Company registration nuraber: N1042183 Charity registfdtion number.. NIC100428 Community Focus Leaming known CFL (A company limiioj by guarantee) A[8[ Report and Financial StAt¢ments ft* the Year End 31 Dnber 2017 J AMC Cleinents& Co Independant Examiner Unit 25B Ballymeno Bu$inw Centre 62 Fenaghy Road Galgomi, Ball)mena BT42 IFL
Community Foeus Learning known as CFL Contents Reference and Athninistrative Details Strategic Report Trustees, Report 3to5 Statem¢nt of Trustees, Responsibili¢i¢5 Independent Examiner's Rewfft Statement of Financial A¢tiviti¢s Ba18n¢e Sheet Notes to ihe Finsmcial Statements 10 to 17
Community Focus Learning known as CFL Reference and Administrative Detai ChHlrmAn Mrs Mary M¢Dtrmoi Trustees Mr Fergal Curr4n Mrs Sandra Millar Mrs Tess C MT5 Mary MtDumot Prlnclpfil Office 26 Market Road BalIlea Co Antrtm Northern Lroland BT43 6EL Regl$ter¢d oifi¢e 26 Markd Rcod Ball)mena Co Antrim BT43 6EL The charity is in¢orporated in NonhaTr Ireland. N1042183 Company ReglslrAtlon Number ChArlty Reglstratlon Number NIC100428 Independent Examlner J A M¢ Cl¢menL% & Co Ind¢p¢ndanr Examiner Unit ?5B BallJThena Bsine&S &tre 62 Fa)aghy Road Galgorn), Ballnea BT42 IFL Page I
Community Focus Learniug known as CFL Strategie Report for the Year Ended 31 December 2017 The trust¢e4 who are directors for the purpose5 of cornpany law. present their strategic report for the year end¢d 31 December 2017, in compliancewith s414C of theCompani&s Ad 2006. The strategi¢ report Was approved by the trustees of thctharity on 6 August 2018 and signed on lis behalf by.. Mrs Santha fvlillar Trustee Page 2
Community Foeus Learning known as CFL Trustees, Report The irustee4 who 4re directors fw the purposes of company law, present the al1 report togethtt with the financial Statements of the charttable company for the year ended 31 December 2017. Trustee5 Mr Fetg&l Cuffan Mr5 Sandra Millar Mrs Tes5 Corry Mrs Mary McDerniol ObJectlYes and i¢tlvltlfs Objects andalft Community Focus Learning's objects (""Objerts"") are spc¢ificAlly r¢stricLed to The following.. (l) To advance education and trainin8 for the benefir of the public withou( distinctic of sex, sex1 orienlalion, age race ethnicity, disabilit), or political. religious OT Oth opinicn by L8sociaiin8 with statutory authorities, voluntary organisations and inhabitsnis in a common etTort to advancc lU¢4110n the arts, culiuro h¢ritag4 personal d¢velopmeni. training and employment ski114 and to provide faciliti¢s in the interests of social wclfare with the objert uf improving the condiiion$ of lift for members of the public. 12)'1'o advanc¢ health by the proiision of educatim and health proinotional progrHrnm¢s c.ommunity I,'ocus l£aming is established 10 provide Irainin8 and development opporlunities to peA)ple of all ages, baLkgrounds and abilities in particulor tho% with disability. io improve the quality of the livc8 and ei)hftnce s¢lf-e51eem and ¢onfid¢n¢e' to encourage pyle to develop skills to suppor( health and wellbeing and in particular ittenlal health. CFL brin& education to the community, swrcin8 opporluni1i and lunding to ensure lnerable people are not regtrictttl froiii parti¢ipaiin& CFL are alt en¢iraging those 8t ihe margu)s to participate in community aclivlty by buildin¥ capacity io etnpow¢r irtdividuals through a range of programmes addressing issues around hcalth and well-being, rural isolation, lonelinS and access to basic service5. Prograinmw are based on individLial needs.. Promote education and training in informal enviromaits where le4ming is for everyone Tget areas oldidVantage and encuur8¥e participalion by those Identifi as'hard to rea¢h' Develop skills aDd Incre knowledge, self<sleemlconfJdcnce Encourab¢ progressiin to emplojment opporluni(io4 and aredI1 qualifications Develop networks and crea(e a Multi4gCY 4)pruath, delivering innovativc holistic pr0grarnm impacting positively on health and well-being Challenge the stattitory sector to SUPPLKI cojnmunlty, ¢reating publicity opportunitie5 and prornoting the idea'getting to know your local councillors, Siippori d¢v¢lopinent work on the grow]d that will help to tteaie opportUDitirs to access education where it is needed. to meet th¢ challenges faced by those M'ho live in isolaLion and who are excluded throlh lack of suppori lack of knowledge. la¢k of Income, lack of Social in¢egratim. lack of family and build paCItY helping to cngage the ¢ommiinity to share Page 3
