208. coui- children:our ultimate investment - accounts february 2010

7/31/2019 208. COUI- Children:Our Ultimate Investment - Accounts February 2010.

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REGISTERED CHARITY NUMBER: 1099782

YEAR ENDED 28 FEBRUARY 2010

FINANCIAL STATEMENTS

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

REGISTERED COMPANY NUMBER: 04001308

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BOARD OF DIRECTORS M Shaw

J A Nadolski (appointed 7 October 2009)

R J McIntosh (appointed 3 July 2009)

R A Johnson (appointed 26 March 2010)

COMPANY SECRETARY D Whitmore

COMPANY REGISTRATION NO. 04001308

REGISTERED OFFICE 47 Bermondsey Street

& PRINCIPAL ADDRESS LONDON

SE1 3XT

REGISTERED CHARITY NO. 1099782

AUDITOR MacIntyre Hudson LLP

Chartered Accountants

& Registered Auditors

Euro House 1394 High Road

London

N20 9YZ

BANKERS Barclays Bank plc

Southwark branch

29 Borough High Street

London

SE1 1LY

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ye 28 February 2010Inf & Ad


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THE DIRECTORS' REPORT


PRINCIPAL ACTIVITIES

CONSTITUTION OF THE CHARITY

CHARITY OBJECTIVES

The Charitys principal objectives are as follows:

To foster and support the education, health, opportunity and development of children and young people.

There has been no change in the Charitys objectives during the year.

The Charity continues to be run by the Board of Directors and Trustees

REVIEW FOR THE YEAR INCORPORATING ACHIEVEMENTS AND PERFORMANCE

Introduction

Progress and Key Achievements this Year

1. CC Works Charity Consultancy

The turndown in the economy has challenged many charit ies in the Third Sector and many have had to make across-the board

redundancies. Charities are receiving fewer donations and the general demand on all organisations is to look carefully at costs and

expenditure, making economies where they can. At COUI UK we, too, have felt the challenge and have worked hard to lower operating

and staff costs.

A large part of our work with Impetus was a three year business plan that is ambitious and intends to make up for the defic it of this

financial year. We feel confident that this next financial year will see COUI breaking even at the very least. Additonally, Impetus has

provided pro bono business expert associates in the following areas: finance, strategy consultants, HR, business development, PR andmarketing.

COUI commissioned CC Works consultancy to prepare a three year fundraising strategy for us. The author of this strategy, a senior

fundraiser, was then contracted to work three days a week with the charity. Already 145,000 corporate sponsorship from J P Morgan

has been achieved since the year end. The current objective for fundraising is to generate more grants and corporate donors to

supplement the cuts all local government bodies are experiencing.

COUI UK was successful in achieving success with its trial year partnership with Impetus and we are now forming a 3-5 year

partnership. The Impetus Trust applies a venture philanthropy model combining strategic funding and expertise to charities that have a

significant impact on the lives of economically disadvantaged people. We are grateful to have the opportunity of support from Impetus

to evolve from being a small charity (1 million turnover per year) to a medium sized one (3-4 miilion annual turnover).

2. Partnership with the Impetus Trust

The Board of Directors and the Trustees of Children: Our Ultimate Investment (UK) Limited for the purposes of charity law, have

pleasure in presenting their report together with the audited financial statements of the Charity for the year ended 28 February 2010.

The Charity is a company limited by guarantee and is governed by the Rules and Regulations of the Memorandum and Articles of

Association incorporated on 24 May 2000. The power of appointing and removing Directors and Trustees from the Board is vested in

the Board of Directors and Trustees. Membership is non-transferable and ceases upon death. A maximum of seven and a minimum oftwo members are required at all times.

The Charity has the power to invest monies, not immediately required for the furtherance of its objectives, in such investments,

securit ies or property as it thinks fit, subject to a statutory requirements. Currently the Charity has not invested any monies for

investment, but has surplus money transferred to a fixed rate deposit account with Barclays Bank Plc.

To meet these objectives the Charity continues to promote, initiate, develop and carry out education and training and arrange and

provide assistance at lectures, seminars and classes for children and young people. Its primary activity is the Teens & Toddlers project

and the Teens & Toddlers Sustainability Replication Programme.

With the ending of our major four year funding from the ARK (December 2009), COUI UK attempted to be as proactive as possible in

preparation for this. We have continued to maintain our growth and positive impact throughout the year. There has been further

strategic work done to ensure the long term sustainability of the Charity. These achievements have gone a long way towards the future

stability of COUI UK:

Children: Our Ultimate Investment (UK) Limited is a company limited by guarantee.

The principal activity of the Charity is to foster and support the education, health, opportunity and development of children and young

people.

