2025-03-31-accounts

RENAISSANCE FOUNDATION (A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Company Number: 05811643 Charity Number: 1128772 (England and Wales)

RENAISSANCE FOUNDATION (A company limited by guarantee)

Contents

	Page
Company Information	3
Trustees' Annual Report	4 - 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet Notes to the Financial Statements	8 9 - 16

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RENAISSANCE FOUNDATION (A company limited by guarantee)

COMPANY INFORMATION FOR THE YEAR END 31 MARCH 2025

Reference and administrative details

Charity number: 1128772 Company number: 05811643 Registered office: 146 New London Road Chelmsford England CM2 OAW

Directors

The directors of the charitable company are its trustees for the purpose of charity law. The directors serving during the year and since the year end were as follows:

Giles Drury Nigel Langstaff Patrick McCrae Caroline Hayes Dominic Cunliffe

Founder and Chief Executive

Sat Singh

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RENAISSANCE FOUNDATION (A company limited by guarantee)

THE REPORT OF THE TRUSTEES FOR THE YEAR END 31 MARCH 2025

The trustees are pleased to present their annual report, together with the financial statements of Renaissance Foundation, for the year ended 31 March 2025.

Objectives and activities

Renaissance Foundation was registered as a charity in 2009. Its charitable objects are set out in its governing document and these objects underpin its operational objectives. The trustees have paid due regard to the Charity Commission's guidance on public benefit when determining the activities of the charity.

Our work remains focused on two hard-to-reach groups: young carers and young hospital patients. Whilst each group has its own specific issues, research has shown that carers and patients have much in common, suffering from significant educational, social and emotional challenges, including low academic attainment, high unemployment rates, isolation, and lack of self-esteem. The young people supported by Renaissance Foundation are typically aged between 12 and 18 and are from London. We provide a threeyear programme that has a deep and long-lasting impact on the young people who participate in it.

Our intended short-term outcomes target improved: self-awareness, self-management, social awareness, relationship skills and responsible decision-making. Programme participants reported an improvement across all these categories, with improvements in self-management particularly strong at over 19%, and an average improvement across all five categories of over 13%. Our intended longer-term outcomes are to improve: confidence, well-being, educational achievement, careers readiness and leadership skills.

Renaissance Foundation has continued to build its broad network of relationships with high profile people from business, sport, the arts, academia and government, providing us with a wealth of options to use in our programme. These activities are designed to motivate, inspire, and enable our young people to imagine and build a better future.

Most participants in the charity’s programme are referred by well-respected authorities. We have forged strong links with schools as referral partners and have delivered a number of assemblies to showcase our work. In addition to this, we continue to foster strong relationships with London-based hospitals (including UCLH and Great Ormond Street Hospital) which provide referrals, alongside other leading organisations and charities supporting young carers.

Achievements and performance

We finished the year with 86 young people on the programme, up from 63 at March 2024. As noted last year, our referrals pipeline has been hampered somewhat by the intense pressure on school teams, who have been trying to manage academic recovery, attendance issues and mental health challenges, and hospitals, struggling with the lengthy backlogs caused by the pandemic. We continue to make our referrals and onboarding processes as efficient as possible, and to explore new sources of referrals, and aim to increase our participant numbers in the year ahead.

Our Youth Board, the "Renaissance Collective", comprising former participants on the charity's programme, continued to meet regularly to discuss issues, to contribute to improving and developing the programme, and to provide feedback to the executive and Board. We plan to have formal representation from the Youth Board at Board meetings in the year ahead. We also completed a pilot mentoring programme, in which seven alumni received up to a year of support from experienced professionals. The results were very encouraging, helping to improve the confidence and communication skills of the participants, and we plan to develop the programme further in 2025/26.

Our financial performance remained strong and we are grateful to key partners and funders for enabling us to remain a constant, reassuring and positive presence in the lives of our young people.

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RENAISSANCE FOUNDATION (A company limited by guarantee)

THE REPORT OF THE TRUSTEES FOR THE YEAR END 31 MARCH 2025

The year saw another full programme, including events at the Royal Collections Trust, the British Touring Car Championships, Silverstone, Buckingham Palace and, for a select group, the Nobel Peace Prize in Oslo. We had careers visits to a number of businesses, including Bloomberg, Clarksons and Little Dot Studios, and partnered with Bain & Company and 10X on another work experience programme, which saw seven young people complete a week of work experience.

