held for reinvestment
—		 . Actuarial (losses) gains on defined benefit pension
19
—		 schemes Net movement in funds
826,053		 Balances brought forward at 1 April 2021
2,805,281		 Balances carried forward at 31 March 2022
3,631,334		 Intra-group transactions have been eliminated from the above figures.

Coram 77

Appendix: Comparative Charity (The Thomas Coram Foundation | 31 March 2022 ~~for Children) statement of fnancial actvites~~

Note No.
General
Designated
Fixed asset
Restricted
Fixed asset
Expendable
Pension
Total 2022		 funds
funds
fund
funds
permanent
endowment
deficit
£		 £
£
£
£
endowment
s
reduction		 fund
£
fund		 £
£		 Income from: Donations and legacies
1
1,939,866
—
—
74,667
—
—
— 2,014,533		 Investment income and interest receivable
2
108,254
—
—
—
—
—
—
108,254		 Income from charitable activities Promoting the care and welfare of children
3
5,007,479
—
— 1,558,657
—
—
— 6,566,136		 Coronavirus Job Retention Scheme income
18,592
—
—
—
—
—
—
18,592		 Other sources
4
186,342
—
—
—
—
—
—
186,342		 Total income
7,260,533
—
— 1,633,324
—
—
— 8,893,857		 Expenditure on: Raising funds
14
1,144,892
—
—
—
—
—
— 1,144,892		 Charitable activities Promoting the care and welfare of children
15
6,556,162
—
— 1,657,628
—
—
— 8,213,790		 Total expenditure
7,701,054
—
— 1,657,628
—
—
— 9,358,682		 Net expenditure before transfers and investment gains
(440,521)
—
—
(24,304)
—
—
—
(464,825)		 . Net gains on investments
26, 28
17,365
—
—
—
—
999,982
— 1,017,347		 Net (expenditure) income before transfers
(423,156)
—
—
(24,304)
—
999,982
—
552,522		 Transfers between funds
26-31
385,566
(35,024)
(260,959)
(1,099)
(88,484)
(28,000)
28,000
—		 Net (expenditure) income before other recognised gains and
17
(37,590)
(35,024)
(260,959)
(25,403)
(88,484)
971,982
28,000
552,522		 losses Other recognised gains and losses . Foreign exchange losses
—
—
—
—
—
(41,308)
—
(41,308)		 . Actuarial (losses) gains on defined benefit
—
—
—
—
—
—
(93,000)
(93,000)		 pension schemes Net movement in funds
19
(37,590)
(35,024)
(260,959)
(25,403)
(88,484)
930,674
(65,000)
418,214		 Balances brought forward at 1 April 2021
458,977 1,226,150 11,367,637
548,179 3,889,432 9,418,619
65,000 26,973,994		 Balances carried forward at 31 March 2022
421,387 1,191,126 11,106,678
522,776 3,800,948 10,349,293
— 27,392,208		 All activities derived from continuing operations during the above two financial years. The charity has no recognised gains and losses other than those shown above.

Coram 78

Appendix: Comparative notes to the financial statements | 31 March 2022

1. Donations and legacies

1. Donations and legacies
Group Unrestricted
funds
£
2,500,649
308,532
2,809,181


Restricted
funds
£

139,667

—

139,667


Endowment
funds
£

—

—

—
Endowment
funds
£

—
—

—		 Total funds
2022
£
Donations
Legacies
2,640,316
308,532
2,948,848
Charity Unrestricted
funds
£


Restricted
funds
£

74,667

—

74,667
Total funds
2022
£
Donations
Legacies		 1,631,334
308,532
1,706,001
308,532
1,939,866 2,014,533

2. Investment income and interest receivable

2. Investment income and interest receivable
Group
 Unrestricted
funds
£		 Endowment
funds
£		 Total funds
2022
£
102,709
12,346
115,055
Total funds
2022
£
102,639
5,615
108,254
Income from listed investments
Interest receivable		 102,709
12,346		 —
—
115,055 —
Charity Unrestricted
funds
£		 Endowment
funds
£

—

—

—
Income from listed investments
Interest receivable		 102,639
5,615
108,254

Coram 79

Appendix: Comparative notes to the financial statements | 31 March 2022

3. Income from charitable activities: Promoting the care and welfare of children

Group Unrestricted
funds
£		 Restricted
funds
£		 Total funds
2022
£
Children’s services:
. A fair chance in life
. A loving home
. A voice that's heard
. A chance to shine
. No matter where
. Skills for the future
. A society that cares
Income from property
Other services		 3,074,703
4,206,594
2,172,922
492,639
254,176
945,223
—
538,857
15,472
506,551

