Storytime Foundation Annual Report 2019
Annual Report For year end 30 June 2019
1
Northland
Current Target
1352 600
Waikato
Current Target
732 1200
Taranaki
Current Target
Manawatu and Whanganui
Current Target
410 250
124 675
Wellington and Horowhenua
Current Target
313 1000
West Coast and Canterbury
Current Target
410 1000
Southland and Otago
Current Target
Trust Deed signed, Administrator contracted, first newsletter produced
Creation of Books for Babes initiative
500 families delivered Books for Babes
First evaluation of Books for Babes
1997
1998
1999
15 450
2000
First books delivered – funded by Rotary International
2001
2002
2003
Logo designed and
540 books delivered
2004
$31,000 raised
2005
2006
2007
Number of books per family increased to five and 3,000 books delivered
Auckland
Current Target
2404 5450
Annual Report
Bay of Plenty and Lakes
Current Target
2092 1050
For year end 30 June 2019
Tairawhiti
Current Target
82 250
Contents
Hawkes Bay and Wairarapa
Current Target
135 550
Tasman, Nelson and Marlborough
Current Target
103 180
Chairmans Report
4
Chief Executive Report
5
Our work this year
6
The Invisible Victims
8
Statement of Service Performance
10
Special Purpose Financial Report
13
Appendix: Financials
12
Appendix: Auditor’s Report
21
Storytime Book Distribution 2018-19 NUMBER OF FAMILIES ENROLLED
2008
2009
Tindall Foundation funds a CEO position
Books for Babies expanded to Bay of Plenty, Waikato and Northland
Expansion to East Coast
2010
2012
2014
2011
CEO appointed and 50,000th book delivered
2013
Second evaluation undertaken and expansion to Canterbury
2015
Expansion to Hawkes Bay and First 1000 Days pilots commence
2016
17,448 books delivered – expansion to Porirua
2017
Expansion to Southland
2018
Expansion to Taranaki and Nelson and Prisons programme commences
2019
Storytime Foundation Annual Report 2019
Chairman’s Report On behalf of the Storytime Foundation Board of Trustees it is my pleasure to present this Annual Report. The past year of operations has seen 6308 new families enroll in our Books for Babies programme. By 30 June 2019 we were delivering nationally to families from Kaitaia to Bluff. Our key national partner in the Books for Babies programme is Plunket. Over the course of the year we have also partnered with several other organisations including tamariki ora providers, libraries, DHBs, Family Start, Early Start and others, and the Board expresses its thanks to the management of all these organisation for their participation and support. One of the outcomes we seek to achieve is to connect families with their local library and we acknowledge the participation of libraries nationally in our programmes this year. Families indicate as they enroll that they would like their local library to contact them and libraries follow up on this request. Libraries not only provide an opportunity for families to access additional books but are also a great source of information and family activities.
Ian Leader Chairman
The five pilot programmes known as Books for Babies: The First 1000 Days, that were established in 2017, have continued to develop this year, and through the generosity of Bay Brighter Futures, the Tindall Foundation and Cognition Education Trust we are rolling out this initiative in the Bay of Plenty, Northland, Manukau, Wellington and Christchurch. This initiative builds on the success of Books for Babies with the participation of families from the third trimester of pregnancy until the child is three years of age. First 1000 Days provides additional opportunity to help parents to continue to read, talk and play with their children from the earliest age. We commenced a new service in 2018 known as Taonga mō ngā Tamariki (Treasures for our Children) which continued this year with the support of Department of Corrections and the Ministry of Education. This initiative assists inmates at Ngawha Men’s, Wiri Women’s and Mount Eden prisons as they prepare for release, to strengthen the bond with their children and is designed to reduce recidivism. The initiative has been independently evaluated by Point Research, an evaluation that clearly shows we are making a big difference for the inmates and for their children. The Board thanks the Chief Executive Tony Culliney and his team for their efforts through the year and all of those that volunteered their time from Well Child frontline staff and Family Start support workers to the Advisory Board and Research Group. We finish the year with great plans for the future and the knowledge that Books for Babies has reached over 60,000 families since 2003 – that represents more than 300,000 books and over 100,000 individual family members! My sincere thanks to all our supporters and partners for making 2018/19 such a successful year.
