REGISTERED COMPANY NUMBER: 03693499 (England and Wales) REGISTERED CHARITY NUMBER: 1115990 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR B:RAP LTD HB&O Ltd Chartered Accountants and Statiitory Auditor Highdown House I l Highdowi Road Leamington Spa Warwickshire CV31 IXT
B:RAP LTD CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 202$ Page Report of the Trustees Report of the Independent Auditors Statement of Financlal Aetlvities Balance Sheet 9 to 10 Cash Flow Statement Notes to the Cash Flow Statement 12 Notes to the Flnanclal Statements 13 10 20 Detailed Statement of Financlal Actlvltles 21 10 22
B:RAP LTD REPORT OF THE TRUSTEES for the year ended 31 March 2025 The trustees who are also directors of the charity for Il)e purposes of the Coinpanies Act 2006, present their report with thc financial statcmcnls of thc chlL rity for thc ycar cndcd 31 March 2025. Thc trustccs havL adoptcd thc provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in a¢cordan¢¢ with th¢ Financial R¢porting Standard applicable in die UK and R¢publi¢ of Ireland (FRS 102) (effective l January 2019). Thc Trustccs who arc also dircctors of thc charity for thc purposcd of thc Companics Act 2006, prcscnt thcir rcport with the financial statements of the charity for the year ended I l March 25. About B:RAP B-RAP is a charity transforming thc way in which wc think about and do cquity work. Last ycar, our 25th Ycar of incorporation as a charity we launched our new manifesto Di'eams and Schemes and in this trustee report, our intei)tion is to report against its ambitions as we seek to increase our iinpact on discrimination. The four pillars of our new strategic plan, 'Dreams and Schemes,. are Ener%y ? Insight, Independence and Ambition. Wc havc aligncd a sclcction of our work during 24125 with thcsc new stratcLFic objcctives to gyivc readers to get a scnsc of how w¢ bring thes¢ aspirations to life through ow work. OBJECTIVE ONE - EIYERGY is about the opportunity to create diff¢rcnt/n¢w narratives about equity that resonate with pcoplc. Wc rccognisc tlial Ilicrc is oftcn a lack of ciilliusiasm about CqLiality - it is vcry much a tick box rcquircmcnt rathcr than a passionate bcli¢f that what w¢ do can mak¢ an impact on pcople's Iiv¢s. EquAllty Republle - This is a movcmcnt of individuals and orgyanisalions who havc an anibition to livc in a socicty whci'c cquality is a rcalily aiid has gyrcatcr inipactlmcaningi in our livcs. Il is owncd by ils 192 mcmbcrs. Last ycar Ilie RLpiiblic hosicd 8 cvcnts.. Amal Azziidin's journcy Ihiiinan rigyhls camp¢ligFiicrl, 2 wcbiiiars hoslcd by Robiii Di AngFcIo {Facilil<ilin&i anli-racisni and Anti-racisl org?anisalionsl, Too Hol to Haiidlc w¢binar, b'.rap's r¢flc¢lions on anli-racisin facililalion, ConncclEd (a projcct lo dcvclop bclil¢viour managicmcnt rcsourccs for schools), ali liilroduclion lo anti-racisin woi-kshop, and an Anli-blackncss discussion for Black and Fjrown individuals. Booteamp - Olir aiili-racist bootcainps arc giainingy a Icgicndary rcpiilalioii in Ilic Inai-kcl placc. Last ycar's boolcamp was PIL I'ti¢uliL rly fL1bulous. Wc wcrc abl¢ lo by¢l accoinn)odalion spoiisor¥d by Birn)iiigyhLilll City Univcrsily and had 53 pcoplc attciid iii pcrson. Thc focus ot thc bootcamps is about intcnsc pcrsonal and skill dcvelopmcnl. Equity Unpaeked- Wc dcviscd and advcrtiscd our first Equity Unpackcd prograniinc, aimcd al individuals who hold an Equality, DivLr8ily and Inclusioii rolc or porifolio. Tlic purposc of Ilic 6-day progirammc is lo rcvicw thc approach lo EDI, and 10 think critically about what impact means, how il Is created, and the role of the EDI practitioner in facilitating progress in the area of EDI. Our intcntioii would be to repeat the prograinme in 24125. OBJECTIVE TWO INSIGHT - This objective is very miich about b.'rap's commitment to continiie to learn and cnib()dy ncw pracliccs. Our coinmilincnl lo ihc praclicc of proccss-oi-iciilcd psycholc)gy is a corc parl of ihis objceliv¢ and, in addition, this year we intend to build on our systems change work, including human system design. Our skill sets create iinportant opportiinilies for the brap tearn to connect and to inaintain our relevance, and to give us an edge to workin&7 in this space. InsiL,ht is also abolit hclpingJ our partners and collaborations cut through soine of the coinplexities of equality work by providing meaningful guidance. One of the ways we aim to achieve this objective is by strengythening our social media and online presence lo better reach and eiigage our aiidience. Receiitly, we made the decisioii to leave Twitterlx due to coiicerns over its directioii. Howcvcr, ¢v¢n b¢forc this, wc wcrc alrcady i-casscssing how bcsl to coniicct witli thos¢ who n¢cd our support. Wc arc now focusing more on LinkedIn, where we can engage directly with professionals and organisalions. In Oct 2024_ Posted a video about Too Hot to Handle. About 7,600 impressions, plus discussion in the comments In Novcmbcr 2024 - Postcd a blog in which wc discuss tcrn]inology around 'rac¢'. About 1,800 imprcssions Iii Dec 24 - Posted about the 'subtle' ways EDI professionals are undem)ined (e.g. leaders setting expectatioiis too l)igh). Pi'esented b-rap development prograll]me 'Equity Unpacked, as a solution. About 2,500 impressions, plus discussion generated in cornments Page I
