ANNUAL REP, & FINANCIA STATEMENTS Rt 2020- 2021 THE PRINCESS PROJECT Registered Charity Number 115502
The Princess Projert Annual Report and Financial Ststements for the year ended 31" March 2021 CONTENTS Pagelsl Report of the Trustees 2-17 Independent Examiner5 Report 18 Statement of Financial Activities 19 Balance Sheet 20 Statement of Cash Flows 21 Notesto the accounts 22-33 Page I
The Princess Projert Annual Report and Financial Statements for the year ended 31" March 2021 TRUSTEES ANNUAL REPORT The trustees present their trustees annual report together WTth the financial statements of the charkty for the year ended 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charitvs governing document, the Charities Att 2011 an(1 the Statement of Recommended Practice- Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (second edition- October 20191. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The objects of the Princess Project as set out in its governing document are- the promotion of social inclusion for the public benefrt amongst mother5 between the ages of 16 to 30 who are socially excluded, by means of employment, financial hardship, age. substance abuse or dependency. relationshiplfamily breakdown, poor educational or skills attainment, poor physical or mental health. This is achieved by providing a befriending scheme and dropin support, to relieve the needs of those mothers and their children and to assist them to integrate into society- to advance education in accordance with Christian principle5 by njnning parenting courses, and to teach or provide training for parents in other life skills such as nutrition, budgeting and firstaid. to relieve financial hardship among new parents and their dependents by providing good quality second- hand baby and toddler clothin& equipment and toys free of charge. to relieve financial hardship among local familie5 by equipping parents with the skills and opportunity to be able to make and sell a range of goods. to advance the Christian fatth in accordance with our statement of faith. The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charivs aims and objectNes and in planning future activitie5. The objects are achieved through a variety of actNities- Mum2Mum Befriending Service Princess Project New Mum gifts Parenting Groups and Courses Shine Course Totcycle Drop-in support at our Mums. Hubs Supporting mums in the community Providing supported volunteering opportunities Running free family-friendly events Page 2
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 A MESSAGE FROM OUR FOUNDER This year, for the Princess Project as for everyone, has been unlike any other. We have had to be flexible and agile in adapting our servi$ and responding to need, whilst complying with covid-19 guidelines to keep our team and our clients safe. The board of trustees knew that our families would need our support more than ever, so rather than furlough our team. we instead Invented our model of service delFvery. moving online for our Hubs and befriending support Ireopening in a limited capacity as soon a5 we were able) and delivering food and Totcycle items to families rather than getting them to come to Us. This approach has meant that when our mum5 needed us most. we were there for them. It has led to deepened relationships with the mum5 we 5UPPOrt, our funders, and ourcommunity partners. We have been able to 3cces5 covid funding to make up for the lack of fundraising income from in- person events, and our amazingly generous supporters stepped in to buy Totcycle items for families in need when we were unable to apt second-hand donations. This has allowed us to weather the storm that wa5 2020, and emerge stronger. As a result of these changes, our actNities as well a5 our expenditure and income patterns look very different this year. I hope this report will help explain these changes. I would like to say an enonnous thank you to the board of trustees, and to the amazing team of staff, volunteers and supporters that make up the Princess Project. This year even more than usual represented a huge team effort, and was a great illustration of how we can do so much more together than we ever could individually. We tontinue to trust that God is in control. and that better days lie ahead. Emma Tanner Founder/CEO Page 3
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCE: HOW OUR ACTIVITIES DELIVERED PUBLIC BENEFIT . a bysywrfor tht ere's a Vknlstle '¥ boeh Ilp 2020. 21 511PifAwoI APRIL rst IrKkdurtn." Hub5 tk)5e. team art YrtektychknStoVer ICM) Mwr4TtyLW2ddivEtand MAY Mtsmzuumcarntrfty SiEnthi partrietshp agrEeFnVOto bÉcJtn thEfirs1 ofhDal woteMffi12h 3$enfatrfs$Stttic fortnaiion e1 Mum2Mum JULY .socifi.I 5EPTE,'QBER JrlineEelneTrJer Trrdc 2 MITE£S thYayand CabrSE ImRwfot BeftierthF Ttairan8CryM5e OCTOBER rE160Dfvi the ptKessFoJwT OVEMBER DE£EMBER thrCad31 R3fvheklknon Fa(ebook Card5and boDkmark5ghEn tuall Fpmut Pre5en158ven io alUUtn2k4wTrmwad thesrfam&e4 dotkEdtyHéIsoA8chJr<h chr[ma$ Party. frcrfn Sant on iofrwrpn OPEN IANUARY Fa¢ebty fvndraise Pase 4
The Princess Project Annual Report and Financial Ststements for the year ended 31 March 2021 Princess Project 2020-21: looking back on a year of lockdown THE PrLncess PROJECT 140 Mums received one-to-one support 84 Virtual sessions for families (on Facebook Live and Zoom)- videos have been viewed over 15.000 times in total! 833 Visits to Totcycle/ delivery of Totcycle items 364 Families supported in total Page 5
