2022-03-31-accounts

Registered Number: 3181695 (England & Wales)

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Financial Statements

for the year ended 31 March 2022

RAVENSBOURNE PROJECT

(company Limited by guarantee)

Index to the Financial Statements

for the year ended 31 March 2022

	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 Dupty Manager Siobhann Brady Lead Children’s Practitioner Caren Lewis

Registered Office 4 Crantock Road Catford London SE6 2QT

Principal Bank

Lloyds Plc. 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 2022

Chair’s Report:

I would like to start this year’s report by showing my appreciation to the staff team. who have worked tirelessly to ensure Ravensbourne Project could continue to support the families of Lewisham, during the pandemic over the last few years.

Our focus during the year, was to ensure that we could reach out to as many families as possible. Offering the children/young people the opportunity to continue to socialise with their friends during this difficult time. This involved us reviewing the premises and working with the staff and families on how changes could be made. Working with everyone, we came to the decision that our focus would be on ways we could make the outside space user friendly all year round for all the children/young people. This was completed at the beginning of the year. The old Astro turf was replaced with artificial lawn, and a new garden room and a grow and eat garden area was created to give the children/young people new experiences.

Ravensbourne Project has continued to work closely with other organisations. Whose focus is on new ways to make services more inclusive for children and families living with complex needs. For the last 9 years I have been a trustee for the Brent Knoll & Watergate Trust. In 2021 my time as Ravensbourne Project’s representative ended. Robert Jones operational director has now been appointed as a trustee in my place. I wish him and the trust every success moving forward. I am sure that Ravensbourne Project will continue to work closely with the trust to look at new services to meet the needs of the children/young people.

The Board is always looking to the future. And how we can work harder to meet the needs of children and families living with complex needs. This will include the wider community as well as the Ravensbourne Project families. It has been agreed to form a new arm of Ravensbourne Project in 2022. (Ravensbourne Project Holidays) The aim of this, is to offer free, or subsidised breaks to families and the wider community that would benefit from time away from home. Many of the families we support have never been able to take a break. This could be due to financial restrictions or the needs of the child/children. We are aiming to offer 36 families this opportunity in the coming year. And I look forward to updating you on our progress in my next 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 2022

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 2022

• ➢ 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 2022

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 2022

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 2022

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 PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2022

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Public Benefit Statement

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, Charities and Public Benefit.

Auditors:

Goldwins Limited Chartered Accountants and Registered Auditor will be proposed for appointment in accordance with Section 485 of the Companies Act 2006.

Approved by the Management Committee on …08/12/2022….. 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 2022 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 2022 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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: 9 December 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 2022

Notes Income from: Donations Charitable activities 3 Other income Total income Expenditure on: Fundraising Charitable activities 4 Total expenditure Net income / (expenditure) 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 2022 2022 2022 2021 £ £ £ £ 9,494 - 9,494 310 630,000 - 630,000 627,906 14 - 14 1,156
	639,508 - 639,508 629,372 1,106 - 1,106 - 578,377 -578,377 489,566
	579,483 - 579,483 489,566 60,025 - 60,025 139,806 - - - -
	60,025 - 60,025 139,806 440,765 - 440,765 300,959
	500,790 -500,790 440,765

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 (A Company Limited by Guarantee)

Balance Sheet

As at 31 March 2022

Notes Fixed Assets: Tangible assets 9 Current Assets: Debtors 10 Cash at bank and in hand Liabilities: Creditors: amounts falling due within one year 11 Net Current Assets Creditors: amounts falling due after one year 12 Total net Assets Funds: 14 Unrestricted funds Restricted funds Total Funds	£ 112,500 248,091	2022 £ 414,689 317,851 (231,750) 500,790 500,790 - 500,790	£ 157,500 149,226	2021 £ 425,602 262,286 (247,123)
	360,591 (42,740)		306,726 (44,440)
				440,765
				440,765 -
				440,765

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by the trustees on …08/12/2022……………. and signed on its behalf by:

Henrii Webb Trustee

Company Registration No. 3181695

The attached notes form part of the financial statements.

