# **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** # **ANNUAL REPORT AND ACCOUNTS** **FOR THE YEAR ENDED 31 AUGUST 2021** **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **CONTENTS** ||Page| |---|---| |Association Information|2| |Trustees’ Annual Report|3-4| |Independent Examiner’s Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Accounts|8-13| 1 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **ASSOCIATION INFORMATION** ## **Registered Address:** 12 Leadbetter Drive Bromsgrove Worcs B61 7JG ## **Registered Charity Number:** 504856 ## **Trustees:** Mrs A Hubbard (Honorary President) Mrs V Crivelli (Honorary Vice-President) – _resigned 31 August 2021_ Mrs C Pike (Chairman) Mr G Adey (Treasurer) Mrs K O’Donoghue ## **Independent Examiner:** S E M Bishop FCA BDWM Chartered Accountants Unit 3 Elgar Business Centre Moseley Road Hallow Worcester WR2 6NJ ## **Bankers:** Santander UK plc 2 Triton Square Regent’s Place London NW1 3AN 2 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021** The Trustees present their report and the financial statements of the charity for the year ended 31 August 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. ## **REFERENCE AND ADMINISTRATION DETAILS** The Hereford and Worcester Dyslexia Association (also known as HWDA), 12 Leadbetter Drive, Bromsgrove, Worcestershire, B61 7JG, is registered with the Charity Commissioners (number 504856). The trustees of the Association are as follows: Honorary President - Mrs A Hubbard Honorary Vice-President - Mrs V Crivelli (resigned 31 August 2021) Chair - Mrs C Pike Treasurer - Mr G Adey - Mrs K O’Donoghue ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Hereford and Worcester Dyslexia Association is constituted as an Association, and is governed by a constitution dated 12 November 2003. The Trustees are selected from membership at the Annual General Meeting of the Association. The day-to-day running of the Association is overseen by a management committee that includes the trustees listed above and the membership and financial secretary. The membership and financial secretary administers the members of the Association as well as assisting the Treasurer with the accounting function. ## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** The object of the Association is to advance the education of persons in the Hereford and Worcester area with Dyslexia. The trustees confirm that in planning the activities for the year, they kept in mind the Charity Commission’s guidance on public benefit at their trustee meetings. The Association runs specialist teaching sessions (“workshops”) in Worcester, Hereford, and Bromsgrove for children with Dyslexia. Each of these workshops is overseen by a workshop Senior Tutor. In addition, it offers its members information on all aspects of Dyslexia and advice on assessment and teaching. The HWDA also runs two Parents Support Groups which offer drop-in sessions to offer support to parents and deliver presentations on relevant topics. The HWDA is affiliated to the British Dyslexia Association. 3 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021 (continued)** ## **ACHIEVEMENTS AND PERFORMANCE** The Association has incurred net outgoing resources of £8,963 in the financial year. The Association continued to run weekly term-time workshop sessions of 2 to 3 hours each during term time supplemented by a number of online video tuition sessions, reaching 68 families. The two Parents Support Groups paused their activities offering regular drop-in sessions and presentations because of COVID restrictions and safety concerns. Help line support has continued throughout the year. ## **RISK REVIEW** A risk review has been carried out during the year and further risk reviews will be completed annually. The Trustees considered the potential impact of the extraordinary events of COVID-19 on its activities, and put in place mitigating actions, which together with the reserve for three months’ activities, have allowed the Association to respond to the pandemic, and preserve its support for children. ## **FINANCIAL REVIEW** The management committee has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be 3 months of the resources expended, which equates to £9,758 in general funds. At this level, the management committee feels that they would be able to continue the current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed. The total reserves at 31 August 2021 were £61,208. The balance held as unrestricted funds at 31 August 2021 was £33,159, of which £32,212 are regarded as free reserves, after allowing for funds tied up in tangible fixed assets. Approved by the Trustees on 24 January 2022 and signed on their behalf by GH Adey ---------------------------------------- Geoffrey Adey, Treasurer 4 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2021 which are set out on pages 6 to 13. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S Bishop Dated: 22 February 2022 ---------------------------------------Sally Bishop FCA BDWM Chartered Accountants Unit 3 Elgar Business Centre Moseley Road Hallow Worcester WR2 6NJ 5 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021** |**INCOME AND EXPENDITURE**
**Income and endowments (Note 2)**
Donations and legacies
