RELEASING
POTENTIAL
Releasin
Potential Limited
Annual Report of the
Trustees and Financial
Statements
For the year ended
31 August 2024
RELEASING
POTENTIAL

Executive Summary
At the start of the 2023-24 academic year, we introduced several new systems and structures
designed to strengthen our school and enhance the learning environment. These initiatives
marked an exciting step forward for Releasing Potential, allowing us to build on previous
guidance and establish a strong foundation for future growth.
In November, Ofsted visited and recognised the significant progress we had made in
addressing previous recommendations. They acknowledged the substantial improvements in
our systems and structures, which were well on their way to full integration. As a result of our
hard work and dedication, we achieved a higher rating in their assessment - a fantastic
milestone for our school I
March brought another significant development as we successfully restructured our Outdoor
Education provision, leading to the launch of our Alternative Provision. This expansion
enabled us to support even more students by catering for those registered at other schools.
In June, a follow-up Ofsted monitoring visit further highlighted our progress. Inspectors
praised the positive engagement of our students and the meaningful outcomes we are
achieving, reinforcing our commitment to continuous improvement.
We also made great strides in enhancing our facilities. By expanding classroom space at the
Havant Offices, centralising our financial administration team, and creating dedicated office
space for staff, we improved our operational efficiency. Additionally, the transformation of
the Emsworth Outboards building into an Alternative Provision Centre provided a dedicated
space for students in the programme, further strengthening our support for their education.
Through innovation, dedication, and teamwork, we continue to build a stronger, more
inclusive learning environment for all.
RELEASING
POTENnAL

Releasing Potential Ltd
August 2024 Year End
1nfo@releasingpotential.com
Contents
Charity information
Reflections by Chief Executive Officer
Objects and activities for the public benefit
Review of the year
3to5
Looking ahead
Financial results
Structure, governance and management
6t07
Statement of Trustees, responsibilities
7t08
Report of the independent auditors
9t012
Statement of financial activities
13
Balance sheet
14
Statement of cash flows
15
Notes to the financial statements
16to24
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Charity information for the year ended 31 August 2024
Trustees:
P Suter
D Carman-jones (appointed 10/02/2025)
E Eminson (resigned 07/10/2024)
S Garrett
M Honeychurch (resigned 20/10/2023)
P Jenkins
M King
M Lavington (appointed 10/02/2025)
P Stanway
Chief executive officer and company secretary:
MAKing
Registered office:
7 Kingscroft Court
Ridgway
Havant
Hampshire
P09 ILS
Registered number:
4622100 (England and Wales)
Registered charity number:
1097440
Independent auditor:
Scott Vevers Ltd
Chartered Accountants and
Registered Auditors
65 East Street
Bridport
Dorset
DT6 3LB
Bankers:
HSBC Bank PIC
118 Commercial Road
Portsmouth
Hampshire
POI IEP
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POTENnAL

Reflections by Chief Executive Officer
We were excited to move forward with developing the school in a way that truly reflected
the ethos of our practice while meeting Ofsted's requirements. Initially, we anticipated that
this process would take a year, but as we progressed, we recognised that to be truly
effective, a more extended timeline was necessary.
The newly established school management structure brought clarity and accountability by
designating specific staff members responsible for Safeguarding, Behaviour, and
Curriculum. This improved organisation has strengthened our ability to support students
effectively.
We are delighted with the expansion of teaching spaces, alongside enhancements in the
quality of our buildings. The implementation of Health & Safety-compliant systems has
ensured that we meet the expectations of all inspections. We now have the highest number
of indoor teaching areas we have ever had, providing high-quality learning environments.
Working with a School Improvement Partner has been an invaluable opportunity. Their
expertise in high-quality alternative provision has guided us through Ofsted's expectations
and helped us refine our approach. Their honest insights have deepened our understanding
of our methodology and encouraged reflective practice.
l am incredibly grateful to everyone who has contributed to this journey. The commitment
of our staff team, Trustees, and School Governors has been instrumental in ensuring our
children are well-equipped to contribute meaningfully to society.
