## **THE GREEN ROOM FOUNDATION LTD** ## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE VEAR ENDED 31 AUGUST 2024** **Charity Number 1149294** **Company Number 07916254** THE GREEN ROOM FOUNDATION LTD INDEX Page Tru5tees' Report 3-8 Audltor's Report 9-12 Statement of Financial Activities 13 Balance Sheet 14 Ststement of Cash Flows 15 Notes to the Accounts 16-25 THE GREEN ROOM FOUNDATION LTD TNstee< Report Forthe year ended 31 August 2024 The Trustees who are also directors of the charity lor the purposes of the Companles Act 2￿6, present their annual report and the flnancial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provlsions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnancial Reportlng Standard appllcable In the UK and Republic of Irdand IFRS 1021 (effective l January 20191. OWECtIVES ANDAcnvfTIES Overall ObJectlve5 and Alms: To provide audaciou5 and unmissable education for our pupils. - To be the number one independent school in the borough for young people that are no longer succeedSng In maSnstream educatlon. To re-ignite a passion for education in all of our 5tudent5. - To meet all of the students, therapeutic needs. - To provide consistent support and life changing opportunitles for every single student. - To determine how to share our expertise through the wider education community. Obledl¥e$ forlhe Year: - To improve and extend the facilities for all our sixth fomi pupi15 atThe Swan, including the provision of garden and therapeutic space. - To Improve the bushcraft area for our KSngsley based puplls. To continue to innovate our curriculum to deliver targeted best practise pedagogy to all pupils. To continue to develop vocational and work experience opportunities for all pupils especially in conjunction with the community at The Swan uslng Innov*Sve buslness Idea5 for pupils in a real life context. - To maintain OFSTED"OutstandinE" Standards in all areas of all wr provisions. - To secure and utlllse addltional fa¢Slltles to ensure the security and effertlvene55 Qt our school sites. . To achieve the above regardless of any impart of pandemiclepidemic eg COVID-19. Bird Flu etc. SignifKant activities We provide Academic and Therapeutic development for younB people aged from 11-25 who are no longer accessing mainstream educatlon. We aim to help the students achieve English, Maths and Sclence GCSES, Etltry Level Certlflcates and UnSt Awards, and The Arts Award amongst other 4ualifScations. Additionally we provide acce￿ to therapeutic support to keep pupils engaged in their own education and enable them to move on svccessftjlly from The Green Room at the appropriate time. At our farm school we complement academic activities with farm-based learning via BTEC Land Based Studies and Constrijctiort quallficatlons. as wèll as Lantra Trartor Drlvlng qualifications. Public benefit Thè Green Room Schools are now established and trusted non maintained independent schools within councils in and around Berkshire, Surrey, Hampshire and Buckinghamshire. THE GREEN ROOM FOUNDAnoN ITD Trustees. Report Icontlnued...) FLY the year ended 31 August 2024 The sense of achievement seen in our pupils Is even greater when we take Inio account our results were reallsed against a backgrouThJ of neuro-dlversity, selectlve mutlsm. eatlng dlsorders, dlfflcult home sltuation and the damaging effects of both mental and physical bullying that these students often experienced In mainstream schoollng. We support both our young people and their parents to minimise the long term effects of not going to school. The Trustees confirm that they have complied wlth thelr duty to have due regar(J to the publ1¢ benefit guidance published by the Charity Commission. Volunteers We are very open to re¢elving help from approprSately quallfied volunteer5, and have benefftted from this particularly at The Green Room Kingsley and The Green Room College. We have utilise(J many volunteers from our communltie5 as part of The Swan Elders programme at The Green Room College. Havlng given their time and expertise to The Swan there are many who are interested in helplng our young people with gaining new skllls and experiences. ACHIEVEMENTS AND PERFORMANCE stsff Wellbeing: Our organlsation Is it's stsff. and consequently the Trustees and management tske particular care to ensure the well.being and happlness of our staff. Our success In this area is reflected in our very low staff tumover and very plea5inB results to regular 5tsff surveys. Fundra151ng AcllvltSes: Fundraising ha5 been led by a 51gnlflcant donatlon of time, materfals, expertise and hard work at Thè Swan. In addition WÈ are in receipt of regular donations fmm alumnus and their families, as well as fundraising by family members of the staff. We have also been in receipt of larBer donation5 eg from Community Interest Funds and VirBin and plan to do more to leverage grant maklng organisations In the