205. coui - children our ultimate investment - accounts february 2007

7/31/2019 205. COUI - Children Our Ultimate Investment - Accounts February 2007.

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A 1 0 9 4 79 ZU 1 J 6 d ~ 0 7

No 4

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

FINANCIAL STATEMENTSYEAR ENDED 28 FEBRUARY 2007

REGISTERED CHARITY NUMBER: 1099782REGISTERED COMPANY NUMBER: 4001308

F:\NLC\CK J\Chi ld re n Ou r U lt im a t e I n ve s tm e n t ( UK ) NL53099Wccounts\2007\accounts SORP 2005.xlsaccounts SORP 2005 . x IsF ro n t


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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

BOARD OF DIRECTORS

TRUSTEES

COMPANY SECRETARYCOMPANY REGISTRATION NO.

D WhitmoreS MillichampP Hein

S AdcockJ Ma rt i nM ShawH EinzigS S locombe O BE

D Whitmore4001308

REGISTERED O FF IC E 47 Be rmondsey S t r ee t& PRINCIPAL ADDRESS LONDON

SE1 3XTREGISTERED CHARITY NO. 1099782AUDITOR Macln tyre Hudson LLPChartered AccountantsEuro House

1 39 4 H igh RoadLondon N20 9YZBANKERS Barclays Bank p lcSou thwark branch

29 Borough High StreetLondonSE1 1 LY


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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDTH E DIRECTORS' AND TRUSTEES' REPORTYEAR ENDED 28 FEBRUARY 2007

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The Board of Directors and Trustees have pleasu re in presenting their report together w it h t he audited financial statements of th e Charity fo r th eyear ended 28 February 2007.Children: Our Ultimate Investment (UK) Limited ("COUI UK") is a company l imited by guarantee.PRINCIPAL ACTIVITIES

The principal activity of t he Char it y is to foster and support t he education, health, oppo r tun it y and development of children and young people.

CONSTITUTIONOF THE CHAR ITYThe Charity is a company l imited by guarantee and is governed by t he R ule s a nd Regulations of th e Memorandum and Ar t ic les ofAssociationincorporated on 24 May 2000 as amended by special resolut ion dated 13 June 200 3. . T he power of appoint ing and removing Directors andTrustees f rom t he B o ar d is vest ed in the Board of Directors and Trustees. Membership is no n t ransferable and ceases upon dea th . Amaximum ofseven an d a minimum of tw o members is required at all t imes. There is an induct ion process fo r n ew t rus tees , w i th documents be ing providedincluding copies of minutes and char it y commission gu idance and info rmat ion . Trustees ar e encouraged to attend external t raining events wherethese wi ll fac i li ta t e the unders tanding of their roles.

The Charity h as th e powe r to in v e st m o n ie s , n ot immed i a t e ly r equ ir ed fo r th e fu rthe r an ce of it s object ives, in su ch i n vestmen t s , s ecu r it ie s orprope rty as it thinks fit, subject to a ny statuto ry r e qu ir eme n ts . C u rr e n tl y t h e C h a ri ty has not i nves ted any mon i e s fo r i n v es tmen t , bu t has su rp lusmone y t ra n s fe r re d t o a f ixed ra te depos i t accoun t with Barclays Bank plc.

CHARITY OBJECTIVESThe Charity's principal objectives are as follows:

To foster and support t he educat ion , health, opportunity and development of children and young people.To meet these object ives t he Char it y continues to promote , ini tiate , develop and carry out education an d training and a rr an ge and provideassistance at lectures, seminars and classes fo r children and young people.There has been no change in th e Charity's objectives during th e year.The Charity con t i nues to be r u n by t he B oa r d of Directors an d T r us t e e s .

REVIEW FO R TH E YEAR INCORPORATING ACHIEVEMENTSAND PERFORMANCEProgress an d Key Ach i e v emen t s This YearCOUI UK continued adhering to it s four year business plan, compile d w it h t he ARK , t he major funder. We consistently met al l of th e ARKperformance targets in terms of number of teenagers reached and number of Teens & Toddlers Sustainabili ty Replication Programmes sold.Performance targets fo r se ll ing prog rammes for 2007 -2008 have a lready been achieved.Delivering Teens & Toddlers in London BoroughThis year we de li ve red Sustainability Replicat ion Programmes in Southwark, Islington, Brent, Greenw ich , NE Lincolnshire and Northampton.Stand Alone Teens & Toddlers pro jec ts were delivered in Camden, Haringey and Hammersmith & Fulham.In all of COUI UK's Programmes are 91 Teens & Toddlers Facili tators, 25 of them being In House Staff Senior Fac il it at o rs , w it h e igh t mo re justfinishing their t raining. The Facilitator Training has been accredited, (by ABC, who are recognised by the Nat ional Youth Agency), as a Diploma inYouthWork Level 3.

Teens & Todd le rs p r og r ammes a r e c u rr e n tl y wo rk in g with 200 t e e n s in to ta l. F or th e Na t io n a l Awa rd in I n t e rpersona l Skills, nea rl y 100% ofpa rt ic ipat ing t e e ns a r e choos i n g to wor k t ow a rd s t he Award an d we h av e a 98% P as s R at e.


