## **Registered Number: 3181695 (England & Wales)**
## _**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**_
_**Financial Statements**_
_**for the year ended 31 March 2021**_
## **RAVENSBOURNE PROJECT**
## **(company Limited by guarantee)**
## **Index to the Financial Statements**
**for the year ended 31 March 2021**
||**Page**|
|---|---|
|Legal and Administrative Details|1|
|Trustees' Report|2|
|Auditors' Report|9|
|Statement of Financial Activities|12|
|Balance Sheet|13|
|Statement of Cash Flows|14|
|Notes to the Financial Statements|15|
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Legal and Administrative Details**
Ravensbourne Project Limited is a registered charity, number 1056481, and company limited by guarantee, number 3181695. The liability of each director is limited to £1 in the event of the company being wound up.
|Trustees/Directors|Henrii Webb (Chair)|
|---|---|
||Jacqueline Paschoud (Vice Chair)|
||Robert Jones (Operational Director)|
||Joseph Burchell (Fundraising)|
||Cassim Bakharia (Education)|
|Secretary:|Robert Jones|
|Operational Team:||
|Operational Director|Robert Jones|
|Registered Manager|Sharon Edwards|
|Acting Lead Children’s Practitioner|Siobhann Brady|
|Acting Lead Children’s Practitioner|Sarah Denny|
|Registered Office|4 Crantock Road|
||Catford|
||London|
||SE6 2QT|
|Principal Bank|LloydsPlc.|
||9 Market Square|
||Bromley|
||Kent|
||BR1 1ND|
|Auditors|Goldwins Limited|
||75 Maygrove Road|
||West Hampstead|
||London NW6 2EG|
|Registered Charity Number|1056481|
|Company Number|3181695|
|Ofsted Registered Number|1257289|
|Ofsted Rating|Good|
Page 1
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Report of the Executive Committee for the Year Ended 31 March 2021**
## **Chair’s Report:**
_I would like to start this year’s report with a massive thank you, to the staff team for their hard work and dedication during this very difficult year._
_Our mission during the year, was to ensure that we remained child/young person centred during these challenging times. Our aim of supporting as many families as possible living with complex needs has remained our key objective during the pandemic. We have achieved this by working closely with the local authority to ensure that we have been providing the appropriate support in times of need, in person or by telephone. The year has given us many obstacles and barriers to face with changing regulations and guidance. By working closely with the families, we support I am delighted to announce that we have been able to continue to provide services throughout the year. Again, I would like to thank both the families and the staff for their continuing support and understanding during this time._
_As we move into another year myself and my fellow trustees, are looking forward to building on the current services. we are also investigating new areas of support to meet the needs of our increasing community. One of our aims is to investigate the possibility of expanding the charity into supporting young adults 18+. We are in the process of talking to the local authority about appropriate accommodation within the SE London area. I look forward to updating you on this within my next annual report._
_In closing I would like to give a special thank you to my fellow trustees who give their time freely to support Ravensbourne Project to be a centre of excellence over the years. I would like to thank all the organisations and community groups that have supported us during the year._
_Yours sincerely Henrii Webb (Chair of Trustees)_
Page 2
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Report of the Executive Committee for the Year Ended 31 March 2021**
## **Introduction:**
The Ravensbourne Project is a charitable company limited by guarantee incorporated on 28 March 1996 and registered as a Charity on the same date.
The organisation originates from three well respected charities, the Ravensbourne Toy and Equipment Library, Ravensbourne Link, and the Handen Road Toy Library which together have been established in the London Borough of Lewisham since 1976.
Throughout this time our purpose is to provide services to carers of disabled children and young people that are responsive to their need.
## **Services:**
## **Day-Care:**
Saturday & Sundays weekly 09:00 to 16:00 School Holidays: Monday to Friday 09:00 to 16:00 **Overnight Service:**
Friday & Saturday 16:00 to 15:30 School Holidays: Monday to Friday 16:00 to 15:30 **Parent Support:** Monday to Thursday 10:30 to 14:30 **Ravensbourne Foundation Training** : Monday to Friday 09:00 to 17:00
We offer a wide range of activities within the house and community
Arts & Crafts, Cooking, Computers and iPad’s, Group games, Sports, Life skills and many other activities that the children have requested. all the children have their own activity plan that they have created with the support of the staff.
