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CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2011


REGISTERED CHARITY NUMBER: 1099782

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

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

BOARD OF DIRECTORS

M Shaw R J McIntosh R A Johnson (appointed 26 March 2010) A Clinch (appointed 26 November 2010) S J Dark (appointed 31 March 2011)

COMPANY SECRETARY & CHIEF EXECUTIVE OFFICER COMPANY REGISTRATION NO. REGISTERED OFFICE & PRINCIPAL ADDRESS

D Whitmore

04001308 47 Bermondsey Street LONDON SE1 3XT 1099782 MacIntyre Hudson LLP Chartered Accountants & Registered Auditor Euro House 1394 High Road London N20 9YZ Barclays Bank plc Southwark branch 29 Borough High Street London SE1 1LY

REGISTERED CHARITY NO. AUDITOR

BANKERS

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE TRUSTEES' REPORT YEAR ENDED 28 FEBRUARY 2011

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The Board of Directors and the Trustees of Children: Our Ultimate Investment (UK) Limited for the purposes of charity and company law, have pleasure in presenting their report together with the audited financial statements of the Charity for the year ended 28 February 2011.

Children: Our Ultimate Investment (UK) Limited, (COUI UK), 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 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 Charitys 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 arranges and provides assistance at lectures, seminars and classes for children and young people. Its primary activity is the Teens & Toddlers project and the Teens & Toddlers Sustainability Replication Programme. There has been no change in the Charitys objectives during the year. The Charity continues to be run by the Board of Directors and Trustees. REVIEW OF THE YEAR INCORPORATING ACHIEVEMENTS AND PERFORMANCE Introduction The downturn in the economy has challenged many charities in the Third Sector and many have had to make across-the-board redundancies. Charities are receiving fewer donations and the general demand on all organisations is to look carefully at costs and expenditure, making economies where they can. At COUI UK we, too, have felt the challenge and have worked hard to lower operating and staff costs.

Progress and Key Achievements this Year There has been further strategic work done to ensure the long-term sustainability of the Charity. These achievements have gone a long way towards the future stability of COUI UK. The deficit of 115,146 in 2010 has been turned around to deliver a small surplus of 6,745 in 2011. This has been achieved by: 1. Fundraising Strategy COUI UK has executed on its 2010 strategy to employ a full time fundraiser to replace revenues that formerly came from Local Authorities with income from trusts and corporate bodies. The fundraisers work is closely supported by the Chief Executive and has been extremely successful. On 25 February 2011 a Department for Education Grant for 488,000 over 2 years was confirmed, and in November 2010 COUI was selected as one of the charities included in the Guardian and Observer Christmas Appeal. Central to our fundraising strategy is the generation of three-year grants for core costs. We have been highly successful in this and 36% of our 2011 grant income has been pledged over 2, 3 or 4 year periods. 2. Partnership with the Impetus Trust COUI UKs 3-year partnership with Impetus was signed in October 2010. Impetus has continued to support us with pro bono assistance and in developing our strategies to extend our reach in future.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE TRUSTEES' REPORT (CONTINUED) YEAR ENDED 28 FEBRUARY 2011 REVIEW OF THE YEAR (continued) Progress and Key Achievements this Year (continued) 3. Cost Control Measures

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The economic climate worsened in the year and we continued to scrutinise our cost structures and operating processes. As a result it was necessary to make some staff redundant. 4. Development of New Sales Models In response to the reduced availability of Local Authority funding we have developed new ways of accessing funds directly from schools as well as fundraising activities.

