**Balance Sheet as at** 31 March 2024 

## **Bounce Back Foundation** 

## **Trustees Report and Financial Statements** 

31 March 2024 

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

Bounce Back Foundation        1 



## **Contents** 

## **Reports** 

|**ports**||
|---|---|
|Reference and administrative details|3|
|Report of the Trustees|5|
|Independent auditor’s report|13|
|**Accounts**||
|Statement of financial activities|17|
|Balance sheet|18|
|Cash flow statement|19|
|Accounting policies|20|
|Notes to the financial statements|21|



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## **Reference and administrative details** 

|**Trustees**|Sue Killen|Deborah Rozansky|
|---|---|---|
||Richard Wilson|Jim Heptinstall|
||Jean Daintith|Caroline Shuldham|
||Craig Denholm|Tim Sampey|
||Elaine Hindal|Michael Vavakis|
|**Key management personnel**|Martin Halliwell||
||Shirley Riley||
|**Registered Office**|North Suite||
||First Floor||
||1 Jubilee Street||
||Brighton||
||BN1 1GE||
|**Principal office**|25B Wincott Street||
||Kennington||
||London||
||SE11 4NT||
|**Charity registration number**|1144297||
|**Company number**|07675301||
|**Auditor**|Crowe U.K. LLP||
||55 Ludgate Hill||
||London||
||EC4M 7JW||
||RSM UK (internal auditors)||
||6thFloor||
||25 Farringdon Street||
||London||
||EC4A 4AB||
|**Bankers**|Barclays Bank Plc||
||10-12 The Martletts||
||Crawley||
||RH10 1ES||



Bounce Back Foundation        3 



## **Reference and administrative details** 

**Solicitors** DMH Stallard Griffen House 135 High Street Crawley, West Sussex RH10 1DQ Hempsons The Exchange Station Parade Harrogate, North Yorkshire HG1 1TS 

Bounce Back Foundation        4 



**Report of the Trustees** 31 March 2024 

The trustees present their statutory report together with the financial statements for the year ended 31 March 2024. 

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 20 to 22 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, a charity and social enterprise, strives to give young people and adults who have a history of, or are at risk of, offending the opportunity to thrive as individuals and shape a society where everyone can look forward to a bright future. 

We offer; 

**Valuable Support:** giving young people and adults confidence, skills and belief in themselves to redefine who they are, make new choices – the chance to change. 

**Diversion services:** reaching and changing the lives of young people in police custody, and the community who could otherwise, or have already found themselves caught up in criminal activities. 

**Training services:** providing hard and soft skills that employers want and need with recognised and tailor-made qualifications in construction. 

**Employment services:** providing employers with work-ready people to meet their recruitment needs, with in-work support to ensure every success. 

**Construction services:** providing painting & decorating, emergency repairs, maintenance and refurb services, through our social enterprise. 

Bounce Back strives to support as many people as our funding allows, and sources from a range of income streams to provide an end-to-end solution to reducing crime, reoffending and drive social mobility – whether that’s from prison and through the gate; in police custody, or the wider community; and until an individual has settled in a job through our in-work support.  We know with more funding we could do more and thank all our supporters and funders for their contributions, which help us make a difference. 

2023/24 saw us grow the number of services, and as such our offer. Our employment services now run across several London prisons and Boroughs, with our diversion services for young people operating from 12 London custody suites, 4 Premier League football clubs and in-reach into local communities. Construction has and continues to be a significant part of what we do, with 5 training hubs in 4 prisons as well as a community hub 

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**Report of the Trustees** 31 March 2024 

## **Objectives and Activities (continued)** 

in our new head office at Kennington. We have plans to expand across London and nationally in coming years. 

## _**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, 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. 

## **How they support participants** 

The fundamental principle is around engaging with participants on a one-to-one basis with a dedicated Coach. Building trust and through robust assessment our coaches support participants to navigate our training and employability offer as well as the full wrap around to address offending behaviour, confidence and wellbeing; referring to our vast range of partners for specialist support to address housing, mental health and substance use. 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 continues to develop 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. 

Bounce Back run City & Guilds qualifications and during 2023/24 have expanded their offer to include assured badges, which not only enables people to have the qualifications employers want and need, but to demonstrate work-readiness to prospective employers too. Our courses now cover resettlement, budgeting, upcycling green skills, painting and decorating, scaffolding, dry-lining, multi-skills, tiling, CSCS card, health and safety as well as a full range of employability preparation, and in-work support. 

