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2022-03-31-accounts

Balance Sheet as at 31 March 2022

Bounce Back Foundation

Trustees Report and Audited Financial Statements

31 March 2022

(A charitable company limited by guarantee) Company number 07675301 Charity number 1144297

Bounce Back Foundation

Contents

Reports

eports
Reference and administrative details 3
Report of the Trustees 5
Independent auditor’s report 14
Accounts
Statement of financial activities 18
Balance sheets 19
Cash flow statement 20
Accounting policies 21
Notes to the financial statements 25

Bounce Back Foundation 2

Reference and administrative details

Trustees Sue Killen Rahul Jaitly
Stuart McMinnies Elaine Hindal
Sheena Asthana Deborah Rozansky
Jean Daintith Jim Heptinstall
Rachel Atkinson Caroline Shuldham
Craig Denholm Tim Sampey
Key management personnel Mary Suphi
Andrew Mondon
Vicki Markiewicz
Registered Office 3rdFloor, North West Suite
Tower Point
44 North Road
Brighton
BN1 1YR
Principal office 32 Southwark Bridge Road
London
SE1 9EU
Charity registration number 1144297
Company number 07675301
Auditor Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Bankers Barclays Bank Plc
2ndFloor, 90-92 High Street
Crawley, West Sussex
RH10 1BP

Bounce Back Foundation 3

Reference and administrative details

Solicitors DMH Stallard Gainsborough House Pegler Way Crawley, West Sussex RH11 7FZ Hempsons The Exchange Station Parade Harrogate, North Yorkshire HG1 1DY

Bounce Back Foundation 4

Report of the Trustees 31 March 2022

The trustees present their statutory report together with the financial statements for the year ended 31 March 2022.

The report has been prepared in accordance with Part VIII of the Charities Act 2011 and constitutes a directors’ report for the purpose of company legislation.

The financial statements have been prepared in accordance with the accounting policies set out on pages 21 to 24 of the attached financial statements and comply with the charitable company’s memorandum and articles of association, applicable laws, 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 United Kingdom and Republic of Ireland (FRS 102).

Objectives and Activities

Purpose and main activities

Bounce Back Foundation provides an end-to-end solution to reducing crime and reoffending which drives social mobility. It works in custody and the community to create opportunities for those within the Criminal Justice System and those with substance misuse issues who are at risk of entering it.

A crucial objective is to help to change perception of people who have been in prison and demonstrate to employers (67% of whom admit to discriminating against those with a criminal record during recruitment and the wider society) that people who have served custodial sentences can become loyal and talented employees and make a positive contribution to society.

Bounce Back work in the community as well as inside prisons throughout Greater London with an ambition to expand geographically. Since 2011, the charity has supported over 3,000 people to ‘Bounce Back’ via an innovative prison to employment model. Over 65% of participants supported achieve positive progressions, including employment and further training or education and over 90% of participants refrain from further offending. This is a major achievement as the national re-offending rate is circa 47%.

Bounce Back strives to ensure as many ex-offenders as possible are able to access the Bounce Back training and work experience programme, either prior to joining the painting and decorating social enterprise or being supported to work within construction companies.

Bounce Back Foundation focuses on the rehabilitation of ex-offenders, pathways to employment and the advancement of education and training; principally for exoffenders but also other socially excluded or marginalised people by providing them with:

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Report of the Trustees 31 March 2022

Objectives and Activities (continued)

Public Benefit

The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. The board of trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the Charity's future activities.

Bounce Back has been consistent in its mission since it began, with a focus on skills training, qualifications and support into employment. These skills include painting and decorating, dry lining and scaffolding in response to labour market demand. The work starts with early intervention in custody, then provides people in and out of custody with education and qualifications leading them into employment in Bounce Back's own social enterprise, as well as with their partners who include the construction industry and a broad spectrum of other employers.