5. DCSF Evaluation Intensive Implementation of Teens & Toddlers Pilot The fieldwork for the Department for Education Intensive Implementation Evaluation of Teens & Toddlers was completed in July 2010 and the final outcomes will be reported in April 2012. The last Retrospective Tracking study of Teens & Toddlers graduates (2010) showed that 93 % of Teens & Toddlers' graduates were still in education, employment or training and 97.4% under the age of 20 do not have a conception. 6. North West Regional Hub In order to strengthen our delivery capability we have finalised our plans to establish a local presence in the North West, (Manchester), by working closely with a local not-for-profit organisation. 7. Education Officer With continued funding from the Paul Hamlyn Trust, to further our work with the Teens & Toddlers Young leaders programme for graduates, the Education Officer has been very successful. It continues to be our vision to support vulnerable at risk young people along a continuum of their development, starting with Teens & Toddlers, continuing to support their positive steps forward through to young adulthood, culminating in young leaders support and training. We are now in the process of developing a Level 2 NCFE Award programme for teens and toddlers graduates and a 2 day SRE programme which confers a Level 1 NCFE Award. In 2011 COUI delivered programmes to 20 Local Authorities. We have worked with over 3,500 young people in a total of 26 local authorities, and trained over 215 local authority Teens & Toddlers facilitators. In all of COUI UKs Programmes there are still approximately 150 Teens & Toddlers Facilitators, 38 of them being In House Staff Senior Facilitators. The Facilitator Training is accredited by ABC, who is recognised by the National Youth Agency as a Diploma in Youth Work Level 3 and continues to be successful. With the Teens & Toddlers project, for the National Award in Interpersonal Skills, we continue to have nearly 100% Pass Rate. 8. Grants COUI UK is grateful to have received grants from: Esmee Fairbairn Foundation, ARK, City Bridge Trust, Deptartment for Education, JP Getty Foundation, Paul Hamlyn Trust, Drapers Company, Garfield Weston Foundation, Dulverton Trust, Portishead Nautical Trust, State Street Bank and Trust Company, JP Morgan, Impetus, The Monument Trust and Pfizer. We were also nominated as one of the charities for the Guardian and Observer newspaper Christmas Appeal. We are extremly grateful for the generosity of our supporters who are critical in helping us achieve our aim to transform the lives of more young people.

Conclusion Although another challenging year in the environment in which we operate has been fundamentally changed we believe it has been a good year for COUI UK. The 2010 deficit has been converted to a break-even position this year whilst we have also significantly strengthened our management team and executed on our fundraising strategy.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE TRUSTEES' REPORT (CONTINUED) YEAR ENDED 28 FEBRUARY 2011 Our Vision

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"To inspire young people to achieve the skills, qualifications and self belief they need to succeed in education, work and life. Our vision is a society where all young people feel valued, included and inspired to contribute to their communities" Our Aims Are: - For all young people to feel valued, included and inspired to contribute to their communities - Inspiring young people to achieve their skills, qualifications and self belief they need to succeed in education and life

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 individuals sense of identity and being, bringing about an increased 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 Public Benefit The Trustees have given due consideration to the Charity Commission published guidance on the operation of the public benefit requirements. All of our charitable activities focus on the empowering of young people and are undertaken to further our charitable purposes for the public benefit.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED THE TRUSTEES' REPORT (CONTINUED) YEAR ENDED 28 FEBRUARY 2011 Reserves Policy

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The Board of Directors has agreed the following reserves policy regarding the level of reserves it should maintain in order to meet the needs of the Charity: 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 2011 accumulated funds were: 290,685 (2010: 283,940), of which 287,382 (2010: 258,944) were unrestricted funds and 3,303 (2010: 24,996) were restricted funds. Management of Risk The Board of Directors regularly reviews the major risks to which the Charity is exposed arising from its operations and the environment. Systems are regularly reviewed and procedures put in place to minimise these risks. Board of Directors The Directors who served the Charity during this year were: M Shaw R J McIntosh J A Nadolski (resigned 15 February 2011) R A Johnson (appointed 26 March 2010) A Clinch (appointed 26 November 2010) S J Dark (appointed 31 March 2011)

These financial statements comply with the Charitys governing document, the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2005) and the Companies Act 2006. Auditor MacIntyre Hudson LLP are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

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

Signed on behalf of the Board of Directors

D Whitmore Company Secretary

Approved by the Board of Directors on

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED STATEMENT OF BOARD OF DIRECTORS' RESPONSIBILITIES YEAR ENDED 28 FEBRUARY 2011

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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 adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Statement of Recommended Practice for Accounting by Charities and the Charity's governing document. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 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.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED

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INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED YEAR ENDED 28 FEBRUARY 2011 We have audited the financial statements of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2011 which comprise the Statement of Financial Activities and Income and Expenditure Account, the Balance Sheet and related notes. The financial reporting framework that has been applied to their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS As explained more fully in the Trustees Responsibilities Statement set out on page 5, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Boards (APBs) Ethical Standards for Auditors. SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable companys circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. OPINION ON FINANCIAL STATEMENTS In our opinion the financial statements: give a true and fair view of the state of the charitable companys affairs as at 28 February 2011 and of its incoming resources and the application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities), and; have been prepared in accordance with the requirements of the Companies Act 2006.

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion the information given in the Trustees Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches 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 companies exemption in preparing the Trustees Annual Report.

Euro House 1394 High Road London N20 9YZ Date:

Christopher Jackson BSC FCA (Senior Statutory Auditor) For and on behalf of: MacIntyre Hudson LLP Chartered Accountants & Statutory Auditor

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2011 2011 Unrestricted Funds 2011 Restricted Funds 2011 Total

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2010 Total

Notes

Incoming resources from charitable activities:


1

296,153 296,153

359,607 308,606 19,852 688,065

655,760 308,606 19,852 984,218

330,497 594,392 50,287 975,176

Programme fees Counselling fees

1 1

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

1 1

296,153

142 2,305 690,512

142 2,305 986,665

589 1,225 976,990

2 2 2

(0) 6,000 6,000

973,920 973,920

973,920 6,000 979,920

1,081,990 10,146 1,092,136

NET INCOMING/(OUTGOING) RESOURCES FOR THE YEAR BEFORE TRANSFERS Transfers between funds NET INCOMING/(OUTGOINGS) 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 2010 BALANCES CARRIED FORWARD AT 28 FEBRUARY 2011

290,153 (261,715) 28,438

(283,408) 261,715 (21,693)

6,745 6,745

(115,146) (115,146)

28,438

(21,693)

6,745

(115,146)

258,944

24,996

283,940

399,086

287,382

3,303

290,685

283,940

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

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED BALANCE SHEET AT 28 FEBRUARY 2011 2011
Notes

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2010 4,677 8,733

FIXED ASSETS Tangible assets

CURRENT ASSETS Debtors Cash at bank and in hand

217,993 467,267 685,260

287,025 481,215 768,240

CREDITORS: Amounts falling due within one year

(399,252)

(493,034)

NET CURRENT ASSETS

286,008

275,206

NET ASSETS

290,685

283,940

FUNDS Unrestricted General fund Restricted fund 287,382 3,303 290,685 258,944 24,996 283,940

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies, the Financial Reporting Standard for Smaller Entities (effective January 2008), the Charities Act 2006 and the Statement of Recommended Practice 'Accounting by Charities' (SORP 2005).

Approved by the Board of Directors on

M Shaw Director Registered Company Number 04001308

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED STATEMENT OF ACCOUNTING POLICIES YEAR ENDED 28 FEBRUARY 2011 The principal accounting policies which are adopted in the preparation of the financial statements are set out below: BASIS OF ACCOUNTING The Charity's income is derived from three main sources; grants, programme fees and investment income.

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Recognition of grant income is on a receivable basis in conjunction with the grant rules and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). 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 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 has taken advantage of the exemption in Financial Reporting Standard No. 1 from including a cash flow statement in the financial statements on the grounds that the Charity is small. 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 EXPENDITURE

4 years straight line 3 years straight line

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 Committee of Management in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Committee of Management for particular purposes. Restricted funds are those subject to specific restrictions imposed by donors and funders. These are detailed in note 8.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 28 FEBRUARY 2011 Unrestricted Funds 1 INCOMING RESOURCES Incoming resources from charitable activities: Grants ARK Awards for all City Bridge Trust Department for Education Department for Education Grant Department for Education Randomised Control Trial Drapers Company Dulverton Trust Esmee Fairbairn Foundation First Light Media Trust Freemasons' Grand Charity Garfield Weston Foundation Guardian Christmas Appeal Impetus Trust Jack Petchey JP Getty Foundation JP Morgan Paul Hamlyn Trust Pfizer Portishead Nautical Trust State Street Bank and Trust Company The Monument Trust Trust wishing to remain anonymous Trust wishing to remain anonymous Programme fees After Care Programmes Stand Alone Programmes Brent Brent Blackpool Lewisham Enfield Bristol Sefton Salford Lamberth Wisbech Restricted Funds Total 2011