Community Focus Learning known as CFL Trustees, Report P4bll¢ benefll 2 The advancement of F.ducati(YL 3 The advancement of Health or the saving of lives 4 The advan¢ement of Citizenship or community development 5 The relief of those in need by reason of youth, age ill healdL disability financial hardthip or rrther disadvantage. The benefii th8t flows from purpose 3 is increased access to cratning programints addressing disability awareness, h&bltli relat issues in particular mental health. Intre&8ed project fijnding addressing is5ue5 around mental health. inforination sessions ¢reating awareness of piogramrn F.videnced by.. regi$l¢rs of parti¢ip4nts ai various programme4 nurnkn of people gainin8 employment &nd numbers moving to other programmrf moniioring fonns identifying make up of parricip4nts. The benefit that flows from purpose 2 and 3 include improved access to training opportimiti¢s in infonnal Ciivironinents in knih urEon and nal arcas. The Ixnefiis will b¢ evidenced by improved knowlcdgc and skilI improved opporluniii&8 io access qualifi¢&cion& tmproved access to eMplOent and improved he41th and w¢llbein8 The trustees conflrni thot they have cornplied with the requiremfflts of section 4 of the Charili¢s Act (Norihem Ireland) 2008 to hav¢ due regard io ihe public t¢nefi¢ guidan publishejj by the Charity Commi55ion for Northern Irelan Striieture¥ governance Rud mgnagement aiure ofgijvernlng documenl Community focu5 1.carning 8el up in 2001. is a mpAnY limirul by Buwontee Constitut under the Compw)1 A¢1 2006 and is a r¢8iStcrcd Charity (Charity no NIC 1004?8) and Tax number XR S6584.. it is governed by Memorandum and Article5 of Association. Tl)¢ trustees (who are also thc direciors of Communiry Focus Learnin¥ for the purposes of cixnpony low} are responsible for preparing the Trustcc's Annual Rep and financial slalements in accordan¢e with applicdble law aiid Unit¢d Kingdom Generally Accepted Accountin¥ Pracliee. 'I'his report has been prepArd in accordance with the spttial provisions for small companies under Part l5 of the Companies Act 2006 Reermiimem appolnimenl vf1rn51ees TriiBtees are.. Mr Fergal Curraii Mrs Sandra Millar Mrs Teys Corry Se¢retAry '. MTS MaTy M¢ Dmot Page 4
Community Fo¢lls Learning known as CFL Trustees, Report Flnn¢lal Instruments ObJecilveJ andpollcl The chariry's activities expose it to a num of financial risks including credit risk, cash tlow risk and liquidity ri$k The use of financial derivatives is govern1 by the charity's p)licio% approved by the Ix)ard of trust, which provide Mritten Principl (n the of financial derivatives io manage th&se risk& Th¢ charity does not use derivative financial instruments for 5Ul8t1Ve purposes. Credll Tlsk The chariiy's principal financia] 5¢15 Jre bank Imlancts and cash, ¢radc and other re¢eivables, and investments. The charity's credii risk is prim8rily attrilwtsble to its trade receivables. The amounts presented lli the balance sheet are net of allowances fr d(Kibl] recciv&b148. AD allowance for impairniml 15 made where there is an identified loss event which, ba5¢d on previous expttience, is evidence of a reduciicfft in the recoverability of the ¢ash flows. The credii risk on liquid funds and derivative financia] instrumajts is limiied becaLL8¢ ihe countCTparties are banks with high ¢redit-ratings assign1 by in1em8tlel uedit-raiing agencies. The charity has no significant conccntrati(J) of ¢redii risK with exposure spread ov¢r a large numlxr of counterpart1 and customers. Llquldlty rtsh In order to maintain liquidity to ensure that suffi¢iertt fvnds ftre available for ongolng operations and fvfyr¢ d¢velopments, the charity uses a mixture of long-te4Th and short-knn de finance. urther details regarding liquidiiy risk can be found in the Ststema)t of aecounting policies in the fancIAl stdtcments. The annu81 report was approved by the trustees of the chari¢y 0116 Augw412018 and Sign on its bchalf by.. Mrs Sandra Millar Trustee Page 5
