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← Richmond Psychosocial Foundation International

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 05794508 (England and Wales) REGISTERED CHARITY NUMBER: 1116206

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL (A COMPANY LIMITED BY GUARANTEE)

Hartley Fowler LLP Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 14
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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL (REGISTERED NUMBER: 05794508)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity (RPFI) aims to offer helpful responses to mental health problems whether caused by mental illness, drug addiction, learning difficulties or deprivation and abuse.

Significant activities

The charity runs residential homes in South West London, providing therapeutic services for adults recovering from mental health problems, for adults with moderate learning difficulties and those with lesser dependency needs but unable to live alone.

Following a number of years of operating deficits the charity has succeeded in consolidating its activities in order that it should be able to produce small operating surpluses in the future.

The White House in Twickenham is a well-established and highly valued dual facility for eight adult learning-disabled residents, five of whom live in the care home and three in an adjoining Supportive Living Unit. The charity has been successful in maintaining high levels of occupancy throughout the year.

The charity is subject to external monitoring by the CQC and it's provision is currently rated as good.

Public benefit

The Trustees have had regard to the Charity Commission guidance on public benefit in planning the activities of the charity.

Social investments

The charity is committed to providing high quality facilities for residents and has undertaken significant investment in maintaining and upgrading the property for the benefit of its residents.

STRATEGIC REPORT

Achievement and performance

Fundraising activities

The principal sources of funding in the period were Local Authority fees and grants.

Financial review

Financial position

In common with many third sector care providers the charity has had to continue to provide adequate levels of care despite increasing restrictions in relation to the income provided to support individual residents by local authorities and the NHS.

All restricted funds received in the year have been applied in accordance with the wishes and directions of the donors.The trustees consider that all remaining funds held at the year end are unrestricted.

The main asset of the charity is a freehold property included at a valuation of £1.05m.

Reserves policy

It is the policy of the charity to maintain unrestricted liquid funds, which are the free reserves of the charity, at a level which equates to approximately four months unrestricted expenditure. This would provide sufficient funds to cover management and administration and support costs and to respond to emergency applications for grants, which may arise from time to time.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and is constituted as a Company Limited by Guarantee as defined by the Companies Act 2006.

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL (REGISTERED NUMBER: 05794508)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The charity is governed by a board of trustees currently with three members who are responsible for the overall strategic direction of the charity with the day to day management being delegated to the Coordinator, Mohamed Aw Ali and other full time staff. New trustees are recruited and appointed by the existing board.

Training is provided for staff and employees as necessary to enable them to properly carry out their roles.

Trustees are responsible for reviewing the levels of pay of key management personnel and these are maintained at levels consistent with those of similar organisations.

Wider network

The charity is an independent entity and is not currently involved with or affiliated to any wider networks in the UK or elsewhere.

Related parties

The founder of the charity, Elly Jansen OBE and her daughter together have provided interest free loans to the charity amounting to £457,439 (2023 £457,439).

Risk management

The trustees have examined the strategic, business and operational risks which the charity faces and confirm that the systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen any risks.

Although the trustees believe the charity generates sufficient income to cover it's routine costs it is vulnerable to cuts in the level of that income either from reduced levels of funding from local authorities or through the failure to maintain sufficiently high levels of occupancy. Finding adequate numbers of suitably qualified staff at reasonable cost may become a significant issue in the future.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

05794508 (England and Wales)

Registered Charity number

1116206

Registered office

91 Heathfield North Twickenham Middlesex TW2 7QN

Trustees

Ms S P Martins - Chair of the Board Dr S A O Gasper Miss O Oyinsan

Independent Examiner

Hartley Fowler LLP Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL (REGISTERED NUMBER: 05794508)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

Natwest Bank plc 50 High Street Egham Surrey TW20 9EU

Solicitors

Hill Dickinson LLP The BroadgateTower, 20 Primrose Street, London EC2A 2EW

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 December 2024 and signed on the board's behalf by:

Ms S P Martins - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

Independent examiner's report to the trustees of Richmond Psychosocial Foundation International ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jonathan Askew

Hartley Fowler LLP Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

Date: .............................................

