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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

FINANCIAL STAT EMENTS- -__, YEAR EN 09'D 28 FEBRUARY 2009

REGISTERED COMPANY NUMBER: 04001308

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To

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

BOARD OF DIRECTORS

M Shaw F Steel M Blake

COMPANY SECRETARY COMPANY REGISTRATION NO. REGISTERED OFFICE & PRINCIPAL ADDRESS

D Whitmore 04001308 47 Bermondsey Street LONDON SE1 3XT 1099782 Maclntyre Hudson LLP Chartered Accountants Euro House 1394 High Road London N20 9YZ Barclays Bank plc Southwark branch
29 Borough High Street London

REGISTERED CHARITY NO. AUDITOR

BANKERS

SE1 1LY

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE DIRECTORS' REPORT YEAR ENDED 28 FEBRUARY 2009

Page 1

The Board of Directors and the Trustees of Children: Our Ultimate Investment (UK) Limited for the purposes of charity law, have pleasure in presenting their report together with the audited financial statements of the Charity for the year ended 28 February 2009. Children: Our Ultimate Investment (UK) Limited is a company limited by guarantee. PRINCIPAL ACTIVITIES The principal activity of the Charity is to foster and support the education, health, opportunity and development of children and young people.

CONSTITUTION OF THE CHARITY

The Charity is a company limited by guarantee and is governed by the Rules and Regulations of the Memorandum and Articles of Association incorporated on 24 May 2000. The power of appointing and removing Directors and Trustees from the Board is vested in the Board of Directors and Trustees. Membership is non-transferable and ceases upon death. A maximum of seven and a minimum of two members are required at all times. The Charity has the power to invest monies, not immediately required for the furtherance of its objectives, in such investments, securities or property as it thinks fit, subject to a statutory requirements. Currently the Charity has not invested any monies for investment, but has surplus money transferred to a fixed rate deposit account with Barclays Bank Plc.

CHARITY OBJECTIVES

The Charity's principal objectives are as follows: To foster and support the education, health, opportunity and development of children and young people. To meet these objectives the Charity continues to promote, initiate, develop and carry out education and training and arrange and provide assistance at lectures, seminars and classes for children and young people. Its primary activity is the Teens & Toddlers project and the Teens & Toddlers Sustainability Replication Programme. There has been no change in the Charity's objectives during the year. The Charity continues to be run by the Board of Directors and Trustees

REVIEW FOR THE YEAR INCORPORATING ACHIEVEMENTS AND PERFORMANCE Progress and Key Achievements this Year COUI UK continued to maintain growth and positive impact throughout the year. There has been strategic work done to ensure the long term sustainability of the Charity. These achievements have provided for the future stability of COUI UK. 1. CC Works Charity Consultancy COUI commissioned CC Works consultancy for a six month period of intensive fundraising and to research grant giving bodies and corporate who would be aligned with our mission. A database of funders has been developed. We are especially grateful for this expert support to make the next stage in our development. 2. Partnership with the Impetus Trust COUI UK was successful in achieving a partnership with the Impetus Trust. The Impetus applies a venture philanthropy model combining stragetic funding and expertise to charities that have a significant impact on the lives of economically disadvantaged people. After six months of due diligence, a partnership was agreed in February 09. We are grateful to have the opportunity of support from Impetus to evolve from being a small charity (1 million per year) to a medium sized one (3-4 million).