Community Focus Learning known as CFL Statement of Trustees, Responsibilities The trustees (who are also the directors of Community F(KILS Legmiug for the purposes of company law) are resp(Misible for preparing ihe trustees. re4X)rt and tbe financial statements in Accordance H'ith the United Kingdom Accounting Standards (Lnited Kingd(xn Genttally Accep(ed Acc(xJnting Pr8¢ti¢¢) 8ud appli¢abl¢ law and regulations. Company law requires the trustCeS to prq)ar¢ fanCial statements for each financia] year. Und¢r company law the trustees Inust not approve th¢ financial statements unless Ihey are Satisfied thF4t thcy ¥ive a true and fair view. of the State of affairs of the charitablr ¢ompanJ' and of its incoming resources and applicarion of resources, includittg its income and expenditure, for periixl. In prepartug thetse finan¢ial statemenE the trustees are rquiral to: sele sulble acc4)unting policies and apply thcTr cffisistently. observe the methods and Principl in theChariti¢s SORP; makejudgements and estimates that are reasi)nable and prudent, state w11h applicable UK Accounting SiandArds have follow1, subject to any material depar¢ur&s disclosed and explaincd in the financial s¢a¢ements; ond prepare the financial statements on the 80ing ¢on¢em bASiS unl$ it i5 inappTopriRt¢ to prcsumc that the haritablc company will continue in busincss. The trustees are responsible for kttping adequat¢ accwnting rewd5 that are sufficicnt to ihow and explain the charitable compangs transathions and disc105e with rea50nabl¢ 4¢¢ur8¢y at any rime the financial po%iti(Trn nf the chaTiiabl¢ ¢ompany and enable them to ensure ihat the finan¢iai 5tarements comply with ihe Co]npanits A¢t 2006. They are also responsible for safeguardin8 the assets of the ¢haritabl¢ wnpany and hcnce for laking reasonable steps for the preveniion and ddethion of fraud and other irregularilie& Approv by the trn$lees of the charity on 6 Augu 2018 signed on its behalf by.. Mrs San(ir4 Millar Trustee Page 6
Community Focus Learning known as CFL Independent Examin¢r's Report to Ihc trustee5 of Community Focus Learning I report to ths charity trusteu on my examinati of the accounts of the charity for the year ended 31 Dec¢mber 2017 which ar¢ Set out on pages 8 to 17. Respective Tespon$lbllltl&q of trustees and ex4min¢r As ihe chariiy's trustees of Community FuS Learnll (and also its directors for ihe purposes of ¢OTnpany lawl you are responsible for the preparati£ of th¢ 4ceounts in aceorddnce with the requireMt5 of the Companies Act 2006 ('Éhe 2006 A¢t'). Having satisfied myself that ihe a¢wtnts of Community F(Kus tKarning are not requird to be audited under Part 16 of the 2006 Act and are eligibl¢ for indepdl examinatiC. I report in respect of my ex8min8tion of your chIly'S a¢¢wnts as carried out under 5¢Ction 145 of the Charities Act 2011 {'the 2011 Acl,). In carryiDg out my ¢x8minatii)n I have followed the Directions given by th¢ Charity Commission under section 145(5Kb) of the 201 l Aa. Independent exgmlner's statement I havc ¢ompl¢t¢d my examinaiith. I confirni th&t no mailers have corne to my attention connection with the examinati giving me uSe to FKlieve'. l. accounting re¢(ffds were not kept in respe¢¢ of Communiiy FO Learning as requir by section 386 of the 2006 Act. or 2. the acC(ntS do n¢M 8¢rth with those records. or 3. the account$ do not cornply with the cOun11Th8 requirernts of seoiTr) 396 of the 2006 Act othcr than any requireinffii that ihe accounts give a 'true and fair VIC which is not a matttt considered as pat1 of an independent examination. ( 4. the ac¢ounls have not trKen prepar1 irt aCCd8nce with the methots and principles of th¢ Siatement of Recommended PrA¢cice for acc(rtJnting and reporting by charities lapplicable to chariti&s preparing their accounis in aordrice wth the financial Reporting StaT)dard F4pplicablc in ihe UK and Republic of Ireland (FRS 102)]. I have no concern5 and have come across no other maM¢rs in wnnection with the examination to which attelliion shoiild be dramry) in this report in iyder to enable a proper understanding of th¢4ecounls to be re&ched. Tony Mc tndepen em¢n¢s t FxamitL Unit 25B B1]Ymena Busine55 C¢rLtr¢ 62 Fen8ghv Road (ialBOffti, Ballymena BT42 IFL 6 August 2018 Page 7
