| THE FAMILY HAVEN | ||||||||||
| NOTES TO THE FINANCIAL STATEMENTS | ||||||||||
| FOR THE YEAR ENDED 31ST MARCH 2007 | ||||||||||
| Page 10 | ||||||||||
| 1. | Accounting Policies | |||||||||
| Basis of accounting | ||||||||||
| The financial statements have been prepared under the historical cost convention, in accordance with applicable Accounting Standards and the Companies Act and comply with the Statement of Recommended Practice Accounting and Reporting by Charities. The policies adopted for items which are judged material to the financial statements are as follows: | ||||||||||
| Incoming resources | ||||||||||
| Donations and gifts
are recognised as income when received except where any restrictions on
expenditure demand that a proportion be carried forward as deferred income.
The donations under Gift Aid are recognised when receivable. The associated income tax recovery is
recognised when the recovery is receivable. Interest is recognised as income when receivable. Grants are recognised as income when they are received provided conditions for receipt have been complied with, unless they relate to a specified future period in which case they are deferred. |
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| Resources expended | ||||||||||
| Resources expended
are recognised on an accruals basis. They are allocated to activities based
on actual usage and time spent. Establishment and support costs are all
allocated to the activity of provision of client care as no other activity
uses a significant amount of such facilities. Costs of activities in furtherance of the charity’s objects comprise those costs incurred by the charity as a result of the delivery of its service. Costs of generating funds comprise the costs associated with attracting voluntary income. Governance costs comprise those costs incurred by the charity in meeting its constitutional and statutory requirements. |
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| Fixed assets | ||||||||||
| Tangible fixed assets are included in the balance sheet at cost less depreciation. | ||||||||||
| Depreciation | ||||||||||
| Depreciation is
calculated so that the cost of tangible fixed assets less their residual
value are written off over their estimated useful lives at the following
rates: Freehold property 2% straight line Equipment 25% written down value |
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| Restricted funds | ||||||||||
| The restricted funds represent the funds specifically earmarked for the charity's property and other projects, specified by the donor. | ||||||||||
| Unrestricted funds | ||||||||||
| Unrestricted funds are funds which can be utilised at the discretion of the trustees. | ||||||||||
| Page 11 | ||||||||||
| 2 | Restricted grants | |||||||||
| 2008 | 2007 | |||||||||
| £ | £ | |||||||||
| Day centre | ||||||||||
| BBC Children in Need | 28,758 | 25,590 | ||||||||
| Gyde Trust | 5,000 | 7,400 | ||||||||
| Henry Smith Charity | 5,000 | - | ||||||||
| Peter Lang Trust | 5,000 | 7,500 | ||||||||
| Lincoln Financial Group | 5,950 | 5,450 | ||||||||
| VITOL | 4,954 | - | ||||||||
| Big Lottery | - | 10,507 | ||||||||
| Prison Visitor Centre: | ||||||||||
| Zurich Community Trust | - | 2,000 | ||||||||
| The Tudor Trust | 8,000 | 6,500 | ||||||||
| Lloyds TSB Foundations | - | 5,000 | ||||||||
| 62,662 | 69,947 | |||||||||
| 3 | Resources expended | |||||||||
| 2008 | 2007 | |||||||||
| Unrestricted | Restricted | Total | Total | |||||||
| Notes | Funds | Funds | ||||||||
| £ | £ | £ | £ | |||||||
