209. coui - children our ultimate investment - accounts february 2011

7/31/2019 209. COUI - Children Our Ultimate Investment - Accounts February 2011.

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REGISTERED CHARITY NUMBER: 1099782

YEAR ENDED 28 FEBRUARY 2011

FINANCIAL STATEMENTS

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

F:\NLC\Chris Jackson\Children Our Ultimate Investment (UK) NL53099\WP\2011\Final docs to client\2011.08.16 28 February 2011.xls2011.08.16 28 February 2011.xlsFront


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BOARD OF DIRECTORS M Shaw

R J McIntosh

R A Johnson (appointed 26 March 2010)

A Clinch (appointed 26 November 2010)

S J Dark (appointed 31 March 2011)

COMPANY SECRETARY & D Whitmore

CHIEF EXECUTIVE OFFICER

COMPANY REGISTRATION NO. 04001308

REGISTERED OFFICE 47 Bermondsey Street

& PRINCIPAL ADDRESS LONDON

SE1 3XT

REGISTERED CHARITY NO. 1099782

AUDITOR MacIntyre Hudson LLPChartered Accountants

& Registered Auditor

Euro House

1394 High Road

London

N20 9YZ

BANKERS Barclays Bank plc

Southwark branch

29 Borough High StreetLondon

SE1 1LY


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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED Page 1

THE TRUSTEES' 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 OF THE YEAR INCORPORATING ACHIEVEMENTS AND PERFORMANCE

Introduction

Progress and Key Achievements this Year

2. Partnership with the Impetus Trust

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

COUI UK has executed on its 2010 strategy to employ a full t ime fundraiser to replace revenues that formerly came from Local Authorities with

income from trusts and corporate bodies. The fundraisers work is closely supported by the Chief Executive and has been extremely successful. On

25 February 2011 a Department for Education Grant for 488,000 over 2 years was confirmed, and in November 2010 COUI was selected as one of

the charities included in the Guardian and Observer Christmas Appeal. Central to our fundraising strategy is the generation of three-year grants for

core costs. We have been highly successful in this and 36% of our 2011 grant income has been pledged over 2, 3 or 4 year periods.

COUI UKs 3-year partnership with Impetus was signed in October 2010. Impetus has continued to support us with pro bono assistance and in

developing our strategies to extend our reach in future.

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

pleasure in presenting their report together with the audited financial statements of the Charity for the year ended 28 February 2011.

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

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 of two 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, securities or property

as it thinks fit, subject to 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 arranges and provides

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.

The downturn in the economy has challenged many charities 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.

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. The deficit of 115,146 in 2010 has been turned around to deliver a small surplus of 6,745 in 2011. This has been

achieved by:

1. Fundraising Strategy


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THE TRUSTEES' REPORT (CONTINUED)


REVIEW OF THE YEAR (continued)

Progress and Key Achievements this Year (continued)

4. Development of New Sales Models

8. Grants

6. North West Regional Hub

5. DCSF Evaluation Intensive Implementation of Teens & Toddlers Pilot

In order to strengthen our delivery capability we have finalised our plans to establish a local presence in the North West, (Manchester), by

working closely with a local not-for-profit organisation.

With continued funding from the Paul Hamlyn Trust, to further our work with the Teens & Toddlers Young leaders programme for graduates, the

Education Officer has been very successful. It continues to be our vision to support vulnerable at risk young people along a continuum of theirdevelopment, starting with Teens & Toddlers, continuing to support their positive steps forward through to young adulthood, culminating in

young leaders support and training. We are now in the process of developing a Level 2 NCFE Award programme for teens and toddlers

graduates and a 2 day SRE programme which confers a Level 1 NCFE Award.

In 2011 COUI delivered programmes to 20 Local Authorities. We have worked with over 3,500 young people in a total of 26 local authorities,

and trained over 215 local authority Teens & Toddlers facil itators.

In all of COUI UKs Programmes there are still approximately 150 Teens & Toddlers Facilitators, 38 of them being In House Staff Senior

Facilitators. The Facilitator Training is accredited 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 & Toddlers project, for the National Award in Interpersonal Skills, we continue to have nearly

100% Pass Rate.

