The Children's Centre comprises five 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 (Company Number)
The Children's Centre (Holdings) Ltd (111720C) Registered Charity Number 922
The Children's Centre Ltd (111719C) Registered Charity Number 921
Friends of The Children's Centre Ltd (111721C) Registered Charity Number 923
Camphill Ltd (106992C) Registered Charity Number 925
Isle of Man Children's Centre (38847) Registered Charity Number 43 (Former operating entity)
How we are funded
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.
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 our Manx Chilli Fellas project.
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.
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 proportion of the fundraising income received is restricted to particular projects or servic. 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.
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 charities and companies 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 controls in place to both receive and spend funds.