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2023-08-31-accounts

Report of the Trustees and Financial Statements for the Year Ended 31 August 2023 for Rainbow Hub NW Limited

McMillan & Co LLP Chartered Accountants and Statutory Auditor 28 Eaton Avenue, Matrix Office Park, Buckshaw Village, Chorley, Lancashire,PR7 7NA

HUB Every day is a life changing day

Registered company number: 06725399 (england and wales) | Registered charity number: 1127498

Rainbow Hub NW Limited

Contents of the Financial Statements

for the year ended 31 August 2023

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||| |---|---| |Report from the Chairperson|3| |Report of the Trustees|4-20| |Report of the Independent Auditors|21-24| |Statement of Financial Activities|25| |Balance Sheet|26| |Cash Flow Statement|27| |Notes to the Cash Flow Statement|28| |Notes to the Financial Statements|29-41|

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2 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Rainbow Hub NW Limited

Report from the Chairperson for the year ended 31 August 2023

It is with great delight that we present our annual report and accounts, highlighting the incredible work of Rainbow Hub and the tremendous support that makes it all possible.

We have helped improve the lives of 146 children and families this year. There have been many highlights along the way as children developed new skills, some that were never thought possible. We have seen friendships form, challenges overcome and such strength and resilience from the children and families we support. We have heard laughter every day and enjoyed the feeling of hope.

For many families, we are their only support and with NHS services on the decline, it is more important than ever that we give children with physical challenges the opportunity to achieve their potential.

This will help to secure the future of Rainbow Hub for the families that rely on us so heavily.

However, we will always need help from others, and we are so grateful to everyone that has supported Rainbow Hub this year. Together, we are making a difference, and we are looking forward to seeing what more we can achieve next year.

Best wishes,

Of course, none of this is possible without the support and generosity of others. We are so grateful to everyone that has donated, however big or small, because every penny counts. Thank you to our grant funders, our lottery players, our regular givers, our runners, ramblers, skydivers, abseilers and our tree collectors and to everyone that has gone above and beyond to raise money for Rainbow Hub throughout the year.

W Ainscough (Chairman)

We would also like to thank our volunteers who work tirelessly in their roles in maintenance, reception and in the classroom to save the charity over £60,000 each year.

As this year draws to a close, we are already thinking about the next. As the cost of living crisis continues, the number of organisations helping those in need is on the rise. This means an uncertain future for charities like ours which is why Trustees have made the strategic decision to invest in the development of sustainable income.

3 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Rainbow Hub NW Limited Report of the Trustees for the year ended 31 August 2023

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 August 2023. 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).

The charitable company passed a special resolution on 21 August 2019 changing its name from The Legacy Rainbow House to Rainbow Hub NW Ltd. The Charity works to the shortened name of Rainbow Hub.

Rainbow Hub was established in direct response to the needs of parents of disabled children. The service has grown in both scope and scale offering an increasing range of services to increased numbers of children and young people.

Rainbow Hub NW Limited is a Charitable Company Limited by Guarantee employing 25 staff (a mixture of full and part time staff) and supporting over 146 families.

4 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023 a ‘

Objectives and Activities Our purpose and aims

We offer a range of services and support in a purpose-built, supportive, and welcoming environment.

Conductive Education

Our Vision

A world in which children with disabilities are given every opportunity to achieve great things.

Our Conductive Education sessions teach children and young people with movement disorders to develop greater bodily control. Not only improving motor skills and function, Conductive Education also looks at development as a whole, including social, emotional and intellectual aspects. The focus is on active learning, where everyday tasks are broken down into small, achievable steps and the skills they learn help them to be more independent. Children attend each week for their Conductive Education group session. Groups are structured accordingly to age and abilities to ensure that all children are working to similar goals.

Specialist Nursery

Our purpose

To support the whole family and enable children with neuro-disabilities to be as active, independent, and happy as possible and to reach their full potential.

Many children with special educational needs and disabilities are denied the opportunity to access nursery provision. Rainbow Hub Nursery is an early childhood special education service which aims to give children aged 2 to 5 years the opportunity to develop, be happy and make friends with other children who have similar challenges. Children have access to a variety of therapeutic services. With highly trained, empathetic staff experienced in supporting children with physical and learning difficulties, working in high ratios we offer a more flexible approach to learning which is tailored to each child’s specific needs.

How we achieve this

Rainbow Hub is a bright and vibrant place filled with hope, positivity, and laughter. We go to extraordinary lengths to help families on the challenging journey of raising a child with a disability. All too often, focus remains on what a child can’t do and the milestones they are not reaching. At Rainbow Hub we focus on ability, giving children the opportunities they deserve to help them reach their true potential.

5 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Objectives and Activities Our purpose and aims

Sessions are delivered in small groups or one to one, either in person or online where we also work on comprehension, attention, concentration and listening skills.