4
Storytime Foundation Annual Report 2019
Chief Executive’s Report Whew! It has been quite a year! Not only have we increased the number of new enrolments in Books for Babies to over 6000 (8048 total participants) but we have also had over 1500 families participate in Books for Babies: First 1000 Days. We have commenced a roll out of this initiative in Northland, Bay of Plenty, Manukau, Wellington and Christchurch and successfully completed delivery of our programme for incarcerated parents, Taonga mō ngā Tamariki, into Ngawha, Wiri and Mount Eden prisons. While Books for Babies remains our “flagship” programme we are delighted to be able to engage with a wider community of families that experience disadvantage through our new initiatives, and to work with them to help strengthen attachment with their children, to develop a love of reading and build early language skills. We have engaged Point Research to undertake ongoing evaluation of our programmes and the results to date are very positive across all services. Our funders and donors have been very supportive again this year. With income through their generosity and contract fees from Department of Corrections and Ministry of Education, we have achieved an income of over $500,000 for the first time since the establishment of the Trust in 2003. Particular thanks go to Tindall Foundation, Todd Foundation, Cognition Education Trust, Foundation North and Bay Brighter Futures. Among the highlights of the year was the launch of Books for Babies in Southland which completes the national rollout we commenced in 2012. We now have the task of increasing the number of families that participate in each region. Another highlight was the publication of our own book – a cloth book with panels depicting pepeha – a story that connects us with our ancestors and our home. We also commissioned a video which succinctly depicts the work of Storytime Foundation – what we do, why and what we achieve. We hope that this video will be completed by the end of 2019. Much of the organisation’s success this year, as in past years, is due to the tireless work of the staff, contractors and volunteers and I thank them and acknowledge their dedication to the programmes. Particular thanks go to Liz Patterson and Linda Biggs for their significant efforts this year. We have enjoyed working with our partners: Libraries, Plunket, tamariki ora providers, midwives, health service providers, Family Start and District Health Boards, and have again joined with new organisations and networks to allow delivery of our services to the highest need families as we have expanded into new areas. We are grateful to the members of our expert Advisory Board for their advice and support and acknowledge the support provided by Dr Johann Moreau at Lakes DHB, Alex Woodley of Point Research and Plunket Head Office staff, management and Clinical Leaders. I look forward to working with the Storytime Foundation Board, our partners, volunteers, funders and staff in the coming year.
5
Tony Culliney Chief Executive
Storytime Foundation Annual Report 2019
Our Work Each and every day, babies are born into New Zealand families where parents are ill-equipped, supported or resourced to adequately provide their children with the attention they need and deserve. Sadly, many of these babies go on to do badly at play, at school and at work. Accordingly, Storytime Foundation is focused on providing opportunities for these families to bond with their children and to engage with their communities, to develop the confidence and parenting skills so important in a child’s early years.
This year Storytime Foundation continued delivery of an extension of Books for Babies to cover the first 1000 days of a child’s life in five centres, and expanded this programme in the Bay of Plenty and Northland. Our goal is that every parent knows the importance of reading and storytelling with their children, and that New Zealand children grow up healthy, nurtured in homes rich in language and love. We also delivered a programme into some of New Zealand’s prisons designed to help incarcerated parents to recognise the importance of reading and storytelling with their children and to improve the quality of children’s visiting time.
Working collaboratively with well child/tamariki ora providers, libraries, DHBs, Family Start providers, midwives, Government agencies and others we create a home environment in which children thrive, achieve and belong. Using books and storytelling as a medium, our programmes foster stronger families and a better society, for today and tomorrow.
We engaged Point Research to evaluate our services. Early results from their work relating to Books for Babies and First 1000 Days programmes have shown that we reach a high percentage of Māori (58%) and Pasifika children (25%), and that we enrol particularly disadvantaged families. One in five (18%) of parents said they were seldom or never read to as a pre-schooler, 29% could not remember having been read to as a pre-schooler; one quarter of families (27%) had no children’s books in their homes at enrolment and that there was a marked increase in books in homes following participation. As a result of Storytime Foundation’s programme parents say they:
Our Books for Babies and the extended “First 1000 Days” programmes provide books, resources, information and support to families experiencing adverse circumstances with the key aim of improving parent-to-child attachment. Over the past year we have delivered a programme into NZ prisons to improve attachment between incarcerated parents and their children. This programme, known as Taonga mō ngā Tamariki (Treasures for our Children) includes Early Reading Together® and Reading Together® and has been supported by Dept of Corrections and Ministry of Education.