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 GROWTH AND EXPANSION Despite the challenging season, this year has still been one of growth, in temis of both income, local reach, and also expansion into other parts of the UK. We have opened two new Hubs. one at St Augustine's Church in Gillingharn (replacing the previous site at the Community Hub which did not reopen at all this year due to covid restrictionsl and one at the River Centre in Tonbridge. This has allowed us to reach a whole new cohort of vulnerable mums and their families. We have also been talking to churches across the country who may be interested in replicating our Mum2Mum befriending service, and trained an additional 10 befrienders from Maidstone, Medwav and Cambridge. Thanks to grants from Kent County Council (Early Help Grant) and Maidstone Lions. we were able to produce a hi8h-quality video training resource, as well as course manuals and leaders, guides, enabling replicating projects across the country to run their own Mum2Mum Befriender Training Course. We hope that this will allow many further replications in the future. VOLUNTEERS None of this would be possible without the help of our amazing team of volunteers. Princess Project Volunteers 2020-21 18 Hub Team 312 volunteer hours donated 13 Befrienders 390 volunteer hours donated Princess Projert mums who have volunteered wlth us 80 volunteer hours donated Trustees 96 volunteer hours donated "'é-*t: Other volunteers (deliveries. laundry. mum gifts etc) 24 volunteer hours donated Page 6
The Princes5 Project Annual Report and Financial Statements for the year ended 315r March 2021 WHAT OUR CLIENTS SAY ABOUT US "ttwasat so "The kids lookedforward to the 3 weekly focebook lives with the stories ond trying to complete the tasks. One of the lovely ladies messages us a lot and it hos helped me tofeel like I have someone I can tiJlk tcl. The clothesfor my youngest were so helpful when I couldn't get onyfrom onywhere." "It mode o huge dfftrence the team checking in doily to see how me und my doughter was doino or rf we needed anything." he support has made me feel less isolated and that I have someone to talk to if I ave met a wonderful befrien nd the project co-ordinator has been amazip& always Checking in and making sure we have enough er •• need to. Princess Project are like my second famity." of everythin8.° the :.thet less i501adal h¢W5S Oa kmity. PFingessPFOie£t is frantstiE , Mulnerabk 1¢ feet 4aTrTr. puttit¥ •%•ie OTr QUF tsEe. ho¥p. Page 7
The Princess Project Annual Report and Financial Statements for the year ended 31st March 2021 WHAT OUR PARTNERS SAY ABOUT US ou're all so brilliant thankyou so much- "you ore such u wonderful service. Thank you so much I" Perinatolsupport worker. FamilyArtion Nicola Miller. Heolth Visitor -Kfep up the great wo are doing." Social worker. Medway Page 8
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 A YEAR IN PICTURES Keep SrniLei Page 9
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 FINANCIAL REVIEW Total Income £125.(O) £1[1.1) 75.1ts) 5.1)YJ £0 As can be seen from the chart above. income increased significantly over this financial year. °Other trading activities" represents fundraising income. This represents an unusually small proportion of our income this year, due to our inability to hold in-person fundraising events. Donation income can be split up as follows- Page 10
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Donation and Grants Income 2020-21 56% of donations income this financial year came from grants from a number of different funder5 Idetails of all of these tan be found in note 14 of these accounts.) Donations of goods and services represent an upgrade/redesign of our website: laptops for our staff team- storage, office and meeting space- items for new mum gifts- tombola and raffle prizes: printing of course notes and promotional materials- and payroll and accountancylindependent examination services. We are tremendously Brateful for this support and without it we couldn't have provided the level of services we have achieved. The value of all donated goods and services are matched by corresponding costs shown either within direct charitsble acrivtty costs or support Costs within the year. Page 11
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Total Expendlture 2020-21 £7,[ £75.C ESQ[) £25.(Ql Il__ Reflecting our organisational growth, the costs of charitable artivities have once again risen significantly from 2019/20 to 2020121. This years. increase 15 almost entirely due to the increase in expendtiure on covid-19-related direct support to our mums and their families. As can be seen from the grdphs below, our pattern of expenditure looks very different compared to last year. Some 'usual' areas of expenditure (namely Parentalk and Shine) have zero expenditure this vear, as we haven't been able to run any of our courses. We also stopped the drop-in at Fusion Café when we opened our Park Wood Hub. hence zero expenditure on droEFin support this year. We also saw a drop our Hub expendtture. which reflects the fart that our Hubs were unable to open for a large proportion of the year. Some costs (such as rent and storage) continued unchanged throughout the pandemic, however, hence the Hubs remainin8 a major expenditure. We have spent Significant more on 50rne of our other projects and services in comparison to previous years, namely Totcycle, outreach and one-to-one support. Thi5 represents the support we have been providing throughout the pandemic, including purchasing items for families Inappies, baby formula, and other Totcycle items). as well as staff time providing support to hundreds of individual mums via phone/messagin& and delNering food and baby essentials to families in need. Page 12