future. OFSTED: We We￿ judged OFSTEO"OutstandIn￿ In all areas ot all our provlsions agaln: GRWIGRC In June 2023 and GRK in October 2023. an School fees have increased to E3,470,07212023.. £2,993.8661 as a result in the In(tease ift the number of pupS15. Our school running costs have increased to £2.793.81612023.. E2.410.6511. Thls Is mainly due to an increase in our staffing costs which was deemed necessary given the increase in pupil numbers and to enhance the delivery of the educational servlces and support provlded bythe Charity. Our unrestrirted fund balance, as of 31st AuEUSt 2024, of £3.427.01312023.. £2,689,228) enables us to remain robust and continue to meet its aims and objectives, providing vital services for young people aged from 11-25 needing academic and ther3peutic developmenL Total funds as at 31 August 2024 were £3,487.01312023.. £2,759,228) an(1 Snclude restrlrted buildlng fvnds of £60,000 12023.. £70.0001. THE GREEN ROOM FOUNDATION LTD Trustees, Report IContinued.-} For the year ended 31 AuBust 1024 Re5erve5 Policy: Our policy takes into account the cyclical nature of our income. We now aim to have reserves equivalent to between four and eight months runnlng costs. We are achlevlng thls. We have retained fund5 for property purchase in order to avold borrowing funds unnecessarily in the future,. and have purchased 104 Maldenhead Road in September 2023 for College and Foundation actlvities. and latterly 4 Albert Street in October 2024 to allow for expansion and 5ecurlty of the Windsor site. Fees Re¢elved In A(fvan¢e: We bill our school fees in advance and work diligent￿ to agree term5, source purthase orders and chase for payment. Some councils are facing financial dlfficultles andlor stafflnB Issues in thls regard, however It remaln5 a hSgh prlorlty key objertive for the Finance Team. Futur• Plans: Having purchased 104 Maldenhead Road - the site dirertly adjacent to The Swan where The Green Room College is located, we have recewed planning permission for change of use in order to create garden for pupils to make use of and reflect in, and for the placement of a Shepherd's Hut for therapy at the slte. We have been successful in 5ecurin8 Community Infrastructure Levy funds from East HampshSre Councll in addition to other funds to allow us to purchase a new garden bLtllding which wlll house MeetIn￿classrOOM space and soundproofed musicltherapy space at our Kingsley site. We work with particular focus on our puplls, "Futures" includlng work experience opportunities at our own events at The Swan and at other businesses in Wind50r and the Kingsley area,. in addition lo opportunities to undertake traininB 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 done by executives and senlor managers to help other Sch￿15 and we plan to extend thls. We have purchased 4 Albert Street, the site we have rented sSnce our Inception. to secure the premlses for our Green Room Windsor school. This will mean we own the two main classrooms, our parking area, our bin storage and the 3 bedroom house on the site, which, wblect to planning permission would likely be used as ¢lassroomltherapy and/or office space. The site is adIa￿nt to 4A Albert Street which we currently own Imortgagedl. UHY Ross Brooke prepare our Annual Accounts, and act as Auditork PrI￿1paI FundiThd Sources: The source of our funds was the councils In and around Berkshire, principally Royal Borough of Windsor and Maidenhead IAchieving for Children CICI, Surrey County Councll, Hampshire County Council and Buckinghamshire County Councll. These funds cover the day-to-day running costs ot the school and ensure all students are well looked after when they ère on our premises. TrIE GREEN ROOM FOUNDATION LTD Truste￿ Repokt ICMtSnued...I For thè year ended 31 August 2024 Ownershlp: In collaboration with the community and The Wlndsor and Eton Brewery we own The Swan in Clewer Village. Windsor. We now own 4 and 4A Albert street- the base for The Green Room School, Windsor. We own a modular building in our KinBsley site, and will own the garden rooms by February 2025. We own 104 Maidenhead Road, a site adjacent to The Swan. Strurture Governance and Mana ment The Governi1¥ Document: The charity is controlled by its BoverninB document and constitutes a limited company, limlted bv guarantee. as deflned bythe Companles Act 2006. Recrultment. Appointsnent, Indurt•on and Trainin8 of New Trustees: Pr￿pectIVe new trustees are normally proposed by members of The Green Room School management team or by the incumbent trustees. Those proposed are invited to a trustee meeting nd an advisory board meetlng as an observer to ensure that they properly understand the workSngs of the company and the board. If they stlll wlsh to be a trustee. a formal election wlll take place at a designated trustee meeting. Trustees meet every school temi la minimum of 3 times per year). New trustees, with appropriate