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE DIRECTORS' REPORT (CONTINUED) YEAR ENDED 28 FEBRUARY 2009

Page 2

REVIEW OF THE YEAR ( continued) Progress and Key Achievements this Year ( continuedl 3. National Development Manage Funded for three years by the DCSF, our National Development Manager has been in post for nine months and is proving to be a great asset at COUI. Her background is local authority where she previously held senior positions. Her first six months were spent consolidating the organisation and improving the governance of the COUI UK Board. She is now developing a strategy of expansion, to shift us from opportunistic growth to strategic growth. 4. DCSF Evaluation Intensive Implementation of Teens and Toddlers Pilot February 09 saw the start of the DCSF commission Intensive Implementation Evaluation of Teens and Toddlers. The DCSF commissioned NatCen (National Centre for Social Research) and LSHTM (London School of Hygiene and Tropical Medicine) to carry out an 18 month (Three terms of Teens & Toddlers) evaluation with a Randomised Control Trial, tracking both Teens and Toddlers, young people and a control comparison group. If successful the DCSF may invest substantially in Teens and Toddlers as one of the few programmes in England that approaches teenage pregnancy prevention from a youth development perspective, raising aspiration, self esteem and educational attainment. The last Retrospective Tracking study of Teens and Toddlers graduates (08) showed that 91% of Teens and Toddlers graduates were still in education, employment or training. The DCSF is investing 300,000 in this evaluation which will reach 225 at risk young people with Teens & Toddlers. COUI is currently delivering Programmes to 14 local authorities. We have worked with 1500 young people in a total of 19 local authorities, thus meeting the targets for 2009 in our business plan. In all of COUI UK's Programmes there are approximately 150 Teens & Toddlers Facilitators, 38 of them being In House Staff Senior Facilitators. The Facilitator Training is accredited (by ABC, who is recognised by the National Youth Agency) as a Diploma in Youth Work Level 3 and continues to be successful. With the Teens & Toddlers project, for the National Award in Interpersonal Skills, we continue to have 100% Pass Rate.

Education Officer With funding from the Paul Hamlyn Trust, to further our work with the Youth Panel of Teens & Toddlers graduates who advised us, an education officer was appointed. COUI was invited to submit a proposal to the Sainsbury's Family Trusts to develop new programme for Teens and Toddlers graduates and support them to maintain the positive changes they begin to make through Teens & Toddlers. This programme will enable disadvantaged young people to promote quality personal and social health education (PSHE) in schools, become leaders in their community for those interested in making a difference and for some to become involved in COUI's long term management and development. It has always been the vision of COUI to support the vulnerable at risk young people along a continuum of their development, starting with Teens & Toddlers, continuing to support their positive steps forward. through to young adulthood, culminating in young leaders support and training. Research Three years funding from the Esmee Fairburn foundation which enabled COUI UK to have a full time Research Officer has proven to be successful with the Research Officer continuing to evaluate the efficiency of the Teens & Toddlers project. Grants COUI UK is grateful to have received grants from: Esmee Fairnbairn Foundation, ARK, City Bridge Trust, DCSF, Freemasons Grand Charity Trust, Dulverton Trust, Jack Petchey Foundation and Depa rtment of Health.
Plans for the Future

Until the end of the Ark funding period in December 09, COUI UK will continue to follow the four year Business Plan and to meet performance targets for a number of programmes delivered and number of at risk young people reached. In partnership with Impetus Trust, in 2009, we will be writing a new business plan. We have commissioned CC Works to continue to support our fundraising efforts for 2009.

Conclusion It has been a successful year for COUI UK and one of rapid expansion, supported by the Business Plan and continued core funding from the ARK Foundation through additional fundraising, raising the national profile of COUI UK and through diversifying our programmes. Annual research and evaluation continues to demonstrate that Teens & Toddlers has a positive impact with the vulnerable and at risk young people served by our programmes.

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1,

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE DIRECTORS' REPORT (CONTINUED) YEAR ENDED 28 FEBRUARY 2009

Page 3

Our Vision

Our vision is that young people in the UK are gven the opportunity to participate in a COUI programme so they become empowered to make constructive decisions and achieve positive outcomes in their lives and are able to pass on the benefit of their experience to others". Our Aims Are: To become the recognised UK expert in teenage pregnancy prevention. That the delivery of the Teens and Toddlers programme extends across the UK with the development of regional ' hubs' in areas of greatest need. That the value and benefits of our potential oriented approach to education and training become widely accepted and in demand.