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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDTH E DIRECTORS' AN D TRUSTEES ' REPORT

YEAR ENDED 28 FEBRUARY2007REVIEW OF TH E YEAR ( con t i n u ed )

Central Government endo r s emen t

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Recently published central government gu idance documents all recommend Teens & Toddlers as a 'well evaluated focused interventionfo r at risk young people'. (The DfES, 'Teenage Pregnancy Next Steps: Guidance fo r Local Authori t ies and Primary Care Trusts onEffec t ive Del ivery of Local Strateg ies ' , the Teenage Pregnancy: Accelerat ing t he S t ra tegy to 2010 and Reaching Out, an Action Plan onSocial Exclusion ).

Thei r endo rsement c it es Teens & Todd le rs bo th as a youth development prog ramme which raises self esteem, aspi ra t ion andeducat ional a t ta inment and a t eenage pregnancy preven t ion and sexual heal th programme. The Teens & Toddlers projectaddresses th e five co re ou tcomes of Every Child Matters, and achieves positive outcomes across a wide r an ge o f educational, healthand social exclusion indicators.The success of t he pro jec t is founded on creating an env ironment where at risk teenagers, both male and female, can experience firsthand th e demands of parent -chi ld relat ionships and under st and t he implications o f becoming a parent fo r their future life. Additionally,participating young people earn a National Award in Interpersonal Skills (NCFE) which, f or many, impac ts s ignif icant ly their self esteemand educat ional a t tainment .ResearchThree years funding from th e Esmee Fairbairn Foundat ion enabled COUI UK to hire a ful l t ime Research Officer for three years who willcontinue to evaluate th e efficacy of th e Teens & Toddlers project.GrantsCOUI UK is grateful to have been awarded from th e Jack Petchey Foundation 260, 000 (86,540 a year fo r up to three years subject toperformance) to be used as match funding f or t he Teens & Toddlers sustainabi li ty Replication Programme. The Equitable CharitableTrust a lso provided a grant o f 25 ,0 00 fo r t he same purp ose and 10,000 f rom t he Charles Hayward Foundation. We are immenselygrateful to ARK, Absolute Return fo r Kids, f o r t he continuing support of core funding and fo r the expans ion of COUI UK.Plans fo r t he futu reCOUI UK will continue to f o ll ow our fou r year Business Plan and to meet ou r performance t a rge ts for number of programmes deliveredand number of at risk young people r eached . The re is a growing interest in th e Sustainabili ty Programme f rom outside London,particularly from t he No rt h E as t and th e Midlands Regions . We w ill in it ia te greater fundraising efforts in order t o p rov ide match fundingfo r an entire Region of th e UK and will research th e impact of this on socia l exc lusion and teenage pregnancy rates fo r th e Region.

ConclusionIt has been a successful year fo r COU I UK and one of rapid expansion, suppor ted by the Business P lan and core finding from ARK . A sprog rammes g row, the infrastructure of th e organisation grows exponent ia ll y. The work of COU I UK is wel l suppor ted by a skilfuladministrative team. Teens & Toddlers Faci li ta tors cont inue to have great success w ith t he at risk young peop le served by ourp rogr ammes . COUI UK is increasingly recognised as an expert in both youth development and in teenage pregnancy prevention andsexual health.


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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDTHE DIRECTORS' AN D TRUSTEES' REPORTYEAR ENDED 28 FEBRUARY 2007

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Reserves PolicyThe Board of Directors and Trustees has agreed the following reserves policy regarding th e level of reserves it should maintain in order to meetthe needs of the Charity:The Charity needs rese rv es in order t o :

" Finance fixed assets and day to day activities;. Enable the Charity to cope financially during times of be low average income and cover operational overheads and salaries fo r a t least

six months;. Have additional resources available to co pe w it h revenue and capital requirements a risin g in t he next few years to fulfil its charitable

activit ies.The present level of reserves and bank facili t ies are considered adequate to cover the present day to day working capital requirements.In setting i ts budgets, level of charges fo r services and in negotiat ing the level of funding fo r grants, the Char ity takes account of the need tomaintain adequate reserves. When reviewing annual budgets and accounts and periodic management accounts and cash flows; t he Board ofDirectors and Trustees monitors whether the level of income is appropriate to establish and maintain reserves in line with this pol icy. This policywill be reviewed at least annually.As of 28 February 2007 accumula ted funds were: 295,665 (2006: 55,498), of which 214,642 (2006: 55,498) were unres tr ic ted funds and81,023 (2006: NIL) were restricted funds.Management of RiskThe Board of Directors and Trustees regularly review th e major risks to which th e Charity is exposed arising fr om it s operations and theenvironment. Systems are regularly reviewed and procedures put in place to minimise these risks.Board of Directors an d TrusteesThe Direc tors and Trustees who served the Charity during this year were:P Hein (D) M Shaw (T) J Martin ( T )D Whitmore (D) S S locombe OBE (T) H Einzig (T)S Millichamp (D) S Adcock ( T ) S Whitaker (T) (resigned 15 May 2006)(D) = D i r e c t o r ( T ) = TrusteeThese financial statements comply with the Charity's governing document, the Statement of Recommended Practice 'Accounting and Reportingby Charities' (SORP 2005 ) a n d t he Companies Ac t 1985.AuditorThe resolution to reappoint Maclntyre Hudson LLP as auditors for th e ensuing year will be proposed at th e next meet ing of t he B o ar d of Directorsan d Trustees.Small company provisionsThis report has been prepared in accordance with the special provisions fo r small companies under part V Ii o f the Companies Ac t 1985.