Activities

To achieve its objectives, the Bounce Back programme is outlined below and the impact of Covid has been noted separately:

Bounce Back Foundation is a training charity that supports people throughout their journey from custody and through the gate into employment. It is an ‘end to end’ solution to reducing re-offending, working with individuals at every stage of the process.

The charity operates six training centres. Five of these centres are located in the following prisons; HMP’s Brixton, Wandsworth, Pentonville, Thameside and Isis. The sixth centre is a community training hub in the borough of Southwark.

Training is largely focussed on construction although during the year an increased number of participants have trained in more diverse areas such as digital marketing, HGV training and hospitality. The charity continues to work hard to forge new partnerships with employers and source the best opportunities in the market for participants.

During the year, new projects commenced which do not solely focus on ex-offenders and instead work with those struggling with the challenges of substance misuse and homelessness.

Key Projects

No Going Back

An initiative of the Livery Companies within the City of London to reduce re-offending through prisoner rehabilitation, bespoke training, support into work, and housing pathways.

DIVERT

DIVERT is a Metropolitan Police Service diversion programme designed to prevent young people re-offending who come into police custody, and support them into employment, education and training. This covers 12 custody suites across London. The project is

Bounce Back Foundation 6

Report of the Trustees 31 March 2022

supported by a number of football foundations.

IPS (individual placement support)

Delivered in partnership with Change Grow Live and funding from the Office for Health, Improvement and Disparities (OHID), a team of employment specialists work with participants still in recovery from substance misuse to access employment and training outcomes.

ADDER

A team of resilience coaches based in the borough of Tower Hamlets provide pastoral and mentoring support to young participants facing challenges with substance misuse.

Newham Rough Sleepers

A small team working out of a homeless day centre in Newham provide access to employment and training opportunities for those experiencing rough sleeping or at risk of homelessness.

ENUFF

A large team working across London in custody and the community supporting participants serving short term prison sentences get access to the services they need to stop reoffending, in partnership with local support organisations to assist with further training and help into employment.

How they support participants

The fundamental principle is around engaging with participants on a one-to-one basis in case management. The Case Management team work with individuals pre and post release to support them into further training, education and employment opportunities with a full wraparound service responding to the needs of the individuals to enable them to thrive. This kind of support is what participants need to be able to enter sustainable employment, improve their quality of life and stay out of prison.

Bounce Back has developed an extensive network of employers who work with them to identify the key skills and training required within specific industries at any given moment, working with participants to develop CVs, and employability skills and offering them employment (often before they are even released from prison). This commercial model of engagement was recognised as best practice in the 2016 Government review of training in prisons, ‘Unlocking Potential’ by Dame Sally Coates.

Participants more than ever require additional support following the pandemic. This has meant increasing project training budgets to work more intensely with pre-employment and training support, whilst also strengthening partnerships with specialist organisations to tackle mental wellbeing and financial resilience.

The Bounce Back Social Enterprise

Bounce Back Project Limited is a social enterprise which is a wholly owned subsidiary of Bounce Back Foundation. The enterprise can employ up to 30 decorators at any one time, painting on various size contracts within the M25 and beyond. During the year the project has began to diversify and has begun work on various construction projects.

Once individuals have gained employment with the social enterprise, the team continue

Bounce Back Foundation 7

Report of the Trustees 31 March 2022

to train them to further enhance their skills or they can move on to work with other employers.

Change Grow Live

Change Grow Live became the sole member of Bounce Back Foundation on the 29 July 2020.

The activity and purpose of Bounce Back Foundation aligns with the charitable objectives of Change Grow Live, centred on improving the lives of individuals and the communities in which they lives.

Achievements and Performance

Achievements

Difference made to beneficiaries and wider society

There are currently over 80,000 people in prison and a government reported re-offending rate of over 40%. It costs over £50k to keep someone in prison for a year and the cost of reoffending is £18bn. A job cuts the likelihood of re-offending by 50% and this is what Bounce Back seeks to address.

When reoffending occurs, judges and courts are giving people back to Bounce Back in preference to putting them back in prison. This helps to ensure re-offending is minimised and focuses on an indirect saving to the public purse.

