Organisation

Financial Information

The Children's Centre comprises six separate companies; a structure devised several years ago to best deliver our services, protect our assets and provide a stable platform to build for the future. We refer to all these companies collectively as The Children's Centre:

Company (Activity Company Number)

The Children's Centre (Holdings) Ltd (111720C)  Registered Charity Number 922
Parent company and holds Fixed Assets & Investments

The Children's Centre Ltd (111719C)  Registered Charity Number 921
Main operating entity

Friends of The Children's Centre Ltd (111721C)  Registered Charity Number 923
Generates and receives all fundraising & voluntary income

The Children's Centre (CPD) Ltd (111722C)  Registered Charity Number 924
Commercial & educational activities

Isle of Man Children's Centre (38847)  Registered Charity Number 43
Former operating entity, now dormant except to receive donations or legacies

Camphill Ltd (106992C)  Registered Charity Number 925
Property owning entity

Forward Care Ltd (124671C)  Registered Charity Number 1056
Dormant, formerly Isle of Man Fostering Ltd

How we are funded

moneybox

Our aim is to make our services self-supporting by drawing income from a wide range of sources:

Fundraising and voluntary income comes from many sources; corporate and private sponsors, grant making trusts, legacies as well as special events, collection boxes and regular monthly giving.

Commercial and contracted income is generated from activities undertaken to make a profit: Nurseries, After School and Holiday Centres and services delivered under contract on behalf of the Department of Health and Social Care.

Social Enterprise – these activities are in line with our mission and purpose, but which we deliver for social or community benefit rather than financial. These are budgeted to cover their own costs and break-even, such as Laxey Glen.

The charity is working towards a structure whereby the profits or surpluses from commercial activities cover a substantial proportion of the central and administration costs of the whole organisation. By aiming to fund these essential costs, we can ensure that most of the fundraising and voluntary income is spent on charitable projects. Every year we spend in the region of £1m on charitable projects, which enable us to meet needs not currently recognised by statutory bodies or other third sector organisations.

How do we put this money to work?

So, what do we spend this money on? Our largest investment is in our team – the people who deliver all our services. It is not only their salary costs, but also the other important benefits and training that we pride ourselves in offering to ensure that we attract and retain the very best people who can deliver the very highest quality services. These costs account for over two thirds of our total expenditure. We try to keep administration costs to an absolute minimum, and (excluding staff costs) these costs were only 5% of our total expenditure. Looking at just our fundraising team, for every £1 that we spend, we raise £3.38 in income.

Every charitable project is budgeted for maximum impact and minimum cost. Other than the staffing cost for the team delivering the project, we keep the rest of the costs to a minimum but balancing within that, the need for safety and quality. We are constantly looking at ways in which we can become more efficient with our time and resources.

A large proportion of the fundraising income received is restricted to a particular project or service – such as the Community Farm or the Saturday Contact Centre. This enables us to plan and forecast our activities, and give certainty to our service users and staff. However, we still rely on the general fundraising and voluntary income that is generously donated to us and directed towards the projects with a funding shortfall.

Audit

The charity has a Finance sub-committee made up of two Trustees and the Chief Executive and the Chief Financial Officer. Their responsibility is to oversee the finance function and review performance, budgets and procedures. They meet the auditors after the annual statutory audit is completed, to receive their report and feedback before it is considered by the full Board of Trustees.

Each of the companies within The Children's Centre is subjected to an annual audit undertaken by independent auditors, appointed by, and reporting to, the Trustees. The auditor's report is attached to the companies' financial statements, which are filed at the general registry. We are proud to maintain an "unqualified" status. This means that the auditors are happy that the financial statements give a true and fair view of the financial position of the company, its financial performance, and are in accordance with the applicable standards, regulations and statutory requirements. We believe that this provides assurance for our supporters that funds received are accounted for correctly and that there are adequate controls in place to both receive and spend those funds.

How can you help?

There are many ways you can support our work.

  • £3,000 per day to run our charitable programmes
  • £7 benefit for every £1 spent on Thriving families programme
  • 40% of local children and young people engaged in our services
  • 16 groups of all ages hosted at the Farm each week