Mike King, CEO, August 2024
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The Trustees who are also directors of the charity for the purposes of the Companies Act
present their report together with the financial statements of the charity for the year ended
31 August 2024 which are also prepared to meet the requirements for a directorfs report
and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association, and 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).
Objects and activities for the public benefit
The charity's objects as stated in the memorandum of association are:
(a) to advance the education of young people including those who may have special needs
or who are excluded from mainstream education in such ways as the Trustees may from
time to time think fit.
(b) to provide training to equip groups and individuals to provide education for young
people.
(c) to advance in life and relieve the social needs of young people through the provision of
recreational and leisure time activities provided in the interest of social welfare and support
and activities which develop their skills to enable them to participate in society as mature
and responsible individuals.
The objects are achieved through a variety of different methods. full time small group and
one to one SEN core provision, outdoor mentoring, sail training, residentials, short term
intervention projects and holiday activities. The activities we provide are sailing, canoeing,
kayaking, orienteering, navigation, climbing, abseiling, mountain biking, and various team-
building activities. On the residential programmes, young people participate in outdoor
activities as a personal and social development programme. In planning our activities for
the year, the Trustees kept in mind the Charity Commission's guidance on public benefit.
Review of the year
With the appointment of an interim Head Teacher at the end of the previous academic
year, we successfully embedded a new school management structure. In November 2023,
an Ofsted inspection recognised the strength of our practices, highlighting that "staff
develop warm professional relationships with children, staff constantly check what pupils
have learned and alter what they teach them next to build on and reinforce learning."
Our Ofsted ratings included:
Quality of Education- Good
Behaviour and Attitudes- Good
Personal Development- Good
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While Governance and Leadership were identified as areas requiring improvement, we
were encouraged by the recognition of our progress and commitment to enhancing our
structures, Health & Safety systems, and Governance effectiveness.
Following the inspection, we submitted an Action Plan to Ofsted, outlining key
improvements, including:
Expanding the number of Trustees
Establishing a School Governing Board
Providing Safeguarding training for staff and Trustees
Enhancing our website
Increasing the number of Designated Safeguarding Leads (DSLS)
Implementing Management Information Systems for Safeguarding, Curriculum,
and Student Data
While our initial proposal required further specificity to meet the Independent School
Standards, we took the opportunity to refine our approach. Throughout this process, we
maintained transparency with commissioning officers, who continued to support our
school by continuing all placements- a testament to their confidence in our abilityto deliver
high-quality education.
Physical Developments
Alongside operational improvements, we made significant physical developments:
Havant site:
Opened new classrooms and a charity office in Unit 8
Created a commercial-grade kitchen in Unit 7
Completed the installation of a climbing wall in Unit 9
Chichester site:
Established a new outdoor kit store
Blue Brew Café:
Installed new sheltered seating areas
The Farm:
Developed a new raised beds area
These developments have expanded our capacity, enabling us to provide even greater
support to our students.
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Monitoring Visit and Continued Progress
In June, Ofsted conducted a monitoring visit to assess our progress since the November
inspection. We were pleased that the Inspector recognised our improvements, confirming
that our practices were safe and encouraging us to continue on our current path. This
positive outcome allowed us to accept new student referrals and further expand our
capacity.
By the end of the academic year, we had:
Enrolled our largest cohort of students to date
Expanded our learning facilities
Established an Alternative Provision programme within the Outdoor Education
team
Achieved industry-standard compliance in multiple Health & Safety systems
Appointed a new Head of School
This academic and financial year presented challenges, but Releasing Potential has
emerged stronger. The groundwork laid this year sets a solid foundation for the future.
Looking ahead
Our next steps focus on three key areas:
Charity: Establishing our values across all services and ensuring that industry-
standard systems are embedded in our practices.
Outdoor Education: Expanding the Alternative Provision programme, increasing
staff capacity, and further developing our vision for outdoor education.