Holiday Clubs

For four weeks of the school holidays Rainbow Hub is a provider of Short Breaks, commissioned by Lancashire County Council. Children are with us from 10 am until 4 pm and during that time they have a lot of fun whilst their parents enjoy much needed respite.

Family Support

Caring for a disabled child has a profound effect on the whole family and a very important part of our work is supporting the child and their family. We have a dedicated Parent Support Worker who can offer our families both emotional and practical support which could be anything from lending an ear or filling out benefit forms, to finding help with Education and Health Care Plans or going along to medical appointments and school meetings. We also hold around family days throughout the year, from exciting trips to the zoo and Winter Wonderlands, to fun family get-togethers at Rainbow Hub itself these events enable families to come together and have fun.

OUR BRAND NEW Rainbow Hub School

Opening in September 2024 we will provide an enriching, caring and safe family environment for our pupils to flourish and achieve their potential. Pupils will be challenged to use their mind and body with increasing efficiency to enable effective learning in every developmental area. We aim to provide a platform for life beyond Rainbow Hub School, developing independence, resilience, and skills for life.

Public benefit statement

Communication Support

Designed to enhance any NHS Speech and Language Development Plan or offer support where no such plan is in place, we work with parents and carers to identify and develop a child’s communication. A child may communicate in several ways including spoken language, signing, body language, PECS, intensive interaction, and alternative and augmented communication.

Rainbow Hub works for the public benefit through its work delivering a range of education, enablement and support services to disabled children and young people and their families. The Trustees have complied with their duty to note and pay due regard to public benefit guidance published by The Charity Commission. The Trustees are committed to ensuring the Charity remains responsive to, and respectful of, the diverse needs of those with disabilities and their families and the local community, enabling families to pursue ordinary lives and to see their disabled family member achieve their full potential.

6 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Strategic Report

Achievement and performance | Charitable activities

Our Performance

We have provided life changing services to 146 children and families

In Conductive Education

3,729 hours of Conductive Education delivered

211 361 parent and group child sessions sessions

34 one to one sessions

83 advanced mobility group sessions

15 ’working together’ home programme sessions

In Communication Support

452 hours of communication support delivered

293 group sessions

147 one to one sessions

7 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Strategic Report

Achievement and performance | Charitable activities

In Family Support

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We’ve hosted
16
family days
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21 families have been given one to one support

35 stay and play sessions hosted

3 parent workshops delivered

In Rainbow Hub Nursery

14,720 hours of specialist Early Years Education to 29 children who would otherwise not be able to access nursery

In Holiday Fun Clubs

9 full days of holiday club provision enjoyed by 36 children

8 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Achievement and performance | Charitable activities

Strategic Report

The difference we have made

8 children have taken their first step

43 children have learned to walk using aids

12 children have learned to stand independently

13 children have learned to stand with support

27 children are sitting independently

All our children have improved their confidence and willingness to move and try new things

10 children are now moving around the floor without help

8 children can now grasp and release

9 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Strategic Report Achievement and performance | Charitable activities

The difference we have made

15 children are now vocalising, and have started to use speech within the sessions

2 children are responding well to Intensive Interaction sessions

10 children have begun to make choices using TD Snap

We have supported 4 families with their successful benefit claims

10

families have received grants for equipment and holidays

9 families supported through Rainbow Hub Hardship Fund

6 families have enjoyed a VIP experience at shows and sporting events thanks to The Barrie Wells Trust

10 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Strategic Report Achievement and performance | Charitable activities

What our families say

Effie, age 5

“Effie took her first independent steps this week, she’s five years old. She wouldn’t be achieving this huge life moment right now if it wasn’t for Rainbow Hub”.

Ronnie, age 5

“Ronnie has progressed so much this year, his communication has come on leaps and bounds and he is also able to take steps in his walker and stand up straight with the help of an adult. Rainbow Hub gives us so much support”.

Arlo, age 7

“Rainbow Hub allows Arlo to challenge himself, which he really enjoys. His confidence in sessions has grown so much. Rainbow Hub gives Arlo a community of people who understand what life is like with a disability.”

Rosie, age 3

“Rosie can now walk independently with a rotary walker, which is a huge achievement as we never thought she would walk at all, but it is all thanks to the amazing work at the Rainbow Hub.”

Phoebe, age 4

“Phoebe is sitting unaided for longer periods of time and her posture is much better. She initiates taking steps with her walker. Her self-confidence has increased greatly. She is also using her right hand more”.

11 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Achievement and performance | Charitable activities

Strategic Report

What our families say

Edie, age 2

Edie has improved on her motor skills, communication, social interaction, and body control. More importantly, she has so much fun, interacting with her peers and the amazing staff who run her sessions! They are more like family, and we are so grateful to be a part of it.”