Signed on behalf of t he Board of Directors and Trustees

DWhitmoreCompany Secretary

Approved by th e Boa rd o f Directors and Trustees on~~~~~~


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Page 4CHILDREN: OUR ULTIMATE INVESTMENT (UK) L IMITEDSTATEMENT OF BOARD OF DIRECTORS' AND TRUSTEES' RESPONSIBILITIESYEAR EN DED 28 FEBRUARY 2007

Company law and Charity law requires the Board of Directors and Trustees to prepare financialstatements for each financial year which give a true and fair view of the s ta te of affairs of the Charityand of the surplus or deficit of income of the Charity for that year. I n preparing those financialstatements, the Board of Directors and Trustees are required to :

- select suitable accounting policies and t hen app ly them consistently;

- make judgements and estimates that are reasonable and pruden t;

- state whether applicable accounting standards and statements of recommended practice havebeen followed, subject to any departures disclosed and explained in the f inancial s tatements;

- prepare the financia l statements on a going concern basis unless it is inappropriate to presumetha t the Cha rit y w ill continue in operation.

The Board of Directors and Trustees a re r espons ib le for ke ep in g p rope r accounting records whichdisclose with reasonable accuracy at an y time the financial position of the Charity and to enable them toensure that the financial statements comply with the Companies Act 1985 , the Statement ofRecommended Practice for Accounting by Char it ie s and the Charity's governing document. They arealso responsible for safeguarding the assets of the Charity and hence for taking reasonable steps forthe prevention and detection of f raud and other irregularit ies.I n so far as each and every director and trustee is aware:- there i s n o r e levan t aud it information of which the auditors are unaware; and

each and every director and trustee ha s taken all steps that they ought to have taken to makethemselves aware of an y relevant audit information and to establish that the auditor is aware ofthat information.


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INDEPENDENTAUDITORS' REPORT TO TH E MEMBERS OF CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDCHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDYEAR ENDED 28 FEBRUARY 2007

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W e hav e audi ted th e financial s t a t emen t s of Children: Our Ul t imate I n v e s tmen t (UK) L imi ted for t he ye ar e n d e d 28 February 2007 whichcompr i se o f th e S t a t em e n t o f F inanc ia l Activities and I ncome and Expendi tu r e Account, th e B a la n ce S h ee t and th e r ela te d n o te s . Thesef inancial s t a t emen t s ha v e b ee n p re pa re d u nd er t he historical cos t con ven t io n and th e accoun t i ng pol icies se t ou t therein .

This report is made solely to th e company's members, as a body, in accordance w it h Sec ti on 235 of th e CompaniesAct 1985. Our audi twork has been undertaken so t ha t w e might state to the company's members those matters we are required to state to them in anauditor's report and for no o t he r purpose . To th e fullest extent permit ted by law, we do no t accept o r assume responsibility to anyoneother than th e company and th e company's members as a body, for our audit work, for this report, o r fo r the opinions we h av e formed.RESPECTIVE RESPONSIBILITIES OF TH E BOARD OF D IRECTORS AND TRUSTEES AND THE AUDITORSThe Board of Directors and Trustees of Children: Our Ultimate Investment (UK) L imi ted for t he purposes of charity law), are responsiblefo r preparing th e Directors Annual Report and th e financial statements in accordance with applicable law and United KingdomAccounting Standards (Uni ted K ingdom General ly Accepted Accounting Practice) as set out in t he S t a tement of Board of Direc to rs ' andTrustees' Responsibilities.Our responsibility is to aud it t he f inanc ia l statements in accordance with relevant legal and regula to ry requi remen ts and InternationalStandards on Auditing (UK and Ireland).We r ep or t to you ou r opinion as to whether t he f inancial statements give a true and fair view and are proper ly prepared in accordancew it h t he Companie s Act 1985. We a lso r epo rt to you if, in our op in io n , t he inf o rma ti o n given in t he D ir ec to rs ' a nd Trustees' Repor t isconsistent with the f inancial s tatements, i f th e charity has no t kept proper accounting records, if we have no t received all t he in fo rmat ionand explanations we require for ou r aud it , o r if in format ion specif ied by law regard ing d irec to rs ' remunerat ion and t ransactions w it h t hecharity is no t disclosed.We read o th er i nfo rma tio n co nt ain ed in t he D ir ec to rs ' and Trustees' Report , and consider whether it is consistent w it h t he auditedf inancial s ta t emen ts . We cons ide r the implicat ions fo r our audit report if we become aware of any apparent misstatements o r ma t er ia linconsistencies w it h t he f inanc ia l statements. Our responsib i li t ies do no t extend to any other information beyond that referred to in thisparagraph.BASIS OF OP IN IONWe conducted ou r audit in accordance with International Standards on Auditing (UK and Ireland) issued by th e Auditing PracticesBoard. An audit includes examination, on a test basis, of ev idence re levant to the amoun ts and disclosures in the f inancial statements.It also includes an assessment of the significant est imates and judgements made by t he d irec to rs in th e preparat ion of th e financials ta temen ts, and of whether th e accounting policies are appropriate to t he chari t y' s circumstances, consistently applied and adequatelydisclosed.We p lanned and pe rf o rmed our audit so as to obtain all t he inf ormat io n and explanations which we considered necessary in order toprovide us with sufficient evidence to give reasonable assurance as to whether t he f inanc ia l statements are fre e from materialmisstatement, whether caused by fr au d o r o the r i rregular it y o r error. In forming our opinion we also eva lua ted the overall adequacy oft he presen tat ion of information in th e financial statements.