COUI UK is grateful to have received grants from: Esmee Fairbairn Foundation, ARK, City Bridge Trust, Deptartment for Education, JP Getty

Foundation, Paul Hamlyn Trust, Drapers Company, Garfield Weston Foundation, Dulverton Trust, Portishead Nautical Trust, State Street Bank

and Trust Company, JP Morgan, Impetus, The Monument Trust and Pfizer. We were also nominated as one of the charities for the Guardian

and Observer newspaper Christmas Appeal. We are extremly grateful for the generosity of our supporters who are critical in helping us achieve

our aim to transform the lives of more young people.

Although another challenging year in the environment in which we operate has been fundamentally changed we believe it has been a good year

for COUI UK. The 2010 deficit has been converted to a break-even position this year whilst we have also significantly strengthened our

management team and executed on our fundraising strategy.

Conclusion

7. Education Officer

3. Cost Control Measures

The economic climate worsened in the year and we continued to scrutinise our cost structures and operating processes. As a result it was

necessary to make some staff redundant.

In response to the reduced availability of Local Authority funding we have developed new ways of accessing funds directly from schools as well

as fundraising activities.

The fieldwork for the Department for Education Intensive Implementation Evaluation of Teens & Toddlers was completed in July 2010 and the

final outcomes will be reported in April 2012. The last Retrospective Tracking study of Teens & Toddlers graduates (2010) showed that 93 % of

Teens & Toddlers' graduates were still in education, employment or training and 97.4% under the age of 20 do not have a conception.


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Our Vision

Our Aims Are:

Our Values

Public Benefit

"To inspire young people to achieve the skills, qualifications and self belief they need to succeed in education, work

and life. Our vision is a society where all young people feel valued, included and inspired to contribute to their

communities"

- For all young people to feel valued, included and inspired to contribute to their communities

- Inspiring young people to achieve their skills, qualifications and self belief they need to succeed in education and

life

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

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 individuals

sense of identity and being, bringing about an increased sense of well being and self reliance.

* 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

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 empowering of young people and are

undertaken to further our charitable purposes for the public benefit.


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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 R A Johnson (appointed 26 March 2010)

R J McIntosh A Clinch (appointed 26 November 2010)

J A Nadolski (resigned 15 February 2011) S J Dark (appointed 31 March 2011)

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 regularly reviews 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.

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.

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

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

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 s ix months;

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

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 February 2011 accumulated funds were: 290,685 (2010: 283,940), of which 287,382 (2010: 258,944) were unrestricted funds and 3,303 (2010:

24,996) were restricted funds.


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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

-

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;

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

Charity will continue in operation.

The Board of Directors are responsible for keeping adequate 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.

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.


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


RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS

OPINION ON FINANCIAL STATEMENTS

companies exemption in preparing the Trustees Annual Report.

Christopher Jackson BSC FCAEuro House (Senior Statutory Auditor)

1394 High Road For and on behalf of:London N20 9YZ MacIntyre Hudson LLPChartered Accountants &

Date: Statutory Auditor

we have not received all the information and explanations we require for our audit. or

the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the

We have audited the financial statements of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2011 which comprise

the Statement of Financial Activities and Income and Expenditure Account, the Balance Sheet and related notes. The financial reporting framework

that has been applied to their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (UnitedKingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the charitable 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 charitable 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

As explained more fully in the Trustees Responsibilities Statement set out on page 5, the trustees (who are also the directors of the charitable

company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a

true and fair view.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on

Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Boards (APBs) Ethical Standards for Auditors.

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that

the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the

accounting policies are appropriate to the charitable companys circumstances and have been consistently applied and adequately disclosed; the

reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements.

In our opinion the financial statements:

give a true and fair view of the state of the charitable companys affairs as at 28 February 2011 and of its incoming

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

have been properly prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities), and;

have been prepared in accordance with the requirements of the Companies Act 2006.