B:RAP LTD REPORT OF THE TRUSTEES for the year ended 31 March 2025 Just some feedbaek on the website: o in th¢ last year (i.¢. March 24 to March 25), w¢'v¢ had over 50,000 visitors to the b.'rap site o About 18,000 people have viewed the Too Hol to Handle page. It is still the most visited page on our sile, getting about l 00-120 visits a w¢¢k o Apart from Too Hot to Handle, our most popular blogs this last financial year have been.. diis post about the riots.. Mvw.b.'rap.org.uklposVth¢-i-¢¢¢nt-riots-ar¢-a-wak¢-up-call this post from 2020, whcrc wc talk abolit our antiracism support.. www.b'.rap.org.uk/post/anti-racist-learning-thinking-and-practice this post which contains our subinissioii lo Parliaineiil, argiiiiig race eqiiality is lii)ked to incivility. which is linked to patient safety.. www.b.'I'ap.org?.uk/postlnhs-leadei'ship-performance-and-patient-safety OBJECTIVE THREE INDEPENDENCE This objective is about creatingT co-conspirators in this work. People who can show up in how they us¢ opportunities to cr¢ate ¢quity, but also those who take accountability for it. Oxfam - We have had a long-t¢rn] partnersliip with Oxfani who ask¢d us to b¢ th¢ir learning partner as the organisalion rcposilioncd tlicir equalitics agicnda. Thcir work has bccn very edgy and involved Ihc organisation thinkingJ critically about thcir worldwide relationships and puttingy in placc stratcgyics to dccolonisc thcsc, as wcll as thcir inlcrnal woi'k and relationships. WL l)avc dirccily siipporlcd ihcir cqualitics tcain, l)clpcd will) thc slralcLyic po8ilioning of this work, offcrcd coacliingy and devclopiiicnt, aiid also offcrcd input into Ilicii. slralcg¥ics. As thc parlncrsliip is drawingi to a natural conclusion, w¢ ii)lend lo do sonie evaluation to review the last 5 years. Royal Free - Our partncrship with Ihc Royal Frcc commcnccd l years ag70, when thc or&Fanisc1tion dccidcd that Ihcy waiilLd 10 coinmil 10 anti-racism. Wc havc run a iiumbcr ol. progFrainmcs tor this orgJanisatioii, iiicludiiig progJi'aniincs tor wliile Icadci-s and also for gylobal majority staff. As wc have undci'takcn a sig7nificant aiiiount of work willi thc Royal Frcc, wc arc kccn to cvaluatc our cfforls aiid arc undcrtakii)&y a longyitudiiial cvaluation to undcrstaiid morc about our collcctivc iinpact. Comlc Rellef - Comic Rclicf has bccn an activc partncr, duc 10 thcir commitmcnt 10 bccomc an anli-racist organisaiion. Tliis has involvcd workinbi with Ilicir scnior managiciMcnt tcam on thcir Icadcrship of anti-racism and how thcsc cfforts can show up practically iii thcir work. Kln%'s Fund - We have a developing partnership with the King's Fund, which holds within it their desires to be more awarc of racc incquality and its iimpact, givcii Ilicir missioii lo tacklc health incqualilics. Wc havc also dcvclopcd a co-dclivcrcd progyrainmc callcd Activatc, bascd on b.'rap's work on anti-racism. Board work - Wc have dclivcred many sessions to boards to support board undcrstandingi, includingv an undcrstanding of impact in relation to EDI and to think more critically about the board's role in being accountable for progress. Wlth:Stand This is a positive action programme to support individuals who are racialised as Rlack or Brown lo think about ihcir skills and carcLr trajcclory. This is iiol a rcmcdial progyrainmc il docs iiol pailiologiisc individuals- but recognises and supports them to understand how systemic racisin might get in the way of their ainbilions and what they might do aboiil it. The progran]me lias excellent evaluation data and participaiits have found their attendance m¢aningful, boili pcrsonally and profcssionally. OBJECTIVE FOUR - AMBITION - Our ambitions around ¢quity hav¢ hit an all-tim¢ low and arc vciy much linkcd to our first strategic objective 'energy'. Without understanding what we need to be arnbitious about and what can poteiilially shift and cliange because of tliis ambition, equality becomes a perfonnative sport with prizes for what we are able to do - not what we are able to changye. Barrow Cadbury Trust - Breaklng the Cycles This is work that is local to BirmIn]am, designed to illuminate the intersect of poverty and race, and is part of Barrow Cadbury's Economic Justice programme. Camden Giving - We have been working with Camden Giving who have been piloting a new way of thinking about, assessing and making decisions on grant funding. This has been an excellent piece of work, reflecting the aspirations of both Camden Giving and b'.rap. Page 2