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED Page 2

THE DIRECTORS' REPORT (CONTINUED)


REVIEW OF THE YEAR (continued)

Progress and Key Achievements this Year (continued)

3. National Development Manager

Conclusion

The charity plans to continue the activities outlined above in the forthcoming years, subject to satisfactory funding arrangements.

COUI UK is grateful to have received grants from: Esmee Fairbairn Foundation, ARK, City Bridge Trust, DCSF, Freemasons Grand Charity Trust, Dulveration Trust, Jack

Petchey Foundation, State Street, JP Morgan, Impetus and Pfizer.

Outcomes include:

- T&T Magazine: In order to offer a further development opportunity for graduates as well as to be able to send them useful information, COUI UK and 9 graduates worked

together to create a youth led magazine designed for other graduates. Funding T&T magazine was secured through a grant from CSV Mediabox. T&T magazine combines

information and advice with features on fashion, music and interviews with messages about safe sexual practice and awareness of emotional well being in a fun and youth

friendly format.

COUI UK's vision for TTYL and other youth development programmes is extensive: COUI would like to have the opportunity to offer graduates across the country the chance

to continue to be involved in local TTYL programmes that are youth led and tai lor made to sui t each local area's needs. COUI UK would l ike to offer a formalised and

accredited fol low on programme in Peer monitoring or Peer Education at level 2 to act as a follow on from the level 1 Certificate in Interpersonal Skills graduates earn from

participating in Teens and Toddlers.

Improved communications

Funded for three years by the DSCF, our National Development manager has been advised by the DSCF (now Deprtment of Education) on which of the local authorities have

the worst teenage pregnancy issues and how to target them. The Sainsbury's Family Trusts have approached us with a view to funding programmes in the North West and

forming a regional hub for Teens & Toddlers.

4. DCSF Evaluation Intensive Implementation of Teens and Toddlers Pilot

The DCSF commission Intensive Implementation Evaluation of Teens & Toddlers will be completed in July 2010. NatCen (National Centre for Social Research) and LSHTM

(London Schools of Hygiene and Tropical Medicine) wil l then take a year to track and further evaluate the impact of Teens & Toddlers and a report will be published in July

2011. If successful, the DSCF may invest substantially in Teens & Toddlers as one of the fewprogrammes in England that approaches teenage pregnancy prevention from a

youth development perspective raising aspiration, self esteem and educational attainment. The last Retrospective Tracking study of Teens & Toddlers graduates (2009)

showed that 91% of Teens & Toddlers graduates were still in education, employment or training and 98% under the age of 20 do not have a conception.

Education Officer

COUI UK's Teens and Toddlers Young Leaders (TTYL) programme has been piloting in London since May 2009 and is open to all graduates of Teens and Toddlers living in

London aged 13-19. TTYL has been developed in response to requests of graduates of Teens and Toddlers projects who have said that they would l ike to further youth

development opportuni ties that reinforse thei r learning f rom Teens and Toddlers and which would give them chances to be involved in making a dif ference to their

communities.

Aims of programme

With continued funding from Paul Hamlyn Trust, to further work with the Teens & Toddlers Young leaders programme for graduates, our Education Off icer has beensuccessful. I t continues to be our vision to support vulnerable at risk young people along a continuum of their development, start ing with Teens & Toddlers, continuing to

support their positive steps forward through to young adulthood, culminating in young leaders support and training.

Future plans

In order to improve communication and information sharing with graduates, COUI UK created a Facebook group exclusively for the use of graduates. Through the Facebook

group graduates receive a minimum of two messages a week in the formof a 'quoteof the week'as well as a link to helpful websites and sources. The Facebookgroup is also

used as a medium for informing graduates of upcomingevents and development opportunities. As of the end of October2009,145 graduates have signed up to the Facebook

group.

Additionally we have provided development opportunities to young people: Young Leaders meetings. These meetings were opportunities for graduates to meet one another

as well as to participate in workshops dedicated to topics of interest to graduates. Other activities include:

COUI is currentlydelivering programmes to 14 local Authorities. We have worked with almost 3,000 young people in a total of 19 local Authorities, and trained over 215 local

authority Teens & Toddlers facilitators.

- Peer Education project : Be in the kNOw is a project that uses drama, dance and improve to teach teens about sexual assertiveness and sexual rights; the int ial two

workshops to start off the project took place in October and many graduates attended.

In all of COUI UK's programmes there are still approximately 150 Teens & Toddlers Facilitators, 38 of them being in house staff senior facilitators. The Facilitator Training is

accreditated by ABC, who is recognised by the National Youth Agency, as a Diploma in Youth Work Level 3 and continues to be successful. With the Teens & Toddlersproject, for the National Award in Interpersonal Skills, we continue to have nearly 100% pass rate.