Lenny, age 4

Freddie, age 6

“The conductive education sessions have really given Freddie so many opportunities to develop physicallytaking independent steps, beginning to balance on the wobble board and supporting communication with others. In Freddie’s words when we arrive at Rainbow and he sees his friends and staff… “home””

“Lenny has always been quite resistant to the idea of walking - he spent more time with his feet by his ears than on the floor! I knew he needed the right support, encouragement, and consistency in order to get him there. Rainbow Hub really has changed our lives.”

Joshua, age 3 “Joshua has been attending Rainbow Hub for 2 years. In November 2022 he started walking independently. Through Rainbow Hub, I have met parents of children with the same diagnosis as Joshua which has helped me feel less alone”.

12 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Strategic Report Achievement and performance | Charitable activities

Our Strategic Aims 2022-2023

As the cost of living rises, so does the number of compelling causes set up to help those in need. Over the years it has become increasingly difficult to raise funds through donations alone and it is more important than ever that we look to become more sustainable.

We have a clear focus on the sustainability of Rainbow Hub and have developed a strategy that will enable us to generate valuable income through charitable activities.

The initial stages were to develop Rainbow Hub Nursery and holiday fun clubs. Not only do these provide much needed services to families of children with disabilities, but they also provide income through government funded childcare and the Break Time scheme commissioned by Lancashire County Council.

These two services alone have seen our income through charitable activities rise by 100% in the last year.

What we said we’d do

What we’ve done

Operational

We aim to reach more families and support more children within each of our services.

We have been consulting with health and educational professionals and attending networking events to raise the profile of Rainbow Hub and reach more families.

We aim to develop a third nursery room to meet demand.

We have helped 146 children and families this year, which is the most we have helped since our records began.

We aim to develop a specialist school that can meet the needs of children with physical disabilities and difficulties with movement.

Fundraising

We aim to develop additional sustainable income streams.

For a number of reasons, including maternity leave and limited space on site, we have been unable to open our third nursery room. Income generated through charitable activities increased by 100%.

We will increase the number of lottery players and those making monthly donations.

Income received by way of donations increased by 8%. those making monthly donations. We will build on established events to generate additional income. Income received from grant funders increased by 74%. We will be innovative in generating additional income.

13 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Achievement and performance | Charitable activities

Strategic Report

Our Strategic Aims continued

What we said we’d do

Digital

We will find new, more effective ways of communicating with our families.

We will improve our website functionalities and performance.

We will generate more income and raise the profile of the charity through better use of social media platforms.

We will advertise through Google using Google Ads grant funding.

Partnership

We will develop partnerships with other local charities and organisations like ours.

We will increase referrals from health and social care professionals.

What we’ve done

We are developing a new website which is set to launch in March 2024.

We are working with a digital marketing agency to develop our digital marketing strategy.

We have increased the number of followers on several social media channels including Facebook and Instagram.

We are working in partnership with Derian House Children’s Hospice.

We have developed good working relationships with decision makers across several Local Authorities.

We will develop our relationship with Local Authorities.

We will work more closely with our families to ensure we continue to meet the needs of the community we serve.

We are communicating with nursery parents via an app which we are looking to roll out across the organisation.

14 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Strategic Report Achievement and performance | Charitable activities

The Future

We will develop Rainbow Hub School

We are embarking on an exciting chapter and a significant step forward for Rainbow Hub. We have invested over £300,000 in developing Rainbow Hub School following a pledge of £5m from Wain Foundation which will be paid in instalments throughout 23/24.

The donation will enable us to build a school designed to meet the needs of children with physical disabilities. When finished, the school will offer 28 places to children with Cerebral Palsy and other neurological conditions and acquired brain injury. Children will benefit from an integrated healthcare and education approach and, as an extension to our existing offer, they will benefit from Conductive Education throughout the school day.

We will secure funding for the Rainbow Hub Hydrotherapy Centre

We have obtained planning permission to develop a hydrotherapy centre on site. This will enhance the offer for children attending Rainbow Hub School and Nursery but will also provide the opportunity for children and adults with disabilities to enjoy the freedom of warm water. The centre has been designed with multiple changing spaces, full ceiling track hoisting throughout as well as a ‘Changing Places’ facility.

We will launch our ‘Making Waves Appeal’ to secure funding of £1m.

Rainbow Hub School will be registered in Autumn 2023 and will initially operate from one classroom within our existing nursery building. Building works are expected to finish in July 2024.

15 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023 - _ mati ae

Strategic Report Financial review | Financial position

Given the cost of living crisis we had fully expected a decline in donations, and we were delighted this was not the case. We remain extremely grateful to all our supporters because without them our work would not be possible.