Bounce Back, through its unique relationships across the prison and the community, as well as its longstanding commitment to employing ex-offenders and those at risk of offending, provides a valued link between the prison population and employers. Bounce Back continues hold a reputation of a recognised conduit from prison into the construction industry.

Covid 19

From the beginning of Covid, Prisons and probation services implemented significant changes to comply with the Government’s social distancing rules and to protect staff and

Bounce Back Foundation 8

Report of the Trustees 31 March 2022

service users. The prisoners were locked down 23 hours a day and whilst there has been a slow reopening of prisons the impact of being unable to deliver face to face training or casework engagement cannot be ignored. Bounce Back was able to adapt quickly by offering more community-based services and offering training both online and paper based.

The team remained in contact with custody participants by phone and would capture people immediately on release and we have been funded to give participants phones/tablets and whatever they require to continue to train and engage.

During this time, collaboration with other organisations has been key – including those in the construction sector, the Ministry of Justice, and employers. Projects such as No Going Back were a lifeline for participants who benefitted from housing support, an extensive training bursary and more.

Financial Review

Financial statements

The charity generated a loss of £547,153 during the year (2021 - surplus of £18,030), with a deficit on unrestricted funds of £596,419 (2021 - deficit of £75,105) and a surplus on restricted funds of £49,266 (2021 – surplus of £93,135).

Income increased by £916,214 to £2,993,631 compared to the prior year (2021 - £2,077,417) arising from charitable activity and donations from various trusts, foundations, private funders, and companies.

Total expenditure for the year was £3,540,784 (2021 - £2,059,387).

The year ended 31 March 2022 has been a challenging year for Bounce Back. This was due to a number of factors including the ongoing impact of Covid-19 and the reduced appetite of funders during that time. Bounce Back have undergone a restructuring process at the end of the financial year to create a more stable position with which to start the next financial year.

Change Grow Live are committed to Bounce Back Foundation and believe in the longterm viability of the charity. It supports the clear strategy for income generation that Bounce Back Foundation has developed.

Financial position

The charities total negative funds of (£413,901) are represented by a restricted fund of £146,654 (2021- £97,388) and unrestricted negative fund of (£560,555) (2021- £35,864).

The Foundation received restricted funding of £532,369 during the year of which £483,103 was spent in 2021/22. Total restricted funds at the year-end was £146,654.

Bounce Back Foundation 9

Report of the Trustees 31 March 2022

Reserves policy

The charity requires reserves primarily for working capital purposes as some of its contract income is received in arears. In addition, the charity is reliant upon grants and donations to support its charitable activities and therefore reserves are required for cash flow purposes in the event that there are any gaps in funding.

The trustees are seeking to build the general reserves in order to provide sufficient working capital for these purposes. Over the short term the charity is working towards a break-even budget in the periods ahead but is reliant on the committed support of its parent. The trustees intend to achieve surplus in Foundation in order to build its reserves.

Going concern

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The trustees have made this assessment in respect to a period of one year from the date of approval of these accounts.

The trustees are confident that the charity will retain its current key training contract work through 2022/23 and, in the event of contracts not being renewed, the trustees have identified options to reduce the scale of activities. In addition, management anticipate continuing to accelerate partnership arrangements with third sector bodies to broaden the charity’s portfolio of charitable activities.

Over the short-term the company is working towards a break-even budget in the period ahead but is reliant on the continued support of its parent, to ensure it has the resources to meet its commitments as they fall due and continue as a going concern.

Following confirmation of this continued support from Change Grow Live, the Directors are satisfied there are no material uncertainties surrounding the company’s ability to continue as a going concern and the accounts have been prepared on that basis.

Plans for the future

As part of a process of ongoing review and improvement the charity is always exploring ways in which it can increase participant outcomes and broaden its portfolio to reduce risk. To these ends Bounce Back continually grows partnerships with other statutory bodies, Housing organisations, Government agencies and charities that complement its own programme.

