REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 28 February 2021 |
for |
ST ANNA'S CHILDREN'S HOME |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 28 February 2021 |
for |
ST ANNA'S CHILDREN'S HOME |
ST ANNA'S CHILDREN'S HOME |
Contents of the Financial Statements |
for the Year Ended 28 February 2021 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 11 |
ST ANNA'S CHILDREN'S HOME (REGISTERED NUMBER: 07948626) |
Report of the Trustees |
for the Year Ended 28 February 2021 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019). |
OBJECTIVES AND ACTIVITIES |
Review of the Year |
One of the main focuses this year has been to survive the challenges that COVID 19 has created. The Ghanaian government ordered the closure of all schools from March 2020 to January 2021, allowing only students who were due to sit national exams to continue to attend. In compliance with this St Anna's Academy closed to all but 60 students for these 10 months. Due to the economic impact of the pandemic, and with some parents not being able to work due to lockdown, some families were not able to pay their school fees in full. We continued to allow these students to attend the school in order to try and minimise the negative effect the pandemic had on children and we will try to recover this income in the coming year. |
St Anna's Home became not only a locked down family space, but also a refuge for day orphans and a safe haven for women who struggled with domestic issues, working alongside the local authorities. We have therefore had much more wear and tear within the home and this meant there was more maintenance to sort. |
We have managed to continue very slowly with the ongoing development of the St Anna's Academy new build and going forward this will be our main focus in the coming years as St Anna's gets back on its feet and re-opens; following and sticking to all Government guidelines and advice. |
The school itself remains popular when open, looking after two hundred pupils full time who are fee paying, with a further forty-two attending on scholarships. Revenue generated by the school from fee paying pupils covers the cost of the scholarship pupils. The school employs thirty-six teaching staff when fully open, as well as two security men, a cleaner and an accountant. For the 10 months where only 60 children were allowed to attend school the staffing level dropped to 11 as less teachers were required. |
St Anna's Home currently has twenty-two permanent children under our care and many of the forty-two children who attend the Academy on a scholarship are also looked after and fed at the home being considered 'day orphans'. They are cared for by our three members of staff. The eldest five children will start University in September 2021. |
St Anna's continues to be a highly regarded school within the local community, and to work alongside local social services and welfare support to help re home, support and care for abandoned children. |
FINANCIAL REVIEW |
Reserves policy |
In the Trustees' view, the cash reserve should provide the charity with adequate financial stability to meet its running costs for a minimum of 6 months and the means for it to meet its charitable objectives in the short term. |
The trustees propose to maintain the charity's cash reserves at a minimum level of £5,000 in th UK account which is 6 months running costs after accounting for school fees received and have done so having regards to its manner of operation and of likely funding streams. |
The trustees review the amount of reserves that are required on an annual basis and more regularly if necessary, to ensure that they are adequate to fulfil the charity's continuing obligations. |
ST ANNA'S CHILDREN'S HOME (REGISTERED NUMBER: 07948626) |
Report of the Trustees |
for the Year Ended 28 February 2021 |
FUTURE PLANS |
Last year St Anna's was in receipt of an extremely generous donation from a single donor in the UK. This donation is to cover the costs of finishing the school building. Due to covid this has been put on hold, but when the building continues the donor has said they will honour the rest of their donation to finish the academy. This now allows us to plough on with building soon without having to stop to fundraise and as such we can hope to complete this soon covid permitting. |
We will continue to support the children of St Anna's Home with all their needs, and to work with the social welfare office if we are asked to receive any new children. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Independent Examiner |