skills, are 5elerted at a deslgnated trustees meettrng. They are then given an inductlon and are provlded wSth trainln& approprlale to their existlng sklll set. Or8ani$*ional Slrurture: Fergus Tlnto and Peter Rawlin& are the directors of The Green Room Foundation Ltd and the Trustees of The Green Room Foundation Charity. Ray Sawryer resigned in March 2024, Amada Gee and Rhona Micolli resigned Sn September 2024. We are looking to appoint additlonal Trustees. Rlchard Allen Is the CEO of The Green Room Foundation Ltd. He Is appointed by the Trustees. and is responsible for the day to day management of the Charity and the Schools. Danielle Haxby15 Dlrector of Edu¢atlon, Jane Nicholls is our School Business Director, and Lexie Sparks is our Operatlons Dirertof wSth particular responslbility for building projects. Callum Flanagan is our Head of School at Green Room Windsor, Becky Thomp50n is our Head of School at Green Room King51ey and Ashley Sheehan is our Head of School at Green Room College. Risk Management: The trustees have a duty to identtfy and review the risks to which the charity is exposed to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. We have responsibility to the Department for Education and hwe put processes In place to implement appropriate governance, pupil progress, OLrtcomes. behaviours and safeguarding. All staff are fegularly trained in safeguarding and child protection and we have adhered to the processes required to ensure we deal wlth all safeguardlng issues quickly and decisively. We have a responsibility to our customers Icouncilsl to ensure we put processes in place to deliver for our pupils via their Education Health Care Plan defined needs as well as the above educational standards. We have a responsSblllty to Envlronmental 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 ExecutSve to ensure appropriate rlsk assessments and processes are In place for all the pupils, locations and activities we undertake. We utilise a consultancy firm - Workne5t- to assist in ensurlnE compliance to the complex standard5 requlred. Staff are first aid trained to ensure we can offer emergency first aid in school and on trSps. THE GREEN ROOM FOUNDATION LTD Trustees, Report Icontlnued...) For the yearended 31 August 2024 Relerence and Administrative Detalls Registered company number.. 07916254 IEngland an(J Walesl Registered charity number- 1149294 Registered office= 4A Albert Street. Wlndsor SL4 5BU Trustee5: Fergus Tinto Christopher Peter Rawling Ray J Sawyer (Resigned 9 March 20241 Rhona Mlccoli (Resigned 24 September 20241 Amanda Gee IAppoSnted l February 20241 Audltor: UHY Ross Brooke Chartered Accountants and Registered Auditors SuSte I Windrush Court Abingdon 8usiness Park Abingdon Oxford5hlre OX14 ISY BankeTS.' Santander Bridle Road Bootle Merseyside L304GB THE GREEN ROOM FOUI4DATION LTD Trustees. Report Icontinued...) For the year ended 31 Augu512024 TRUSTEES, RESPONSIBIUTIES STATEMENT The Trustees (who are also directors of The G￿en Room Foundatlon Ltd for the purposes of company lawl are responsible for preparing the Tru5tees' report and the financial statements in accordan￿ with appllcable law and United Kingdom AccountSng Standards (United Kingdom Generally Accepted A¢¢ounting Practice). including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the Trustees to prepare flnancial statements tor each financial year. Under company law thè Twstees must not approve the financial statements unless they are Satisfied that they give a true and fair view of the stste of affairs of the charwtable company and of the incomin8 resources and application of resources, indudlng the income and expenditure, of the charltable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accountlng policies and then apply them consistently. obse￿@ the methods and principles in the Charities SORP,. make judgments and accounting estimates that are reasonable and prudent; prepare the financial statements on the golnE concem basis unless it Is Inappropriate to presume that the Charitable company will continue In operation. The Trustee5 are responsible for keeping adequate accountin8 records that are sufficlent to show nd explain the tharftable Company's transactSons and dlsclose wlth reasonable occuracy at pnv 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 ¢¢Jnpany and hence for taklng reasonable steps for the prevention and dete¢tlon of fraud and other irregu5arities. Statement a5 to disdosureto auditors So far as each perwn who was a trustee at the date approv(ng this report is aware, there 15 no relevant audSt Information of which the charitable companys auditor is unaware. Addttlonally, the trustees individually have tsken all the ne￿5$ary steps that they ought to have taken as trustees In orderto make themselves aware of all relevant audit information and to establish that the charitable companvs auditor Is aware of that