Company Registered Number: 06546261 Charity Registered Number: 1129683 THE REACH FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 AE3J118R 2810512025 COMPANIES HOUSE A15
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THE REACH FOUNDATION IA Company Llmited by Guarantee) CONTENTS Page Reference and Admlnlstratlve Detalls of the Charity, Its Trustees and Advlsers Trustees. Report 2-11 Trustees. Responslbilities Statement 12 Independent Auditor's Report on the Flnanclal Statements 13-15 Statement of Flnanclal Actlvities 16 Balance Sheet 17 Statement of Cash Flows 18 Notes to th? Financlal Statements 19-30
THE REACH FOUNDATION (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustees J McGoh (Chair of Trustees) J Acantilado (appointed 2 October 2024) N Anum (resigned 10 December 2024) J Baxter L Gledhill (resigned 3 October 2024) N Jennings A Mroz T Papavranoussis (appointed 15 July 2024) M Plen (appointed 7 October 2024) T Roberts J Tacon M Trebilco Company reglstered numbor 06546261 Charity registered number 1129683 Registered offlce Floor 5 Axiom House Feltham TW13 4AU Independent auditor MHA 6th Floor 2 London Wall Place London EC2Y SAU Page 1
THE REACH FOUNDATION (A Company Llmited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Twstees present their annual report together with the audited financial statements of the Charity for the year ended 31 August 2024. The Annual Report sepies the purposes of both a Trustees, report and a Directors. port under company law. The Trustees confirm that the Annual Report and financial statements ofthe charitable company comply with the current slatutory requirements, the requirements of the charitsble company's governing document and the provisions of the Statement of Recommended Practice {SORP) applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletins 1 and 2. Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of rnedium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and activities . Pollcles and oblectlves The Reach Foundation exists to ensure that every child can enjoy a life ofchoice and opportunity. The Foundation believes Ihat great schools are necessary but not sufficient to achieve this. Over the last e1ve years we have shown that schools can foster seamless pipelines of cradle to career support. The Foundation calalyses action, cultivates leaders and connects people and institutions to foster the development of cradle to career models of support for babies, children and young people. Locally, in Feltham, the Foundation works in partnership with the local community, existing institutions and local professionals to deliver an integrated pipeline of support for children and families that complements the work of local schools. The Feltham Convening Partnership - a cross-sector community partnership to improve outcomes for babies, children and young people - alongside our sister organisation, Reach Schools, represent our local 'cradle to careerf model. The Foundation is now working nationally to cultivate, connect and catalyse leadership. This includes delivering four regional leadership programmes. in Devon and Cornwall. the West Country. Yorkshire and the East of England, an aspiring Trust leader programme, and a senes of institutional partnerships that are supporting the ' development of cradle to career models. In September 2024 Ihere were more than 50 of these partnerships all around the country. The Foundation continues to foster innovation to ensure babies, children and young people growing up in cornmunities, which have been historically underserved or disadvantaged, are better supported. The programme that launched lastyear, 'Languages forAII', is now up and running in the borough of Hounslow and the Foundation is working on setting up a degree programme to support the nOnraduate workforce and accelerate their career development. Page 2
THE REACH FOUNDATION IA Company Limlted by Guarantee TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and aclivities (continued) b. Strategles for achieving objectives The Charity seeks to enact systems change through local action. We identify and nurture community leaders who create the conditions for others to flourish. We have identified the following ingredients to develop cradle to career models.. Strong leadership that guides vision, builds trust and fosters collaboration., A skilled, motivated workforce is critical to delivering high quality support., Access to fresh ideas and evidence informed emergent practices; and Dedicated investment to strengthen l¢xal systems. Our theory of change focuses on cultivating the workforce and leadership required for cradle to career models to thrive, connecting people and organisations to lead change locally, regionally and nationally, and catalysing local cradle to career models of support. c. Activities undertaken to achieve objectlves In order to deepen our impact in Feltham.. Our team have been seconded to lead the development of Parent and Infant Relationships Service as part of the Family Hubs programme in Hounslow We have continued to build a pipeline of workforce developmenl in Feltham., The Foundation has developed the collective impact work within the Feltham Convening Partnership., We have had representation on multiple local strategic and operational boardslcommittees, for example: Hounslow's Early Help Partnership, Localities Community Hub Project Board, CYP Scrutiny Panel and the Parent Carer Forum., and There has been work to further develop the Languages for All initiative in Hounslow, to ensure more young people in the borough can study languages at A-level and beyond. To grow our impact beyond Feltham.. Our team delivers aspiring Headteacher programmes (the X100s) across a number of regions around the country., We deliver an aspiring Trust Leader programme focused on the concept of'breakthrough, leadership of Trusts. We run the Cradle to Career partnership, a bwo-year structured programme that supports groups of schools to build the coherence of the educational offer in their communities. d. Grant-making policies The Foundation does not currently make grants and therefore has not formulated a policy in this area. e. Volunteers The Reach Foundation is not currently working with any volunteers. Page 3