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
-
-
Charitable activities
3
General
514,723
-
Total
514,723
-
EXPENDITURE ON
Charitable activities
4
General
448,399
-
NET INCOME
66,324
-
RECONCILIATION OF FUNDS
Total funds brought forward
810,150
-
TOTAL FUNDS CARRIED FORWARD
876,474
-		 2024
Total
funds
£
-
514,723
514,723
448,399
66,324
810,150
876,474		 2023
Total
funds
£
250
482,944
483,194
382,363
100,831
709,319
810,150

The notes form part of these financial statements

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL (REGISTERED NUMBER: 05794508)

BALANCE SHEET 31 MARCH 2024

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 2024
£
1,053,468
856
313,208
314,064
(491,058)
(176,994)
876,474
876,474
876,474
876,474		 2023
£
1,053,787
5,857
214,878
220,735
(464,372)
(243,637)
810,150
810,150
810,150
810,150

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The financial statements were approved by the Board of Trustees and authorised for issue on 28 December 2024 and were signed on its behalf by:

Ms S P Martins - Trustee

The notes form part of these financial statements

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
98,999
98,999
(1,263)
594
(669)
98,330
214,878
313,208		 2023
£
52,886
52,886
(429)
-
(429)
52,457
162,421
214,878

The notes form part of these financial statements

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM
Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors		 OPERATING ACTIVITIES
2024
2023
£
£
66,324
100,831
988
1,188
5,001
(4,346)
26,686
(44,787)
Net cash provided by operations 98,999
52,886
2.
ANALYSIS OF CHANGES IN NET FUNDS
At
Net cash
Cash at bank and in hand		 1/4/23
£
214,878		 Cash flow
At 31/3/24
£
£
98,330
313,208
214,878 98,330
313,208
Total 214,878 98,330
313,208

The notes form part of these financial statements

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The charity has incurred operating deficits several years ago due to restrictions in the levels of local authority funding and difficulties in maintaining occupancy levels which have left it dependent on the ongoing support of its founder and principal benefactor.

Following a period of consolidation and restructuring, the trustees consider the charity to be a going concern and believe there will be no necessity to cease or significantly curtail its activities in the foreseeable future.

Income

Income from donations or grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the donations or grants have been met, it is probable that the income will be received and the amount can be measured reliably.

Care fees are recognised with reference to the period in which the service is provided and is measured at the fair value of the consideration receivable.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

Governance costs include the costs of compliance with constitutional and statutory requirements, including independent examiner fees and the costs of legal advice for the trustees.

Allocation and apportionment of costs

Support costs include all those overhead costs of office, utility services and other services and costs, which are in support of the activity. They have been allocated to activity cost categories on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

No depreciation has been charged on the freehold property owned by the charity as in the opinion of the trustees the residual value of the property is not considered to be significantly less that the valuation at which it was originally included in the accounts. The freehold land and building was gifted to the charity in 2010/11

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid. In relation to trade debtors, a provision for impairment is made when there is objective evidence that the charity will not be able to collect all the amounts due under the original terms of the invoice.

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at the settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial instruments of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. DONATIONS AND LEGACIES

2024
£
Grants and donations
-
3.
INCOME FROM CHARITABLE ACTIVITIES
2024
Activity
£
Fees
General
514,723
4.
CHARITABLE ACTIVITIES COSTS
Support
Direct
costs (see
Costs
note 5)
£
£
General
431,999
16,400		 2023
£
250
2023
£
482,944
Totals
£
448,399