informatlon. This report has been prepared in accordance with the special provisions of part 15 of the Companies Act 2CN)6 relating to small companies. Approved by order of the trustees on...... and signed on its behalf by: P Rawll THE GREEN ROOM FOUNDATION LTD INDEPENDENT AUDITO￿5 REPORTTO THE MEMBERS OF THE GREEN ROOM FOUNDATION LTD Opinian We have audited the finanaal statements of The Green Room Foundation Ithe'ChaTiVI for the year ended 31 August 2024 which comprise the statement of flnanclal activities. the balance sheet, ststement of cashflows and notes to the financial statements, includirbg significant attounting policies. The financial reportinB framework that has been applied in their preparation is appll¢able law and United Kingdom Accounting Standards, includlng Financial Reporting Standard 102 The Financial Rèporting Standard applicable In the UK and Republic of Ireland (United Kingdom Generally Accepted Accountlng Prarticel. In our opinion the finantial statements.. 8ive a true and fair view of the state of the charitable company's affairs as at 31 A￿uSt 2024 and of its incoming resources and application of resources, for the year then ended,. havè been properly prepared in accordance w5th Unlted Klngdom Generally Attepted Accounting Prartice,. and have been prepare(l in accordance wlth the requ5rements of the Companies Act 2CQ6. Basis for opinion We conducted our audlt In accordance wlth International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor5 respon5ibilitiesfor the oudit of theAinancit715totements section of our report. We are independent of the charity in accordance with the ethlcal requlrements that are relevant to our audit of the financial statements In the UK, including the FRCS Ethical Standard. and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We believe that thè audit evidence we have obtained is Sufficient and appropriate to provide a basls for our oplnion. Conclusions relating to going concern In auditing the financial 5t?tements, we have ronrluded that the directors, use of the going concern basis of accountlng in the preparation of the f￿nanCIal statements is appropriate. Based on the work we have performed, we have not identified any material uft¢ertalntles relating to events or conditions thal Individually or collectlvely. may cast slgnificant doubt on the charity'5 abilrty to continue as a going concern for a period of at least twelve months from when the flnanclal statements are authorised for issue. Our responsibilities and the responsibilities of the directors wlth respect to goln8 Concern are described in the relevant sertions of this report. Other Informallon The other Inform*ion comprises the information included in the annual report otherthan the flnancial statements and our auditor's report thereon. The trustees are responsible forthe 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 responsibility is to read the other Information and, In dolng so. consSder whether the other infomiation is materially Inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othe￿iSe appears to be materially rnisstated. If we identify such materlal Inconsistencles or app8￿nt materlal mlsstatements, we are requlred to determlne whether this d￿VeS rise to a materlal mlsstatement In the financial statements themselves. If, based on the work THE GREEN ROOM FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GREEN ROOM FOUNDATION ITD we have performed, ￿ conclude that there is a material misstatement of this other infomiation. we are requlred to report that fart. We have nothing to report in thts regard. Opinions on other matters wescribed bythe Companles Aft 2006 In our opinion. based on the work undertakèn in the course of the audit.. the infom)atlon glven in the trustees, report for the financial year for which the financial statements are prepared. which includes the direttors, report prepared for the purposes of company law. is consistent WTth the financial 5tatements- and the 5tTate8ir report and the directors, report have been prepared In accordance with applicable legal requirements. the dirertors. report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required io report by exeeption In the light of the knowledge and understanding of the Charity and its environment obtalned In the course of the audlt, we have not Identffied materlal misstatements in the directors, report included within the tru5tees' report. We have nothing to report in ￿SpeCt of the tollowing matters in ￿latiOn to which the Companies Att 2006 requi￿$ us to report to you if. in our opinion.. the information given In the flnanclal ststements is Inconslstent In any material respect with the trustees. report- or sufficient accountinE records have not been kept; or the financial statements are Mt In agreement wllh the accountlng records and returns,. or certaln dls¢k)sures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we