Working closely with Change Grow Live, we have been able to widen our client group and support clients who are at the end of their journey through the Change Grow Live programmes with training and employment.

Bounce Back Foundation 10

Report of the Trustees 31 March 2022

Fundraising

The Foundation does not fundraise directly with individuals and therefore is not registered with the Fundraising Regulator. If donations from individuals are received the Foundation aims to protect personal data and never sells data or swaps data with other organisations. The Foundation manages its own fundraising activities. The Foundation undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During 2022/23, the Foundation received no complaints about its fundraising activities.

We take this opportunity to thank just some of our supporters: Landsec, Columbia Threadneedle, The Tom AP Rhys Price memorial Trust, Rayne Foundation, RAS, Charles Hayward Fdn, Fishmongers, Aldo Trust, PDT Equip, Wates Foundation, Rank Foundation, Haberdashers, B&CE Charitable trust, The Big Idea, Strong Foundations, David and Ruth Lewis Foundation, Ferguson Trust, Trust House Foundation, Co-op Community Fund and Hedley Foundation.

Structure, Governance and Management

Governing document

The governing instrument of the Foundation is the Memorandum and Articles of Association dated 20 June 2011 and was amended on 11 October 2011.

Constitution

Bounce Back Foundation was incorporated as a company limited by guarantee on 20 June 2011 and registered as a charity on 17 October 2011.

Trustees

The trustees who served throughout the year and to the date of approval of these financial statements, were as follows:

Mike Pringle CBE (term ended 14 Dec 2001) John Harris (term ended 14 Dec 2001) Sue Killen (appointed 14 Dec 2001) Rahul Jaitly Andreas Raffel (term ended 14 Dec 2001) Stu McMinnies Sheena Asthana Caroline Shuldham Rachel Atkinson Elaine Hindal (appointed 14 Dec 2001) Nick Burstin (term ended 14 Dec 2001) Deborah Rozansky (appointed 14 Dec 2001) Jean Daintith Jim Heptintall (appointed 14 Dec 2001) Craig Denholm Tim Sampey (appointed 14 Dec 2001)

Trustees hold office for a term of three years which can be extended for a further three years and can be extended beyond this in special circumstances.

Specific roles that trustees hold are detailed within the financial statements of its ultimate parent company, Change Grow Live.

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Report of the Trustees 31 March 2022

Structure, Governance and Management (continued)

Details of the charities corporate governance are set out within the financial statements of its ultimate parent company, Change Grow Live.

Statement of Trustees' Responsibilities

The trustees (who are also directors of Bounce Back Foundation 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

Each of the trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions

Bounce Back Foundation 12

Report of the Trustees 31 March 2022

Approved by the Trustees and signed on their behalf by:

Trustee – Sue Killen

Date: 21 September 2022

Bounce Back Foundation 13

Independent auditor’s Report Year ended 31 March 2022

Independent Auditor’s Report to the Members of Bounce Back Foundation

Opinion

We have audited the financial statements of Bounce Back Foundation (‘the charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, balance Sheet, Cash Flow Statement and notes to the financial statements, including significant 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

Bounce Back Foundation 14

Independent auditor’s Report Year ended 31 March 2022

knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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

Responsibilities of trustees

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

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Independent auditor’s Report Year ended 31 March 2022

Auditor’s responsibilities for the audit of the financial statements

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

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were taxation legislation, employment legislation and General Data Protection Regulation (GDPR).

