THE GREEN ROOM FOUNDATION LTD REPORT OF THE TRUSTEES AND FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST20Z3 Charity Number 1149294 Company Number07916254
THE GREEN ROOM FOUNDATION LTD INDEX P•ge Trustees, Report Audltorfs Report 9-12 Statement of Flnan¢lal Actlvltles 13 Balance Sheet 14 Staternent of Cash Flows 15 Notes to the Accounts 1&25
THE GREEN ROOM FOVNDATION LTD Trustees, Report For ihe year ended 31 August 2023 The Trustees who are also 1ctOrS of the charity for the purp05e5 of the Companie5 Art 2CQ6, present their annual report and the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provlsions of Accounting and Reporting by Charities: Statement of Recommended Pra¢tl¢e applicable to charities preparin8 their account5 in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Iland IFRS 1021 leffertive l January 20191. OBJECllVESAND AcfiviTIES Overall Objectives and Aims: To provide audack)us and unmissable edwatlon for our pupils. - To be the number one independent school In the borough for young people that ore no longer succeeding in mainstream education. To re-ignite a passlon for education in all of our students. To meet all of the students, therapeutlc needs. To provide con51Stent SUPPOrt and1Sfe changing opportunities for every single student. Objectives for the Year: To embed the increase to 40 pupils at our KSngsley school successfully. To improve and Èxtend the facilities for all our slxth form pupils at The Swan, including the installation of a professional kitchen, a POP-LTrP shop space, a workshop for cycle and engineering teachingi and a reception area for admin staff and visitors. To contlnue to develop yatIonal and work experience opportunitie5 for all pupils in conjunction with the community at The Swan us5ng innovative bu5ine55 ideas for puplls Sn a real lrfe context. - To maintain OFSTED"Outstand1n standards in all areas of all our provisions. - To achleve the above regardle55 of any lrnpact of pandemiclepidemic eg COVID-19. Bird Flu etc. Significant activities We provide Academlc and Therapeutic development for youn8 people aged frcrtn 11-25 who are no longer accessing mainstream educatw)n. We alm to help the students achleve English, Maths and Science G.C.S.E's and Entry Level Certiflcates. and The Arts Award and to access therapeutlc support, amongst other qualifications, and to keep them engaged in their own education and enable them to move on successfully from The Green Room at the appropriate time. At our farm school we Complement academic actNities with farm-based leaming vla BTEC Land Based Studies and Construction qualifications. Public benefit The Green Room Schools are now established and trusted atternative provisions within councils in and around Berkshire. Surrey, Hampshlre and Bu¢klnghamshire. The sense of achievement seen in our pupils is evèn greater when we take into account our results were realised against a background of eating disorders, anorexia, frartured home lives. non existent family suppon and the damagin8 efferts of both mental and physical bullying that these students èxperienced in mainstream gchoolin8.
THE GREEN ROOM FOUNDAnoN LTD Trustees, Report Icontlnued...) For the year ended 31 August 2023 We support bath our young people and their parents to minimise the long term effects of not going to school. By solvingthe IUeS earfy In The Green Room we can help ward off future issues in the community such as crime. drug i55ues and the effects of youngsters long term out of work. We continue to mSnlmise the effects of Covid-19 pandemic on our pupils by supporting them through mutism, self hami and other mental health issues whlch could Impa¢t their learning. Volunteers We are very open to receiving help from appropriately qualrfied volunteers. Graduates have played a key role in our charlty by givlng us thelr time. energy and enthusiasm. which then provides u5 Wlth more opportunitie5 to spend much needed one-to-one time with our students. ln return, the graduates galn knowledge of what It takes to run a succèssful charity and how supporting our young people can make a dlfference to the outcome of their lives. Additionally we recrnit volunteers fmm the two senior schools in Windsor- The Windsor Boys School and The Windsor Girls School- many of our Staff were educated there and we believe those who currently attend and are Inte$ted in teaching should be offered an opportunity to try out an LSA role. We hope In time that once these young people have gone through the university system they may wish to become future members of staff. We have utlllsed many volunteers from our communltles as part of The Swan Elders programme at Green Room College. Having given their time and expertise to The Swan there are many who are interested in helping our youn8 people with gainin8 new skills and experiences. ACHIEVEMENTS AND PERFORMANCE Staff Wellbelng: Our organisation is ivs staff and the Trv5tees and mana8ementtake particular care to ensure the well-being and happiness of our staff. Our success In this area Is reflerted In ourvery low staff turnover and very pleasing results to regular staff surveys. Fundrolsln8 Artlvltles: Fundralslng has been led by a significant donation of time. materia15, expertise and hard work at The Swan meaninB we have been able to develop significant areas of The Swan without payment. In addition we are in receipt of regular donations from alumnus and their families, as well as fundraising by family member5 of the staff. OFSTED: We were judged OFSTED °Outstandin¥' in all areas of all our provi5ion5 again.. GRWIGRC in June 2023 and GRK In Ortober 2023. Financial Review School fees have increased to £2,993,86612022-. £2,702,064) as a result In the increase the number of pupils. Otjr school running costs have increased to £2,410,65112022.. £2,036.7111. This is mainly due to an increase in our staffing costs which was deemed necessary given the increase in pupil numbers and to enhan the dellvery of the educatlonal services and support provlded by the charlty.