THE REACH FOUNDATION (A Company Llmited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and activities {continued) f. Maln aetlvltles undertaken to further the Charlty's purposes for the publlc beneflt Over the course of this year, the Foundation has: Integrated our perinatal offer into the Local Authority's Family Hubs 'Start for Life. service. as the Parent and Infant Relationship Service (PAIRS)., Expanded our Foundation Degree offer for local practitioners to include a Special Educational Needs In Practice course (Kingston University), wilh staffing and recruitment completed for a September 2024 siart., Continued to convene over 100 cross-sector stakeholders on the Feltham Convening Partnership's priority areas and train young leaders., Embedded a structured programme of support for schools and Trusts interested in developing their own Cradle to Career model, and Delivered successful cohorts of'south West 100, {SW100) and added new x100 programmes in Yorkshire and the West Country. Page 4
THE REACH FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and performance a. Key performance Indlcators Dlrect Delivery in Feltham Successfully integrated our perinatal offer into the Local Authority's Family Hubs'start for Life, service, and recruiled a number of key roles to the Parent and Infant Relationship Service (PAIRS) team including.. the PAI RS Lead, a Workstream Development & VIG Specialist. Parent Infant Psychotherapists and PAIRS support worker. Continued to deliver and expand Dads, Group, Baby Massage, Baby and Toddler TLC groups, Stay & Play and Family Links courses in order to improve access and availability across the local area and in all three Hounslow Family Hubs. Grew and embedded our Early Years, workforce development pipeline by delivering Kingston University's Early Years Foundation Degree, adding a Level 2 Childcare diploma course to enable progression for Level 1 learners, and introducin9 Kingston's SEN In Practice Foundation Degree. Engaged directly with 86 young people from S local secondary schools in a range of programmes, including the Summer Leaders & Researchers Programme,. the Hawk Apprenliceship Training Programme., community organising with Citizens UK., and alumni activities. Convened 30 local community representatives in monthly meetings to explore setting up a Feltham Town Council,. connected with external experts lo help co<reate a manifesto and plan a local engagement campaign. Collective Impact in Feltham The Feltham Convening Partnership {FCP) reconstituted the re Planning Team and reconfi9ured Working Groups around the Partnership's converging priorities.. post-16 opportunities, early years and mental health. FCP'S activities for the year included.. establishing a new local Advisory Board,. delivering the Hawk Apprenticeship Training programme for the 2nd year in 3 secondary schools,. facilitating a Primary Mental Health Cluster., training 19 young leaders and researchers in a paid summer programme,. incubating Languages for All to launch in September 2024,. forming a 'new' Post-16 Special Educational Needs and Disabilities (SEND) Working Group io specifically explore post-school pathways for young people with SEND., and undertaking a data review. School and Trust Leadership Development Programmes Trained and developed a further 19 primary and secondary school leaders in the third cohort of SW100, taking the total number of aspiring headteachers who have completed the programme so far to 55. Partnered with school Trusts in Yorkshire and the West Country to create 'Yorks100' and 'West100' leadership programmes for aspiring school leaders. Recruited inaugural cohorts for both programmes of 15 and 12 aspiring headteachers each. Developed LeadingTrusts, a new leadership programme for aspiring school Trust CEOS. Recruited inaugural cohort of 16 people to join and complete the programme. Built new partnerships in the East of England to launch a new'East100' programme from September 2024. Cradle to Career Partnership Supported 30 groups of schools and Multi-Academy Twsts through a programme of support to develop cradle to career models of support for babies, children and young people. grounded in great schools. Recruited an additional 40 groups of schools and Trusts to join the Cradle to Career Partnership from September 2024. Page 5
