Charity registration number 1087865
Company registration number 04165317 (England and Wales)
NATIONAL PORTAGE ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
NATIONAL PORTAGE ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs J Rickman
Mrs T Harvey
Ms M Nouwens
Mrs R Deacon
Mrs P Fry
Mrs J Heath
Mrs J Chapman
Ms V Mistry
(Appointed 16 February 2024)
Secretary
Mrs P Fry
Charity number
1087865
Company number
04165317
Principal address
Kings Court
17 School Road
Hall Green
Birmingham
B28 8JG
Registered office
Kings Court
17 School Road
Hall Green
Birmingham
B28 8JG
Independent examiner
Griffiths Marshall
4th Floor
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH
NATIONAL PORTAGE ASSOCIATION
CONTENTS
Page
Trustees report
1 - 9
Independent examiner's report
10
Statement of financial activities
11
Balance sheet
12
Notes to the financial statements
13 - 24
NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on the 21 February 2001 and registered as a charity on the 6 August 2001. It was established under a Memorandum of Association, which established the objects of the charitable company and is governed under its Articles of Association. Under those articles:

 

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total number of such guarantors at 31st March 2024 was 504.

 

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mrs J Rickman

Mrs T Harvey

Ms M Nouwens

Mrs R Deacon

Mrs P Fry

Mrs J Heath

Mrs J Chapman

Ms V Mistry                (Appointed 16 February 2024)

 

Organisational Structure

The NPA has a Board of Trustees that undertakes to manage the business of the Association. The Trustees are representatives elected from the membership of the National Portage Association. The Chair is responsible for the day to day management of the Association, in liaison with the Office Manager

 

At both Board and Regional level, elected officers are drawn from members who may be parents/​carers and practitioners directly involved in Portage Services.

 

Board members fulfil their role in a voluntary capacity. Some aspects of the work are carried out by a small number of staff employed directly by or contracted by the NPA.

 

The Board is composed of up to 8 Trustees.

 

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The elected Board of Trustees comprises:

 

 

Trustees are also Directors of the Company.

 

Others in attendance at Board meetings at any time may include Regional Project Managers, the Conference Coordinator and the Office Manager.

 

The members of the Board are elected as follows:

 

 

 

 

Trustee Induction

New trustees undergo two orientation sessions one with the Chairperson to receive their induction pack and to be briefed on the committee and decision making process. The second session is with the Treasurer and Company Secretary to receive information on their legal obligations under charity and company law as well as internal financial processes. Trustees receive individual support from outgoing post holders. They are encouraged to attend appropriate training events where this will facilitate the understanding of their role.

Objectives and activities

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

 

The Charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

 

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Charity continues and that the appropriate training is arranged. It is the policy of the Charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Financial review

The statement of financial activities shows that the total assets less current liabilities of the charity at 31st March 2024 stood at £204,417 (2023 - £187,447).

 

Total incoming resources over the financial year were £92,866 (2023 - £79,268) and the total resources expended were £75,896 (2023 - £79,268). The result was a profit of £16,910 for the year to 31 March 2024 as against a loss for the previous year of £3,956.

 

Income:

Last year we reported a loss as, due to cut off issues, some of last year’s income was not invoiced until this financial year. The estimation is that £5,000 of income feel into this category which would reduce the actual profit for this financial year to around £12,000.

 

The budget for the year to 31 March 2024 was based on actual figures for the previous year, together with the indication at the time that we would not be holding a Development Day. However we had a very successful Development Day.

 

We had budgeted for two portage workshops but have been able to deliver three as well as carry out mentoring and there has also been an increase in portage workshop validation applications.

 

The rise in interest has also meant that we have exceeded our budget by a considerable margin with regard to bank interest received.

 

Expenditure:

We have been able to save money on the insurance by reviewing the level of cover required.

 

We have also been able to save a considerable amount on room hire and travel expenses by relocating the board meetings to a venue kindly offered to us free of charge.

 

We amended the articles to downgrade from a full audit to a review by and Independent Examiner which has saved in the region of £2,000.

