Family Education Trust (Family & Youth Concern) Charity Accounts 2009

download Family Education Trust  (Family & Youth Concern) Charity Accounts 2009

of 13

Transcript of Family Education Trust (Family & Youth Concern) Charity Accounts 2009

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    1/13

    1ol-O 5 315 l-De c~- 017

    Registered No. 3503533 (England and Wales)Registered Charity No. 1070500

    ~V 3 JUL 10'

    FAMILY EDUCATION TRUST(A COMPANY LIMITED BY GUARANTEE)

    TRUSTEES" REPORTANDFINANCIAL STATEMENTSFOR THE YEAR ENDED 31ST DECEMBER 2009

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    2/13

    FAMILY EDUCATION TRUST(A COMPANY LIM ITED BY GUARANTEE)TRUSTEES AND OTHER INFORMATION

    Founder PresidentDirectors and Trustees

    ChairmanVice ChairmanDirectorCompany SecretaryTreasurerOffice address

    Auditors

    Mrs V RichesMr A CornellMrs V RichesBetty, Lady GrantchesterDr J K GulyMr G E HesterMr S J Ling FCADr J LimDr T StammersMr R Whelan

    Mr A CornellMr G E HesterMr N WellsMr S J Ling FCAMr S J Ling FCAJubilbe House, 19-21 High Street,Whitton, Twickenham TW2 7LBLedgers LimitedAirport HouseLancaster Suite 8Purley WayCroydonSurreyCR0 OXZ

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    3/13

    FAMILY EDUCATION TRUSTCONTENTS

    Trustees' reportStatement of f inancial activit iesBalance sheetNotes to the financial statementsAuditors' report

    Page1-3

    45

    6-9

    10

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    4/13

    FAMILY EDUCATION TRUST(A COMPANY LIMITED BY GUARANTEE)TRUSTEES' REPORTFO R TH E YEAR ENDED 31 DECEMBER 2009The Trustees have pleasure in presenting their report and financial statements for the year ended 31December 2009. The accounts have been prepared in accordance with the accounting policies se tout in Note 1 to the accounts and comply with the Charity's Memorandum and Articles of Association,the Compan ies Act 2006 and the Statement of Recommended Practice, "Accounting and Reportingby Charities", issued in March 2005.Structure, Governance and ManagementThe Char ity is incorporated as a company limited by guarantee with a Memorandum and Art ic les ofAssociation.The Trustees during the year are listed on the preceding page.An Executive Commit tee, which includes all the Trustees, manages the Trust. In addition to theTrustees, the following were members of the Executive Committee during the year:Mrs A AllenMrs S CarterMrs A LinesMrs G WhiteMrs F WyattAll the members of the Executive Committee are members of the Company but have no beneficialinterest.Trustees and members of the Execut ive Committee are elected at the Annual General Meeting of theCompany and may serve for three years without being re-elected.The Trustees meet once every quarter and receive repor ts from Chairman; the Director, who isresponsible for the day to day running of the Charity, and from the Honorary Treasurer. There is oneother member of staff - a research and administrative assistant.There are no connected charities.The T rustees have reviewed the r isks facing the Charity and taken appropr ia te s teps to ensure thatthe effects of the occurrence of any risk are mitigated or eliminated.Statement of Trustees' Responsibil it iesCompany and Charity law requires the Trustees to prepa re f inancial statements for each financialyear which g ive a true and fair view of the state o f affairs o f the company and of the profit or loss o fthe company for that period. In preparing those financial statements, the Trustees are required to:- select suitable accounting policies and then apply them consistently;- make judgements and estimates that are reasonable and prudent;- prepare the f inancial statements on the going concern basis unless it is inappropriate to presumethat the company will continue in operation.The Trustees are responsible for keeping proper accounting records which disclose with reasonableaccuracy at any time the financial position of the company and to enable them to ensure that thefinancial statements comply with the Companies Act 2006 and the Charities Act 1993. They a re a lsoresponsible for safeguarding the assets of the company and hence for taking reasonable steps for theprevention and detection of fraud and other irregularities.