School: Continuing our journey toward full compliance with the Independent
School Standards, preparing for the next Ofsted monitoring visit, and supporting
our new Head of School in shaping the institution according to our core values.
With a clear vision and dedicated team, we are excited about the opportunities ahead. The
progress we have made this year positions us well for continued success and growth,
ensuring the best possible outcomes for the children we serve.
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POTENTIAL

Financial results
The statement of financial activities shows net incoming resources of £84,172 (2023:
£9,072). Reserves at 31 August 2024 were £975,974, including £815 restricted funds.
The principal source of funds continued to be amounts paid by schools and local authorities
for the services provided.
All staff at Releasing Potential, including key management personnel, are paid on a scale
which reflects a balance between outdoor industry and teaching profession levels. Pay
scales are reviewed annually and any changes are ratified by Trustees. Decisions on pay
increases for the Charity SLT are made directly by the Trustees. All Trustees give of their
time freely and no Trustee received remuneration in the year, in their capacity as a Trustee.
Reserves
The Trustees have established a policy whereby the unrestricted funds not committed or
invested in tangible fixed assets ('the free reserves,) held by the charity should be sufficient
to enable the charity to continue operating in the short term in the event of a significant
drop in funding. At the end of the year, reserves comprise:
Restricted funds for projects
£815 (to be spent over next 12 months)
Funds invested in fixed assets
£621,916
Free reserves
£353,243
Total
£975,974
Structure, governance and management
The charity is a company limited by guarantee and was incorporated on 19 December 2002.
It is governed by its memorandum and articles of association. The members of the company
who are also the directors and Trustees are named on page l. In the event of the charity
being wound up, the liability in respect of the guarantee is limited to £10 per member of
the charity.
The appointment of all Trustees is governed by the articles of association of the company
and new Trustees are recruited from those who are interested in and connected to work
with young people in the local community. New Trustees are given an induction pack
containing information on all aspects of the charity's affairs and are expected to visit the
office to meet staff and at least one project. Training is given as required, including sessions
for the whole Trustees, team.
The Trustees meet regularly throughout the year to review performance and set charitable
policy and strategy. They have appointed a School Governing Body to oversee the
'attendance, attainment, progress and safeguarding, of students within the school. Day to
day management is delegated to the chief executive, who line manages other staff.
ING
AL

The Trustees have carried out an assessment of the major risks to which the charity is
exposed and have put in place procedures and systems to mitigate these risks. The highest
potential risks identified that would have the biggest impact were:
Risk
School could fail to move up a
grade in the Ofsted judgement at
next inspertion
Controls
Extensive work on curriculum to improve outcomes and
evidence.
An effective School Governing Body
appointed, meeting termly and receiving external
training. H&S Officer appointed to oversee building
improvements.
Safeguarding practices to adopt
systems for staff and Trustees.
Established 2-year training programme of accredited
awards
Increased pay above industry levels across the board.
Increased annual leave entitlement to a level
comparable with colleges of FE.
Rigorous safeguarding systems in place throughout the
organisation. All staff trained with regular refresher
courses. Designated Safeguarding Leads appointed and
deputies will be in place and appropriately trained.
Safeguarding Trustee is in place and regular structured
meetings take place.
Difficulties recruiting and retaining
good quality staff limits capacity
Serious safeguarding incidents
could significantly impact referrals
and potentially close our provision
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Trustees, Report and the financial
statements in accordance with applicable law and regulations.
Company law requires the Trustees to prepare financial statements for each financial year.
Underthat law the Trustees have elected to prepare the financial statements in accordance
with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting
Standards and applicable law). Under company law the Trustees must not approve the
financial statements unless they are satisfied that they give a true and fair view of the state
of affairs of the charitable company and of the net movement in funds of the charitable
company for that year.