ThE GREEN ROOM FOUNDATION LTD Trustees, Report {Continued...I For the year ended 31 Au8USt 2023 Our unrestricted fund balance, a5 Of 31st August 2023, of £2.689.22812022'. £2,070,553) enables US to remaln robust and continue to meet its airns and objective5, providing vital servlces for young people aged from 11-25 needing academlc and thor8pèutic development Total funds as at 31 August 2023 were £2,759,22812022.. £2,156,803) and include restricted building funds of £70.CO) 12022- £86,2501. Resee5 Policy: Our pollcy has been amended to take into account the cyclical nature of our Income. We now aim to have resetves equivalent to between four and eight months running costs. We are ochieving this. We are also retaining funds for a future property purchase in order to avoid borrowin8 funds unnecessarlly In the fijture. Fees Recelved In Advance.. We blll our school fees in advance and work di118ently to agree terms, source purchase orders and chase for payment. Some councils are facing financbal difficultles andlor stafflng issues in thi5 regard, however it remain5 a high priorlty key objective for the Finance Team. FUre Plans: We have purchased 104 Maidenhead RoatJ- the sSte directly adjacent to The Swan where The Green Room College Is located. We plan to create an opening to allow our students to have a 8arden to reflect in and make use of as this is lacking wtthin the current 51te. If planning permlssion pemiits we would like to further develop the site. We work with particularfocus on our puplls'"Futures" Including work experSence opportunities at our own events at The Swan and at other businesses in Windsor and the Kingsley area; in addltion to opportuniiies to undertake training and help to move on into apprenticeships, and with progression into paid employment or further study for a number of our young people. We have 'Futures" staff in all provisions. More outreach work is donè by executives and senior managers to help other Schools and we plan to extend this. UHY Ross Brooke prepare our Annual Accounts, and act as Audltors. Prlnclpal Fundlng Sourrns: The source of our fund5 was the councils In and around Berkshire. principally Royal Borough of Windsor and Maidenhead (Achieving for Children CICI, Surrey County Council, Hampshlre County Council and Buckinghamshire County Council. These funds cover the day-taY running costs of the school and ensure all students are well looked after when they are on our premlses. Ownershlp: In collaboration with the communlty and The Wlndsor and Eton Brewery we own The Swan In ClewerVilla8e, Windsor. We own 4A Albert Street- the base for The Green Room School, Wind50r. We own a modular bullélng in our Kingsley site.