In our opinion the information given in the Trustees Annual Report for the financial year for which the financial statements are prepared is

consistent with the financial statements.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of trustees remuneration specified by law are not made; or

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

not visited by us; or


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STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 28 FEBRUARY 2011

2010Restricted

Funds Total Total

Notes

Incoming resources from charitable activities:

1 296,153 359,607 655,760 330,497

Programme fees 1 - 308,606 308,606 594,392Counselling fees 1 - 19,852 19,852 50,287

296,153 688,065 984,218 975,176

Voluntary & other income:

Investment income 1 - 142 142 589

Other incoming resources 1 - 2,305 2,305 1,225

TOTAL INCOMING RESOURCES 296,153 690,512 986,665 976,990

RESOURCES EXPENDED

Charitable activities 2 (0) 973,920 973,920 1,081,990

Governance costs 2 6,000 - 6,000 10,146

TOTAL RESOURCES EXPENDED 2 6,000 973,920 979,920 1,092,136

NET INCOMING/(OUTGOING) RESOURCES

FOR THE YEAR BEFORE TRANSFERS 290,153 (283,408) 6,745 (115,146)

Transfers between funds (261,715) 261,715 - -

NET INCOMING/(OUTGOINGS) RESOURCES FOR THE YEAR 28,438 (21,693) 6,745 (115,146)

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 28,438 (21,693) 6,745 (115,146)

BALANCES BROUGHT FORWARD

AT 1 MARCH 2010 258,944 24,996 283,940 399,086

BALANCES CARRIED FORWARD

AT 28 FEBRUARY 2011 287,382 3,303 290,685 283,940

All operations are continuing.

There were no other recognised gains or losses.

2011Unrestricted

Funds

2011 2011


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BALANCE SHEET

AT 28 FEBRUARY 2011

Notes

FIXED ASSETS

Tangible assets 5 4,677 8,733

CURRENT ASSETS

Debtors 6 217,993 287,025

Cash at bank and in hand 467,267 481,215

685,260 768,240

CREDITORS: Amounts falling duewithin one year 7 (399,252) (493,034)

NET CURRENT ASSETS 286,008 275,206

NET ASSETS 290,685 283,940

FUNDS

Unrestricted General fund 287,382 258,944

Restricted fund 8 3,303 24,996

290,685 283,940

Approved by the Board of Directors on

M Shaw

Director

Registered Company Number 04001308

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006

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

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

20102011


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STATEMENT OF ACCOUNTING POLICIES


FIXED ASSETS

Fixtures and fittings - 4 years straight line

Equipment - 3 years straight line

EXPENDITURE

OPERATING LEASES

FUND ACCOUNTING

Restricted funds are those subject to specific restrictions imposed by donors and funders. These are detailed in note 8.

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

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.

Unrestricted funds are available for use at the discretion of the Committee of Management in furtherance of the general objectives of the charity.

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

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 on an accruals basis.

Donations are included in income when received.

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 April 2008).

Income from investments is recognised on a receivable basis.

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.

The Board of Directors has 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:

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its 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.

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.

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.

DEPRECIATION


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NOTES TO THE FINANCIAL STATEMENTS


Unrestricted Restricted Total Total

Funds Funds 2011 2010

1 INCOMING RESOURCES

Grants

ARK - 40,909 40,909 107,424

Awards for all - 6,608 6,608 2,470

City Bridge Trust - 35,000 35,000 35,000Department for Education - 8,333 8,333 -

Department for Education Grant - 53,865 53,865 41,688

Department for Education Randomised Control Trial - - - 51,242

Drapers Company 8,000 - 8,000 -

Dulverton Trust 30,000 - 30,000 13,750

Esmee Fairbairn Foundation - 35,000 35,000 19,494

First Light Media Trust - 15,500 15,500 -

Freemasons' Grand Charity - - - 24,475

Garfield Weston Foundation - 2,500 2,500 -

Guardian Christmas Appeal 28,153 - 28,153

Impetus Trust 115,000 - 115,000 50,000

Jack Petchey - - - 21,635

JP Getty Foundation 70,000 - 70,000 -

JP Morgan - 38,325 38,325 -

Paul Hamlyn Trust - 30,340 30,340 36,513

Pfizer - 22,727 22,727 27,273

Portishead Nautical Trust - 1,500 1,500 -

State Street Bank and Trust Company - 10,000 10,000 -

The Monument Trust - 59,000 59,000 24,000

Trust wishing to remain anonymous 20,000 - 20,000 -Trust wishing to remain anonymous 25,000 - 25,000 -