In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principals in the Charities SORP
make judgements and estimates that are reasonable and prudent.
state whether the policies adopted are in accordance with the Companies Act 2006
and with applicable accounting standards and statements of recommended practice,
subject to any material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient
to show and explain the charitable company's transactions and disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to
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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. The
Trustees are also responsible for ensuring that the assets are properly applied in
accordance with charity law.
Statement as to Disclosure of Information to Auditors
So far as the Trustees are aware, there is no relevant audit information of which the
charitable company's auditors are unaware, and each Trustee has taken all the steps that
he or she ought to have taken as a director in order to make himself or herself aware of any
relevant audit information and to establish that the charitable company's auditors are
aware of that information.
Auditors
The auditors, Scott Vevers Ltd, have signified their willingness to remain in office and a
resolution for their re-appointment will be proposed at the forthcoming annual general
meeting.
This report has been prepared in accordance with the small companies, regime under the
Companies Act 2006.
On
ehalf of the board
P Suter- Trustee
Date: 19 May 2025
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Report of the independent auditors to the Trustees of Releasing
Potential Limited
Opinion
We have audited the financial statements of Releasing Potential Limited (the 'charitable
company,) for the year ended 31 August 2024 set out on pages 13 to 24. The financial
reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in
the UK and Republic of Ireland (U nited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements
give a true and fair view of the state of the charitable company's affairs as at 31 August
2024 and of the incoming resources and application of resources, including its income
and expenditure, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepared in accordance with the Charities Act 2011.
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 Auditor's responsibilities for the audit of the financial statements section of our
report. We are independent of the charitable company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including
the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAS
(UK) require us to report to you where:
the Trustees, use of the going concern basis of accounting in the preparation of the
financial statements is not appropriate. or
the Trustees have not disclosed in the financial statements any identified material
uncertainties that may cast significant doubt about the charitable companws ability to
continue to adopt the going concern basis of accounting for a period of at least twelve
months from the date when the financial statements are authorised for issue.
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10
Other information
The Trustees are responsible for the other information. The other information comprises
the information included in the Trustees, annual report, otherthan the financial statements
and our auditorfs 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.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its
environment obtained in the course of the audit, we have not identified material
misstatements in the directors, report.
We have nothing to report in respect of the following matters to which the Charities Act
2011 requires us to report to you if, in our opinion:
the information given in the financial statements is inconsistent in any material respect
with the Trustees, Annual Report. or
the charitable company has not kept adequate accounting records. or
the charitable company financial statements are not in agreement with the accounting
records and returns; or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Trustees, Responsibilities Statement set out on pages 7 and
8, the Trustees (who are also the directors of the charitable company for the purposes of
company law) 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 the Trustees
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
charitable companws ability to continue as a going concern, disclosing, as applicable,
matters related to a going concern and using the going concern basis of accounting unless
the Trustees either intend to liquidate the charitable company or to cease operations, or
have no realistic alternative but to do so.
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11
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report
in accordance with regulations made under section 154 of that Act.
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 auditorfs 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 is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as
follows:
the engagement partner ensured that the engagement team collectively had the
appropriate competence, capabilities and skills to identify or recognise non-compliance
with applicable laws and regulations;
we identified the laws and regulations applicable to the charity through discussions with
Trustees and other management, and from our commercial knowledge and experience of
the charity sector;
we assessed the extent of compliance with the laws and regulations identified above
through making enquiries of management; and
identified laws and regulations were communicated within the audit team regularly and
the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material
misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to
fraud, their knowledge of actual, suspected and alleged fraud. and
considering the internal controls in place to mitigate risks of fraud and non-compliance
with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships.
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting
estimates were indicative of potential bias. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we
designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation
reading the minutes of meetings of those charged with governance;
enquiring of management as to actual and potential litigation and claims.
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12
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 auditor's
report.
Use of our report
This report is made solely to the charitable companws Trustees, as a body, in accordance
with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has
been undertaken so that we might state to the charitable company's members those
matters we are required to state to them in an auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibilityto anyone
other than the charitable company and the charitable company's Trustees as a body, for
our audit work, for this report, or for the opinions we have formed.