• • • •
A strong bond between a caregiver and child during the first 1000 days significantly improves outcomes in life for the child and family unit (eg.,Bowlby, 1958; Growing Up in NZ 2014). Every baby is born ready to learn, however brain development and a baby’s capacity for learning and loving is heavily dependent on early life experiences. We know from national and international evidence that close parental interaction in the early stages of a baby’s development stimulates the frontal lobe and increases early learning opportunities.
In our work with incarcerated parents we have seen dramatic improvements in understanding about child development and in the quality of child visits. Participating parents say: • • • •
"I want to stay out of jail and give my time to my children" "Let her choose an activity for us to do each week" "Read and talk more" "You don’t always have to read the book word for word, you can make up your own story" • "I’ve never read a book in my life and been able to remember it. I’m now on my second book in three weeks."
Families participating in our programmes benefit from learning how to read to their child and the benefits of engaging with babies and young children through talking, reading, singing and playing. They learn more about what is happening to their child’s development, and especially frontal lobe activity, critical in the early stages of a child’s development. Some families do not recognise the importance of these activities although we know that babies respond to their mother’s voice even before birth.
1997
1998
1999
2000
2001
Read more often to their children (69%) Understand more about the benefits of reading (77%) Visit the library more often (44%) We also discovered that there was an increase in the percentage of families singing or telling stories to their toddler daily (25% 41%) as a result of participation.
2002
6
2003
2004
2005
2006
2007
2008
Storytime Foundation Annual Report 2019
Key Facts In this time… The Storytime Foundation has been supporting New Zealand families since 1997. Originally established in Auckland, we now support children and families in:
56,000 families have benefited
• • • • • • • •
delivered to ‘Books for Babies’ children and their families
Northland Auckland Waikato Bay of Plenty Tairawhiti Taranaki Hawkes Bay Manawatu/ Whanganui
from our flagship activity ‘Books for Babies’
213,000 books have been
• Wellington / Wairarapa • Nelson/ Marlborough • Tasman • Canterbury • West Coast • Otago • Southland
350
Over Well Child professionals have been trained to deliver Books for Babies
$2.5million
Over has been raised to benefit some of New Zealand’s most needy children and families
213,412
Storytime Foundation equips parents to take time to read with, talk with and tell stories to their child.
Total number of Storytime Books delivered all-time to 30 June 2019 225,000
Income Targeted Income for TMNT Corrections programmes 200,000
BBF - Targeted Income for First 1000 Days NET Income
175,000
Expenditure Books – Storage/Delivery/Admin
150,000
Pilot Programmes Books – Purchase cost/Insurance Overheads
125,000
Income & Expenditure
100,000
01 July 2018 to 30 June 2019
27,977
75,000
Storytime Books delivered in the financial year from 1 July 2018 to 30 June 2019
50,000
25,000
0 2009
2010
2011
2012
2013
2014
2015
7
2016
2017
2018
2019
Storytime Foundation Annual Report 2019
The Invisible Victims Last year we delivered our programme Taonga mō ngā Tamariki into three New Zealand prisons.
Children’s Rights
Taonga mō ngā Tamariki includes the Early Reading Together® and Reading Together® programmes. These programmes are designed to enhance the support that parents/whānau provide for their children's language and literacy development. Early Reading Together® and Reading Together® are very effective as they are specifically designed to support children and parents from diverse cultural, socio-economic and language backgrounds.
The United Nations Convention on the Rights of the Child has been signed by 194 countries. The only countries that haven’t ratified the treaty are Somalia, South Sudan, and the United States. The rights of children of incarcerated parents are set out in article 9 of the Convention on the Rights of the Child. In Article 9 it is specifically stated that the “State shall respect the right of the child who is separated from one or both parents to maintain personal relations and direct contact with both parents on a regular basis, except if it is contrary to the child's best interests”.