Charitable activities
Government grants
Investments
**Total**
**Expenditure (Notes 3 – 6)**
Charitable activities
**Total**
**Net income/(expenditure)**
Transfers between funds
**Net movement in funds**
**Total funds bought forward**
**Total funds carried forward**|Unrestricted
Funds
£
3,851
24,255
3,891
-
31,997
38,572
38,572
(6,575)
-
(6,575)
39,734
33,159|Restricted
Income
Funds

£
-
-
-
-
-
2,388
2,388
(2,388)
-
(2,388)
10,437
8,049|Endowment
Funds
£
-
-
-
-
-
-
-
-
-

-
20,000
20,000|Total
Funds
2021
£
3,851
24,255
3,891
-
31,997
40,960
40,960
(8,963)
-
(8,963)
70,171
61,208|Total
Funds
2020
£
5,732
25,814
9,253
-| |---|---|---|---|---|---| ||||||40,799| ||||||42,244| ||||||42,244| ||||||(1,445)
-| ||||||(1,445)
71,616
70,171| All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year. 6 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **BALANCE SHEET AT 31 AUGUST 2021** |**Fixed Assets**
Tangible assets (Note 7)
**Current Assets**
Debtors (Note 8)
Investments (Note 9)
Cash at bank and in hand
_Total current assets_
**Creditors**: amounts falling due within one
year (Note 10)
**Net Current Assets**
**Total net assets**
**Funds of the Charity**
Unrestricted funds
Restricted income funds (Note 11)
Endowment funds (Note 11)
Total funds|Unrestricted
funds
£
947
459
5,116
28,127
33,702
1,490
32,212
33,159
33,159
-
-
33,159|Restricted
income
funds
£
461
-
7,588
-
7,588
-
7,588
8,049
-
8,049
-
8,049|Endowment
funds
£
-
-
20,000
-
20,000
-
20,000
20,000
-
-
20,000
20,000|Total this
year
£
1,408
459
32,704
28,127
61,290
1,490
59,800
61,208
33,159
8,049
20,000
61,208|Total last
year
£
2,690| |---|---|---|---|---|---| ||||||1,365
32,704
36,278| ||||||70,347
2,866| ||||||67,481| ||||||70,171| ||||||39,734
10,437
20,000| ||||||70,171| The financial statements were approved and authorised for issue by the Trustees on 24 January 2022 Signed on behalf of the board of trustees C Pike Chair: _______________________________ Carolyn Pike GH Adey Treasurer: _______________________________ Geoffrey Adey The notes on pages 8 to 13 form part of these financial statements. 7 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021** ## **1 Summary of significant accounting policies** ## **(a) General information and basis of preparation** Hereford and Worcester Dyslexia Association is constituted as an Association in England. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity’s operations and principal activities are set out in the Trustees’ Report. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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 UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **(b) Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. 8 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)** ## **(c) Income recognition** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Investment income is earned on cash held on deposit. Interest is accounted for when received, as is any tax recoverable on such income. ## **(d) Expenditure recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Costs of raising funds comprise those costs directly attributable to fund raising events. Indirect support costs which include office and administration costs are allocated on the basis of a proportion of direct costs. ## **(e) Tangible fixed assets** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Office equipment 20% straight line 9 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)** ## **(f) Current asset investments** Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year. ## **(g) Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **(h) Going concern** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## **2. ANALYSIS OF INCOME AND ENDOWMENTS** |**Donations and legacies**
Donations received - general
Membership subscriptions
Gift Aid income
**Government grants**
COVID Job Retention Scheme
**Investments**
Bank interest received
**Charitable activities**
Workshop fees
Other income|Total
Funds
2021
£
451
2,688
712
3,851
3,891
3,891
-
-
24,255
-
24,255|Total
Funds
2020
£
1,749
3,446