    -1 -

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    5/13

    FAMILY EDUCATION TRUST(A COMPANY LIMITED BY GUARANTEE)TRUSTEES' REPORTFOR TH E YEAR ENDED 31 DECEMBER 2009Objectives and ActivitiesThe principal objects of the Charity are:1. To establish, car ry out and promote research into the social, med ical and psychologicalconsequences of sexual behaviour and to publish and disseminate the information and dataobtained therefrom.2. To establish, carry out and promote research into the fami ly founded on marriage and to pub lishand disseminate informat ion and data obtained therefrom.The Annual Genera l Meet ing and Conference featured addresses by Professor Dennis Hayes on"The Dangerous R ise of Therapeutic Education" and Professor David Paton on "Teenage Pregnancy- Dissecting the Evidence".The Trust continued to moni tor trends in society affecting the family and the welfare of children andyoung people. During the course of the year, the Trust responded to several consultations andinquiries, including:

    the Youth Citizenship Commission consultation paper, Old enough to make a mark?Should the voting age be lowered to 16? the independent review o f home education conducted by Graham Badman; the draft General Teaching Council code of conduct and practice; the Department for Children, Schools and Famil ies consultation on Children, YoungPeople and Alcohol; the Broadcast Committee of Advertising Practice (BCAP) Code Rev iew consultation onthe proposed BCAP Broadcast Advertising Standards Code; the Department for Children, Schools and Families questionnaire on Personal, Social,Health and Economic Educat ion which formed part of the curr iculum reform consultation; the Government's consultat ion on the Draft Legislat ive Programme; the Government Equalities Office consultation on the Equali ty Bill: Making it work; the Children, Schools and Families Select Committee inquiry into elective homeeducation; the Welsh Assembly Government consultation on its draft working paper, Sexual Healthand Wellbeing for Wales, 2009-2014; the Department for Children, Schools and Families consul ta tion on Home Education -registration and monitoring proposals.

    The Trust published four issues of the Family Bulletin, covering a range o f issues related to the familyand the welfare of chi ldren and young people.In January, the Trust published a new health education leaflet in its `STI Ale rt' ser ies, entitledChlamydia and You. During the summer it publ ished two new booklets: Education and Culture by IrinaTyk, and Too Much, Too Soon by Norman Wells.The Trust continued to offer advice and support to parents, tea chers and school governors,particularly in relation to growing concern about the character of sex education provision in schools.Achievement and performanceThe achievements during the year are as outlined in the preceding section. The need for society tosupport the family unit is recognised by many commen ta tors . T he Tru stees seek to increase theinfluence of our researched and well-informed approach insofar as can be achieved within the limits ofthe resources available to the Chari ty .

    -2-

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    6/13

    FAMILY EDUCATION TRUST(A COMPANY LIMITED BY GUARANTEE)TRUSTEES' REPORTFOR TH E YEAR ENDED 31 DECEMBER 2009

    Public benefitThe Trustees have had regard to the guidance published by the Charity Commissioners on the matterof pub lic benefit. The objectives of the Trust are directed towards the improvement of Society throughbetter understanding of the advantages of and threats to the stab ility o f family life, thereby benefitingsociety as a whole and young people in particular.Financial reviewThe Trust con tinues to operate and fund its activities on the basis o f donations, legacies, membershipsubscriptions and covenants as well as from the sale of educational literature.During 2009, income exceeded expenditure by 23,884 (2008 38,164). Investment income andvoluntary donations have been reduced, but a single generous legacy has partial ly compensated.However, the value of the investment portfolio increased by 38,875 (2008 reduced by 40,862).The Trustees seek to increase the Charity's reserves by at least 5,000 per annum out of normalactivities, and by the amount of any major grants or donations received specified or designated to befor endowment purposes, to a point at which basic running costs can be met f rom investment income.This would enable additional research projects to be undertaken on a regular basis from annualdonations. To reflect this aspiration, the Trustees have desig na ted part of the reserves as anendowment fund, comprising the investments and cer ta in long term deposits. A further 33,104 (2008-17,816) was transferred to this Fund during the year and it now stands at 290,515. These fundsare invested as part of our unrestricted funds.The Trustees have considered the most appropriate policy for investing funds and have found thatcommon investment funds for charities meet their requirements to generate both income and capitalgrowth. The Trustees consider that the long-term return on the investments is satisfactory.Plans for the futureThe Trustees in tend to continue to promote the Charit y's p rincipal objects as se t out above bypublishing leaflets, reports and books on topics that are of relevant and current interest and to monitorsocial and political trends and comment thereon in accordance with such objectsAuditorsEach of the Trustees has confirmed that there is no information of which they are aware which isrelevant to the audit, but of which the auditor is unaware. They have further confirmed tha t they havetaken appropriate steps to identify such relevant information and to establish that the auditors areaware of such information.This re ort was approved by the Board of Trustees and signed on their behalf.