We ended the year on a deficit of £70,723 (2022: £89,722). The cash balances as at 31 August 2023 were £166,239 (2022: £430,892) and the closing net assets were £1,115,624 (2022: £1,186,347).

The deficit this year was because of the significant investment into the feasibility of developing Rainbow Hub School. We funded architects, design consultants and planners to ascertain a full budget having secured a pledge of £5m to move forward with the development.

How we raised the money

How we spent the money

Events Charitable Activities Investment Income Donations

Reserves policy

It is the policy of the Charity to maintain unrestricted funds, adjusted for the property value less the associated borrowings, at a minimum level which equates to approximately three months unrestricted expenditure. This provides sufficient funds to cover management, administration, and support costs and to deliver services whilst applications for emergency funds are made.

Raising Funds Charitable Activities Depreciation Other

The Trustees review this policy on an annual basis.

Strategic Report Principal risks and uncertainties

Effective risk management is also key to successfully delivering our strategy and developing Rainbow Hub for a sustainable future.

The Trustees of Rainbow Hub ensure there is an up to date Risk Register and Risk Management Framework covering principle risks and uncertainties facing the Charity and focuses on key areas of finance; funding; management; governance; compliance; services; health and safety and safeguarding.

Identification of risk is delegated to the Chief Executive and senior leadership team who report risk management to Trustees for review and approval.

Principle risks and mitigating factors this year were:

Financial Security

Given the challenging economic climate, we anticipated a reduction in fundraising income but were pleased to see an unexpected increase in donations. However, we remain focussed on meeting the needs of the children and families we support in a sustainable way.

Ability to deliver our strategy

This year our focus was getting services back to pre-pandemic levels and ensuring that we could support as many children and families as possible. The development of Rainbow Hub School requires significant investment of both time and money. Whilst we anticipate the school to generate a surplus that can be re-invested into charitable activities, this needs to be managed carefully to avoid charity reserves being drained.

Finding the right team

Conductive Education originated in Hungary and many of the qualified therapists are Hungarian. Brexit and Covid-19 have resulted in difficulties in recruiting specialist staff. To mitigate this, we have made the decision to invest in existing staff, supporting them in their career progression and providing in-house training. An additional staff member has qualified as a Conductor this year, and another is due to qualify next year. We have also gained two Level 4 Assistants who can support and lead sessions, enabling growth.

We shifted our focus onto the more challenging income streams and ensured that nursery places were filled to generate income from the Local Authority. When considering risk, we were satisfied that we had sufficient levels of free reserves to fund any shortfall.

17 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Structure, Governance and Management

Governing document

The Charity is controlled by its Governing Document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Charity is governed by its Memorandum and Articles of Association with the activities of the organisation being entrusted to a Board comprising of at least three Trustees. The Trustees are drawn from different backgrounds both in business and as parents of children with disabilities, bringing a broad range of skills, experience and knowledge to Board deliberations.

Decision making

The Chief Executive works closely with the Senior Management Team who meet on a weekly basis. These meetings help inform the strategic direction and ensure effective management of the organisation. Close monitoring of services and finances and enable the Chief Executive to raise any relevant issues with the Board at the earliest opportunity.

There are clear lines of authority throughout the organisation with the Senior Management Team being accountable for staff in their department.

New Trustees are appointed by resolution of the Trustees, in accordance with the provisions of the Articles of Association. All new Trustees appointed in the year are familiarised with their statutory responsibilities, their role as Board members, the governance framework within Rainbow Hub, the work of the Charity and the risk environment. Ongoing training is arranged as and when identified.

Organisational structure

The Board of Trustees meets quarterly to set the direction and oversee the management and delivery of services. They delegate day to day management to the Chief Executive. Staff are periodically invited to attend Board meetings to present on their areas of work thus enhancing relationships between staff and Trustees and for Trustees to learn more about our services from those delivering them.

Trustees meet quarterly and review Key Performance Indicators. They sign off an annual financial budget and review progress against it through detailed management accounts.

A Management Board meets monthly and has delegated responsibility with clear terms of reference. Comprising of the Chair of Board of Trustees, the Chief Executive, the Office Manager and at least one other Trustee the Management Board supports the Chief Executive with day to day management. Meetings are also attended by our Senior Management Team, namely our Lead Conductor, Nursery Manager and Head of Fundraising.