OPINIONIn ou r opinion the f inancial statements:- give a true and fai r view, in accordance with United Kingdom Generally Accepted Accounting Practice, of t he s ta te of t he chari t y' sa ffa ir s as at 28 February 2007 and of its incoming resou rces and application of resources, including its income and expenditure, fo r they ea r t he n e nd ed : and- have been properly prepared in accordance with th e Companies Act 1985.

In our opinion t he info rmat ion given in t he D ir e ct o rs ' and Trustees' Report is consistent wi th the f inancial statements.

k k y ~ ~ ~~~ ( - vEuro House Mac ln ty re H u ds on L LP1394 High Road C ha rte red Accountan ts andLondon N 20 9 YZ Reg i s te r ed Aud it o r~.a..~.~~


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CH I LDREN : OUR ULTIMATE INVESTMENT ( UK ) LIMITEDSTATEMENT OF FINANCIAL ACTIVITIES AN D INCOME AND EXPENDI TURE ACCOUNTFOR THE YEAR ENDED 28 FEBRUARY 2007

IN C OM I NG RESOURCESIncoming resou rces f rom chari table act iv it ies:GrantsProgramme fees

Voluntary & other income:I n v e s tmen t i ncomeOther i n c o m i n g resourcesTOTAL INCOMING RESOURCESRESOURCES EXPENDEDCharitable activit iesGovernance costs

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2007 2007 2007 2006Un r es t r i c t ed Res t r i c t edFunds Funds Total Total

Note s

1 383,777 173,4 02 557,179 24 6,687173,664 173,664 53,042383,777 347,066 730,84 3 29 9 ,729

6,4 4 2 - 6 , 442 1,8263,885 - 3,885 4 ,250II394,104 347 ,066 741,170 305,805

224 ,74 3 266,04 3 490,786 313,36210,217 - 10,217 4 ,74022TOTAL RESOURCES EXPENDED 2

NET INCOMINGI (OUTGOING) RESOURCESFOR THE YEAR BEFORE TRANSFERS

234 ,960 266 ,04 3 501,003 318 ,102

159 ,144 81 ,02 3 240,167 (12 ,297)Transfers between fundsNET INCOMINGI(OUTGOING) RESOURCES FOR THE YEARBEING NET INCOME/(EXPENDITURE) FOR THE YEAR

159 ,144 81,023 240,167 (12 ,297)

OTHER RECOGN ISED GAINS AND LO S SE SGains/(losses) on investments:Realised gains/(losses) on investmentsUnrealised ga ins / ( losses) on investmentsNET MOVEMENT IN FUNDSBALANCES BROUGHT FORWARDAT 1 MARCH 2006

15 9 ,144 81 ,023 240,167 (12 ,297)

BALANCES CARRIED FORWARDAT 28 FEBRUARY 2007

55 , 498 55,498 67,795214 ,642 81,023 295,665 55,4 98

There were no other recognised gains or losses.Al l operations ar e continuing.

The notes and accounting po l i c i es on p ag e s 8 to 13 form pa r t of the financial s t a t em en t s


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CHILDREN: OUR ULTIMATE INVESTMENT (UK ) L IM ITEDBALANCE SHEETAT 28 FEBRUARY 2007

FIXED ASSETSTangible assets

2007 2006Notes

5 22,535

CURRENT ASSETSDebtors 6 42,461 72 ,126Cash at bank and in hand 573,754 195,689

616,215 267,815

CREDITORS: Amounts fa ll ing duewithin one year 7 (343,085) 21 9,648)

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F -

7,331

NET CURRENT ASSETS 273,130 48,167

NET ASSETS 295 ,665 55,498

FUNDSUnrestr ic ted General fundRestricted fund 8 214 , 6 42

55,49881 ,023 -

295,665 55,498

These f inancial s ta tements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985relating to small companies, th e Financial Report ing Standard for Smaller Ent it ies (ef fec t ive January 2005) , t he Charities Act1993 and in accordancewith th e Sta tement of Recommended Pract ice 'Accounting by Chari ti es ' (SORP 2005) .