## **Impact and Influence** 

During the year we have supported 1,594 people, an increase of 14% from 2022/23. We have offered everyone pre-employment, wrap-around, through-the gate and in-work support. Suitable accommodation and help addressing substance use remains a common issue, to which everyone is assessed, and onward referrals made to our partners, including our parent company Change Grow Live. 

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**Report of the Trustees** 31 March 2024 

In 2023/24 we delivered over 6,000 training hours to participants in prison, and a further 3,000 in the community, with 51% of people accessing our services have been supported into training or securing jobs across the full range of sectors. Our employability service support people with complex challenges, working with employers and providing in-work support, our Adder and IPS services have 100% people still in work at 6 months. 

As we provide more social value and contribute to section 106 outcomes for local authorities, Bounce Back are developing ways of demonstrating this in-kind contribution. 

## **Responding to need** 

The cost to society of crime and substance use is significant, around £18.1m per annum to the taxpayer. It costs circa £48,409 to keep one person in prison for a year, with a current population of circa 87,982 (Feb 24), the prison population has risen by 93% in the UK in the last 30 years and is predicted to grow by a further 17,000 by 2026. The re-offending rate for people leaving prison leavers serving under 12 months is at a rate of 53.9%. Prison reform plans seek to change sentencing to address re-offending rates, with charities like Bounce Back positioned to provide end-to-end solutions that both prevent and significantly reduce reoffending – both changing lives and societal impact. 

With a UK population of 1.44 million unemployed people, recruiters are struggling to recruit and retain people with relevant skills. In 2023/24 levels rose by a further 94,000. The construction industry alone has identified that they need an additional 260,000 skilled people in the sector by 2030 and are already struggling to fill posts. As a result, this year more than ever, Bounce Back have experienced a positive shift from employers actively engaging with our charity as part of their wider recruitment strategies, to take on people with a history of offending. 

Bounce Back services support people furthest from the labour market, and with a range of complex challenges. The majority of people we work with report never having had a job before. Our belief is that sustainable employment allows people to lift themselves away from criminal activity, out of poverty and move into to a place of financial inclusion, where they can thrive and contribute to society. 

## **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 employs people with lived experience, some of which have accessed its own services. Its aim is to create pathways for participants to gain confidence and experience as well as paid work with Bounce Back alongside routeways to self-employment and wider employment opportunities. 

The social enterprise generates its income from commercially tendering for jobs in painting and decorating, refurbishments, emergency repairs and maintenance. 2023/24 saw a growth in contracts to 379 in the year, from 152 the previous year. The team have worked on corporate offices, art galleries, schools, housing association and residentials. 

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**Report of the Trustees** 31 March 2024 

## **Change Grow Live** 

Change Grow Live remains the sole member of Bounce Back Foundation since 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 live. 

Change Grow Live provide infrastructure support through their core centralised functions, enabling efficiencies for Bounce Back and access to specialist support and expertise as needed to benefit both organisations. 

Change Grow Live provide contracting opportunities to the social enterprise as part of its social values from their facilities management directorate. 

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**Report of the Trustees** 31 March 2024 

## **Achievements and Performance** 

## **Award winning charity** 

During the year, Bounce Back have won several awards: 

**Southwark Business Excellence Awards** – commended as best charity, for employability services to people across the Borough. 

**Robin Corbet Award** – highly commended for work in HMP Brixton supporting people in prison to gain qualifications pre-release and then transition into sustained employment in construction on release. 

**London Region Construction Training Group Award** – best training provider, recognised for our high-quality best practice and comprehensive training in prison and community. 

**Metropolitan Central North Policing** - BCU Commanders Award, for leadership, dedication and commitment 

**National Crimebeat** – High Sherrif of Greater London Award, for our young ambassadors supporting diversion from crime of 18-25 year olds. 

## **Financial Review** 

## _**Financial statements**_ 

The charity generated a loss of £142,423 during the year (2023 - loss of £197,335), with a deficit on unrestricted funds of £131,908 (2023 - deficit of £79,211) and a deficit on restricted funds of £10,515 (2023 – deficit of £118,124). 

