The trustees present their annual report and financial statements for the year ended 30 September 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 Articles of Association, 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's objects are to provide a safe environment for young carers aged 8 to 18 years, living within the county of Essex, to help reduce their isolation and enhance individual wellbeing by:-
Providing emotional support and respite to young carers.
Offering educational and social opportunities that will enhance personal life skills and improve well being.
Developing a network of support for young carers and their families, by working with local authorities, charitable organisations and other agencies to ensure young carers and their families receive the support that they are entitled to.
The policies adopted in furtherance of these objects have paid due regard to guidance issued by the Charity Commission.
Kool Carers South East Ltd continued to provide young carers aged 8 to 18 years, with a safe environment to gain professional support and reduce the feelings of isolation that so many were experiencing.
Whilst many of the young carers being supported had their own additional needs, the charity continued to witness an increase in the number of young carers living with neurodiversity. The families that the charity supported were experiencing physical and mental health issues, learning difficulties, drug and alcohol abuse, domestic abuse and poverty.
In the past year, Kool Carers has:
Provided support and additional intervention for 182 young carers and their families. This support included fortnightly Kool Carers Clubs, choir sessions, counselling, respite provision, which included a 5 day residential sailing trip for 15 young carers.
Continued to recognise the achievements of young carers by participating in the Jack Petchey Scheme.
Had to close its waiting list due to the numbers of referrals being received. At the stage of closing the waiting list we had 152 young carers wishing to access our provision. The waiting list remains closed, however there are now 71 young carers on the waiting list.
Continued support for parents/carers of young carers, including a monthly parents/carers group to reduce isolation and to create supportive peer networks; and information, advice and advocacy for families.
·Developed a mental-health programme entitled Being Kind to Body and Mind, which has been delivered to groups of parents, carers and separately to young carers. This programme focuses on providing the tools for participants to look at themselves, to understand who they are, the different facets of their identity and how to self-care. The feedback received was extremely positive and peer support groups have been developed as a result.
What we’re proud of;
The opening of our first charity shop in April 2024, which has been so welcomed by the local village community. The shop was opened in memory of a young carer, who attended Kool Carers provision, but who lost her battle with her own mental health. The shop is receiving generous donations from the local community, the sales of which are providing some additional financial stability to the charity. The shop has recruited 9 local volunteers, who are all committed and dedicated in making the shop a continuing and growing success.
The Charity has maintained its level of income for the year at £237,163, which has resulted in the accounts showing a small surplus of £1,919. The Charity retains reserves of £132,669 comprising £61,746 of restricted funds and £70,923 of general funds.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The organisation is a company limited by guarantee and a registered charity. The charity was registered as a charity as of 2 July 2018.
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:
We confirm that new trustees are appointed by a quorum of existing trustees/directors at a general meeting. None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
The trustees have no associations or links with any other charities.
Young carers will be provided with a safe environment, to gain professional support, whilst having the opportunity to participate in tailored group activities, where they can develop life-skills, gain new knowledge, attend therapeutic interventions and respite opportunities. Kool Carers will work in partnership with young carers, their families and professionals in-order to safeguard, protect and secure positive outcomes for young carers.
Our vision for young carers; is a community where young carers no longer feel they have to care in the shadows, as they are able to develop positive relationships with young people, with whom they share an identity. Young carers will have increased self-confidence and enhanced resilience, which will improve individual emotional wellbeing and provide a foundation for them to build positive aspirations for the future.
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Kool Carers South East Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Kool Carers South East Ltd (the charity) for the year ended 30 September 2024.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
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 Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
We 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.
Raising funds
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.
Kool Carers South East Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 8 Alpha Business Park, Travellers Close, Welham Green, Herts, AL9 7NT, United Kingdom.
The financial statements have been prepared in accordance with the charity's Articles of Association, 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 £.
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.
Resources expended are included in the statement of the financial activities on an accruals basis, inclusive of VAT, which cannot be reclaimed.
Expenditure which is directly attributable to specific activities has been included in these categories. Where costs are attributable to more than one activity, they have been appointed across the cost categories on a basis consistent with the use of resources.
The trustees have adopted the policy of capitalising items in excess of £1,000.
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).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Stock consists of items donated for sale, along with wristbands.
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.
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.
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.
The average monthly number of employees during the year was:
The current year has employment costs of £133,391 (2023 : £113,543 )
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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)