Charity Registration No. 1136446 Company Registration No. 7150417 (England and Wales) RED BALLOON LEARNER CENTRE READING (A PRIVATE COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
RED BALLOON LEARNER CENTRE READING LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr T Lake Mr A D H Pearson Ms C Billing MSA Gupta Mr P Harley (Appointed 24 April 2024) Head of centre Michelle Masters Charity number 1136446 Company number 7150417 Registered offlce 220 Kings Road Reading RG14JJ Independent examiner E(l'n Smith Chartered Accountants 32 Queen Road Reading Berkshire RGI 4AU Bankers CAF Bank Limited 25 lQngs Hill Avenue Kings Hlll West Malling Kent ME19 4JQ
RED BALLOON LEARNER CENTRE READING CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the finanaal statements 9-17
RED BALLOON LEARNER CENTRE READING TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2024 The twstees present their report and financial slatements for the year ended 31 August 2024. The financial statements have been prepared in accordance wtth the accounting policies set out in note 1 to the financial statemenls and comply with the charity's goveming document, the Companies Act 2006 ar¢d "Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reportjng Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 2019). Object of the Charity The object of the charity is to advance the education of children aged 11 to 18 at the Red Balloon Leamer Centre. being 5tudenls who are victims of severe bullying. or by reason of other emotional or mental health Irauma, are unable to attend mainstream schools. This is achieved by providing tuition and appropriate support for them in a safe learning environment unts'l they are ready to return to mainstream education or enter employment. The Trustees, confirm that they have given due regard to the guidance issued by Ihe Charity Commission on public benefft. Governance The charity has a Board of Trustees who are responsible for the govemarbce of the charity. The Board of Trustees has the power to appoint new truslees. People who come to the trustee's attention as having relevant experience, interest or expertise are asked if Ihey would consider becoming a trustee. are intervied by other trustees and, if il is considered appropnate. are intrOdUd to all of the trustees. All trustees are subject to DBS checks. The Board aims to meet 6 times per year and holds an AGM in the Spring Terni. At each meeting student progress is reviewed and regular management accounts are provided for review by the Trustees. Safeguarding is also included as an agenda item at each meeting. Management The Board of Truslees, in consultation with the Head of Centre, make decisions on staffing. budgeling, and performance reviews. Trustees need to raise local public awareness of the need of children who have been so Severely bullied that they cannot attend mainstream school. The aim is to draw attentson to the fact that such children should be provided with full-time education and Red Balloon offers this service. This is addressed through local fundraising and engaging local businesses and schools in volunteering services or fundraising for us. Red Balloon Leamer Centre Reading is linked to the wider Red Balloon Educational Trust. This provides a forum for the Truslees and staff to share experiences and discuss common problems. Risk analysls The trustees have examined the major strategic and operational risks which the charity faces. The two main areas of concern are.. 1. Safeguardii?g and continued education of the students Safeguarding of students is of the highest priority and is continually monrtored. Ongoing slaff training in Heallh & Safety and Child Protection is provided regularly. In addition. a full range of policies are regularly reviewed by staff and trustees. 2. Sourcing of funding for students Staff. supported by Trustees, continue to make strenuous effort5 building 2nd maintaining good relationships Wlth education establishments and local authorrties. The Trustees and Head of Centre have developed a fee pricing structure that reflects the varying support and educational needs of each student. The trustees have assessed the major risks to which the chanty is exposed. and are satisfied that systems are in place to mitigate exposure to the maior risk5.