## **Booking a service**
Parents access the services at the Ravensbourne Project in a planned way. This depends on the outcome of assessment of their needs for short breaks service Lewisham.
They can book a short break once or twice a month at weekends throughout the year. During the school holidays families use the service between one and three times a week depending on their service points. All our opening dates for the year are published in advance on our web site.
## _**Objectives Aims & Activities:**_
## ➢ _**To support the children young people families within their community**_
- ➢ _**To support Children Young people to access activities that would not normally be available to them.**_
- ➢ _**To support children young people to build and develop lifelong friendships and relationships.**_
- ➢ _**To Offer free training to Parents and Families**_
- ➢ _**To support families during times of crises.**_
- ➢ **To Support the children and families during the transition periods.**
Page 3
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Report of the Executive Committee for the Year Ended 31 March 2021**
- ➢ **To support the Local Authority and other Organisations with their training needs of the staff.**
Together with families we will have the highest ambition for all Our children and young people. And we will make a positive difference to the lives of children and young people
## _**Our Vision:**_
Our vision is to work in partnership with families of the children/young people to support them in developing serivces to meet the needs of the children, young people and thier families. Ravensbourne is looking to the futher and establising services that can devlop with the childten and young people to ensure that the organastion is growing and to developing with the children young people we already support, and are working closly with the local athurity and other ogranaistions to ensure we are meeting the needs of the children young people of the futhur.
## **Feedback from Parents:**
**“The staff are always welcoming; I know my son is safe when he is there. This allows me to spend time with my other children on weekends”.**
**“My Daughter is very isolated due to her complex needs (Challenging behaviour) the staff work with her to support her to control her behaviours. I can always talk to someone at the house if I feel things are getting out of control”.**
**“After one of the open days, I was surprised how much work go on planning for our children” “Since joining the Parents group, I have made new friends with parents that are facing the same challenges in life”**
**“The Training has really helped me to understand some of my child’s behaviours”.**
**“I was having difficulty filling in the paperwork for my son. The staff spent time supporting me to understand what I need to do”.**
## **Staffing and Recruitment:**
The staff team are made up of qualified staff from NVQ2 to Diploma level 5 in children & young people. All services are overseen by the Business Manager, who is employed on a fulltime basic. All departments have an allocated Manager and senior support workers.
Ravensbourne Project recruitment is in-line (Ofsted Safe Recruitment) staff fulltime or sessional must meet met minimum recruitment standards.
Ravensbourne Project carries out yearly DBS on all staff.
## **Training and professional development**
Training and professional development is one of the key elements to effective practice and effective practice requires committed, enthusiastic and reflective staff with a breadth and depth of knowledge, skills and understanding. We encourage our staff to use their own learning to improve their work with our service users in ways that are sensitive, positive and non-judgemental.
Through initial and on-going training, we strive to continuougly improve our relationships with all our services users. Service users are identified as:
- ~ the young people,
- ~ their parents and carers,
- ~ the wider community
- ~ other professionals within and beyond our service.
Page 4
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Report of the Executive Committee for the Year Ended 31 March 2021**
## **Volunteers and work experience**
The Ravensbourne Project offer opportunities for volunteers and work experience. We have a volunteer policy and believe that volunteers play a role in assisting us to deliver services and increase our capacity by bringing their skills and local knowledge to us.
## **Accommodation:**
4 Crantock Road is a converted and extended family home set over two floors. On the ground floor there is a sitting room, a dining room, a sensory room, an art activity room and a main office. There is also a kitchen, a laundry, two toilets, and a wet room which is end-suite to the downstairs bedroom.
On the first floor, which can be reached by stairs or lift, the accommodation has been split. On one side there are two bathrooms, one fitted with a "wash and dry" toilet and a specially adapted bath and two bedrooms, and on the other side two single bedrooms.
A hearing loop system has been installed throughout. All the principal rooms have overhead tracks and portable carriages and other rooms have use of the mobile hoist, thus enabling our wheelchair users to be moved with safety and in comfort.