Approved by th e Bokd of Directors and Trus tees onVV~~.~~

!itmoreDirector

The no tes and accounting policies on pages 8 to 13 form part of th e financial statements


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CHILDREN: OUR ULTIMATE INVESTMENT (UK ) LIMITEDSTATEMENT OF ACCOUNT ING POL IC IESYEAR ENDED 28 FEBRUARY 2007

The principal account ing policies which a re a d op te d in t h e p r ep a r at io n of th e f inanc ia l s t a t emen ts a re se t ou t below:

Pag e 8

BASIS OF ACCOUNTINGThe f inancial statements have been prepared under the h is t or ical cost convent ion and in accordance with the F inancialReport ing Standard fo r Smaller Ent it ies (e ffect ive January 2005). The f inancial statements also comply wit h t he Statement ofRecommended Prac tice fo r Accounting by Cha rit ie s (SORP 2005), th e Charit ies Act 1993 and th e Companies Act 1985.INCOMEThe Chari ty 's i ncome is der i ved from three main sources ; grants , programme fees a n d in v es tm e n t in c om e .Recogni t ion of grant income is on a receivable basis in conjunction with th e grant rules and in accordance with th e FinancialReport ing Standard for Smal le r En ti ti es (e ffec t ive January 2005) .

Whe re g rant paymen t is received in advance of p ro je ct s being per fo rmed, t he Cha rit y r ecognises , as def er red in come, al iab il it y equa l t o the amount received, representing its obligations t o car ry out th e project. That liability is reduced and reportedas income as t he p ro je ct is performed. Where en t it lement occurs be fo re the grant is received th e income is accrued.P rogramme fees are recognised according to th e period that th e course cove rs and is on an accruals basis.Donations are included in income when received.Income from investments is recognised on a receivable basis.CASH FLOW STATEMENTThe Board of Directors and Trustees have t aken advan tage of th e exemption in Financial Report ing Standard No. 1 fromincluding a cash f low sta tement in th e financial statements on th e grounds that t he Char it y is small.FIXED ASSETSAll fixed assets are in it ially recorded at cost.DEPRECIATIONDepreciation is calculated so as to write off the cost of an asset, less its estimated res idua l value , over th e useful economic lifeof that asset as follows:

Fixtures & Fittings - 4 years straight lineEquipment - 3 years s traigh t line

RESOURCES EXPENDEDExpendi ture is recognised on an accruals basis as a liability is incurred.

Char itable expendi ture comprises those costs in cu rr ed by t he Cha rit y in th e delivery of its act iv it ies and services fo r itsbeneficiaries. It inc ludes both costs that can be allocated d irect ly t o such activities and t hose cos ts of an indirect naturenecessary to support them.Governance cos ts i nc lude t hose cos ts associated with meeting th e constitutional and statu tory requ irements of t he chari ty andinclude th e audit fees and any cos ts lin ked t o th e st ra tegic management of th e Charity.

All c os ts a re a llo ca te d b etwe e n th e expend i t u re categor ies of th e SoFA on a basis des igned to reflect th e use of t h e r e sou r ce .Costs relat ing to a pa rt icular activi ty a re a l loca ted direct ly, o thers a re a pp o rt ioned on an appropr ia te basis as se t ou t in note 2.OPERATING LEASESRentals on operating leases where substant ia lly al l of th e risks and rewards o f owne rship r emain with t he lessor ar echarged to th e SoFA on a straight line basis over th e period of th e lease.


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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDNOTES TO THE F INANCIAL STATEMENTSYEAR ENDED 28 FEBRUARY 2007

1 INCOMING RESOURCES

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Unres t r i c t ed Restr i c ted Total TotalF u n d s Funds 2007 2006

Incoming resources from chari table activities:GrantsAR K grant income 383,777 65,000 4 4 8 ,777 157,890Esmee Fairbairn Foundatiom - 61 ,328 61 ,328 25 ,238Equi tab le Chari tab le Trus t g ran t income - 25,000 25,000 15,000Charies Hayward Foundation grant income - 10,000 10,000 10,000Department of Heal th g rant i ncome - 6,710 6,710 20,317Jack Petchey gran t income - 5 ,364 5,364 18,242

Programme feesBrent local authorityIslington local authorityIslington Stand AloneGreenwich Stand AloneCamden Stand AloneSouthwark social serviceHaringey Stand AloneLincolnshire local authorityNorthamptonshire local authorityGreenwich local authority

383,777 173,402 557,179 246,687

54 , 443 54,443 9,07446,667 46,667 23,333

- - 10,00017,183 17,183 4,81713,254 13,254 3 , 9 1 326,862 26,862 1 , 9 0 54,500 4,500 -3,960 3,960 -3,750 3,750 -3,045 3,045 -

173,664 173,664 53,042

Total incoming r esources from chari table act iv i t iesInvestment income:

Bank interest receivable

383,777 34 7,066 730,84 3 299 ,729

6,4 4 2 6,4 4 2 1,826Other i ncome:

Donat ionsConsul tancy FeesHMRC online f i l i n g rebate

TOTAL INCOMING RESOURCES

2 RESOURCES EXPENDEDCosts direct ly attributable to activitiesCore directors' costs & NIC

Teens and toddlers facil itators and assistantsTeens and toddlers staff salaries & NICTeens and toddlers programme management salary & NICCore staff salariesTeens and toddlers clinical services counsellingTeens and toddlers research costsEsmee Fairbairn research off icerCore business deve lopment managerCore in house trainingTeens and todd lers Department of Health strategy costsTeens and toddlers facil itator trainingTeens and toddlers coach hire and t rave lTeens and toddlers course materialsTeens and toddlers supervision & quali ty assuranceTeens and toddlers national award accreditationTeens and toddlers nursery expensesAR K academy feesTeens and toddlers o thersTeens and toddlers report wr it ing and evaluationTeens and toddlers Esmee Fairbairn research costTeens and toddlers mobi le phone costsTeens and toddlers internal moderator (NCFE)Teens and toddlers postage & deliveryTeens and toddlers cert if ica te ceremony awardTeens and toddlers contract workTeens and toddlers nursery donat ionsTeens and toddlers l egal and profess ionalTeens and toddlers room hireCore temporary staff

3 5 - 3 5 4,0003,600 - 3,600 -

25 0 25 0 25 03,885 - 3,885 4,250394,104 347,066 74 1 ,170 305 ,805

Susta inab i l i ty S tand Alone Total Totalpro jec ts Pro jec ts 2007 2006

88, 944 30, 437 119,381 69,17155 , 717 2 2 , 907 7 8 , 6 2 4 68 ,2 2 333,007 11,003 44,010 37,65636,123 6,416 4 2, 53 9 18,13518,088 6,028 2 4,118 7 , 9 7 612,788 2,642 15,430 21 , 73 510,316 4,216 14,5 32 12 ,1838,972 92 0 9,892 -5,681 1,894 7,575 -5,192 1,731 6,923 4,3506,710 - 6,710 5,3175,800 - 5 ,800 7,7104,471 26 3 4,734 3,5993,985 471 4 , 456 5,1203,031 1,227 4,258 1,5003,016 85 7 3,873 1,8362,378 4 73 2,851 4,5802,025 675 2,700 -

521 500 1 , 0 2 1 1 , 0 0 8400 - 400 775

- 345 345 4 , 3 2 12 74 47 32 1 -142 78 2 20 613219 - 219 34679 98 17 7 -- - - 2,700

1,7501,7371,1831,034

Carried forward to page 10 307,880 93,228 4 01 ,108 284 ,558Costs have been allocated agains t each activity directly where possible or otherwise based upon the number of projects and pro rata to thenumber of months t ha t each p ro ject fell into the financial year.


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CH ILDREN: OUR ULTIMATE INVESTMENT ( UK ) LIMITEDNOTES TO THE FINANCIAL STATEMENTS (continued)YEAR ENDED 28 FEBRUARY 200 7

2 RESOURCES EXPENDED (CONTINUED)Support costs allocated to activitiesBrough t down from page 9

RentDepreciationOffice suppliesAdvertising and marketingTelephoneRecruitment expensesEquipment hire & purchaseTravel an d subsistenceInsuranceSubscriptions and membershipsBranding, print ing and reprographicsBank chargesIT software and web developmentOtherElectricityPostage and stationeryLega l and professional feesCriminal Records BureauAccountancy

Resources expended before governance costsGovernance costsAudit

Legal an d professional feesGovernance costs

TOTAL RESOURCES EXPENDED

Susta inab i l i ty S tand Alonepro jects Pro jects

307,880 93,22824,327 8,1098,241 2,7474 ,4 29 2,9524 ,531 1,5112,582 1,7212,977 99 22,023 1,3481,975 1,3171,858 1,2391,776 98 81,553 1,0361 , 2 2 2 8 1 5

93 9 6 1 682 5 2 7 56 5 8 4 3 9610 4072 5 5 17 01,329 886

369,990 120,796

3,300 2,2002,359 2,3585,659 4 ,558

375,649 125,354

Total2007

401,10832 ,43610,9887,3816,0424,3033,9693,3713 ,2923,0972,7642 ,5892,0371 ,5551,1001,0971,0174 252,215

490,786

5,5004,71710,217

501,003

Page 10

Total2006

284,558

3,8026,8302,646

80 31,6671,8613 2 0

1,253392,160271687

1,5784,887

313,362

4 ,740

4 ,740

318,102Costs have been allocated against each activity based upon the number of projects and pro rata to the number of months that each projectfell into the financial year.

3 TOTAL RESOURCES EXPENDED

Charitable activitiesGovernance costs

StaffCosts

262,945

262,945

OtherDepreciation Costs

10,988 216,853- 10,217

10,988 227,070

Total2007

490,78610,217

501,003

2007Staff costs:Wages and salar ies (including NIC) 262,945

Total2006

313,3624,740

3 1 8 , 1 0 2

2006154,673

262,945 154,673


13/19

CHILDREN: OUR ULTIMATE INVESTMENT (UK ) L IM ITEDNOTES TO THE FINANCIAL STATEMENTS (continued)YEAR ENDED 28 FEBRUARY 2007

3 TOTAL RESOURCES EXPENDED ( con t in u e d )

Other costs:Course and nursery costsOff ice suppl iesBuilding costsDonationsTrainingTravelAdvert ising and marketingPrinting, postage and stationeryLegal and professionalAuditAccountancyIT software and web developmentInsuranceTelephoneEquipment hire & purchaseMiscellaneous

No employee received remuneration from the Charity in excess of 60,000 during the year.