B:RAP LTD REPORT OF THE TRUSTEES for the year ended 31 March 2025 Impact on Urban Health - We have completed a year's worth of work with IOUH, who work primarily to address health inequality ii) tl)eir local area. This organisation asked b'.rap to review their understanding and Use of power qiiestion that is rarely asked by organisations who are positioned to be of help to others. Implicit in their question was a critical interrogation of how they use their resources to support their local community. This was a challenging inquiry and wc hopc that it has Icft loUH bcttcr ablc to qucstion what Ihcy arc doing and why thcy arc doing it. SAFE - The SAFE prograinmc is dcsigncd to support Icachcrs to undcrstand how Ihcy can rcducc thc cxclusion pattcrns of Black children and develop relationships which enable them to Stay in school and succeed. The output of this project will be teacher r¢sour¢¢s, which include videos of young people, t¢ach¢rs and parei)ts about their ¢xp¢ri¢nc¢s in the systcm, in an aitcmpt to bring thcsc cxpcricnccs to lifc and promolc changc. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Thc charity is controllcd by its govcrning documcnt, a dccd of trust, and consiitutcs a limilcd company. limitcd by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 01693499 IEngTland and Wales) Reglstered Charlty number 1115990 Reglstered ol¢e Tlic Miisclcy ExchaiibFC Ofticc 8 149_153 Alccstcr Road Biriiiingyliam B138JP Trustees Ms M Coniielly l Dchal (rcsibFn¥d 3.9.2()25) Ms K (irccnbaiik Ircsigncd 5.4.2024) C J Harris Di. S Hussain (rcsibyncd 21.3.2025) A P Joncs Ms N Klinc Ms M C Tomlinson (resigned 21.3.2025) A S Williams (rcsigiied 27.8.2025) Ms. A T Barbosa Richards (appoiiited l O.11.2024) Ms A M Burns (appointed 22.9.2024) M S Eav¢s-S¢¢l¢y {appoint¢d 22.9.2024) Ms D Ohai (appointed 18.11.2024) Audltors HB&O Ltd Cliartcr¢d Accountants and Statutory Aiidilor Highdowi House I l Highdowii Road LeamingJton Spa Wanvickshire CV31 IXT TRUSTEES, RESPOINSIBILITY STATEMENT The trustees (who are also the directors of B'.rap Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unitcd Kingdom G¢n¢rally Acc¢pt¢d Accounting Practicc). Page 3
B:RAP LTD REPORT OF THE TRUSTEES for the year ended 31 March 2025 TRUSTEES, RESPOI¥JSIBILITY STA TEMENT - continued Company law requires the tLUStees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practicc (Unitcd Kingdom Accounting Standards and applicablc law). Under company law th¢ trust¢¢s must not approve th¢ financial stat¢m¢nts unless they are satisfi¢d that they give a In]e and fair vicw of thc statc of 1¢ ffairs of Ihc charitablc coinpany and of the incoming rcsourccs and application of resources, including the income and expenditure, of the charitable company for that period. In pi'epai'ing those financial statemei)ts, the trust¢¢s are r¢quir¢d to select suitable accounting policies and then apply them consistently; obscrvc thc mcthods and principlcs in Ihc Charitics SORP; make judgements and estimates that are reasonable and prudent; prcparc thc tinAI)cial slatcn)¢nts on the going concern basis unless it is inappropriate 10 presume that the cliarilable coiiipany will coiitinuc in busincss. Thc trustccs are rcspoi)siblc for kceping propcr accounting records which disclosc with rcasonablc accuracy at any lime thc financial position of the charitablc company and to cnablc thcni to cnsurc that thc financial statcnicnts coinply with th¢ Compaiii¢s Act 2006. They arc also rcsponsibl¢ for saf¢guarding th¢ asscls of th¢ charilabl¢ compaiiy and li¢nc¢ for taking? rca50nablc stcps foi- Ilie prcvcnlion and dctcction of fraud and otlici- iri-cg?Ii11c rilics. lii so far as tlic trustccs arc awarc: there is no relcvant audit intormation of which thc charitable compaiiy's auditors are unaware; ai)d thc trustccs havc takcn all stcps Ilial Ihcy ought to havc takcn to makc thcmsclvcs awarc of any rclcvaiit audit information and to ¢stablish Ilial thc auditors arc awarc of that iiifornialion. AUDITORS Tlic auditors, HB&O Lid, will bc proposcd for rc-appoiiilincnl al Ihc forthcoining Annual Gcncral Mccting. Approvcd by ordcr of thc board of trustccs on and sigincd on its bchalf by.. Ms M Connelly - Trustee Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF B:RAP LTD Opinion Wc havc auditcd thc financial statcmcnts of B'.rap Ltd (thc 'charitablc company,) for Ihc ycar cndcd 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the finai)cial stateinei)ts, including a suinmary of significant accounting policies. The financial reporting framework that l)as bccn applicd in thcir prcparalion is applicablL law and Uniicd Kingdom Accounting Standards (Unitcd Kingdom Generally Accepted Accounting Practice). In our opinion the financial slalements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming rcsourccs and application of rcsourccs, including its incomc and cxpcnditurc, for thc ycar Ihcn cndcd. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been pr¢par¢d in accordance with the requirements of the Coinpanies Act 2006. Basis for opinion Wc conducicd our audit in accordancc with Intcrnational Standards on Auditing (UK) (ISAS (UK)) and applicablc law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the finai)cial slatcinci)ts scction of our rcport. Wc arc ii)dcpcndciil of Il)c charitabl¢ compAI)y iii accordancc with Ili¢ cthical rcquii'LnicnlS that arc rclcvant to our audil of the financi411 slalcincnts in the UK, incliidingy tlic FRC'S Eihic(Il Stcindard, and we hav¢ lfIlled our oth¢r etl)i¢al responsibilities in accordance with Ili¢s¢ requirements. We b¢li¢ve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to Rolng concern In auditing) Ihc financial statcincnls, wc hav¢ concluded that the trustees, use of the goingF concern basis of accounting in the preparation of tlie financial slalemenls is appropriate. Rased on the work we have performed, we have not identified any matei'ial uncertainties relating to events or conditions that, iiidividiially or collLctivcly, may cast sig¥nitiLant dolibt oli IIIL chai'ilablL conipaiiy's ability 10 contiiiuc as a gyoiiig concern for a pcriod of al Icasl twelve moiiilis froin whcn Ilic financial slalcmcnts arc authoriscd for issuc. Oiir rcsponsibiliiics and Ihc rcsponsibilitics of thc trustccs with rcspcct to going concern arc dcscribcd in Ihc rclcvant scclions of this rcport. Other Snformatlon Tlic triistccs arc rcsponsiblc for thc oihcr iiiformalion. Thc otlicr iiiforinalioii coinpi'iscs Ilic informic tion includcd in the Aiiiiual Report, othcr Ilian thc financial statcincnls and our Rcporl of thc Indcpciidciil Auditors Ilicrcon. Our opinion on thc financial Slaicmcnts docs not covcr the olhcr information and, cxccpl to the cxlcnt othcnvise cxpliciily slalcd in our rcport, wc do not cxprcss any form of assurancc conclusioii Ihcrcon. lii coiincction with our audit of the fiiiancial statcmcnts, our responsibility is to read Ihc oilicr information and, in doing so, consider whctlicr Ihc other information is inatcrially inconsistcnt with thc financial statcnicnts or our knowlcdgie obtained in the audit or othenvise appear5 to be materially misstated. If we identify such material inconsistencies or apparcnl malLrial misslalcinciils, wc arc rcquii-cd lo dclcnninc wliciliLr this givcs i-isc to a malcrial misslalcni¢iil iii th¢ financial stlLtcin¢nts thcmsclvcs. If, blLscd on th¢ work we havc pcrformcd, we concludc that thcre is a niatcrilL I misstatenient of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on whlch wc are rcqulrcd to rcport by cxccptlon Wc liavc notliiiiby to r¢port in rcspL¢t of the following inaltcrs wli¢r¢ thc Chariti¢s {Accoiints and R¢ports) Rcgulations 2008 requires lis to report to you il, in our opinion: the inforn]ation given in the Report of the Trustees is inconsistent iii any material respect with the financial stat¢ni¢nts; or the charitable company has not kept adequate accounting records; or tlic financial statcmcnts arc not in agrc¢m¢nl with thc accounting r¢¢ords and r¢turns' or we have not received all the information and explanations we require for our audit. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF B:RAP LTD Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the directors of the Charitable compai)y for the purposes of company law) are responsible for the preparatioi) of the finaneial statements and for bcing satisficd that thcy givc a truc and fair vicw, and for such intcn)al control as thc trustccs dLtcrminc is ncccssary 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 conipany's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unlcss thc trustccs citlicr inlcnd to liqiiidaic thc charitablc company or to ccasc opci-ations, or havc no realistic alternative but lo do so. Our responsibilltles for the audlt of the financlal statements We have beeii appointed as auditors under Section 144 of Ilie Charities Act 2011 and report in accordance with the Act and rclcvanl rcgJulations madc oi- having cffcct thcrcundcr. Oiir objLctivcs arc to obiaiii r¢asoiiablc assiirancc about whcilicr Ilic finai)cial slal¢in¢i)Is as a wholc arc frcc froin matci-ial misstalcincnt, wliclher duL to frciud or cn'or, and lo issuc a Report of the IndcpLndcnt Auditors that includcs our opinion. Reasonable assurai)c¢ is a high level of assurai)ce. bul is not a guaraiit¢¢ that an audit conducted in accordance with ISAS (UK) will always dctect a matcrial Inisslalement when il exists. Misstatcmcnts cai) arise froin traud or crror and arc considcred malcrial if, individually or in Ihc agg)i'cg?atc, they could reasonably be expected to influence the ecoiiomic decisions of uscrs takeii oli thc basis of tli¢s¢ finaiicial statcments. Th¢ extent lo which our procedures ar¢ capable of dctccling irrcgulai'ities, including fraud is dctailcd below: Thc audit proccss