Scott Vevers Ltd
65 East Street
Bridport
Dorset. DT6 3LB
Chartered Accountants and Registered Auditors
Date: li Ic)s Ill
Scott Vevers Ltd is eligible to act as auditor in terms of section 1212 of the Companies Act
2006.
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RELEASING POTENTIAL LIMITED
13
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Notes
Total
Funds
2024
Total
Funds
2023
Unrestrirted Restricted
funds
funds
Incoming resources
Incoming resourcesfrom generatedfunds..
Donations and similar sources
5,883
5,883
132
Charitable activities..
Grants received for activities
Fees charged for activities
22,000
22,000
1,862,375
2,500
1,882,681
1,862,375
Investment income
8,977
8,977
5,692
Total incoming resources
1,877,235
22,000
1,899,235
1,891,005
Resources expended
Costs of generating funds
Charitable activities..
Educational activities
318
318
30,494
1,793,060
21,685
1,814,745
1,851,439
Total resources expended
1,793,378
21,685
1,815,063
1,881,933
Net movement in funds
83,857
315
84,172
9,072
Reconciliation of funds
Total funds at I September 2023
891,302
500
891,802
882,730
Total funds at 31 August 2024
975,159
815
975,974
891,802
Changes in Resources Applied for Fixed Assets for Charity Use
Net movement in funds
Net resources invested in fixed assets
84,172
(54,731)
29,441
9,072
(179,434)
(170,362)
Funded by reserves and other funding sources
All amounts derive from continuing activities.
All gains and losses recognised in the year are included in the statement of financial activities.
The notes on pages 16 to 24 form part of these financial statements
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RELEASING POTENTIAL LIMITED
14
BALANCE SHEET
AS AT 31 AUGUST 2024
Notes
2024
2023
Fixed Assets
Tangible assets
Investments
621,916
668,527
10
10
621,916
668,537
Current assets
Stocks
Debtors
Cash at bank and in hand
11
12
794
114,152
306,537
7,524
46,276
422,379
421,483
476,179
Creditors: Amounts falling due within one
year
13
(67,425)
(252,914)
Net current assets
354,058
223,265
Net Assets
975,974
891,802
The funds of the charity:
Restricted income funds
14
815
500
Unrestricted income funds:
14
975,159
891,302
Total charity fvnds
975,974
891,802
These financial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime under the Companies Act 2006. The directors acknowledge their
responsibilities for complying with the requirements of the Companies Act 2006 in respect of accounting records
and preparation of accounts.
Whilst the company is exempt from audit under Section 477 of the Companies Act 2006 relating to small
companies and the members have not required an audit under section 476 of the Act, the company is subject to
audit under the Charities Act 2011.
The financial statements were approved by the board on 19 May 2025.
Mr P Suter- Trustee
The notes on pages 16 to 24 form part of these financial statements
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RELEASING POTENTIAL LIMITED
15
STATEMENT OF CASH FLOWS
AS AT 31 AUGUST 2024
Notes
2024
2023
Cash flow from operating activities
17
97,822
152,574
Cash flow from investing activities
Payments to acquire tangible fixed assets
Receipts from sales of tangible fixed assets
Investment income received
(54,731)
14,812
8,977
(179,434)
10,767
5,692
Net cash flow from investing activities
(30,942)
(162,975)
Cash flow from financing activities
Repayment of long term loans
Interest paid
(180,861)
(1,861)
(18,965)
(11,709)
Net cash flow from financing activities
(182,722)
(30,674)
Net increase / (decrease) in cash and cash equivalents
(115,842)
(41,075)
Cash and cash equivalents at I September 2023
422,379
463,454
Cash and cash equivalents at 31 August 2024
306,537
422,379
The notes on pages 16 to 24 form part of these financial statements
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RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
16
l General information
Releasing Potential Limited is a charitable company, limited by guarantee, incorporated in England and Wales
under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in charity
information on page l. Details of the Charitvs operations are provided in the Annual Report of the Trustees.