Page 11

2007 2006

135,332 102,5557,381 6,83033,536 -- 1,75012,723 12,0603,292 5,2666,04 2 2,64 61,097 9,4365,734 3,3155,500 4 ,7402,215 4 ,8872,037 2,1603,097 1,8614,303 -3,371 8031,410 1,318

227,070 159,627

The average number of employees dur ing the yea r, calculated on t he bas is of ful l t ime equiva lents, ana lysed byfunction was:Direct charitable 1 1 7

1 1 7

4 D IRECTORS ' AND TRUSTEES ' REMUNERATION AND EXPENSES 2007 2006 Aggregate directors emoluments 110,4 57 85,268

Total 110,4 57 85,268

The Charity reimburses expenses incur red by all o f t he directors and Trustees which are wholly and exclusively inconnection with fulf il ling their duties as o f ficers o f the Charity. The amounts involved are immater ia l. No Trusteerece ived remunera t ion f rom the Charity.


14/19

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDNOTES TO THE FINANCIAL STATEMENTS (continued)YEAR ENDED 28 FEBRUARY 2007

5 TANGIBLE FIXED ASSETS

COSTAt 1 March 2006Addit ionsDisposalsAt 28 February 2007DEPRECIATIONAt 1 March 2006Cha rge f or yearOn disposalsAt 28 February 2007NET BOOK VALUEAt 28 Februa ry 2007At 1 March 2006

Page 12

Fixtures& Fittings Equipment Total

70 0 10,891 11,59118,507 7,685 26,192

19207 18,576

350 3,9104 ,802 6,186

37 ,783

4 ,26010,988

5,152 10,096

14 ,055 8 , 480350 6,981

Th e fixed a s se ts a re used by t he Char it y fo r th e fu rt he rance of it s objectives.

6 DEBTORS

DebtorsOther debto rsPrepayments and accrued income

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditorsOther t axa t ion and social securityAccrualsDeferred income

15,248

22,5357.331

2 007 2 006

11,538 -7,500 -23,4 23 72,126

42,461 72,126

2 007 2 006

12,638 15 , 4758,307 4 ,59316,400 26,077305 ,7 40 173,50334 3,085 219 ,64 8


15/19

CHILDREN: OURULTIMATE INVESTMENT (UK) LIMITEDNOTES TO TH E FINANCIAL STATEMENTS (continued)YEAR ENDED 28 FEBRUARY 20078 RESTRICTED FUNDS

Restr icted funds:Esmee Fairbairn research fundOut of town development pilot schemeBrent loca l au tho r it yIsl ing ton loca l au tho r it yGreenwich s tand aloneCamden s tand aloneSou thwark social se rv iceTower Hamle t s s tand aloneHaringey s tand a loneLincolnshire, Bur lington & RedcarNorthamptonshire local authorityGreenwich local authority

Page 13

Equi table Trans fe r1 March Prog . Char i table E sm e e J ack Char les Dept . of Uti l ised/ be tween 28 Feb2006 fees ARK Trust Fairbai rn Pe tchey Haywa r d Hea l th Re leased f u n ds 2007

46,667 - - 25,334 - - - ( 6 3 , 7 4 0 ) - 8,26117,183 4,000 - - - - - (21,183) - -13,254 - - - - 10,000 - (21,939) - 1,31526,862 - - 24,572 - - - ( 5 1 , 4 3 4 ) - -- - - - 1,758 - - (1,758) - -4 ,500 - - - - - - (4,500) - -3,960 36,000 - - - - - (13,896) - 26,0643,750 25 ,000 25 ,000 - - - - (12 ,416) - 41,3343,045 - - 1 ,4 70 3,606 - - (4,072) - 4 ,049

9 ,952 - - - (9,952)- - - - 6,710 (6,710)54 , 443 - - - - - - (54 ,443 )

- 1 7 3 , 6 6 4 65,000 25,000 61,328 5,364 10,000 6,710 ( 2 6 6 , 0 4 3 ) - 81,023

All of the restricted funds represent monies received that have been given specifically towards th e advancement of th e Teens and Toddlersprogramme. The Teens and Toddlers programme focuses on addressing t he p rob lem of th e high rate of teenage pregnancy in Britain and tacklingth e issues that pu t teenagers on th e path to pregnancy. Teens and Toddlers takes at risk teenagers on a 12 week jou rney of exploration builtaround twice weekly sessions with small children in a safe nursery environment . The nursery experience is developed through c lassroom supportsessions focusing on child development , parenting skills, sexuality and relationships.All surpluses on grants relating to projects that have come to an e nd a nd where all condit ions in respect of t he g ra nt h av e been met have beent ransferred to unrestricted funds. Grants where there are no longer any condit ions f o r t he ir specific use have been t ransferred to unrestricted fundsaccordingly.

9 RELATED PARTY TRANSACTIONS

No t r ans ac t ions with re l a t ed pa rt ie s were unde rtaken such a s a re r eq uir ed to be d is c lo s ed u n d e r Financ ia l Repo rt in g Standa rd 8 .

10 COMMITMENTSOPERATING LEASESAt 28 February 2007 t he Char it y h ad th e fol lowing annu a l commi tmen t unde r non-cance l l ab le o p e ra t in g l ea s e s :

2007 2006

Operat ing leases which expireWi t hin two to f ive years 3 0,0 00 3 0,0 00

3 0,0 00 3 0,0 00The Charity is committed to rent of 30,000 per annum to March 2009.