required for our audiL Respon51bllllles of trustees As explained more fully in the statement of trustees, responsibllities, the trustees. who are also the directors of the Charlty for the purpo* ￿ company law, are responsible for the preparation of the rinancial statements and for being satisfied that they glve a true and fair view, and for such internal control as the trustees determine is nece55ary to enable the preparation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparing the financial statements, the trustees are resFonsSble for a55essing the Charity's ability to continue a5 a going conceTn. disclosin& as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees elther intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditor's respon$ibllltles for the audlt of the financial statements We have been appointed as auditor the CompaT)ies Acl 2006 and rep)rt in *cordance with the Act and relevant re8ulatlons made or having effert thereunder. Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance Is a high level of assurance but is not a Buarantee that an audit condurted irt accordance with ISAS IUKI will always detect a materia misstatement when it exists, Mi55tstements can arise from fraud or error and are considered io THE GREEN ROOM FOUNDATION LTD INDEPENDENT AVDITOR'S REPORT TO THE MEMBERS OF THE GREEN ROOM FOUNDATION LTD material if, individually or in the a88￿gate, they could reasonably be expected to influence the economit decision5 of users taken on the basis of these financial statement& As part of an audit in accordance with ISAS IVKI. we Èxercise professional judgment and maintain professional scepticism throughout the audit. We also-. Identlfy and assess the risk5 of material misstatement of the f¢nanclal ststements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidente that Is suffitient and appropriate to provrde a basis for our opinion. The risk of not detecting a materlal MI￿tateMent resulting from fraud is higher than for one re5ultin8 from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the overrlde of Intemal control. Obtaln an uThJerstanding of internal control relevant to the audit in or(ler to design audit prO￿dureS that are appropriate in the Circumsta￿*$, twJt not for the purpose of expressing an opinion on the effeaiveness of the tharitsble companvs internal control. Evaluate the appropriateness of accountinB policie5 used and the reasonableness of accounting estimates and related dlscbsures made by the trustees. Conclude on the appropriateness of the trustees, use of the going Concèrn basis of accounting and, based on the audit evidence obtsined, whether a material uncertalnty exists related to events or conditions that may cast significant doubt on the charitable companW5 abllity to continue as a going concern. If we conclude that a material uncertalnty èxists, we are required to draw attention in our auditorfs report to the related dl%1osu￿5 in the financial statements or, rf such dlsclosures are Inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charitable company to cease to ¢ontinue as a going concem. Evaluate the overall presentation, structure and content of the financial statements, IA¢ludSng the disclosures. and whether the financial statements represent the underlying transactions and events In a manner that achleves falr presentation. We Communlcate with those charged with Eovernance regardinB, among other matters, the planned scope and timing of the audit and slÈnbficant audit flndings. including any significant deficiencies in internal control that we identify during our audit. In addltion, as wlth any audit, there remained a higher risk of r￿n-deteCtION of fraud, as these may Involve collusion. forgery, intentional omlssions, misrepresentations. or the override of internal controls. Our audit procedures are designed to detect material misststement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non- compliance with all laws and regulations. A further description of our responsibilities Is avallable on the Financial Reporting Council's webslte at.. https.'/lwww.frc.or8.uk/auditorsresponslbilitie5. Thls descriptlon fomis part of our auditor's report li THE GREEN ROOM FOUNDATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GREEN ROOM FOUNDATION LTD Use of OUT report Thls report is made solety to the charity's members, a5 a body. In accordance with Chapter 3 of Part 16 of the Companies Acl 2006. Our audit work has been undertaken so that we might state to the charity'5 members those matters we are required to state to them in an audltor's rÈpert and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charity and the charlry's members as a boo*, for our audit work, for thls report. or for the opinion5 we have fom)ed. Caroline Webster FCA Isenior Stat￿ory Audltor) For and on behall of UHY Ross Brooke, Statutory Audltor Suitè I Windrush Court Abingdon Business Park Abingdon Oxfordshire OX14 ISY Dete: 2310312025 12 THE GREEN ROOM FOUNDATION ITD STATEMENT OF FINANCIAL A￿1VITIEs (INCLUDING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 AUGUST 2024 Uwe5trlttèd Funds 2024 Rèstrfcted Fund5 2024 Totsl Funds 2024 Total Funds 2023 Note5 Inroming Resourt*s Iron¥ Donations and legacies Charitablè actlvltEes School fees 8.933 14.466 23,399 7,172 3.470.072 3.470,072 2,993,866 Other Income Investment Income 12,102 16,028 12,102 16.028 12,035 Tt>tsl Income 3,507,135 14,466 3,521,601 3.013.076 ResLTrur**Fixed Assets**
Tangible assets
