a4 compaid accounts 2018 · 2018-07-19 · compaid trust charitable company number 3400811 with...

Compaid Trust

Charitable company number 3400811 with registered charity number 1064160

2

Trustees’ Report and Accounts

for the year ended 31 March 2018

Contents

Page(s)

3 Charity reference and administrative details

4-12 Report of the Trustees

13-14 Statement of Responsibilities of the Trustees

15-17 Independent Auditors’ Report

18 Statement of Financial Activities

19 Statement of Cash Flows

20 Balance Sheet

21-31 Notes to the Accounts

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Charity reference and administrative details

Registered and Principal Office

Unit 1, Eastlands, Maidstone Road, Paddock Wood, Kent, TN12 6BU

Trustees

Mr John Ashelford Chairman

Mr Emmanuel Berard

Mr Ian Chappell Vice Chairman (Resigned 4 January 2018)

Mrs Fiona Condron Treasurer

Mr Jody Lloyd (Resigned 22 April 2017)

Mrs Kathy Melling

Mrs Sairah Merchant

Mr John Osmond

Mr Paul Sheppard

Mr John Turner Mr Trevor Watkins

Chief Executive

Mr Stephen Elsden

Bankers

Barclays Bank PLC, 40 - 46 High Street, Maidstone, Kent, ME14 1SS

Auditors

Lindeyer Francis Ferguson Limited

North House, 198 High Street, Tonbridge, Kent, TN9 1BE

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Report of the Trustees for the year ended 31 March 2018

The trustees (who are also the Directors of the charitable company for the purposes of company law)

present their report and the audited accounts of Compaid Trust for the year ended 31 March 2018.

The trustees confirm that the report and financial statements of the charity comply with the current

statutory requirements, the requirements of the company's governing document, and the provisions of

"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities

preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK

and Republic of Ireland (FRS 102)" (effective 1 January 2015) (Charities SORP (FRS 102)).

Objectives and Activities

Our Mission

Compaid provides a range of practical services, using information technology and other resources,

to enable disabled adults and children in and around Kent to maximise their social, creative, learning

and employment opportunities.

Our Vision

Compaid aims to ensure that disabled and other vulnerable people in and around Kent can achieve

their aspirations.

Our Aims

Compaid’s principal objectives are to provide services for the public benefit of disabled and other

disadvantaged individuals, groups and communities to help them realise their full potential and

achieve better life outcomes, and specifically to facilitate their social, digital and economic inclusion, in

particular but not exclusively by:

the provision of advice and training in the use of digital technology;

the provision of community transport services;

the provision of vocational training and employment support to those who wish to gain or retain paid or voluntary work; and

carrying out research in the above areas and disseminating the results to influence policy making at both local and national levels.

Public Benefit Statement

In setting Compaid's objectives and planning its activities, the trustees have given careful

consideration to the Charity Commission’s general guidance on public benefit as required in section

17 of the Charities Act 2011 and, in particular, its supplementary public benefit guidance on fee

charging.

Compaid fulfils its public benefit duty by reducing the social exclusion of all those to whom it provides

digital skills training or transport services. This has the effect of allowing greater choice and

independence for service users, in many cases materially reducing their need for further support from

social care and health professionals and other statutory services.

While most clients of Compaid’s services pay a small charge, either directly or indirectly, these

charges are kept low through the use of voluntary income and the time donated by volunteers.

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Achievements and Performance

The trustees have worked with senior management to produce a three year business plan for the

charity, with a focus to enable Compaid to grow its services to vulnerable people in and around Kent,

and ensure the future sustainability of its support for nearly 2,000 beneficiaries each year.

Around 1,700 adults and children benefitted from one or more of Compaid’s services during the year

(1,680 in 2017).

Progress against objectives in 2017/18 included the following:

Digital skills training services

At Compaid’s dedicated Training Centre in Paddock Wood, 86 disabled adults received digital skills

training support (2017: 84). This ranged from use of the internet and social media, through Microsoft

Office applications such as Word and Excel, to digital design packages including Adobe Photoshop

and Corel Draw. A total of 6,200 half day training sessions (2017: 6,800) were delivered by staff

members and volunteers. The year on year reduction in sessions reflects a changing profile of new

clients who attend for fewer sessions each week than their predecessors.

Our training for disabled jobseekers across Kent continued during the year, with provision in Chatham,

Margate and Paddock Wood. Our staff and volunteer trainers supported 89 individuals referred from

local Job Centres to receive up to eight digital skills sessions. Five of these learners had moved on to

paid employment by the end of March 2018.

A fourth year as a partner of the Future Digital Inclusion project, funded by the Department for

Business, Innovation and Skills and managed by Good Things Foundation, also saw 104 individuals

gain four or more basic skills, such as using email and searching for jobs, using the Learn My Way

online learning platform.

