2024-05-31-accounts

Charity Registration No. 1119034

Company Registration No. 05924196 (England and Wales)

THE ISLAND PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

THE ISLAND PROJECT

LEGAL AND ADMINISTRATIVE INFORMATION

Directors

L J Doble G Booth JA Walters-Hutton

Secretary

S D Gallagher

Charity number

1119034

Company number

05924196

Registered office

Jerrings Hall Farm Tanworth Lane Shirley Solihull B90 4DX

Auditor

Sumer Auditco Limited The Beehive Beehive Ring Road London Gatwick Airport Gatwick United Kingdom RH6 OPA

THE ISLAND PROJECT

CONTENTS

a	a
	Page
Trustees’ report	1-5
Statement ofTrustees' responsibilities	6
Independent auditor's report	7-9
Statement of financial activities	10
Balance sheet	11
Statement of cash flows	12
Notestothefinancialstatements	13-20

a

THE ISLAND PROJECT

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MAY 2024

The trustees present their annual report and financial statements for the year ended 31 May 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charities governing document, the Companies Act 2006 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)" (effective 1 January 2019).

Objectives and activities

To advance the education and well being of children and young people with autism

To advance the acceptance of those diagnosed with autism through a school and through the provision of training, training materials and the dissemination of research results to professionals and carers.

To promote and maintain assistance

To provide guidance, assistance and help to families and carers of children and young people diagnosed with autism and associated disorders.

To raise funds and invite and receive contributions

The Charity will draw, make, accept, endorse, discount, execute and issue bills, cheques and other instruments and to operate bank accounts in the name of the Charity, providing that in raising funds the Charity shall not undertake any substantial permanent trading activities and shall conform to any relevant statutory regulations.

The Charity has power to acquire, alter, improve and (subject to such consents as may be required by law) to charge or otherwise to dispose of property. it also has power to pay out of the funds of the Charity the costs, charges and expenses of and incidental to the formation and registration of the Charity.

To co-operate with other charities

To co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objectives of similar charitable purposes and to exchange information and advice with them.

To establish or support any additional charitable trusts, associations or institutions formed for all or any of the objectives.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

-1-

THE ISLAND PROJECT

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Achievements and performance

Consultations from local authorities increased by 108% on the previous year up to 31 August 2024. At the time of writing the report, we have already exceeded the number of consultations for the comparable period last year by 20%

The School is starting to build relationships with new organisations and communities in our new local area, and pupils are exploring the local surroundings as part of their community access.

Following signing up with Talentino, our post 14 pupils are hoping to access work experience with a local garden centre and Digital Office Systems

Following the move to the new site, we now have a dedicated group space called The Enrichment Centre. This is a group space which can be used flexibly by pupils, but also allows us to invite parents and other organisations along. Highlights have been a welcome open day for parents, and Christmas Mince Pie and Coffee for parents and supporters.

Our post 14 pupils in our Orwell Unit held a photography exhibition in the Enrichment Centre which was attended by parents. We were also able to host a Junk Percussion Workshop which was enjoyed by pupils and Staff. We have visits from the Animal Man and workshops run by Warwickshire County Cricket Club.

Importantly, this space allows us to run Communication Cafe every Tuesday attended by younger pupils, allowing them the opportunity to practice various skills and expand communication. Pupils are involved in running the Communication Cafe, shopping for items and preparing food and generalising their skills in a safe space. Some of our older pupils help to set up the Communication Cafe on a weekly basis as part of their internal work experience, which also helps promote inclusion in the wider School Community.

The School has been able to celebrate “whole school” events which brings together all pupils across the site with all school staff, including those who do not work with them directly, such as the administrative team. This has included an offsite Christmas Fayre, a Summer Party and a Halloween event. The new site gives us some limited indoor and outdoor spaces to continue these type of activities and introduce new ones.