Although challenging and a deficit, with robust business planning we believe it has been a good year for COUI UK, supported by the Impetus Trust. The pro bono business

expertise provided by Impetus has enabled us to create a solid infrastructure to COUI for future growth and expansion. Annual research and evaluat ion continues to

demonstrate that Teens & Toddlers has a positive impact with the vulnerable and at risk young people served by our programmes.

Grants



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Our Vision

Our Aims Are:

Our Values

Public Benefit

The Trustees have given due consideration to the Charity Commission published guidance on the operation of the public

benefit requirements. All of our charitable activities focus on the empoering of young people and are undertaken to further

our charitable purposes for the public benefit.

* Accountability and transparency - to be self aware and self managing

* Love and service - to contribute to the community and make a difference

* Non-attachment to outcome - to appreciate the complexity of life

* Responsibility to embrace What Is - to learn to live in an ever changing world

"Our vision is that young people in the UK are given the opportunity to participate in a COUI programme so they

become empowered to make constructive decisions and achieve positive outcomes in their lives and are able to pass

on the benefit of their experience to others".

To become the recognised UK expert in teenage pregnancy prevention.

That the delivery of the Teens and Toddlers programme extends across the UK with the development of regional

'hubs' in areas of greatest need.

We work with young people through the following values, which honour the individual whilst recognising their

fundamental interconnectedness with society and their world. These values are expressed through our methods of

delivery, our relationships with young people and through our support of their development.

* Inclusivity and connection - to appreciate difference and our interconnectedness

* Honouring and empowering potential - to raise self esteem and aspiration

* Integrity - to act in ways congruent with a sense of self

That the value and benefits of our potential oriented approach to education and training become widely accepted and

in demand.

To involve and support our graduates as they broaden the reach and subsequent benefits of the teens and toddler

programme to the wider community and so build a sense of community service and purpose.

We believe in empowering transformational change in young people to enable them to become catalysts for change

through developing a self awareness that transcends the purely personal and deepens and widens an individual's

sense of well being and self reliance.



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Reserves Policy

The Charity needs reserves in order to:

* Finance fixed assets and day to day activities;

*

*

Management of Risk

Board of Directors

The Directors who served the Charity during this year were:

M Shaw J Nadolski (appointed 07 October 2009)

F Steel ( resigned 03 July 2009) R McIntosh (appointed 03 July 2009)

M Blake (resigned 03 July 2009) R A Johnson (appointed 26 March 2010)

Auditor

Small company provisions

Signed on behalf of the Board of Directors

D Whitmore

Company Secretary

Approved by the Board of Directors on

The Board of Directors has agreed the following reserves policy regarding the level of reserves it should maintain in order to meet the needs of the Charity:

Enable the Charity to cope financially during times of below average income and cover operational overheads and salaries for at least six months;

Have additional resources available to cope with revenue and capital requirements arising in the next few years to fulfil its charitable activities.

These financial statements comply with the Charitys governing document, the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2005) and

the Companies Act 2006.

This report has been prepared in accordance with the special provisions for small companies under part VII of the Companies Act 2006.

MacIntyre Hudson LLP are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

The present level of reserves and bank facilities are considered adequate to cover the present day to day working capital requirements.

In setting its budgets, level of charges for services and in negotiating the level of funding for grants, the Charity takes account of the need to maintain adequate reserves.

When reviewing annual budgets and accounts and periodic management accounts and cash flows, the Board of Directors monitors whether the level of income is appropriate to

establish and maintain reserves in line with this policy. This policy will be reviewed at least annually.

As of 28 February2010 accumulated funds were:283,959 (2009: 399,086), of which 258,943 (2009:341,986) were unrestricted fundsand 24.996 (2009: 57,100) were

restricted funds.

The Board of Directors regularly review the major risks to which the Charity is exposed arising from its operations and the environment. Systems are regularly reviewed and

procedures put in place to minimise these risks.



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STATEMENT OF BOARD OF DIRECTORS' RESPONSIBILITIES


- select suitable accounting policies and then apply them consistently;

- make judgements and estimates that are reasonable and prudent;

-

-

In so far as each and every director is aware:

- there is no relevant audit information of which the auditors are unaware; and

-

each and every director has taken all steps that they ought to have taken to make themselves aware of any relevant audit

information and to establish that the auditor is aware of that information.

The Board of Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any

time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies

Act 2006, the Statement of Recommended Practice for Accounting by Charities and the Charity's governing document. 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.

prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue

in operation.