Compaid also contributed to two additional projects carried out by Good Things Foundation. The first

of these was a research project on progression by learners into formal accredited learning, and the

second project consulted on the development of a new Basic Digital Skills framework.

Several sub-contracting opportunities opened up in the year, supporting national training schemes

funded by the Department for Work and Pensions. Compaid was selected by social enterprise 3SC to

deliver employability training to people with a visual impairment and other disabilities in the South

East. This partnership has so far resulted in referrals as far as Canterbury in mid-Kent, and Tilbury in

Essex.

Compaid was also chosen as a local training delivery partner for DWP’s new Work and Health

Programme, with referrals expected to come in the forthcoming year via Shaw Trust in Kent and

Medway and Pluss in East Sussex.

Alongside this contracted activity, continued demand for Outreach training from care and residential

homes resulted in a further 520 support sessions delivered to 87 people. (2017: 470 sessions to 135

people).

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Accessible transport services

The number of people using Compaid’s accessible transport services grew again this year. Our fleet

of 22 wheelchair-adapted vehicles took around 1,450 passengers on more than 33,500 journeys,

covering over 368,000 miles (2017: 1,330 passengers, 35,000 journeys and 350,000 miles).

A developing partnership with local Age UK charities led to Compaid being selected to provide

transport for older people attending a busy day care centre in Tunbridge Wells on two days each

week. This is in addition to existing support provided to Age UK in Tonbridge. Other local day centres

continued to rely on our drivers to bring clients in from home each day, and 137 people benefitted

from this door to door service during the year.

Changes in the commissioning of discharge assessments of patients in local cottage hospitals meant

that Compaid saw a fall in demand for transport for these patients. Despite this, 452 journeys were

made by clients attending out-patient appointments and travelling for other medical reasons such as

GP and dental appointments.

With many sites of historic interest and natural beauty in Kent, it is not surprising that 168 groups of

disabled and older people were taken on day trips and other outings during the year. Some of these

were organised by local residential homes and others by individuals.

The remainder of the journeys undertaken were to enable disabled and elderly people to get to their

local shops and community services, and to take disabled children to and from a number of special

educational schools in Kent. Transport for pupils attending Oakley School in Tunbridge Wells began to

be provided in the 2017/18 academic year.

Community transport services have been a focus of central Government during the year, as the

Department for Transport considers changes to the licensing arrangements for charities and

community bus organisations. Compaid submitted evidence to a Parliamentary Select Committee on

Community Transport, and in March 2018 a submission was made by the charity as part of the DfT’s

formal consultation.

Social impact

For a second year Compaid surveyed a sample of our beneficiaries to understand better the

outcomes achieved as a result of our charitable activities.

Our 2018 Social Impact survey found that 78% of our transport service users felt less lonely and

isolated, while 77% received improved access to activities they enjoy and 71% felt more independent.

Those using our training services reported improvements in their digital inclusion, with 37% increasing

social contact with family and friends online, and 50% improving their understanding of online security.

Our Social Impact Report has been sent to a number of key stakeholders, including major donors,

commissioners of services and local politicians. A copy of the report can also be downloaded from

Compaid’s website at www.compaid.org.uk.

http://www.compaid.org.uk

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Other key achievements and awards

During the year, the charity’s Chief Executive worked with the lead officers of four local Age UK and

Age Concern charities to explore ways to co-ordinate better service provision for older people in West

Kent. These discussions resulted in the formation of a new charity, Age Well West Kent, which is

expected to negotiate, on behalf of its partner organisations, with commissioners and other funders of

older people’s services. With the agreement of Compaid’s trustees, Compaid’s Chief Executive will

serve as a trustee on the Age Well West Kent board.

Compaid was also accepted on to the Pilotlight scheme, which brings senior business leaders into

charities to work on strategic challenges over a year long period. The trustees and the Chief Executive

have met with the four designated ‘Pilotlighters’, who are all based in the City of London, and a

programme of work is now being planned until December 2018. It is hoped this can support efforts to

ensure the charity’s long-term sustainability.

Compaid featured heavily in local press and broadcast media, with stories including the charity’s

inclusion in a new local version of the Monopoly board game, work to support communities affected by

local bus cuts, and a discussion of changes in transport legislation.

The charity was also a finalist for the second year at the Kent Charity Awards.

Fundraising performance

Fundraising income from non-Governmental sources grew compared to the previous year. The charity

continues to rely on voluntary income from a variety of sources and the trustees would like to thank all

of the charity’s supporters, including the following individuals and the organisations, for their

generosity during the year.