Financial review

Cash donations increased from £227,752 last year to £297,768. We continue to build our fundraising pipeline and aim to grow our cash funding in the year ahead. We could not run the programme without the generous help of all our donors and are incredibly grateful for their support.

Cash expenditure reduced year-on-year to £308,732 (2024: £357,223), reflecting costs associated with the refurbishment of the charity's hub last year, and team vacancies in 2024-25. This was offset by an increase in depreciation from £51,938 to £101,236, reflecting a full year of depreciation on the hub. Cash increased from £161,876 at March 2024 to £197,205 at March 2025, reflecting a significant increase in deferred income. Our unrestricted non-capital funds at the end of the year were £88,349 (2024: £96,092).

Reserves policy

We aim over time to increase our free reserves to a minimum of six months' unrestricted expenditure, equating to approximately £180,000; this level of reserves would help the charity to manage fluctuations in funding over time.

Structure, governance and management

Renaissance Foundation is a company limited by guarantee, and its activities are governed by its articles of association. New trustees are elected by the existing board members. On appointment the new member receives an induction programme by way of one-to-one meeting with a trustee, working through a package of information, including the memorandum and articles of association, historical documents and Renaissance Foundation's business plan.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 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 published on 16 July 2014.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Approved by the Board of Trustees on 23 September 2025 and signed on their behalf by:

.......................... Nigel Langstaff Chairman

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RENAISSANCE FOUNDATION (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025 which are set out on pages 7 to 16.

Responsibilities and basis of report

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

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

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

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

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

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

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

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

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

.................................. Alex Stone FCCA

Edmund Carr LLP 146 New London Road Chelmsford CM2 0AW

2 October 2025

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RENAISSANCE FOUNDATION

(A company limited by guarantee)

Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 March 2025

Note Income from: 2 Grants and donations Donated services Investments Total income Expenditure on: 3,9 Raising funds Charitable activities Total expenditure Transfers between funds 9 Net movement in funds Reconciliation of funds Total funds brought forward Net income (expenditure)	£ 10,125 - - 10,125 - 10,425 10,425 (300) - (300) 300 Restricted funds	Unrestricted funds £ 287,643 - 4,320 291,963 91,846 307,697 399,543 (107,580) - (107,580) 432,044	2025 Total funds £ 297,768 - 4,320 302,088 91,846 318,122 409,968 (107,880) - (107,880) 432,344	2024 Total funds £ 227,752 264,781 2,766 495,299 80,979 328,182 409,161 86,138 - 86,138 346,206
Total funds carried forward 9	-	324,464	324,464	432,344

All results are derived from continuing activities. There were no recognised gains or losses other than those stated above. Movements in funds are disclosed in note 9 to the financial statements.

The notes on pages 9 to 16 form part of these financial statements.

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Balance Sheet As at 31 March 2025

Note Tangible fixed assets 6 Current assets Debtors 7 Cash at bank and in hand	236,115 2,636 197,205 2025 £	236,115 2,636 197,205 2025 £	2024 £ 335,952 1,148 161,876
Creditors: amounts falling due within one year 8	199,841 111,492		163,024 66,632
Net current assets		88,349	96,392
Net assets		324,464	432,344
Funds of the charity Restricted funds 9 Unrestricted funds 9		- 324,464	300 432,044
Total charity funds		324,464	432,344

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.

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 and authorised for issue by the directors on 23 September 2025 and signed on their behalf by:

…..........................

Nigel Langstaff Director

Registered Company number: 05811643 Registered Charity number: 1128772

The notes on pages 9 to 16 form part of these financial statements.

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

1 Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 (effective 1 January 2019) (Charities SORP FRS102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Legal Status

Renaissance Foundation is a charitable company limited by guarantee. It is incorporated in England and Wales and its registered address is 146 New Road, Chelmsford, England CM2 0AW. The company meets the definition of a public benefit entity under FRS 102.

Going Concern

The trustees are of the opinion that the charity has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.

1.2 Income

Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activities when received, unless it represents deferred grants (see note 1.7). Intangible income, such as donated professional services, is not included unless it represents goods or services which would otherwise have been purchased. Material gifts in kind are valued and brought in as income.

Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities.

1.3 Expenditure

The cost of raising funds represents the costs associated with attracting voluntary income and grants for the provision of services run by the charity.