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from

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Independent auditor’s Report Year ended 31 March 2022

irregularities, including fraud, to be within the timing and recording of income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

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

Naziar Hashemi Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London Date: 11th November 2022

Bounce Back Foundation 17

Statement of financial activities Year to 31 March 2022

Notes Unrestricted
funds
£		 Restricted
funds
£		 Total
2022
£		 Unrestricted
funds
£		 Restricted
funds
£		 Total
2021
£
Income from:
Donations and legacies
1
Charitable activities
2
Other trading activities
Gifts in Kind
Investments
Other income
Total income
Expenditure on:
Charitable activities
3
Raising funds
4
Gifts in Kind
Total expenditure
Net (expenditure) /
income
Net movement in funds
for the year
Reconciliation of funds
Total funds brought
forward
Total funds carried
forward		 114,916
2,239,976
-
95,205
15
11,150		 57,570
474,799
-
-
-
-		 172,486
2,714,775
-
95,205
15
11,150		 272,961
1,640,225
6,800
-
-
-		 157,431
-
-
-
-
-		 430,392
1,640,225
6,800
-
-
-
2,461,262 532,369 2,993,631 1,919,986 157,431 2,077,417
2,884,155
78,319
95,207		 483,103
-
-		 3,367,258
78,319
95,207		 1,922,622
72,469
-		 64,296
-
-		 1,986,918
72,469
-
3,057,681 483,103 3,540,784 1,995,091 64,296 2,059,387
(596,419)
49,266		 (547,153) (75,105)
93,135		 18,030
(596,419)
35,864
49,266
97,388		 (547,153)
133,252		 (75,105)
110,969
93,135
4,253		 18,030
115,222
(560,555) 146,654 (413,901) 35,864 97,388 133,252

All income and expenditure derives from continuing activities.

The statement of financial activities includes all recognised gains and losses.

Bounce Back Foundation 18

Balance Sheet as at 31 March 2022

Notes 2022
£		 2022
£
61,597
100
61,697



(475,598)
(413,901)
146,654
(560,555)
(413,901)		 2021
£

2021
£
Fixed assets
Tangible assets
7
Investments
12
Total fixed assets
Current assets
Debtors
8
Cash at bank and in hand
Current liabilities:
Creditors: amounts falling due
within one year
9

Net current assets
Net assets
The funds of the charity:
Restricted funds
11
Unrestricted funds:
11
Total shareholders funds		 378,973
236,839		 193,768
673,894		 30,720
100
30,820



102,432
615,812
(1,091,410)		 867,662
(765,230)





133,252
97,388
35,864
133,252

Approved and authorised by the Board and signed on their behalf by:

Trustee – Sue Killen Date: 21 September 2022

Bounce Back Foundation Company No. 07675301

Bounce Back Foundation 19

Statement of Cash Flows as at 31 March 2022

2022
£		 2021
£
Cash flows from operating activities:
~~Net cash (used in) provided by operating activities (note A)~~
Cash flows from investing activities
Purchase of plant and equipment
Net cash used in investing activities
Change in cash, cash equivalents and net debt in the year
Cash, cash equivalents and net debt at 1 April 2021
Cash,cash equivalents and net debt at 31 March 2022		 ~~(372,926)~~ ~~592,502~~
(64,129) (23,092)
(64,129) (23,092)
(437,055) 569,410
673,894 104,484
236,839 673,894

A Reconciliation of net income to net cash flow from operating activities

2022
£		 2021
£
Net movement in funds per statement of financial activities
(547,153) 18,030
~~Adjustments for:~~
Depreciation charge
(Profit) on fixed asset disposal
(Decrease)/increase in debtors
Increase in creditors
Net cash(used in)/generatedprovided by operating activities		 33,252
-		 14,635
(4,770)
(185,205)
326,180		 51,154
513,453
(372,926) 592,502

Bounce Back Foundation 20

Notes to the financial statements 31 March 2022

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

The charity is a Public Benefit Entity. The charity was established in 20 June 2011 and registered as a charity with the Charity Commission for England and Wales on 17 October 2011 (charity number: 1144297) and is a company limited by guarantee. Its registered office is 3[rd] Floor, Tower Point, 44 North Road, Brighton, East Sussex, BN1 1YR.

The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102) and the Charities Act 2011.