The 29th May 1961 Charitable Trust

Baily Thomas Charitable Foundation

Band Trust

Mr Emmanuel Berard

Boshier Hinton Foundation

Mr Matt Clements

Cobtree Charitable Trust

Co-op East Peckham

The D'Oyly Carte Charitable Trust

Garfield Weston Foundation

Gatwick Foundation Fund

Gilbert & Eileen Edgar Foundation

Glenn & Phyllida Earle Family Fund

Councillor Sarah Hamilton

The Iron Bridge Trust

Joan Ainslie Charitable Trust

Joan Strutt Charity

Kent Community Foundation

Lawson Endowment Fund

Lions Club of Tonbridge

Littledown Trust

Marsh Christian Trust

Masonic Charitable Foundation

Mrs Sue Mitchell & family

PJK Charitable Trust

Mr Ray Price

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R G Hills Charitable Trust

Rendel Ltd

Rotary Club of Tonbridge

Santander Foundation

Sevenoaks District Council

Sir Edward Lewis Foundation

Sir James Roll Charitable Trust

Sir Jules Thorn Charitable Trust

Stonewall Park Charitable Trust

Mr & Mrs Carl Streeter

Tesco - Paddock Wood

The SMB Charitable Trust

The Sobell Foundation

Thomas J Horne Memorial Trust

Tunbridge Wells Harriers Athletic Club

Tunbridge Wells Operatic & Dramatic Society

Mr Colin Whittle of Mike Coffee

Woodroffe Benton Foundation

Fundraising practices

Compaid does not employ third party professional fundraisers or commercial participators to

undertake its fundraising activities. All voluntary income received by Compaid is generated by the

efforts of staff and volunteers, whose work is monitored by the Chief Executive and the Finance and

Fundraising Sub-Committee established by the Board of Trustees.

Compaid is voluntarily registered with the Fundraising Regulator and abides by the Fundraising Codes

of Practice.

No complaints about fundraising practices undertaken by Compaid, its staff or volunteers were

received during the year.

Contributions by volunteers

Most of Compaid's services would struggle to meet the needs of our clients without the commitment of

a network of nearly 50 regular volunteers. In the last year, operational volunteers donated 9,930 hours

(2017: 9,750 hours) of their time, equating to 5.5 (2017: 5.5) full time members of salaried staff, the

approximate value of which was £70,000.

A number of long serving volunteers, along with veteran staff members, were thanked and rewarded

for their long service at a special social event during the summer. The trustees were also particularly

pleased to see Compaid awarded the REVAMP quality mark, which acknowledges excellence in

volunteer recruitment and administration.

Financial review

Compaid’s total income fell by 3% during the year, as a result of the significant non-repeatable grants

from central Government received in the previous financial year. The trustees had planned for the

ending of these grants, and income in 2017-18 performed largely in line with the agreed budget.

Income from community transport services grew by 2.5% year on year to £601,610, while income from

digital skills training services increased by 3.4% to £191,150. At the end of the year, total income from

charitable activities had risen to £802,636 (2017: £780,254).

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Fundraising income fell during the year to £166,116, compared with £224,991 in 2017. However,

adjusting for the one-off grants from central Government, which totalled £111,566 in the previous

year, voluntary income from other sources rose by an impressive 60%.

Income from non-charitable activities was fairly stable compared to the previous year, generating

£34,675 (2017: £32,479). While this is comfortably below HMRC’s £50,000 limit, above which

Corporation Tax could fall due on any profits, the trustees expect to establish a trading subsidiary in

the forthcoming year, which may undertake some or all of these non-charitable activities. This

subsidiary would be able to donate any profits before tax back to Compaid.

Overall, income to the charity reduced to £1,005,578 (2017: £1,038,402). Expenditure also fell by

1.2% to £1,047,796, as consultancy projects supported by some of the aforementioned Government

grants came to a natural end.

Depreciation on fixed assets, including 11 accessible vehicles wholly owned by the charity, accounted

for £56,331 of expenditure. Six of these wholly owned vehicles were fully depreciated by March 2018

and a capital fundraising campaign is now under way to replace several of these in the coming year.

The overall result was an operating deficit of £42,218 (2017: deficit of £21,979), with a cash inflow of

£17,479 (2017: cash outflow of £39,028).

Total funds as at 31 March 2018 stood at £356,407 (2017: £398,625), of which £24,683 was held in

restricted funds (2017: £12,250) and the remaining £331,724 in unrestricted funds (2017: £386,376).

During the year, a loan provided by Kent Big Society Foundation to purchase an adapted minibus in

2014, continued to be repaid through fixed monthly instalments at 5% interest that end in December

2019. As at 31 March 2018, £12,429 remained outstanding.

Reserves policy

The trustees regularly review the charity’s reserves policy. The policy seeks to ensure that Compaid

holds sufficient reserves to sustain its services and deliver on its strategic objectives.

To that end, trustees recognise that reserves may need to be utilised in a number of situations:

to cover cash flow variations, caused by a delay in receiving income covering committed expenditure or a mismatch in the timing of receipts and payments;

to replace lost income funding core costs, caused by the loss of key contracts;

to guard against missed fundraising targets, where donors have yet to be identified, funding bids have been delayed or expected donors have unexpectedly declined applications; and

to provide seed corn funding for future developments and innovation in service delivery

In light of the risks the charity faces, the trustees believe that an unrestricted reserve fund of around

£200,000-£250,000 should be held as at 31 March 2018. The actual figure in free unrestricted

reserves (that is, unrestricted reserves represented by net current assets) as at that date was

£240,376. The trustees have agreed to designate £15,000 of these unrestricted reserves towards a

vehicle replacement fund.