THE GREEN ROOM FOUNDATION LTD Trustees. Report IContlnued...I For the year ended 31 August 2023 Strurture Governènce and Mana ment The Governing Document: The charity 15 controlled by its 8overninB document, a deed of trust, and constitutes a Ilmited company. limited by guarantee. as defined by the Companies Art 2006. The governing document was amended during the year to better reflect our current aims. Recruitment, Appointment, Indurtion and Train1 of New Trustees: Prospective new trustees are normally proposed by members of The Green Room School management team or by the incurnbent trustee5. Those prowsed are invited to a trustee meetlng and an advisory board meetlng as an observer to ensure thal they properly understand the workings of the company and the board. If they still wish to be a trustee, a formal election will take place at a designated trustee meeting. Trustees meet every school term la minimum of 3 times per yearl. Trustees are appointed for a three year period and may stand for re-election. New twstees, with appropriate skills, are selected at a designated trustees meeting. They are then given an induction and are provided with traiAln& appropriate to thelr Èxlstlng sklll seL Organi5ational Structure: Fergus Tinto Peter Rawlin& Rhona Miccoli are the directors of The Gen Room Foundatlon Ltd. with Amanda Gee joining in September 2023 IThe Trustees). Michelle Grant resigned as TrusteelDirector in 2022. (Ray Sawyer resigned in March 20241 Richard Allen 15 the CEO of The Green Room Foundation Ltd. He Is appointed by the Trustees, and is respc)nsible for the day to day management of the Charity and the schools. Danlelle Haxby is Director of Education, lane Nicholls is our School Business Director, and Lexie Sparksls our Operations Director with particular responslblllty for building projects. Callum Flanagan Is our Head of School at Green Room Wlnd50r. Becky Thompson is our Head of School at Green Room Kingsley and Ashley Sheehan is our Acting Head of khool at Green Room Colle8e. Risk Management: The trustees have a duty to identify and review the risks to which the charity is exposed to ensure appropriate controls are in place to provide reasonable assuranre against fraud and error. We have a responsibility to the Department for Education and have put processes in place to implement appropriate govemance, pupil progre55, Outcomes, behaviours and safeguarding. AJI staff are regularly tralned In safeguarding and child protection and we have adhered to the prc*esses required to ensure we deal with all 5afeguardinE 155ue5 quickly and decisively. We have a responsibillty to tsur customers Icouncilsl to ènsure we put protesses in place to deliver against our puplls. Educatlon Health Care Plans as well as the above educational standards. We have a responsibility to Environmental Health to ensure we operate to a high level of cleanliness for our catering operations. We have a responsibility to the public, our pupils. staff, visitors and others via the Health & Safety Executlve to ensure appropriate risk assessments and processes are in pla for all the pupils, locations and actlvities we undertake. We utilise a consultancy firm - Worknest- to assist in ensuring compliance to the complex standards required. Staff are first aid trained to ensure we can offer emergency first aid in school and on trips.
ThE GREEN ROOM FOUNDATION LTD Trustees, Report {Continued_.I Forthe year ended 31 Au8USt 2023 Referen¢e and Admlnlstratlve Detslls Registered company number.. 07916254 IEn8land an(i Wèlesl Registered charity number- 1149294 Reglstered office= 4A Albert Street, Windsor SL4 5BU Tntstees.. Fer8us Tlnto chrlstopher Peter Rawling Ray J Sawyer IResigned 9 March 20241 Rhona Miccoli Mlchelle Grant (Resigned 18 May 20231 Amanda Gee (Appointed l February 20241 Audltor: UHY Ross Brooke Chartered Accountant5 and Re8lStered Auditors Suiie I Wlndrush Court Abingdon Buslness Park Abingdon Oxfordshire OX14 ISY Bankers: Santander Bridle Road Bootle MeTseyslde L304GB
THE GREEN ROOM FOUNDATION LTD Trustee5' Report (Continued..,) Forthe year ended 31 August 2023 TRUSTEES. RESPONSIBIUTIES sfATEMENr The Trustees (who are also directors of The Green Room Foundatlon Ltd for the purposes of company lawl are responsible for preparinB the Trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice), Including Flnancial Reporting Standard 102 "The Financial ReportinE Standard applicable in the UK and Republic of Ireland" Company law requlres the Trustees to prepare financlal statements for each financlal year. Under ompany law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the State of affairs of the charitable company and of the incoming resources and application of resour$. including the income and expendSture. of the charltable company for that perlod. In prepailng these flnancSal statements, the Trustees afe required to.. select suitable accounting pollcies and then apply them consistsntlv. obsetve the methods and prlnclples In the Charities SORP- make jud8ments and accounting estimates that are