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Total 2010

8,000 30,000 28,153 115,000 70,000 20,000 25,000 296,153 -

40,909 6,608 35,000 8,333 53,865 35,000 15,500 2,500 38,325 30,340 22,727 1,500 10,000 59,000 359,607 123,861 78,517 26,500 45,967 3,194 5,567 14,000 11,000 308,606

40,909 6,608 35,000 8,333 53,865 8,000 30,000 35,000 15,500 2,500 28,153 115,000 70,000 38,325 30,340 22,727 1,500 10,000 59,000 20,000 25,000 655,760 123,861 78,517 26,500 45,967 3,194 5,567 14,000 11,000 308,606

107,424 2,470 35,000 41,688 51,242 13,750 19,494 24,475 50,000 21,635 36,513 27,273 24,000 330,497 218,186 54,213 35,934 13,250 37,193 26,750 12,899 71,500 594,392

Counselling Fees Counselling Service progs Total incoming resources from charitable activities Investment income: Bank interest receivable Other income: Donations HMRC online filing rebate TOTAL INCOMING RESOURCES

296,153 296,153 Sustainability projects

19,852 688,065 142 2,305 2,305 690,512 Other T&T Projects

19,852 984,218 142 2,305 2,305 986,665 Total 2011

50,287 975,176 589 1,150 75 1,225 976,990 Total 2010

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 Teens and toddlers research vouchers 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 travel, hotel & subsistence Teens and toddlers course materials Teens and toddlers supervision & quality assurance Teens and toddlers national award accreditation Teens and toddlers nursery expenses Teens and toddlers director of Operations - JP Gerry Teens and toddlers counsellor supervision Teens and toddlers CS BACP Recruitment Teens and toddlers mobile phone costs Teens and toddlers postage & delivery Teens and toddlers certificate ceremony award Teens and toddlers room hire Teens and toddlers direct costs Youth panel programme costs Carried forward to page 11 1 10,959 21,279 # 9,124 11,169 468 1,768 3,859 3,800 6,146 6,656 1,036 440 893 1,132 416 79,145 122,309 150,281 91,927 121,116 3,280 11,522 14,522 31,695 62,436 9,412 100 15,292 5,804 3,300 9,884 1,700 45,087 20,904 1,716 946 1,848 2,659 360 3,051 20,926 752,075 133,268 171,560 101,051 132,285 3,748 11,522 16,290 35,553 62,436 13,212 100 21,438 12,460 3,300 10,920 2,140 45,087 20,904 1,716 946 2,741 3,791 776 3,051 20,925 831,220 150,922 242,714 133,143 141,554 4,416 26,347 20,140 36,292 52,136 32,180 20,839 14,026 8,259 11,936 1,815 22,108 1,195 4,856 1,781 2,308 4,655 933,622

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.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2011 Sustainability projects 2 RESOURCES EXPENDED (CONTINUED) Support costs allocated to activities Brought down from page 10 Other T&T Projects Total 2011

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Total 2010

79,145

752,075

831,220

933,622

Rent and rates Depreciation Fundraising, advertising and marketing Telephone Recruitment expenses Equipment hire and purchase Travel and subsistence Insurance Subscriptions, memberships and conferences Building, cleaning and security Bank charges IT software and web development Other Electricity Postage and stationery Legal and professional fees CRB and Company House Returns

5,574 440 5,352 534 96 57 435 382 81 94 240 403 197 1,546 -

45,784 3,616 43,963 4,383 787 471 3,575 3,137 669 249 768 1,991 3,310 1,617 12,696 253

51,357 4,056 49,315 4,916 883 528 4,010 3,518 750 249 862 2,232 3,713 1,814 14,244 253