296,153 359,607 655,760 330,497

Programme fees

After Care Programmes - 123,861 123,861 218,186

Stand Alone Programmes - 78,517 78,517 54,213

Brent - - - 35,934

Brent - 26,500 26,500 13,250

Blackpool - 45,967 45,967 37,193

Lewisham - - - 26,750

Enfield - - - 12,899

Bristol - 3,194 3,194 -

Sefton - 5,567 5,567 -

Salford - 14,000 14,000 -

Lamberth - 11,000 11,000 -

Wisbech - - - 71,500

- 308,606 308,606 594,392

Incoming resources from charitable activities:

Counselling Fees

Counselling Service progs - 19,852 19,852 50,287

Total incoming resources from charitable activities 296,153 688,065 984,218 975,176

Investment income:

Bank interest receivable - 142 142 589

Other income:

Donations - 2,305 2,305 1,150

HMRC online filing rebate - - - 75

- 2,305 2,305 1,225

TOTAL INCOMING RESOURCES 296,153 690,512 986,665 976,990

Sustainability Other T&T Total Total

projects Projects 2011 2010

2 RESOURCES EXPENDED

Teens and toddlers senior management salaries & NIC 1 10,959 122,309 133,268 150,922

Teens and toddlers facilitators and assistants 21,279 # 150,281 171,560 242,714

Teens and toddlers staff salaries & NIC 9,124 91,927 101,051 133,143

Teens and toddlers programme management salary & NIC 11,169 121,116 132,285 141,554Teens and toddlers research vouchers 468 3,280 3,748 4,416

Teens and toddlers clinical services counselling - 11,522 11,522 26,347

Teens and toddlers research costs 1,768 14,522 16,290 20,140

Teens and toddlers research officer & NIC 3,859 31,695 35,553 36,292

Teens and toddlers business development manager & NIC - 62,436 62,436 52,136

Teens and toddlers facilitator and in house training 3,800 9,412 13,212 32,180

Teens and toddlers donations - 100 100 -

Teens and toddlers travel, hotel & subsistence 6,146 15,292 21,438 20,839

Teens and toddlers course materials 6,656 5,804 12,460 14,026

Teens and toddlers supervision & quality assurance - 3,300 3,300 8,259

Teens and toddlers national award accreditation 1,036 9,884 10,920 11,936

Teens and toddlers nursery expenses 440 1,700 2,140 1,815

Teens and toddlers director of Operations - JP Gerry - 45,087 45,087 -

Teens and toddlers counsellor supervision - 20,904 20,904 22,108

Teens and toddlers CS BACP Recruitment - 1,716 1,716 -

Teens and toddlers mobile phone costs - 946 946 1,195

Teens and toddlers postage & delivery 893 1,848 2,741 4,856

Teens and toddlers certificate ceremony award 1,132 2,659 3,791 1,781

Teens and toddlers room hire 416 360 776 2,308

Teens and toddlers direct costs - 3,051 3,051 -Youth panel programme costs - 20,926 20,925 4,655

Carried forward to page 11 79,145 752,075 831,220 933,622

Costs directly attributable to activities

Costs have been allocated against each ac tivity 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 Total

projects Projects 2011 2010

2 RESOURCES EXPENDED (CONTINUED)

Support costs allocated to activitiesBrought down from page 10 79,145 752,075 831,220 933,622

Rent and rates 5,574 45,784 51,357 51,665Depreciation 440 3,616 4,056 10,787Fundraising, advertising and marketing 5,352 43,963 49,315 37,687Telephone 534 4,383 4,916 5,166Recruitment expenses - - - 10,798Equipment hire and purchase 96 787 883 2,746Travel and subsistence 57 471 528 4,717Insurance 435 3,575 4,010 3,842Subscriptions, memberships and conferences 382 3,137 3,518 5,387Building, cleaning and security 81 669 750 986

Bank charges - 249 249 107IT software and web development 94 768 862 1,228Other 240 1,991 2,232 2,350Electricity 403 3,310 3,713 3,884Postage and stationery 197 1,617 1,814 5,696Legal and professional fees 1,546 12,696 14,244 723CRB and Company House Returns - 253 253 600