To involve and support our graduates as they broaden the reach and subsequent benefits of the teens and toddler programme to the wider community and so build a sense of community service and purpose. Our Values

We believe in empowering transformational change in young people to enable them to become catalysts for change through developing a self awareness that transcends the purely personal and deepens and widens an individual's sense of well being and self reliance. .

We work with young people through the following values, which honour the individual whilst recognising their fundamental interconnectedness with society and their world. These values are expressed through our methods of delivery, our relationships with young people and through our support of their development.

* Honouring and empowering potential - to raise self esteem and aspiration * Integrity - to act in ways congruent with a sense of self * Inclusivity and connection - to appreciate difference and our interconnectedness * Accountability and transparency - to be self aware and self managing * Love and service - to contribute to the community and make a difference * Non-attachment to outcome - to appreciate the complexity of life * Responsibility to embrace What Is - to learn to live in an ever changing world

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE DIRECTORS' REPORT (CONTINUED) YEAR ENDED 28 FEBRUARY 2009

Page 4

Rese rves Policy The Board of Directors has agreed the following rese rves policy regarding the level of rese rv es it should maintain in order to meet the needs of the Charity: The Charity needs reserves in order to: * . Finance fixed assets and day to day activities; Enable the Charity to cope financially during times of below average income and cover operational overheads and salaries for at least six months; Have additional resources available to cope with revenue and capital requirements arising in the next few years to fulfil its charitable activities.

The present level of reserves and bank facilities are considered adequate to cover the present day to day working capital requirements. In setting its budgets, level of charges for services and in negotiating the level of funding for grants, the Charity takes account of the need to maintain adequate reserves. When reviewing annual budgets and accounts and periodic management accounts and cash flows, the Board of Directors monitors whether the level of income is appropriate to establish and maintain reserves in line with this policy. This policy will be reviewed at least annually. As of 28 February 2009 accumulated funds were: 399,086 (2008: 256,521), of which 341,986 (2008: 61,305) were unrestricted funds and 57,100 (2008: 195,216) were restricted funds. Management of Risk The Board of Directors regularly review the major risks to which the Charity is exposed arising from its operations and the environment. Systems are regularly reviewed and procedures put in place to minimise these risks. Board of Directors The Directors who served the Charity during this year were: M Shaw S Adcock (resigned 28 July 2008) J Ma rt in (resigned 8 December 2008) F Steel M Blake

These financial statements comply with the Charity's governing document, the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2005) and the Companies Act 1985. Auditor The resolution to reappoint Maclntyre Hudson LLP as auditors for the ensuing year will be proposed at the next meeting of the Board of Directors. Small company provisions This report has been prepared in accordance with the special provisions for small companies under part VII of the Companies Act 1985.

Signed on behalf of the Board of Directors

D Whitmore Company Secretary b ~ Approved by the Board of Directors on ..............

kaa ~~

~~

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED STATEMENT OF BOARD OF DIRECTORS' RESPONSIBILITIES YEAR ENDED 28 FEBRUARY 2009

Page 5

Company law and Charity law requires the Board of Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of income of the Charity for that year. In preparing those financial statements, the Board of Directors are required to:

select suitable accounting policies and then apply them consistently;

make judgements and estimates that are reasonable and prudent;

state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements;

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

The Board of Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 1985, the Statement of Recommended Practice for Accounting by Charities and the Charity's governing document. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as each and every director is aware: there is no relevant audit information of which the auditors are unaware; and

each and every director has taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED YEAR ENDED 28 FEBRUARY 2009

Page 6

We have audited the financial statements of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2009 which comprise of the Statement of Financial Activities and Income and Expenditure Account, the Balance Sheet and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out therein.

This report is made solely to the company's members, as a body, in accordance with Section 235 of the Companies Act 1985. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. RESPECTIVE RESPONSIBILITIES OF THE BOARD OF DIRECTORS AND THE AUDITORS

The Board of Directors of Children: Our Ultimate Investment (UK) Limited for the purposes of charity law), are responsible for preparing the Directors Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) as set out in the Statement of Board of Directors' Responsibilities. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985. We also report to you if, in our opinion, the information given in the Directors' Report is consistent with the financial statements, if the charity has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding directors' remuneration and transactions with the charity is not disclosed.