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Principal risks and uncertainties

The trustees have established a Risk Review Strategy, the aim of which is to consider regularly high

level strategic risks in three key areas: Impact and Quality of Service, to ensure the charity’s services

continue to meet the needs of beneficiaries; Compliance and Regulation, to ensure that the charity

operates legally and professionally; and Financial Sustainability, to ensure the charity has sufficient

funds to deliver its charitable services. Identified risks are reviewed by the full Board of Trustees or

one of its delegated Sub-Committees, and the likelihood of each risk’s materialisation is recorded,

along with any mitigating actions.

A Business Continuity Plan is in place and regularly updated. This Plan sets out the procedures to be

followed in the event of a major emergency to ensure that Compaid can maintain its operations in the

short, medium and long term. Business Continuity insurance is also in place to fund any exceptional

costs arising from an emergency.

Fire Risk Assessments are conducted at all operational properties, in consultation with Health and

Safety representatives elected from the staff. Any required action is taken by the Chief Executive in

consultation with the trustees and the senior management team.

Plans for future periods

As mentioned in the Financial Review on pages 8-9, the trustees are planning the creation of a trading

subsidiary which may undertake non-charitable activities in the future. These activities may include

certain transport services, depending on the outcome of the Department for Transport’s consultation

into the licensing of community transport operators. The trading subsidiary will be formed as a

Community Interest Company, which will donate any profits, gross of tax, back to the charity.

The trustees are also looking at options to ensure the future sustainability of Compaid’s services to

vulnerable people. These options may include structural changes, partnerships with other

organisations, and the sharing of back office functions.

Structure, governance and management

Compaid Trust (“the Trust”) was established as a charitable trust (with charity registration number

327257) by deed dated 7 July 1986. On 9 July 1997 the Trust was incorporated as a company limited

by guarantee (“the Company”), with company registration number 3400811; and the Company was

registered as a charity (with charity registration number 1064160) at the Charity Commission on 29

August 1997. Any references herein to Compaid are to the company limited by guarantee.

The charity’s objectives were altered by way of special resolution on 23 April 2018. Updated

objectives can be found on page 4.

Changes in Trustees

The names of the trustees who served during the year and to the date of this report are on page 3.

Due to increasing ill-health, Compaid’s Vice-Chairman, Ian Chappell, resigned his position in early

January 2018. The trustees would like to record their grateful thanks to Ian for his service and wish

him well for the future.

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Recruitment, appointment, induction and training of Trustees

At each Annual General Meeting one third of the trustees must retire, as must any trustee(s)

appointed since the last Annual General Meeting, all of whom are eligible for re-election if they have

not exceeded a term of nine years on the Board.

The Trustees hold Board meetings at intervals of about three months and four were held during the

year: the minimum quorum for these meetings is four trustees. They have responsibility for setting

Compaid’s strategic aims and for approving its annual budget and accounts. The trustees regularly

review the skills needed by them to meet the requirements of their strategic duties and, when

necessary, identify potential new members of the Board through open recruitment.

All new trustees are provided with an induction to Compaid’s work by the Chairman or the Chief

Executive. Training needs are kept under review by the trustees.

Organisational structure and remuneration procedures

The trustees delegate the day to day running of Compaid to the Chief Executive. He reports to

meetings of the trustees on progress towards achieving Compaid’s strategic objectives. He is

supported by a Training Services Manager, a Transport Service Manager, an Office Manager, a

Fundraising Manager and an HR Administrator. The managers are themselves supported by trainers,

care assistants, drivers, volunteers and others.

The trustees may delegate any of their powers to committees of two or more trustees. To date no

such committees have been formed; but the trustees have formed three sub-committees, the

members of which are all trustees, with reports where required from the Chief Executive and other

Managers. These sub-committees cover the areas of Governance, Development, and Finance &

Fundraising. They report their findings and recommendations to the Board, which is responsible for

agreeing any action that is needed.

The Chief Executive’s pay is benchmarked against other local charities of comparable size and

structure. Pay rises and adjustments for other staff members are proposed by the Chief Executive and

approved by the Board, with regard being had to responsibility in management and overall

organisational performance, as well as market weighting for any technical roles. In addition, the

trustees have pledged to ensure that all staff are paid at an hourly rate above the National Living

Wage.

The trustees are aware of interest in the gender pay gap within organisations, and, although the

charity is too small to have a legal obligation to report this, an analysis has nevertheless been made.