The financial statements present the results for the Charity only and do not consolidate transactions and balances of its subsidiary, Bounce Back Project Limited as these are included within the financial statements of the ultimate parent charity Change Grow Live.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees and senior management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

Assessment of going concern

Going concern

The trustees are confident that the charity will retain its current key training contract work through 2022/23 and, in the event of contracts not being renewed, the trustees have identified options to reduce the scale of activities. In addition, management anticipate continuing to accelerate partnership arrangements with third sector bodies to broaden the charity’s portfolio of charitable activities.

Over the short-term the company is working towards a break-even budget in the period ahead but is reliant on the continued support of its parent, to ensure it has the resources to meet its commitments as they fall due and continue as a going concern.

Following confirmation of this continued support from Change Grow Live, the Directors

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Notes to the financial statements 31 March 2022

are satisfied there are no material uncertainties surrounding the company’s ability to continue as a going concern and the accounts have been prepared on that basis.

Income

Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured reliably and it is probable that the income will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Income comprises donations, legacies and income from charitable activities.

Donations are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Income from charitable activities is recognised to the extent that it is probable that the economic benefits will flow to the charity and the income can be reliably measured. They are measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Interest on funds held on deposit and interest on loans and investments are included when receivable and the amount can be measured reliably by the charity.

Gifts in kind

Gifts for onward distribution to beneficiaries of the charity are included at their fair value as at the time of distribution. Gifts are typically tools and other equipment used to train participants.

Assets donated to the charity for its own use are included in income and expenditure at their fair value as at the time of the gift.

Items donated to the charity for resale are included within income when sold and no value is placed on stock of such items at the year-end.

Expenditure recognition

Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to make a payment 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.

All expenditure is accounted for on an accruals basis and is classified as follows:

Bounce Back Foundation 22

Notes to the financial statements 31 March 2022

Expenditure recognition (continued)

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Tangible fixed assets

All assets with an expected useful life exceeding one year are capitalised.

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

Investments

The charity’s investment in its subsidiary company is valued at cost.

Debtors

Debtors are recognised at their settlement amount, less any provision for nonrecoverability. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have an original maturity of less than three months.

Creditors and provisions

Creditors and provisions 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 settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt.

Fund accounting

Unrestricted funds comprise the general fund.

The general unrestricted fund comprises those monies which may be used towards meeting the charitable objectives of the Foundation at the discretion of the Trustees.

Bounce Back Foundation 23

Notes to the financial statements 31 March 2022

Fund accounting (continued)

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged on a straight-line basis over the lease term.

Pensions

Contributions in respect to defined contribution schemes are recognised in the statement of financial activities in the year in which they are payable to the relevant scheme.

Bounce Back Foundation 24

Notes to the financial statements 31 March 2022

1 Income from donations and legacies

Income from donations and legacies
2022
£		 2021
£
Unrestricted
Individual donations
Corporate donations
Trust and Foundation donations
Donations in kind
Restricted
Corporate donations
Trust and Foundation donations
Total		 835
114,081
-
-		 353
220,048
52,560
-
114,916
20,000
37,570		 272,961
9,735
147,696
57,570 157,431
172,486 430,392
Income from charitable activities 2022
£		 2021
£
Training and employability 2,714,775 1,640,225
2,714,775 1,640,225

2 Income from charitable activities

3 Expenditure on charitable activities

Direct Support 2022 Direct Support 2021
costs costs Total costs costs Total
£ £ £ £ £ £
Training and employability 2,493,145 874,113 3,367,258 1,483,189 503,729 1,986,918
Total 2,493,145 874,113 3,367,258 1,483,189 503,729 1,986,918

Bounce Back Foundation 25

Notes to the financial statements 31 March 2022

4 Expenditure on raising funds

Expenditure on raising funds
2022
£		 2021
£
Direct costs:
Fundraising costs
Salary costs
Support costs (note 5)
Total expenditure on raising funds		 1,138
59,699		 3,574
45,359
60,837
17,482		 48,933
23,536
78,319 72,469

Expenditure on raising funds was unrestricted for both the years.