51,665 10,787 37,687 5,166 10,798 2,746 4,717 3,842 5,387 986 107 1,228 2,350 3,884 5,696 723 600

Resources expended before governance costs

94,576

879,344

973,920

1,081,991

Audit Legal and professional fees Accountancy fees Trustee expenses Governance costs

6,000 6,000

6,000 6,000

5,750 1,955 2,441 10,146

TOTAL RESOURCES EXPENDED

100,576

879,344

979,920

1,092,137

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 2011 Total 2010

Charitable activities Governance costs

521,204 -

4,056 -

448,660 6,000

973,920 6,000

1,081,990 10,146

521,204

4,056

454,660

979,920

1,092,136

2011 Included within charitable activities are consultancy services and staff wages and salaries totalling: 521,203 521,203 The numbers of employees or consultants whose emoluments or payments for consultancy services for the year fell within the following bands were: 2011 60,000 to 69,999 1

2010 540,393 540,393

2010 1

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2011 3 TOTAL RESOURCES EXPENDED (continued) 2011 Other costs: Course and nursery costs Building costs Training Travel Advertising and marketing Printing, postage and stationery Legal and professional Audit Accountancy IT software and web development Insurance Telephone Equipment hire and purchase Miscellaneous

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2010

313,802 55,070 13,212 528 49,315 1,814 14,244 6,000 862 4,010 4,916 883 (9,996) 454,660

371,605 55,549 32,180 4,717 37,687 5,696 2,678 5,750 2,441 1,228 3,842 5,166 2,746 9,671 540,956

Direct charitable

11

11

11

11

DIRECTORS' AND OFFICERS' REMUNERATION AND EXPENSES The Charity reimburses travel expenses incurred by all of the directors which are wholly and exclusively in connection with fulfilling their duties as officers of the Charity. There were no travel expenses reimbursed in the year (2010: 2,332). No director received remuneration from the Charity for their services as a director. Consultancy and other payments made to employees in respect of expert services and duties are included as wages in note 2. This included negotiating grant contracts, actively promoting the Charity and handling the day to day running of the Charity's affairs. All payments were made on normal commercial terms.

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2011 5 TANGIBLE FIXED ASSETS Fixtures & Fittings

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Equipment

Total

COST At 1 March 2010 and 28 February 2011 DEPRECIATION At 1 March 2010 Charge for year At 28 February 2011 NET BOOK VALUE At 28 February 2011 At 1 March 2010 3,604 5,513 1,073 3,220 4,677 8,733 26,847 29,470 56,317

21,334 1,909 23,243

26,250 2,147 28,397

47,584 4,056 51,640

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

6 DEBTORS 2011 Trade debtors Other debtors Prepayments and accrued income 204,810 7,500 5,683 217,993 2010 188,714 7,500 90,811 287,025

7 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2011 Trade creditors Other taxation and social security Accruals Deferred income 21,580 13,873 8,229 355,571 399,253 370,179 of the deferred income brought forward at 1 March 2010 was transferred to income during 2011. 2010 98,028 15,616 9,211 370,179 493,034

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 28 FEBRUARY 2011 8 RESTRICTED & UNRESTRICTED FUNDS
B/f 1 March 2010 Bus Dev Mng Esmee Fundraiser Fund JP Getty Dop's Fund Youth Panel Counselling After Care Stand Alone Brent Intensive LA Sefton LA SP Blackpool LA SP Salford LA SP Lambeth LA SP Bristol LA SP Intensive Imp TOTAL Restricted Funds Unrestricted Funds (Inc Other Income) Released Trfd Between Funds

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C/f 28 feb 2011 0 142 0 0 0 0 0 0 0 0 0 0 3,161 0 3,303

1,032 0 0 0 0 0 0 0 0 0 0 0 0 23,961
24,993

53,865 35,000 0 52,448 19,852 125,128 89,018 61,714 5,585 70,074 49,107 49,432 7,217 72,077
690,516

0 0 70,000 0 0 115,706 43,828 21,038 1,753 10,519 10,519 10,519 1,753 10,519
296,153