We read other information contained in the Directors' Report, and consider whether it is consistent with the audited financial statements. We consider the implications for our audit report if we become aware of any apparent misstatements or material inconsistencies with the financial statements. Our responsibilities do not extend to any other information beyond that referred to in this paragraph. BASIS OF OPINION

We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the directors in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance as to whether the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.
OPINION In our opinion the financial statements: - give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice, of the state of the charity's affairs as at 28 February 2009 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended: and

- have been properly prepared in accordance with the Companies Act 1985.

In our opinion the information given in the Directors' Report is consistent with the financial statements.

Euro House 1394 High Road London N20 9YZ

Maclntyre Hudson LLP Cha rtered Accountants and Registered Auditor

Date:

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2009

Page 7

2009 Unrestricted
Notes Funds

2009 Restricted
Funds

2009
Total

2008
Total

INCOMING RESOURCES Incoming resources from charitable activities: Grants Programme fees Counselling fees

1 1

376,355 669,242 38,864 1,084,461

376,355 669,242 38,864 1,084,461

381,698 345,539 727,237

Voluntary & other income: Investment income Other incoming resources TOTAL INCOMING RESOURCES RESOURCES EXPENDED Charitable activities Governance costs TOTAL RESOURCES EXPENDED

1 1

22,990 1,553 24,543

1,084,461

22,990 1,553 1,109,004

19,889 2,628 749,754

2 2 2

10,106 10,106

956,333 956,333

956,333 10,106 966,439

781,086 7,813 788,899

NET INCOMINGI(OUTGOING) RESOURCES FOR THE YEAR BEFORE TRANSFERS Transfers between funds NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR BEING NET INCOME/(EXPENDITURE) FOR THE YEAR OTHER RECOGNISED GAINS AND LOSSES Gains/(losses) on investments: Realised gains/(losses) on investments Unrealised gains/(losses) on investments
NET MOVEMENT IN FUNDS BALANCES BROUGHT FORWARD AT 1 MARCH 2008

14,437 266,244 280,681

128,128 (266,244) ( 138,116)

142,565 142,565

(39,144) (39,144)

280,681

( 138,116)

142,565

(39,144)

61,305

195,216

256,521

295,665

BALANCES CARRIED FORWARD AT 28 FEBRUARY 2009

341,986

57,100

399,086

256,521

There were no other recognised gains or losses. All operations are continuing.

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED BALANCE SHEET AT 28 FEBRUARY 2009

Page 8

2009 Notes

2008

15,740

FIXED ASSETS Tangible assets

9,059

CURRENT ASSETS Debtors Cash at bank and in hand

273,161 726,293 999,454

297,678 753,838 1,051,516

CREDITORS: Amounts falling due within one year

(609,427)

(810,735)

NET CURRENT ASSETS

390,027

240,781

NET ASSETS

399,086

256,521

FUNDS Unrestricted General fund Restricted fund 341,986 57,100 399,086 61,305 195,216 256,521

These financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies, the Financial Reporting Standard for Smaller Entities (effective January 2007), the Charities Act 1993 and in accordance with the Statement of Recommended Practice 'Accounting by Charities' (SORP 2005). 349~. . {,vc us-r ZeDo19

Approved by the Board of Directors on

Director

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.,

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED STATEMENT OF ACCOUNTING POLICIES YEAR ENDED 28 FEBRUARY 2009

Page 9

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

BASIS OF ACCOUNTING The financial statements have been prepared under the historical cost convention and in accordance with the Financial Repo rting Standard for Smaller Entities (effective Janua ry 2007). The financial statements also comply with the Statement of Recommended Practice for Accounting by Charities ( SORP 2005), the Charities Act 1993 and the Companies Act 1985. INCOME The Charity's income is derived from three main sources; grants, programme fees and investment income. Recognition of grant income is on a receivable basis in conjunction with the grant rules and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2007).