## **Governing Document**
The Company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
## **Recruitment and Appointment of Management Committee**
The directors of the company are also charity trustees for the purposes of charity law and under the ' company s Articles. They are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are selected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
The Directors may appoint a person who is willing to act as a Director, either to fill a vacancy or as an additional Director, provided the appointment does not cause the number of Directors to exceed any number fixed by or in accordance with the Articles. A Director so appointed shall hold office only until the next following Annual General Meeting and shall not be taken into account in determining Directors who are to retire by rotation.
The traditional business and medical skills are well represented on the Management Committee. In an effort to maintain this broad skill mix, members of the Management Committee are requested to provide a list of their skills (and update each year). In the event of particular skills being lost due to retirement, individuals are approached to offer themselves for election to the Management Committee.
The Management Committee aims to reflect the diverse community with which we work and we welcome applications from all sections of society who have the appropriate skills and experience, but particularly from those communities that are currently under represented. Due to the nature of the organisation much of the charity's work inevitably focuses upon supporting parents/carers of disabled children and young people and the needs of the children and young people themselves. The charity has through its networks sought to identify parent/carers who would be willing to become members of the management committee and use their own experience to assist the charity in its work.
Page 5
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Report of the Executive Committee for the Year Ended 31 March 2021**
The committee members are sought with a range of backgrounds, fundraising, corporate charity legal/ administration, management in the voluntary sector, strategic development, Social Health and Care, education, disability, and Human Resources. Information about becoming a Trustee is to be found on the website: www.ravensbourneproject.org.uk
## **Organisational Structure**
The Ravensbourne Project has a Board of Trustees of up to nine members who meet at a minimum, quarterly and are responsible for the strategic direction and policy of the charity.
At present the Committee has 4 members from a variety of professional backgrounds relevant the work of the charity. The Operational Director acts as the Company Secretary and sits on the Committee but has no voting rights.
A scheme of delegation is in place and day to day responsibility for the provision of services rest with the Operational Director.
To facilitate effective operations, the Operational Director has delegated authority approved by the trustees for operational matters including finance, recruitment; short breaks related activity, individual supervision of the staff team and ensuring that the staff teams continue to develop their skills and keep up to date with the latest developments in good working practices.
In addition, the Operational Director is responsible for ensuring that the charity delivers the services specified and the key performance indicators are met.
## **Financial Review**
It has been another stable year in respect of service delivery by the Ravensbourne Project following the previous year's rationalisation of service.
The Project's financial strategy over the past few years has been to invest in staff responsible for direct delivery of services whilst keeping investment in administrative and managerial staff to a minimum. Our objective being to generate a modest profit and establish a balance sheet strong enough to support future investment and a reserve fund approximately equivalent to six months of the Project's running costs.
This objective has now been achieved and the Project's strategy for future years is to invest in delivery, administrative and managerial staff to facilitate enhanced delivery, and diversification of services and increased administrative efficiency.
The Project was able to deliver a positive financial return in the year, due to the prudent financial management of costs, both staff and overheads, allied to support from all service delivery staff.
## **Principal Revenue and Funding Sources**
The Ravensbourne Project continues to generate revenues and to be funded by a number of sources. Revenue for services provided generated by charging the London Borough of Lewisham for both Daycare and Overnight services.
Page 6
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Report of the Executive Committee for the Year Ended 31 March 2021**
## **Investment Policy**
The funds received by the Project are used short term to provide services resulting in a relatively modest amount available for medium or longer-term investment. Short term surplus funds were placed in a high interest deposit account until required. The continuing improvement to cash flow and an increasing reserve balance may allow a diversification of investment decisions and this matter is under constant review by the Board and management of the Project.
## **Reserves Policy**
The Project has achieved the objective of establishing a reserve fund approximating to six months of the Ravensbourne Project's running costs. The Project will continue to endeavour to operate at a profit to enable future investment into staff and improved services.
## **Planning for the future**
In so far as it is complimentary to the charity objects, the charity is guided by both local and national policy. All services run by the Ravensbourne Project are run within the legal frameworks describe under each service heading.
The Board remains committed to the provision of short breaks for the families of disabled children and will continue to seek new forms of funding to facilitate the growth and development evident over the past years.