THE REACH FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Achievemenls and porformance (contlnued) b. Review of activities Reach Foundation Feltham workstream highlights The Foundation marked the end of our multi-year partnership with Save the Children UK in May 2024 by celebrating the Feltham Early Learning Community's achievements with stakeholders and reflecting on progress and the sustainability of the work The charity esiablished and facilitated three Family Hubs, Parent Carer Panels {PCPs). which have met bi- monthly across Ihe borough attracling a diverse range of parents including dads, young parents and those for whom English is not their first language. Over the year, the families have contributed to service improvements for Health Visiting, Talking Therapies and Speech and Language Therapies. Information sharing is the other role of the PCPS, so they have received updates in early education funding changes, local resources and activities for families. Eight new Early Years educators started the Early Years Foundation Degree in September 2023, from eight different local settings, and the same number of students successfully progressed to the 2nd year of the courselLevel 5. We recruited seven SEND educators to start the Special Education Needs and Inclusive Provision ISENIP) Foundation Degree In September 2024. During July and August 2024, we delivered a wide range of accessible activities as part of our Summer holiday transition programme for children and families, with over 250 attendances, and 22 families on average per activity. Feltham Convenlng Partnershlp (FCP) hlghllghts Within our Primary Mental Health Cluster (PMHC), 90'h of participants agreed or strongly agreed that the PMHC meetings were useful for their professional practice., 70'/o of members agreed or strongly agreed thal the PMHC has strengthened their capacity to support the mental health needs of their school community: and 70 /0 of members agreed or strongly agreed that they have connected with new people as a result of attending the PMHC meetings (30°/o neither agreed nor disagreed). From our Young Leaders & Researchers activity, 19 students successfully completed the FCP summer programme and have already been invited to participate in national opportunities from September 2024. Our Evaluation Partner, Kingston University, compiled an annual progress report (due for publication in November 2024), that specifically focused on exploring different approaches to data sharing across UK collective impact initiatives. The report included analysis from three case studies and a wider data review conducted across seven schools in Feltham. There were three main recommendations for FCP on data sharing. structure and governance, and wider impact. School and Trust leadership development programmes Recognising the crucial role played by school and Twst leaders in enabling all children to enjoy lives of choice and opportunity, we placed significant energy in 2023124 towards growing our leadership development offer. Having worked with a group of partner school Trusts to develop and trial the 'SW100' {a leadership development model grounded in strong commitment to children experiencing disadvantage- strong regional and local contextual understanding., and building relationships beeen cohort members) we are now set-up for national growth having launched the 'Yorks100' and 'West100' programmes and preparing to launch the 'East100' in September 2024 . We have also been able to build on learning from the 'SW100' to build LeadingTrusts- a programme for aspiring school Trust CEOS. Like 'SW100', the inaugural programme cohort launched in the South West of England with new cohorts to be recruited - a second in that area, and our first national cohort. These new cohorts will continue to be locally rooted and nationally connected. We build strong relationships beeen participants and across the Iwo cohorts, such that they are set-up to become breakthrough Trust CEOS. Page 6
THE REACH FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUEO) FOR THE YEAR ENDED 31 AUGUST 2024 Achlevements and performance (contlnued) Cradle to Career Partnership Over the course of 2023124, we supported 18 Cradle to Career Partners to make substantial progress in the development of their Cradle to Career models of support. The partners worked to increase the educational coherence, relationships coherence and local system coherence of their offer to children in their communities. This has led to partners seeing significant improvement in multiple areas of school life, from numbers of children accessing high quality nursery education to improved attendance. We also re-designed the structure of our support based on feedback from partners In order to make the programme more accessible for a wider range of partners. We then recruited an additional 30 schools or groups of schools to join the Cradle to Career in September 2024, creating an overall partnership of around 60 partners across the country, from Middlesbrough in the North East to Newquay in the South West. Page 7
THE REACH FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and perforniance (continued) c. Fundraising activities and income generation We have not undertaken any direct fundraising from the general public. Our funding is primarily derived from income that is earned from delivering our programmes, grants from Trusts and Foundations, our partnership with Save The Children, and individual donors. Flnaneial review a. Going concern After making appropriate enquiries, the Truslees have a reasonable expectation thai the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves pollcy The Trustees consider the level of reserves on a regular basis and are satisfied these are sufficient as at 31 August 2024. The level of reserves shown at year end within these financial statements reflects the approach to income recognition and accruals accounting that is followed by charilable entities, It includes funds that have been received during the 2023124 financial year, to be put towards expendilure on planned core activities within the upcoming financial period, and therefore a portion of these reserves is designated to be spent in 2024125. c. Prlnclpal rlsks and uncertalntles The Trustees have assessed the major risks to which the charity is exposed, in particular, those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Structure, governance and management a. Con8tltutlon The Reach Foundation is registered as a charitable company limited by guarantee ar)d was set up by a Trust deed. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Page 8