This reveals a mean gender pay gap of 6.75% in favour of male employees, reflecting the fact that the

two most senior positions in the charity are currently occupied by men. There is no median gender

pay gap within the charity.

Auditors

The auditors, Lindeyer Francis Ferguson Limited, have indicated their willingness to continue in office

and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

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Basis of this report

This report has been prepared in accordance with the special provisions relating to small companies

within Part 15 of the Companies Act 2006.

Approved by the Trustees on 17 July 2018

and signed on their behalf by:

MR JOHN ASHELFORD

Chairman

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Statement of the responsibilities of the Trustees

The trustees (who are also the Directors of Compaid Trust for the purposes of company law) are

responsible for preparing a Trustees’ annual report and accounts in accordance with applicable law

and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting

Practice).

Company law requires the trustees to prepare accounts for each year which give a true and fair view

of the state of affairs of the charity and of the incoming resources and application of resources,

including the income and expenditure, of the charity for that period. In preparing the accounts, the

Trustees are required to:

• select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP 2015; • make judgements and estimates that are reasonable and prudent; • state whether applicable UK accounting standards have been followed, subject to any

material departures disclosed and explained in the financial statements; and • prepare the accounts on the going concern basis unless it is inappropriate to presume

that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable

accuracy at any time the financial position of the charity and to enable them to ensure that the

accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets

of the charity and hence taking reasonable steps for the prevention and detection of fraud and other

irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial

information included on the charity’s website.

Provision of information to Auditors

Each of the persons who are trustees at the time when this trustees’ report is approved has confirmed

that:

so far as that trustee is aware, there is no relevant audit information of which the charitable company’s auditors are unaware, and

that trustee has taken all steps that he or she ought to take as a trustee in order to be aware of any information needed by the charitable company’s auditors in connections with preparing their report and to establish that the charitable company’s auditors are aware of that information.

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In preparing this report, the trustees have taken advantage of the small companies exemptions

provided by section 415A of the Companies Act 2006.

Approved by the trustees on 17 July 2018

MR JOHN ASHELFORD

Chairman

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Independent Auditors’ Report to the Members of Compaid Trust on the Accounts for

the year ended 31 March 2018

Opinion

We have audited the financial statements of Compaid Trust (“the charitable company”) for the year

ended 31 March 2018, which comprise the Statement of Financial Activities, Balance Sheet,

Statement of Cash Flows, and the notes to the financial statements, including a summary of

significant accounting policies. The financial reporting framework that has been applied in their

preparation is applicable law and United Kingdom Accounting Standards, including Financial

Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of

Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 March 2018 and of its incoming resources and application of resources for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and

applicable law. Our responsibilities under those standards are further described in the Auditor’s

responsibilities for the audit of the financial statements section of our report. We are independent of

the charitable company in accordance with the ethical requirements that are relevant to our audit of

the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our

other ethical responsibilities in accordance with these requirements. We believe that the audit

evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require

us to report to you, where:

the trustees’ use of the going concern basis of accounting in the preparation of the financial

statements is not appropriate; or

the trustees have not disclosed in the financial statements any identified material uncertainties

that may cast significant doubt about the charitable company’s ability to continue to adopt the

going concern basis of accounting for a period of at least twelve months from the date when

the financial statements are authorised for issue.

Other information

The other information comprises the information included in the trustees’ report, other than the

financial statements and our auditor’s report thereon. The trustees are responsible for the other

information.

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Our opinion on the financial statements does not cover the other information and, except to the extent

otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other

information and, in doing so, consider whether the other information is materially inconsistent with the

financial statements or our knowledge obtained in the audit or otherwise appears to be materially

misstated. If we identify such material inconsistencies or apparent material misstatements, we are

required to determine whether there is a material misstatement in the financial statements or a

material misstatement of the other information. If, based on the work we have performed, we conclude

that there is a material misstatement of this other information, we are required to report that fact. We

have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees’ report, which includes the directors’ report for the

purposes of company law, for the financial year for which the financial statements are

prepared is consistent with the financial statements; and

the directors’ report included within the trustees’ report has been prepared in accordance with

applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment

obtained in the course of the audit, we have not identified material misstatements in the directors’

report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act

2006 require us to report to you if, in our opinion:

adequate and proper accounting records have not been kept, or returns adequate for our audit

have not been received from branches not visited by us; or

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

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 small companies’ exemptions in preparing the

trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on pages 13-14, 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, and for such internal control as the trustees determine is necessary to enable the

preparation of financial statements that are free from material misstatement, whether due to fraud or

error.