Company law and Charity law requires the Board of Directors 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 surplus or deficit of income of the Charity for that year. In

preparing those financial statements, the Board of Directors are required to:

state whether applicable accounting standards and statements of recommended practice have been followed, subject to any

departures disclosed and explained in the financial statements;



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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED


RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS

BASIS OF AUDIT OPINION

OPINIONIn our opinion:

Christopher Jackson BSC FCA(Senior Statutory Auditor)For and on behalf of:

Euro House MacIntyre Hudson LLP1394 High Road Chartered Accountants &London N20 9YZ Statutory Auditor

Date:

We report to you our opinion as to whether the financial statements give a true and fair view, have been properly prepared in accordance

with United Kingdom Generally Accepted Accounting Practice, and have been prepared in accordiance with the Companies Act 2006. We

also report you whether in our opinion the information given in the Trustees' Annual Report is consiscent with those financial statements.

In addition we report to you if, in our opinion, the charity has not kept adequate accounting records, if the charity 's financial statements are

not in agreement with the accounting records and returns, if we have not received all the information and explanations we require for our

audit, or if certain disclosures of the trustees' remuneration specified by law are not made.

We read the Trtustees' Annual report and consider the implicaitions for our report if we become aware of any apparent misstatements within

it.

- the financial statements have been properly prepared in accordance with the Companies Act 2006; and

We have audited the financial statements of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2010 which

comprise [state primary financial statements such as the Statement of Financial Activities, the Balance Sheet, and the Cash Flow Statement]

and related notes. These financial statements have been prepared under the accounting policies set out therein.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our

audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an

auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other

than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

The trustees' (who are also the directors of the company for the purposes of company law) responsibilities for preparing the Trustees' Annual

Report and the financial statements in accordiance with applicable law and United Kingdom Accounting Standards (United Kingdom

Generally Accepted Accounting Practice) and for being satisfied that the financial statements give a true and fair view are set out in the

Statement of Trustees' Responsibilities.

Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International

Standards on Auditing (UK and Ireland).

- the financial statements give a true and fair view of the state of the charity's affairs as at 28 February 2010 and of its incoming resources

and application of resources, including its income and expenditure, for the year then ended;

- the financial statements have been properly prepared in accordance with United Kingdom Genneraly Accepted Accounting Practice;

We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An

audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes

an assessment of the significant estimates and judgements made by the trustee's in the preparation of the financial statements, and of

whether the accounting policies are appropriate to the charity's circumstances, consistently applied and adequately disclosed.

We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide

us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused

by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the

financial statements.

- the information given in the Trustees' Annual Report is consistent with the financial statements.



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STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 28 FEBRUARY 2010

2009

Restricted

Funds Total Total

Notes

INCOMING RESOURCES

Incoming resources from charitable activities:

Grants 1 - 330,497 330,497 376,355

Programme fees 1 - 594,392 594,392 669,242

Counselling fees 1 - 50,287 50,287 38,864

- 975,176 975,176 1,084,461

Voluntary & other income:

Investment income 1 - 589 589 22,990

Other incoming resources 1 - 1,225 1,225 1,553

TOTAL INCOMING RESOURCES - 976,990 976,990 1,109,004

RESOURCES EXPENDED

Charitable activities 2 5,013 1,076,978 1,081,991 955,472

Governance costs 2 10,146 10,146 10,967

TOTAL RESOURCES EXPENDED 2 15,159 1,076,978 1,092,137 966,439

NET INCOMING/(OUTGOING) RESOURCES

FOR THE YEAR BEFORE TRANSFERS (15,159) (99,988) (115,147) 142,565

Transfers between funds (67,884) 67,884 - -

NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR (83,043) (32,104) (115,147) 142,565

BEING NET INCOME/(EXPENDITURE) FOR THE YEAR

OTHER RECOGNISED GAINS AND LOSSES

Gains/(losses) on investments:

Realised gains/(losses) on investments - - - -

Unrealised gains/(losses) on investments - - - -

NET MOVEMENT IN FUNDS (83,043) (32,104) (115,147) 142,565

BALANCES BROUGHT FORWARD

AT 1 MARCH 2009 341,986 57,100 399,086 256,521

BALANCES CARRIED FORWARD

AT 28 FEBRUARY 2010 258,943 24,996 283,939 399,086

All operations are continuing.

There were no other recognised gains or losses.