## **Responsibilities of the Management Committee**
The trustees (who are also directors of Ravensbourne Project for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company [and the group] and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 7
RAVENSBOURNE PR0cT
(A Company Llmlt•d by Guarants•)
Report of th• Executlve Commlttee for the Year Ended 31 March 2021
In so far as the tTUSt*s are ..
there is no relevant audit information of which the charitable company's auditors a unaware;
and
the trustees have taken all steps that they ought to have taken to rnake themselves aware of
any relevant audit infornBtion and to establish that the auditors are aware of that inf0mtion.
The trustees are ponsible for the TTwintenance and integnty of the rPorate and financial information
mcluded on the charitable ¢>Nnpany's website. Legislation in the United 'ngdorn goveming the
preparation and dissemination of financial Statennts may differ from legislation in other jurisdicbons.
Public Benefrt Statement
The Trustees confirm that they have complied with the duty in section 17 of the Charthes Act 2011 to
have due regard to the Charity Commission's general guidance on public benefft, Charilies and Public
Benefft.
Audltors:
Gobfvnns Lllnited Chartered Accountants and Registered Auditor will be proposed for app0lntffnt in
accordan with Section 485 of the Companies Act 20C6.
AppThed by the Management committ on .... ... . . . ....
and signed on its behalf by:
Henrii Webb (Chair)
Page 8
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Independent Auditor’s Report to the Members of Ravensbourne Project**
## **Opinion**
We have audited the financial statements of Ravensbourne Project (the ‘Charity’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the Charityʼs affairs as at 31 March 2021 and of its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trusteesʼ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charityʼs ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditorʼs report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 9
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Independent Auditor’s Report to the Members of Ravensbourne Project**
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trusteesʼ report (incorporating the directorsʼ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trusteesʼ report (incorporating the directorsʼ report) have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters in relation to which 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;
- the financial statements are not in agreement with the accounting records and returns;
- certain disclosures of trusteesʼ remuneration specified by law are not made; or
- we have not obtained all the information and explanations necessary for the purposes of our audit.
## **Responsibilities of the trustees**
As explained more fully in the trusteesʼ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charityʼs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.
## **Capability of the audit in detecting irregularities**
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity `’` s policies and procedures relating to: `o` Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
Page 10
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Independent Auditor’s Report to the Members of Ravensbourne Project**
- The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
-
- We inspected the minutes of meetings of those charged with governance.
- We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.
- We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
- We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
- In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditorʼs report.
## **Use of our report**
This report is made solely to the Charityʼs 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 Charityʼs members those matters we are required to state to them in an auditorʼs 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 Charity and the Charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.
**Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG**
Date: 31 January 2022
Page 11
## **Ravensbourne Project (A Company Limited by Guarantee)**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 March 2021**
|**Notes**
**Income from:**
Donations
Charitable activities
**3**
Other income
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Total expenditure**
**Net income for the year**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**14**
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
310
- 310 884
627,906
- 627,906 632,639
1,156
- 1,156
-|
|---|---|
||**629,372**
**- 629,372 633,523**
489,566
- 489,566 567,766|
||**489,566**
**- 489,566 567,766**
139,806
- 139,806 65,757
-
-
-
-|
||**139,806**
**- 139,806 65,757**
300,959
-300,959235,202|
||**440,765**
**- 440,765300,959**|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
Page 12
RAVENSBOURNE PROJECT
IA Cornpany Umlt•d by Guaran1••)
Balane• Shoot
A• at 31 March 2021
Flxed A880ts:
Tangible assets
425.62
Current Auots:
Debtors
Cash at bank and in hand
10
157.5
149,226
.726
159.594
7.228
166,822
Ltabllllle8:
Credttors.. amounts fall9 due wdhin one ye* 11
44.440
262,286
123,057
Credit$.. amunts falling due alter one year
Total net As80ts
12
247,123
440.765
259,45
Fund•:
Unrestricbj fvnds
Restrictal funds
Total Funds
14
440.765
3(Y).959
Approved ty the trusw on ...... . .. ... ......... .......... and signed on ts behalfby:
Henrii Webb
Trustee
Company Reglstratlon No. 3181695
The attxhed notes forn part of the financial staterrents.