RED BALLOON LEARNER CENTRE READING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achievemenls and Perforniance of the Charlty The trustees are satisfied wth the performance of the charity for the year ending 31 August 2024. The obieclives of the charity are only achieved through the skill, hard work and dedication of the staff and volunteers at Red Balloon and as Trustees we are indebted to the team. The charity supported 23 students in the Centre during the year. Of these students 13 were still with us at the start of the 2024125 academic year. Of those who left, eight were year 11 or older, seven of whom Iransitioned to further education or training. Two younger students were supported to transtts.on to provision more appropriate to Iheir needs. Nine students sat GCSE andlor Functional Skills exams in the summer of 2024. Students of all ages achieved a range ofAQA Unit Award Scheme IUAS) certificates. UAS allows all students to engage with leaming and have Iheir achievements recognised. Students primarily achieved certification in Food Technology. Design & Technology and English. averagin9 5 awards each. The Outreach programme continued to develop with our Outreach Team working wth 24 young people and their families over the year. They have successfully reintegrated a large number into Alternative Provision, Specialist Provision or back into school. The Outreach team provided support to students through provision of reports for Annual Reviews and Funding panels. During the year we received funding to support the development of our garden, providing students with a more accessible and usable space. Our goal is to create an outdoor gym environment offering students physical activities to aid self-regulation to help them focus and engage in their learning, mentoring or therapy Red Balloon is not just about academic results but about giving students a wider learning expenence and focusing on wellbeing and personal development. Significant time. energy and expertise is given to ensuring this is achieved. Wellbeing Wellbeing provision is central to our support of students and this year in particular we have focussed on developing students. confidence and understanding of dealing with social media. We have made a concerted effort to provide holistic and consistent support to our students to enable them to engage with Ihe ubiquitous social media safely. We continued to run Challenge Time sessions (th a focus on developing important social skills life skills) and have involved students in community activib'es within the Centre. All students have a tutor and at the beginning of the day there is a tutor time session from 9-9.15 am. Eating together is an important part of our wellbeing and pastoral care, with students encouraged to eat together. along with staff in the Community Room. Wider learning and personal development We offered a range of enrichment activities for our students this year Induding trips to the Cinema, Pottery Painting. Wokingham Superbowl & Laser Quest. and Thorpe Park. Future plans of the Charity After discussion with several local authorities and the drafting of a business plan, in March of 2021 we began looking in earnest for a location for a second site. Following last year's unsuccessful attempt to secure planning permission for our selected site we remain committed to finding an altemab've. Financial review Total unrestricted income during the penod was £913.330 (2023 - £720.3241 an increase of 26.8Yo. This consisted largely of income from the local authorilies which was received to fund the education and wellbeing of the studenls whilst outside mainstream education. Total restricted donations in the year were £3,50012023 £986), see note 13 for details of these funds. Total expenditure was £876.218 (2023 - £716,524) and was incurred in perfomiance of Ihe charitable activities of the company, including staffing. direct student Costs. rent. ub'lthes and other general running costs. An unrestricted surplus of £39.545 was recorded. bringing total unrestricted funds to £432.256 and within our targeted reserve policy. We would like to thank all those that have fundraised. donated and volunteered time during the year.
RED BALLOON LEARNER CENTRE READING TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Reserves polScy The Trustees policy on financial reserves is to ensure a minimum of M months of reserves are held in the bank account. in addition to any spectfically detemiined requirements. The investment pollcy and objectlves The trustees, policy on investment is to retain the surplus funds in interest bearing deposit accounts. The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the finanaal statements were= Mr T Lake MrA D H Pearson Ms L Preston Ms C Billing M5A Gupta Mr P Harvey (Resigned 6 December 2023) (Appointed 24 April 2024)
RED BALLOON LEARNER CENTRE READING TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 statement of Trustees. Responsibilities The Trustees (who are also Directors of the Red Balloon Leamer Centre Reading for the purposes of company law) are responsible for preparing the Trustee's Report and the finanaal statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial stalements for each financial year. Under that law. the Trustees have prepared the financial statements in accordance wth United Kingdom Generally Accepled Accounting Standards and applicable law. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the incoming resources and application of reSoUrs. induding the income and expenditure. of the chanlable company for that period. In preparing those financial statements the Board is required to.. select suitable accounting policies and then apply them consistently- observe the melhods and pnnciples in the Statement of Recommended Practices.. Accounting and Reporting by Charities (2015),. make judgements and estimates that are reasonable and prudent.. stale whether applicable UK accounting standards, comprising FRS102. have been followed. subject to any material differences and explained in the financial statements, and; prepare the financial statements on the going concem basis unless Ft is inappropriate to presume thal t he charity will continue in business. The Trustees are responsible for keeping adequate accounts'ng records that are suffiaent to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure thal the financial statements comply wrth regulations made under the Charities Act and the Companies Act 2006. They are also responsible for safeguarding Ihe assets of tre charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared .in accordance with the provisions applicable to companies subject to the small companies, regime. The tr es, re rt was approved by the Board of Trustees. MrA D H Pearson Trustee Dated. 30/4./2¥..