5 Support and governance costs

Support costs

Support costs
Charitable
activities
£		 Cost of
raising
funds
£		 2022
£
Staff costs
Freelancers
Property costs
Professional fees
Marketing
Office costs
Depreciation
Other administration costs		 284,078
148,193
136,597
46,430
44,390
86,992
42,256
67,695		 5,798
3,024
2,788
948
906
1,775
862
1,381		 289,876
151,217
139,385
47,378
45,296
88,767
43,118
69,076
856,631 17,482 874,113
Charitable
activities
£		 Cost of
raising
funds
£
5,008
5,324
2,448
3,287
2,008
3,426
-
2,035
-
23,536		 2021
£
112,192
119,274
54,842
73,648
44,966
76,750
10,327
35,266
-
527,265
Staff costs
Freelancers
Property costs
Professional fees
Marketing
Office costs
Depreciation
Other administration costs
Gifts in kind		 107,184
113,950
52,394
70,361
42,958
73,324
10,327
33,231
-
503,729

Bounce Back Foundation 26

Notes to the financial statements 31 March 2022

Governance costs included within professional fees

Governance costs included within professional fees
Unrestricted
2022
£
14,899
10,470
-
25,369		 2021
£
Auditor’s remuneration
Legal costs
Accountancy		 9,000
70,361
-
79,361

Governance costs incurred by the Charity are included as part of support costs.

No expenses were reimbursed to Trustees during the year ended 31 March 2022 (2021 - £nil to no Trustees).

No Trustees received any remuneration during the year ended 31 March 2022 (2021 - £nil)

The auditors’ remuneration is borne by the parent company undertaking.

6 Staff costs

Staff costs
2022
£		 2021
£
748,448
70,888
14,583
19,719
853,638
Wages, salaries
Social security
Pension costs
Recruitment costs		 1,370,370
137,495
23,797
58,663
1,590,325

The average number of employees during the year was 45 (2021 - 27).

No employee earned £60,000 per annum during the year (2021 - none)

Key management personnel

The key management personnel in charge of directing and controlling, running and operating the group’s activities on a day-to-day basis comprise the Trustees together with the Executive Director and the Senior Leadership team. The total remuneration, which consisted of consultancy fees (and including taxable benefits and employers national insurance contributions) payable to the key management personnel during the year was £113,573 (2021 - £113,950).

Bounce Back Foundation 27

Notes to the financial statements 31 March 2022

7 Tangible fixed assets

Motor
vehicles
£		 Office
equipment
£		 Computer
equipment
£		 Total
£
Cost
At 1 April 2021
Additions in year
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge in year
Depreciation on disposal
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 16,000
-
-		 16,759
7,165
(3,331)		 44,026
56,964
(33,218)		 76,785
64,129
(36,549)
16,000 20,593 67,772 104,365
9,342
6,658
-		 14,030
2,928
(3,331)		 22,693
23,666
(33,218)		 46,065
33,252
(36,549)
16,000 13,627 13,141 42,768
- 6,966 54,631 61,597
6,658 2,729 21,333 30,720

8 Debtors

Trade debtors
Amounts owed by group undertakings
Other debtors and prepayments		 2022
£		 2021
£
297,855
46,939
34,179		 128,942
3,035
61,791
378,973 193,768

9 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2022
£		 2021
£
Trade creditors
Amounts owed to group undertakings
Other creditors and accruals		 137,455
470,559
483,396		 172,326
241,280
351,624
1,091,410 765,230

Bounce Back Foundation 28

Notes to the financial statements 31 March 2022

10 Analysis of net assets between funds

Tangible Balance
fixed assets at
and Net current 31 March
investments assets 2022
£ £ £
Unrestricted funds 61,697 (622,252) (560,555)
Restricted funds - 146,654 146,654
Total funds 61,697 (475,598) (413,901)
Tangible Balance
fixed assets at
and Net current 31 March
investments assets 2021
£ £ £
Unrestricted funds 30,820 5,044 35,864
Restricted funds - 97,388 97,388
Total funds 30,820 102,432 133,252