Page 13
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Statement of Cash Flows**
## **For the Year Ended 31 March 2021**
|**Note**
**Cash flows from operating activities:**
Net cash provided by / (used in) operating activities
**15**
**Cash flows from investing activities:**
Sale/(Purchase) of fixed assets
**Cash provided by / (used in) investing activities**
**Cash flows from financing activities:**
Repayments of borrowing
**Cash provided by / (used in) financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
**16**|**2021**
**£**
2,000|**2021**
**£**
152,332
**2,000**
**(12,334)**|**2020**
**£**
-|**2020**
**£**
(58,465)
**-**
**(14,483)**|
|---|---|---|---|---|
||(12,334)||(14,483)||
||||||
|||**141,998**
7,228||**(72,948)**
80,176|
|||**149,226**||**7,228**|
Page 14
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements**
**For the Year Ended 31 March 2021**
## **1. Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **a) Basis of accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) – (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## **b) Going concern**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **c) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
## **d) Donations of gifts, services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Page 15
**RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
**Notes to the Financial Statements**
**For the Year Ended 31 March 2021**
## **1. Accounting policies (continued)**
## **f) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in
- inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
- Expenditure on charitable activities includes the costs of delivering services to further the purposes of
- the charitable company and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Allocation of support costs**
Support costs are those functions that assist the work of the charitable company but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charitable company’s programmes and activities. These costs have been allocated to expenditure on charitable activities.
## **i) Fixed assets**
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Freehold property over 50 years Motor Vehicles 25% reducing balance method
Page 16
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Notes to the Financial Statements**
## **For the Year Ended 31 March 2021**
## **2. Detailed comparatives for the statement of financial activities**
|**Income from:**
Donations
Charitable activities
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income / (expenditure) for the year**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**3. Income from charitable activities**
LB Lewisham - Day Respite - Overnights,
Weekends and Holidays
Other||**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
884
-
884
632,639
-
632,639
**633,523**
**-**
**633,523**
567,766
-
567,766
**567,766**
**-**
**567,766**
65,757
-
65,757
-
-
-
**65,757**
**-**
**65,757**
235,202
-
235,202
**300,959**
**-**
**300,959**
**Unrestricted**
**Restricted**
**Total**
**Total**
**2021**
**2021**
**2021**
**2020**
**£**
**£**
**£**
**£**
627,906
-
627,906
631,779
-
- -
860|
|---|---|---|
|||**627,906**
**-**
**627,906**
**632,639**|
Page 17
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2020**
## **4. Analysis of expenditure**
|**Analysis of expenditure**||
|---|---|
|**Basis of**
**allocation**
Salaries and NI
Direct
Activities Costs
Usage
Agency staff
Direct
Audit Fees
Usage
Bank Charges and Loan Interest
Usage
Bookkeeping and Payroll Services
Usage
Cleaning, Maintenance and storage
Usage
Depreciation
Usage
Equipment Hire and Rental
Usage
General Expenses
Usage
Heat, Light and Power
Usage
Legal and professional fees
Usage
Pension Costs
Usage
Insurance
Usage
Printing, Postage and Stationery
Usage
Regulatory Visits and fees
Direct
Rates
Usage
Staff Welfare and Training
Usage
Telephone, Fax and Internet
Usage
Travelling, Motor Expenses and Fuel
Usage
Trustees Expenses
Usage
Governance costs
Support Costs|**Nursery**
**Day Respite - Overnight,**
**Weekends and Holidays**
**Support**
**Costs**
**Governance**
**2021**
**Total**
**2020**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
48,531
258,834
16,178
-
323,543
343,843
679
3,620
226
-
4,525
9,318
-
29,594
-
-
29,594
84,890
-
-
-
5,950
5,950
5,500
2,352
12,546
784
-
15,682
16,703
824
4,397
275
-
5,496
-
2,623
13,988
874
-
17,485
27,557
1,637
8,730
546
-
10,913
11,194
1,033
5,510
344
-
6,887
6,934
1,612
8,599
538
-
10,749
650
1,097
5,850
365
-
7,312
4,883
137
730
45
-
912
922
2,129
11,352
709
-
14,190
13,720
446
2,376
148
-
2,970
2,940
502
2,679
168
-
3,349
4,953
1,111
5,926
-
-
7,037
7,472
298
1,591
100
-
1,989
1,103
932
4,970
311
-
6,213
6,225
1,487
7,931
496
-
9,914
12,288
728
3,885
243
-
4,856
6,671
-
-
-
-
-
-|
||**68,158**
**393,108**
**22,350**
**5,950**
**489,566**
**567,766**
626
5,324
-
(5,950)
-
2,353
19,997
(22,350)
-
-
**71,137 **
**418,429**
**-**
**-**
**489,566**|
Usage cost is allocated based on staff time spent on a fund. Direct costs have been allocated based on actual time spent on the activities. All of the expenditure was unrestricted (2020: all unrestricted).