Finally, despite the national staffing crisis, the School has managed to retain staff following the move, recruit new staff and maintain safe staffing ratios for the day to day running of the School. Whilst there has been some session cancellations following the move to allow for emergency work to be done (eg, repairs to school sewerage system or maintenance of new door access systems), the School has consistently managed to provide safe staffing levels. This has been challenging, particularly around staff recruitment, but the School has nurtured relationships with two key recruitment agencies to ensure that recruitment and retention is successful.

The Future

Following a prolonged period of uncertainty and upheaval caused by the impending move, now that the School is settled into its new environment, we look forward to rebuilding the School and increasing pupil numbers. We have had 5 new pupils join since we commenced transition to the new site, and we look forward to increasing pupil numbers further over the coming year.

Reserves policy

It is the policy of the charity that should the charity have any unrestricted funds which have not been designated for a specific use, the charity would aim to maintain these at a level equivalent to between three- and six-month's expenditure. The trustees continue to aim for the charity to be in a position where it can ensure that that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

-2.

THE ISLAND PROJECT

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

Structure, governance and management

The organisation is a charitable company limited by guarantee (“the Charity”), incorporated on 4 September 2006. The Charity was established under a memorandum of Association which established the objectives and powers of the charitable company and is governed under its Articles of Association. in the event of the Charity being wound up members are required to contribute an amount not exceeding £10.

The trustees who are also the directors for the purpose of company law, who served during the year and up to the date of signature of the financial statements were:

L J Doble

C P Browning

(Resigned 9 August 2024)

G Booth

J A Walters-Hutton

-3-

THE ISLAND PROJECT

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Jerrings Hall Farm and HS2

On 28th March 2024, the School were handed keys to Jerrings Hall Farm following refurbishment by HS2 under the terms of our relocation agreement.

Over the following 3 months, additional fit out and works were undertaken, including essential health and safety work such as additional fencing to the grounds to ensure pupil safety. The site was fitted out with furniture and equipment ready to enable transition for pupils.

HS? first came to speak to the School over 10 years ago, and it was originally anticipated that HS2 would buy the School out of its lease at Diddington Hall, which would have been for a period of approximately 8 years. In reality, the School was required to vacate Diddington Halt within a very short timescale as Building Control Sign Off was not received until 28th June 2024. This did mean that additional unanticipated costs were incurred, and there was a considerable strain on the School, pupils and senior leadership team.

Following sign off by Building Control, pupils started to transition to the new schoo! premises on 6th July, and summer school in the last 3 weeks of term was held at Jerrings Hall Farm.

Due to the protracted delays the Schoo! was required to vacate Diddington Hall within a very short timescale as the School's lease had expired. This meant that the agreed 6 month transition was not forthcoming, and the keys to Diddington Hall were handed on 9th August 2024. Working to such a reduced timetable increased the workload on the senior leadership team leading to a huge amount of stress and pressure at a time when the School is still trying to recover from the devastating impact that HS2 has had on the organisation. {t is only due to the tremendous efforts of everyone involved that the move was achieved in such a conflated timeframe and with as iittle impact on pupils as possible.

The impact to the physical and mental wellbeing of the senior leadership team cannot be underestimated and the Trustees would like to recognise the incredible achievement of the Senior Leadership Team and Senior Admin Team in overcoming the challenges arising from the impact of HS2 whilst maintaining and running the School.

From September 2024, the School has been based exclusively at Jerrings Hall Farm and is currently bedding in to its new site. The changed, and much smaller environment, has meant that the Schoo! has had to make some practical changes to its operation, such as engaging additional behaviour support.

It is with great regret that, following the move, we are not in a position to match our previous offer to help pupils where there is the greatest need. The reduced floor space, reduced number of rooms and smaller room size means that space available offers much less flexibility than we enjoyed previously. Previously, the Island Project had always been able to offer places to those pupils most in need, but the changed space means that the School is less able to react to changing needs within the SEND system, leading to a more restricted diversity of pupil cohort. The School is no longer able to offer places to verbal pupils under the age of 14 which is an area where we have seen an increased need.