incliides an asscssrncnt of thc cnlity'5 risk cnvironmcnl, Ihroiigih cnqiiiry of and discussion with Inai)agycnici)I, ii)cludiii&i an asscssmcnt of ai)y kcy laws and rcgiulations with which thc coinp21ny Inust coniply in Ilie ordinary coursc of its biisiiicss. Additionally, thc ovcrall risks of irrcgular transactions occiirring arc asscsscd following our obscrvalions and coiifiriiilL tion of thc dcsi&Fll <iiid iinplcmcnLition ot mi2n<l&Fcincnt's controls. Wliilst WC <irc miiidfLiI of thcsc risks, our audit focus is gFcarcd towards th¢ I'isk of Inatcrial IMisslalcnicnt in thc financial slalcniciits as a wholc. As sucli, our proccdurcs eaiiiiot giiar1c ntcc that all transactions liavc bccn fully coinpli<2nt with all i-clcvant laws aiid rcg?ulcltions, ii)cludiiig Ihosc rcbyulatioi)s rclalii)g¥ to fraud, as our proccdurcs arc not dcsibyi)cd lo dclcct all inslanccs of noii-conipliancc. By dcfinition, thc risk of our dctcclion of non-coiiipliaiicc is g?rcalcr wherc compliancc with a law or rcgyulation is rcmovcd froin tlic cvcnts and transactions rcflcctcd in thc financial s121l¢mcnts. Thc risk is also byrcalcr rcg71c rdiiig7 iri'cg?ularilic5 duc to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, oniission or misi'¥prcscntation A further description of our rcsponsibilitics for the audit of tlie financial slalcmcnts is locatcd on thc Fiiiancial Reportiiig Council's wcbsilc al www.fr¢.org.uk/audilorsrcsponsibiliti¢s. This dcscriplion forms part of our R¢port of th¢ liidependent Auditors. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF B:RAP LTD Use of our report This report is made solely to the charilable companvs trustees, as a body, in accordance with Part 4 of the Charities (Accoui)Is and Reports) Reglllatioi)s 2008. Our audit work has beei) undertaken so that we might state to Il)e charitable coinpany's trustccs thosc matlcrs wc arc rcquircd to statc to thcm in an auditors, rcport and for no othcr purposc. To thc fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and th¢ cliarilabl¢ company's tn]st¢s as a body, for our audit work, for this report, or for th¢ opinions we hav¢ fom]ed. HB&O Ltd Cliartcrcd Accountants and Slalulory Auditor Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Higl)down House I l Highdown Road Leainington Spa WaiiviLksliii'c CV.11 IXT Dalc.. Page 7
B:RAP LTD STATEMENT OF FINANCIAL ACTIVtTIES for the year ended 31 March 2025 2025 Total funds 2024 Total funds Unrcstrictcd tund Rcstrictcd tunds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 6,498 Charitable activities Piitling You, in cquality Putting 'US' into communities Piitling'WE' in work Pulling'ME' in voice Learning Cominui)ity Research 45,375 201,535 807,331 66,350 489,493 299,445 151,425 489,493 299,445 151,425 Total 940,363 940,363 1,127,089 EXPENDITURE ON Charitable activitles SLipporl Costs Activiles undcrtakcn dircctly 180,383 770,743 180,383 770,743 130,906 790,944 Total 951,126 951,126 921,850 NET INCOMEI(EXPENDITURE) Transfers between funds (10,763) 14,803 (10,763) 205,239 15 (14,803) Net movement In funds 4,040 (14,803) (10,763) 205,239 RECONCILIATION OF FUNDS Total lunds bi'ou&ilil torward 839,942 14,803 854,745 649,506 TOTAL FUNDS CARRIED FORWARD 843,982 843,982 854,745 The notes fom) part of these financial statements Page 8
B:RAP LTD BALANCE SHEET 31 March 2025 2025 Total funds 2024 Total funds Unrcstrictcd tund Rcstrictcd tunds Notes FIXED ASSETS Tangible assets io 22,474 22,474 26,466 CURRENT ASSETS Dcbtors Cash at bank 197,647 908,013 197,647 908,013 258,119 756,439 1,105.660 1,105,660 1.014,558 CREDITORS Amounts falling due within one year 12 (37,679) (37,679) (14,762) NET CURRENT ASSETS 1,067,981 1,067,981 999,796 TOTAL ASSETS LESS CURRENT LIABILITIES 1,090,455 1,090,455 1,026,262 ACCRUALS AND DEFERRED INCOME 14 (246,473) (246,473) (171,517) NET ASSETS 843,982 843,982 854,745 FUNDS Uiir¢stri¢lcd funds Rcstrictcd funds 15 843,982 839,942 14,803 TOTAL FUNDS 843,982 854,745 Thc charilablc ColpanY is entitlcd to cxcmption from audit undcr Scction 477 of tlic Conipanics Act 2006 for thc ycar ended 31 March 2025. The members have not dcposited notice, pursuant to Section 476 of the Companies Act 2006 requiringv an audit of these financial statements. The trustees acknowledge their responsibilities for (a) eiisuring that the charitable company keeps accounting records tlial comply witli Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at Ili¢ cnd of cach financial ycar and of its siirplus or dcficit for ¢a¢li financial y¢ar in a¢¢ordan¢¢ with tlic reqiiirements ol Sections .394 and 395 and which otherwise comply with the requirements of the Conipanies Act 2006 relating to financial slalements, so far as applicable to the charitable company. (bl These fanCIal statements have been audited under the requirements of Section 145 of the Charities Act 2011. The notes fom) part of these financial statements Page 9 continued...