Page 18
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2020**
## **5. Net income / (expenditure) for the year**
|This is stated after
charging:
Depreciation
Auditors' remuneration|**2021**
**2020**
**£**
**£**
10,913
11,194
5,750
5,600|
|---|---|
## **6. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
Staff costs were as follows:
|Staff costs were as follows:||
|---|---|
|Salaries and wages
Social security costs
Total|**2021**
**2020**
**£**
**£**
296,624
316,029
26,919
27,814|
||323,543
343,843|
One employee received emoluments between £60,000 and £69,999. The total employee benefits including pension contributions of the key management personnel were £79,506 (2020: £72,657). The average number of employees during the period was 14 (2020: 19).
## **7. Trustee remuneration & related party transactions**
One of the trustees Robert Jones received remuneration of £68,238 (2020: £62,417) for the services provided as an operational director. The charity paid £3,070 (2020: £3,070) pension contributions for Robert Jones during the year. No other member of the management committee received any remuneration during the year.
No trustee or other person related to the charitable company has any personal interest in any contract or transaction entered into by the charitable company during the year (2020 - NIL).
There were no other related party transactions during the year (2020: none).
## **8. Taxation**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
Page 19
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2020**
## **9. Tangible fixed assets**
|Cost brought forward
Additions
Disposals
Cost carried forward
Depreciation brought forward
Charge for the year
Depreciation on disposals
Depreciation carried forward
Net book value carried forward
Net book value brought forward|**Freehold**
**Property**
**Motor**
**Vehicles**
**Total**
**£**
**£**
**£**
545,645
2,000
547,645
-
-
-
-
(2,000)
(2,000)|
|---|---|
||**545,645**
**-**
**545,645**|
||109,130
1,156
110,286
10,913
-
10,913
-
(1,156)
(1,156)|
||**120,043**
**-**
**120,043**|
|||
||**425,602**
**-**
**425,602**|
|||
||**436,515**
**844**
**437,359**|
## **10. Debtors**
|**10.** **Debtors**||
|---|---|
|Fee income receivable
**11. Creditors: Amounts falling due within one year**
Bank loans and overdrafts
Other creditors
Accruals
Social security
**12. Creditors: Amounts falling due over one year**
Bank loans|**2021**
**2020**
**£**
**£**
157,500
159,594|
||157,500
159,594|
||**2021**
**2020**
**£**
**£**
26,214
26,214
6,777
10,431
7,470
7,120
3,979
-|
||44,440
43,765|
||**2021**
**2020**
**£**
**£**
247,123
259,457
247,123
259,457|
Page 20
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2020**
## **13. Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Non-current liabilities
Net assets at the year end|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**2021**
**Total**
**Funds**
**2020**
**£**
**£**
**£**
**£**
425,602
-
425,602
437,359
306,726
-
306,726
166,822
(44,440)
-
(44,440)
(43,765)
(247,123)
-
(247,123)
(259,457)|
|---|---|
||440,765
-
440,765
300,959|
## **14. Movements in funds**
|**Unrestricted funds:**
General funds
Total unrestricted funds
**Total funds**|**At the**
**start of**
**the**
**year**
**Income**
**(inc.**
**gains)**
**Expenditure Transfers**
**At the**
**end of**
**the year**
**£**
**£**
**£**
**£**
**£**
300,959
629,372
(489,566)
-
440,765|
|---|---|
||300,959
629,372
(489,566)
-
440,765|