We deliver Taonga mō ngā Tamariki to the parent in prison, but the desired outcome is an improved relationship between parent and child. So, what about the child? What about the children of incarcerated parents?
In article 10 of the Convention it states that the child shall … “be provided the opportunity to be heard in any judicial and administrative proceedings affecting the child, either directly, or through a representative or an appropriate body, in a manner consistent with the procedural rules of national law.
Our CEO had the privilege of attending an international conference in the UK recently, hosted by the International Coalition for Children of Incarcerated Parents (INCCIP) that specifically asked that question. His participation was made possible due to a grant from the Minister’s Discretionary Fund. Part of his report on the conference follows.
The Convention states that “the best interests of the child must be "a primary consideration" in all actions and decisions concerning a child and must be used to resolve conflicts between different rights”.
The child is innocent and yet punished. Children of incarcerated parents are an often-forgotten victim of the justice system. This is the case not only in New Zealand but also, to a greater or lesser extent, internationally. We don’t know exactly how many children are affected by the incarceration of a parent in NZ but a best guess puts it at around 20,000 though up to 40,000 children may be affected by having a parent in the justice system.
"Family is affected and involved in the prison sentence. It affects everybody close." – UK Prisoner
Often arrests are made in the early hours of the morning. The police, dogs and loud voices together are designed to surprise those in the home. Children wake to what must be a very frightening situation for them. They may be in court at sentencing, may have experienced a violent arrest and they may be traumatised by these experiences. The separation from their parent may be highly traumatic including the psychological effects of separation, risk of relationship breakdown, risk of being taken into care, financial difficulties, children being more vulnerable to neglect and abuse, bullying, stigma and difficulties in visiting. These children can sometimes be encouraged by family to keep their experience a secret and this causes added difficulties, for example when explaining why mum or dad is never around.
The New Zealand Position How much attention do we in New Zealand pay to the needs and or rights of the child? Judges in sentencing do not always take into consideration the needs of the child. Sometimes this is not possible. In a case of less-serious offending in NZ a parent may receive a non-custodial sentence where this will advantage the child, and this is certainly the case in some other jurisdictions (such as the Republic of Ireland where it often follows an appeal). Personal, family/whanau relationships may be taken into account when sentencing. 8
Storytime Foundation Annual Report 2019
"Loss of outside relationships is considered the most painful aspect of confinement for prisoners"
Often the expense of visiting an inmate is beyond the resources of the family and the children miss out. Once sentenced, Corrections decide where the sentence will be carried out and they can take into consideration proximity to family and often do so. However, many areas within New Zealand are not close to a prison and the availability of beds can also mean the parent is imprisoned far from the child.
– Flanagan 1980; Richards 1978 and reducing recidivism we encourage the Justice system in New Zealand to place more emphasis on child-centric visits – allow the child to have positive time with mum or dad at visiting time and you will see (as is the experience overseas) the positive results.
We know that many children do visit their parent in prison, but how valuable is the child visit? International studies demonstrate a strong link between prisoners maintaining family contact during incarceration and reduced recidivism. In the UK, this evidence has led to changes to prison policy based on the principle that fostering family links is the best way to ensure crime-free resettlement post-prison.
[In the UK, the Ministry of Justice’s research shows a clear, substantial positive effect on recidivism when family ties are maintained. This research (May, Sharma and Stewart, 2008) concludes that for a prisoner who receives visits from a family member, the odds of reoffending are 39% lower than for those who do not.
As we deliver Taonga mō ngā Tamariki we have come to recognise the value, to child and incarcerated parent, of the child visiting the parent in prison, particularly where the visit is interactive and child focussed, and when parents can share learning activities with their children. At Ngawha prison (NRCF) we see child-centric visiting encouraged and hear from the inmates the value they place on this. Children and parent are not confined to a particular seat bolted to the floor but may engage in reading and other activities (even making pikelets!) in an area more conducive to play than separation.
According to the UK Ministry of Justice data (2012) 40% of prisoners believed that support from their family, and 36% that seeing their children, would help them stop reoffending (p. iii). The 2014 Joint Thematic Review by Her Majesty’s Inspectorates of Prisons and Probation and Ofsted in the UK concluded that “an offender’s family are the most effective resettlement agency” (p. 5). It called for a national strategy to be developed that would “better help offenders maintain and repair relationships with their families and, where appropriate, involve the family and friends of offenders in the rehabilitation process” (p.15).]