B:RAP LTD BALANCE SHEET - continued 31 March 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small ¢ompani¢s r¢giin¢. The financial statements were approved by the Board of Trustees and authorised for issue and w¢r¢ sigiied on its behalf by.. on M Connclly- Trustcc The notes fom) part of these financial statements Page 10
B:RAP LTD CASH FLOIV STA TEMENT for the year ended 31 March 2025 2025 2024 Noics Cash flows from operating activities Cash generated from operations 1$9,889 78,797 Net cash provided by operating activities 159,889 78,797 Cash flows from investing aetivities Purchasc of tangiblc fixcd asscts (8,315) (15,913) Nci cash uscd in invcsting activitics (8,315) (15,913) Change in cash and cash equivalent5 In the reporting period Cash and cash equivalents at the beglnnlng of the reportlng perlod 151,574 62,884 756,439 693,555 Cash and eash equlvalents at the end of the reportlnR perlod 908,013 75(),439 The notes forni part of these financial statements Pagell
B:RAP LTD NOTES TO THE CASH FLOW STATEMENT for the year ended 31 March 2025 RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERA TING ACTIVITIES 2025 2024 Net (expenditure)lin¢ome for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Decrease in debtors Increasel(d¢creas¢) in creditors (10,763) 205,239 12J07 60,472 97,873 10.318 14,657 (151,417) Net cash provlded by operatlons 159,889 78,797 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank 756.439 151,574 908.013 756,439 151,574 908,013 Total 756,439 151,574 908,013 The notes forni part of these financial statements Page 12
B:RAP LTD NOTES TO THE FINANCIAL STA TEMENTS for the year ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The tinai)cial staleinei)ts of the cl)aritable coinpany, which is a public b¢n¢fit entity under FRS 102, have be¢ii prepared in accordance wilh the Charities SORP {FRS 102) 'Accounting and Reporting by Charities.. Staten]ent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rcporting Standard applicablc in thc UK and Rcpublic of Ircland (FR8 102) {cffcctivc l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Irelai)d' ai)d the Companies Act 2006. The finai)cial statements have been pr¢par¢d under the historical cost convcntion. The accoui)Is l)ave been prepared in accordaiic¢ with applicable accounting standards. The principal accountii)g policies adopted in the preparation of the financial statements are set out below and have remained unchangyed from the previous year. Income All incoinc is rccogniscd in thc Statcmcnl of Financial Aclivitics oncc thc charity has cntitlcmcnt to the funds, it is probable that the income will be I'eceived and the amount can be measured reliably. Expendlture Liabilitics are recogiiiscd as expenditure as soon as there is a legal or constructive obligation conllnitling the cliarily lo that cxpcndilurc, il is probablc that a transfer of cconomic bcnefits will bc rcquircd in scttleincnt and thc arnount of the obligyalion can bc mcasurcd i-cliably. Expcnditurc is accountcd for on an accruals basis and has bccii classificd undcr hcading8 that aggJrLgatc all cost rclalcd 10 Ihc calcgory. Wlicrc costs cannot bc dircctly attribiilcd lo particular licadiiigTS tlicy havc bccn allocatcd lo activilics on a basis consislcnt with Ilic usc of resourccs. Tanglble flxed assets DLprLLialioii is providcd at thc followingy annual ratcs iii ordcr 10 TIle off cach assct over its cstiniaicd uscful lifc. Plant aiid Inachincry Fixlurcs aiid fitlingis 250/y 011 cost 250/0 on cost Taxatlon Thc charity is cxcmpt from corporation tax on its charitablc activities. Fund accountln2 Unrcstriclcd fuiids can b¢ uscd in a¢cordan¢¢ with th¢ charitablc objcclivcs at th¢ discr¢tion of th¢ truslc¢s. Restricted fiinds can only be iised for particular restricted purposes within the objects of the charity. Restrictions ai'isc wlicn spccificd by ihc donoi- or whcii funds arc raiscd for particular rcslriclcd purpos¢s. Further explaiiation of the nature and purpose of each fund is included in the notes to tlie financial slalenients. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged lo the Statement of Financial Activities in the period to which they relate. Page 13 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 DONATIONS AND LEGACIES 2025 2024 Donations 6,498 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Putting 'You' in equality Putting 'You' in equality Putting, 'US' into conimunitics Piitling 'US' into cominunitics Puttiiig 'WE' in work Pulling'WE' in work Piitling 'ME' in voice Putting 'ME' in voice Leaniing Lean)ing Community Coniinunity Rcscarcli Rcscarch 45,375 201,535 807.331 66,350 489,493 299,445 151,425 940,363 1,120,591 CHARITABLE ACTIVITIES COSTS Support costs (see noic 5) Dircct Costs Totals Support Costs Activitcs undcrtakcn dircctly 51,630 542,496 128,753 228,247 180,383 770,743 594,126 3$7,000 951,126 SUPPORT COSTS Govcrnance costs Managcmcnt Other Totals SLlPPOrt Costs Activites undertaken directly 121,Sq3 16,797 7,200 128,753 228,247 211,450 211,450 138,350 7,200 357,000 NET INCOMEI(EXPENDITURE) Net incomel(expendifurel is stated after chargingl(crediting).' 2025 2024 Auditors, remuneration Depreciation - owned assets 7,200 12J07 7,247 Page 14 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 TRUSTEES, REMUNEIL4TION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 3 l March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS 2025 2024 Wagcs and salarics Social security costs Othei. pension costs 459,244 42,930 26,450 483,264 45.756 28,610 528,624 557,630 The average monthly numbcr of employees during the year was as follows.. 2025 2024 Adininistration Thc nuinbcr of cmployccs whosc cmploycc bcncfits (cxcluding cmploycr pcnsion costs) cxcccdcd £60,000 was: 2025 2024 £60,001- L70,000 £90,001- £ l On,000 Kcy managycincnt pcrsonncl comprisc trustccs, thc Chicf Exccutivc Officc and thc I)cputy CEO. Two (2024.. two) mcmbcr5 of key managcmcnt personnel were remunerated for their sei'vices to the charity. Total costs of kcy managicnicnt pcrsonn¢l (in¢ludiiig cniploycr pension and national insui'an¢¢ contribulioiis) wcrc £18C),449 (2024.. £18C),-32.3). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Ui]rcstricted fund Rcstricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legyacies 6,498 6,498 Charltable actlvltles Puttiiig 'You' in equality Putting 'US' into ¢oinmunitics Putling'WE' in work Puttiiig 'ME' in voice 45,375 91,685 705,881 66,350 45.375 201,535 807,131 66.350 109,850 101,450 Total 915,789 211,300 1,127,089 EXPENDITURE ON Charitable activities Support Costs 130,906 130,906 Page 15 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 COMPAIL4TIVES FOR THE STATEMENT OF FINANCL4L ACTIVITIES - continued Ui)restriet¢d Restricted fund funds Total funds Activitcs undcrtakcn dircctly 593,197 197,747 790,944 Total 724,103 197,747 921,850 NET INCOME 191,686 13,553 205,239 RECONCILIATION OF FUNDS Total funds brought forward 648,256 1,250 649,506 TOTAL FUNDS CARRTED FORWARD 839,942 14,803 854,745 10. TANGIBLE FIXED ASSETS Fixlurcs and fittings Plant and macliiiicry Totals COST At l April 2024 Additions 6,908 70,793 8,315 8,315 At 31 March 2025 72,200 6,908 79,108 DEPRECIATION At l April 2024 ChargFc foi- ycar 37,749 11,977 44,327 12,307 330 At 31 March 2025 49,726 6,908 56,634 NET BOOK VALUE At.31 March 2025 22,474 22,474 At 31 March 2024 26,136 26,466 DEBTURS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Oth¢i- d¢btors Prepayments 137,970 9,355 SOJ22 225,884 5,762 26,473 197,647 258,119 Page 16 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Oth¢i- creditors 34,145 3,534 10,098 4,664 37,679 14,762 13. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2025 2024 Within one year Bctwecn onc and fivc ycars 17,760 23.800 9,917 17,760 14. ACCRUALS AND DEFERRED INCOME 2025 2024 Accruals and dclcrrcd income 246,473 171,517 MOVEMENT IN FUNDS Nct movcincnl in tunds Transfcrs bctwccn funds Al 31.3.25 At 1.4.24 Unrestrlcted funds Gciieral fiiiid 839,942 (10,763) 14,803 843,982 Rcstrlcted funds Global Fund for Childrcn (The Phocnix Way) Tlic Kinby's Fund - OD Team London Borougli of Towcr Hainl¢ls 1,203 1,600 12,000 (1,203) (1,600) (12,000) 14,803 (14,803) TOTAL FUNDS 854,745 (10,763) 843,982 Net movement in funds, included in the above are as follows: Incoming resources Resources expeiided Movement in funds Unrestricted funds General fund 940,363 (951,126) (10,763) TOTAL FUNDS 940,363 (951,126) {10,763) Page 17 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 15. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds General fund 648,256 191,686 839,942 Restrieted funds Ban'ow Cadbury Trust Global Fund for Childrcn (Thc Phocnix Way) Tlic King's Flind - OD Teain London Boroiig,h of Tower Hanilcls ,250 (1.250) 1,203 1,600 12,000 1,203 I,()00 12,nOO 1,250 13,553 14,803 TOTAL FUNDS 649,50C) 205,239 854,745 Comparativc net movcmcnt in funds, includcd in thc above arc as follows.. Incoming rcsourccs Rcsourccs cxpcndcd Movcmcnt in funds Unrestrlcted funds Gciicral tiiiid 915,789 (724,103) 191,686 Restrl¢ted funds Barl'ow C'adbury Trust Global Fund for Cliildi-cn (Tlic Phocnix Way) Merscy Carc NHS Foundation Trust Shvlicr The King's Fund - OD Team London Borougli of Towcr Hainl¢ls (1,250) (1,250) 25,650 70,800 29,85Q 5,000 80,000 (24,447) (70,800) (29,850) (3,400) (68,000) 1,203 1,600 12,000 211,300 (197,747) 13,553 TOTAL FUNDS 1,127,089 (921,850) 205,239 Page 18 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 15. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows- Nct movement iii tunds Transfcrs between tunds At 31.3.25 At 1.4.23 Unrestricted funds Gcncral fund 648,256 180,923 14,803 843,982 Restrlcted funds Ban'ow Cadbury Trust Global Fund for Children (The Phoenix Way) The King's Fund - OD Team London BoroiigJh of Towcr Hanilcls 1,250 (1,250) 11,2n3) (1,600) (12,000) 1,600 12,000 1,250 13,553 (14,803) TOTAL FUNDS 649,506 194,476 843,982 A ciirrcnl ycar 12 montlis and prior ycar 12 months combincd ncl movcmcnt in funds, includcd in Ihc abovc are as fol lows.. Incomiiig r¢sourccs Rcsoiirccs ¢xpcndcd Movcmcnt in tunds Unrestrlcted funds Gcncral fund 1,856,152 (1,675,229) 180,923 Restrlcted funds Barl'ow c.adbury Trust Global Fund for Cliildrcn (Tlic Phocnix Way) Mcrscy Carc NHS Foundation Ti-ust Shelter Thc King's Fund - OD Teain London Boroubyh of Tower Hanilels (1,250) (1,250) 25,C)S0 70,800 29,850 5,000 80,000 (24,447) (70,800) {29,850) (3,400) (68,000) 1,203 1,600 12,000 211,300 (197,747) 13,553 TOTAL FUNDS 2,067,452 (1,872,976) 194.476 Page 19 continued...
B:RAP LTD NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2025 16. EMPLOYEE BENEFIT OBLIGATIONS The company operates a defined contribiition pension scheme. The assets of the scheme are held separately from those of the c.ompany in an independently adrninistered fund. The pension cost charge represents contributions payablc by thc company to thc fund and amountcd to £26,450 (2024 £21,994) Contributions totalling £2,835 {2024.. £3,603) were payable to the fund at the balance sheet date. 17. RELA TED PARTY DISCLOSURES Dui-ing thc ycar thcrc wcrc purchascs of £2,887 (2024: £2,295) from Klinc Associatcs Ltd for consultancy services. The director of the company is husband of Trustee N Kline. Page 20
B:RAP LTD DETAILED STA TEMENT OF FINANCIAL ACTtVlTIES for the year ended 31 March 2025 2025 2024 INCOME AND ENDOWThIENTS Donations and legacies Donatioiis 6,498 Charitable activities Putting 'US' into communities Piitling You, in cquality Putting 'WE' in work Putling,'ME' in VOICL L¢aniing Community Research 201,535 45,375 807,331 61),350 489,493 299,44S 151,425 940,363 1.120,591 Total Incorning resources 940,363 1.127,089 EXPENDITURE Charltable actlvltles Wagics Social s¢¢urity Pciisioiis Adv¢rtising ConsLiltancy and profcssional fccs Sciminars, Evcnts aiid traiiiiiig Ti-avcl aiid subsistencc 275,546 289,958 27,454 17,166 5,971 164,446 20,245 52,539 32.492 188,226 19,138 37,096 594,126 577,779 Support costs Management WabYCS Social sccurity Pcnsions 183,698 17,172 19.3,-306 18,302 11.444 211,450 223,052 Other Insurance Seminars, events and training Pr¢mis¢ ¢osls Other Office costs Legal and professional fees Auditor's fee Depreciation of tangible fixed assets 4,069 12,274 76,630 3,752 11,617 53,385 20,616 13,610 474 10,318 8,711 12,307 138,350 13,772 This page does not form part of the statutory financial statements Page21
B:RAP LTD DETAILED STA TEMENT OF FINANCIAL ACTtVlTIES for the year ended 31 March 2025 2025 2024 Other Governance costs Auditoi's, rcniuncration 7,200 7,247 Total rcsourccs cxpcndcd 951,126 921,850 Net (expendlture)Ilncome (10,763) 205,239 This page does not form part of the statutory financial statements Page 22
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