reasonable and prudent: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charStable company w511 continue in operation. The Trustees are resptsnsiblè for keepin8 adequate accounting records that are sufficiÈnt to show and explaln the charitable company's transactions and disclose wlth reasonable accuracy at anv time the financial posttion of the charitable cornpany and enable them to ensure that the financial statements comply wlth the CompanSes Art 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as to disc11>5ure to auditors So far as each person who was a trustee atthe date approving this report is aware, there is no relevant audit information of which the charitable compan5 auditor is unawa. Aédltlonally, the trustees individually have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the charitsble companvs audStor Is aware of that Infom)atlon. This report has been prepared In attordance wlth special provlslons of part 15 of the Companies Art 2LTh)6 relating to small companies. Approved by order of the trustees on ... ........... ... and signed on its behalf by: ...... ustse P Rawling
TrIE GREEN ROOM FOUNOATION LTD INDEPENDENT ALIDITOWS REPORT TO THE TRUSTEES OF THE GREEN ROOM FOUNDATION LTD Oplnlon We have audlted the financSal statements of The Green Room Foundatlon lthe 'Charity'l for the vear ended 31 AuEUSt 2023 which comprise the Statement of financlal activities. the balance sheeL statement of cashflows and notes to the financial statements, including significant accounting policles. The financlal reporting framework that has been applied in their preparation is applicable law and Vnited Kingdom Accounting Standards. SncludSng Financial Reportlng Standard 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our oplnlon the financial statements.. Ive a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of Its incomlng resources and application of resources, for the year then ended; have been properly pPared in accordance with United Kingdom Generally Accepted Accounting Practlce,. and have been prepared in accordance with the requirements of the Companies Art 2006. Basls for oplnlon We conducted our audit in accordance with Irbtematlonal Standards on AudltlrE IUKI IISAS IUXII and applicable law. Our resF)onsibilities under those standards are further described in the Audltor s resp0115ibilitie5for the qudit of thefinonclalstatements section of our report. We arè independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the VK, intluding the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in aordanCe with these requirements. We believe that the audit evidence we have obtained Is sufficient and appropriate to provlde a basis for our opinlon. Conrlusions reloling to golng concern In auditing the financial statements. we have concluded that the dirertors, use of the going concern basis of a¢¢ountlng in the preparation of the financial Statements is approprlate. Based on the work we have performed. we have nol identlfied any material unrtaintieS relating to events or conditions thai, individually or collectivelyi may cast significant doubt on the charity's ability to continue as a Boing concern for a period of at least twelve months from when the finan¢lal statements are authorised for issue. Our reswnslbilities and the responsibilities of the directors with respect to going concern are described in the relevant 5ertions of thls report. Other Infomiation The other ir)formation ¢omprlses the Information included in the annual report other than the financlal statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our reSnsIbIlity is to read the other information and, in dolng so, consider whether the other information is materially in¢onsistènt with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such materlal inconsistencies or apparent materlal misstatements. we are required to determirbe whether thls 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 mi55tatement of thls other infomiation. we are required to report that fart. We have nothing to report in this regard.
THE GREEN ROOM FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT TO THE TRv¥fEES OF THE GREEN ROOM FOUNDATION LTD Opinims on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit= the information given in the trustees, report for the financial year for which the financial statements are prepared. which includes the directors, report prepared for the purposes of company law, 15 consistent with the financial 5tatements- and the strategic report and the directors, report have been prepared in accordance with applicable legal requirements. the dirertors, report included withln the trustee5' report has been prepareLI in accordance Wtth appllc8ble legal requirements. Matter5 on whlch we are requlred to report by emceptlon In the light of the kncmledge and under5tandin8 of the Charity and its environment obtained in the course of the audii we have not identified materlal misstatements in the directors, report included wlthin the trustees, report. We have nothlng to report in respert of