(66,639) (34,858) (56,911) (58,930) (21,747) (287,355) (148,758) (76,006) (5,626) (63,958) (47,981) (35,160) (5,808) (64,183)
(973,920)

11,742 0 (13,089) 6,483 1,895 46,521 15,912 (6,746) (1,711) (16,635) (11,645) (24,791) 0 (42,374)
(34,438)

All of the restricted funds represent monies received that have been given specifically towards the advancement of the Teens and Toddlers programme. The Teens and Toddlers programme focuses on addressing the problem of the high rate of teenage pregnancy in Britain and tackling the issues that put teenagers on the path to pregnancy. Teens and Toddlers takes at risk teenagers on a 15-18 week journey of exploration built around weekly sessions with small children in a safe nursery environment. The nursery experience is developed through classroom support sessions focusing on child development, parenting skills, sexuality and relationships.

All surpluses on grants relating to projects in specific ares that have come to an end and where all conditions in respect of the grant have been met have been transferred to unrestricted funds. Grants where there are no longer any conditions for their specific use have been transferred to unrestricted funds accordingly.

9 RELATED PARTY TRANSACTIONS

The charity cooperates with the charity Psychosynthesis and Education Trust. Diana Whitmore, CEO of this charity, is a Trustee of Psychosynthesis and Education Trust. Transactions between the two charities are on normal commercial terms. There were no expenses claimed by trustees during the current year (2010: 2,332).

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

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

2011 Operating leases which expire: Within one year Within one to two years 47,500 -

2010 47,500

47,500

47,500

11 COMPANY LIMITED BY GUARANTEE

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

12 FUTURE TRADING AND THE CURRENT ECONOMIC CLIMATE

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

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED SUMMARY FINANCIAL STATEMENT YEAR ENDED 28 FEBRUARY 2011

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

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED AUDITORS' STATEMENT ON THE SUMMARY FINANCIAL STATEMENT YEAR ENDED 28 FEBRUARY 2011 Independent Auditors' statement to the Board of Directors of Children: Our Ultimate Investment (UK) Limited

Page 16

We have examined the summary financial statement of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2011 as set out on page 17. This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 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 Trustees' Report and its compliance with the relevant requirements of section 427 of the Companies Act 2006 and the regulations made thereunder.

We also read the other information contained in the summarised annual report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summary financial statement.

We conducted our audit in accordance with Bulletin 2008/3 'The auditors' statement on the summary financial statement issued by the Auditing Practices Board. Our report on the charitable company's full annual financial statements describes the basis of our audit opinion on those financial statements and on the Trustees' Report. Opinion

In our opinion the summary financial statement is consistent with the full financial statements and the Trustees' Report of Children: Our Ultimate Investment (UK) Limited for the year ended 28 February 2011 and complies with the applicable requirements of section 427 of the Companies Act 2006, and the regulations made thereunder.

Euro House 1394 High Road London N20 9YZ Date:

Christopher Jackson BSC FCA (Senior Statutory Auditor) For and on behalf of: MacIntyre Hudson LLP Chartered Accountants & Statutory Auditor

CHILDREN: OUR ULTIMATE INVESTMENT (UK) LIMITED SUMMARY FINANCIAL STATEMENT STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 28 FEBRUARY 2011 2011 INCOMING RESOURCES Grants Programme fees Counselling fees Investment income Other incoming resources TOTAL INCOMING RESOURCES 655,760 308,606 19,852 142 2,305 986,665

Page 17

2010

330,497 594,392 50,287 589 1,225 976,990

RESOURCES EXPENDED Charitable activities Governance costs

973,920 6,000

1,081,990 10,146

TOTAL RESOURCES EXPENDED

979,920

1,092,136

NET INCOMING/(OUTGOINGS) RESOURCES FOR THE YEAR

6,745

(115,146)

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

6,745 283,940 290,685

(115,146) 399,086 283,940

BALANCE SHEET AT 28 FEBRUARY 2011 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 4,677 8,733

217,993 467,267 689,937 (399,252) (399,252) 290,685 290,685

287,025 481,215 776,973 (493,034) (493,034) 283,940 283,940

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

M Shaw Director Date: