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2024-03-31-accounts

Registered Number: 3181695 (England & Wales)

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Financial Statements for the year ended 31 March 2024

RAVENSBOURNE PROJECT

(company Limited by guarantee)

Index to the Financial Statements

for the year ended 31 March 2024

Page
Legal and Administrative Details 1
Trustees' Report 2
Auditors' Report 10
Statement of Financial Activities 13
Balance Sheet 14
Statement of Cash Flows 15
Notes to the Financial Statements 16

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 2024

A Year of Growth and Dedication

Once again, I am happy to report on the success of the Ravensbourne Project over the year. With the dedication of the staff team and the support of my fellow trustees, we have continued to deliver and grow the services for the families of Lewisham.

Refurbishment of Crantock Road

During the year, we undertook the refurbishment of Crantock Road. This involved a lot of research around the needs of children with complex needs. The house has now been decorated to support the well-being of every child.

The refurbishment has not only transformed the physical space but has also provided an environment that caters to the specific needs of our children. The thoughtful selection of colors and designs for each room reflects our commitment to creating a supportive and nurturing atmosphere.

Each room has a particular colour, which is designed to support children with complex behavioural needs, as well as autism and other forms of disability. This thoughtful approach ensures that the environment is conducive to their development and comfort. It was also agreed that an investment would be made of a new Sentry pod. that has demonstrated. how it supports. how it can be used to support children with complex behavioral needs to self regulate. The pot has been a big hit with the children and young people of rooms one project, and it has been reported a decrease in behaviours many. well spent, I believe.

Development of Crantock Road in the Coming Year 2025-26

Furthermore, the refurbishment has created a model that can be used for future projects aimed at enhancing the living conditions of children with complex needs. This model of thoughtful design and investment in specialized equipment, such as the Sentry pod, has proven effective in creating a nurturing environment that promotes well-being and reduces behavioral issues. The success of this initiative has inspired us to consider similar approaches To the garden area. We are looking at next year. creating a new sensory garedn, The plans for this have already been drawn up. and we are excited to deliver this new in 2025 We will be looking for volunteers to support us with this activity, if anybody is interested. in getting involved, please speak to Robert Jones, the operational director,

Development of Respite Care Services 18 to 24 year old

I know parents are concerned about the support they will receive post 18 when the young person moves to adult services. This is constantly a conversation we are having with Lewisham to see how Ravensbourne Project Can work with Lewisham to look at? ways we could offer support during. this difficult time. Robert Jones operational director has been meeting with the adult services To offer our support in any which way we can following the meetings. The board of trustees have decided that Ravensbourne should staff the registration for CQC. It has been agreed that we will start the registration process following the next ofsted visit. I look forward to reporting on the progress in the next report.

Development of Residential Services 18 + Home for life

We have talked many times about the need for a more permanent residential placement for young people with more complex behavioral and medical needs. Again, Wavingspoon is looking to support the families in finding appropriate accommodation. Robert has been supported by Jessica, over the last year, to look at various properties, both within London and surrounding areas. The aim is to find a property that could offer the young people a place in a small community where they can develop more independent skills. We are hoping to find a property that will allow us to develop over the coming years to build our own community and to give the young people a home for life that will support them in their development.

Recruitment and Staff Development

We are also looking at innovative training programs to enhance staff skills, ensuring that they are wellequipped to meet the diverse needs of the children / young people we support. This year, we introduced

Page 2

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

several workshops focusing on communication, therapeutic practices, and inclusive approaches, which have been met with enthusiasm and positive feedback from our team. I would like to take this opportunity to welcome the new staff that we have recruited within the year. They have brought fresh, new ideas to Ravensbourne Project, and we are looking forward to working with them on their creative ideas to support the children / young people moving forward. Among our new recruits, we have welcomed a member of staff who is neurodiverse. This addition has provided us with new insights into the obstacles and barriers that neurodiverse individuals need to overcome within their daily lives. We are thrilled to see the positive impact this has had on our team and the inclusive environment we are fostering. I am sure the new staff will have a massive impact on Ravensbourne and possibly be the new leaders in the future.

Leadership and Acknowledgments

I would like to take this opportunity to thank my fellow trustees, staff, and families for their continuing support in the development of Ravensbourne. I would especially like to thank Joe Burchell for his unwavering support to the Board of Trustees. He has now supported Ravensbourne for over 20 years and has been an invaluable asset to the organisation since joining us.

A special mention goes to Sharon Edwards, who sadly left us this year due to ill health. Sharon was the registered manager and will be greatly missed by the families and staff. However, we are pleased to announce the appointment of Siobhan Brady as the acting registered manager. Siobhan has been working closely with the families of Lewisham for 20 years and is dedicated to seeing the service grow with the needs of the families. I am confident we will see significant developments thanks to her input. As we move forward, our emphasis will remain on fostering a supportive and inclusive atmosphere for the families we serve, ensuring that their voices are heard and their needs are met with the utmost care and professionalism. We are committed to building on the strong foundation laid by our predecessors and embracing innovative approaches that will enhance our services and make a meaningful difference in the lives of those we support. Together, with unwavering dedication and a shared vision, we will continue to drive the Ravensbourne Project towards greater heights, making it a beacon of excellence and compassion in our community.

Yours sincerely Henrii Webb (Chair of Trustees)

Page 3

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

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:

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RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

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:

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.

Page 5

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

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. 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

Page 6

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

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.

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.

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RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

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:

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.

In so far as the trustees are aware:

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.

Page 8

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Report of the Executive Committee for the Year Ended 31 March 2024

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 10[th] March 2025 and signed on its behalf by:

…………………..

Henrii Webb (Chair)

Page 9

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 2024 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:

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 10

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:

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:

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:

Page 11

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Independent Auditor’s Report to the Members of Ravensbourne Project

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: 26[th] March 2025

Page 12

Ravensbourne Project (A Company Limited by Guarantee)

Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 March 2024

Notes
Income from:
Donations
Charitable activities
3
Investment income
4
Total income
Expenditure on:
Fundraising
Charitable activities
Total expenditure
5
Net income / (expenditure) for the
year
6
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
15
Total funds carried forward		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2023
£
£
£
£
1,919
- 1,919 807
630,380
- 630,380 639,962
944
-944 277
633,243
- 633,243 641,046
1,874
- 1,874 4,564
675,166
-675,166 621,716
677,040
- 677,040 626,280
(43,797)
-
(43,797)
14,766
-
-
-
-
(43,797)
-
(43,797)
14,766
515,556
-515,556 500,790
471,759
- 471,759515,556

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.

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RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Balance Sheet

As at 31 March 2024

Notes 2024 2023
£ £ £ £
Fixed Assets:
Tangible assets 10 418,652 439,390
Current Assets:
Debtors 11 157,610 -
Cash at bank and in hand 146,718 351,715
304,328 351,715 351,715
Liabilities:
Creditors: amounts falling due within one
year 12 (46,522) (56,444)
Net Current Assets 257,806 295,271
Creditors: amounts falling due after one
year 13 (204,699) (219,105)
Total net Assets 471,759 515,556
Funds: 15
Unrestricted funds 471,759 515,556
Restricted funds - -
Total Funds 471,759 515,556

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 10[th] March 2025 and signed on its behalf by:

Henrii Webb Trustee

Company Registration No. 3181695

The attached notes form part of the financial statements.

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RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Statement of Cash Flows

For the Year Ended 31 March 2024

Note
Cash flows from operating activities:
Net cash provided by / (used in) operating
activities
16
Cash flows from investing activities:
Interest/ rent/ dividends from investments
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
17		 2024
£
944
-		 2024
£
(191,535)
944
(14,406)		 2023
£
277
(48,306)		 2023
£
164,298
(48,029)
(12,645)
(14,406) (12,645)
(204,997)
351,715		 103,624
248,091
146,718 351,715

Page 15

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

For the Year Ended 31 March 2024

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.