11 COMPANY LIMITED BY GUARANTEEEach member of the Charity has guaranteed to contribute up to 1 in the event of a winding up.


16/19

CHILDREN: OUR ULTIMATE INVESTMENT (UK) L IMITEDMANAGEMENT INFORMATIONYEAR ENDED 28 FEBRUARY 2007

Page 14

The fo llowing pages do not form part of the sta tu to ry f inancia ls tatements which are the subject to the independent auditors' reporto n pag e 5.


17/19

t.0

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITEDAUDITORS' STATEMENT ON THE SUMMARY FINANCIAL STATEMENTYEAR ENDED 28 FEBRUARY 2007

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

Page 15

We have examined the summary f inancial s tatement of Child ren: Our Ult imate Investment (UK) Limitedfo r t he year ended 28 February 2007 as set out on pages 16 and 17.

Respective Responsibilities of the Board of Directors and Trustees an d the AuditorsThe Board of Direc to rs and Trustees are responsible for preparing the summarised annua l report inaccordance with applicable United Kingdom law.Our responsibility is to report to you our op in ion on the consistency o f t h e summary f inancial statementwithin the summarised annual report w it h t he full financial statements and Directors' and Trustees'Report and its compliance with the relevant requirements o f section 25 1 of the Companies Act 1 98 5 andthe regulations made thereunder.We also read the other informat ion contained in th e annual repor t and consider th e implications for ourreport if we become aware of any apparent miss tatements or mate ria l inconsistencies with the summaryfinancial statement.

Basis of Opinion

We conducted our audit in accordance with Bulletin 1999/6 'The auditors ' statement on the summaryf inancial s tatement issued by the Auditing Pract ices Board. Our report on the company's full annualf inancial s tatements descr ibes the basis of our audit opinion on those f inancial statements.

OpinionIn our opin ion the summary f inancial s tatement is consistent with the full f inancial statements and theDirectors' and Trustees' r epor t o f Children: Our Ult imate Investment (UK) Lim it ed fo r t he year ended 28February 2007 and complies with the applicable requirements of section 251 of the Compan ies Act1985, and the regulat ions made thereunder.

Mj,4rr (1L. c c rMaclntyre Hudson LLPChar tered Accountantsand Regis tered Audi tors

Euro H o u s e1394 High RoadLondon N20 9YZ.. . . . . . . ... .... : C : ? . I... . . . : .......


18/19

Z4 .1

CH I LDREN : OUR ULTIMATE INVESTMENT (UK ) L IM ITEDSUMMARY F INANC IAL STATEMENTSTATEMENT O F F INANCIAL ACTIVITIESYEAR ENDED 28 FEBRUARY 2007

INCOMING RESOURCESGrantsProgramme feesInvestment incomeOther incoming resourcesTOTAL INCOMING RESOURCES

RESOURCES EXPENDEDChari table activitiesGovernance cos ts

TOTAL RESOURCES EXPENDED

NET I NCOMING/ (OUTGO ING) RESOURCES FO R THE YEAR

NET MOVEMENT IN FUNDSFUND BALANCES BROUGHT FORWARDFUND BALANCES CARR IED FORWARD

BALANCE SHEETAT 28 FEBRUARY 2007TANGIBLE FIXED ASSETS

Page 16

2007 2006 F -

557,179 246 ,687173,664 53 ,04 26,442 1,8263.885 4,250

741,170 305,805

490 ,786 313 ,36210,217 4 ,74 0

501 ,003 318 ,102

24 0,1 67 (1 2 ,297)

240,167 (12,297)55,498 67,795295,665 55,498

22,535 7,331CURRENT ASSETSDebtors 42 , 461 72,126Cash a t bank and in hand 573,754 195 ,689TOTALASSETS 638 ,750 275 ,14 6CRED ITORS: Amo u n t s f allin g due wi th in on e year (34 3,085) (21 9,64 8)TOTAL LIABILITIES (343,085) (219,648)NET ASSETS 295,665 55,498TOTAL FUNDS 295,665 55 , 498


19/19

CH I LDREN : OUR ULTIMATE INVESTMENT U.K. LIMITEDSUMMARY FINANCIAL STATEMENTSTATEMENT OF FINANCIAL ACTIVITIES ( con t i n u ed )YEAR ENDED 28 FEBRUARY 2007

Page 17

These accoun ts are a summary of information ex tracted f rom t he f ul l annual accounts which have been audited andsubmitted to the Char ity Commiss ion and the Registrar of Companies. These summarised accoun t s may no t containsuffic ient information to allow fo r a full understanding of the financial affairs of the Charity. Fo r further information,the full annual accounts, the auditors' report on t hese accounts and th e Directors' and Trustees' Report should beconsulted. Copies of these can be obtained f rom Children: Our Ultimate Investment (UK) Limited, 47 BermondseyStreet , London, SE1 3XT.

D WhitmoreDirector

~~~ I l q ~ ~ ~ -XO 7

205. coui - children our ultimate investment - accounts february 2007

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