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In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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

Amy Healey ACA, CTA, DChA

Senior Statutory Auditor

for and on behalf of:

Lindeyer Francis Ferguson Limited

Statutory Auditors

North House, 198 High Street, Tonbridge, TN9 1BE

Date: 19 July 2018

http://www.frc.org.uk/auditorsresponsibilities

COMPAID TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)FOR THE YEAR ENDED 31 MARCH 2018

2018 2018 2018 2017Unrestricted Restricted Total Total

£ £ £ £Notes

Income from:

Donations and legacies 3 99,720 66,396 166,116 224,991Charitable activities 5 802,636 - 802,636 780,254Other trading activities 4 34,675 - 34,675 32,479Investments 918 - 918 678Other 1,233 - 1,233 -

939,182 66,396 1,005,578 1,038,402

Expenditure on:

Raising funds 8 33,442 - 33,442 28,924Charitable activities 5 960,391 53,963 1,014,354 1,031,457

993,833 53,963 1,047,796 1,060,381

Net (expenditure) / income 11 / 16 ( 54,651) 12,433 ( 42,218) ( 21,979)

Net movement in funds ( 54,651) 12,433 ( 42,218) ( 21,979)

Reconciliation of funds:

Total funds brought forward 386,375 12,250 398,625 420,604

Total funds carried forward 16 331,724 24,683 356,407 398,625

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derives from continuing activities.

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COMPAID TRUST

STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 MARCH 2018

2018 2017£ £

Notes

Cash flows from operating activities:Net cash provided by / (used in) operating activities A 12,251 ( 20,286)

Cash flows from investing activities:Purchase of tangible assets - ( 13,250)Proceeds from the sale of tangible assets 11,000 -

Net cash used in investing activities 11,000 ( 13,250)

Cash flows from financing activities:Interest received 918 678Repayments of borrowing ( 6,690) ( 6,170)

Net cash used in financing activities ( 5,772) ( 5,492)

Change in cash and cash equivalents for the year 17,479 ( 39,028)

Cash and cash equivalents at the beginning of the year 157,243 196,271

Cash and cash equivalents at the end of the year 174,722 157,243

A Reconciliation of net expenditure to net cash flow from operating activities

Net expenditure for the year ( 42,218) ( 21,979)As per statement of financial activities

Adjustments for:Depreciation charges 56,331 62,626Loss on disposal 2,000 -Minibus donation in kind - ( 38,000)(Increase) in debtors ( 7,341) ( 2,831)Increase / (decrease) in creditors 4,397 ( 19,424)Interest received ( 918) ( 678)

Net cash provided by / (used in) operating activities 12,251 ( 20,286)

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COMPAID TRUST

BALANCE SHEETAS AT 31 MARCH 2018

2018 2018 2017 2017£ £ £ £

Notes

Fixed assetsTangible assets 12 96,522 165,853

Current assetsDebtors 13 134,086 126,745Cash at bank and in hand 174,722 157,243

308,808 283,988

Creditors: amounts falling due within one year 14 ( 43,749) ( 38,787)

Net current assets 265,059 245,201

Creditors: amounts falling due after more than one year 15 ( 5,174) ( 12,429)

Total net assets 356,407 398,625

The funds of the charityUnrestricted funds

General reserves 316,724 386,375Designated funds 15,000 -

Restricted funds 24,683 12,250

Total funds 16 356,407 398,625

Mr John Ashelford Mrs Fiona CondronChairman Treasurer

Company Registration Number: 3400811

The accounts were approved by the Board on 17 July 2018 and signed on their behalf by:

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COMPAID TRUST

NOTES TO THE ACCOUNTSFOR THE YEAR ENDED 31 MARCH 2018

1 Accounting policies

1.1 Basis of preparation

1.2 Income

1.3 Expenditure

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are as follows:

The accounts are presented in pounds sterling and rounded to the nearest pound.

Expenditure has been classified under headings that aggregate all costs related to the category.

The accounts have been prepared in accordance with the Charities SORP 2015, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Income from charitable activities is recognised over the period to which the income relates. Charges for services are recognised when the services are provided. Income received in advance is accounted for as deferred income.

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds.

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably.

Staff costs are allocated across fundraising, the three charitable activities and administrative activities undertaken by the charity on the basis of staff time.

Compaid Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policies.

There are no material uncertainties about the charity's ability to continue, and so the going concern basis of accounting has been adopted.

Assets donated for on-going use by a charity in carrying out its activities are recognised as tangible fixed assets at fair value with the corresponding gain recognised as income within the SoFA.

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COMPAID TRUST


1 Accounting policies continued

1.3 Expenditure continued

1.4 Tangible fixed assets and depreciation

Computer software 20% on cost per annum Fixtures, fittings and equipment 20% to 50% on cost per annum Motor vehicles:

New 15% on cost per annumSecond hand Straight line over the estimated remaining life

Leasehold improvements

1.5 Financial instruments

1.6 Pension contributions

1.7 Operating leases

The charity makes defined contributions into employee private pension schemes. Following auto-enrolment staging in October 2016, the charity also makes contributions into a multi-employer scheme. Contributions are charged to the statement of financial activities as they become payable in accordance with contract terms.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

The company only has financial instruments which are classified as basic financial instruments. Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the statement of financial activities. Bank loans are initially recorded at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

Support costs, which are those costs relating to functions which assist the work of the charity but do not directly relate to its activities, have been allocated to the activities undertaken by the charity on the basis of departmental headcount. The charity also utilises volunteers, and further details of their contribution is in the Trustees' Report.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:

Computer and related equipment costing or having a value on acquisition of £5,000 or less is written off when acquired.