Where grant payment is received in advance of projects being performed, the Charity recognises, as deferred income, a liability equal to the amount received, representing its obligations to carry out the project. That liability is reduced and reported as income as the project is performed. Where entitlement occurs before the grant is received the income is accrued. Programme fees are recognised according to the period that the course covers and is on an accruals basis. Donations are included in income when received.
Income from investments is recognised on a receivable basis. CASH FLOW STATEMENT The Board of Directors have taken advantage of the exemption in Financial Reporting Standard No. 1 from including a cash flow statement in the financial statements on the grounds that the Charity is small. FIXED ASSETS

All fixed assets are initially recorded at cost.

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

Fixtures and fittings Equipment

4 years straight line 3 years straight line

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

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and any costs linked to the strategic management of the Charity.

All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis as set out in note 2. OPERATING LEASES Rentals on operating leases where substantially all of the risks and rewards of ownership remain with the lessor are charged to the SoFA on a straight line basis over the period of the lease.

FUND ACCOUNTING
Unrestricted funds are available for use at the discretion of the Commi ttee of Management in fu rtherance of the charity. Designated funds are unrestricted funds earmarked by the Committee of Management for particular purposes.

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,,

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2009 Un restricted Funds I INCOMING RESOURCES Incoming resources from charitable activities: Grants ARK grant income Esmee Fairbaim Foundation Department of Health grant income Jack Petchey grant income Restricted Funds Total 2009

Page 10

Total 2008

188,750 28,500 11,487 147,618 376,355

188,750 28,500 11,487 147,618 376,355 128,355 35,043 63,229 17,500 6,942 26,750 4,750 6,580 41,498 7,772

268,750 54,585 11,487 46,876 381,698

Programme fees After Care Progs Stand Alone Frogs Brent local Authority 2 yr Sust. JanO6-Feb 08-July08 City Bridge Trust 105k 3yrs Islington local authority feb08-july08 Lewisham LA SP Sept08-Aug09 Transition and mentoring Enfield LA SP Sep08-AugO9 Haringey Stand Alone Lincolnshire local authority Intensive Imp Feb 09- Jan 10 Greenwich local authority Harlow Essex Redcar LA SP Sep 07-Aug 08 Manchester SP Kent Local Authority and Garfield Match Funder Sutton local authority Northumberland local authority Wasall local authority Cambridge LA SP Feb09-Jan10 Freemasons-Cambridge MF Dulverton- Cambridge MF

128,355 35,043 63,229 17,500 6,942 26,750 4,750 6,580 41,498 7,772

21,170 32,978 28,041 37,732 12,773 46,418 42,562 33,495 3,850 23,750 34,015 6,917 5,000 6,167 5,833 4,400 438

23,750 34,015 76,083 55,000 67,833 64,167 6,500 2,225 1,250

23,750 34,015 76,083 55,000 67,833 64,167 6,500 2,225 1,250

669,242

669,242

345,539

Counselling Fees Counselling Service progs

38,864

38,864

Total incoming resources from cha ri table activities Investment income: Bank interest receivable Other income: Donations Consultancy Fees HMRC online filing rebate