the followlnB matters In relation to which the Companies Act 2(M)6 requires us to report to you if. In our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report.. or sufficient 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 requlred for our audlt. Responsibilitie5 of trustees As explalned more fully in the statement of trustees. responsibllities. the trustees. who are also the directors of the Charity for the purpose 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 frèud or error. In preparlng the financial statements, the trustees are responsible for assessing the ChariV5 ability to continue 05 a goin8 nrern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charStable company or to cease operations. or have no realistic alternative but to do so. Audltor's rÈsponslb51ft1es for the aud5t of the flnanclal statements We have been appointed ès auditor the Companies Att 2006 and report In accordance wlth the Act and relevant reBulations made or having effect thereunder. Our obJectSves a to obtain reasonable assurance about whether the finaKial 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 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are con51dered materi31 if, individually or in the a88regate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: io
THE GREEN ROOM FOUNDATION LTD INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF THE GREEN ROOM KIUNDATION LTD Identify and assess the risks of materlal mlsstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audlt evidence that is sufficient and appropriate to provide a basis for our opinion. The rlsk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may inv¢lve ¢ollusiorb, forgery. intentional omissions, misrepresentations, or the overrlde of internal control. Obtain an understanding of Internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the approprlateness of accounting policies used and the reasonableness of accountlng estimates and related disclosures made by the trustees. Conclude on the appropriateness of the tru5tees' use of the going concern basis of accountlng and, based on the audit evidence obtained, whèther a material uncertainty exists related to events or condition5 that may cast significant doubt on the charitable companvs ability to continue as a going concern. If we conclude that a material uncertainty exists. we are requlred to draw attention in our auditor'5 report to the related disclosures in the financial statements or. if such disc105ures are inadequate, to modify our opinion. Our conclusions are based on the udlt evldence obtalned up to the date of our èuditorfs report. However. future event5 Qr conditions may cause the charitable company to cease to continue as a going toncern. Evaluate the overall presentation, structure and content of the financial statements. includSng the dlsclosures, and whether the financial statements represent the undertying transactions and events in a mannerthat achieves fair presentation. We rommunicate with those charged with governance regarding. among other matters, the planned scope and timin8 of the audit and slgnificant audit findings, including any significant defi¢lencles in Internal control that we identify durin8 our audlt. In addltlon, as with any audit, there remained a higher risk of non-detection of fraud. as these may involve collusion, ftsrgery, intèntional omissions, misrepresentatlons, orthe override of internal controls. Our audit pro¢edures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect no compliance with all laws and regulations. A further description of our responsibilltles is available on the Financial Reporting Council's website at.. https=IlwwvJ.frc.org.uk/auditorsrespon5ibilities. This descriptlon forms part of our auditor's report li
THE GREEN ROOM FOUNDATION LTD INDEPENDENT ALIDITOIYS REPORT TO THE TRUSTEES OF THE GREEN ROOM FOUNDATION LTD Use of our report Thi5 report is made 501ely to the charity's members, as a body. In 8ccordance wlth Chapter 3 of Part 16 of the Companles Art 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to thern in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, orforthe opinions we have fomied. Caroline Webster FCA (Senior Statut¢ryAuditorl For and on behalf of UHY Ross Bi¢)oke, Slalutory Audltor Suite I WTrndrush Court Abingdon 8usiness Park Abingdon Oxfordshire OX14 ISY 22105124 12
THE GREEN ROOM FOUNDATION LTD STATEMENT OF FINANCIAL A1VITIEs 1114CLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023 Unrestricted Funds 2023 Restrirted Funds 2023 Total Funds 2023 Total Funds 2022 Notes Incoming Re50urce5 from.. Donations and legacies Charitabl• arti¥ili•s School fees 7,172 7.172 6,735 2,993,866 2,993.866 2,702,064 Other Incomè Investment Income 12,035 12,035 5,962 Total iOme 3.013.076 3,013,076 2,714.763 Re5tsurcés txpènded: Charltable artivitie5 School running costs 6ll 2,394,401 16,250 2,410.651 2,036,711 Total oxpenditure 2,394,401 16,250 2,410.651 2,036,711 Net gainslllossesl on investments Net income/lexp•ndlture) before transfer5 Transfers between funds Net movement of fund5 Sn 618,675 116,2501 602A25 678,052 618,675 {16,2501 602A25 678.052 year Reconciliation of funds.. Total funds brought forward Total funds carrfed forward 2,070,553 86.250 1156,803 1,478,751 2.689.228 70.000 2,759,228 2,156.803 The Statement of Financial Activltles Includes all gains and105ses recoBnised in the year. All income and expenditure derive from ¢ontlnuSng activities. 13