Whilst the majority of pupils have settled in to the new site, there are a few who are struggling with the changed environment and reduced space, and School is working with parents and local authorities to support the young people who have found the change particularly difficult.

Despite the move being completed, the long term impact of HS2 is still being felt by the School and this pressure will continue until such time as the School has settled in to its new site and rebuilt pupil numbers. The Trustees hope to reach final resolution with HS2 by the end of this financial year. The Senior Leadership Team continue to work tirelessly to help children and young people with autism, support their families and rebuild a business which has been broken by the impact of HS2.

The School is grateful to a number of organisations who have helped support the transition, including ongoing support from Sanderson Weatherall. Volunteer parties from IMP Properties PLC, Balfour Beatty Vinci, HS2 engagement teams, Knight Frank and Digital Office Systems have been invaluable in setting up the new environment for pupils.

-4-

THE ISLAND PROJECT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

Auditor

In accordance with the company's articles, a resolution proposing that Sumer Auditco Limited be reappointed as auditor of the company will be put at a General Meeting.

The Trustees’ report was approved by the Board of Trustees.

J A Walters-Hutton

19 February 2025

-5-

THE ISLAND PROJECT STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MAY 2024

The Trustees , who are also the directors of The Island Project for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware;

• There is no relevant audit information (information needed by the Charity’s auditors in connection with preparing their report) of which the Charity’s auditors are unaware,

• The Trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the Charity’s auditors are aware of that information.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, 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 principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent, - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

-6-

THE ISLAND PROJECT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ISLAND PROJECT

Opinion

We have audited the financial statements of The Island Project (the ‘charity’) for the year ended 31 May 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 May 2024 and of its incoming resources and application of resources, 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 requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 20 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 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’ report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

-7-

THE ISLAND PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ISLAND PROJECT

Responsibilities of trustees

As explained more fully in the statement of Trustees’ responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

• Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.

• Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.

• Testing key income lines, in particular cut-off, for evidence of management bias.

• Reviewing completeness of related party balances and transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a materia! misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation from the events and transactions reflected in the financial statements, as we will be less likely to be 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 is available on the Financial Reporting Council’s website at: https:// 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 charity’s 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 charity's trustees 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 responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

-8-

THE ISLAND PROJECT

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE ISLAND PROJECT

? hank / Don '

r Richard Horton FCCA (Senior Statutory Auditor)

For and on behalf of Sumer Auditco Limited, Statutory Auditor

Chartered Accountants

The Beehive

Beehive Ring Road

London Gatwick Airport Gatwick

RH6 OPA

United 7 Date: 2) hay A025,

Sumer Auditco Limited;is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a compan der section 1212 of the Companies Act 2006.

=9.-

THE ISLAND PROJECT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MAY 2024

		Unrestricted	Unrestricted
		funds	funds
		2024	2023
	Notes	£	£
Income and endowments from:
Donations and legacies	2	285	1,454
Charitable activities	3	1,003,664	1,083,348
Othertrading activities	4	499	-
Other income	5	940,252	656,352
Total income		1,944,700	1,741,154
Expenditure on:
Raising funds	6	303	-
Charitable activities	7	1,660,255	1,528,530
Total expenditure		1,660,558	1,528,530
Net income and movement in funds		284,142	212,624
Reconciliation offunds:
Fund balances at 1 June 2023		180,163	(32,461)
Fundbalancesat31May2024		464,305	180,163

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

-10-

THE ISLAND PROJECT

BALANCE SHEET AS AT 31 MAY 2024

		2024		2023
	Notes	£	£	£	£
Fixed assets
Tangible assets	12		56,191		4,462
Current assets
Debtors	13	343,757		340,604
Cash at bank and in hand		289,647		116,999
		633,404		457,603
Creditors: amounts falling due within	15
one year		(222,248)		(276,867)
Net current assets			411,156		180,736
Total assets less current liabilities			467,347		185,198
Creditors: amounts falling due after
more than oneyear	16		(3,042)		(5,035)
Net assets			464,305		180,163
The funds ofthe charity
Unrestricted funds	18		464,305		180,163
			464,305		180,163