2010

Unrestricted

Funds

2010 2010



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BALANCE SHEET

AT 28 FEBRUARY 2010

Notes

FIXED ASSETS

Tangible assets 5 8,733 9,059

CURRENT ASSETS

Debtors 6 287,025 273,161

Cash at bank and in hand 481,214 726,293

768,239 999,454

CREDITORS: Amounts falling duewithin one year 7 (493,034) (609,427)

NET CURRENT ASSETS 275,205 390,027

NET ASSETS 283,939 399,086

FUNDS

Unrestricted General fund 258,943 341,986

Restricted fund 8 24,996 57,100

283,939 399,086

Approved by the Board of Directors on

M Shaw

Director

4001308

These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 2006

relating to small companies, the Financial Reporting Standard for Smaller Entities (effective January 2008), the Charities Act

2006 and in accordance with the Statement of Recommended Practice 'Accounting by Charities' (SORP 2005).

20092010



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STATEMENT OF ACCOUNTING POLICIES


INCOME

FIXED ASSETS

Fixtures and fittings - 4 years straight line

Equipment - 3 years straight line

RESOURCES EXPENDED

OPERATING LEASES

FUND ACCOUNTING

charity.

The principal accounting policies which are adopted in the preparation of the financial statements are set out below:

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2008). The financial statements also comply with the Statement of

Recommended Practice for Accounting by Charities (SORP 2005), the Charities Act 2006 and the Companies Act 2006.

The Charity's income is derived from three main sources; grants, programme fees and investment income.

BASIS OF ACCOUNTING

CASH FLOW STATEMENT

Programme fees are recognised according to the period that the course covers and is on an accruals basis.

Recognition of grant income is on a receivable basis in conjunction with the grant rules and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2008).

Where grant payment is received in advance of projects being performed, the Charity recognises, as deferred income, a liability

equal to the amount received, representing its obligations to carry out the project. That liability is reduced and reported as

income as the project is performed. Where entitlement occurs before the grant is received the income is accrued.

Donations are included in income when received.

Unrestricted funds are available for use at the discretion of the Committee of Management in furtherance of the

Designated funds are unrestricted funds earmarked by the Committee of Management for particular purposes.

All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource.

Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis as set out in note 2.

All fixed assets are initially recorded at cost.

Expenditure is recognised on an accruals basis as a liability is incurred.

Rentals on operating leases where substantially all of the risks and rewards of ownership remain with the lessor are charged to

the SoFA on a straight line basis over the period of the lease.

Income from investments is recognised on a receivable basis.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and

include the audit fees and any costs linked to the strategic management of the Charity.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of i ts activities and services for its

beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature

necessary to support them.

The Board of Directors have taken advantage of the exemption in Financial Reporting Standard No. 1 from including a cash flow

statement in the financial statements on the grounds that the Charity is small.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life

of that asset as follows:

DEPRECIATION



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NOTES TO THE FINANCIAL STATEMENTS


Unrestricted Restricted Total Total

Funds Funds 2010 2009

1 INCOMING RESOURCES

Grants

ARK grant income - 107,424 107,424 188,750

Esmee Fairbairn Foundation - 19,494 19,494 28,500

Pfizer - Int - 27,273 27,273 -

Department of Health grant income - - - 11,487

Jack Petchey grant income - 21,635 21,635 147,618

DCSF - CYPF Natl Dev Mng - 41,688 41,688 -

Paul Hamlyn-Ed Officer 102,250 09-11 - 36,513 36,513 -

Awards for all Media Trusts & Terrace - 2,470 2,470 -

The Monument Trust - 24,000 24,000 -

Impetus Core Funding - 50,000 50,000 -

- 330,497 330,497 376,355

Programme fees

After Care Progs - 218,186 218,186 128,355

Stand Alone Progs - 54,213 54,213 35,043

Brent LA SP + Imterim Feb 08 - July 08 - 35,934 35,934 63,229

Brent LA Intensive SA Sep09- July11 - 13,250 13,250 -

Blackpool LA SP Sep 09 - Aug 10 - 37,193 37,193 -

City Bridge Trust 105k 3yrs - 35,000 35,000 17,500

Islington local authority feb08-july08 - - - 6,942

Lewisham LA SP Sept08-Aug09 - 26,750 26,750 26,750

Transition and mentoring - - 4,750

Enfield LA SP Sep08-Aug09 - 12,899 12,899 6,580

Haringey Stand Alone - - - 41,498

Intensive Imp Feb 09- Jan 10 - 51,242 51,242 7,772

Redcar LA SP Sep 07-Aug 08 - - - 23,750

Manchester SP - - - 34,015

Kent Local Authority and Garfield Match Funder - - - 76,083

Sutton local authority - - - 55,000

Northumberland local authority - - - 67,833

Wasall local authority - - - 64,167

Cambridge LA SP Feb09-Jan10 - 71,500 71,500 6,500

Freemasons-Cambridge MF - 24,475 24,475 2,225

Dulverton- Cambridge MF - 13,750 13,750 1,250

- 594,392 594,392 669,242

Counselling Fees

Counselling Service progs - 50,287 50,287 38,864

Total incoming resources from charitable activities - 975,176 975,176 1,084,461

Investment income:

Bank interest receivable - 589 589 22,990

Other income:

Donations - 1,150 1,150 1,453

HMRC online filing rebate - 75 75 100

- 1,225 1,225 1,553

TOTAL INCOMING RESOURCES - 976,990 976,990 1,109,004

Sustainabil ity Other T&T Total Total

projects Projects 2010 2009

2 RESOURCES EXPENDED

Teens and toddlers senior management salaries & NIC 36,205 114,717 150,923 147,997

Teens and toddlers facilitators and assistants 97,953 144,761 242,714 227,058

Teens and toddlers staff salaries & NIC 34,176 98,967 133,143 94,877

Teens and toddlers programme management salary & NIC 28,649 112,905 141,554 113,364

Teens and Toddlers Research Vouchers - 4,416 4,416 -

Teens and toddlers clinical services counselling 5,547 20,800 26,347 24,574

Teens and toddlers research costs 5,170 14,970 20,140 20,001

Teens and toddlers research officer & NIC - 36,292 36,292 32,021

Teens and toddlers business development manager & NIC - 52,136 52,136 30,730

Teens and toddlers facilitator and in house training 10,913 21,267 32,180 34,584

Teens and toddlers Donations - 130

Teens and toddlers Travel, Hotel & subs 3,376 17,463 20,839 53,876

Teens and toddlers course materials 1,718 12,308 14,026 18,626

Teens and toddlers supervision & quality assurance 509 7,750 8,259 4,695

Teens and toddlers national award accreditation 2,422 9,514 11,936 13,215

Teens and toddlers nursery expenses 67 1,747 1,815 6,708

Teens and toddlers counsellor supervision 4,967 17,141 22,108 6,508

Teens and toddlers mobile phone costs 165 1,030 1,195 1,793

Teens and toddlers postage & delivery 527 4,330 4,856 4,438

Teens and toddlers certificate ceremony award 396 1,385 1,781 -

Teens and toddlers room hire 290 2,018 2,308 146

Youth Panel programm costs - 4,655 4,655 -

Carried forward to page 11 233,050 700,572 933,623 835,341

Incoming resources from charitable activities:

Costs directly attributable to activities

Costs have been allocated against each activity directly where possible or otherwise based upon the number of projects and pro rata to the

number of months that each project fell into the financial year.



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NOTES TO THE FINANCIAL STATEMENTS (continued)


Sustainability Other T&T Total Totalprojects Projects 2010 2009

2 RESOURCES EXPENDED (CONTINUED)

Support costs allocated to activitiesBrought down from page 10 233,051 700,572 933,623 835,341

Rent & Rates 11,134 40,531 51,665 37,805Depreciation 2,739 8,048 10,787 9,854Fundraising, advertising and marketing 9,674 28,013 37,687 36,717Telephone 1,088 4,078 5,166 4,522Recruitment expenses 1,925 8,873 10,798 7,432Equipment hire & purchase 578 2,168 2,746 1,913Travel and subsistence 1,211 3,506 4,717 2,847Insurance 986 2,856 3,842 3,580Subscriptions, memberships and conferences 1,383 4,004 5,387 6,651

Building, cleaning, Security & Misc 253 733 987 -Bank charges 14 93 107 104IT software and web development 315 913 1,228 635Other 603 1,747 2,350 15Electricity 997 2,887 3,884 1,226Postage and stationery 1,199 4,497 5,696 5,428Legal and professional fees 186 537 723 707Criminal Records Bureau 154 446 600 695

Resources expended before governance costs 267,490 814,502 1,081,992 955,472

Governance costsAudit 5,750 - 5,750 7,000Legal and professional fees 1,955 - 1,955 3,106

Accountancy fees 861Trustee expenses 2,441 - 2,441

Governance costs 10,146 - 10,146 10,967

TOTAL RESOURCES EXPENDED 277,636 814,503 1,092,138 966,439

3 TOTAL RESOURCES EXPENDED

Staff Other Total Total

Costs Depreciation Costs 2010 2009

Charitable activities 540,394 10,787 530,811 1,081,992 955,472Governance costs - - 10,146 10,146 10,967

540,394 10,787 540,957 1,092,138 966,439

2010 2009

Included within charitable activ it ies are consultancy services and staff wages and salaries total ling: 540,394 443,563

540,394 443,563

The numbers of employees or consultants whose emoluments or payments for consultancy services for the year fell within

the following bands were: 2010 2009

60,000 to 69,999 1 1

Costs have been allocated against each activity based upon the number of projects and pro rata to the number of months that each project

fell into the financial year.