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

5.
SUPPORT COSTS
Governance
Finance
costs
Totals
£
£
£
General
1,228
15,172
16,400
Support costs, included in the above, are as follows:
Governance costs
2024
2023
Total
General
activities
£
£
Independent examiner fees
3,150
3,000
Other accounting charges
630
900
Legal and professional fees
11,392
5,056
15,172
8,956
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
£
£
Depreciation - owned assets
988
1,188
7.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
8.
STAFF COSTS
2024
2023
£
£
Wages and salaries
265,471
203,727
Social security costs
21,119
15,593
Pension costs
3,628
2,575
Contractors and agency fees
45,267
50,831
335,485
272,726
The average monthly number of employees during the year was as follows:
2024
2023
Care staff and management
8
7		 5.
SUPPORT COSTS
Governance
Finance
costs
Totals
£
£
£
General
1,228
15,172
16,400
Support costs, included in the above, are as follows:
Governance costs
2024
2023
Total
General
activities
£
£
Independent examiner fees
3,150
3,000
Other accounting charges
630
900
Legal and professional fees
11,392
5,056
15,172
8,956
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
£
£
Depreciation - owned assets
988
1,188
7.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
8.
STAFF COSTS
2024
2023
£
£
Wages and salaries
265,471
203,727
Social security costs
21,119
15,593
Pension costs
3,628
2,575
Contractors and agency fees
45,267
50,831
335,485
272,726
The average monthly number of employees during the year was as follows:
2024
2023
Care staff and management
8
7		 5.
SUPPORT COSTS
Governance
Finance
costs
Totals
£
£
£
General
1,228
15,172
16,400
Support costs, included in the above, are as follows:
Governance costs
2024
2023
Total
General
activities
£
£
Independent examiner fees
3,150
3,000
Other accounting charges
630
900
Legal and professional fees
11,392
5,056
15,172
8,956
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
£
£
Depreciation - owned assets
988
1,188
7.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
8.
STAFF COSTS
2024
2023
£
£
Wages and salaries
265,471
203,727
Social security costs
21,119
15,593
Pension costs
3,628
2,575
Contractors and agency fees
45,267
50,831
335,485
272,726
The average monthly number of employees during the year was as follows:
2024
2023
Care staff and management
8
7
2024
£
265,471
21,119
3,628
45,267
335,485		 2023
£
203,727
15,593
2,575
50,831
272,726
2024
8		 2023
7

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

No employees received emoluments in excess of £60,000.

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 250 - 250
Charitable activities
General 482,944 - 482,944
Total 483,194 - 483,194
EXPENDITURE ON
Charitable activities
General 382,363 - 382,363
NET INCOME 100,831 - 100,831
RECONCILIATION OF FUNDS
-
Total funds brought forward 709,319 709,319
TOTAL FUNDS CARRIED FORWARD 810,150 - 810,150
10. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£ £ £ £
COST
At 1 April 2023 1,050,000 4,677 18,745 1,073,422
Additions - 1,263 - 1,263
- -
Disposals (18,745) (18,745)
At 31 March 2024 1,050,000 5,940 - 1,055,940
DEPRECIATION
-
At 1 April 2023 1,484 18,151 19,635
Charge for year - 988 - 988
- -
Eliminated on disposal (18,151) (18,151)
At 31 March 2024 - 2,472 - 2,472
NET BOOK VALUE
At 31 March 2024 1,050,000 3,468 - 1,053,468
At 31 March 2023 1,050,000 3,193 594 1,053,787
----- End of picture text -----

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 856 5,857
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 1,821 33
Other creditors 457,539 457,439
Accruals and deferred income 27,918 -
Accrued expenses 3,780 6,900
491,058 464,372
13. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2024 2023
Unrestricted Restricted Total Total
fund funds funds funds
£ £ £ £
Fixed assets 1,053,468 - 1,053,468 1,053,787
Current assets 314,064 - 314,064 220,735
Current liabilities (491,058) - (491,058) (464,372)
-
876,474 876,474 810,150
14. MOVEMENT IN FUNDS
Net
movement At
At 1/4/23 in funds 31/3/24
£ £ £
Unrestricted funds
General fund 810,150 66,324 876,474
TOTAL FUNDS 810,150 66,324 876,474
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 514,723 (448,399) 66,324
TOTAL FUNDS 514,723 (448,399) 66,324
----- End of picture text -----

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RICHMOND PSYCHOSOCIAL FOUNDATION INTERNATIONAL

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund		 Net
movement
At
At 1/4/22
in funds
31/3/23
£
£
£
709,319
100,831
810,150
TOTAL FUNDS 709,319
100,831
810,150
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
Unrestricted funds
General fund
483,194
(382,363)
100,831
TOTAL FUNDS 483,194
(382,363)
100,831

15. RELATED PARTY DISCLOSURES

The founder of the charity, Elly Jansen OBE (EJ) together with her daughter have previously provided loans to the charity. At the balance sheet date amounts outstanding were £457,439 (2023 - £457,439) and are included within "other creditors".

No interest was charged on the outstanding loan balances and they are treated as repayable on demand although EJ and her daughter have advised they would not seek repayment of these balances until such time as the charity had sufficient free resources to make such payments.

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