**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|
2
**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
3
**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.
4
**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
5
**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
6
## **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.
7
## **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.
8
## **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.
9
**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.
10
## **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**|
11
## **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).||||
12
## **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.
13
## **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.
14
## **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.
15
**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:
**----- Start of picture text -----**
2025 2024
**----- End of picture text -----**
|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.
16