11
Investments
12
**Current Assets**
Debtors
13
Cash at bank
**Creditors**
Amounts due within one year
14
**Net Current Assets**
**Total Assets less current**
**liabilities**
**Creditors**
Amounts falling due afer more
15
than one year
**Total Net Assets**
**The Funds of the Charity**
Restricted income funds
19
Unrestricted income funds
**18**
**Total Funds**|**2024**
£
1,500,346
131,000
1,631,346
489,576
2,857,888
3,347,464
(1,330,547)
2,016,917
3,648,263
(161,250)
3,487,013
60,000
3,427,013
3,487,013|**2023**
£
858,281
125,000
983,281
1,085,922
2,117,834| |---|---|---| |||3,203,756
(1,221,559)| |||1,982,197| |||2,965,478
(206,250)| |||2,759,228
70,000
2,689,228
2,759,228| These accounts 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 and signed on behalf of the _i1/�/'-!:.f._ Board of Trustees by _C.( .. f.�.�_ P Raw�e Company Number 07916254 14 THE GREEN ROOM FOUNDATION LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 Note5 2024 2023 Cash used In operating actlvifies 22 I,SC￿l,998 306,439 sh flows from Investlng actlvltles Interest received Proceeds from the sale of fixed assets Purchase of fixed assets Pr¢xeed5 from the sale of investments Purchase of investments 16,028 1725.9721 120,7631 16,OC¥)I 1715.9441 Cash provided by investing activities I20.7f￿) Cash flows from financing activities New loans In the year Loan repayments Sn the year Capital repayments in the year 45.0￿> 145.0001 145,Crf)01 145.oc()I Increase I (Decrease) in cash and cash equivalents in the year 740,054 240,679 Cash and cash eouivalents at the beginning of the year 2,117.834 1,877,155 Total cash and cash equivalents at the end of the year 2,857,888 2,117,834 15 THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 1. Accounting Policies The Green Room Foundation is a charitsble cornpany limited by guarantee and has no Share capitsl. In the event of the charity being wound up. thè liability of the guarantee is limited to £10 per member of the charity. The charity is registered in England and Wales. The registered Dffice is 4A Albert SireeL Windsor, SL4 5BU. Basi5 of preparing the financijl st•tements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 2021'Accounting and Reporting by Charities: Statement of Recomrnended practice applicable to charities preparing their accout)ts in accordance vvith the Financial Reporting Stsndard applsoble in the UK and Republic ol Ireland IFRS 1021 lelfective 1 January 20191., Financi31 Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements hève been prepared under the historical cost convention. The principal accounting poliae5 are summarised below. The accounting policies have been applièd con515tently throughout the year and the preceding year. The financial staternents are presented in sterting which is the functional currency of the thar¢ty and rounded to the nearest £. Golng concern The financlal statement5 have been prepared on a going concem basis as the trustees believe that no material uncertainties exist The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statement& The budgeted income and expenditure is sufficient with the level of reserve5 lor the charity to be able to ontinue as a going concern. Income All income is recognised in the Statement of Financial Artivitiès once the charity has trntitlement to the fund% it is probable that the income will be received and the amount can be rnea5ured reliably. Sthool fees are recognised in the perio(J to which they relate. Donations are induded in full in the statement of financial activities when received. Ex￿ndhUrn Liabilities are recognised as expenditure as soon as there is a legal or constTUCtive obligation committing 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_ Expendi￿re is accounted foron an accruals basis and ha5 been classilied under heading that aggre9ate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to artivities on a basis consistent with the use of resources. Governance costs indude those costs associated wth meeting the constitutional and sta￿tOry requirement5 of the charty and include auditors lee5 and Costs linked to the strategic management of the charity. Support costs are those fvnctions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back office cost% finance, personnel, payroll and govemance costs which supports the Charity's activities. These costs have been allocated to chaTltable artivities. 