2 Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements are as follows:
2.1 Basis of preparation
The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been
prepared on a going concern basis, under the historical cost convention 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 2019 (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102), the Companies Act 2006 and the Charities Act 2011.
2.2 Accounting convention
The financial statements have been prepared on a going concern basis as the Trustees believe that no material
uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and
expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure
is sufficient with the level of reserves for the Charity to be able to continue as a going concern.
2.3 Income
All income is included in the statement of Financial Activities when the Charity is legally entitled to the funds,
any performance conditions attached to the income have been met, it is probably that the income will be
received and the amount can be measured reliably.
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date.
In the event that a donation is subject to conditions that require a level of performance before the Charity is
entitled to the funds, the income is deferred and not recognised until those conditions are fully met. Gift aid is
recognised in the period trading subsidiaries have made an irrevocable commitment to pay their taxable profits.
When donors specify that donations and grants, including capital grants, are for particular restricted purposes,
which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of
restricted funds when receivable.
2.4 Expenditure
Liabilities are recognised on the accruals basis. Expenditure is recognised in the period in which it is incurred and
includes any attributable VAT which cannot be recovered. Costs which are identified as relating to restricted
activities are allocated directly to those activities. Costs which relate to the general running of the Charity are
allocated against unrestricted funds, and within the statement of financial activities these expenses are shown as
costs of generating funds and costs in furtherance of charitable objects. An apportionment of certain costs has
been carried out on the basis of time spent by staff on the various activities.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets costing more than £500 are capitalised at cost. Depreciation is provided at rates calculated
to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Freehold buildings
equal annual instalments over 50 years
Boats
equal annual instalments over 5 to 10 years
Plant and machinery
25Yo on reducing balance
Motor vehicles
25Yo on reducing balance
Fixtures and office equipment
25Yo on reducing balance
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
2.6 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes
all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and
condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and
slow-moving stock where appropriate.
17
2.7 Restricted and designated funds
Restricted funds are funds subject to specific conditions imposed by donors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the accounts.
The net book value of fixed assets at each year end not subject to mortgage or other loans is shown as a
separate designated fund.
2.8 Leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.
2.9 Pension contributions
The Charity contributes to individual staff personal pension plans in accordance with their contracts of
employment. Contributions payable for the year are included in the Statement of Financial Activities.
2.10 Taxation
The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to
pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a
charitable company for UK corporation tax purposes.
2.11 Financial instruments
Classification
Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual
provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets
of the Charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except
for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value
(which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a
financing transactions. If an arrangement constitutes a financing transaction, the financial asset or financial
liability is measured at the present value of the future payments discounted at a market rate of interest for
similar debt instruments.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there
exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a
net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the
financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and
rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all,
significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or
expires.