SD Business Management |
Suite 411 Baltic Chambers |
50 Wellington Street |
Glasgow |
Strathclyde |
G2 6HJ |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
St Anna's Children's Home |
Independent examiner's report to the trustees of St Anna's Children's Home ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2021. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Stephen Docherty |
FCCA |
SD Business Management |
Suite 411 Baltic Chambers |
50 Wellington Street |
Glasgow |
Strathclyde |
G2 6HJ |
15 August 2022 |
ST ANNA'S CHILDREN'S HOME |
Statement of Financial Activities |
for the Year Ended 28 February 2021 |
28.2.21 | 29.2.20 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 123,500 |
ST ANNA'S CHILDREN'S HOME (REGISTERED NUMBER: 07948626) |
Balance Sheet |
28 February 2021 |
28.2.21 | 29.2.20 |
Unrestricted | Restricted | Total | Total |
fund | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 34,739 |
Restricted funds | 88,761 |
TOTAL FUNDS | 123,500 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
ST ANNA'S CHILDREN'S HOME (REGISTERED NUMBER: 07948626) |
Balance Sheet - continued |
28 February 2021 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
ST ANNA'S CHILDREN'S HOME |
Notes to the Financial Statements |
for the Year Ended 28 February 2021 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
ST ANNA'S CHILDREN'S HOME |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
2. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
28.2.21 | 29.2.20 |
£ | £ |
Depreciation - owned assets |
3. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 28 February 2021 nor for the year ended 29 February 2020. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 28 February 2021 nor for the year ended 29 February 2020. |
4. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
28.2.21 | 29.2.20 |
House Mother, Cooks, Teachers, Security |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
EXPENDITURE ON |
Charitable activities |
10,641 | - |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 47,854 | 92,698 |
ST ANNA'S CHILDREN'S HOME |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
fund | funds | funds |
£ | £ | £ |
TOTAL FUNDS CARRIED FORWARD | 34,739 | 88,761 | 123,500 |
6. | AMOUNTS PAYABLE TO INDEPENDENT EXAMINER |
Of the amounts paid to the independent examiner during the period, £660 related to the independent examination and £660 related to other accountancy services. |
7. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 March 2020 |
Additions |
At 28 February 2021 |
DEPRECIATION |
At 1 March 2020 |
Charge for year |
At 28 February 2021 |
NET BOOK VALUE |
At 28 February 2021 |
At 29 February 2020 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.21 | 29.2.20 |
£ | £ |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.3.20 | in funds | 28.2.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 34,739 | (3,072 | ) | 31,667 |
Restricted funds |
Purchase of Land | 5,285 | - | 5,285 |
School Building | 83,476 | (4,106 | ) | 79,370 |
(4,106 | ) |
TOTAL FUNDS | (7,178 | ) | 116,322 |
ST ANNA'S CHILDREN'S HOME |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
9. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 15,572 | (18,644 | ) | (3,072 | ) |
Restricted funds |
School Building | - | (4,106 | ) | (4,106 | ) |
TOTAL FUNDS | ( |
) | (7,178 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.3.19 | in funds | 29.2.20 |
£ | £ | £ |
Unrestricted funds |
General fund | 47,854 | (13,115 | ) | 34,739 |
Restricted funds |
Purchase of Land | 5,285 | - | 5,285 |
School Building | 87,413 | (3,937 | ) | 83,476 |
92,698 | (3,937 | ) | 88,761 |
TOTAL FUNDS | 140,552 | (17,052 | ) | 123,500 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 16,148 | (29,263 | ) | (13,115 | ) |
Restricted funds |
School Building | - | (3,937 | ) | (3,937 | ) |
TOTAL FUNDS | 16,148 | (33,200 | ) | (17,052 | ) |
ST ANNA'S CHILDREN'S HOME |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2021 |
9. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.3.19 | in funds | 28.2.21 |
£ | £ | £ |
Unrestricted funds |
General fund | 47,854 | (16,187 | ) | 31,667 |
Restricted funds |
Purchase of Land | 5,285 | - | 5,285 |
School Building | 87,413 | (8,043 | ) | 79,370 |
92,698 | (8,043 | ) | 84,655 |
TOTAL FUNDS | 140,552 | (24,230 | ) | 116,322 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 31,720 | (47,907 | ) | (16,187 | ) |
Restricted funds |
School Building | - | (8,043 | ) | (8,043 | ) |
TOTAL FUNDS | 31,720 | (55,950 | ) | (24,230 | ) |
10. | RELATED PARTY DISCLOSURES |