THE GREEN ROOM FOUNDATION LTD BALANCE SHEEr AS AT 31 AUGVST 2023 Notes 2023 2022 Fixed Assets Tangible assets Investments li 12 858,281 125,000 983,281 915,622 125.0(KJ 1.040,622 Current Assets Debtors Cash at bank 13 1,085,922 2.117.834 174.136 1,877,155 3.203,756 2,051.291 Creditors Amounts due within one year 14 11.221,5591 1683,8fAII Net Current Assets 1,982,197 1,367,431 Total Assets less f urrent liabilities 2,965,478 2,408.053 Credltors Amounts falllng due after more than one year 15 1206,2501 1251.2501 Totsl Net Assets 2.759,228 2,156.803 The Funds ofihe Charlty Restrirted income funds Unrestricted inttjme funds 19 18 70,000 2,689,228 86.250 2,070,553 Totsl Funds 2.759,228 2.156,803 These cOunts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These financial statements were approved by the Trustees on Board of Trustees by 2s£and 518ned on behalf of the P Rawlin Co ny Number 07916254 14
THE GREEN ROOM FOUNDATION LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 Notes 2023 2022 Cash used in operating actlvltles 21 306,439 1,202,924 Cash flows from Investlng activltles Interest received Proceeds from the Sale of red a55ets Purchase of fixed assets Proceeds from the sale of investments 120,7631 169,8411 Purchase of investments Cash provided by investing actNitie5 120.7601 169,3391 Cash flows from financing activities New loans In the year Loan repayments in the year Capital repayments in the year 145,0(N)I 145,tKKIl 145,0001 145,(KXJI Increase I IDecreasel in cash and cash equivalents in the year 240.679 1,088,585 Cash and cash equlvalents at the beginning of the year 1,877,155 788.570 Total cash and cash equivalents at the end of the year 2,117.834 1,877.155 15
TME GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 1. Accountlng Polldes The Green Room Foundation is a charitable company limited by guarantee and has no share capital. In the event of thè charity being wound up, the liability ol the guarantee is limited to £10 per member of the charity. The charity is registered in England and Wales. The registered offi'ce 15 4A Albert Street Windsor, SL4 58U. Basls of preparfng the Ilnanclal statements The fi'nancial 5taternents of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021'Accounling and Reporting by Charities= Statement of Recommended practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive 1 January 20191,, Financial Reportin9 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Cornpanies Act 2006. The financial statements have been prepared under the historical cost convention. The principal accounting policies are summarised below. The accounting poliaes have been applied consistently throughout the year and the preceding year. The financial statement5 are presented in sterling which is the functional currency ol the charity and rovnded to the nearest £. Golng concern The financial staternents have been prepared on a going concern ba515 as the trustees believe that no material uncertainties exist The trustees have considered the level ol funds held and the expected level of income and expenditure fr)r 12 month5 from auth0ri5ing these financial Statements. The budgeted income and expendire is sufficient with the level of reserves for the charity to be able to coniinue as a going concern. Income All income is recognised in the Statement of Financial Actiwities or)ce the charity has entitlernent to the funds, it is probable that the income will be received and the amount can be measured reliably. School fee5 are recogni5ed in the period to which they relate. Donation5 are induded in full in the statement of financial activities when received. Expenditure Liabilities are recognised as expenditure as soon as tt)ere is a legal or constructive obligation comrnitting the charity to that expenditure, it is probable that a transfer of economic benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted foron an accruals basis and has been classified under heading that aggregate 311 cost related to the category. Where costs cannot be directly attributed to particular headings they have been allcKated to attivities on a bas5 CQn515tent with the use of resources. Governance costs include those costs associated wrth meeting the constitutional and ststutory requirements of the charity and include auditors fèes and costs linked to thè strategic managèment of the Charity. Support costs are those lunctions that assist the work of the Chafity but do not directly undertake charitable activities. Support costs include back ofFice costs, financ< personnel, payroll and governance costs which supports the Charity'5 artivities. These costs have been allocated to charitable a(tivitie5. 16