THE REACH FOUNDATION (A Company Llmited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Structure, governance and management (continued) c. Organisational structure and declslon-making policies The Trustees met as a Board five times,during the year. Changes in the Board are set out on page 1. Tthe Board also continued lo benefit from the work of tsvo Committees to provide more detailed challenge and support on key areas of the charity's programmatic delivery. Ed Vainker is the Chief Executive Officer (CEO). The Trustees have delegated the day-to4ay management of the Reach Foundation to Ed Vainker and his Executive leadership team. The CEO attends the Board meets'ngs. All Trustees give of their time freely and no Trustee remuneration was paid during the year. d. Policles adopted for the Induction and training of Trustees New Trustees meet wilh the CEO, the Chair of the Foundation, and governance professional to discuss their role and responsibilities. As part of their onboarding process the Trustees receive a governance handbook and induction pack from the governance professional. This gives an opportunity to answer any questions and clarify the content of any written documentation circulated to the new Trustee. The Chief Executive ensures Trustees are kept up to date with any developments in law changes in conjunction with the clerk and this is achieved through briefings at the Board meetings and circulated written information. •. Pay pollcy for key management personnel The Trustees consider the CEO and the Executive Directors to represent the Executive leadership team of The Reach Foundation. Changes to the salary of senior members of staff take place after their annual Performance management reviews. It is determined by the Chair of Trustees in coordination with a committee of other Trustees. Pay rises for all staff are considered by Trustees f. Related party relationships The Foundation has a Service Level Agreement (SLA) with the Reach Academy Trust (now renamed 'Reach Schools,) in order to access human resources and services. Page 9
THE REACH FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Plans for future perlods Our priorities in Feltham for the coming year are to.. Continue to successfully deliver our commissioned work for the London Borough of Hounslow's Family Hubs model, and contribute as required to the evaluation Pfocess and sustsinability of the policy (beyond the current 2025 deadline); Support existing Eady Years (EY) and SENIP Foundation Degree cohorts lo successfully graduate in July 2025, and plan for the expansion of our workforce developrnent offer by explorin9 the creation of a Public Sector Higher Education Institution (HEI)., Support a successful roll-out of Languages for All for its pilot intake of students,, and Continue to campaign for better youth provision and a Youth Zone in Feltham through our Citizens UK alliances and local neOrkS. School and Trust Leadershlp Programme8 During the 2024125 academic and financial year, we will.. Run the following school leadership programmes: cohort 4 of'SW100'; cohort 2 of'West100'; cohort 2 of 'Yorks100' and cohort 1 of'East100'; Launch the first cohort of the 'Pembs50', in partnership with Pernbrokeshire County Council, to build their pipeline of future headteachers., Support alumni of our programmes into headship., Develop a partnership with school Trusts and local authorities to launch a 'GM100' programme for aspiring school leaders in Greater Manchester., and Run cohort 2 of the LeadingTrusts programme (more than doubling the cohort size) for aspiring Trust CEOS, comprising a SW group and a national group. Cradle to Career Partnershlps During the upcoming academic and financial year, we will: Work with a total of 60 partner schools and Trusts. Continue to develop our understanding of how schools and school Trusts can play an effective role as anchor institutions in their communities and increase the educational, relationships and local system coherence of their offer to children; and Continue to share with the sector learning from the Cradle to Career Partnership about the role of schools and Trusts in providing long-term, relational support for children and families. Members, liablllty The Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. Page 10
THE REACH FOUNDATION (A Company Llrnited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Disclosure of inforniation to auditor Each of the persons who are Trustees at the time when this Trustees, Report is spproved has confirmed that.. so far as that Truslee is aware, there is no relevant audil information of which the charity'8 auditor Is unaware, and that Trustee has taken all the steps Ihat oughl lo have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Approved by order of the members of the board of Trustees and signed on their behalf by: (IWL J McGoh Trustee Date.. 2810512025 Page 11