Page 13

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Statement of Cash Flows

For the Year Ended 31 March 2022

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	2022 £ -	2022 £ 114,238 - (15,373)	2021 £ 2,000	2021 £ 152,332 2,000 (12,334)
	(15,373)		(12,334)
		98,865 149,226		141,998 7,228
		**248,091 **		149,226

Page 14

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements

For the Year Ended 31 March 2022

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) – 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 2022

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 2022

2. Detailed comparatives for the statement of financial activities

Income from: Donations Charitable activities Other income 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 L B Lewisham - Day Respite - Overnights, Weekends and Holidays	Unrestricted Restricted Total Funds Funds Funds 2021 2021 2021 £ £ £ 310 - 310 627,906 - 627,906 1,156 - 1,156 629,372 - 629,372 489,566 - 489,566 489,566 - 489,566 139,806 - 139,806 - - - 139,806 - 139,806 300,959 - 300,959 440,765 - 440,765 Unrestricted Restricted Total Total 2022 2022 2022 2021 £ £ £ £ 630,000 - 630,000 627,906
	630,000 - 630,000 627,906

Page 17

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2022

4. 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 Clothing, Food and Subsistence Usage Computer running and software costs Usage Depreciation Usage Equipment Hire and Rental Usage Fundraising costs Direct General Expenses Usage Heat, Light and Power Usage Legal and professional fees Usage Insurance Usage Printing, Postage and Stationery Usage Regulatory Visits and fees Direct Rates Usage Staff Welfare, training and recruitment Usage Telephone, Fax and Internet Usage Travelling, Motor Expenses and Fuel Usage Trustees Expenses Usage Governance costs Support Costs Total 2022 Total 2021	Fundraising Nursery Day Respite - Overnight, Weekends and Holidays Support Costs Governance 2022 Total £ £ £ £ £ - 49,901 266,138 16,633 - 332,672 - 660 3,518 220 - 4,398 - - 118,152 - - 118,152 - - - - 6,315 6,315 - 1,879 10,020 626 - 12,525 - 300 1,600 100 - 2,000 - 4,164 22,208 1,388 - 27,760 - - - - - - - 1,395 7,442 465 - 9,302 - 1,637 8,730 546 - 10,913 - 655 3,495 219 - 4,369 1,106 - - - - 1,106 - 542 2,893 181 - 3,616 - 891 4,754 298 - 5,943 - 23 120 7 - 150 - 486 2,592 162 - 3,240 - 214 1,143 72 - 1,429 - 1,113 5,939 - - 7,052 - 174 930 58 - 1,162 - 1,583 8,443 528 - 10,554 - 2,200 11,734 733 - 14,667 - 303 1,614 101 - 2,018 - 21 112 7 - 140	2021 Total £ 337,733 4,525 29,594 5,950 15,682 913 17,485 - 7,255 10,913 6,887 - 8,077 7,312 912 2,970 3,349 7,037 1,989 6,213 9,914 4,856 -
	1,106 68,141 481,577 22,344 6,315 579,483 - 665 5,650 - (6,315) - 2,352 19,992 (22,344) -	489,566
	1,106 71,158 507,219 - - 579,483
	- 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 (2021: all unrestricted).

Page 18

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2022

5. Net income / (expenditure) for the year

This is stated after
charging:
	2022	2021
	£	£
Depreciation	10,913	10,913
Auditors' remuneration	5,221	4,833

6. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages Social security costs Employer's pension contributions Total	2022 2021 £ £ 293,050 295,729 26,036 27,814 13,586 14,190
	332,672 337,733

The following number of employees received employee benefits (excluding employer pension and national insurance) during the year between:

national	insurance) during the year between:
		2022	2021
		£	£
£60,000	- £69,999
		-	1
£70,000	- £79,999	1	-

The total employee benefits including pension contributions of the key management personnel were £81,989 (2021: £79,506). The average number of employees during the period was 11 (2021: 14).