18 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Reference and Administrative Details

Registered

Company number 06725399 (England and Wales)

Registered Charity number 1127498

Registered office

Rainbow Hub Salt Pit Lane Mawdesley Ormskirk Lancashire L40 2QX

Trustees

W Ainscough (Chairperson) KM Abbott (Treasurer) PJ Holmes LA Farrant (resigned 20/12/2022) A Farrell (resigned 19/6/2023)

J Smith ME Carter RE Fairclough MJ Price (appointed 20/9/2022) H Wellerd (resigned 20/9/2022)

Key Management

L Fahey (Chief Executive) K Gee (Office Manager) J Ashcroft (Lead Conductor) K Nelson (Head of Fundraising) K Plumb (Nursery Manager) M Berry (Headteacher)

Auditors

McMillan & Co LLP Chartered Accountants and Statutory Auditor 28 Eaton Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA

Bankers

Barclays Bank plc 38 Fishergate Preston PR1 2AD

National Westminster Bank plc 46 Market Street Chorley Lancashire PR7 2RZ

Statement of Trustees’ Responsibilities

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

In so far as the trustees are aware:

The trustees (who are also the directors of Rainbow Hub NW Limited for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

Auditors

The auditors, McMillan & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 29 January 2024 and signed on the board’s behalf by:

KM Abbott - Treasurer and W Ainscough - Chairman

20 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Report of the Independent Auditors to the Members of Rainbow Hub NW Limited

Opinion

We have audited the financial statements of Rainbow Hub NW Limited (the ‘charitable company’) for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

21 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Report of the Independent Auditors to the Members of Rainbow Hub NW Limited

Opinions on other matters prescribed

by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’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.

22 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Report of the Independent Auditors to the Members of Rainbow Hub NW Limited

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

23 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Report of the Independent Auditors to the Members of Rainbow Hub NW Limited

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditors’ 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Neil McMillan FCA (Senior Statutory Auditor) for and on behalf of McMillan & Co LLP Chartered Accountants and Statutory Auditor

28 Eaton Avenue, Matrix Office Park, Buckshaw Village Chorley, Lancashire, PR7 7NA

Date: 29 January 2024

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Statement of Financial Activities

for the year ended 31 August 2023

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2023 2022
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
Income and endowments from
Donations 2 308,229 52,195 360,424 280,678
Charitable activities
Charitable activities 5 194,569 - 194,569 96,914
Events 3 136,567 - 136,567 151,944
Investment income 4 681 - 681 700
Total 640,046 52,195 692,241 530,236
Expenditure on
Raising funds 6 125,595 - 125,595 157,648
Charitable activities
Charitable activities 7 534,190 58,218 592,408 415,693
Depreciation 35,635 (-) 35,635 33,677
Other 9,326 - 9,326 12,940
Total 704,746 58,218 762,964 619,958
Net income/(expenditure) (64,700) (6,023) (70,723) (89,722)
Transfers between funds 20 (230,777) 230,777 - -
Net movement in funds (295,477) 224,754 (70,723) (89,722)
Reconciliation of funds
Total funds brought forward 1,157,352 28,995 1,186,347 1,276,069
Total funds carried forward 861,875 253,749 1,115,624 1,186,347
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The notes form part of these financial statements

25 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Balance Sheet

31 August 2023

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2023 2022
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
Fixed Assets
Tangible assets 13 1,128,933 520,583 1,649,516 1,154,246
Current Assets
Debtors 14 37,556 - 37,556 53,023
Cash at bank and in hand 152,290 13,949 166,239 430,892
189,846 13,949 203,795 483,915
Creditors
Amounts falling
due within one year 15 (142,947) (280,783) (423,730) (110,821)
Net Current Assets 46,899 (266,834) (219,935) 373,094
Total Assets less
Current Liabilities 1,175,832 253,749 1,429,581 1,527,340
Creditors
Amounts falling due
after more than one year 16 (313,957) - (313,957) (340,993)
Net Assets 861,875 253,749 1,115,624 1,186,347
Funds 20
Unrestricted funds 861,875 1,157,352
Restricted funds 253,749 28,995
Total funds 1,115,624 1,186,347
----- End of picture text -----

The notes form part of these financial statements

The financial statements were approved by the Board of Trustees and authorised for issue on 29 January 2024 and were signed on its behalf by:

KM Abbott - Trustee

26 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Cash Flow Statement

for the year ended 31 August 2023

----- Start of picture text -----
2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 320,476 (89,562)
Interest paid (23,869) (12,204)
Net cash provided by/(used in) operating activities 296,607 (101,766)
Cash flows from investing activities
Purchase of tangible fixed assets (530,905) (16,902)
Interest received 681 700
Net cash used in investing activities (530,224) (16,202)
Cash flows from financing activities
Mortgage repayments in year (31,036) (37,298)
Net cash used in financing activities (31,036) (37,298)
Change in cash and cash equivalents in the reporting period (264,653) (155,266)
Cash and cash equivalents at the beginning of the reporting period 430,892 586,158
Cash and cash equivalents at the end of the reporting period 166,239 430,892
----- End of picture text -----