1,084,461

1,084,461

727,237

22,990

22,990

19,889

1,453 100 1,553 24,543 Sustalnability projects

1,453 100 1,553

28 2,450 150 2,628 749,754 Total 2008

TOTAL INCOMING RESOURCES

1,084,461 Stand Alone Projects

1,109,004 Total 2009

2 RESOURCES EXPENDED Costs directly attributable to activities Teens and toddlers senior management salaries & NIC Teens and toddlers facilitators and assistants Teens and toddlers staff salaries & NIC Teens and toddlers programme management salary & NIC Redundancy pay Teens and toddlers clinical services counselling Teens and toddlers research costs Teens and toddlers research officer & NIC Teens and toddlers business development manager & NIC Teens and toddlers facilitator and in house training Teens and toddlers Donations Teens and toddlers coach hire and travel Teens and toddlers course materials Teens and toddlers supervision & quality assurance Teens and toddlers national award accreditation Teens and toddlers nursery expenses ARK academy fees Teens and toddlers counsellor supervision Teens and toddlers report writing and evaluation Teens and toddlers mobile phone costs Teens and toddlers postage & delivery Teens and toddlers certificate ceremony award Teens and toddlers room hire Carried forward to page 11 137,608 209,181 88,039 105,166 24,574 18,668 32,021 30,730 34,147 130 53,412 17,242 4,535 12,765 6,272 6,038 1,692 4,399 146 786,766 10,389 17,877 6,837 8,198 1,333 438 464 1,384 160 450 436 470 101 39 48,576 147,997 227,058 94,877 113,364 24,574 20,001 32,021 30,730 34,584 130 53,876 18,626 4,695 13,215 6,708 6,508 1,793 4,438 146 835,341 142,028 174,326 79,549 83,296 3,000 18,116 16,803 30,165 28,957 18,334 53,333 8,800 7,012 7,425 6,191 1,225 5,756 1,800 1,865 915 5,296 350 694,542

Costs have been allocated against each activity directly where possible or otherwise based upon the number of projects and pro rata to the number of months that each project fell into the financial year.

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2009 Restricted Sustainability projects 2 RESOURCES EXPENDED (CONTINUED) Support costs allocated to activities
Brought down from page 10 Rent Depreciation Loss on disposal Fundraising, advertising and marketing Telephone Recruitment expenses Equipment hire & purchase Travel and subsistence Insurance Subscriptions, memberships and conferences Branding, printing and reprographics Bank charges IT software and web development Other Electricity Postage and stationery Legal and professional fees Criminal Records Bureau Accountancy 786,766 35,740 9,141 34,060 4,194 6,894 1,704 2,654 3,321 6,170 104 635 15 1,137 5,148 656 645 861 48,576 2,065 713 2,657 327 538 209 193 259 481 89 280 51 50 835,341 37,805 9,854 36,717 4,522 7,432 1,913 2,847 3,580 6,651 104 635 15 1,226 5,428 707 695 861

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Restricted Stand Alone Projects

Total 2009

Total 2008

694,542 36,858 12,311 258 2,095 4,342 3,178 3,197 2,230 3,339 3,898 2,137 93 319 120 1,497 9,334 1,172 165 -

Resources expended before governance costs

899,845 Unrestricted

56,489

956,333

781,086

Governance costs Audit Legal and professional fees Governance costs

7,000 3,106 10,106

7,000 3,106 10,106

6,000 1,813 7,813

TOTAL RESOURCES EXPENDED

909,951

56,490

966,439

788,899

Costs have been allocated against each activity based upon the number of projects and pro rata to the number of months that each project fell into the financial year. 3 TOTAL RESOURCES EXPENDED
Staff Costs Depreciation Other Costs Total 2009 Total 2008

Charitable activities Governance costs

443,563

9,854 -

502,916 10,106

956,333 10,106

781,086 7,813

443,563

9,854

513,022

966,439

788,899

2009 Included within charitable activities are consultancy services and staff wages and salaries totalling: 443,563 443,563

2008 385,111 385,111

The numbers of employees or consultants whose emoluments or payments for consultancy services for the year fell within the following bands were: 2009 2008 60,000 to 69,999 1 1

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2009

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3 TOTAL RESOURCES EXPENDED (continued) 2009 Other costs:

Course and nursery costs Office supplies Building costs Training Travel

2008

371,396 39,031 34,584 2,847

36,717 5,428 3,813 7,000 861 635 3,580 4,522 1,913

300,523 7,649 38,355 18,334 2,230

2,095 1,685 2,985 6,000 319 3,339 4,342 3,197

Advertising and marketing Printing, postage and stationery Legal and professional
Audit Accountancy IT software and web development Insurance Telephone Equipment hire and purchase Loss on disposal of fixed assets Miscellaneous

695 513,022

258 166 391,477

Direct charitable

DIRECTORS' AND OFFICERS' REMUNERATION AND EXPENSES

The Charity reimburses expenses incurred by all of the directors which are wholly and exclusively in connection with fulfilling their duties as officers of the Charity. The amounts involved are immaterial. No director received remuneration from the Charity for their services as a director. Consultancy and other payments made to operational directors in respect of expert services and duties are inculded in note 3. This included negotiating grant contracts, actively promoting the Charity and handling the day to day running of the Charity's affairs. All payments were made on normal commercial terms.