|||
||**300,959**
**629,372**
**(489,566)**
**-**
**440,765**|
## **15. Reconciliation of net income / (expenditure) to net cash flow from operating activities**
|**Net income / (expenditure) for the reporting period**
**(as per the statement of financial activities)**
Depreciation
(Profit) on disposal of fixed asset
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
**Net cash provided by / (used in) operating activities**|**2021**
**2020**
**£**
**£**
139,806
65,757
10,913
11,194
(1,156)
-
2,094
(110,130)
675
(25,286)|
|---|---|
||**152,332 **
**(58,465)**|
## **16. Analysis of cash and cash equivalents**
|Cash at bank and in hand
**Total cash and cash equivalents**|**At the**
**beginning**
**of the**
**year**
**Cash**
**flows**
**At the**
**end of**
**the year**
**£**
**£**
**£**
7,228
141,998
149,226|
|---|---|
||**7,228**
**141,998**
**149,226**|
Page 21
## **RAVENSBOURNE PROJECT**
## **(A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2020**
## **17. Previous reporting period information**
## **17a. Analysis of expenditure of the previous reporting period**
|**Basis of**
**allocation**
Salaries and NI
Direct
Activities Costs
Usage
Agency staff
Direct
Audit Fees
Usage
Bank Charges and Loan Interest
Usage
Cleaning, Maintenance and storage
Usage
Depreciation
Usage
Equipment Hire and Rental
Usage
General Expenses
Usage
Heat, Light and Power
Usage
Legal and professional fees
Usage
Pension Costs
Usage
Insurance
Usage
Printing, Postage and Stationery
Usage
Regulatory Visits and fees
Direct
Rates
Usage
Staff Welfare and Training
Usage
Telephone, Fax and Internet
Usage
Travelling, Motor Expenses and Fuel
Usage
Trustees Expenses
Usage
Governance costs
Support Costs|**Nursery**
**Day Respite -**
**Overnight,**
**Weekends and**
**Holidays**
**Support**
**Costs**
**Governance**
**2020**
**Total**
**£**
**£**
**£**
**£**
**£**
51,576
275,074
17,193
-
343,843
1,398
7,454
466
-
9,318
-
52,834
32,056
-
84,890
-
-
-
5,500
5,500
2,505
13,362
836
-
16,703
4,134
22,046
1,377
-
27,557
1,679
8,955
560
-
11,194
1,040
5,547
347
-
6,934
98
520
32
-
650
732
3,906
245
-
4,883
138
738
46
-
922
2,058
10,976
686
-
13,720
441
2,352
147
-
2,940
743
3,962
248
-
4,953
1,180
6,292
-
-
7,472
165
882
56
-
1,103
934
4,980
311
-
6,225
1,843
9,830
615
-
12,288
1,001
5,337
333
-
6,671
-
-
-
-
-|
|---|---|
||**71,665**
**435,047**
**55,554**
**5,500**
**567,766**
579
4,921
-
(5,500)
-
5,848
49,706
(55,554)
-
-|
||**78,092 **
**489,674**
**-**
**-**
**567,766**|
Page 22
## **RAVENSBOURNE PROJECT (A Company Limited by Guarantee)**
## **Notes to the Financial Statements For the Year Ended 31 March 2020**
## **17b. Analysis of net assets between funds of the previous reporting period**
|Tangible fixed assets
Current assets
Current liabilities
Non-current liabilities
Net assets at the year end|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**2020**
**£**
**£**
**£**
437,359
-
437,359
166,822
-
166,822
(43,765)
- (43,765)
(259,457)
-(259,457)|
|---|---|
||300,959
-
300,959|
## **17c. Details of movements in funds during the previous reporting period**
|**Unrestricted funds:**
General funds
Total unrestricted funds
Total funds|**At the**
**start of**
**the year**
**Income**
**(inc. gains)**
**Expenditure Transfers**
**At the**
**end of**
**the year**
**£**
**£**
**£**
**£**
**£**
235,202 633,523
(567,766)
- 300,959|
|---|---|
||235,202 633,523
(567,766)
-300,959|
|||
||235,202633,523
(567,766)
-300,959|
Page 23