Expenditure is recognised in the period in which it is incurred.

Charitable expenditure comprises direct expenditure including direct staff costs attributable to its activities. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of resources. Percentages for the current year are as follows:

Charitable activities 80% Raising funds 20%

Governance costs are those incurred in connection with the management of the charity’s assets, the running of the organisation and compliance with constitutional and statutory requirements.

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Notes to the Financial Statements (continued) For the Year Ended 31 March 2025

1.4 Tangible fixed assets and depreciation

Fixed assets are only capitalised if their value is above £500 and they have a life of more than one year.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, on a straight-line basis, over their expected useful lives on the following basis:

Office equipment, fixtures & fittings 33% per annum Computers & electronics 33% per annum Leasehold improvements 20% per annum or the lease term if shorter

1.5 Restricted funds

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets this criteria is allocated to the fund, together with a fair allocation of overheads and support costs where relevant.

1.6 Unrestricted funds

Unrestricted funds, including designated funds, are donations and other incoming resources received or generated for the charity's purposes and are expendable at the trustees’ discretion.

1.7 Deferred grants

Grants of a revenue nature are credited to incoming resources in the period in which they meet the definition of a receivable. Grants received in advance for specified future periods are carried forward as deferred income.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount due.

1.9 Creditors

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

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Notes to the Financial Statements (continued) For the Year Ended 31 March 2025

2 Income

From grants and donations Childhood Trust Pen Trust Rumi Foundation The Swire Charitable Trust The Tallow Chandlers' Company Investec Autumn Stone Foundation Wecharity The 29th May Charitable Trust Apex Partners Foundation Merchant Taylors' Foundation	Restricted £ - - - - - - - - - - 8,000	Unrestricted £ 50,000 35,000 25,000 20,000 10,000 8,000 7,500 5,000 5,000 5,000 -	2025 Total £ 50,000 35,000 25,000 20,000 10,000 8,000 7,500 5,000 5,000 5,000 8,000
Other donations	2,125	117,143	119,268
From investments Bank interest From grants and donations Rumi Foundation Pen Trust Autumn Stone Foundation New Era Childhood Trust Wecharity DVS Foundation Cherry Family Foundation Greville Waterman	10,125 - - 10,125 Restricted £ - 5,000 - - - - - 10,000 -	287,643 4,320 4,320 291,963 Unrestricted £ 50,000 24,500 25,000 25,000 24,470 15,000 10,757 - 5,000	297,768 4,320 4,320 302,088 2024 Total £ 50,000 29,500 25,000 25,000 24,470 15,000 10,757 10,000 5,000
Other donations	1,900	31,125	33,025
From donated services and assets Overbury Fit Out Expert Morgan Lovell Oktra Other From investments Bank interest	16,900 - - - - - - - - 16,900	210,852 207,957 9,120 24,000 17,659 6,045 264,781 2,766 2,766 478,399	227,752 207,957 9,120 24,000 17,659 6,045 264,781 2,766 2,766 495,299

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RENAISSANCE FOUNDATION

(A company limited by guarantee)

Notes to the Financial Statements (continued) For the Year Ended 31 March 2025

3 Expenditure

3 Expenditure
Direct costs Project costs Contractors Salaries Staff and volunteer expenses Subscriptions Indirect costs Personnel Premises Depreciation Office overheads Other operating costs Governance costs (see below)	Raising funds £ - - 50,800 - 3,649 54,449 11,813 2,163 20,247 2,625 178 372 37,397	Charitable activities £ 34,100 - 130,841 214 3,372 168,527 47,252 8,651 80,989 10,501 713 1,488 149,595	2025 Total £ 34,100 - 181,641 214 7,021 222,976 59,065 10,814 101,236 13,126 891 1,860 186,992
Total expenditure	91,846	318,122	409,968
	Raising	Charitable	2024
Direct costs Project costs Contractors Salaries Staff and volunteer expenses Subscriptions Indirect costs Personnel Premises Depreciation Office overheads Other operating costs Governance costs (see below) Total expenditure	funds - - 48,165 - 3,562 51,727 7,335 5,753 10,388 5,216 185 375 29,252 80,979	activities 36,436 - 172,927 77 1,740 211,180 29,339 23,010 41,550 20,866 739 1,498 117,002 328,182	Total £ 36,436 - 221,092 77 5,302 262,907 36,674 28,763 51,938 26,082 924 1,873 146,254 409,161
Governance costs include the independent examiner's fee of £1,860 (2024: £1,860).