14/19




3 TOTAL RESOURCES EXPENDED (continued)

2010 2009

Other costs:Course and nursery costs 371,606 371,396Building costs 55,549 39,031Training 32,180 34,584Travel 4,717 2,847Advertising and marketing 37,687 36,717Printing, postage and stationery 5,696 5,428

Legal and professional 2,678 3,813Audit 5,750 7,000Accountancy 2,441 861

IT software and web development 1,228 635Insurance 3,842 3,580Telephone 5,166 4,522Equipment hire and purchase 2,746 1,913Miscellaneous 9,671 695

540,957 513,022

Direct charitable 11 11

11 11

4 DIRECTORS' AND OFFICERS' REMUNERATION AND EXPENSES

The Charity reimburses expenses incurred by all of the directors which are wholly and exclusively in connection withfulfilling their duties as officers of the Charity. The amounts involved are immaterial. No director received

remuneration from the Charity for their services as a director.

Consultancy and other payments made to employees in respect of expert services and duties are inculded in note

3. This included negotiating grant contracts, actively promoting the Charity and handling the day to day running ofthe Charity's affairs. All payments were made on normal commercial terms.



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5 TANGIBLE FIXED ASSETS

Fixtures

& Fittings Equipment Total

COST

At 1 March 2009 19,638 26,218 45,856

Additions 7,208 3,253 10,461

Disposals - - -

At 28 February 2010 26,846 29,471 56,317

DEPRECIATION

At 1 March 2009 14,797 22,000 36,797Charge for year 6,537 4,250 10,787

On disposals - - -

At 28 February 2010 21,334 26,250 47,584

NET BOOK VALUE

At 28 February 2010 5,512 3,221 8,733

At 1 March 2009 4,841 4,218 9,059

The fixed assets are used by the Charity for the furtherance of its objectives.

6 DEBTORS

2010 2009

Trade debtors 188,714 252,508

Other debtors 7,500 7,500

Prepayments and accrued income 90,811 13,153

287,025 273,161

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2010 2009

Trade creditors 98,028 15,570

Other taxation and social security 15,616 12,781

Accruals 9,211 30,201

Deferred income 370,179 550,875

493,034 609,427



16/19


NOTES TO THE FINANCIAL STATEMENTS(continued)


8 RESTRICTED FUNDS

Transfer1 March Prog. Esmee Jack DCSF Paul City Pfizer Impetus Sainsbury Other Utilised/ between 28 Feb

2009 fees ARK Fairbairn Petchey Hamlyn Bridge Monument Released funds 2010

Educational Trust TrustRestricted funds: officer

Bus iness Development manager 11,480 41687 (52,136) 1,031

Research officer - 19,494 (36,292) 16,798 -Youth Panel - 2,470 36,513 (39,123) 140 -

Counselling 1,353 50,287 (52,412) 772 -After care programmes 6,318 218,187 31,507 27,002 1,196 (383,523) 99,313 -Stand alone programmes - 67,464 6,240 5,346 123 (93,181) 14,008 -

Brent local authority 3,781 (3,781) -Islington local authority 1,062 (1,062) -Blackpool SP - 37,193 3,743 3,209 24,000 159 (73,245) 4,941 -Lewisham LA 24,577 26,750 3,743 21,635 3,209 74 (54,716) (25,272) -

Enfield LA SP - 12,899 3,743 35,000 3,209 74 (50,991) (3,934) -Brent LA SP - 35,934 1,872 1,604 37 (42,152) 2,705 -Haringey stand alone 2,459 (2,459) -Intensive Imp - 52,834 51,242 27,273 3,209 74 (110,671) 23,961Cambridge LA/ SP 6,070 109,725 3,743 3,209 74 (88,536) (34,285) -

-

57,100 560,909 107,425 19,494 21,635 92,929 36,513 35,000 27,273 49,997 24,000 1,811 (1,076,978) 67,884 24,992

9 RELATED PARTY TRANSACTIONS

10

OPERATING LEASES

At 28 February 2010 the Charity had the following annual commitment under non-cancellable operating leases:

2010 2009

Operating leases which expireWithin one year - -Within two to five years 47,500 45,000

47,500 45,000

11 COMPANY LIMITED BY GUARANTEE

Each member of the Charity has guaranteed to contribute up to 1 in the event of a winding up.

No other transactions with related parties wereundertakensuch as arerequired to be disclosedunder Financial Reporting

Standard 8, other than those included in note 4.