Resources expended before governance costs 94,576 879,344 973,920 1,081,991

Audit 6,000 - 6,000 5,750Legal and professional fees - - - 1,955Accountancy fees - - - -

Trustee expenses - - - 2,441

Governance costs 6,000 - 6,000 10,146

TOTAL RESOURCES EXPENDED 100,576 879,344 979,920 1,092,137

3 TOTAL RESOURCES EXPENDED

Staff Other Total Total

Costs Depreciation Costs 2011 2010

Charitable activities 521,204 4,056 448,660 973,920 1,081,990Governance costs - - 6,000 6,000 10,146

521,204 4,056 454,660 979,920 1,092,136

2011 2010

Included within charitable activities are consultancy services and staff wages and salaries totalling: 521,203 540,393

521,203 540,393

The numbers of employees or consultants whose emoluments or payments for consultancy services for the year fell withinthe following bands were:

2011 2010

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.


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3 TOTAL RESOURCES EXPENDED (continued)

2011 2010

Other costs:Course and nursery costs 313,802 371,605Building costs 55,070 55,549Training 13,212 32,180Travel 528 4,717Advertising and marketing 49,315 37,687Printing, postage and stationery 1,814 5,696Legal and professional 14,244 2,678

Audit 6,000 5,750Accountancy - 2,441IT software and web development 862 1,228Insurance 4,010 3,842Telephone 4,916 5,166Equipment hire and purchase 883 2,746Miscellaneous (9,996) 9,671

454,660 540,956

Direct charitable 11 11

11 11

4 DIRECTORS' AND OFFICERS' REMUNERATION AND EXPENSES

The Charity reimburses travel expenses incurred by all of the directors which are wholly and exclusively in

connection with fulfilling their duties as officers of the Charity. There were no travel expenses reimbursed in the

year (2010: 2,332). 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 included aswages in note 2. This included negotiating grant contracts, actively promoting the Charity and handling the day to

day running of the 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 2010 and 28 February 2011 26,847 29,470 56,317

DEPRECIATIONAt 1 March 2010 21,334 26,250 47,584Charge for year 1,909 2,147 4,056

At 28 February 2011 23,243 28,397 51,640

NET BOOK VALUE

At 28 February 2011 3,604 1,073 4,677

At 1 March 2010 5,513 3,220 8,733

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

6 DEBTORS

2011 2010

Trade debtors 204,810 188,714Other debtors 7,500 7,500Prepayments and accrued income 5,683 90,811

217,993 287,025

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2011 2010

Trade creditors 21,580 98,028Other taxation and social security 13,873 15,616Accruals 8,229 9,211Deferred income 355,571 370,179

399,253 493,034

370,179 of the deferred income brought forward at 1 March 2010 was transferred to income during 2011.


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8 RESTRICTED & UNRESTRICTED FUNDS

B/f 1 March

2010 Restricted Funds

Unrestricted Funds

(Inc Other Income) Released Trfd Between Funds C/f 28 feb 2011

Bus Dev Mng 1,032 53,865 0 (66,639) 11,742 0

Esmee Fundraiser Fund 0 35,000 0 (34,858) 0 142

JP Getty Dop's Fund 0 0 70,000 (56,911) (13,089) 0

Youth Panel 0 52,448 0 (58,930) 6,483 0

Counselling 0 19,852 0 (21,747) 1,895 0

After Care 0 125,128 115,706 (287,355) 46,521 0

Stand Alone 0 89,018 43,828 (148,758) 15,912 0

Brent Intensive LA 0 61,714 21,038 (76,006) (6,746) 0

Sefton LA SP 0 5,585 1,753 (5,626) (1,711) 0

Blackpool LA SP 0 70,074 10,519 (63,958) (16,635) 0

Salford LA SP 0 49,107 10,519 (47,981) (11,645) 0

Lambeth LA SP 0 49,432 10,519 (35,160) (24,791) 0

Bristol LA SP 0 7,217 1,753 (5,808) 0 3,161

Intensive Imp 23,961 72,077 10,519 (64,183) (42,374) 0

TOTAL 24,993 690,516 296,153 (973,920) (34,438) 3,303

9 RELATED PARTY TRANSACTIONS

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 the high rate of 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 15-18 week journey of exploration built around weekly sessions with small children in 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.