16 THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS {coKfiNUED) FOR THE YEAR ENDED 31 AUGUST 2024 Alloution and apportionment of rosts 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 io school running costs a5 detailed in note 6. Investments Investments In èssociates are ￿35yre￿ at cost less impairment. Tanglblè fixed a￿ts Tangible fixed assets are stated at cost les5 depreciation. Depreciation Is provided at Tates calculated to write of the c05t of fixed a55ets, over their expected useful lives on the following base5.' Freehold property -2% on cost Improvement to propety -10% on cost Fixtures and fittings -25% on cost Motor vehlcles -25% on cost Computer equipment -25% on cost T•xatlon The charity is exempt from Corporation tax on its charltable activities. Debtors and credltors retelvable / payable Debtors and CTeditor5 With no ststed interest rate are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. The mortgage of £161,250 included w¢thin credito￿ amounts falling due after more than one year has not been included at its fair value measured at the present value of all future cash receipts discounted using the prevailing market rate of interest as required by the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The mortgage has been carried at cost. In the opinion of the trustees, this does not result in a material misstatement within these financial statements. Cosh and cash equlvalènts Cash and cash equivalents represent Cash in hand and deposits held at Call with banks. Fund k¢oynting Unrestrirted funds can be used in actordance wih the charitablè objèrtives at discretion ol the trustees. Restricted funds can onfy be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes ol the financial statements. 17 THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Opernling leasé commltments Rental paid under operating leases are charged to the Ststement of Finanoal Artivities on a straight line basis over the period of the lease. Relirement benefit poll¢y The Charity contributes to a defined contribution scheme. Payments to defined contritAJtion retirement benefit schemes are ¢harged as an expense as they fall due. Voluntee In accordance with thè SORP, and in recognition of the difficulties in placing a monetsry value on the contribution from volunteers, the contribution of volunteers is not included within the income of the charity. 2. Don*lons and Legacles 2024 2023 Donations Grants 8.933 14,466 7.172 23,399 7,172 3. Income from charitsble adlvltles 2023 School fees 3,470,072 2,993,866 4. Other Income 2024 2023 Fundraising events 12.102 12,035 5. Investment incorne 2024 2023 Deposit account Interest 16,028 18 THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 6.School Nnnlng costs 2024 2023 Green Room materlals Tutors and class leaders School meals Green Room trips & activities Social securlty Pension costs 68,148 1,233,134 19,354 31,706 123.683 148,033 1,624,058 61,050 1,046,339 24,023 27,310 107,966 114,543 1,381,231 Support costs Intste 71 1,169,758 1,029,420 Total school running costs 2,793.816 2,410.651 7. Support Costs 2024 2023 Rent Rates and water Insurance Li8ht and heat Telephone Printin& postage and stationery Premises expenses Software, training & resources Consultancy Travel Accountancy and bookkeeping Motor expenses Staff & student welfare Donatlons Administration salaries Admlnlstratlon expenses Depreciation Bank Char8es 83,110 7.350 18,465 18.599 7,531 11,476 25,952 72.162 42,027 13,7CiI 12.495 12,354 35.994 9.555 627,969 87,003 83,907 109 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 78,104 158 1,169,758 1,029,420 19 THE GREEN ROOM FOVNDATION LTD NOTE5 TO THE ACCOUNTS (CONTINLIEDI FOR THE YEAR ENDED 31 AUGUST 2024 8. Net Infomel (expenditure Net incomellexpenditurel ts stated after ¢hargingllcreditingl'. 2024 2023 Depreciation Auditors remuneration 83,907 4,000 78,104 3,C(10 9. stsff Numbers The average monthly number of employees during the year was- 2024 No 2023 No Teacher5 34 30 Administration 19 17 Total 53 47 10. Staff Costs 2024 2023 Wages and salaries Social security costs Pension5 1,753,191 173.120 206,508 1,483,778 151,775 166,653 2.132,819 1,802,206 The number of employees whose employment benefit lexcludinB ernployer pension c05ts1 exceeded £60,C4)O was: 2024 2023 £60,001-£70.000 £70,001-£&),000 £80,o01-£￿.000 £s￿,Col-£Ic0,ooo There were no trustees. remuneration or other bÈnefrts for the year ended 31 August 2024 nor for the year ended 31 August 2023. Trustees, expenses paid for the year ended 31 August 2024 èmounted to £292 12023: £3431. Key management Personnel receNed a8sre8ate remuneration of £369.S1312023- £350,327). THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 11. Tan8ttble flxed assets Improvements to Praperty Flxlures & Flttlng5 Freehold Property Cost At I September 2023 Additions Disposal 553.265 