The notes form part of these financial statements

27 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Cash Flow Statement

for the year ended 31 August 2023

----- Start of picture text -----
1. Reconciliation of net expenditure to net cash flow from
2023 2022
operating activities £ £
Net expenditure for the reporting period (as per the Statement
of Financial Activities) (70,723) (89,722)
Adjustments for:
Depreciation charges 35,635 33,677
Interest received (681) (700)
Interest paid 23,869 12,204
Decrease/(increase) in debtors 15,467 (36,560)
Increase/(decrease) in creditors 316,909 (8,461)
Net cash provided by/(used in) operations 320,476 (89,562)
2. Analysis of changes in net funds/(debt)
At 1/9/22 Cash flow At 31/8/23
£ £ £
Net cash
Cash at bank and in hand 430,892 (264,653) 166,239
Total 430,892 (264,653) 166,239
Debt
Debts falling due within 1 year (37,000) 4,000 (33,000)
Debts falling due after 1 year (340,993) 27,036 (313,957)
(377,993) 31,036 (346,957)
Total 52,899 (233,617) (180,718)
----- End of picture text -----

The notes form part of these financial statements

28 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements for the year ended 31 August 2023

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.

Rainbow Hub NW Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recorded at historical cost unless otherwise stated in the relevant accounting policy note(s).

The presentational currency of the charity is pound sterling (£) and the amounts in the financial statements have been rounded to the nearest £1.

There are no material uncertainties about the charity’s ability to continue.

Going concern

The financial statements have been prepared on the going concern basis on the Trustees’ assumption that the Charity will continue to meet its obligations as they fall due. This depends on the Charity’s ability to raise sufficient finance to fund its unrestricted operations. Due to the nature of the Charity’s income, much of which is received from public donations, it is difficult to forecast a large proportion of the income with any degree of certainty. Current cash flow forecasts, prepared by the Trustees indicate that the Charity has operational funds for the next twelve months from the balance sheet date. The Trustees have taken steps to increase income, and reduce expenditure and are therefore confident that sufficient funds will be raised to enable the Charity to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the Charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is classified under headings of the Statement of Financial Activities to which it relates:

29 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

1. Accounting Policies - continued

Company status

The Charity is a company limited by guarantee. The directors of the company are the trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per director of the charity.

Allocation and apportionment of costs

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justified and consistent basis.

Tangible fixed assets

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

Freehold property - 2% on cost

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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.

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 to the Statement of Financial Activities in the period to which they relate.

Fixtures and fittings -

33% on cost and 10% on reducing balance

Taxation

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

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

30 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
2. Donations
2023 £ 2022 £
Donations and gifts 208,978 193,800
Trusts and grants 151,446 86,878
360,424 280,678
Grants received, included in the above, are as follows:
Steve Morgan Foundation 27,433 21,314
General 8,282 8,764
UK Heart Foundation - 3,000
Community Link Foundation 1,731 -
Proven Trust - 300
The National Lottery Community Fund - 10,000
The Halsall Foundation 30,000 15,000
The Holroyd Foundation 23,000 18,000
The Postcode Lottery 25,000 -
Red rose charitable trust - 1,000
The Rank foundation 500 -
D’Oyly Carte Charitable Trust - 3,000
St James’s Place Charitable Foundation 5,000 -
Skelton Charitable Trust - 1,500
Hemby Charitable Trust - 2,000
Cadent Foundation - 3,000
Chorley Building Society 250 -
Rainford Trust 5,000 -
Lloyds Bank Foundation 250 -
Screwfix Foundation 5,000 -
Awards For All 10,000 -
Spar Community Cashback 10,000 -
Total 151,446 86,878
----- End of picture text -----

31 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
3. Events
2023 £ 2022 £
Annual Balls 100,093 117,848
Ramble 11,531 15,703
Workoutathon 2,753 2,801
Others 22,190 15,592
Total 136,567 151,944
4. Investment income 2023 £ 2022 £
Deposit account interest 681 700
5. Income from charitable activities
2023 £ 2022 £
Nursery fees 154,225 50,828
Registration fees 27,696 22,678
Fun clubs 12,648 23,408
Total 194,569 96,914
6. Raising funds 2023 £ 2022 £
Staff costs 86,659 98,270
Advertising and promotion 1,350 1,081
Fundraising events 37,586 39,193
Support costs - 19,104
Total 125,595 157,648
7. Charitable activities costs
Direct Support costs
Costs (see note 8) Totals
£ £ £
Charitable activities 483,778 108,630 592,408
-
Depreciation 35,635 35,635
Total 519,413 108,630 628,043
----- End of picture text -----

32 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
8. Support costs Governance
Management Other costs Totals
£ £ £ £
- -
Other resources expended 9,326 9,326
Charitable activities 60,091 30,639 17,900 108,630
Total 69,417 30,639 17,900 117,956
9. Net income/(expenditure)
2023 2022
Net income/(expenditure) is stated after charging/(crediting): £ £
Auditors’ remuneration £1,565 1,250
Depreciation - owned assets 35,635 33,677
----- End of picture text -----