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Allocatlon and apportionment of tfbsts All costs relate to the running of the school and the charitable company's only fund is the General Fund. All costs are therefore allocated to school running costs as detsiled in note 6. Investments Investments in assoaates are measured at cost less irnpairTnenl. Tangible fJx•d ass•ts Tangible fixed assets are stated at cost less depreciation. Depreciation is prowded at rates lCulated to write of the cost of fixed assets, over their expected useful lives on the lollowing bases: Freehold propety -2% on cost Improvement to property -10% oncost Fixtures and fittings -25% on c05t Motor vehicles -25% on cost Computer equipment -25% on c05t Taxatlon The charity is exempt from corporation tax on its charitable activities. Debttsrs and credltors recelvable / payable Debtor5 and creditors with no stated interest rate are recorded at transaction prite. Any losses arising from impairment are recognised in expenditure. The mortgage of £206,250 ir)cluded within Creditor5'. amounts falling due after more than one year has not been included at its fair value measured at the Present value ol all luture cash rettipts discounted using the prevailing market rate ol interest as required by the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The mortgage has been rried at cost. sn the opinion of the trustees, thi5 does not result in a material misstatement within these financial rtatements. Cash and (ash •qul¥al•nts Cash and cash equivalents repsent cash in hand and deposit5 held at call with bank& Fund Accounting Unlericted funds can be used in accordance with the charitable objectives at diKretion of the trustees. Restrirted fvnds can only be used for particular restricted Purposes wrthin the objettives of thè charity. Restrictions arise when specilied by the donor or when funds arè raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes of the financial statements. 17
THE GREEN ROOM FOUNDATION LTD NOTES TO THE AccouTr¥fs ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Op•ratlng l•as• commltm•nts Rental paKI under operating lease5 are charged to the Stalement of Financial Artivities on a straight line basis over the period of the lease. Retlremtnt benèflt pollcy The Charity contributes to a defined contribution scheme. Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Voluntews In accordance th the SORP. and ir recognition of the difficulties in placing a monetary vallte on the contribution frorn volunteers, the contribthion of volunleers is not included within the income of the charity. 2. Donatlons and Legades 2023 2022 Donations Gift Aid 7,172 6,735 7,172 6,735 3. Income from charitable activities 2023 2022 School fees 2.993.866 2,702,064 4. Other income 2023 2022 Fundralsing events 12,035 5.962 5. Investment Income 2023 2022 Deposft account Interest 18
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE Y&4R ENDED 31 AUGUST 2023 6.School rnnnlng costs 2023 2022 Green Room materlals Tutors and Class leaders School meals Green Room trips & artwities Social security Pension c05t5 61.050 1.046,339 24,023 27.310 107,966 114.543 1,381.231 70,123 877,262 20,471 22,396 86,265 81,432 1,157.949 Support costs Inote 71 1,029,420 878,762 Total School running Costs 2,410,651 2,036,711 7. Support Costs 2023 2022 Rent Ratès and water Insurance Light and heat Telepkjne Printing, postage and stationery Prernises expenses Software, training & resources Consultancv Travel Accountancy and bookkeeping Motor expen5e5 Staff & student welfare Donations Administration salaries Administration expenses Vehicle leasing Depreciation IProfitl/loss on disposal of assets Bank Charges 72,851 13,626 14,318 20.610 6,084 16,690 39,194 20.566 14,210 6,724 22,629 21,420 21,130 4,047 592,681 64,378 69,560 5,315 14,388 14,716 6,721 8,709 31,408 6,237 3,5C(I 6.094 11,896 11,349 9.569 92,385 462,073 45,946 469 73.460 4,185 782 78,104 1.029.420 878.762 19
THE GREEN ROOM FOUNDATION LTO NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 8. Net IOme/ (expendituiel Nèt incomellexpendlturel is slated after charging/lueditingl.. 2023 2022 Depreciation Other operatlng leases Auditors remuneration ISurplusl/ileflclt on disposal of flxed assets 78,104 73.460 469 2.71Y) 4.185 9. Staff NumbeTS The average monthly number of employees durfng the year was= 2023 No 2022 No Teachers 30 29 Adminlstratlon 17 13 Totsl 47 42 10. Staff Costs 2023 2022 Wa8e5 and salaries Social *curity costs Pensions 1,483,778 151,775 166,653 1,236,641 126,540 121,765 1,802,206 1.484,946 The number of employees whose employment beneflt (excluding employer pension costs) exceeded £60,000 wa5.. 2023 2022 £60,001-£70,000 £70,001.£80,000 £80,001-£90,WO £90.001-£100,000 There were no trustees, remunerath)n or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. Trustees, expenses paid for the year ended 31 August 2023 amounted to £34312022.. nill. Key management Pe150nnel received aggregate remuneratSon of £350,32712022.. £287,9051- 20