Straight line over the period to the first break clause in the lease

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COMPAID TRUST


1 Accounting policies continued

1.8 Fund accounting

Designated funds are funds set aside by the trustees for a particular future purpose.

2 Status

3 Income from donations and legacies2018 2017

£ £

Donations from individuals 15,308 21,604Donations from companies 3,447 670Donations from community groups 4,962 10,343Grants from trusts and foundations 118,550 76,817Grants from public authorities 20,441 111,571Gift Aid recovery 3,408 3,986

166,116 224,991

The comparative figure for 2017 includes £181,004 of restricted income.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

Unrestricted funds are those funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Compaid Trust is a charitable company limited by guarantee incorporated in England and Wales. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is Unit 1, Eastlands, Maidstone Road, Paddock Wood, Kent TN12 6BU.

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COMPAID TRUST


4 Income from other trading activities 2018 2017£ £

Fundraising Events 4,643 9,571Advertising Income 6,000 2,500Cards Sales 32 408Commuter shuttle bus service - open to general public 24,000 20,000

34,675 32,479

5 Charitable activities2018 2017

£ £Income:Training services 191,150 184,788Transport 601,610 587,179Payroll & other services 9,876 8,287

802,636 780,254

2018 2018 2018 2018 2017

Headcount Direct costsSupport

costs Total Total# £ £ £ £

Expenditure:Training services 14 182,046 40,777 222,823 249,535Transport 34 682,002 99,031 781,033 765,771Payroll & other services 1 7,585 2,913 10,498 16,151

49 871,633 142,721 1,014,354 1,031,457

The comparative figure for 2017 includes £162,612 of restricted expenditure.

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COMPAID TRUST


6 Direct costs2018 2017

£ £

Staff costs 587,858 556,417Staff recruitment, travel and training 8,418 7,564Volunteers' expenses 8,041 7,727Premises costs 46,729 47,641Other office costs 4,522 7,692Computer costs 1,770 1,548Transport vehicle expenses 154,043 145,112Depreciation 51,188 55,674Loss on disposal 2,000 -Consultancy and professional fees 5,508 5,943Loan interest and charges 1,310 1,830Bad debts 246 1,097Other direct costs - 78

871,633 838,323

7 Support costs2018 2017

£ £

Staff costs 106,541 111,758Staff recruitment, travel and training 1,536 4,353Premises costs 13,033 14,633Other office costs 3,588 3,632Computer costs 1,260 1,122Other direct costs 1,141 1,431Insurance 2,959 3,066Depreciation 5,143 6,952Consultancy and professional fees 454 34,169Audit fees 6,202 5,698Trustees' expenses 864 1,194Advertising and marketing - 5,126

142,721 193,134

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COMPAID TRUST


8 Expenditure on raising funds2018 2017

£ £

Staff costs 28,559 21,316Other fundraising costs 4,883 7,608

33,442 28,924

9 Staff costs2018 2017

£ £

Gross salaries 679,882 644,509National Insurance contributions 36,785 35,360Pension contributions 5,222 5,169Other benefits - 2,414Temporary staff 1,069 2,039

722,958 689,491

10 Related party transactions

During the year, donations made by the trustees and key management personnel to the charity totalled £7,153 (2017: £3,067) in aggregate.

The charity's key management personnel are the trustees and the Chief Executive. Total employee benefits, including employer's pension contributions and employer's National Insurance, in respect of key management personnel were £54,863 (2017: £54,311).

None of the trustees received any remuneration in the year. Expenses totalling £864 (2017: £1,194) were reimbursed to 6 (2017: 5) trustees in relation to the costs of attending meetings.

The average number of employees during the year was 54 (2017: 49). No member of staff earned over £60,000 in the year or the previous year.

There were outstanding pension contributions at the balance sheet date amounting to £3,548 (2017: £4,523).