10. Trustees’ remuneration and benefits

There were no trustees’ remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

~~11. Staf costs costs~~

----- Start of picture text -----
11. Staf costs costs
2023 2022
£ £
Wages and salaries 478,297 391,682
Social security costs 31,785 25,823
Other pension costs 8,233 7,149
Total 518,315 424,654
The average monthly number of employees during the year was as follows:
2023 2022
Generating voluntary income 4 4
Charitable activities 19 10
Support 2 2
Total 25 22
----- End of picture text -----

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

33 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
12. Comparatives for the statement
Unrestricted Restricted Total
of financial activities fund funds funds
£ £ £
Income and endowments from
Donations 217,251 63,427 280,678
Charitable activities
Charitable activities 96,914 - 96,914
Events 151,944 - 151,944
Investment income 700 - 700
Total 466,809 63,427 63,427
Expenditure on
-
Raising funds 157,648 157,648
Charitable activities
Charitable activities 281,283 134,410 415,693
-
Depreciation 33,677 33,677
Other 12,940 - 12,940
Total 485,548 134,410 619,958
Net income (18,739) (70,983) (89,722)
Reconciliation of funds
Total funds brought forward 1,176,091 99,978 1,276,069
Total funds carried forward 1,157,352 28,995 1,186,347
----- End of picture text -----

34 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
13. Tangible fixed assets
Freehold Assets under Fixtures
property construction and fittings Totals
£ £ £ £
Cost
-
At 1 September 2022 1,200,596 447,182 1,647,778
Additions - 520,583 10,322 530,905
At 31 August 2023 1,200,596 520,583 457,504 2,178,683
Depreciation
At 1 September 2022 193,482 - 300,050 493,532
-
Charge for year 16,012 19,623 35,635
At 31 August 2023 209,494 - 319,673 529,167
Net book value
At 31 August 2023 991,102 520,583 137,831 1,649,516
At 31 August 2022 1,007,114 - 147,132 1,154,246
----- End of picture text -----

~~14. Debtors: amounts falling due within one year~~

----- Start of picture text -----
14. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 15,220 23,571
Prepayments and accrued income 22,336 29,452
Total 37,556 53,023
----- End of picture text -----

35 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
15. Creditors:
amounts falling due within one year 2023 2022
£ £
Mortgage (see note 17) 33,000 37,000
Trade creditors 31,229 19,928
Social security and other taxes 9,886 8,752
Accruals and deferred income 349,615 45,141
Total 423,730 110,821
----- End of picture text -----

Accruals and deferred income includes an accrual for building works carried out before the year end, and invoiced after the year end.

----- Start of picture text -----
16. Creditors:
Amounts falling due after more than one year 2023 2022
£ £
Mortgage (see note 17) 313,957 340,993
----- End of picture text -----

The mortgage is repaid at a quarterly amount of £4,108 and attracts interest at 2.7% per annum over the official Bank of England Base Rate.

----- Start of picture text -----
17. Loans
2023 2022
An analysis of the maturity of loans is given below: £ £
Amounts falling due within one year on demand:
Mortgage 33,000 37,000
Amounts falling between one and two years:
Mortgage - 1-2 years 33,000 37,000
Amounts falling due between two and five years:
Mortgage - 2-5 years 99,000 111,000
Amounts falling due in more than five years:
Repayable by instalments: Mortgage due over 5 years 181,957 192,993
----- End of picture text -----

36 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
18. Leasing agreements
2023 2022
Minimum lease payments under non-cancellable operating leases fall due as follows: £ £
Within one year 3,554 7,039
Between one and five years 1,946 4,795
Total 5,500 11,834
19. Secured debts
2023 2022
The following secured debts are included within creditors: £ £
Mortgage 346,957 377,993
----- End of picture text -----

The mortgage is secured by a fixed charge over the property of the Charity.

----- Start of picture text -----
20. Movement in funds
Net movement Transfers
At 1/9/22 in funds between funds At 31/8/23
£ £ £
Unrestricted funds
General fund 1,157,352 (64,700) (230,777) 861,875
Restricted funds
-
Family Days 1,600 (1,464) 136
The Outdoor Sensory Garden 4,395 5,000 (1,292) 8,103
Marketing Project 10,000 (10,000) - -
Hardship Fund 10,000 (4,290) - 5,710
Communication equipment 3,000 4,731 (7,731) -
- -
New school building 239,800 239,800
28,995 (6,023) 230,777 253,749
Total funds 1,186,347 (70,723) - 1,115,624
----- End of picture text -----