Given the positive outcomes from the relationship between positive family visiting, and in particular positive child visiting, 9
Storytime Foundation Annual Report 2019
Statement of Service Performance The purpose of this Statement of Service Performance is to report on the activities of Storytime Foundation Trust Board over the F2019 year.
Vision
Legal Name Storytime Foundation Trust Board
New Zealand children thriving in supportive home environments.
Type of Entity Charitable Trust, Registered Charity Registration No. CC22735
Mission
Certificate of Incorporation No. 1487114
The Storytime Foundation Trust is committed, in partnership with Plunket, Tamariki Ora providers, Family Start, libraries, Corrections facilities and staff and others to building the ongoing wellbeing of children and their families by increasing bonding through reading, talking and more positive engagement in the home .
Entity Structure • Under our Trust Deed the number of Trustees shall be no less than three nor more than six. We currently have five trustees including a Chairman and Treasurer • Our operations are managed by a CEO with part time staff and consultants • Volunteers support us with our activities throughout the year • We operate collaboratively with a number of agencies
Outputs Storytime Foundation delivers books, information and a range of resources to high need families with children from birth to 3 years of age to improve early bonding and attachment through our programmes.
Main Sources of Cash and Resources Storytime Foundation receives income from a variety of philanthropic Trusts, Foundations and donors to purchase books and to cover operational expenses, and a small portion of income from Government contracts related to prison inmates and released prisoners in the community
Research indicates that a strong bond between a caregiver and child during the first 1000 days significantly improves outcomes in life for the child and the wider family unit. It also has positive effects on literacy. We therefore: • deliver books and information into New Zealand’s most deprived homes and families/whanau to enhance early attachment, build cohesive families and improve social outcomes • teach parents to take time to read to their child - this remains a key determinant of early bonding and attachment
Main Methods Used to Raise Funds Funds are raised through application to philanthropic Trusts and Foundations and by negotiation with Government Departments Reliance on Volunteers and Donated Goods/Services We work collaboratively with Plunket, tamariki ora agencies, Family Start providers, DHBs, Corrections services, Ministry of Education and others. These agencies assist with the delivery of our services
We are the only agency delivering Books for Babies directly into the home through well child providers. In F2019 we achieved the following: 1. Enrolled 6318 new families in the Books for Babies programme 2. Enrolled 1091 new families in the First 1000 Days pilots 3. Delivered 27,977 books 4. Delivered hundreds of resources such as brochures, fridge magnets, table mats and useful information to support parents as they work closely with their child. 5. Commenced delivery of a programme into Ngawha and Wiri prisons to help improve the bond between the incarcerated parent and the child, and to reduce recidivism. 10
Storytime Foundation Annual Report 2019
Outcomes
Additional Information: Feedback
We provided opportunities for high need families with newborns and young children- particularly Maori and Pacific - to engage with their communities, develop confidence and parenting skills critical in the early years, and provide a better future for their children thereby reducing disparities in social and developmental outcomes. Our programmes target the highest need families to improve bonding between parent/caregiver and child, to encourage the families/whanau to understand and better value reading and talking to their children, and to become more aware of the benefits of providing a nurturing environment.
We receive feedback from participating parents regarding the benefits to them of participation, and we have contracted an independent research company, Point Research, to undertake a formal evaluation of our programmes. To date the feedback has been very positive, parents feel that the programme has benefited them and their child, they report that they feel more confident as parents in reading and talking with their child and they are more likely to visit their local library than before participating. Through the Point Research evaluation work this year we have found that:
We support families to understand baby and toddler developmental needs using books as the catalyst, to achieve bonding, child development, early language and family literacy outcomes.