Income generated was £2,585,988 (2023 - £3,512,646) arising from charitable activity and donations from various trusts, foundations, private funders, and companies. Contracts which include No Going Back and Prison Leavers came to an end during the year. 

Total expenditure for the year was £2,748,411 (2023 - £3,709,981). 

Change Grow Live are committed to Bounce Back Foundation and believe in the longterm viability of the charity. It supports the clear strategic direction and the ambition for sustainable growth. 

## _**Financial position**_ 

The charities total negative funds of £555,173 (2023 – negative of £412,750) are represented by a positive restricted fund of £18,015 (2023 - £28,530) and unrestricted negative fund of £573,188 (2023 - negative of £441,280). 

The Foundation received restricted funding of £73,000 and spent £83,514 in 2023/24 resulting in restricted funds at the year-end of £18,015. 

Bounce Back Foundation        9 



**Report of the Trustees** 31 March 2024 

## _**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 if there are any gaps in funding. 

The trustees are seeking to build the general reserves to provide sufficient funds 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 resources of the charity have been restructured to ensure that resource levels match current obligations whilst providing appropriate infrastructure to develop the charity. It is anticipated that the charity will start to improve its reserves position through the addition of new contracts. 

## _**Going concern**_ 

The trustees have confirmed that it is appropriate to use the going concern assumption 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. 

Over the next 12 months, the charity is reliant on the committed support of its parent, to ensure it has the resources to meet its commitments as they fall due and continue as a going concern. The charity is reviewing its strategic plans for the near future with the aim of working towards break even position. 

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**_ 

The charity continues to explore the education, training and employability sector to identify potential contracts that meet the charities objectives. Despite the current economic climate, the trustees consider that there are good possibilities for the charity to utilise its expertise and experience. 

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. 

## _**Fundraising**_ 

The Foundation does not directly fundraise from individuals and is therefore not registered with the Fundraising Regulator. The Foundation does receive gifts, grants and donations which may relate to specific activities. These restricted funds are managed appropriately, and activities are undertaken in line with the restrictions. 

Bounce Back Foundation        10 



**Report of the Trustees** 31 March 2024 

## **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: 

Sue Killen Caroline Shuldham Richard Wilson Elaine Hindal Rachel Atkinson (deceased 21 Sept 2023) Deborah Rozansky Jean Daintith Jim Heptinstall Craig Denholm Tim Sampey Michael Vavakis (appointed 13 Dec 2023) 

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. 

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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any 

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**Report of the Trustees** 31 March 2024 

## _**Statement of Trustees' Responsibilities (continued)**_ 

- 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 charitable company will continue in business. 

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: 

- So far as the trustee is aware, there is no relevant audit information of which the charity’s auditor is unaware; and 

- Each trustee has taken all the steps that he/she ought to have taken as a trustee to make himself/herself aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information. 

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. 

Approved by the Trustees and signed on their behalf by: 


Trustee – Sue Killen 

Date:  18[th] September 2024 

Bounce Back Foundation        12 



**Independent auditor’s Report Year** ended 31 March 2024 

## **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 2024 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: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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 

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## **Independent auditor’s Report Year** ended 31 March 2024 

other information is materially inconsistent with the financial statements or our 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 

- the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements. 

## **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: 

- adequate and proper accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ and directors’ report and from the requirement to prepare a strategic report. 

## **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 2024 

## **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, together with the Charities SORP (FRS 102) 2019. 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 and employment legislation. 

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 irregularities, including fraud, to be within the timing and recording of income, and the 

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**Independent auditor’s Report Year** ended 31 March 2024 

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: 7 November 2024 

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## **Statement of financial activities** Year to 31 March 2024 