All of the restricted funds represent monies received that have been given specifically towards the advancement of the

Teens and Toddlers programme. The Teens and Toddlers programme focuses on addressing the problem of thehigh rateof teenage pregnancy in Britain and tackling the issues that put teenagers on the path to pregnancy. Teens and Toddlers

takes at risk teenagers on a 12 week journey of exploration built around twice weeklysessions withsmall childrenin a safe

nursery environment. The nursery experience is developed through classroom support sessions focusing on child

development, parenting skills, sexuality and relationships.

All surpluses on grants relating to projects in specific ares that have come to an end and where all conditions in respect of

the grant have been met have been transferred to unrestricted funds. Grants where there are no longer any conditions for

their specific use have been transferred to unrestricted funds accordingly.

COMMITMENTS

During he year, Mr M Shaw, a rusteeof hechari ty , hasclaimed2,332re la ting o ravel expenses werecharged o he

Statement of Financial Activities. These costs were on normal commercial terms.



17/19


SUMMARY FINANCIAL STATEMENT


The following pages do not form part of the statutory financial

statements which are the subject to the independent auditors' report

on page 6.

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2010NEW Accounts ye 28 February 201015


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AUDITORS' STATEMENT ON THE SUMMARY FINANCIAL STATEMENT


Independent Auditors' statement to the Board of Directors of Children: Our Ultimate Investment

(UK) Limited

We have examined the summary financial statement of Children: Our Ultimate Investment (UK) Limited

for the year ended 28 February 2010 as set out on page 17.

The Board of Directors are responsible for preparing the summarised annual report in accordance with

applicable United Kingdom law.

Our responsibility is to report to you our opinion on the consistency of the summary financial statement

within the summarised annual report with the full f inancial statements and Directors' Report and its

compliance with the relevant requirements of section 251 of the Companies Act 2006 and the regulations

made thereunder.

We also read the other information contained in the annual report and consider the implications for our

This report is made solely to the company's members, as a body, in accordance with Chapter 3 Part 16 of

the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's

members those matters we are required to state to them in an auditor's report and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the

company and the company's members as a body, for our audit work, for this report, or for the opinions we

have formed.

Respective Responsibilites of the Board of Directors and the Auditors

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201016

Basis of Opinion

Opinion

Christopher Jackson BSC FCA

(Senior Statutory Auditor)

Euro House For and on behalf of:

1394 High Road MacIntyre Hudson LLP

London N20 9YZ Chartered Accountants &

Statutory AuditorDate:

We conducted our audit in accordance with Bulletin 1999/6 'The auditors' statement on the summary

financial statement issued by the Auditing Practices Board. Our report on the company's full annual

financial statements describes the basis of our audit opinion on those financial statements.

In our opinion the summary financial statement is consistent with the full financial statements and the

Directors' report of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2010

and complies with the applicable requirements of section 251 of the Companies Act 2006, and the

regulations made thereunder.

financial statement.

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201016


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SUMMARY FINANCIAL STATEMENT

STATEMENT OF FINANCIAL ACTIVITIES


2010 2009

INCOMING RESOURCES

330,497 376,355

Programme fees 594,392 669,242

Couselling fees 50,287 38,864

Investment income 589 22,990Other incoming resources 1,225 1,553

TOTAL INCOMING RESOURCES 976,990 1,109,004

RESOURCES EXPENDED

Charitable activities 1,081,991 955,472Governance costs 10,146 10,967

TOTAL RESOURCES EXPENDED 1,092,137 966,439

NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR (115,147) 142,565

NET MOVEMENT IN FUNDS (115,147) 142,565

FUND BALANCES BROUGHT FORWARD 399,086 256,521

FUND BALANCES CARRIED FORWARD 283,939 399,086

BALANCE SHEET

AT 28 FEBRUARY 2010

TANGIBLE FIXED ASSETS 8,733 9,059

CURRENT ASSETS

Debtors 287,025 273,161Cash at bank and in hand 481,214 726,293

TOTAL ASSETS 776,972 1,008,513

CREDITORS: Amounts falling due within one year (493,034) (609,427)

TOTAL LIABILITIES (493,034) (609,427)

NET ASSETS 283,939 399,086

TOTAL FUNDS 283,939 399,086

M ShawDirector

Date:

Grants

These accounts are a summary of information extracted from the full annual accounts which have been audited and submitted to

the Charity Commission and the Registrar of Companies. These summarised accounts may not contain sufficient information to

allow for a full understanding of the financial affairs of the Charity. For further information, the full annual accounts, the auditors'

report on these accounts and the Directors' Report should be consulted. Copies of these can be obtained from Children: Our

Ultimate Investment (UK) Limited, 47 Bermondsey Street, London, SE1 3XT.

208. coui- children:our ultimate investment - accounts february 2010

Documents