THE REACH FOUNDATION (A Company Limited by Guarantee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees .{who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied thal they give a true and fair view of the state of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial siatements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principle5 of the Charilies SORP (FRS 102),. make judgements and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards {FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records thal are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any lime the financial position of the Charity and enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on its behalf by.. (I J McGoh Trustee Date.. 2810512025 Page 12
THE REACH FOUNDATION (A Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REACH FOUNDATION ICONTINUED Oplnion We have audited the financial statements of The Reach Foundation (the 'Charity'> for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, {Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Charity's affairs as at 31 August 2024 and of its incoming resources and applicaiion of resources, including lis income and expenditure for the year then ended., have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the reqU1MentS of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those Stsndards are further described in the Auditor's 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 United Kingdom, including the Financial Reporting Council'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. Concluslon8 relatlng to golng concern In auditing the financial statements, we have concluded that the Trustees. use of the going concern basis of accounting in.the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as going concern for a period of at least e1ve 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 sects'ons of this report. Other Informatlon The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contsined within the Annual Report, Our opinion on the financial statements does not cover the other information and, except to the extent otheiSe explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the fjnancial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we a required to report by exception Page 14
THE REACH FOUNDATION IA Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REACH FOUNDATION (CONTINUED) We have nothing to report in respect of the following malters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion- the information given in the Trustees, Report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounts'ng records and retums., or we have not received all the information and explanations we require for our audit. Responslbilities of Trustees As explained more fully in the Statement of Trustees, Responsibilities, the Trustees (who are also the Directors of the Charity 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 Truslees determine is necessary to enable the preparation of financial statements that are free from rnaterial misstatement, whether due to fraud or error. In preparing the financial staternents, 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 Charity or to cease operations. or have no realistic allernative but to do so. Audltor responsibilities for the audit of the financlal statements We h8ve been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Page 14
THE REACH FOUNDATION (A Company Llmited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE REACH FOUNDATION (CONTINUED) Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misslatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecting irregularities, including fraud is detailed below.. Obtaining an understanding of the legal and regulatory frameworks that the entity operates in, focusing on those laws and regulations that had a direct effect on the financial statements., Enquiry of management to identify any instances of known Of suspected instances of fraud., Enquiry of management and those charged with governance around actual and potential litigation and claims., Enquiry of management about any instances of non-compliance with laws and regulations: Performing auditwork over the risk ofmanagement override ofcontrols, including Ihe testing ofjournal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions oulside the normal course of business and reviewing accounting estimates for bias: Reviewing minutes of meetings of Ihose charged with governance., and Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Because of the inherent limilations of an audil, there is a risk that we will not delect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slatemenis, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This descriplion forms part of our Auditor's Report. Use of our report This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity's Trustees those rnatters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its Members, as a body, for our audit work, for this report, or for the opinions we have formed. Rakesh Shaunak FCA Statutory Auditor London, United Kingdom Date.. 28 May 2025 MHA is the trading name of MHA Audit Services LLP. a limited liability partnership in England and Wales (registered number OC455542). Page 15
THE REACH FOUNDATION (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Restrlcted funds 2024 Total funds 2024 Total lunds 2023 Note Income from: Donations and legacies 1,174 1,174 20.298 Charitable activities 2,308,430 428,072 2,736,502 2,324,489 Total Income Expenditure on: 2 309 604 428 072 2 737 676 Charitable activities 2,126,133 448,758 2,574,891 2,869, 183 Total expenditure 2 126 133 2 574 891 2 869 183 Net movement In funds Reconciliation of funds: Total funds brought fopward 1,375,295 214,596 1,589,891 2,114,287 Net movement in funds 183,471 (20,686) 162,785 (524,396) Total funds carried forward The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing operations. The notes on pages 19 to 30 form part of these financial statements. Page 16