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2009

Page 13

5 TANGIBLE FIXED ASSETS Fixtures & Fittings COST At 1 March 2008 Additions Disposals At 28 February 2009 DEPRECIATION At 1 March 2008 Charge for year On disposals At 28 February 2009 NET BOOK VALUE At 28 Februa ry 2009 At 1 March 2008 4,841 4,218

Equipment

Total

19,638 19,638

23,045 3,173 26,218

42,683 3,173 45.856

10,062 4,735 14,797

16,881 5,119 22,000

26,943 9,854 36.797

9,059
15,740

9,576

6,164

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

DEBTORS 2009 Trade debtors Other debtors Prepayments and accrued income 252,508 7,500 13,153 273,161 2008 270,393 7,500 19,785 297,678

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2009 Trade creditors Other taxation and social security Accruals Deferred income 15,570 12,781 30,201 550,875 609,427 2008 F60,214 12,725 9,595 728,201 810,735

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2009 8 RESTRICTED FUNDS Transfer between funds

Page 14

1 March 2008

Prog. fees

ARK

Esmee Jack Dept. of Utilised/ Fairbairn Petchey Health Released

28 Feb 2009

Restricted funds:
Development manager Research officer counselling After care programmes Stand alone programmes Brent local authority Islington local authority City Bridge Trust Lewisham LA Transition and mentoring Southwark social service Haringey stand alone NE Lincolnshire Northamptonshire local authority Greenwich local authority Harlow Essex Redcar Cleveland North Yorkshire Manchester SP Kent SP Su tton local authority Nort humberland local authority Wasall local authority Intensive Imp Cambridge LA 7,425 18,270 69,753 30,020 44,971 3,850 6,115 1,384 4,662 6,304 2,462 77,728 18,155 35,043 78,708 23,262 24,080 27,750 4,750 22,998 43,060 36,483 6,492 29,875 34,015 78,545 56,310 67,833 65,690 7,772 9,975 7,039 12,905 12,914 12,905 7,039 7,039 7,039 14,079 12,905 5,866 14,078 12,894 14,079 14,079 12,906 18,640 1,173 1,173 28,500 46,655 21,635 39,664 39,664 (35,175) (32,021) (74,921) (22,876) (60,330) (66,314) (44,024) (32,283) (32,755) (3,202) (26,108) (67,540) (45,922) (21,074) 3,521 (1,454) 4,000 12,382 (21,527) 1,494 1,164 908 (1,548) (22,199) (26,804) (73,219) (21,304) (44,971) (3,850) 19,531 (15,351) (27,212) (48,601) 4,865 (3,912) (2,308) 151 11,480 1,353 6,318 3,781 1,062 24,577 2,459 6,070

11,487 -

(69,599) (44,429) (70,074) (67,756) (88,066) (80,418) (6,637) (5,229)

195,216 748,524 188,752

28,500 147,618

11,487 (996,753) (266,244)

57,100

All of the restricted funds represent monies received that have been given specifically towards the advancement of the Teens and Toddlers programme. The Teens and Toddlers programme focuses on addressing the problem of the high rate of teenage pregnancy in Britain and tackling the issues that put teenagers on the path to pregnancy. Teens and Toddlers takes at risk teenagers on a 12 week journey of exploration built around twice weekly sessions with small children in a safe nursery environment. The nursery experience is developed through classroom support sessions focusing on child development, parenting skills, sexuality and relationships. All surpluses on grants relating to projects in specific ares that have come to an end and where all conditions in respect of the grant have been met have been transferred to unrestricted funds. Grants where there are no longer any conditions for their specific use have been transferred to unrestricted funds accordingly.