• One in five (18%) of parents said they were seldom or never read to as a pre-schooler • A further 29% or could not remember having been read to as a pre-schooler • Around one-quarter (28%) said they were read to daily or more often • There has been a marked increase in the number of children’s books in the homes of those participating in the initiative • While a quarter (27%) of homes had no children’s books prior to the programme, this was no longer the case. There was a significant increase in the number of books in homes which appears to be more than the number of books provided • 69% reported that they read more often to their children • 79 % said that they understand more about the benefits of reading • 44% visit the library more often
We support parents prior to leaving prison to better understand their child’s development and provide resources for parent and child to share.
11
Storytime Foundation Annual Report 2019
Storytime Foundation Trust Board
Special Purpose Financial Report For the Year ended 30 June 2019
12
Storytime Foundation Trust Board Statement of Financial Performance For the Year ended 30 June 2019
Storytime Foundation Annual Report 2019
Note REVENUE Grants Received Donations Revenue from Provision of Services Investment Income Total Revenue
4 5 6
EXPENSES Costs Relating to Provision of Goods Employee Related Costs Administrative Costs Depreciation & Impairment Total Expenses
7 8 9 12
NET DEFICIT FOR THE YEAR
Note: Read in conjunction with Audit Report and Notes to the Financial Statements.
2019 $ 386,022 21,413 91,106 1,863 500,404
354,352 7,257 29,574 2,018 393,201
172,519 185,990 167,039 493 526,041
169,424 141,057 171,156 1,820 483,457
(25,637)
(90,256)
NOTE: Read in conjunction with the Audit Report and Notes to the Financial Statements.
13
2018 $
Storytime Foundation Annual Report 2019
Storytime Foundation Trust Board Statement of Financial Position As at 30 June 2019 Note CURRENT ASSETS Bank Accounts and Cash GST Refund Due Debtors & Prepayments Investments Inventories Total Current Assets
2019 $
2018 $
153,479 128 6,338 57,196 99,525 316,666
151,165 9,479 13,448 55,381 113,002 342,475
1,465 1,465
1,958 1,958
TOTAL ASSETS
318,131
344,433
CURRENT LIABILITIES Creditors and Accrued Expenses Employee Costs Payable Unused Donations and Grants with Conditions Total Current Liabilities
31,855 22,938 45,800 100,593
24,115 24,255 52,888 101,258
TOTAL LIABILITIES
100,593
101,258
NET ASSETS
217,538
243,175
217,538 217,538
243,175 243,175
11 10
NON-CURRENT ASSETS Property Plant & Equipment Total Non-Current Assets
12
4
Represented by: Accumulated Funds Accumulated Surpluses ACCUMULATED FUNDS
14
The accompanying notes form part of these Financial Statements and should be read in conjunction with the reports contained herein. On Behalf of the Trust: _______________________________ Chairman
_______________________________ Trustee
Date:
Note: Read in conjunction with Audit Report and Notes to the Financial Statements.
NOTE: Read in conjunction with the Audit Report and Notes to the Financial Statements.
14
Storytime Foundation Trust Board Statement of Cash Flows For the Year ended 30 June 2019
Storytime Foundation Annual Report 2019
Note Cash Flows from Operating Activities Cash was provided from: Donations, Fundraising and Other Similar Receipts Receipts from Providing Services Interest, Dividends & Other Investment Receipts Cash was applied to: Payments to Suppliers, Employees & Others
2019 $
2018 $
416,508 91,440 1,863
363,702 29,574 2,018
(505,682)
(472,896)
Net Cash Flows from Operating Activities
4,129
Cash Flows from Investing Activities Cash was applied to: Purchase of Investments
(1,815)
(77,602)
(1,849)
Net Cash Flows from Investing Activities
(1,815)
(1,849)
Net Increase/(Decrease) in Cash Held
2,314
(79,451)
Bank Accounts and Cash at the start of the year
151,165
230,616
Bank Accounts and Cash at the end of the year
153,479
151,165
Note: Read in conjunction with Audit Report and Notes to the Financial Statements.
NOTE: Read in conjunction with the Audit Report and Notes to the Financial Statements.
15
Storytime Foundation Annual Report 2019
Storytime Foundation Trust Board Notes to the Financial Statements For the Year ended 30 June 2019
1.