Community Foeus Learning known a8 CFL Statement of Financial Activities for the Year Ended 31 Deeember 2017 (Ineluding Inco¢ and Expenditure Account and Statement of Total Recognised Gain5 Hnd Losses) Unrestricted nds R¢stTlcted funds Totsl 2017 Income EndowtDents from: Other trading dctiviti 12,903 ,250 10,653 Total ineome 12.903 F.xpendilure on: Raising funds 4,755 Total expendiiure 5.844 10,599 N¢t incomel(expenditure) Other re¢oEntstd plns and losses Othu galil1058¢S Reconclllatlon or rund$ 8,148 (8.094) 54 291 291 Total fjjnds c8rried forward ,094 Rc¥trlcted runds 237 Unrtstrlctrd funds Tolal 2016 Nole Income Endowments from: Donations and legacies Otlitt trading activities 18,8r2 3,000 21,872 Total incorne E%iieNdlture on: Raising ndS Tocal expenditure Net income 12.606 12.606 12.608 Reconcill4tion of funds Tot funds carricd forward All of the charitgs activities derive from ¢ontinuing operations during ihe above two pcriiMI& The fvnds breakdown for 2016 is sbown JD not¢ I l. Page 8
Community FDCUS Learning known as CFL (Registration number. N1042J83) BalaD¢e Sheet as at 31 December 2017 2017 2016 Nots Current assets Debtors al baok and tn h8nd 5.034 3,47l 7,120 Credltors: Amounts falllng due Yl'lthln ove y¢4T Net Ilabllllles 20,854 Funds of the charlty: Re¥trlctod furtds 8,094 Unr¢$lrl¢l¢d In¢ome funds Unrestricted IL4nds (Xher reserves 7.857 20,617 6,271 29,886 Tothl unrestrictoj fjJnd¥ 12.760 Total fund8 20.61 For the finiincial year endi1)8 31 r)ecember 2017 thc charity was entitloj to exemptith] from audit under section 477 of the compani Act 2006 relating lo Stnall cornpanies. Directors, respon5ibilities- The mcmbers have not reqiiirwj the ChIlY to obtain an 8udit of its accwnts for the year in question accordaiice with section 476. and I'h¢ direct(Ys acknowledge thar r¢sp(¥)sibiliti¢5 for ¢(Knplying with the rè4Ulremts of the Act with respert to ac¢ountin8 re¢or(L8 and the preparatic of accounts. Thcsc Accounts have been prepar1 in a(xordance with the prowsions &pplicablc to C4Mnpanies subjeLt to the small companies regime. The fin&ncial statements on pag&$ 8 to 17 wwe approyryj by the trnsteGs, 8Jid authtrisd for issue ot] 6 August 2018 alld signed on their khalf by.. Mrs Sandra Millar Trustee Page 9
Community Focus Learning known as CFL Notes to the Financial Statements for the Year Ended 31 December 2017 J Cbarity status The charity is a tharity limit1 by Buarantee and conwuently does not haye share rdpita]. Each of the trustees 18 liable to eontribute an amountnot exceIln8 £1 towards the a8sets of thecharity in the event of liquidati(M. The addrc5s of its register&l office is: 26 Market Road BAllymena Co Antrim B'I'43 6EL The principal place of iwsill is.. 26 Market Road Ball>qnena Co Antrim Northem Ircland BT43 6EL These financial stateMets were authoris&l isgue by ihe tswsiees on 6 Au8USt 2018. 2 A¢¢ounllng pollcles Summary of sl%nlflcant accouDlln8 11( le5 key xccounllts8 esllm&tes ThL' priiicipal arUntIng policics applied in the preparation of thesc finan¢ial stat¢nients are set out b¢low. These policies have beerL consistently applied to all ihe years pr¢sentsJ, unle55 Otherwise 51&ted. Statement of ¢ompll#n¢e I'he findnLial stateinents have been prepared tn Accordance with Accounting and Reporting by Chariti&8'. Statollent ol Re¢omm¢nded PractiLe applicable to tharilie5 prepgring ihetr accounts in accordance with the Financial Reporting Standard Rpplieable in the UK and Republic of Ireland (FRS 102) (eff11¥e l January ?0151- (Charities SORP (FRS 10211, the Tr'inanual Rq)(xting Standard applicable in the UK and Republic of Ireland (FRS 102), They also comply with the L'ompani¢s A¢t 2006 and Charities Act 2011. Bayls of preparatlon C(xninunity Focus Learning meets the definiti(m of ¥ public benefii entity undtt FRS 102. Assets and liabilitias are inilially recogni5¢d &t hffistoril ca8t or transacti( value unless (rfherwise stat&t in lh¢ relevant accounting policy Thotes. Going concern The triL%te¢s ¢onsider that there are no ]nalersal uncertainties al1 the chariws ability to conlillue as a going ¢on¢ern nor any signifLcant areas of unccrtainty that affect ihe Carrng value of assets held by the charity. Page 10