986,424

486,361

272,802

115,471

235,778

235,783

—

—

3,581,254

5,193,018

2,659,283

765,441

369,647

1,181,001

235,783

538,857

15,472
11,700,586
2,839,170
14,539,756
Charity Unrestricted
funds
£
 Restricted funds
£		 Total funds
2022
£
Children’s services
. A loving home
. A chance to shine
. Skills for the future
. A society that cares
Income from property
Other services		 4,206,324
—
3,515
—
781,898
15,742
986,424

272,802

63,648

235,783

—

—

5,192,748

272,802

67,163

235,783

781,898

15,742
5,007,479
1,558,657
6,566,136

Coram 80

Appendix: Comparative notes to the financial statements | 31 March 2022

14. Costs of raising funds

14. Costs of raising funds
Group Unrestricted
fund
£		 Other
restricted
funds
£
Total
funds
2022
£
Fundraising costs
Staff costs
Support costs (note 16)
Other costs
Investment managers’ fees		 612,120
238,942
585,426
7,000

—

—

619,120

238,942

585,426
1,436,488
44,906
7,000

—
1,443,488

44,906
1,481,394
7,000
1,488,394
Charity Unrestricted
funds
£		 Other
restricted
funds
£
Total
funds
2022
£
Fundraising costs
Staff costs
Support costs (note 16)
Other costs
Investment managers’ fees		 509,488
195,795
394,703
—

—

—

509,488

195,795

394,703
1,099,986
44,906
—

—
1,099,986

44,906
1,144,892
—
1,144,892

15. Expenditure on charitable activities: Promoting the care and welfare of children

The total resources expended on each of the group’s and charity’s activities, being the total of direct costs and allocated support costs (note 16), was as follows:

and allocated support costs (note 16), was as follows:
Group Direct
costs
£
Support
costs
£
Total funds
2022

£
Children’s services:
. A fair chance
. A loving home
. A voice that’s heard
. A chance to shine
. Skills for the future
. No matter where
. A society that cares
Other costs		 2,919,694
4,878,170
1,969,436
1,069,134
1,585,920
262,710
691,232
267,023
469,949

1,058,847

446,759

110,716

277,483

125,911

549,225

57,822

3,389,643

5,937,017

2,416,195

1,179,850

1,863,403

388,621

1,240,457

324,845
13,643,319
3,096,712
16,740,031

Coram 81

Appendix: Comparative notes to the financial statements | 31 March 2022

Charity Direct
costs
£
5,166,252
—
252,682
183,078
882,722
267,023
6,751,757
Support
costs
(note 16)
£
Total funds
2022
£

6,284,958

—

307,398

222,722

1,073,867

324,845

8,213,790
Children’s services:
. A loving home
. A voice that’s heard
. A chance to shine
. Skills for the future
. A society that cares
. Children’s campus
1,118,706

—

54,716

39,644

191,145

57,822

1,462,033

16. Allocated support costs

Group Allocated to
charitable
activities
£		 Allocated to
charitable
activities
£
Allocated to
raising funds
£
Allocated to
raising funds
£
Total
2022

£
Central management and administration
Governance costs
Premises, legal and other support costs		 1,831,896
116,835
1,010,449
166,518

4,358

7,376

1,998,414

121,193

1,017,825
2,959,180
178,252
3,137,432
Charity Allocated to
charitable
activities
£
Allocated to
raising funds
£
Total
2022

£
Central management and administration
Governance costs
Premises, legal and other support costs		 1,371,436
33,649
56,948
183,662

4,506

7,628

1,555,098

38,155

64,576
1,462,033
195,796
1,657,829
26. Endowment funds
Group and charity		 Expendable
and
permanent
endowment
funds
£



Pension
deficit
reduction
fund
£


Total
£
Balance at 1 April 2021
Actuarial losses on defined benefit pension
Transfer to free reserves
Foreign exchange losses
Net gains in the year
Balance at 31 March 2022		 9,418,619
—
(28,000)
(41,308)
999,982



65,000
(93,000)
28,000
—
—



9,483,619
(93,000)
-
(41,308)
999,982
10,349,293 — 10,349,293

Coram 82

Appendix: Comparative notes to the financial statements | 31 March 2022

27. Fixed asset permanent endowment fund

27. Fixed asset permanent endowment fund
Group and charity Total
£
3,889,282
(88,484)
3,800,948
Balance at 1 April 2021
Transfer to general funds in respect to net movements on tangible fixed assets
(note 28)
Balance at 31 March 2022