| Staff costs | 4 | 79,449 | 50,134 | 129,583 | 124,766 | |||||
| Depreciation | 241 | 5,384 | 5,625 | 4,952 | ||||||
| Independent accountants' fees | 1,000 | - | 1,000 | 940 | ||||||
| Other costs | 21,355 | 8,644 | 29,999 | 29,961 | ||||||
| 102,045 | 64,162 | 166,207 | 160,619 | |||||||
| No remuneration was paid to the trustees during the year and nor were there were any expenses reimbursed to trustees (2007 : £Nil). | ||||||||||
| Page 12 | ||||||||||
| 4 | Staff and trustees | |||||||||
| 2008 | 2007 | |||||||||
| Number | Number | |||||||||
| The average numbers of people employed by the | ||||||||||
| charity during the year were: | ||||||||||
| Fundraising | 1 | 1 | ||||||||
| Day centre | 9 | 9 | ||||||||
| Prison visitor centre | 1 | 1 | ||||||||
| 11 | 11 | |||||||||
| £ | £ | |||||||||
| Staff costs for the above persons: | ||||||||||
| Wages and salaries | 120,158 | 115,945 | ||||||||
| Social Security costs | 9,425 | 8,821 | ||||||||
| 129,583 | 124,766 | |||||||||
| There were no employees with emoluments of over £60,000. | ||||||||||
| 5 | Tangible fixed assets | |||||||||
| Freehold | ||||||||||
| land and | ||||||||||
| buildings | Equipment | Equipment | Total | |||||||
| Restricted Funds | Unrestricted | |||||||||
| £ | £ | £ | £ | |||||||
| Cost | ||||||||||
| At 1st April 2007 | 225,247 | 4,702 | 16,998 | 246,947 | ||||||
| Additions | - | 3,136 | - | 3,136 | ||||||
| At 31 March 2008 | 225,247 | 7,838 | 16,998 | 250,083 | ||||||
| Depreciation | ||||||||||
| At 1st April 2007 | 37,399 | 4,324 | 16,036 | 57,759 | ||||||
| Provided in year | 4,505 | 879 | 241 | 5,625 | ||||||
| At 31 March 2008 | 41,904 | 5,203 | 16,277 | 63,384 | ||||||
| Written down value | ||||||||||
| At 31 March 2008 | 183,343 | 2,635 | 721 | 186,699 | ||||||
| At 31st March 2007 | 187,848 | 378 | 962 | 189,188 | ||||||
| All fixed assets are used in direct furtherance of the Charity's objectives. | ||||||||||
| Page 13 | ||||||||||
| 6 | Analysis of Net Assets Between Funds | |||||||||
| Unrestricted | Restricted | Total | ||||||||
| £ | £ | £ | ||||||||
| Tangible Fixed Assets | 721 | 185,978 | 186,699 | |||||||
| Current Assets | 106,387 | 11,790 | 118,177 | |||||||
| Current liabilities | (3,550) | - | (3,550) | |||||||
| Net assets as at 31 March 2007 | 103,558 | 197,768 | 301,326 | |||||||
| 7 | Movement in Funds | |||||||||
| Opening balance | Incoming resources | Outgoing resources | Transfers | Closing balance | ||||||
| £ | £ | £ | £ | £ | ||||||
| Restricted funds | ||||||||||
| Day centre | ||||||||||
| BBC Children in Need | 4,687 | 28,758 | (28,617) | - | 4,828 | |||||
| Gyde Trust | - | 5,000 | (5,000) | - | - | |||||
| Henry Smith Charity | - | 5,000 | (5,000) | - | - | |||||
| Peter Lang Trust | - | 5,000 | (2,500) | - | 2,500 | |||||
| Lincoln Financial Group | 4,088 | 5,950 | (5,576) | - | 4,462 | |||||
| VITOL | 4,954 | (1,818) | (3,136) | - | ||||||
| Prison play area: | ||||||||||
| Zurich Community Trust | 2,000 | - | (2,000) | - | - | |||||
| The Tudor Trust | - | 8,000 | (8,000) | - | - | |||||
| Lloyds TSB Foundations | 267 | - | (267) | - | - | |||||
| Fixed Assets | 188,226 | - | (5,384) | 3,136 | 185,978 | |||||
| 199,268 | 62,662 | (64,162) | - | 197,768 | ||||||
| General Fund | 100,177 | 105,426 | (102,045) | - | 103,558 | |||||
| 299,445 | 168,088 | (166,207) | - | 301,326 | ||||||
| BBC Children in Need, Gyde Trust and Henry Smith Charity provide funds for the nursery, Peter Lang Trust for work with underprivileged children, Lincoln Financial Group for the healthy eating programme and VITOL for flood damage repair work. | ||||||||||