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

For the Year Ended 31 March 2024

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:

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 Caravan 25% reducing balance method IT Equipment Over 2 years.

Page 17

RAVENSBOURNE PROJECT (A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2024

2. Detailed comparatives for the statement of financial activities

Income from:
Donations
Charitable activities
Other income
Total income
Expenditure on:
Fundraising
Charitable activities
Total expenditure
Net income 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
Holiday Caravan rental income		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2023
2023
2023
£
£
£
807
-
807
639,962
-
639,962
277
-
277
641,046
-
641,046
4,564
-
4,564
621,716
-
621,716
626,280
-
626,280
14,766
-
14,766
-
-
-
14,766
-
14,766
500,790
-
500,790
515,556
-
515,556
Unrestricted
Restricted
Total
Total
2024
2024
2024
2023
£
£
£
£
630,000
-
630,000
638,982
380
-
380
980
630,380
-
630,380
639,962

4. Investment income

Bank interest Unrestricted
Restricted
Total
Total
2024
2024
2024
2023
£
£
£
£
944
-
944
277
944
-
944
277

Page 18

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024

5. 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
Charitable donations
Direct
Cleaning, Maintenance and storage
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
Holiday Home Operating Costs
Direct
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
Website costs
Usage
Governance costs
Support Costs
Total 2024
Total 2023
Fundraising
Nursery
Day Respite - Overnight, Weekends and
Holidays
Support
Costs
Governance
2024
Total
-
56,420
300,906
18,806
-
376,132
-
947
5,050
315
-
6,312
-
-
134,475
-
-
134,475
-
-
-
-
6,900
6,900
-
2,024
10,794
675
-
13,493
-
370
1,971
123
-
2,464
-
-
-
-
-
-
4,331
23,101
1,444
-
28,876
-
334
1,782
111
-
2,227
-
3,111
16,590
1,037
-
20,738
-
641
3,420
214
-
4,275
29
-
-
-
-
29
-
562
2,999
188
-
3,749
-
1,721
9,176
573
-
11,470
1,845
-
-
-
-
1,845
-
560
2,989
187
-
3,736
-
761
4,059
254
-
5,074
-
1,606
8,566
-
-
10,172
-
269
1,434
90
-
1,793
-
1,551
8,270
516
-
10,337
-
4,808
25,643
1,603
-
32,054
-
84
447
28
-
559
-
50
264
16
-
330
2023
Total
350,206

3,208
119,189

6,648

15,176

1,500

150

25,421

6,985

23,605

4,209

-

2,439

12,338

4,564

3,450

1,970

6,222

2,657

5,263

20,454

2,746

7,880
1,874
80,150
561,936
26,180
6,900
677,040
-
726
6,174
-
(6,900)
- 2,756
23,424
(26,180)
-		 626,280
1,874
83,632
591,534
-
-
677,040
4,564
77,835
543,881
-
-
626,280

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 (2023: all unrestricted).

Page 19

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024

6. Net income / (expenditure) for the year

2024 2023
£ £
Depreciation 20,738 23,605
Auditors' remuneration 5,750 5,500

7. 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		 2024
2023
£
£
339,728
312,419
26,255
25,467
10,149
12,320
376,132
350,206

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

£60,000 - £69,999 £70,000 - £79,999

2024 2023
£ £
- 1
1 -

The total employee benefits including pension contributions of the key management personnel were £86,837 (2023: £75,234). The average number of employees during the period was 17 (2023: 16).

8. Trustee remuneration & related party transactions

One of the trustees Robert Jones received remuneration of £74,766 (2023: £64,161) for the services provided as an operational director. The charity paid £3,009 (2023: £3,082) 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 (2023 - none).

There were no other related party transactions during the year (2023: none).

9. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Page 20

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024

10. Tangible fixed assets

Cost
Cost brought forward
Additions
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
Caravan
Fixtures,
Fittings and
Equipment
IT
Equipment
Total
£
£
£
£
£
545,645 38,299
7,548
2,459 593,951
-
-
-
- -
545,645 38,299
7,548
2,459 593,951
141,869
9,575
1,887
1,230 154,561
10,913
7,181
1,415
1,229 20,738
152,782 16,756
3,302
2,459 175,299
392,863 21,543
4,246
- 418,652
403,776 28,724
5,661
1,229 439,390

11. Debtors

Fee income receivable
Other debtors		 2024
2023
£
£
157,600
-
10
-
157,610
-

12. Creditors: Amounts falling due within one year

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		 2024
2023
£
£
26,214
26,214
4,219
13,960
7,960
7,708
8,129
8,562
46,522
56,444
2024
2023
£
£
204,699
219,105
204,699
219,105

13. Creditors: Amounts falling due over one year

Page 21

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024

14. 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
2024
Total Funds
2023
£
£
£
£
418,652
-
418,652
439,390
304,328
-
304,328
351,715
(46,522)
-
(46,522)
(56,444)
(204,699)
-
(204,699)
(219,105)
471,759
-
471,759
515,556

15. Movements in funds

Movements in funds
Unrestricted funds:
General funds
Total unrestricted funds
Total funds		 At the start
of the year
Income
Expenditure
Transfers
At the
end of
the year
£
£
£
£
£
515,556 633,243
(677,040)
-
471,759
515,556 633,243
(677,040)
-
471,759
515,556633,243
(677,040)
-
471,759

16. 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
Interest, rent and dividends from investments
(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		 2024
2023
£
£
(43,797)
14,766
20,738
23,605
(944)
(277)
(157,610)
112,500
(9,922)
13,704
(191,535)
164,298
At the
beginning
of the year
Cash
flows
At the
end of
the year
£
£
£
351,715
(204,997)
146,718
351,715
(204,997)
146,718

17. Analysis of cash and cash equivalents

Page 22

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024

18. Previous reporting period information

18a. 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
Charitable donations
Direct
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
Holiday Home Operating Costs
Direct
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
Website costs
Usage
Governance costs
Support Costs
Total 2023		 Fundraising
Nursery
Day Respite - Overnight,
Weekends and Holidays
Support
Costs
Governance
2023
Total
£
£
£
£
£
-
52,531
280,165
17,510
-
350,206
-
481
2,566
161
-
3,208
-
-
119,189
-
-
119,189
-
-
-
-
6,648
6,648
-
2,276
12,141
759
-
15,176
-
225
1,200
75
-
1,500
150
-
-
-
150
-
3,813
20,337
1,271
-
25,421
-
-
-
-
-
-
-
1,048
5,588
349
-
6,985
-
3,541
18,884
1,180
-
23,605
-
631
3,367
211
-
4,209
-
-
-
-
-
-
-
366
1,951
122
-
2,439
-
1,851
9,870
617
-
12,338
4,564
-
-
-
-
4,564
-
-
-
-
-
-
-
518
2,760
172
-
3,450
-
296
1,576
98
-
1,970
-
982
5,240
-
-
6,222
-
399
2,126
132
-
2,657
-
789
4,210
264
-
5,263
-
3,068
16,363
1,023
-
20,454
-
412
2,197
137
-
2,746
-
-
-
-
-
-
-
1,182
6,304
394
-
7,880
4,564
74,559
516,034
24,475
6,648
626,280
-
700
5,948
-
(6,648)
-
2,576
21,899
(24,475)
-
4,564
77,835
543,881
-
-
626,280

Page 23

RAVENSBOURNE PROJECT (A Company Limited by Guarantee) Notes to the Financial Statements For the Year Ended 31 March 2024

18b. 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
2023
£
£
£
439,390
-
439,390
351,715
-
351,715
(56,444)
-
(56,444)
(219,105)
-
(219,105)
515,556
-
515,556

18c. 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
Expenditure
Transfers
At the end
of the year
£
£
£
£
£
500,790
641,046
(626,280)
-
515,556
500,790
641,046
(626,280)
-
515,556
500,790
641,046
(626,280)
-
515,556

Page 24