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18
3 Donations and similar income
Unrestricted Restricted
funds
funds
2024
2023
Donations
5,883
5,883
132
5,883
5,883
132
4 Grants received for activities
Unrestricted Restricted
funds
funds
2024
2023
Foyle Foundation
Maurits Mulder Canter Charity
Oakmoor Charitable Trust
Tesco Community Grant
2,000
2,000
2,000
20,000
20,000
500
22,000
22,000
2,500
5 Investment income
Unrestricted Restricted
funds
funds
2024
2023
Bank interest
Rents received
7,957
1,020
7,957
1,020
4,972
720
8,977
8,977
5,692
6 Costs of raising funds
Unrestricted Restricted
funds
funds
2024
2023
Emsworth Outboards
Web site and other promotional costs
30,166
328
318
318
318
318
30,494
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
19
7 Expenditure on charitable activities
Unrestricted Restricted
funds
funds
2024
2023
Staff costs inc. training
Direct costs
Support costs
Governance costs
1,362,208
186,528
229,837
14,487
1,362,208
208,213
229,837
14,487
1,814,745
1,414,220
224,234
195,962
17,023
1,851,439
21,685
1,793,060
21,685
Unrestricted Restricted
funds
funds
2024
2023
Staff costs
Employee costs
Recruitment
Training
Clothing
Other staff costs
Subcontractors and external provision
1,308,073
3,669
7,312
2,207
650
40,297
1,362,208
1,308,073
3,669
7,312
2,207
650
40,297
1,362,208
1,289,908
1,957
18,288
3,722
1,149
99,196
1,414,220
Direct costs
Activity costs and equipment
Boat costs
Insurance
Motor and travel costs
Depreciation
(Profit)/loss on sale of assets
56,011
10,603
21,725
54,112
43,580
497
21,685
77,696
10,603
21,725
54,112
43,580
497
99,360
9,090
19,669
51,707
48,016
(3,608)
224,234
186,528
21,685
208,213
ort costs
Property costs
Office costs
Finance charges and interest
154,249
73,727
1,861
154,249
73,727
1,861
125,049
59,204
11,709
229,837
229,837
195,962
Governance costs
Auditor's remuneration
Professional fees
Other governance costs
5,818
2,318
6,351
14,487
5,818
2,318
6,351
6,402
8,266
2,355
14,487
17,023
Outgoing resources includes:
Operating lease payments
property
other
75,741
7,922
73,112
5,650
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
20
8 Employee costs
No remuneration or expenses were paid to Trustees in the year (2023: £nil). The costs of the remaining staff
employed by the Charity were:
2024
2023
Wages and salaries
Social security costs
Pension costs
1,137,434
97,907
72,732
1,135,227
102,823
51,858
1,308,073
1,289,908
During the year, l employee earned more than £60,000 (2023: 1). The average full time equivalent number of
staff employed during the year were as follows:
2024
No
30.33
6.78
1.05
38.16
2023
No
33.25
6.74
0.53
40.52
Operational
Support
Governance
The average number of staff employed by the Charity (Headcount)
42.67
47.30
9 Tangible fixed assets
Fixtures &
office
equipment
Freehold
Property
Plant &
Machinery
Motor
vehicles
Boats
Total
Cost
At I September 2023
Additions
Disposals
At 31 August 2024
612,226
24,770
32,238
(19,675) (21,682)
592,551
35,326
137,443
11,803
(11,454)
137,792
103,427
5,250
(3,240)
105,437
58,596
5,440
(5,663)
58,373
936,462
54,731
(61,714)
929,479
Depreciation
At I September 2023
Charge for the year
Eliminated on disposals
At 31 August 2024
62,475
10,491
5,272
7,065
(3,952)
8,385
83,046
13,692
79,734
6,430
37,408
5,902
267,935
43,580
(3,952)
307,563
72,966
96,738
86,164
43,310
Net book value
At 31 August 2024
519,585
26,941
41,054
19,273
15,063
621,916
At 31 August 2023
549,751
19,498
54,397
23,693
21,188
668,527
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21
10 Fixed asset investment - Charity
2024
2023
Company
Number
Shareholding
10626819 Ordinary shares of £1 each
Wholly owned subsidiary company
Releasing Potential Enterprises Ltd
10
10
The company holds IOOYO of the issued share capital of all subsidiary companies. Releasing Potential Enterprises
Ltd ceased trading on 31 August 2023 and the company was dissolved on 7 January 2025.
11 Stocks
2024
2023
Goods for resale
794
7,524
12 Debtors: amounts falling due within one year
2024
2023
Operational debtors
Other debtors and prepayments
8,668
105,484
114,152
72
46,204
46,276
13 Creditors: amounts falling due within one year
2024
2023
Repayments due on bank loans
Operational creditors
Social security and other taxes
Other creditors and accruals
180,861
23,476
21,996
26,581
252,914
23,939
21,475
22,011
67,425
The bank loan is secured by a legal charge over the freehold properties, together with a fixed and floating charge
over all the other assets of the Charity. The book value of the freehold properties at 31 August 2024 was
£519,585. The mortgage was fully redeemed on 19 September 2023.