537| |---|---|---| |||5,732| |||9,253| |||9,253| |||-| |||-| |||25,814
-| |||25,814| In 2021, £nil (2020 - £nil) of the above income was attributable to restricted funds and £31,997 (2020 - £40,799) of the above income was attributable to unrestricted funds. 10 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)** ## **3. ANALYSIS OF EXPENDITURE** |**Charitable Activities**
Grants and bursaries payable
Workshop costs
Support costs
Governance costs|Total
2021
£
1,927
32,406
6,003
624
40,960|Total
2020
£
1,209
35,368
5,043
624
42,244| |---|---|---| In 2021, £2,388 (2020 - £1,670) of the above costs were attributable to restricted funds and £38,572 (2020 - £40,574) of the above costs were attributable to unrestricted funds. ## **4. DETAILS OF CERTAIN ITEMS OF EXPENDITURE** ## **4.1 Independent examiner’s remuneration** The independent examiner’s remuneration amounts to an independent examination fee of £624 (2020: £624). ## **4.2 Trustees' and key management personnel remuneration and expenses** The charity considers its key management personnel are the trustees. The trustees neither received nor waived any remuneration during the year (2020: £Nil). The trustees did not have any expenses reimbursed during the year (2020: £Nil). |**5. PAID EMPLOYEES**
**5.1 Staff Costs**
Gross wages, salaries and benefits in kind
Employer’s national insurance costs
Pension costs
Total staff costs|2021
£
30,117
164
-
30,281|2020
£
32,906
-
-| |---|---|---| |||32,906| |No employees received total employee benefits (excluding employer pension costs) of more
£60,000
**5.2 Average number of employees in the year**
This year
Number
The parts of the charity in which the employees work:
Charitable Activities
15
Total
15|than
Last Year
Number
23
23| |---|---| 11 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)** ## **6. GRANTMAKING** ## **Total value of grants** |Purpose for which grant made:|Grants to institutions
£|Grants to individuals
£| |---|---|---| |Bursaries for Workshop fees|-|1,927| |Total|-|1,927| ## **7. TANGIBLE FIXED ASSETS** |**Cost**
At 1 September 2020
Additions
At 31 August 2021
**Accumulated Depreciation**
At 1 September 2020
Charge for year
At 31 August 2021
**Net book values**
At 31 August 2020
At 31 August 2021|Office
Equipment
£
9,321
-| |---|---| ||9,321| ||6,631
1,282| ||7,913| ||2,690| ||1,408| ## **8. DEBTORS AND PREPAYMENTS: Amounts falling due within one year** |Fees receivable
Prepayments and accrued interest|2021
£
109
350
459|2020
£
423
942
1,365| |---|---|---| ## **9. CURRENT ASSET INVESTMENTS** Current asset investments consist of funds held on deposit with the Co-operative Bank. |**10. LIABILITIES**:**Amounts falling due within one year**
Accruals and deferred income
Other creditors|2021
£
1,490
-
1,490|2020
£
2,866
-
2,866| |---|---|---| 12 **HEREFORD AND WORCESTER DYSLEXIA ASSOCIATION** **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)** ## **11. ENDOWMENT AND RESTRICTED INCOME FUNDS** ## **11.1 Funds Held** Fund name Fund Type Bursary Fund Restricted income fund (R) Expendable endowment fund (EE) Cadbury Training Fund Restricted income fund (R) Adult Support Group Fund Restricted income fund (R) IT Fund Restricted income fund (R) Purpose and restrictions Provision of bursaries (See Note 13) Provision of training Provision of adult support Provision of IT equipment ## **11.2 Movement in Major Funds – current period** |Fund name
Bursary fund
Cadbury training fund
Adult support group fund
IT fund|Balance at
1.9.20
£
27,561
45
714
2,117
30,437|Incoming
resources
£
-
-
-
-
-|Outgoing
resources
£
(1,927)
-
-
(461)
(2,388)|Transfers
between
funds
£
-
-
-
-
-|Balance at
31.8.21
£
25,634
45
714
1,656
28,049| |---|---|---|---|---|---| ## **11.3 Movement in Major Funds – previous period** |Fund name
Bursary fund
Cadbury training fund
Adult support group fund
IT fund|Balance at
1.9.19
£
28,770
45
714
2,578
32,107|Incoming
resources
£
-
-
-
-
-|Outgoing
resources
£
(1,209)
-
-
(461)
(1,670)|Transfers
between
funds
£
-
-
-
-
-|Balance at
31.8.20
£
27,561
45
714
2,117
30,437| |---|---|---|---|---|---| ## **12. TRANSACTIONS WITH RELATED PARTIES** No remuneration or benefits were paid to related parties (2020 - £nil) There were no loans or other transactions with related parties (2020 - £nil). ## **13. ADDITIONAL DISCLOSURES** Included in the Bursary Fund balance at 31 August 2021 is an unexpended endowment of £20,000 (2020 - £20,000) received from the Rowlands Trust in May 1998. The interest from this capital receipt is to be used for the purposes of the Bursary Fund, with the proviso that if that purpose should cease to be applicable, then the money can be applied for the Association’s general charitable purposes. 13