RED BALLOON LEARNER CENTRE READING INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RED BALLOON LEARNER CENTRE READING I report to the trustees on my examination of the financial statements of Red Balloon Leamer Centre Reading (the chanty} for the year ended 31 Augusl 2024. Responslbllltles and basls of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wrth the requirements of the Companies Act 20C6 (the 2006 Act). Having satisfied myself that the financial statement5 of the charity are not required to be audited under Parl 16 of the 2006 Acl and are eligible for independent examination. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountanls in England and Wdles. which is one of the lisled bodies. I have completed my examination. I confimi that no matters have come to my attention in connection wrth the examination giving me cause to believe- the financial statements do not accord with those records", or accounting records were not kept in respect of the charity as required by sethon 386 of Ihe 2006 Act; or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts gvrfe a true and fair view which is not a matter Considered as part of an independent examination-, or the financial statements have nol been prepared in accordance wrth the methods and principles of the Statemenl of Recommended Pradice for accounting and reporting by charities applicable to charities preparing their accounts in accordance wrth the Finanaal Reporting Standard applicable in the UK a1 Republic of Ireland IFRS 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 financial slatements to be reached. Edwin Smith Chartered Accountants 32 Queen Road Reading Berkshire RG14AU Dated.. ! May. 2025
RED BALLOON LEARNER CENTRE READING STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Restrlcted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donalions and legacies Charitable activities Investments 1,543 905,566 6.221 3.500 5,043 905,566 6,221 448 717,203 2.673 986 1.434 717.203 2,673 Total Income 913.330 3.500 916.830 720.324 986 721.310 Expenditure on: Charitable activities 873.785 2,433 876.218 708.602 7.922 716,524 Total expenditure 873,785 2.433 876.218 708,602 7,922 716,524 Net Income and movement in funds 39.545 1,067 40.612 11.722 {6.936) 4,786 Reconcillation of funds: Fund balances at 1 September 2023 392.711 22.739 415,450 380,989 29.675 410.664 Fund balances at 31 August 2024 432,256 23.806 456.062 392,711 22,739 415,450 The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
RED BALLOON LEARNER CENTRE READING BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Notes Fixed assets Tangible assets 11 16.651 20.592 Current assets Debtors Cash at bank and in hand 12 10.231 468.222 3,594 411.566 478.453 415.160 Creditors: amounts falling due wlthin one year 13 39.042 20,302 Net current assets 439,411 394.858 Total assets less current liabilltles 456,062 415,450 The funds of the charity Restncted income funds Unreslri¢ted funds 15 16 23,806 432,256 22,739 392.711 456,062 415,450 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparatson of finanual statements. The members have not required the company to obtain an audrt of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance th the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on MrA D H Pearson Trustee Company registration number 7150417 (England and Wales)
RED BALLOON LEARNER CENTRE READING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operatlng actlvftles Cash generated from operations 19 55.859 3,638 Investing activities Purchase of tangible fixed assets Investment income received (5,424) 6.221 14.848) 2,673 Net cash generated fromllused in) investing activities 797 (2,175) Net cash used In financing a¢tlvitles Net increase in cash and cash equivalents 56.656 1,463 Cash and cash equivalents at beginning of year 411,566 410.103 Cash and cash equivalents at end of year 468,222 411,566
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Charity information Red Balloon Learner Centre Reading is a registered charity and a rnpany limited by guarantee inc(ry)rated In England and Wales. The registered office is 220 Kings Road, Reading, RG14JJ. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's governing document, Ihe Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. {"FRS 102.) and the Charib'es SORP 'AoUnting and Reporting by Charities.. Statemenl ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the fiJn¢tional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopied are set out below. 1.2 Going concern At the time of approving the finanaal statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus Ihe trustees continue to adopt the going concern basis of accounts'ng in preparing the financial statements. 1.3 Charitable funds Unrestricted lunds are available for use at the discreb'on of the tTUStees in furtherance of their charitable objectives. Restricted funds are subjecl to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income All income resources are included in the Statement of Financial Activities when the charity is entitled to, and sufficiently certain to receive. the income and the amount can be quantified with reasonable accuracy. The following policies apply to particular categories of income. Voluntary income is received by way of grants. donations and gifts and is included in full when receivable. Incoming resources from charitable activities are accounted for when earned. Deferred income relates to student fees which relate to future accounting periods. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to Iransfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of Ihe total of direct costs and shared costs, including support costs involved in undertaking each activity. Direcl costs attributable to a single activity are allocated directly to that activity. Shared costs vthich contribute to more than one activity and support costs which are not attnbutable to a single activity are apportioned beeen those activities on a basis consistent wrth the use of resources. Central staff costs are allocated on the basis of time spenl, and depreciation charges are allocated or7 the portion of the asset's use. Resources expended are Induded In the Statement of Financial Activities on an accruals basis, inclusive of any VAT that cannol be recovered.
