The Trustees present their annual report and financial statements for the year ended 29 April 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).
The objects are :-
1. To advance in life and relieve needs of children and young people through the provision of farm based activities designed to advance education and develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
2. To relieve the needs of people who are experiencing long term unemployment or who are recovering from physical or mental illness by providing farm based activities designed to develop their skills and improve their conditions of life.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
This year has been particularly busy for Cowran Care as we have worked throughout in a number of areas, targeting different groups.
1. Primary and Secondary schools
We have worked with a significant number of young people from local primary and secondary schools aged 10-16.
They are all either struggling in school with academic work, or not attending school at all because they cannot cope with the environment.
Many have mental health issues, or complicated home and social lives.
Some are involved in antisocial behaviour or with the Justice System. This area of work demands increasing use of our services in providing vocational qualifications and work practice.
Schools have increasing numbers of young people requiring alternative curriculum, to the point that this could become all consuming relative to our other target groups
This group is perhaps not the most needy when it comes to allocating our limited resources
2. Post 16 Education and Health Care Plan EHCP - Young people with Higher Level needs
We have ten resourced places with Westmorland and Furness Educational Services to deliver vocational training and support to a group of young people experiencing challenging needs in their progress to achieving their full potential both in their quality of life and direction towards employment, further training or volunteering
This area of work aligns readily to our original charitable goals and future direction.
We celebrate the success of these young people, who have achieved up to Level 2 Diploma qualifications, as well as huge improvements in confidence and resilience
3. Development of Youth Work
Holiday and Food Programme HAF
We have delivered successful programmes during Summer, Easter and Christmas holidays, for a number of years.
These are funded by Central Government to provide those entitled to Free School Meals with a mid-day meal during school holidays. This is for those up to 16 and as well as the meal involves a programme of youth work.
HAF has led us to recognise that the farm environment and our resources of staff and animals, open air and land are exceptional tools in working with young people more informally in Youth Work situations.
BETTER TOMORROW
We received our second year grant from BETTER TOMORROW in December, this is administered by Cumbria Community Foundation and supported by Cumbria Youth Alliance and a team of funders.
The goal of this initiative is to train a new generation of Youth Workers across Cumbria, increasing numbers and skills and extending the range of engagement of youth people
We have developed areas of youth work
A Saturday morning club known as ACARE
A volunteer based (16-25) work preparation project
An “After School” club is in the planning stage
ABC Awards provided our national accreditation and we had students progressing through the year on
3 L2 Diploma in Animal Care
6 L2 Certificate in Animal Care
11 L1 Certificate in Farm Animal Care
The Company provided work experience in a wide range of land-based activities, including Animal Care, Agriculture, Horticulture, Land Management.
All students received support in their life skills which enabled them to overcome their barriers to learning so that they can become economically active in their home communities.
Where appropriate, the Company obtains funding from schools or Local Authority sources for the service provided to young people under their care.
We continue to pay back the government supported Bounce Bank Loan scheme.
Grant funding is still scarce following COVID. We are very grateful to
Better Tomorrow £18,000
and we continue to be well supported by a Private Benefactor
The Trustees had set a target of having a reserve of three months expenditure by 2026. We assess that COVID has put this back to 2030.
The Finance Manager maintains a Risk Register, and this is reviewed by the Trustees annually
The charity is a company limited by guarantee.
The Company is governed by the Memorandum and Articles of Association adopted at a general meeting on 30 May 2014.
Trustees are appointed on the basis of the skills that they can bring to the Board of Trustees.
Mrs AM Diss MBE DL (Principal) is responsible for the day to day running of the Company and reports to the Board. She is supported by the Chairman, Finance Manager and Company Secretary.
The Board have appointed Mrs Lynne Murray to oversee those issues where a conflict of interest might arise.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The Trustees report was approved by the Board of Trustees.
I report to the Trustees on my examination of the financial statements of Cowran Care Ltd (the charity) for the year ended
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.
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
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
the financial statements have 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).
Investments
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Cowran Care Ltd is a private company limited by guarantee incorporated in England and Wales. .
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
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.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
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.
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.
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.
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:
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.
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).
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.
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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Charitable Expenditure
Charitable Expenditure
None of the Trustees received any remuneration or benefits from the charity during the year.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
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.
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.
There were no disclosable related party transactions during the year (2023 - none).