|Notes|**Unrestricted**<br>**funds**<br>**£**|<br> <br> <br>**Restricted**<br>**funds**<br>**£**|**Total**<br>**2024**<br>**£**|Unrestricted<br>funds<br>£|Restricted<br>funds<br>£<br> <br>-<br>673,068<br> <br>-<br>673,068<br>791,192<br> <br>-<br> <br>-<br>791,192<br>(118,124)<br>(118,124)<br>146,654<br> <br>-<br>146,654<br>28,530|Total<br>2023<br>£|
|---|---|---|---|---|---|---|
|**Income from:**<br>Donations and<br>legacies<br>1<br>Charitable activities<br>2<br>Gifts in Kind<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>3<br>Raising funds<br>4<br>Gifts in Kind<br>**Total expenditure**<br>**Net (expenditure) /**<br>**income**<br>**Net movement in**<br>**funds for the year**<br>**Reconciliation of**<br>**funds**<br>Total funds brought<br>forward (as<br>previously stated)<br>Prior year<br>adjustments<br>7<br>Total funds brought<br>forward (as<br>restated)<br>**Total funds carried**<br>**forward**|**38,548**<br>**2,393,032**<br>**81,408**|**-**<br>**73,000**<br>**-**|**38,548**<br>**2,466,032** <br>**81,408**|73,334<br> 2,714,264<br>51,980||73,334<br>3,387,332<br>51,980|
||**2,512,988**|**73,000**|**2,585,988**|2,839,578||3,512,646|
||**2,493,462**<br>**70,026**<br>**81,408**|**83,515**<br>**-**<br>**-**|**2,576,977** <br>**70,026**<br>**81,408**|2,827,456<br>39,353<br>51,980||3,618,648<br>39,353<br>51,980|
||**2,644,896**|**83,515**|**2,728,411**|2,918,789||3,709,981|
||**(131,908)**<br>**(10,515)**||**(142,423)**|<br>(79,211)||(197,335)|
||**(131,908)**<br>**(10,515)**<br>**(441,280)**<br>**28,530**<br>**-**<br>**-**||**(142,423)**<br>**(412,750)**<br>**-**|<br>(79,211)<br> (560,555)<br>198,486||(197,335)<br>(413,901)<br>198,486|
||**(441,280)**|**28,530**|**(412,750) **|(362,069)||(215,415)|
||**(573,188)**<br>**18,015**||**(555,173) **|(441,280)||(412,750)|



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**Balance Sheet as at** 31 March 2024 

|Notes|**2024**<br>**£**|**2024**<br>£<br>**17,121**<br>**100**<br>**17,221**<br> <br> <br> <br>**(572,394)**<br> **(555,173)**<br>**18,015**<br> **(573,188)**<br> **(555,173)**|2023<br>£|2023<br>£|
|---|---|---|---|---|
|**Fixed assets**<br>Tangible assets<br>8<br>Investments<br>13<br>**Total fixed assets**<br>**Current assets**<br>Debtors<br>9<br>Cash at bank and in hand<br> <br> <br>**Current liabilities:**<br>Creditors: amounts falling due<br>within one year<br>10<br>**Net current liabilities**<br>**Net liabilities**<br>**The funds of the charity:**<br>Restricted funds<br>12<br>Unrestricted funds:<br>12<br>**Total funds**|**304,846**<br> **1,511,487**||1,038,118<br>1,463,064|42,100<br>100|
|||||42,200|
|||||<br> <br> <br>(454,950)|
||**1,816,333**<br> **(2,388,727)**||2,501,182<br> (2,956,132)||
||<br> <br> <br> <br> <br>||<br> <br> <br>||
|||||(412,750)|
|||||28,530<br> (441,280)|
|||||(412,750)|



Approved and authorised for issue by the Board on 18 September 2024 and signed on their behalf by: 


Trustee – Sue Killen Date: 18 September 2024 

Bounce Back Foundation Company No. 07675301 

Bounce Back Foundation        18 



**Statement of Cash Flows as at** 31 March 2024 

||**2024**<br>**£**|2023<br>£|
|---|---|---|
|**Cash flows from operating activities:**<br>|||
|~~Net cash generated / (used in) operating activities (note A)~~<br>**Cash flows from investing activities**<br>Purchase of plant and equipment<br>**Net cash used in investing activities**<br>**Change in cash, cash equivalents and net debt in the year**<br>**Cash, cash equivalents and net debt at 1 April 2023**<br>**Cash, cash equivalents and net debt at 31 March 2024**|~~**48,423**~~|~~1,232,908~~|
||||
||**-**|(6,683)|
||**-**|(6,683)|
||**48,423**|1,226,225|
||**1,463,064**|236,839|
||||
||**1,511,487**|1,463,064|



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

||**2024**<br>**£**|2023<br>£|
|---|---|---|
|**Net movement in funds per statement of financial activities**<br>|||
||~~**(142,423)**~~|~~(197,335)~~|
|~~**Adjustments for:**~~<br>Depreciation charge<br>Decrease / (increase) in debtors<br>(Decrease) / increase in creditors<br>**Net cashgenerated from operating activities**|**24,979**<br>**733,272**|26,180<br>(632,802)|
||**(567,405)**|2,036,865|
||**48,423**|1,232,908|



Bounce Back Foundation        19 



**Accounting Policies** 31 March 2024 

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 on 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 North Suite, First Floor, 1 Jubilee Street, Brighton, East Sussex, BN1 1GE. 