37 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
20. Movement in funds - continued
Incoming Resources Movement
Net movement in funds, included in the above are as follows:
resources expended in funds
£ £ £
Unrestricted funds
General fund 640,046 (704,746) (64,700)
Restricted funds
Family Days 10,000 (11,464) (1,464)
Support for Families in Merseyside and Cheshire 12,433 (12,433) -
CE Salary support 13,000 (13,000) -
The Outdoor Sensory Garden 5,000 - 5,000
Contribution Towards Laptops 300 (300) -
-
Marketing Project (10,000) (10,000)
Communication sessions 6,731 (6,731) =
-
Hardship Fund (4,290) (4,290)
Communication equipment 4,731 - 4,731
52,195 (58,218) (6,023)
Total funds 692,241 (762,964) (70,723)
----- End of picture text -----

38 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
20. Movement in funds - continued
Net movement
Comparatives for movement in funds
At 1/9/21 in funds At 31/8/22
£ £ £
Unrestricted funds
General fund 1,176,091 (18,739) 1,157,352
Restricted funds
-
Family Days 1,600 1,600
Active Movement Room 3,213 (3,213) -
The Outdoor Sensory Garden 8,000 (3,605) 4,395
Marketing Project 16,320 (6,320) 10,000
-
Early years provision 68,445 (68,445)
Nursery wages 4,000 (4,000) -
Hardship Fund - 10,000 10,000
Communication equipment - 3,000 3,000
99,978 (70,983) 28,995
Total funds 1,276,069 (89,722) 1,186,347
----- End of picture text -----

39 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

----- Start of picture text -----
20. Movement in funds - continued
Incoming Resources Movement
Comparative net movement in funds, included in the
resources expended in funds
above are as follows:
£ £ £
Unrestricted funds
General fund 466,809 (485,548) (18,739)
Restricted funds
-
Family Days 1,600 1,600
-
Support for Families in Merseyside and Cheshire 23,614 (23,614)
Active Movement Room - (3,213) (3,213)
CE Salary support 10,000 (10,000) -
The Outdoor Sensory Garden 3,813 (7,418) (3,605)
Marketing Project 10,000 (16,320) (6,320)
-
Early years provision (68,445) (68,445)
Nursery wages 1,400 (5,400) (4,000)
Hardship Fund 10,000 - 10,000
Communication equipment 3,000 - 3,000
63,427 (134,410) (70,983)
Total funds 530,236 (619,958) (619,958)
----- End of picture text -----

21. Related party disclosures

Donations totalling £5,025 (2022: £36,251) were made by Trustees to the Charity during the year. No conditions were attached to these donations.

Donations totalling £nil (2022: £15,493) were made to the Charity by organisations in which Trustees are directors.

No conditions were attached to these donations.

Donations totalling £5,500 (2022: £nil) were made by family members of the board of Trustees. No conditions were attached to these donations.

During the year, a Trustee loaned the Charity £660,000 which was fully repaid within the financial year. The loan was interest free and provided temporary cashflows to enable building work on the new school building to commence.

40 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023

Notes to the Financial Statements - continued for the year ended 31 August 2023

22. Restricted funds

Restricted funds are to be applied as follows:

Restricted Fund - Family Days Out

This is a new fund set up in the year and is for providing family days at the centre. The amount held in this fund as at 31 August 2023 was £136 (2022: £1,600).

Restricted Fund - Active Movement Room

This fund is to provide capital contribution towards the active movement room. The amount held in this fund as at 31 August 2023 was £nil (2022: £nil).

Restricted Fund - The Outdoor Sensory Garden

This fund is to provide support towards the cost of creating the Outdoor sensory garden. The amount held in this

fund as at 31 August 2023 was £8,103 (2022: £4,395).

Restricted Fund - Marketing Project

This fund is to provide support towards the marketing costs of the Charity. The amount held in this fund as at

31 August 2023 was £nil (2022: £10,000).

Restricted Fund - Early Years Provision

This fund is for the provision of a new nursery. Its purpose is to provide an early years service for children with

therapeutic needs whose parents require respite or work. The amount held in this fund as at 31 August 2023 was £nil (2022: £nil).

Restricted Fund - Early Years Staff

This fund is for providing staff for the Early Years Project. The amount held in this fund as at 31 August 2023 was £nil (2022: £nil).

Restricted Fund - Hardship Fund

This fund was set up last year and is for providing financial support to families in need. The amount held in this fund as at 31 August 2023 was £5,710 (2022: £10,000).

Restricted Fund - Communication equipment

This fund was set up last year and is for providing communication aides for the children. The amount held in this fund as at 31 August 2023 was £nil (2022: £3,000).

Restricted Fund - New school building

This is a new fund set up in the year and is for building the new school. The amount in this fund as at 31 August 2023 was £239,800 (2022: £nil), being the building costs to date of £520,583 less creditors of £280,783.

41 | Rainbow Hub NW Ltd Report of the Trustees for the year ended 31 August 2023