702,724 440,981 9,411 61.394 2,170 At 31 August 2024 1,255,989 450,392 63,564 Depreclation At I September 2023 Charge for the year Eliminated on disposal 30,325 13,093 164,658 42,765 48,128 7.389 At 31 August 2024 43,418 207.423 55,517 Net book value At 31 August 2024 1.212,571 242,969 8.047 At 31 AuEUSt 2023 522.940 276,323 13,266 Motor vehicle5 Computer equipment Total Cost At I September 2023 Additions Dlsposals 57.004 6.620 95,673 5.047 1.208,317 725.972 At 31 August 2024 63,624 100,720 1,934,289 Depreciation At I September 2023 Charge for the year Ellmlnated on dlsposal 34,015 11,867 72,910 8.793 350,036 83.907 At 31 August 2024 45,882 81,703 433,943 Net book value At 31 August 2024 17,742 19,017 1,5(K).346 At 31 August 2023 22.989 21.799 858.281 Included within the net book value of freehold property is £601,362 (2023 . £250,0￿) In respect of freehold land. 21 THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED YI AUGUST 2024 12. Fixed asset investments Shares in assoclate Market value At I September 2023 AdditlOn5 Disposals 125,000 6,000 At 31 August 2024 131,OC Net b¢)ok value At 31 August 2024 131,000 At 31 August 2023 125,CK)O Associate Name H¢ldln85 25% Swan Clewer CIC 2024 2023 Aggregate capital and resetves Profit I (Lossl for the year 525,236 14,6431 539,511 21.224 In collaboratlon wlth the community. The Windsor and Eton Brewery, the charity owns 25% The Swan in Clewer Village, Windsor. 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 cornmunity. 13. Debtors 2024 2023 Trade debtors Other debtors and prepayments 450.089 39,487 489,576 1,045,424 40,498 1.085.922 2Z THE GREEN ROOM FOUNDATION LTD NOTES TO THE ACCOUNTS {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2024 14. Credltovs-Amounts Falllng Due Wlihln One Year 2024 2023 Other loans Trade creditors Soc5al security and other toxes Other creditors Fees received in advance Accrued expenses 45,000 13,832 131 45,000 23,499 37.046 1,263,584 8,000 1,110,514 5,500 1,330.547 1.221.559 15. Ihditors-Amoynls F•lling Dy¢ Aft•r Mor• Th•n One Y¢•r 2024 2023 Total rnortgage (Note 161 161.250 206,250 161,250 206,250 16. Loans 2024 2023 Amounts fallings due within one year.. Mortgage 45.IKJO 45,(KKI Amounts falling due between one and two year5: Mortgage 45,000 45,C( Amounts falling due between two and five years.. Mortgage 116.250 135.lYJO Amounts fallin8 due in more than five years.. Mort8a8e 26,250 The mortgage is repayable by monthly instalments of E3.750. 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 2024 17. Analy515 of Net Assets between Funds Curr•nt year 2024 Total Flxed Net Assets Restricted Fvnd5 Unrestricted Funds 60.CKJO 1,571,346 60,th)0 1,855,667 1,631,346 1,855,667 3,487,013 previo￿ year 2023 Totsl Assets Fixed Net A55ets Restricted Funds Unrestricted Funds 70,IKJO 913.281 70.1K)O 2,689,228 1.775.947 983,281 1,775,947 2,759.228 18. Movements on Fund5 Previous year Balance OJ.09.22 Balance 31.08.23 Income ExpendI￿le Galnsllosses Unrestrlrted funds Genèral 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 Current year Balance 01.09.23 Bala￿e 31.08.24 Income Expenditure Gainsllosses Unrestricted funds General funds 2,689,228 2,689,228 3,507,135 3,507,135 12.769.350) 12,769,350 3,427.013 3,427,013 24 THE GREEN ROOM FOUNDATION LTD IIOTES TO THE ACCOUNTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 19. Movements on Restricted Funds Pr¢¥lou$ year Balance 01.09.22 Balance 31.08.23 Income Expenditure Translers Restrirted fund5 Fixed asset fund 86,250 86,250 116.2501 116.2501 70,OLX) 70.oc Cwrnnt year Balanc• 01.09.23 Balance 31.08.24 Income Expenditure Transfers Restrlrted funds Fixed asset fund 70,C(XJ 14,466 124,4661 70,000 14,466 124,4661 The Fixed asset fuNJ ￿lateS to new computer equipment and major works at The Swan. 60.CK 60,0(0 211 Related party transaclion5 DurinE the year Thè Greet) Room Foundation paid costs to further develop the facilitie5 at the Swan Clewer CIC totalllng £9,00012023.. £10,474). The Swan Clewer CIC FS a company in which The Grèen Room Foundation owns 25% of the share capital. The Swanls used to provSde a unique setting for sixth fomi pupSls to continue their education. gain useful skills and become part of their comrnunlty. Transactions with key m3nagement personnel and trustees have been disclosed within note 10 of these financial statements. 21. Subsewent Events On 22. October 2024 the charity purchased 4 Albert Stree¢ Windsor, SL4 SBU for £1,128,102. 21 Recondllatlon of net Income to net cash flow from operating adivitie5 2024 2023 Net income for the year las per the Statement of Flnancial Artivitiesl Add back depreciation charge IGainsllloss on investments (Profivloss on disposal of fixed asset) Interest received Decreaselllncrea5el in debtor5 Increaselldecreasel in creditor5 Net cash used In operating artlvities 727,785 602,425 83,907 78,104 116,0281 596.346 108,988 1,500,998 131 1911,7861 537.699 306,439 25