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 Companies Act 2006. 

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: 

- Estimating the useful economic life of tangible fixed assets for the purposes of calculating depreciation; and 

- Estimating the likelihood of receipt of accrued income balances. 

## **Assessment of going concern** 

## _**Going concern**_ 

The trustees are confident that the charity will retain its current key training contract work through 2024/25 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. 

The charity 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. The charity is reviewing its strategic plans for the near future with the aim of working towards break even position. 

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

Bounce Back Foundation        20 



**Accounting Policies** 31 March 2024 

## **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 must 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. 

## **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: 

- Expenditure on generating funds include the salaries, direct costs and allocated support costs associated with generating fundraising income. 

- Expenditure on charitable activities comprises expenditure on the charity’s primary charitable purposes as described in the Trustees’ report. 

Bounce Back Foundation        21 



**Accounting Policies** 31 March 2024 

## **Allocation of support and governance costs** 

Support costs represent indirect charitable expenditure. 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: 

- Motor vehicles 

- Computer and office equipment 

25% p.a. on reducing balance 33% p.a. on cost 

## **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. 

## **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. 

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. 

Bounce Back Foundation        22 



**Notes to the financial statements** 31 March 2024 

## **Pensions** 

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

- **1 Income from donations and legacies** 

|**Income from donations and legacies**|||
|---|---|---|
||**2024**<br>**£**|2023<br>£|
|**Unrestricted**<br>Individual donations<br>Corporate donations<br>**Total**|**2,223**<br>**36,325**|-<br>73,334|
||**38,548**|73,334|



- **2 Income from charitable activities** 

|**Income from charitable activities**|||
|---|---|---|
||**2024**<br>**£**|2023<br>£|
|Training and employability|**2,466,032**|3,387,332|
||**2,466,032**|3,387,332|



## **3 Expenditure on charitable activities** 

||**Direct**|**Support**|<br>**2024**|Direct|Support|2023|
|---|---|---|---|---|---|---|
||**costs**|**costs**|**Total**|costs|costs|Total|
||**£**|**£**|**£**|£|£|£|
|Training and|**1,896,715**|**672,216**|**2,568,931**|3,067,402|539,978|3,607,380|
|employability|||||||
|**Total**|**1,896,715**|**672,216**|**2,568,931**|3,067,402|539,978|3,607,380|



Bounce Back Foundation        23 



## **Notes to the financial statements** 31 March 2024 

## **4 Expenditure on raising funds** 

|**Expenditure on raising funds**|||
|---|---|---|
||**2024**<br>**£**|2023<br>£|
|**Direct costs**:<br>Fundraising costs<br>Salary costs<br>Support costs (note 5)<br>**Total expenditure on raising funds**|<br>**3,628**<br>**58,352**|1,183<br>26,902|
||**61,980**<br>**8,046**|28,085<br>11,268|
||**70,026**|39,353|



Expenditure on raising funds was unrestricted for both the years. 

## **5 Support and governance costs** 

## _**Support costs**_ 

|**_Support costs_**||||
|---|---|---|---|
||Charitable<br>activities<br>£|Cost of<br>raising<br>funds<br>£|**2024**<br>**£**|
|Staff costs<br>Freelancers<br>Property costs<br>Professional fees<br>Marketing<br>Office costs<br>Depreciation<br>Other administration costs|391,120<br>6,143<br>150,129<br>15,002<br>4,063<br>39,310<br>22,208<br>44,241|4,418<br>202<br>1,739<br>232<br>386<br>381<br>382<br>306|**395,538**<br>**6,345**<br>**151,868**<br>**15,234**<br>**4,449**<br>**39,691**<br>**22,590**<br>**44,547**|
||672,216|8,046|**680,262**|
||Charitable<br>activities<br>£|Cost of<br>raising<br>funds<br>£<br>6,187<br>282<br>2,435<br>324<br>541<br>534<br>535<br>430<br>11,268|2023<br>£<br>**302,671**<br>**13,820**<br>**119,127**<br>**15,868**<br>**26,446**<br>**26,114**<br>**26,180**<br>**21,020**<br>**551,246**|
|Staff costs<br>Freelancers<br>Property costs<br>Professional fees<br>Marketing<br>Office costs<br>Depreciation<br>Other administration costs|296,484<br>13,538<br>116,692<br>15,544<br>25,905<br>25,580<br>25,645<br>20,590|||
||539,978|||