9 RELATED PARTY TRANSACTIONS No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8, other than those included in note 4.

10 COMMITMENTS OPERATING LEASES At 28 February 2009 the Charity had the following annual commitment under non-cancellable operating leases:

2009 Operating leases which expire Within one year Within two to five years

2008 30,000

45,000

45,000

30,000

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

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It

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED SUMMARY FINANCIAL STATEMENT YEAR ENDED 28 FEBRUARY 2009

The following pages do not form part of the statutory financial statements which are the subject to the independent auditors' report on page 6.

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED AUDITORS' STATEMENT ON THE SUMMARY FINANCIAL STATEMENT YEAR ENDED 28 FEBRUARY 2009

Page 16

Independent Auditors' statement to the Board of Directors of Children: Our Ultimate Investment (UK) Limited We have examined the summary financial statement of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2009 as set out on page 17. This report is made solely to the company's members, as a body, in accordance with Section 235 of the Companies Act 1985. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. Respective Responsibilites of the Board of Directors and the Auditors The Board of Directors are responsible for preparing the summarised annual report in accordance with applicable United Kingdom law. Our responsibility is to report to you our opinion on the consistency of the summary financial statement within the summarised annual report with the full financial statements and Directors' Report and its compliance with the relevant requirements of section 251 of the Companies Act 1985 and the regulations made thereunder. We also read the other information contained in the annual report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summary financial statement.

Basis of Opinion

We conducted our audit in accordance with Bulletin 1999/6 'The auditors' statement on the summary financial statement issued by the Auditing Practices Board. Our report on the company's full annual financial statements describes the basis of our audit opinion on those financial statements.

Opinion In our opinion the summary financial statement is consistent with the full financial statements and the Directors' report of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2009 and complies with the applicable requirements of section 251 of the Companies Act 1985, and the regulations made thereunder.

Euro House 1394 High Road London N20 9YZ Date: q-,f ( ~ 0 1

Maclntyre Hudson LLP Cha rtered Accountants and Registered Auditor

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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED SUMMARY FINANCIAL STATEMENT STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 28 FEBRUARY 2009 2009 INCOMING RESOURCES Grants Programme fees Couselling fees Investment income Other incoming resources TOTAL INCOMING RESOURCES 376,355 669,242 38,864 22,990 1,553 1,109,004

Page 17

2008

381,698 345,539 19,889 2.628 749,754

RESOURCES EXPENDED Charitable activities Governance costs

956,333 10,106

781,085 7,813

TOTAL RESOURCES EXPENDED

966,439

788,898

NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR

142,565

(39,144)

NET MOVEMENT IN FUNDS FUND BALANCES BROUGHT FORWARD FUND BALANCES CARRIED FORWARD

142,565 256,521 399,086

(39,144) 295,665 256,521

BALANCE SHEET AT 28 FEBRUARY 2009 TANGIBLE FIXED ASSETS CURRENT ASSETS Debtors Cash at bank and in hand TOTAL ASSETS CREDITORS: Amounts falling due within one year TOTAL LIABILITIES NET ASSETS TOTAL FUNDS 9,059 15,740

273,161 726,293 1,008,513 (609,427) (609,427) 399,086 399,086

297,678 753,838 1,067,256 (810,735) (810,735) 256,521 256,521

These accounts are a summa ry of information extracted from the full annual accounts which have been audited and submitted to the Charity Commission and the Registrar of Companies. These summa ri sed accounts may not contain sufficient information to allow for a full understanding of the financial affairs of the Charity. For fu rther information, the full annual accounts, the auditors' report on these accounts and the Directors' Repo rt should be consulted. Copies of these can be obtained from Children: Our Ultimate Investment (UK) Limited, 47 Bermondsey Street, London, SE1 3XT.

Director

Date:

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