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COMPAID TRUST


11 Net expenditure2018 2017

£ £This is stated after charging:

Audit fees 6,202 5,698Depreciation 56,331 62,626Operating lease rentals 35,500 35,500

12 Tangible fixed assets

Leasehold property

Motor vehicles

Fixtures, fittings &

equipment Total£ £ £ £

CostAt 1 April 2017 45,687 372,052 39,809 457,548Disposals - ( 40,000) - ( 40,000)

At 31 March 2018 45,687 332,052 39,809 417,548

DepreciationAt 1 April 2017 23,827 239,543 28,325 291,695Charge for the year 5,143 48,538 2,650 56,331Eliminated on disposal - ( 27,000) - ( 27,000)

At 31 March 2018 28,970 261,081 30,975 321,026

Net book valueAt 31 March 2018 16,717 70,971 8,834 96,522

At 31 March 2017 21,860 132,509 11,484 165,853

13 Debtors2018 2017

£ £

Trade debtors 112,409 104,646Prepayments and accrued income 10,413 13,181Other debtors 11,264 8,918

134,086 126,745

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COMPAID TRUST


14 Creditors: amounts falling due within one year2018 2017

£ £

Loans 7,255 6,690Trade creditors 7,846 9,240Tax and social security 9,701 9,724Accruals and deferred income 17,216 11,402Other creditors 1,731 1,731

43,749 38,787

15 Creditors: amounts falling due after more than one year2018 2017

£ £

Loans 5,174 12,429

Analysis of loansWholly repayable within five years 12,429 19,119Included in current liabilities ( 7,255) ( 6,690)

5,174 12,429

The loan comprises a 5% fixed interest loan from Kent Big Society Fund. This loan is unsecured.

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COMPAID TRUST


16 Movement in funds

Current year1 April

2017 Income Transfers31 March

2018£ £ £ £ £

Unrestricted funds:General fund 386,375 939,182 ( 993,833) ( 15,000) 316,724Designated fund - - - 15,000 15,000

386,375 939,182 ( 993,833) - 331,724

Restricted funds:Training 12,000 40,165 ( 28,732) - 23,433Transport - 20,231 ( 18,981) - 1,250Strategic Development 250 - ( 250) - -Fundraising - 6,000 ( 6,000) - -

12,250 66,396 ( 53,963) - 24,683

Total funds 398,625 1,005,578 ( 1,047,796) - 356,407

Training fund

Transport fund

Fundraising

Designated funds

This fund contains grants given towards the cost of delivery of digital skills training services. As at 31 March 2018, this fund comprised grants from the Masonic Charitable Foundation (£10,000), Baily Thomas (£7,000), the Santander Foundation (£3,658) and the D'Oyly Carte Charitable Trust (£2,000). The remaining balance of £775 is restricted against specialist equipment for the Training Centre.

This fund contains grants given towards the cost of delivery of digital training services. As at 31 March2018, this fund compromised grants from the Band Trust (£1,250).

The restricted funds arise from grants and donations to fund particular projects or items of expenditure, and unused income is carried forward to cover future expenditure on those areas. Details of restricted and designated funds active during the year are as follows:

This fund contains a restricted donation given towards the first year salary of a part-time FundraisingAssistant.

The Trustees have agreed to designate £15,000 from unrestricted reserves towards a vehiclereplacement fund.

Expenditure

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COMPAID TRUST


Movement in funds (continued)

Prior year1 April

2016 Income Transfers31 March

2017£ £ £ £ £

Unrestricted fund 375,496 857,398 ( 897,769) 51,250 386,375

Restricted funds:Training 22,230 32,137 ( 42,367) - 12,000Transport 8,128 75,301 ( 45,429) ( 38,000) -Strategic Development 14,750 73,566 ( 74,816) ( 13,250) 250

45,108 181,004 ( 162,612) ( 51,250) 12,250

Total funds 420,604 1,038,402 ( 1,060,381) - 398,625

Training fund

Transport fund

Strategic development fund

Expenditure

The restricted funds arise from grants and donations to fund particular projects or items of expenditure, and unused income is carried forward to cover future expenditure on those areas. Details of restricted funds active during the year are as follows:

This fund contains grants given towards the cost of delivery of digital skills training services. As at 31 March 2017, this fund comprised grants from 29th May 1961 Trust (£2,000), and The Sobell Foundation (£10,000).

The transfer relates to the donation of a new minibus.

This fund contains grants given to support Compaid’s organisational and development costs. The transfer relates to the purchase of a new Management Information System purchased from restricted funds received in the prior year. A Local Sustainability Fund Grant of £73,566 was received and restricted to use on improving marketing and IT, and improving contract management.

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COMPAID TRUST


17 Analysis of net assets between funds

Current yearRestricted

fundsTotal funds

2018 2018 2018

Fixed assets 96,522 - 96,522Net current assets 240,376 24,683 265,059Creditors: due after more than one year ( 5,174) - ( 5,174)

Total net assets 331,724 24,683 356,407

Prior yearRestricted

fundsTotal funds

2017 2017 2017

Fixed assets 165,853 - 165,853Net current assets 232,951 12,250 245,201Creditors: due after more than one year ( 12,429) - ( 12,429)

Total net assets 386,375 12,250 398,625

18 Operating lease commitments

2018 2017£ £

Land and buildings:Due within one year 38,500 38,500Due in two to five years 74,250 107,250

112,750 145,750

Unrestricted funds

The charity is committed to future minimum lease payments under non-cancellable operating leases as follows:

Unrestricted funds

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