    3 ~Simon J. Ling ~Secretary17 May 2010

    3

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    7/13

    FAMILY EDUCATION TRUSTSTATEMENT OF FINANCIAL ACTIVITIESFO R TH E YE AR ENDED 31ST DECEMBER 2009

    Notes 2009 2008 F

    Incoming resources from generated fundsDonations and grants 53,416 53,189Gift aided donations 18,073 23,283Legacies 12,483 -Income tax recoverable 4,675 7,292Other income 817 4,409Interest received 4,422 10,200Investment income 4,534 4,037

    98,420 102,410Incoming resources from charitable activitiesSales and h ire of videos - 39Sales of publications 3,479 2,764

    3,479 2,803Total incoming resources 101,899 105,213Resources expendedDirect charitable expensesVideo production 70 43Printing publications 3,074 1,940Research, premises and promotional costs 2 72,978 63,285

    76,122 65,268Governance costs 3 1,893 1,781Total resources expended 78,015 67,049Net income/(expenditure) for the year 23,884 38,164Statement of other recognised gainsChange in market va lue of investments 38.875 (40,862)Net movement in funds 62,759 (2,698)Fund balances brought forward at 1 January 326,483 329,181Fund balances carried forwardat 31 December 9 389,242 326,483The notes on pages 6 - 9 form part of these accounts

    4

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    8/13

    FAMILY EDUCATION TRUSTBALANCE SHEETAS AT 31 DECEMBER 2008

    Fixed assetsTangible assetsInvestmentsDeposits

    Current assetsStocksDebtorsBank balances

    Notes

    56

    7

    2009 2008

    732 375265,515 176,35665,966 117.477332,213 294,208

    4,597 3,6625,794 11,21947.731 18.44658,122 33,327

    Liabilities: amounts falling due 8 1,093 1,052within one yearNet current assetsTotal assets less current liabilities

    The funds of the charityGeneral fundDesignated endowment fund

    Appr,qfied by th - oard of Trustees on ?? May 2010 and signed on their by:f,

    III

    r'Co Simon J. LingChairman Hon TreasurerThe notes on pages 6 - 9 form part of these accounts

    9

    57,029 32,275 389,242 326,483

    98,727 107,863290,515 218,620

    389,242 326,483

    5

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    9/13

    FAMILY EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 31ST DECEMBER 2009

    1 Accounting policies1.1 Accounting convention

    The f inancial statements are prepared under the historical cost convention except for the inclusionof investments at market value, and in accordance with the Statement of Recommended Practicefor Charities.

    1.2 Donations legacies and other voluntary incomeIncome is included on the basis of amounts received, without accounting for amounts promised,pledged or accrued but not received, except for tax refunds due in respect of covenanted and gift aidincome received.

    1.3 Tangible f ixed assets and depreciationTangible fixed assets are stated at cost less depreciation. Depreciation is provided on OfficeEquipment at 25% per anum on the reducing balance in order to write off the cost less estimatedresidual value of each asset over its expected useful life.1.4 InvestmentsFixed asset investments are s ta ted a t their open market va lue at the accounting date.1.5 Stock

    Stock of publications and videos for resale is valued at the lower of cost and net realisable value.Cost comprises printing or reproduction costs only and excludes payments to authors or videoproduction costs.

    1.6 Unrestricted fundsIncoming resources receivable or generated for the objects of the Charity without further specifiedpurpose are available as general funds.

    1.7 Restricted fundsIncoming resources to be used for purposes specified by the donor. Expenditure which meets thecriteria is charged to the fund together with a fair allocation of management and support costs.

    1.8 Designated fundsUnrestricted funds earmarked by th e Trustees for specific purposes.

    6

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    10/13

    FAMILY EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSF OR T HE YEAR ENDED 31ST DECEMBER 2009

    2 Research, premises and promotional costs

    Wages and National InsuranceRent, rates and other property expensesTravellingTelephoneStationeryPostageGenera l off ice expensesConference expensesAdvertising and promotionPrinting bulletinConsultancy and researchSundries

    3 Governance costs

    Committee expensesInsuranceAudit feeLegal expensesBank chargesDepreciation of equipment

    2009 2008

    50,801 39,3218,993 11,009185 102769 880

    1,179 1,6153,965 3,321905 808

    1,794 1,833- 3243,801 3,336380 514206 222

    72,978 63,2852009 2008

    90 90427 397

    1,133 1,105- 64243 125

    1,893 1,7814 Staff costsNo trustees received any remuneration or reimbursement of expenses during the year

    2009 2008

    Employment costsWages and salaries includ ing Employer 's National insurance contributions 50,801 39,321The average number of staff employed during the year was 2.00 1.50

    7

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    11/13

    FAMILY EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFO R TH E YEAR ENDED 31ST DECEMBER 2009

    5 Tangible fixed assets

    CostAt 1 JanuaryAdditionsCost of disposalsAt 31 DecemberDepreciationAt 1 JanuaryCharge for the yearEliminated on disposalsAt 31 DecemberNet book valueAt 31 December

    6 Fixed asset investments

    Listed investmentsAt 1 JanuaryAdditionsChange in market valueMarket value at 31 DecemberHistorical cost at 31 December