STATEMENT OF ACCOUNTING POLICIES Basis of Preparation Storytime Foundation Trust Board (the Trust) has elected to apply PBE SFR-A (NFP) Public Benefit Entity Simple Format Reporting - Accrual (Not-For-Profit) on the basis that its total annual expenditure is less than two million dollars and it has no public accountability. All transactions are reported using the accrual basis of accounting. Going Concern Basis In preparing these financial statements, consideration was given to the on-going funding of the Trust and possible outcomes of negotiations for additional grants and donations. These financial statements have been prepared on a going concern basis, the validity of which depends upon future funding being available. It is the considered view of the Board of Trustees that on-going funding will continue to satisfy the operational requirements of the Trust. If the Trust is unable to continue its operational existence in the foreseeable future, adjustments may have to be made to reflect the fact that assets and liabilities may need to be realised at amounts other than those at which they are currently recorded in the Statement of Financial Position and the Trust may have to provide for further liabilities that may arise. Specific Accounting Policies (a)
Revenue Recognition Donations and grants are recognised as non-exchange revenue. Revenue derived from service contracts is recognised as exchange revenue. Revenue from donations, grants, and service contracts without "use or return" conditions attached is recognised as revenue when the cash or significant assets are received. Where "use or return" conditions are attached, revenue is deferred until the conditions are met.
(b)
Property, Plant & Equipment All property, plant and equipment is initially recorded at cost with depreciation being deducted on all tangible fixed assets other than freehold land, in accordance with depreciation rates issued by the Inland Revenue Department. These rates range from 30.00% to 67.00% and are applied on a straight line basis.
(c)
Intangible Assets All identifiable intangible assets are initially recorded at cost with amortisation being deducted in accordance with depreciation rates issued by the Inland Revenue Department. The rate of 10.00% has been applied for all identifiable intangible assets on a straight line basis.
(d)
Inventories Inventory consists of both purchased and donated books. These books are given away in the ordinary course of the Trust's business. The value of inventory reflected in the financial statements is the donated value or cost of the books.
Note: Read Read in conjunction with thewith Audit NOTE: in conjunction theReport Audit Report
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Storytime Foundation Trust Board Notes to the Financial Statements For the Year ended 30 June 2019
2.
Storytime Foundation Annual Report 2019
(e)
Leased Assets Operating leases are those where all the risks and benefits incidental to ownership are retained by the lessor. Operating lease payments are expensed in the periods that the amounts are payable.
(f)
Receivables Receivables are stated at their estimated realisable value. Bad debts are written off in the year in which they are identified.
(g)
Changes in Accounting Policies All policies have been applied on bases consistent with those used in the previous year.
AUDIT These financial statements have been subject to an audit, please refer to the audit report.
3.
CONTINGENT LIABILITIES At balance date there are no known contingent liabilities (2018: Nil). Storytime Foundation Trust Board has not granted any securities in respect of liabilities payable by any other party whatsoever.
Note: Read Read in conjunction with thewith Audit NOTE: in conjunction theReport Audit Report
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Storytime Foundation Annual Report 2019
Storytime Foundation Trust Board Notes to the Financial Statements For the Year ended 30 June 2019
4.
GRANTS RECEIVED 2019 $
2018 $
The Trust gratefully acknowledges the support of the following, along with all other donors who have aided the Trust in achieving its charitable goals.
5.
Bay of Plenty Community Trust BBF - Bay Trust BBF - Lottery Grant Board - Community BBF - Rotorua Energy Trust BBF - TECT Cognition Education Trust Community Organisation Grants Scheme - Far North Eastern & Central & Community Trust Foundation North Four Winds Foundation J R McKenzie Ministry of Education Mt Wellington Foundation NZ Lottery Grants Board One Foundation (previously First Sovereign Trust) Oxford Sports Trust RATA Foundation Rotorua Energy Charitable Trust The Southern Trust The Tindall Foundation The Todd Foundation The Trusts Community Foundation Limited Trust Waikato TSB Trust WEL Energy Trust Less: Current Year Grants Received in Advance Add: Prior Year Grants Received in Advance
5,000 10,000 19,167 15,000 9,167 30,435 50,000 7,800 5,000 4,500 14,365 4,000 13,000 13,500 80,000 75,000 10,000 5,000 8,000 (45,800) 52,888
10,000 10,000 28,333 15,000 15,000 2,500 6,000 50,000 6,500 70,000 6,200 20,000 14,105 6,000 10,000 10,000 75,000 10,000 5,000 4,000 (52,888) 33,602
Total Grants Income
386,022
354,352
2019 $ 53,945 37,161
2018 $ 29,574 -
91,106
29,574
REVENUE FROM PROVISION OF SERVICES Department of Corrections Contract Revenue Ministry of Education Contract Revenue Total Revenue from Provision of Services
Note: Read Read in conjunction with thewith Audit NOTE: in conjunction theReport Audit Report
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Storytime Foundation Trust Board Notes to the Financial Statements For the Year ended 30 June 2019
6.