Community Focus Learning known as CFL Notes to the Financial Stalements for the Year Ended 31 December 2017 Ex¢mptlon from preparlng 4 cash flow statement The charity opted lo early adopt Bulletin I publi5hfAI on 2 F 2016 and have th¢refore Mot included a cash flow slliteinent in the5¢ financial statement Ineome and endowmenls All in¢ome is re¢o8nised once the charity has entitlemfflt to the irLcoTne. it is probable that the income will received and the atnouni of th¢ income receivable can be measured reliably. Expendlture All expendilure is reco8nis&a once there is a legal or ¢onstru¢tiv¢ obligation lo that expenditur4 it is probable sctiletnent is re4uirEd pnd the amount can be measured reliably. All cost5 arc allocated to the appli¢abl¢ expendirure heading that aggregate sirnil8r costs LO thar category. Whtte costs cannc¢ be dirtlY aiiribut&l to particular headings they have been all(L8ied on a basis consistent with the use of resources. with ¢¢ntral staff cosrs allocaied on the basis of time spent, and depreciation charges all(ated on the portion of the assct's use. Other support Costs are allocated based on the 8pread of $18ff ¢osts. Rulslngfunds T¢se are co5 incurred in a¢tr4dill8 volun¢ary incrthe. th¢ manag1t of investments and those in¢urred tradin8 adivitias that r&i5e fijnds. Tautlon 'I'he Lharity 13 considered to pass the tests sei OUL in Paragrdph I Schedule 6 of the Finan(t Act 2010 and therefore it Ineets the definiliun of a chariiabl¢ ¢oinpany f(x l.K Corporatic lax purposes. Accordingly? the Charity is potentially cxempt from taxaiicffl ui respect of income capilal gains recelved within categories covered by c'hapt 3 Pari I I of the Corporaiicm Tax Act 2010 or stiOn 256 of ihe Taxa¢7( of Chargeable Goins Act 1992, to the extent that guch income or gains ar¢ opplied exclusively to charitable purpo545. TrAde debkjrg Trade debtcrs are amounts due from c%10¢rS for mer¢h8ndis¢ sold or Servic pttformed in the ordinary course of bu5in¢sy. Trad¢ debtors are recognised initially at the tranSart1( price. They are subs4uenily Ineasured at amortised wst I15in8 th¢ ¢ffe£tivc intere# methL l&ss provision for irnp8imifflt. A provision for ihe impairn)enl of trade debtors is established wh¢n there is objective evidence that the charity will Dot Ee able to ¢olle¢t all amounts due ace(xding to the originalternis of th¢ rKeivables. C#sb And eash equlvalen15 Cash ca.h equivalent5 comprise cash on hand and call dep05its, and other sht*t-tttm highly liquid investments that are re&dily convertible to a known amount of wh and are subjeLt to an insignifiLt risk of change in value. Page 11
Community Focus Learning known Yds CFL Notes to the Finan¢iAI Statements for the Year Ended 31 De¢¢Jub¢r 2017 Borrowlngs tnteresi-bearing rrowingS ar¢ initially re¢orded ai fair value, nei of transaction costs. Interest-lxaring b)rTowngs are subsequently carried at amortised cost, with th¢ differen¢e tWeell the proceeds, net of transaction costs, and the aD]OUtLI due on redemptii)n being recognised 85 a charge to the stsiemenr of Fittancial Activities over the period of the relevant boTrowin8. Interest expense is recognised on the basis of the efftctive interest method and is includfyj in interest pajable and similar charges. Borrowings are classified as cUrret liabiliti£s unless the chariry h&s an UncnditI¢mI right to defu settlement of th# li&bility for at l¢ast iwelve months after the repOrtg dak. orelgn exchange Transactions in foreign currcn¢ies are recorded ai the rate of exchaiige ai ihe dale of Ihe transaction. Monetary assets and liabilities denominatul in foreign currencies at the b&lan¢e sh¢¢t dgie are reporied at the rates of exchange prevailing at that date. The results of ov¢r5e45 operalions gre translat at the average rates of change during the period artd their balance sheets at the rfites ruling at the bal4nce sheet date. Exehan8e differences arising on translation of the opening net 8ssets gnd results of ovcrseas opera¢ions gre rep(rt¢d in other ¢0mprehSIve income and accumulaied in cqiiity {attt1bUt to non-controlling interests a5 appropri8te). her exchon8e difference6 are recognised in the Statemeni of Financial Activities in the pttiod in lch ihey Hrise except for.. 11 exchange differencej on tranS&ctiS ted into to h8¢ certain foreign curr¢n¢y risks (see aE(Jve)' 2) exchange differences aristng on gains losses on non-monetary items which are recognised fft other comprehLSive income. E4nd 31 in the c8$e of the consolidated financial stst¢menty ex¢b4ng¢ dIffer¢n (K) monetttry items receivable from or payable to a foreigll operation for which setilema]t is iieither plannal Iior likely to wour (therefore forming part of the net investment ifL lh¢ foreign operati(m). which are rec4)8nised in ¢Aher tx)mpr¢hensive income and r¢port¢d under eqiiity. Fund structure Restricted income funds are those donated for us¢ in & parti¢u]ar area (ff fry spttific purp05e4 the use ol. wthich is re8trirt to that ared or purpose. Page 12
Community Focus Leydrning known as CFL Notes to the Finaneial Statements for the Year Ended 31 December 2017 Flnanclul Instrunjents C1$1}1c0llo Financi wets and financial liabilities ar¢ rwised when the clwiry becomes & party to the contrg4Ctua] provisions of the instrumelit. Financial liabililics and equiiy instruments 8re clL4sified acdIng io ihe subs(ance of the contractual arrangements entered into. An equity instrumtht is any ¢ontraa that evida)w a residual itJtere# in the asseis of the charity after deducting all of its liabiliiia Rec&gnlilon onrfmefjsuremenf All financial assets alld liabiliiiL% arc initiAIty mvdsured at transaction price (including tr8nsadion ¢ostsl, except for th05¢ finan¢ial wets eIlfied as ai fair value through profit or Ioss. which arc initially measured at fair value (which is normally th¢ tronsarti(m price excluding trAnSti( costs). unle55 ihe arrangeMt conslitutC5 a financiiig transaction, If an arrangcment nStItuteS a finaThcing tronsa¢ri(m, the fiD8n¢ial ass¢t or financial liability is measured ai the present value of the fvture payments discounted 8¢ a marke¢ ra* of int¢rest for a similar debt instrument. Fin&n¢ial 8wts and liobiliti&s are only offset in the statement of financial position when. and only when there exlst8 tt legally ¢nfor¢eable righi 10 sel oif the recognised amounts and the charity intends either to settle on a net basis, or tts realise the asset and seitle the liabiliiy simulianeoLL81y. FitLlln¢ial assets ar¢ derecognised when and only when a) the coniractual rights to the cash fIows frorn the fjnunci asset expire or are settled, b) the eharity transftts LO ano(htt party substantially all of the risks and rewards of ow)ership of the financial assa, (K ¢) the chprity, d&spi¢e h4vtn8 reiaiiied some, but not all, significant risks and rewards of ownership> has transferred control of ihe &et anothtt party. Finan¢ial liabilities ar¢ d¢reco8nised only when ihe obligaiion specifled in the contract iy dI$Chttrg, ¢ancelled or expires, Page 13
Community Foeus Learning knoivn as CFL Notes to the Financial Statements for the Year Ended 31 December 2017 Debtlnslnimenls Debt instrutnents which meet the following conditi¢)ns are subsequently measured at amortised cost using the effective interest methomj: (8) The ¢ontra¢tual return to the holdtt is (i) a fixed amwn(' {ii} 8 pSItiv¢ fixed rale or a positive variable rate. or (iii) a Combinati of a positiv¢ 8 negaiive fixed and a positivc variabl¢ rnt¢. (b) The contra(t may provide for repayments of the principal or the rettDTr to the hold (but not to be linked to single releyant observable index of general price inflaticm of the CUrreY in which the deix IThstrumt is denvtninul¢ provided such litths are not leveraged. (c) The coniratt may provide for ¥4 det¢rtninY4bl¢ variatiTh) of the rcturn io the holdLT duriiig the life of the instrument, provided that (i) the new ratc satisfics condir1( la) and th¢ variaiii)n is noi ciyniingent on furure cvents other than {1) a ¢hangc of a contradual variabl¢ Tate'12) to proieLt ihe holder againsr crcdit delerioration of thc i55uer; (31 clianges in levies applied by a ccntrdl bank or Hri5ing from change& ui relevant tsxaiicn law. or (li) the new rate is a market rate of interest and 8ali8fies conditii)n (a). (d) There is no contra¢tual proyision that ¢ould, by its tern)4 resul¢ in the holder losing the prin¢ipal amount or any Interest attribuiabl¢ to the ¢urreni period or pri(r p¢ri(xJs. (e) ContrauuAI provisions that porniit the issuer to prepay a debt instrument or wmit the holder to put it back to the issuer before maturity are not contingent on future events, othtt than to protect the holder against the credit dclcriuraiion of the issuer or a change in control of (he issuer, or to proied ihe holder or issuer ogai]ut Changes in l¢vi¥s applied by a central bank or arisin8 from changL% in rele1( (&xafi(m or law. {fj C.(mtractu&l provisions may pem)it the oxtension of the iemi of the de instrument, provided that the reNm io the holdcr and any other cffl)Iractual provisions appli£xblc during the extcndL4d tenn lIsfy the conditions of PEwagr&phs (a) to (¢). Debt ins(ruments thal are classified as payable or receivable within one >tar on initial reco8nitiu) and which me¢t th¢ atK)ve conditions meL8Lwed at the undiscountoj amounl of the cash (K other considcr&ti(m expe¢t¢d to be paid or receive<L nel of impaimia)t. With the exception of some hedging instrumeD¢& other debt inStrumts not tneetin¥ these Conditi)5 are measured at fair value through profit OT Ioss. Commitments to make and receive loans wbicb mea the c(KJditions rnention atxiye are measured at cost (hIch may be nil) le58 impairnienL Page 14
Community Focus Learning known as CFL Notes tlb the Financial Statements for the Year Ended 31 December 2017 Inv¢.$imen Investments in non-conycrtible preference shar&8 and non~puttable Irdinary or prefrren¢e shares (where shar&s are publicly trad or their fair value is reliably Ineasurablel are Measur at frdir value throu? profit or loss. Where fair value cannot be measured reliably, investments are Measur ai ¢ost less impa]nDL Investments in subsidiaries and wlat#S are Measur at cosi less impainllent. For investments in subsidiaries a¢quirpAI for ¢iMsiderati<m including the issue of sh8re5 qualifying for mergtr relie£ eost is measured by reference to the notninal valu¢ of the s]iues i&8ued plus fair value of other considerAli(m. Any premium is ignore Derlvallvejlnttielol Inftirmmenis I'he Clilty uses derivative financial Instrumts io redu¢e exposure to foreign exchange risk and ieSt Tale movements. The charity not hold or issue derivattve financia] Instm]ts for speculative purposes. Derivatives are iniiially recognised at fair value at the date a derivative contrao is th1er into and Are 5ubsequenily remeasured to thcir Fdir Value at each reportin8 date. The resulting 88iti or1055 IS TKogni5ed in 5tatcment of finan¢ial activitiL% immediately unless ihe derivative is desi8n2ied And effeclive as a hedging instrUrnl, in whi¢h event the timin8 of the reco8niticm tn statemeni of fin8ncial adivilies depends on the natUTC of the hedge relationship, Falr value measmremenl Th¢ besi evidence of fair value is a quixed price f(r an identi] asset in an aclive mark& wh quot prices are unnvailable, the price of a re¢Lni Iransa¢ti(m for an identi(xl assei provides evidence of fair value as long as ther¢ hos not b¢en a significanl change in economic circumstanca4 or a significani lapse of time since the iran5action look place, If the market is noi a¢liv¢ ond recent Iraiisaclion5 of an iden(ical assd on their OWTJ are noi a good estiiiiate of fair value, the fair v&lu¢ is estimated by using a YaliiY4tion techniq 3 Income from donalions and legatles Total 2017 4 Ineome from other trodlng •¢tiviti¢¥ UTrre51ri¢ied funds Reslritted funds Total 2017 Total 2016 Oiber Other incimne fr(ni other Irading ucliviti&8 12.903 810 13,713 13,713 11,148 11,148 1?.903 810 Page 15