    7 Debtors

    Debtors for sale of videos and publicationsRent depositTax recoverablePrepaid expenses

    Office equipment2009 2008 1,469 1,469600 -

    2-069 1,469

    1,094 969243 125

    1,337 1,094

    732 375

    2009 2008

    176,356 199,95950,284 17,25938,875 (40,862)

    265,515 176,356 232,822 182,538

    2009 2008

    18 302,012 2,0123,764 7,165- 2,012 5,794 11,219

    8

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    12/13

    FAMILY EDUCATION TRUSTNOTES TO THE FINANCIAL STATEMENTSFO R TH E YE AR E ND ED 31ST DECEMBER 2009

    8 Creditors: amount falling due within one year2009 2008

    Accruals 1,093 1,052

    9 Analysis of funds and allocation of assets 1,093 1,052

    The Trustees have designated part of the general unrestricted funds to be an endowment fund, to beinvested on a long term basis. The income from these investments will be used primarily for thegovernance o f the charity and then for general charitable purposes.The changes to the designated endowment fund for the year were as follows:as follows:

    2009 2008

    Transfer to/from General Fund 33,104 17,815Investment revaluation 38,875 (40,862)71,979 (23,047)

    Fund brought forward 218,536 241,583Fund carried forward 290,515 218,536The fund is now represented by the fol lowing assetsInvestments 265,515 176,356Deposits 25,000 42,180

    290,515 218,536The movements on General Fund were as follows:Fund brought forward 107,947 87,598Net income/(expenditure) fo r the year 23,884 38,164

    Less transfer to designated endowment 131,831 125,76233,104 17,815 98,727 107,947

    9

  • 8/2/2019 Family Education Trust (Family & Youth Concern) Charity Accounts 2009

    13/13

    FAMILY EDUCATION TRUST(A COMPANY LIMITED BY GUARANTEE)INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF FAMILY EDUCATION TRUST

    We have audited the accounts of Family Education Trust for the year ended 31 st December 2009 set out on pages4 to 8. These accounts have been prepared under the accounting policies set out on page 6.This report is made solely to the company's members, as a body, in accordance with Section 235 of the CompaniesAct 2006. Our audit work has been undertaken so that we m igh t state to the company's members those matterswe are required to state to them in an auditor's report and for no other pu rpo se . To the fullest extent permitted bylaw, we do not accept or assume responsibil ity to anyone other Than the company and the company's membersas a body, for ou r audit work, for this report, or for the opinions we have formed.Respective responsibilities of Trustees and AuditorsAs described on page 1, the Trustees, who are a lso the directors of Family Education Trust for the purposesof company law, are responsible for the preparing the Trustees' Report and the accounts in accordance withapplicable law and United Kingdom Accounting Standards (Uni ted Kingdom Generally Accepted AccountingPractice). Our responsibil ity is to audit the accounts in accordance with relevent legal and regulatory requirementsand International Standards on Auditing (UK and Ireland).We report to you our opinion as to whether the accounts give a true and fair view and are properly prepared inaccordance with the Companies Act 2006. We also report to ycu whether in our opinion the information given in theTrustees Report is consistent with the accounts, if the Charity has not kept proper account ing records, if we have notreceived all the information and explanations we require for our aud it , or if information specified by law regardingTrustees' remuneration and transactions with the Trust is not disclosed.We read other information contained in the Trustees' Report, and consider whether it is consistent with the auditedaccounts. We consider the implications for our repor t if we become aware of any apparent misstatements ormaterial inconsistencies with the accounts. Our responsibi li ties do not extend to other information.Basis of opinionWe conducted ou r audit in accordance with International Standards on Auditing (UK and Ireland) issued by theAuditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts anddisclosures in the accounts. It also inc ludes an assessment of Th e significant estimates and judgements made by thetrustees in the preparation of the accounts, and of whether the accounting policies are appropriate to the charity'scircumstances, consistently applied and adequately disclosed.We planned and performed our audit so as to obtain all the information and explanations which we considerednecessary in order to provide us with sufficient evidence to give reasonable assurance as to whether the accountsare free from material misstatement, whether caused by fraud or other irregularity or error. In form ing our opinion wealso evaluated the overall adequacy of the presentation of information in the accounts.OpinionIn our opinion:- the accounts give a true and fair view in accordance with United Kingom Generally Accepted AccountingPractice of the state of the Trust's affairs at 31 st December 2009 and of its incoming resources andapplication of resources in the year then ended;- the accounts have been properly prepared in accordance with the Companies Act 2006, and- the information given in the Trustees' Repo rt is consistent with the accounts.Ledg rs Li ted n 17 May 2010Cha rt ~toll ntants Airport House,Registered Au i or Purley Way, CroydonSurrey CR0 OXZ

    10