 

Reserves policy

The Trustees follow an established policy. Designated funds have been set up to ensure that each area of work has sufficient funds set aside to ensure the smooth running of each activity. The value of each fund is assessed annually to determine whether it is at an appropriate level and transfers made where necessary. The cost of planned work and the potential liability determines the level of each designated fund. The unrestricted funds (the general reserve and the designated funds, excluding those invested in tangible fixed assets and stock) should be between 3 and 6 months of resources expended. The unrestricted funds stand at £117,875; budgeted expenditure for the year to 31 March 2024 is £66,530 and therefore the required reserves are between £16,632 and £33,265 for 24/25 as at 31 March 2024.

 

Investment policy

The present policy of the Trustees is to hold all funds in short-term interest-bearing accounts, having regard to the reserves policy and the liquidity requirements of the NPA. Although the Trustees were disappointed at the low interest rates available in the year on these accounts, it has received advice that it would be unwise to start to invest in longer term savings accounts at a time when cash flow requires careful oversight and management.

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

Planning for the Future

The NPA is focusing on core activities in their Business Plan:

 

 

The Portage Workshop and one day workshops are being used to form the basis of a commercial programme that it is hoped will provide the Association with a sustainable revenue stream. We are also looking into developing an additional income source of shorter training sessions.

 

Where possible and appropriate, funding will be requested from grant making trusts, although competition for such funding is fierce in the current economic climate, where charities have been losing central and local government funding. Additionally, the Covid-19 pandemic since March 2020 has added further pressure to availability of grant funding.

Approved by the Trustees on 26 April 2024 and signed on their behalf by:

 

 

 

 

 

Margje Nouwens, Treasurer

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -

Chair’s Report

 

The National Portage Association (NPA) is a national charity and an umbrella organisation that exists to ensure that high quality support is offered to Early Years children with Special Educational Needs and Disabilities (SEND) and their families. It does this through using a graded criterion to register Services and providing and monitoring high quality training for Portage and Early Years Practitioners. The NPA also runs a Stamp of Approval Scheme for Early Years Settings that indicates they are using the Portage Principles to support all the children in their care, particularly those with SEND.

 

The NPA has a Board of Trustees that undertakes management of the business of the Association. The Trustees are representatives elected from the membership. The Chair is responsible for the day-to-day management of the Association, in liaison with the Office Manager.

 

Board members fulfil their role in a voluntary capacity. Some aspects of the work are carried out by a small number of staff employed directly by or contracted by the NPA.

 

The NPA achieves its aims through: -

 

 

 

 

 

 

 

 

 

The Board continues to work on these aims, to ensure that they are met in the most appropriate ways that reflect current practice and thinking.

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -

Business Plan

 

The NPA sets a three year Business Plan which lays out what its intentions are to meet the aims of the organisation. The 2023-2026 Business Plan, comprises of fourteen Objectives, as set out below. Each Objective has a number of aims within it.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Some of the aims of these Objectives are already being implemented and many others are in progress. The Plan is reviewed on an annual basis.

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -

Training

 

The revision of the Portage Workshop has been completed and the new materials were launched at a meeting with Accredited Trainers (ATs) and Trainee Trainers (TTs) in September. The ethos of the model has been maintained with the main revision being in the modules Supporting the Development of Play and Positive Approaches to Children’s Behaviour. The number of references to the Early Years Foundation Stage across the workshop have been reduced to allow more time to focus on the Portage Principles. The feedback from those at the meeting was very positive with Trainers saying that they considered that the revised modules better reflected current practices and research. There will be a meeting in the autumn with ATs and TTs to review the revised workshop materials.

 

There continues to be a good attendance at workshops, with 66 being validated, one mentored and four commissioned by local authorities from the NPA.

10 students have enrolled on Level 3 Open Awards. This course is designed to support students to reflect on their practice, deepen their understanding of the Portage Principles and to further embed them in their work, A key element of the qualification is maintaining standards and ensuring quality. The course is suitable for anyone who has successfully completed the Portage Workshop including Parents, Carers and Early Years Practitioners working in early years provision and is completed under the supervision of a Mentor.   

IT Infrastructure and the Website

 

The Consultant who was appointed to completely overhaul the office IT infrastructure has almost completed this very large piece of work. This modernisation of the systems has led to improved efficiency of the office procedures and processes

 

Work on updating the website is taking place with most of the content being rewritten or updated. The new format has been agreed which will make it much simpler to navigate and also easier to access on mobile devices.

 

The Consultant has provided his services on a pro bono basis, for which the NPA is hugely indebted.