11 Restricted funds

Total funds
Total funds carried
brought forward at
forward at
1 April 2021
£		 Incoming
resources
£		 Resources
expended
£		 Net incoming
resources
£		 31 March
2022
£
Unrestricted funds 35,864 2,461,262
(3,057,681)		 (596,419) 560,555
Restricted funds
a. Gwyneth Forrester 20,664 - - 20,664
b. Paddington Development 9,654 19,570
(19,570)
-		 9,654
Trust
c. The Rayne Foundation 17,600 -
(95)
(95)		 17,505
d. Wates Foundation 9,800 -
-
-		 9,800
e. Fireclad - 20,000 (10,237) 9,763 9,763
f. MOJ Prison Leavers
- 424,799 (424,799) - -
g. Donations to support 39,670 68,000
(28,402)
39,598		 79,268
individuals entering
employment
Restricted funds 97,388 532,369
(483,103)		 49,266 146,654
Total funds 133,252 2,993,631
(3,540,784)
(547,153)		 (413,901)

a. Gwyneth Forrester

Funding to support 12 individuals who are homeless or at the risk of homelessness to provide employment skills and information and guidance.

b. Paddington Development Trust

Supporting adults in the local community with employment skills, information and guidance and work experience.

Bounce Back Foundation 29

Notes to the financial statements 31 March 2022

c. The Rayne Foundation

Funding towards a community training centre.

d. Wates Foundation

Funding to work with ex-offenders to gain level 2 qualifications and CSCS cards to secure future employment.

e. Fireclad

Introduction to dry lining and work experience with the intention of progressing to work placement for 12 participants.

f. MOJ Prison Leavers

Working with individuals who leave prison to develop employability skills to in turn to avoid reoffending.

g. Restricted Donations

Various grants and donations received for specific purposes to support the training and employability of ex-offenders.

Total funds
Total funds carried
brought forward at
forward at
1 April 2020
£		 Incoming
resources
£		 Resources
expended
£		 Net incoming
resources
£		 31 March
2021
£
Unrestricted funds 110,969 1,919,986
(1,995,091)		 **(75,105) ** 35,864
Restricted funds
a. Gwyneth Forrester - 22,730
(2,066)
20,664		 20,664
b. Paddington Development - 19,800
(10,146)
9,654		 9,654
Trust
c. The Rayne Foundation - 20,000
(2,400)
17,600		 17,600
d. Wates Foundation - 9,800
-
9,800		 9,800
e. Donations to support 4,253 85,101
(49,684)
35,417		 39,670
individuals entering
employment
Restricted funds 4,253 157,431
(64,296)		 93,135 97,388
Total funds 115,222 2,077,417
(2,059,387)
18,030		 133,252

12 Investments

Bounce Back Foundation owns 100% of the Ordinary Share Capital of Bounce Back Project Limited.

Bounce Back Foundation 30

Notes to the financial statements 31 March 2022

13 Trustee and related party transactions

During the year, no Trustee received any remuneration or expenses. (2020-2021: £nil).

Transactions with other entities within the group are not disclosed as the company has taken advantage of the exemption available under FRS102, as the consolidated accounts for Change Grow Live in which the company is included are available at the address noted in note 12.

14 Ultimate Holding Company

The ultimate parent undertaking, from 29 July 2020, is Change Grow Live. Change Grow Live is a company limited by guarantee (registered number: 03861209) which is incorporate and registered in England. The address of the registered office is 3[rd] Floor, North West Suite, Tower Point, 44 North Road, Brighton, East Sussex, BN1 1YR.

The activity and purpose of Bounce Back Foundation aligns with the charitable objectives of Change Grow Live, centred on improving the lives of individuals and the communities in which they live.

The acquisition agreement included cash payments of up to a maximum of £50,000 to F Findlater, which was paid during the year. This also included the cancellation of redeemable preference shares held by F Findlater which had a redemption value of £214,000. F Findlater was a director of the company and a trustee of Bounce Back Foundation until 29 July 2020.

Bounce Back Foundation 31