Storytime Foundation Annual Report 2019
INVESTMENT INCOME
2019 $
Interest Received on Bank Deposits Interest Received on Term Deposits
49 1,814
Total Investment Income 7.
COSTS RELATING TO PROVISION OF GOODS Opening Stock Distribution & Inventory Contract Purchases Closing Stock Total Costs relating to Book Distribution
8.
EMPLOYEE RELATED COSTS
9.
2019 $ 113,002 31,388 127,654 (99,525)
2018 $ 139,666 22,856 119,904 (113,002)
172,519
169,424
185,990
ADMINISTRATIVE COSTS The following expenses are included within administrative costs: Administration Contract & Support Audit Fees Consultancy - First 1,000 Days Pilot Travel Accounting Services Donated
10.
2,018
244 1,070 74,007 110,669
Total Employee Related Costs
INVENTORIES Stock on Hand Total Inventories
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169 1,849
1,863
2019 $
Accident Compensation Levies Staff Training Subcontractors Wages & Salaries
2018 $
2019 $
2018 $
329 749 30,957 109,022 141,057
2018 $
37,787 4,224 34,289 37,809 5,500
41,800 3,645 62,981 15,535 5,000
2019 $ 99,525
2018 $ 113,002
99,525
113,002
Storytime Foundation Annual Report 2019
Storytime Foundation Trust Board Notes to the Financial Statements For the Year ended 30 June 2019
11.
INVESTMENTS Term Deposits maturing within twelve months Total Investments
2019 $ 57,196
2018 $ 55,381
57,196
55,381
At balance date, the deposit was invested for a term of 183 days at an interest rate of 3.05% (2018: 3.25%). 12.
PROPERTY PLANT & EQUIPMENT
2019 $
Computer Equipment & Intangibles At Cost Add: Less Accumulated Depreciation Current Year Depreciation Total Depreciation Closing Book Value Closing Book Value of Property, Plant & Equipment 13.
2018 $
5,418
5,418
3,460 493 3,953 1,465
1,640 1,820 3,460 1,958
1,465
1,958
TAXATION The Trust is exempt from taxation on interest and dividends and generally exempt from income tax under Section CW 42 of the Income Tax Act 2007.
14.
ACCUMULATED FUNDS
2019 $
Accumulated Surpluses Opening Balance Current Year Movement Balance at End of Year Total Accumulated Funds 15.
2018 $
243,175 (25,637) 217,538
333,432 (90,256) 243,175
217,538
243,175
RELATED PARTIES Storytime Foundation Trust Board has a related party relationship with one of its Trustees. Thomas Bendall is a Trustee of Storytime Foundation and also a Director of Bendall and Cant Limited that has provided accounting services of $5,500 (2018: $5,000) to Storytime Foundation for no charge. This has been accounted for through donations in kind as part of the Donations balance. Bendall and Cant Limited has also made a donation of $1,000 during the year (2018: Nil). Storytime Foundation also has a related party relationship with one of its Key Management Personnel. Tony Culliney is the Trust's Chief Executive Officer and has engaged his son's legal practice, iCLAW Culliney Partners to provide some legal advice. Administration costs of $257 (2018: Nil) have been recognised in the Statement of Financial Performance.
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Storytime Foundation Annual Report 2019
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Storytime Foundation Annual Report 2019
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Storytime Foundation Annual Report 2019
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Storytime Foundation Annual Report 2019
Storytime Foundation PO Box 18 340, Glen Innes, Auckland 1743 Contact: admin@storytime.org.nz | 021 252 8720 www.storytime.org.nz