The charity cooperates with the charity Psychosynthesis and Education Trust. Diana Whitmore, CEO of this charity, is a Trustee of Psychosynthesis and Education Trust.

Transactions between the two charities are on normal commercial terms.

10

OPERATING LEASES

At 28 February 2011 the Charity had the following annual commitment under non-cancellable operating leases:

2011 2010

Operating leases which expire:

Within one year 47,500 -

Within one to two years - 47,500

47,500 47,500

11 COMPANY LIMITED BY GUARANTEE

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

12 FUTURE TRADING AND THE CURRENT ECONOMIC CLIMATE

There were no expenses claimed by trustees during the current year (2010: 2,332).

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.

The Trustees consider that the income stream will continue as forecast and unplanned expenditure would be minimal. The going concern basis is therefore considered to

be appropriate as a basis of accounting.

COMMITMENTS


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.


18/19


AUDITORS' STATEMENT ON THE SUMMARY FINANCIAL STATEMENT


Independent Auditors' statement to the Board of Directors of Children: Our Ultimate Investment(UK) Limited

Respective Responsibilites of the Board of Directors and the Auditors

We have examined the summary financial statement of Children: Our Ultimate Investment (UK) Limited for the year ended 28

February 2011 as set out on page 17.

This report is made solely to the charitable 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 charitable 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 charitable company's members as a

body, for our audit work, for this report, or for the opinions we have formed.

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 financial statements and Trustees' Report and its compliance with the relevant requirements of

section 427 of the Companies Act 2006 and the regulations made thereunder.

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

we become aware of any apparent misstatements or material inconsistencies with the summary financial statement.

Opinion

Christopher Jackson BSC FCA(Senior Statutory Auditor)

Euro House For and on behalf of:1394 High Road MacIntyre Hudson LLPLondon N20 9YZ Chartered Accountants &

Statutory AuditorDate:

In our opinion the summary financial statement is consistent with the full financial statements and the Trustees' Report of

Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2011 and complies with the applicable

requirements of section 427 of the Companies Act 2006, and the regulations made thereunder.

We conducted our audit in accordance with Bulletin 2008/3 'The auditors' statement on the summary financial statement

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

basis of our audit opinion on those financial statements and on the Trustees' Report.


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SUMMARY FINANCIAL STATEMENT

STATEMENT OF FINANCIAL ACTIVITIES


2011 2010

INCOMING RESOURCES

655,760 330,497

Programme fees 308,606 594,392

Counselling fees 19,852 50,287

Investment income 142 589Other incoming resources 2,305 1,225

TOTAL INCOMING RESOURCES 986,665 976,990

RESOURCES EXPENDED

Charitable activities 973,920 1,081,990Governance costs 6,000 10,146

TOTAL RESOURCES EXPENDED 979,920 1,092,136

NET INCOMING/(OUTGOINGS) RESOURCES FOR THE YEAR 6,745 (115,146)

NET MOVEMENT IN FUNDS 6,745 (115,146)

FUND BALANCES BROUGHT FORWARD 283,940 399,086

FUND BALANCES CARRIED FORWARD 290,685 283,940

BALANCE SHEET

AT 28 FEBRUARY 2011

TANGIBLE FIXED ASSETS 4,677 8,733

CURRENT ASSETS

Debtors 217,993 287,025Cash at bank and in hand 467,267 481,215

TOTAL ASSETS 689,937 776,973

CREDITORS: Amounts falling due within one year (399,252) (493,034)

TOTAL LIABILITIES (399,252) (493,034)

NET ASSETS 290,685 283,940

TOTAL FUNDS 290,685 283,940

M ShawDirectorDate:

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 suff icient 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 Trustees' Report should be consulted. Copies of these can be obtained from Chi ldren: Our Ultimate Investment (UK) Limited, 47

Bermondsey Street, London, SE1 3XT.

209. coui - children our ultimate investment - accounts february 2011

Documents