7. Trustee remuneration & related party transactions

One of the trustees Robert Jones received remuneration of £70,411 (2021: £68,238) for the services provided as an operational director. The charity paid £3,080 (2021: £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 (2021 - NIL).

There were no other related party transactions during the year (2021: 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 2022

9. Tangible fixed assets

Cost Cost brought forward Additions Disposals Cost carried forward Depreciation Depreciation brought forward Charge for the year Depreciation carried forward Net book value carried forward Net book value brought forward	Freehold Property Total £ £ 545,645 545,645 - - - -
	545,645 545,645
	120,043 120,043 10,913 10,913
	130,956 130,956
	414,689 414,689
	425,602 **425,602 **

10. Debtors

Fee income receivable Creditors: Amounts falling due within one year Bank loans and overdrafts Other creditors Accruals Social security Creditors: Amounts falling due over one year Bank loans	2022 2021 £ £ 112,500 157,500
	112,500 157,500
	2022 2021 £ £ 26,214 26,214 6,238 6,777 9,985 7,470 303 3,979
	42,740 44,440
	2022 2021 £ £ 231,750 247,123
	231,750 247,123

11. Creditors: Amounts falling due within one year

12. Creditors: Amounts falling due over one year

Page 20

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2022

13. Analysis of net assets between funds

Tangible fixed assets Current assets Current liabilities Non-current liabilities Net assets at the year end Movements in funds Unrestricted funds: General funds Total unrestricted funds Total funds	At the start of the year £ 440,765	Unrestricted Funds Restricted Funds Total Funds 2022 Total Funds 2021 £ £ £ £ 414,689 - 414,689 425,602 360,591 - 360,591 306,726 (42,740) - (42,740) (44,440) (231,750) - (231,750) (247,123)
		500,790 - 500,790 440,765
		Income Expenditure Transfers At the end of the year £ £ £ £ 639,508 (579,483) - 500,790 639,508 (579,483) - 500,790 639,508 (579,483) - 500,790
	440,765
	440,765

14. Movements in funds

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 Analysis of cash and cash equivalents Cash at bank and in hand Total cash and cash equivalents	At the beginning of the year £ 149,226	2022 2021 £ £ 60,025 139,806 10,913 10,913 - (1,156) 45,000 2,094 (1,700) 675
		114,238 **152,332 **
		Cash flows At the end of the year £ £ 98,865 248,091
	149,226	98,865 **248,091 **

16. Analysis of cash and cash equivalents

Page 21

RAVENSBOURNE PROJECT

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2022

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 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 £ £ £ £ £ 48,531 258,834 16,178 - 323,543 679 3,620 226 - 4,525 - 29,594 - - 29,594 - - - 5,950 5,950 2,352 12,546 784 - 15,682 824 4,397 275 - 5,496 2,623 13,988 874 - 17,485 1,637 8,730 546 - 10,913 1,033 5,510 344 - 6,887 1,612 8,599 538 - 10,749 1,097 5,850 365 - 7,312 137 730 45 - 912 2,129 11,352 709 - 14,190 446 2,376 148 - 2,970 502 2,679 168 - 3,349 1,111 5,926 - - 7,037 298 1,591 100 - 1,989 932 4,970 311 - 6,213 1,487 7,931 496 - 9,914 728 3,885 243 - 4,856 - - - - -
	68,158 393,108 22,350 5,950 489,566 626 5,324 - (5,950) - 2,353 19,997 (22,350) - -
	71,137 418,429 - - 489,566

Page 22

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2022

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 2021 £ £ £ 425,602 - 425,602 306,726 - 306,726 (44,440) - (44,440) (247,123) - (247,123)
	440,765 - 440,765

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 £ £ £ £ £ 300,959 629,372 (489,566) - 440,765
	300,959 629,372 (489,566) - 440,765
	300,959 629,372 (489,566) - 440,765

Page 23