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng policles Icontlnuedl 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairmenl losses. Expendrture on fixed assets is only capitalised Vthe it exceeds £1.000 and has an expected useful life greater than one year. Depreciation is recognised so as to wrrte off the cost or valuab'on of assets less their residual values over their useful lives on the followng bases-. Fixtures and fittings Computers Motor vehicles 7 years straight line 3 years straight line 5 years straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impalrment of fixed assets At each reporting end date, the chanty reviews the carrying amounts of its langible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indallOn exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash at bank and in hand includes cash and cash held at bank current accounts and short term lighly liquid investments held on deposit accounts. 1.9 Financial instruments The charty only has financial assets and financial liabilities of a kind that qualify as basic financial instrumenls. Basi¢ financial instruments are initially recognised at transactions value and subsequently measured at their sett5ement value. 1.10 Leases Operating leases are re¢ognised over Ihe period of which the lease falls due on a straight line basis. 1.11 Pension Schemes Employees of the charity are automatically enrolled inlo a defined contribution scheme unless they have exercised their right to opt oul. The charity conlribution is restricted to the contributions disclosed in note 8. The costs of the defined contriblrtion scheme are included wthin unrestricted funds. 1.12 Debtors Debtors are recognised at the settlement amount due. 1.13 Creditors Creditors and provisions are recognised as soon as there is a legal or construclive obligation com mitting Ihe charity to that expenditure. it is probable that setdement will be required and the amount of the obligation cab be measured reliably. 10-
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted Restncted funds funds Total 2024 2024 2024 2023 2023 2023 Donations 1.543 3,500 5.043 448 986 1,434 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interesl receivable 6.221 2,673 Charitable activities Charitable Charitable Actlvities Activities 2024 2023 Student fees 905.566 717,203 11
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Charitable activities Charitable Charitable Activities Activities 2024 2023 Staff costs Depreciation and impairment Travel and subsistence Student operating costs Red Balloon of Ihe air costs Other teaching resources Accommodation. food and deaning Communication Insurance Red Balloon Educational Trust support fees Consumables Rent and rales Training and recruitment Repairs and maintenance Office equipment Utilities Sundry operating expenditure other charitable expenditure 614.262 9,365 5,686 61.881 515,002 10,401 4,139 42,064 4,723 7,813 8,170 2.390 5.975 8,000 9,845 27,516 5,424 23.513 2,529 4,208 740 2,609 12.635 6,050 3,280 6.793 8,000 14.751 35,636 17,294 37,790 2.717 7.069 587 1,969 845,765 685,061 Share of governance costs {see note 7) 30.453 31,463 876,218 716.524 Analysis by fund Unrestricted funds Restricted funds 873,785 2.433 708.602 7.922 876,218 716.524 An ex grab'a payment of £1,602 was made to an employee at the discretion of the trustees. Net movement in funds 2024 2023 The net movement in funds is stated after chargingllcredib'ng): Depreciation of owned tangible fixed assets 9,365 10.401 12-
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Support costs There were no support costs during the year or prior year. Govemance costs were as follows: Governance Governance costs costs 2024 2023 Independent examiners fee Professional services 1,000 29.453 960 30,503 30,453 31,463 Analysed beeen Charitable activities 30,453 31,463 Trustees None of the Board of Trustees and Directors re¢erved any mUneratiOn during the year or prior year. Expenses of £160 {2023 - £329) were reimbursed. relating to travel and meeting costs. No trustee or other person related to the charity has any personal interest in any contract or transaction entered into by the charity during the year or prior year. Employees The average monthly number of employees during the year was. 2024 Number 2023 Number 23 21 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 552,224 41,717 14.845 471.579 30.815 10.676 608,786 513,070 There were no employees whose annual remunerats.on was more than £60,000. Remuneratlon of key management personnel The key management personnel of the charity comprise the trustees. the Head of Centre and two Oeputy Heads. The total employment benefits of the key management personnel of the Trusl was £145.719 (2023 - £125,780) 13-