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Notes to the Financial Statements (continued) For the Year Ended 31 March 2025

4 Staff costs and numbers

Staff costs were as follows: Salaries and wages Social security costs Pension costs (defined contribution)	2025 £ 218,632 17,274 4,800	2024 £ 232,268 20,166 5,332
	240,706	257,766

No employee earned more than £60,000 during the year.

Trustees do not receive any remuneration or fees and no trustees were reimbursed for expenses during the year. Total key management personnel remuneration benefits in the year totalled £132,553 (2024: £180,631).

The average number of employees during the year was as follows:	2025 No. 6.3	2024 No. 6.3

5 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

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RENAISSANCE FOUNDATION

(A company limited by guarantee)

Notes to the Financial Statements (continued) For the Year Ended 31 March 2025

6 Tangible fixed assets

Office equipment, fixtures & fittings £ Cost At 1 April 2024 43,459 Additions - Disposals - At 31 March 2025 43,459 Depreciation At 1 April 2024 7,243 Charge for the year 14,486 Disposals - At 31 March 2025 21,729 Net book value At 31 March 2025 21,730 At 31 March 2024 36,216 7 Debtors Prepayments 8 Creditors: amounts falling due within one year Accruals Deferred income	Computers & Leasehold electronics improvements £ £ 20,277 335,207 - 1,399 - - 20,277 336,606 13,847 41,901 2,801 83,949 - - 16,648 125,850 3,629 210,756 6,430 293,306 2025 £ 2,636 2,636 2025 £ 32,102 79,390 111,492	Total £ 398,943 1,399 - 400,342 62,991 101,236 - 164,227 236,115 335,952 2024 £ 1,148 1,148 2024 £ 41,632 25,000 66,632

Deferred income relates to grants received to support projects in future periods. All income deferred at 31 March 2024 was released in the year ended 31 March 2025.

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

9 Movements in funds

9 Movements in funds
Restricted funds (see below): Merchant Taylors' Foundation Other Total restricted funds Unrestricted funds: General unrestricted funds Total unrestricted funds	At 1 April 2024 £ - 300 300 432,044 432,044	Income £ 8,000 2,125 10,125 291,963 291,963	Expenditure £ (8,000) (2,425) (10,425) (399,543) (399,543)	Transfers £ - - - - -	At 31 March 2025 £ - - - 324,464 324,464
Total funds	432,344	302,088	(409,968)	-	324,464

Funding from the Merchant Taylors' Foundation is to support four young carers or patients in the first year of their programme. Other restricted funding is to support specified elements of the charity's projects.

Restricted funds (see below): Cherry Family Foundation Pen Trust Other Total restricted funds Unrestricted funds: General unrestricted funds Total unrestricted funds Total funds	At 1 April 2023 £ - 9,000 - 9,000 337,206 337,206 346,206	Income £ 10,000 5,000 1,900 16,900 478,399 478,399 495,299	Expenditure £ - - (300) (300) (408,861) (408,861) (409,161)	Transfers £ (10,000) (14,000) (1,300) (25,300) 25,300 25,300 -	At 31 March 2024 £ - - 300 300 432,044 432,044 432,344

Funding from the Cherry Family Foundation and the Pen Trust relates to refurbishment costs for the charity's new youth hub. The transfer from restricted to unrestricted funds is in respect of expenditure on the hub which has been capitalised as leasehold improvements. Other restricted funding was given to support various specified outreach projects.

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RENAISSANCE FOUNDATION (A company limited by guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

10 Analysis of net assets (between restricted and unrestricted funds)

31 March 2025 Restricted Unrestricted 31 March 2024 Restricted Unrestricted	Tangible fixed assets - 236,115 236,115 Tangible fixed assets - 335,952 335,952	Other net assets - 88,349 88,349 Other net assets 300 96,092 96,392	Total - 324,464 324,464 Total 300 432,044 432,344

11 Operating leases

Total rental payments due under operating leases in respect of land and buildings are as follows:

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2025 2024
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Within 1 year Within 2 to 5 years	£ 25,000 38,699 63,699	£ 8,384 76,438 84,822

12 Related party transactions

There were no related party transactions during the year that require disclosure.

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