28. Free reserves

Group
At 1 April 2021
Net expenditure for the year
Transfer from restricted funds
Transfer from fixed asset permanent endowment fund in respect to movements in tangible fixed
assets (note 27)
Transfer from designated funds
Transfer to fixed asset fund (note 30)
Net gains on investments
At 31 March 2022		 Total
free
reserves
£
2,805,281
511,076
1,099
88,484
(79,245)
271,985
32,654
3,631,334
Charity
At 1 April 2021
Net expenditure for the year
Transfer from general endowment fund (note 30)
Net gain on investments
At 31 March 2022		 Total
free
reserves
£
458,977
(440,521)
385,566
17,365
421,387

30. Tangible fixed asset fund

Group Total
£
11,416,551
(271,985)
11,144,566
Balance at 1 April 2021
Transfers
Balance at 31 March 2022
Charity Total
£
11,367,637
(260,959)
11,106,678
Balance at 1 April 2021
Transfers
Balance at 31 March 2022

Coram 83

Appendix: Comparative notes to the financial statements | 31 March 2022

31. Other restricted funds

The funds of the charity include the following unexpended balances of donations and grants held on trusts to be applied for specific purposes:

be applied for specific purposes:
Group and charity At
1 April
2021
£
Income
£
Expenditure
£
Transfers
£
At
31 March
2022

£
Adoption Service
Adoption-related activities
Adoption Activity Days
National Heritage Lottery Fund
Coram Parents’ Centre
Policy, Research & Marketing
Nyman Funds
Tomorrow’s Achievers
Other funds
Charity total
Coram Life Education restricted funds
Coram Children’s Legal Centre restricted
funds
Coram Voice restricted funds
Coram Shakespeare Schools Foundation
restricted funds
Coram Family and Childcare Limited
restricted funds
Coram Beanstalk restricted funds
Group total		 258,665
—
16,000
—
111,170
2,218
6,460
86,389
67,277
54,747

763,126

83,000

272,802

110,217

235,782


25

113,625
(54,747)

(763,126)

(99,000)

(271,703)

(110,217)

(235,783)
(2,000)

(25)

(121,027)
—

—

—

(1,099)



—

—

—

258,665

—

—

—
111,170
2,217

4,460

86,389

59,875
548,179
8,567
194,940
88,972
52,000
81,539
108,854
1,633,324

33,430

506,551

496,361

25,000

115,471

168,700
(1,657,628)

(18,226)

(469,949)

(421,903)

(56,000)

(125,911)

(219,613)
(1,099)

—

—

—

—

—

—
522,776

23,771

231,542

163,430

21,000
71,099

57,941
1,083,051
2,978,837
(2,969,230)
(1,099)
1,091,559

Coram 84

Appendix: Comparative notes to the financial statements | 31 March 2022

32. Analysis of total net assets between funds

Group General
funds
£
Designated
funds
£
Fixed asset
funds
£
Restricted
funds
£

—



1,091,559

—

—

1,091,559
Endowment
funds
£
Total
£
Fund balances at 31 March 2022
represented by:
Tangible & intangible fixed assets
Investments
Current assets
Creditors: amounts falling due within
one year
Creditors: amounts falling due after
one year
Total net assets excluding pension
liability		 —
3,424,046
9,696,968
(5,939,681)
(3,549,999)
—

—

1,471,848

—

—		 11,144,566

—

—

—

—
3,841,881
10,308,360

—

—

—
14,986,447
13,732,406
12,260,375
(5,939,681)
(3,549,999)
3,631,334
1,471,848		 11,144,566 14,150,241
31,489,548
Charity General
funds
£


Designated
funds
£


Fixed assets
funds
£
11,106,678

—

—

—

—
11,106,678


Restricted
funds
£


Endowment
funds
£

3,800,947

10,349,294

—

—

—

14,150,241


Total
£

14,907,625

13,370,253

5,597,581

(2,933,252)

(3,549,999)
Fund balances at 31 March 2022
represented by:
Fixed assets
Investments
Current assets
Creditors: amounts falling due within
one year
Creditors: amounts falling due after
one year
Total net assets excluding pension
liability		 —
3,020,959
3,883,679
(2,933,252)
(3,549,999)
—

—

1,191,126

—

—
—

—

522,776

—

—
421,387
1,191,126
522,776
27,392,208

34. Analysis of net assets between endowment funds

Group and charity
Fixed asset
permanent
endowment
fund
£		 Expendable endowments Expendable endowments





Pension
deficit
reduction
fund
£




Other
endowment
funds
£
Total

£
Fund balances at 31 March 2022 represented by:
Tangible fixed assets
Investments
Total net assets excluding pension liability		 3,800,948
—
—

—
—

10,349,293

3,800,948

10,349,293
3,800,948
—
10,349,293
14,150,241

Coram 85

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