Community Focus Learning known as CFL Notes to thc Finrdncial Slat¢ments for the Year Ended 31 Deeember 2017 5 Net Incomlnglouigoing Te50UTies Net (oiitgoingyincLNning resources for theyear in¢ludw. 2017 6 Trustees remllneratloD attd expeD5es 7 Taxatlon The charity is a registtted ch&rity and 15 therefore exp¢ from Iat1. 8 Debtors 2017 2016 Trade de¢¢9 5.034 9 Credltors: amoun18 falllng due wlthln one year 2017 l O R¢$¢rves Other reserves Tot41 At l January 2017 I l Funds Page 16
Community Focus Learning known a5 CFL Notes to the Financial Stalements for the Year Ended 31 Deeember 2017 Balgn¢e at 31 D¢Lcmber BalAnce It I JAury 2017 ltseojnlllg rtwurees ReJourtes ¢xpcnded 2017 Unr¢strl¢l¢d funds Other {12.903) 810 5,046 (7,857) 8,094 Restricted funds 3,060 Tot81 funds 237 BAlance st 31 Deeember 2016 B#lanc¢ it January 2016 Incoming resources Resources expended Unrestrlcted funds Other {18.877) I2,606 (6,271) Restrl¢ted fund5 Total funds 18,87 12,608 12 AnAIysi8 of nel Assets bellvttn funds 13 Analys15 of net funds At I JAnuAry 2017 At31 December 2017 Cash llow Cash at bank and im hand 2.086 1,385 3.471 Net debt 2,086 1,385 3,471 Page 17
Community Focus Learning known as CFL Statement of Financial Activities by fund for the Year Ended 31 De¢emb¢r 2017 LnrestTiCted fvnd$ Other Unreslrict¢d Fund5 A 2017 Income And Endowm¢nts fronb: Expendlture on., Raising funds Tothl ¢xwiditure 192 192 Net ie 192 Other reCnts(d %alns And l(rfses O¢h¢r uainsllosses Reconelliatlon of fulldg 141 Total fvnds ¢arried frnd 51 Page 18
Community Focus Learning Iinown as CFL Statement of Financial Aetivities by fund for the Year Ended 31 December 2017 Re5trieted funds Totsl Reslrlcted funds 2017 Restricted funds 2016 Income And ErtdowMet$ from: Other trading activities Totsl incorne 2,250 3,000 3.000 Expenditure on: Raising n(L9 Total expendiiure 5,844 Net (expenditureyincLYne Reconelllftllon or funds 2.998 Total fjjnds ¢arried forward 8.094 2,998 Page 19
Community Focus LeYdrniDg known as CFL Detailed Stat¢m¢nt of Financial Activities for Ihe Year Ended 31 December 2017 2017 Unre&trictrd fund5 2017 RestTlcted ruDds Totsl 2016 Other Total lll¢om¢ nnd Endowments from.. Donr41ions and legacies (analysed IlOw) Other tradin8 activitie5 lanalysed below) .250 10.653 21,872 Tthal in¢om¢ 12,903 21.877 Expendlture on.. Raisin¥ funds (anal>5 b¢low} 4,755 Total expenditure Net incomeJ{expenditure) ()ther recognlsed galns losse5 OthLY gainO10gsos (anal>sed below) Reconclllation of thtsd$ 4.755 5,844 10.599 12,6U8 8.148 (8.094) 54 9,269 291 291 Total fidS carried forward 237 Page 20
Community Fo¢us Learning Iinown as CFL Detydiled Statement of Financial Activitie5 for the Year Ended 31 December 2017 2017 Tolal 2016 Tolal Donallons andlegacl Donated goods 2017 ureStrICted rllnds Restrltted fund$ Tothl 2016 Other Total Other lrndlng rt¢¢lvliles Grants- otlicr agencies Lloyd$ John Moores Foundatic S&les of donated gdS Fccs and supplies 810 {3,060) 810 (3,060) 3.000 3,000 4,724 12,903 12903 50 2017 UDrestrlctrd funils 2017 Restrlctcd fund$ Totsl 2Q16 O(h¢r Tot*1 RaiFingfunds Wages and salaries Training Training Training Rent (5,034) (5,034) (i) (1,771) (4,841) (178) (719) (1,401) (1,401) Rates Li8h¢ heat and power (173) (9lO) (173) (910) Page21
Community Foeus knrning IOwn as CFL Detailed Statement of Financlal Activities for the Year Ended 31 December 2017 2017 Unre51ricted funds 2017 R¢strl¢ted funds Total 2016 Olber Tothl Light. heat and power LighL heat and power (123) {1231 123 (17) {2421 123 Insurtlnce Insurance Repairs and renewals Telcphone and fax Telcphonc and f&x T¢l¢phi)ne arhd fllx Computer 50ftwaTe and Tnairttenan costs Computer software and maintenance costs Printing, postage and 5¢aiion¢ry Printing, po.stage and stalioiiery Printin& posia8e and stationery General Expen5e5 Travel and subsistence Adv¢riising Bank charges Bank interert pable redi¢ ¢ard ¢horg¢g (17) (242) (545) 256 (3.620) (1,180) (1,180) (19) 19 (19) 19 (179) (222) (179) (222) (96) (30) 50 (96) (294) (50) 50 (9) (200) (200) (920) (920) 161) (170) 1327) 327 25 25 5,844 2017 Unrestricted fyDds 2017 Totgl 2016 Other Total Oiher gfjinE/IosscT Accountancy fees Le8al and profession fees Bank Charges (150) (131 128 {150) (13) 1?8 91 291 Page 22