 

Service Registration and Membership.

 

Service registration and membership renewal both took place again in October in this financial year, which was a change from the previous way it was managed. The new system was successful as it streamlined the process for Services, Members and the office.

Development Day

 

The Development Day which was held in March 2024 took place with a range of interesting seminars, including

An inspirational keynote speech was delivered on “Looking At Autism as a Fruit Salad” which was both fascinating and thought provoking.

 

The Day was well evaluated, with feedback being that all of the seminars and the keynote speech were relevant and interesting.

Our thanks to the staff at the Priory Rooms for looking after us so well which ensured that the day went smoothly.

 

 

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -

Virtual Meetings

 

Virtual meetings for Members, Managers and Accredited Trainers continue to be well attended. These meetings give opportunities to share information and experiences and to networks with colleagues.

 

Social Media

 

The profile of the NPA across a number of social media platforms has increased tremendously again this year. The time and effort put in by those Trustees and by Emma, our Office manager, who have made this possible is much appreciated.

 

Membership, Registered Services and Stamp of Approval.

 

 

2022

2023

2024

 

 

 

 

Individual members

468

518

504

 

 

 

 

Registered Services

95

96

98

 

 

 

 

Stamp of Approval

29

29

26

 

Membership has dropped slightly this year, which is disappointing. Membership gives an opportunity to support the national voice of the NPA and quality assurance of Portage services so that they continue to deliver high quality teaching to future generations of children and families.

 

Registered Service numbers have increased slightly this year, which is very positive. This meets one of the aims on the Business Plan which is to increase the number of services so that more children and families can benefit from the Portage model.

 

The number of Stamp of Approval settings has also dropped slightly this year. The process and criteria for this award is under review and it is hoped that this will increase the numbers so that more settings are being supported to use the Portage Principles to underpin their work with children and families.

 

Visit by Her Royal Highness The Princess of Wales.

 

The NPA was honoured to be contacted by the office of the Princess of Wales as the Princess was interested in learning more about services and support for children with special educational needs and disabilities as part of her work with the Royal Foundation for Early Childhood. A member of the of the Board of the Royal Foundation recommended Portage as one of the best examples of intervention so the Princess was keen to visit to find out more about the support that it provides.

 

A visit took place to Kent Portage Service, where the Princess met children and families who are receiving Portage. The Princess spent time talking to individual families, showing great interest in their accounts of the benefits of Portage as well as clearly enjoying playing with the children! She also took time to talk to staff and expressed her admiration for the work that they do and the impact it has on the lives of children and families.

 

The visit was covered by national and local press, magazines such as Nursery World and Hello!, television and radio channels. Articles appeared in the papers and interviews with the NPA Chair were played on Radio Kent and GB news. The Nursery World magazine published a four page article on Portage, extolling the benefits of Portage.

 

Thanks

 

The NPA has a small office team, which is a great support to the Board, Members and Services They continue to maintain a very efficient service and the Board thanks Emma, Office Manager, Yvonne N, Finance Officer and Lauren, Office Administrator for their continued support and dedication to the NPA.

NATIONAL PORTAGE ASSOCIATION
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -

The Board welcomes Vina, who has been co-opted as Vice Chair of Training. Vina brings a wealth of knowledge with her, having been a Portage Practitioner, Portage Manager and an Accredited Trainer.

 

Finally, my thanks and appreciation go to the Trustees, Services and Members for their commitment and dedication to the NPA.

 

Signed on behalf of the Trustees on 15 October 2024

 

 

 

 

 

Janet Rickman, Chairperson

 

NATIONAL PORTAGE ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF NATIONAL PORTAGE ASSOCIATION
- 10 -

I report to the Trustees on my examination of the financial statements of National Portage Association (the Charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 that in any material respect:

1

accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Griffiths Marshall
4th Floor
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH
Dated: 15 October 2024
NATIONAL PORTAGE ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
25,156
-
25,156
19,764
-
19,764
Charitable activities
6
60,912
-
60,912
57,456
-
57,456
Other trading activities
4
1,326
-
1,326
624
-
624
Investments
5
5,472
-
5,472
1,424
-
1,424
Total income
92,866
-
92,866
79,268
-
79,268
Expenditure on:
Charitable activities
7
74,896
1,000
75,896
83,024
200
83,224
Total expenditure
74,896
1,000
75,896
83,024
200
83,224
Net income/(expenditure) and movement in funds
17,970
(1,000)
16,970
(3,756)
(200)
(3,956)
Reconciliation of funds:
Fund balances at 1 April 2023
171,332
16,115
187,447
175,088
16,315
191,403
Fund balances at 31 March 2024
189,302
15,115
204,417
171,332
16,115
187,447