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 11. Tangible fixed assets Improvements lo Property Fixtures & Fittin85 Freehold Property At I September 2022 Additions Di5P05al 553,265 440,981 56,852 4.542 At 31 August 2023 553,265 440,981 61,394 Depreciation At I September 2022 Charge for the year Eliminated on disposal 24,260 6,065 121,893 42,765 41.136 6.992 At 31 August 2023 30,325 164,658 48.128 Net book value At 31 August 2023 522,940 276,323 13,266 At 31 August 2022 529,005 319,088 15.716 Motor vehicles Computer equipment Tot•1 Cost At I September 2022 Additions Disposals 55.504 1.500 80.952 14.721 1.187.554 20,763 At 31 August 2023 57,004 95.673 1208,317 Depreciatlon At I September 2022 Charge for the year Eliminated on disposal 23.451 10564 61.192 12,682 271,932 78,104 At 31 August 2023 34,015 73,874 350,036 Net bookvalue At 31 August 2023 22,989 21,799 858.281 At 31 Au8USt 2022 32,053 19,760 915,622 21
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 12. HJ(ed asset Investments Share5 ill a550ciate Market value At I September 2022 Additions Disposals 125.000 At 31 August 2023 125,000 book value At 31 August 2023 125,000 At 31 August 2022 125,000 Assoclate Name Holding5 25% Swan Clewer CIC 2023 2022 Aggregate capital and reserves Profit / IL0s51 for the year 539,511 511,691 27,121 21,224 In Collaboratioh with the community. Thè Windsor and Eton Brewery, the charity owns 25% The Swan in aewer Willage. Windsor. The Swan is used to provide a unique setting for sixth form pupils to continue their education, gain useful ski115 and become part of their corDmunity. 13. Debto 2023 2022 Trade debtors Other debtors and prepayments 1.045.424 40,498 163,254 10,882 1,085,922 174,136 At the balance sheet date, interest free staff loanstotalling£Nil12022'. £2.5751 remained outstanding. 22
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS {CONTINUEO) FOR THE YEAR ENDED 31 AUGUST 2023 14. Credftors-Amounts Falllng Due Within One Year 2023 2022 Other loans Trade creditor5 Social security and other taxes Other creditors Fees received in advance Accrued expenses 45,0 23,499 37,046 45,000 8,535 32,720 2,500 590,055 5,050 1,110,514 S,S¢X) 1,221,559 683,860 15. Creditors- Amounts Falling Due After More Than One Year 2023 2022 Total mortgage INote 161 206,250 206.250 251,250 251,250 16. Loans 2023 2022 Amounts fallings dLte within one year.. Mort838e 45,OC 45,000 Amounts falling ¢Jue between one and two years: Mortgage 45,000 45,000 Amounts falling duè between two and five years.. Mortgage 135.OC(J 135,000 Amounts falling due in more than fNe years.. Mortgage 26,250 71,250 The mort6age is paYable by monthly instalments of £3,750. interest free, and is secured on the freehold property. 23
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 17. Analysi5 of Nel Assets between Funds Curr•nl yr 2023 Total Assets Fixed Restricted Funds Unrestiicted Funds 70,000 913,281 70,000 2,689,228 1,775,947 983,281 1,775,947 2,759,228 Prevlous year 2022 Total Flx•d Nèt Assets Restricted Fund5 Unrestricted Funds 86,250 954,372 86.250 2,070,553 1.116.181 1.040,622 1,116,181 2,1 S6.803 18. Movements on Funds Prevlousyear Balance 01.09.21 lance 31.08.22 Income Expendlture Galn5/los5es Unrestrirted fvnds General funds 1.376,251 1,376,251 2,714.763 12,020,4611 12,020,461) 2,070,553 2.070.553 2,714,763 Current year Balance 01.09.22 Balance 31.08.23 Income Expenditure Gainsl1055e5 Vffe5trirted funds General funds 2,070,553 2,070,553 3,013.076 3.013.076 12,394,401> 12.394.401) 2,689,228 2,689,228 24
THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUEO) FOR THE YEAR ENDEO 31 AUGUST 20ZZ 19. Movement5 on Restricted Funds Previous year Balance 01.09.21 Balance 31.08.22 Income Expendlture Transfers Reslrlrted fvnds Fixed asset fund 102.500 102,500 116,2501 116,2501 86,250 86,250 Current year Balan 01.09.22 Balance 31.08.Z3 Income Expendlture Transfers Re5trlrt•d fund5 Fixed asset fund 86,250 116,2501 86,250 116,2501 The Fixed asset fund relates to new tomputer equipment and major works at The Swan. 70.000 70.000 ZO. Related party transartiOn5 Durin8 the year The Green Room Foundation paid costs to further develop the fa¢illties at the Swan Clewer CIC totallin8 £10.47412022.. £87,221]. The Swan Clewer CIC Is a company in which The Green Room Foundation own5 25% of the share capltal. The Swan is used to provide a unique setting for sixth form pupils to continue their education. gain useful skills and become part of their community. Transactions with key management rSOnnel and trustees have been disclosed within note 10 of these financial statements. 21. RKon¢illatlon of net Income to nei cash flow from operatSng actlvltles 2023 2022 Net income for the year las per the Statement of Financial Artivitiesl Add back depreciation d)arge (Gainsllloss on investments (Profivloss on disposal of fixed asset) Interest recelved Decrea5elllncrea5el in debtgrs Increaselldecreasel in creditors Net cash used in operating activities 602,425 678,052 78,104 73,460 4.185 121 186,451 260.778 1,202,924 {31 1911,7861 537,699 306,439 zs