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14 Funds
22
Balance at
Incoming
I September resources
2023
Resources
expended
Balance at
31 August
2024
Transfers
2024
Restricted income funds
Equipment Grant
Sailing Programme
500
2,000
20,000
22,000
(1,685)
(20,000)
(21,685)
815
500
815
Unrestricted income funds
Designated fixed asset reserve
General fund
487,666
403,636
891,302
134,250
(1,793,378) (134,250)
(1,793,378)
621,916
353,243
975,159
1,877,235
1,877,235
Total funds
891,802
1,899,235
(1,815,063)
975,974
Balance at
Incoming
I September resources
2022
Resources
expended
Balance at
31 August
2023
Transfers
2023
Restricted income funds
Capital Grants
Equipment Grant
Sailing Programme
700
2,000
500
(2,700)
500
23,616
24,316
(23,616)
(26,316)
2,500
500
Unrestricted income funds
Designated fixed asset reserve
General fund
343,741
514,673
858,414
143,925
(143,925)
487,666
403,636
891,302
1,888,505
1,888,505
(1,855,617)
(1,855,617)
(1,881,933)
Total funds
882,730
1,891,005
891,802
(a) Grants were received from private trusts to fund specific programmes in outdoor leadership and sailing.
(b) The balance on the designated fixed asset reserve represents the net book value of fixed assets financed by
Charity reserves.
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15 Analysis of net assets between funds-
23
Unrestricted Designated
funds
funds
Restricted
funds
Total
funds
2024
Tangible fixed assets
Investments
Net current assets
621,916
621,916
353,243
353,243
815
815
354,058
975,974
621,916
Unrestricted Designated
funds
funds
Restricted
funds
Total
funds
2023
Tangible fixed assets
Investments
Net current assets
668,527
668,527
10
223,265
891,802
10
403,626
403,636
(180,861)
487,666
500
500
16 Operating lease commitments
At 31 August 2024 the Charity has future minimum lease commitments as follows:
Property
Other
Total
Not later than l year
Later than l year and not later than 5 years
Later than 5 years
54,176
82,311
29,875
166,362
6,602
17,329
60,778
99,640
29,875
190,293
23,931
17 Reconciliation of net income to net cash flow from operating activities
2024
2023
Net income for the year
84,172
9,072
Investment income receivable
Interest payable
Depreciation and impairment of tangible fixed assets
(Profit) / loss on disposal of tangible fixed assets
Loss on disposal of fixed asset investment
VAT claimed on pre~registration fixed asset costs
(Increase) / decrease in stock
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash flow from operating activities
(8,977)
1,861
43,580
497
10
42,453
6,730
(67,876)
(4,628)
(5,692)
11,709
48,016
(3,608)
20
3,010
92,886
(2,839)
97,822
152,574
RELEASING
POTENTIAL

RELEASING POTENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18 Financial Instruments
Categorisation of financial instruments
24
2024
2023
Financial assets that are debt instrument measured at amortised costs
322,909
538,156
Financial liabilities measured at amortised costs
67,425
252,914
Items of income, expense, gains or losses
The total interest income for financial assets not measured at fair value through profit or loss is £7,957 (2023:
£4,972).
19 Defined contribution pension scheme
The Charity operates a defined contribution pension scheme. The pension cost charge for the period represents
contributions payable by the Charity to the scheme and amounted to £72,732 (2023: £51,858).
There was £11,804 (2023: £8,182) outstanding contributions at the end of the financial year.
20 Related party transactions
No Trustee has received any remuneration, expenses or benefits from the Charity during the year, in their
capacity as a Trustee.
Mr M King (Trustee) was employed during the year as the Chief Executive Officer and his salary is included in
note 8. Mr M King abstained from any decisions related to his employment.
Mr P Stanway's (Trustee) son Mr D Stanway was employed during the year and his salary is included in note 8.
Mr P Stanway abstained from any decisions related to his employment.
RELEASING
POTENTIAL