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

NATIONAL PORTAGE ASSOCIATION
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
14
116
155
Current assets
Debtors
15
9,262
12,537
Cash at bank and in hand
217,886
195,072
227,148
207,609
Creditors: amounts falling due within one year
16
(22,847)
(20,317)
Net current assets
204,301
187,292
Total assets less current liabilities
204,417
187,447
The funds of the Charity
Restricted income funds
18
15,115
16,115
Unrestricted funds
19
189,302
171,332
204,417
187,447

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 15 October 2024
Mrs J Rickman
Trustee
Company registration number 04165317 (England and Wales)
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
1
Accounting policies
Charity information

National Portage Association is a private company limited by guarantee incorporated in England and Wales. The registered office is Kings Court, 17 School Road, Hall Green, Birmingham, B28 8JG.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

 

The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4
Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 14 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit 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.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recorded on the accruals basis and liabilities are included when the legal obligation has been created.

 

Expenditure in charitable activities represents the costs incurred in carrying out the charitable objectives of the project.

 

Governance costs represent the cost of general administration functions of the charity

 

Basis of apportionment of expenditure:

 

- Staff costs are allocated on a basis of time spent on each category of activity.

- Premises costs are allocated by floor area used for the activity.

- Depreciation provision is allocated on the basis of use of the assets.

- All other overheads are allocated to projects as a percentage of direct expenditure.

 

As a registered charity, the activities are generally except from Income Tax and Capital Gains Tax in connection with its direct charitable purpose, but not from VAT.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 15 -
1.9
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
25,156
19,764
Donations and gifts
General
3,316
1,420
Gift Aid
526
270
Members Subscriptions
21,314
18,074
25,156
19,764
4
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Other income
1,326
624
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
5,472
1,424
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
6
Income from charitable activities
Conferences & training
Registration of portage services
Total
Conferences & training
Registration of portage services
Sales of training & information publications
Total
2024
2024
2024
2023
2023
2023
2023
£
£
£
£
£
£
£
Sales of goods & services
46,685
14,227
60,912
45,558
9,930
1,968
57,456
Analysis by fund
Unrestricted funds
46,685
14,227
60,912
45,558
9,930
1,968
57,456
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
7
Expenditure on charitable activities
Conference & training
Registration of portage services
Training & information publications
Voluntary income & activities for generating funds
Total
2024
2024
2024
2024
2024
£
£
£
£
£
Direct costs
Training fees
2,011
-
-
-
2,011
Cost of goods sold/written off
174
20,610
95
-
20,879
Travel
330
-
-
-
330
Miscellaneous
472
-
-
-
472
Donations
303
-
-
-
303
3,290
20,610
95
-
23,995
Grant funding of activities (see note 8)
-
-
-
1,000
1,000
Share of support and governance costs (see note 10)
Support
21,477
11,454
4,295
10,500
47,726
Governance
1,651
254
381
889
3,175
26,418
32,318
4,771
12,389
75,896
Analysis by fund
Unrestricted funds
26,418
32,318
4,771
11,389
74,896
Restricted funds
-
-
-
1,000
1,000
26,418
32,318
4,771
12,389
75,896
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
7
Expenditure on charitable activities
(Continued)
- 19 -
Previous year:
Conference & training
Registration of portage services
Training & information publications
Voluntary income & activities for generating funds
Total
2023
2023
2023
2023
2023
£
£
£
£
£
Direct costs
Training fees
15,970
-
-
-
15,970
Cost of goods sold/written off
362
-
632
186
1,180
Travel
10,994
-
-
-
10,994
27,326
-
632
186
28,144
Grant funding of activities (see note 8)
-
-
-
200
200
Share of support and governance costs (see note 10)
Support
18,861
10,059
3,772
9,221
41,913
Governance
6,743
1,037
1,556
3,631
12,967
52,930
11,096
5,960
13,238
83,224
Analysis by fund
Unrestricted funds
52,930
11,096
5,960
13,038
83,024
Restricted funds
-
-
-
200
200
52,930
11,096
5,960
13,238
83,224
8
Grants payable
Voluntary income & activities for generating funds
Voluntary income & activities for generating funds
2024
2023
£
£
Grants to institutions:
Other
1,000
200
9
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,384
2,000
Depreciation of owned tangible fixed assets
39
52
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
10
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Depreciation
39
-
39
44
8
52