THE REACH FOUNDATION (A Company Limited by Guarantee) REGISTERED NUMBER: 06546261 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Current assets Debtors 11 240,720 340. 589 Cash at bank and in hand 16 1,664,207 1,492,509 1.904,927 1,833,098 Creditors: amounts falling due within one y&ar 12 {152,251) (243,207) Net current assets 1,752,676 1.589,891 Total net assets Charlty funds Restricted funds 13 193,910 214,596 Unrestricted funds 13 1,558,766 1,375,295 Total funds The ents'ty was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity to obtain an audit for Ihe year in question in accordance with sects'on 476 of the Companies Act 2006, However. an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entits'es subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Page 17
THE REACH FOUNDATION (A Company Limlted by Guarantee) REGISTERED NUMBER: 06546261 BALANCE SHEET AS AT 31 AUGUST 2024 J McGoh Trustee Date.. 2810512025 The notes on pages 19 to 30 form part of these financial statements. Page 17
THE REACH FOUNDATION (A Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Note Cash flows from operating activities Net cash used in operating activities 15 171,698 42.521 Change In cash and cash equlvalents In the year 171,698 42,521 Cash and cash equivalents at the beginning of the year 1,492,509 1,449,988 Cash and cash oqulvalents at the ond of the y•ar The notes on pages 19 to 30 form part of these financial statements Page 18
THE REACH FOUNDATION (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General information The Reach Foundation is a charitable company limited by guarantee registered with the Charity Commission (Charity Registered Number.. 1129683) and the Registrar of Companies (Company Registered Number. 06546261) in England and Wales. The address of the registered office is given in the Charity information on page 1 of these financial stalements. The nature of the Charity's operations and principal activities are detailed within the Trustees Report. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless othep4vise stated. Accountlng pollcie8 2.1 Basls of preparation of financial statements The financial statements 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 Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial Statements have been presenied in pounds sterling, which is also the functional currency of the Charity and are rounded to the nearest pound. 2.2 Going ¢oncern The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessmenl in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balan Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Vthere entitlement occurs before income is received, the income is accrued. Page 19
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2024 Accounting policles (contlnued) 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocaled directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis Consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Debtors Trade and other debtors are recognised at the settlement amounl after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlemenl, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Vvhere the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.8 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 20
THE REACH FOUNDATION (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (continued) 2.9 Financial Instruments The Charity does not have a material holding in complex financial instruments. The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the Charity are as follows.. Debtors- trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 11. Prepayments are not financial instruments. Cash at bank- is classified as a basic financial instrument and is measured al face value. Liabililies- trade creditors, accruals and other creditors will be classified as financial instrumenls, and are measured at amortised cost as detailed in Note 12. Taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument. 2.10 Operating leases Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term. 2.11 Penslons The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 2.12 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 are funds which are to be used in accordan with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial siatements. The level of reserves shown at year end within these financial statements reflects the approach to income recognilion and accruals accounting that is followed by charitable entities. It includes funds that have been received during the 2023124 financial year, to be put towards expenditure on planned core activities within the upcoming financial period, and therefore a portion of these reserves is designated to be spent in 2024125. Page 21
THE REACH FOUNDATION IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Donations UnTrstncted funds 2023 Total funds 2023 Donations Income from charitable acllvltles Unrestrlcted Restrlcted funds funds 2024 2024 Total funds 2024 Charitable activities Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Charitable activities Page 22