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 May 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 19 February 2025

==> picture [148 x 35] intentionally omitted <==

----- Start of picture text -----
‘VY f _
JA Walters-Hutton
----- End of picture text -----

Company registration number 05924196 (England and Wales)

rs |

THE ISLAND PROJECT

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MAY 2024

==> picture [493 x 294] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from/(absorbed|by)|21| |operations|235,711|(36,970)| |Investing|activities| |Purchase|of tangible|fixed|assets|(55,970)|(3,991)| |Repayment|of|loans|(5,139)|-| |Net|cash|used|in|investing|activities|(61,109)|(3,991)| |Financing|activities| |Repayment|of|bank|loans|(1,954)|(1,907)| |Net|cash|used|in|financing|activities|(1,954)|(1,907)| |Net|increase/(decrease)|in|cash|and|cash| |equivalents|172,648|(42,868)| |Cash|and|cash|equivalents|at|beginning|of year|116,999|159,867| |Cash|and|cash|equivalents|at|end|of year|289,647|116,999|

----- End of picture text -----

-12-

THE ISLAND PROJECT

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

• 1 Accounting policies

Charity information

The Island Project is a private company limited by guarantee incorporated in England and Wales. The registered office is Jerrings Hall Farm, Tanworth Lane, Shirley, Solihull, B90 4DX.

• 1.1 Accounting convention

The financial statements have been prepared in accordance with the charities governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (‘“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

• 1.2. Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

• 1.3. Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

• 1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

= ye

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

• 1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Over the term of the lease Fixtures and fittings 25% straight line Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7. Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

• 1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

-14-

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

2 Income from donations and legacies

		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Donations and gifts	285	1,454
3	Charitable activities
		Charitable	Chairtable
		income	income
		2024	2023
		£	£
	Income from charitable activities	1,003,664	1,083,348
4	Income from other trading activities
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Fundraising events	499	-
5	Other income
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Discretionary compensation payments	940,252	656,352
6	Expenditure on raising funds
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Fundraising and publicity
	Otherfundraisingcosts	303	-

-15-

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

7 Charitable activities

==> picture [465 x 491] intentionally omitted <==

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Direct|Indirect|Total|Direct|Indirect|Total| |Charitable|Charitable|2024|Charitable|Charitable|2023| |Expenditure|Expenditure|Expenditure|Expenditure| |2024|2024|2023|2023| |£|£|£|£|£|£| |Staff|costs|773,743|122,657|896,400|826,582|80,458|907,040| |Depreciation|-|4,241|4,241|-|1,732|1,732| |Therapy|40,211|-|40,211|45,097|-|45,097| |Educational|resources|37,878|-|37,878|29,022|-|29,022| |Sub-contract|support|45,793|-|45,793|40,559|-|40,559| |CRB|checks|680|-|680|1,665|-|1,665| |Rent|-|187,949|187,949|-|173,894|173,894| |Rates|and|water|-|2,374|2,374|-|1,715|1,715| |Insurance|-|32,364|32,364|-|34,343|34,343| |Light|and|heat|-|23,452|23,452|-|20,368|20,368| |Cleaning|-|43,589|43,589|-|41,877|41,877| |Property|repairs|and| |maintenance|-|32,987|32,987|-|20,948|20,948| |Printing,|postage|and| |stationery|-|14,098|14,098|-|16,362|16,362| |Telephone|-|18,625|18,625|-|11,804|11,804| |HS2|related|expenditure|-|213,717|213,717|-|110,923|110,923| |Motor|and|travel|expenses|-|28,241|28,241|-|30,147|30,147| |Legal|and|professional|fees|-|24,240|24,240|-|19,724|19,724| |Other|charitable| |expenditure|-|13,416|13,416|-|21,310|21,310| |898,305|761,950|1,660,255|942,925|585,605|1,528,530| |898,305|761,950|1,660,255|942,925|585,605|1,528,530| |Net|movement|in|funds|2024|2023| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for|the|audit|of|the|charity's|financial|statements|3,800|3,690| |Depreciation|of owned|tangible|fixed|assets|4,241|1,732|