Premises Expenses

8,700
-
8,700
8,400
-
8,400

General Office

38,982
-
38,982
33,331
-
33,331

Bank Charges

5
-
5
139
-
139
Audit fees
-
1,384
1,384
-
2,000
2,000
Legal and professional
-
200
200
-
-
-

Travel

-
1,592
1,592
-
2,027
2,027

General Office

-
-
-
-
5,883
5,883

Misc

-
-
-
-
434
434

Depreciation

-
-
-
-
2,592
2,592

Bank Charges

-
-
-
-
24
24
47,726
3,176
50,902
41,914
12,968
54,882
Analysed between
Charitable activities
47,726
3,175
50,901
41,913
12,967
54,880
Governance costs includes payments to the independent examiner of £1,384 (2023 - £2,000) for independent examination.
11
Trustees

In accordance with the Charity's Memorandum of Association, agreed with the Charity Commission, up to five Trustees may receive reasonable payment for work in respect of the Charity's Training for Trainers course and PW Validation. In the financial year no one Trustee received payment (2023 - One - £3,600).

 

Out of Pocket Expenses were reimbursed to trustees during the year as follows:

 

Travel to Board Meetings    £965    (2023 - £2,027)

12
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
3
3

During the year no members of staff were paid in excess of £60,000

There were no employees whose annual remuneration was more than £60,000.
13
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
14
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 April 2023
6,482
At 31 March 2024
6,482
Depreciation and impairment
At 1 April 2023
6,327
Depreciation charged in the year
39
At 31 March 2024
6,366
Carrying amount
At 31 March 2024
116
At 31 March 2023
155

 

15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,265
12,537
Other debtors
997
-
9,262
12,537
16
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
3,305
1,526
Trade creditors
252
2,781
Other creditors
14,219
13,228
Accruals and deferred income
5,071
2,782
22,847
20,317
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
17
Deferred income
Deferred income is included in the financial statements as follows:
2024
2023
£
£
Accredited trainer fees 2021-22
720
720
Postponement Trainers Forum
747
747
Postponement Portage Workshops
-
61
Other deferred income
7,067
6,700
Cumbria Mentoring
-
5,000
Helen George
185
-
Brighter Futures
5,500
-
14,219
13,228
18
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023
Resources expended
At 31 March 2024
£
£
£
Conference
4,388
-
4,388
Rosie's Fund
10,171
(1,000)
9,171
Kushlick Legacy
414
-
414
Service Donations
1,142
-
1,142
16,115
(1,000)
15,115
Previous year:
At 1 April 2022
Resources expended
At 31 March 2023
£
£
£
Conference
4,388
-
4,388
Rosie's Fund
10,371
(200)
10,171
Kushlick Legacy
414
-
414
Service Donations
1,142
-
1,142
16,315
200
16,115
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 23 -
19
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023
Incoming resources
Resources expended
Transfers
At 31 March 2024
£
£
£
£
£
Stock book
262
-
-
-
262
Fixed assets
154
-
-
(39)
115
Training development reserve
19,839
-
-
-
19,839
General funds
151,077
92,866
(74,896)
39
169,086
171,332
92,866
(74,896)
-
189,302
Previous year:
At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
Stock book
262
-
-
-
262
Fixed assets
206
-
-
(52)
154
Training development reserve
19,839
-
-
-
19,839
General funds
154,781
79,268
(83,024)
52
151,077
175,088
79,268
83,024
-
171,332
20
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
116
-
116
Current assets/(liabilities)
189,186
15,115
204,301
189,302
15,115
204,417
NATIONAL PORTAGE ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20
Analysis of net assets between funds
(Continued)
- 24 -
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
155
-
155
Current assets/(liabilities)
171,177
16,115
187,292
171,332
16,115
187,447
21
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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