THE REACH FOUNDATION IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from charitable actlvltles - by type Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Grants 1,680,053 157.100 1,837,153 Consultancy income 186,193 270.972 457,165 Coaching courses 442,184 442,184 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Grants 1,212,677 547.366 1. 760.043 Coaching courses 484,846 79,600 564,446 Analysls of expenditure on charitable activitles - by fund Unrestricted Restricted funds funds 2024 2024 Total 2024 Charitable activities Unrestricted funds 2023 Restricted funds 2023 Total 2023 Charitable activities Page 24
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of expenditure on charitable actlvitios - by type Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Charitable activities Activities undertaken directly 2023 Support costs 2023 Total funds 2023 Charitable activities Analysi8 of 8UPPQrt costs Total funds 2024 Total funds 2023 Office costs 156,261 184, 529 Other support costs 3,453 4, 739 Governance costs 15.952 14.704 Total 2024 Page 24
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Audltor's remuneratlon 2024 2023 Fees payable to the Charity's auditor for the audit of the Charity's annual accounts 8,000 7,500 Fees payable to the Charity's auditor in respect of: All non-audit services not included above Staff costs 2024 2023 Wages and salaries 1,250,871 588.354 Social security Costs 138,800 96,005 Pension costs 130,151 96,086 The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 No. Employees 30 19 The number of employees whose employee benefits (excluding employer pension costs) exceeded £60.000 was: 2024 No. 2023 No. In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001- £90,000 Page 25
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 In the band £90,001- £100.000 In the band £130,000 - £140,000 Page 25
THE REACH FOUNDATION (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. Trustees, remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2023- £NIL-). During the year ended 31 August 2024. no Trustee expenses have been incurred (2023 - £NIL). 11. Debtors 2024 2023 Due wlthln one year Trade debtors 240,340 231,493 Other debtors 380 6, 633 Prepayments and accwed income 102,463 12. Creditors: Amounts falling due withln one year 2024 2023 Trade creditors 4,704 92,691 Other taxation and social security 37,457 26,380 Other creditors 17,239 8,373 Accruals and deferred income 92,851 115,763 Page 26
THE REACH FOUNDATION (A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Statement of funds Statement of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Income Expendlture Unrestrlcted funds General Funds - all funds 137529 212613 2309604 1 $58 766 Restrlcted funds Save the Children 102,956 (102,956 Other restricted funding 20,019 30,644 {50,663) The 88 Foundation RAF teaching training burseries 1,334 (1,334) Feltham and related local authority projects 163,643 271,472 (241,205) 193,910 SHEL Project 29,600 23,000 (52,600) 214,596 428,072 (448,758) 193,910 Balance at 1 September 2023 Balance at 31 August 2024 Income Expenditure Total of funds 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 Save The Children Funding: the funding from Save the Children has funded the Early Learning Community. which seeks to improve outcomes in Feltham in the Early Years. The Feltham Early Learning Community is one of four that have been set up. Feltham and related local authority projects-. these relate to specific educational projects. Page 27
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 "13. -"Statement of funds (continued) Statement of funds - prior year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Unrestrlcted funds General funds 994 1717821 1721520 137529 Restricted funds Oak Academy - DfE 690, 711 (690, 711) Save the Children 293,250 (293,250) Other restricted funding 44,582 (24,563) 20,019 The 88 Foundation RAF teaching training burseries 50, 000 (48,666) 1,334 Feltham and related local authority projects 254, 116 (90, 473) 163, 643 SHEL Project 29, 600 29, 600 735,293 626,966 (1,147,663) 214,596 Total of funds 14 Page 28
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14. Analysis of net assets between funds Analysls of net assets between funds - current perlod Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Current assets 1.711,017 193.910 1.904,927 Creditors due within one year (152,251) (152,251) Total 1 S. Reconciliation of net movement in funds to net cash flow from operatlng actlvltles 2024 2023 Net incomelexpenditure for the period (as per Ststernent of Financial Activities) 162,785 524, 396) Adjustments for: Decrease in debtors 99,869 1.676,260 Decrease in creditors (90,956) (q, 109,343) Net cash provided by operating activities 16. Analysis of cash and cash equivalents 2024 2023 Cash in hand 1,664,207 1,492,509 Total cash and cash equivalents Page 29
THE REACH FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Analysis of changes in net debt At1 S•ptember 2023 Cash flows At31 August 2024 Cash at bank and in hand 1,492,509 171,698 1,664,207 18. Penslon commltments The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charily to the fund and amounted to £130,151 {2023- £95,086). Contributions of £18,811 (2023 - £14,255) were payable to the fund at the Balance Sheet date and are included in creditors. 19. Operating lease commltments At 31 August 2024 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows.. 2024 2023 Not later than 1 year 24,000 32,000 Later than 1 year and not later than 5 years 24, 000 20. Related party transactions The Charity has a service level agreement with the Reach Academy Trust (now renamed 'Reach Schools,) in order to access human resources and other services. During the year a total of £350,000 (2023 - rJ50,000) was recharged by Reach Academy Trust in respect of those Servi$. Page 30