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 10 Taxation No liabilty to UK corporation tax arises as the company enjoys charitable status. 11 Tangible fixed assets Flxtures and flttlngs Computers Motor v8hl¢le$ Tolal Cost At I September 2023 Additions 6.600 17,126 5,424 20.400 44,126 5.424 At 31 August 2024 6.600 22,550 20,400 49,550 Depreciation and impairnient At 1 September 2023 Depreciation charged in the year 11.812 4,342 10,880 4,080 23,534 9.365 943 At 31 August 2024 1.785 16.154 14.960 32,899 Carrying amount At 31 August 2024 4.815 6.396 5,440 16,651 At 31 August 2023 5,758 5.314 9,520 20.592 12 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 1.250 8.981 3,594 10,231 3,594 13 Creditors: amounts falling due within one year 2024 2023 other taxation and social security Trade creditors Other credilors Accruals and deferred income 10,882 23,534 2.577 2,049 8.693 6,681 2.095 2,833 39.042 20.302 14-
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Retirement beneflt schemes 2024 2023 Deflned contrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes 14.845 10,676 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charty in an independently administered fijnd. 15 Restrlcted funds The restricted funds of the charity compnse the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Movement in funds Balance at Incomlng Resource5 Balance at Incorning Re$ourcè$ Balance at I September regources expended 1 September resources expended 31 August 2022 2023 2024 Bursary Dark Room Music Therapy Sludent Therapy Building work Community Garden 3D Printer SALT Special Events Seymour Trust Sensory Circuit 21.600 134 406 1,730 308 668 571 709 2.749 800 (3,86n 17,733 134 107 17,733 134 107 (299) (1.730) 308 668 571 676 1,891 14 308 668 2.071 536 1,751 3.500 (2,OOOJ 11401 (1401 114> {33) (858) 1786) 986 (349) 637 (139) 498 29,675 986 (7,9221 22.739 3,500 {2,433} 23,806 Pur ose of the restricted funds Bursary - Funds to contribute to a Bursary for a student to attend Red Balloon Reading. Dark Room- Funds to develop a photography dark room at Red Balloon Reading. Music Therapy - Funds to cover the cost of a music therapist. Student Therapy - Funds to provide therapeutic provisions to our students, for example equine or canine therapy. Building work - Funds to enhance the learner ntre to provide our students with the best leaming and therapeutic environment. Community - Funds to enable the recruitment of an Outreach Worker. Minibus - Grant funding to purchase a vehicle for student trips and visits. Garden - Grant funding to enhance the ouldoor areas of the Centre for students to enjoy. 3D Printer- Personal donation lo purchase a 3D pnnter lo support leaching and leaining. SALT & Seymour Trust- Funds to support a newly implemented programme of speech and language therapy. Special Events - Funds raised to contnbute towards a trip or sporting event. Seymour Trust Sensory Circuit - Funds to create movement stations designed to provide sensory input and promote self-regulation In young people. 15-
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Designated funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. Movement In funds Movement In funds Incoming resources Balance at 1 September 2022 Incoming resources Resources Balance at expended I Seplember 2023 Balance at 31 August 2024 Expansion 168,187 (1.654) 166,533 166.533 168.187 (1.654) 166,533 166,533 ose of the desi Expansion - Funds to support the opening of a second centre in the Reading area. 17 Operating lease commitments Lessee The Company leases propety from Red Balloon Educational Trust. At 31 August 2021 the Company had the following total future minimum lease payments under non<ancellable operating lease5: 2024 2023 Within one year Between two and five years 32.500 97.500 130,000 18 Related party transactions During the year £45,098 (2023= £41,185) was paid to Red Balloon Educational Trust, an entity under common beneficial ownership. in relation to rent. management fee and other operating costs. At the year end the balance outstanding was £Nil (2023.. £Nil). 16-
RED BALLOON LEARNER CENTRE READING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 19 Cash generated from operations 2024 2023 Surplus for the year 40.612 4.786 Adjustments for- Investment income recognised in statement of finanoal activities Depreciation and impairmenl of tsngible fixed assets (6,221) 9.365 12,673) 10,401 Movements in working capital.. Ilncreaselldecrease in debtors Increasel(decrease) in creditors (6,6371 18,740 202 19.078) Cash generated from operations 55.859 3.638 17-