Bounce Back Foundation        24 



**Notes to the financial statements** 31 March 2024 

## _**Governance costs included within professional fees**_ 

|**_Governance costs included within professional fees_**||||
|---|---|---|---|
|||**Unrestricted**||
|||**2024**<br>**£**|2023<br>£|
|Auditor’s remuneration<br>Legal costs||**11,830**<br>**914**|12,634<br>-|
|||**12,744**|12,634|



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 2024 (2023 - £nil to no Trustees). 

No Trustees received any remuneration during the year ended 31 March 2024 (2023 - £nil) 

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

## **6 Staff costs** 

|**Staff costs**|||
|---|---|---|
||**2024**<br>**£**|2023<br>£<br>1,950,548<br>194,916<br>43,427<br>55,763<br>2,244,654|
|Wages, salaries<br>Social security<br>Pension costs<br>Recruitment costs|**1,647,848**<br>**159,548**<br>**41,351**<br>**29,239**||
||**1,877,986**||



The average number of employees during the year was 45 (2023 - 54). 

The number of employees who earned between £60,000 - £69,999 per annum during the year was 1 (2023 - 1). 

## _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 Operations Director.  The total remuneration, (including taxable benefits and employers national insurance contributions) payable to the key management personnel during the year was £58,498 (2023 - £76,551).  Both the Executive Director and the Operations Directors costs are borne by the parent company Change Grow Live. 

Bounce Back Foundation        25 



## **Notes to the financial statements** 31 March 2024 

## **7 Prior Year Adjustments** 

|**Prior Year Adjustments**||
|---|---|
||**2022**<br>**£**|
|Opening reserves at 1 April 2022 (as previously stated)<br>Prior year adjustments<br> <br>a) Prepayment adjustment<br> <br>b) Trade creditor adjustment<br> <br> <br> <br>Opening reserves at 1 April 2022 (restated)<br>In the prior year the Finance system migration resulted in the duplicate<br>processing of a small number of transactions. The above adjustments<br>correct the opening reserves as at 1 April 2022.|**(560,555)**<br>26,343<br>172,143|
||198,486|
||**(362,069)**|
|||



## **8 Tangible fixed assets** 

||**Motor**<br>**vehicles**<br>**£**|**Office**<br>**equipment**<br>**£**|**Computer**<br>**equipment**<br>**£**|**Total**<br>**£**|
|---|---|---|---|---|
|**Cost**<br>At 1 April 2023<br>At 31 March 2024<br>**Depreciation**<br>At 1 April 2023<br>Charge in year<br>At 31 March 2024<br>**Net book value**<br>At 31 March 2024<br>At 31 March 2023|16,000|20,593|74,455|111,048|
||**16,000**|**20,593**|**74,455**|**111,048**|
||16,000<br>-|16,015<br>2,389|36,933<br>22,590|68,948<br>24,979|
||**16,000**|**18,404**|**59,523**|**93,927**|
||**-**|**2,189**|**14,932**|**17,121**|
||-|4,578|37,522|42,100|



Bounce Back Foundation        26 



## **Notes to the financial statements** 31 March 2024 

## **9 Debtors** 

||**2024**<br>**£**|2023<br>£|
|---|---|---|
|Trade debtors<br> <br>Amounts owed by group<br>undertakings<br> <br>Other debtors and prepayments<br> <br> <br>**Creditors: amounts falling due within one year**|**303,503**<br>**-**<br>**1,343**|533,740<br>372,444<br>131,934|
||**304,846**|1,038,118|
||**2024**<br>**£**|2023<br>£|
|Trade creditors<br> <br>Amounts owed to group undertakings<br> <br> <br>Other creditors and accruals<br> <br> <br>|**13,923**<br> **1,896,740**<br>**478,064**|66,507<br>2,390,406<br>499,219|
||**2,388,727**|2,956,132|



## **10 Creditors: amounts falling due within one year** 

## **11 Analysis of net assets between funds** 

||**Tangible**|||
|---|---|---|---|
||**fixed**||**Balance**|
||**assets and**|<br>**Net current**|**at**|
||**investment**|**(liabilities)/**|**31 March**|
||**s**|**assets**|**2024**|
||**£**|**£**|**£**|
|**Unrestricted funds**|17,221|<br>(590,409)|(573,188)|
|**Restricted funds**|-|<br>18,015|18,015|
|**Total funds**|**17,221**|**(572,394)**|**(555,173)**|



||Tangible|||
|---|---|---|---|
||fixed assets|||
||and|Net|Balance|
||investment|current|at|
||s|(liabilities)/|31 March|
||£|assets|2023|
|||£|£|
|Unrestricted funds|42,200|<br>(483,481)|<br>(441,281)|
|Restricted funds|-|<br>28,530|<br>28,530|
|Total funds|42,200|<br>(454,951)|(412,751)|



Bounce Back Foundation        27 



**Notes to the financial statements** 31 March 2024 

## **12 Restricted funds** 

|**Restricted funds**|||||||
|---|---|---|---|---|---|---|
||||||**Total**||
||**Total funds**||||**funds**||
||**brought**||||**carried**||
||**forward at**|||**Net**|**forward at**||
||**1 April 2023**|**Income**|**Expenditure**|**(expenditure)**|**31 March**||
||**£**|**£**|**£**|**£**|**2024**||
||||||**£**||
|**Unrestricted funds**|**(441,280)**|**2,512,988**|**(2,644,896) **|**(131,908)**|**(573,188)**||
|**Restricted funds**|||||||
|a. Wates Foundation|9,800|-|<br>(9,800)|<br>(9,800)||-|
|b. Donations to support|18,730|73,000|<br>(73,715)|<br>(715)|18,015||
|individuals entering|||||||
|employment|||||||
|**Restricted funds**|**-28,530**|**73,000**|<br>**(83,515)**|**(10,515)**|**18,015**||
|**Total funds**|**(412,750)**|**2,585,988**|**(2,748,411) **|**(142,423)**|**(555,173)**||



## **a. Wates Foundation** 

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

## **b. Restricted Donations** 

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

|||||||**Total**||
|---|---|---|---|---|---|---|---|
|||**Total funds**||||**funds**||
|||**brought**||||**carried**||
|||**forward at**|**Incoming**|**Expenditure**|**Net**|**forward at**||
|||**1 April 2022**|**£**|**£**|**(expenditure)**|**31 March**||
|||**£**|||**£**|**2023**||
|||||||**£**||
|**Unrestricted funds**||**(362,069)**|**2,839,578**|**(2,918,790)**|**(79,212)**|**(441,281)**||
|**Restricted funds**||||||||
|c.|Gwyneth Forrester|20,664|-|<br>(20,664)|<br>(20,664)||-|
|d.|Paddington|9,654|-|<br>(9,654)|<br>(9,654)||-|
||Development Trust|||||||
|e.|The Rayne Foundation|17,505|-|<br>(17,505)|<br>(17,505)||-|
|f.|Wates Foundation|9,800|-|<br>-|<br>-|9,800||
|g.|Fireclad|9,763|-|<br>(9,763)|<br>(9,763)||-|
|h.|Donations to support|79,268|10,270|<br>(70,808)|<br>(60,538)|18,730||
||individuals entering|||||||
||employment|||||||
|i.|Ministry of Justice|-|662,798|<br>(662,798)|<br>-||-|
|**Restricted funds**||**146,654**|**673,068**|<br>**(791,192) **|**(118,124)**|**28,530**||
|**Total funds**||**(215,415)**|**3,512,646**|**(3,709,982) **|**(197,336)**|**(412,751)**||



Bounce Back Foundation        28 



**Notes to the financial statements** 31 March 2024 

## **13 Investments** 

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

## **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 North Suite, First Floor, 1 Jubilee Street, Brighton, East Sussex, BN1 1GE. 

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. 

## **15 Related Party Transactions** 

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 14. 

Bounce Back Foundation        29