----- End of picture text -----

8 Net movement in funds

The net movement in funds is stated after charging/(crediting):

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

-16-

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

10 Employees

The average monthly number of employees during the year was:

	2024	2023
	Number	Number
	35	41
Employment costs	2024	2023
	£	£
Wages and salaries	558,381	593,866
Social security costs	52,258	43,941
Other pension costs	33,165	25,170
	896,400	907,040

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11. Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
	Leasehold improvements	Fixtures and fittings	Computers	Total
	£	£	£	£
Cost
At 1 June 2023	-	2,134	12,713	14,847
Additions	12,955	41,884	1,131	55,970
Disposals	-	(2,134)	(5,776)	(7,910)
At 31 May 2024	12,955	41,884	8,068	62,907
Depreciation and impairment
At 1 June 2023	-	2,134	8,251	10,385
Depreciation charged in the year	682	1,544	2,015	4,241
Eliminated in respect of disposals	-	(2,134)	(5,776)	(7,910)
At 31 May 2024	682	1,544	4,490	6,716
Carrying amount
At 31 May 2024	12,273	40,340	3,578	56,191
At31May2023	-	-	4,462	4,462

ee he ae

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

13 Debtors

==> picture [489 x 573] intentionally omitted <==

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2024|2023| |Amounts|falling|due|within|one|year:|£|£| |Trade|debtors|19,706|60,296| |Other|debtors|305,139|278,800| |Prepayments|and|accrued|income|18,912|1,508| |343,757|340,604| |14|Loans|and|overdrafts| |2024|2023| |£|£| |Bank|loans|5,042|6,996| |Payable|within|one|year|2,000|1,961| |Payable|after|one|year|3,042|5,035| |15|Creditors:|amounts|falling|due|within|one|year| |2024|2023| |Notes|£|£| |Bank|loans|14|2,000|1,961| |Other|taxation|and|social|security|13,298|35,292| |Trade|creditors|276|.| |Other|creditors|172/512|224,323| |Accruals|and|deferred|income|34,162|15,291| |222,248|276,867| |16|Creditors:|amounts|falling|due|after more|than|one|year| |2024|2023| |Notes|&|£| |Bank|loans|14|3,042|5,035| |17|Retirement|benefit|schemes| |2024|2023| |Defined|contribution|schemes|£|£| |Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|15,222|15,301|

----- End of picture text -----

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

= 48

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At1June	Incoming	Resources	At 31 May
	2023	resources	expended	2024
	£	£	£	£
General funds	180,163	1,944,700	(1,660,558)	464,305
Previous year:	At 1 June	Incoming	Resources	At 31 May
	2022	resources	expended	2023
	£	£	£	.
Generalfunds	(32,461)	1,741,154	(1,528,530)	180,163

19 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

20 Non-audit services provided by auditor

In common with many businesses of our size and nature we use our auditor to assist with the preparation of the financial statements.

21 Cash generated from/(absorbed by) operations

Cash generated from/(absorbed by) operations	2024	2023
	£	£
Surplus for the year	284,142	212,624
Adjustments for:
Depreciation and impairment oftangible fixed assets	4,241	1,732
Movements in working capital:
Decrease/(increase) in debtors	1,986	(190,220)
(Decrease) in creditors	(54,658)	(61,106)
Cashgeneratedfrom/(absorbedby)operations	235,711	(36,970)

249

THE ISLAND PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2024

22 ~=Analysis of changes in net funds

~=Analysis of changeschanges in net funds
	At1June 2023	Cash flows	At 31 May 2024
	£	£	£
Cash at bank and in hand	116,999	172,648	289,647
Loans falling due within one year	(1,961)	(39)	(2,000)
Loans falling due after more than one year	(5,035)	1,993	(3,042)
	110,003	174,602	284,605

-20-