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Expenditure on Charitable Activitie5 2021V21 Expenditure on Charitable Activities 2019-20 £1QlP Page 13
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 RISK MANAGEMENT The board of Trustees continues to assess, identify and addre55 areas of risk and to put controls in place to minimise these. Key controls include- Formal agendas and minutes for all board meetings- Regular financial reviews including preparation of management accounts. budgeting and reviews of reseNe levels- Formal procedures for safeguarding children and vulnerable adults,. Regular review of compliance with dats protertion legislation- Risk assessments of all publicly attended activities; Development of written policies and procedures surrounding volunteer grievance. equal opportunities and diversity, media arbd social networking, confidentiality, lone working and personal safety. and talking about faith guidelines: Development of strategic plans,. and Regular training for staff and volunteers. RESERVES POLICY The trustees understand the importance of maintaining a level of reserves to enable them to continue to offer seNices during periods of financial uncertainty- During the year the trustees assess the current level of expenditure and the need to hold reseeS to meet the notice c05t5 a55ociated with the employment of the staff team in the event of a Sudden change in circumstances. The trustees consider that a reserve level of £11.069 was sufficient to meet these costs and to fund the urrent level of volunteer led actNity for 2 months. The total free reserves of the Princess Project after adjusting for fixed assets and restricted funds amount to £19,630. PLANS FOR THE FUTURE Our plans for 2021122 include.. To build relationships with churches across the country who are interested in replicating Mum2Mum, and to establish more remote Mum2Mum projects To build relationships with churches and other orgonisations in Tonbridge and Malling and the Isles of Grain and Sheppey with a view to growing our presence in those areas Continue to build relationships with Maidstone and Medway churches and professionals Grow our team Iboth staff and volunteers) to reflect the increasing demand for our seNices Invite two new service users onto our board of trustees, to ensure that the voices of our mums are heard at every level of the organisation Continuing to raise the profile of the charity. especially around our 10 anniversary in June 2021 Page 14
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT The charFty 15 a registered Charitable Incorpordted Organisation (charity number 11550211 and is governed by the temis of its constitution. Trustees are appointed by the current trustees. Truslees retire by rotation every 3 yeèrs and can stand for re-election at that time. The constitution stipulates that there should be a minimum of 3 trustees and a maximum of 12. The day-to-day operation of the charity is delegated to the CEO who is also a member of the trustee board (with Charity Commis5ioTr approval). When skills gaps are identified by the board, potential new trustees are sought from the local church community and serve user groups to meet these needs. The trustee board meets at least 4 times per year. and more often where needed. KEY MAIIAGEMEMT PERSONNEL REMUNERATION The trustees consider the board of trustees and the chief executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. With the exception of the CEO, who is paid, with Charity Commission approval, all trustees give of their time freely and no trustee remvneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 10 to the accounts. Trustees are required to disclose all relevant interests and register them with the CEO and in accordance with the chariws policy withdraw from decisions where a conflict of interest arises. The pay ofthe charitys CEO and other staff is reviewed annually. We paythe community support workers the hourty rate recommended by the Living Wage Foundation. Page 15
The Princess Project Annual Report and Financial Statements forthe year ended 31 March 2021 REFERENCE ANO ADMINISTRAT1VE INFORMATION TRUSTEES Jane Negus Chair of Trustees Neil Sampson Secretary Julie Samson Treasurer luntil 15 June 20201 Steve Ring Treasurer15ince 15 June 20201 Emma Tanner CEO Itrustee until 18 October 20211 Rev. Phil Goodey Maureen Hadlum (until 16 February 2021) Georgina Tomlin (until 25 January 20211 Angela Trigg (since 9 October 20191 Helen Williamson Principal Office The Princess Project. chri Church, Park Wood. Maidstone, Kent ME15 9JW Independent Examiner Edward Rands FCA, 16 Mill C105e, Shepshed. Loughborou8h, Leicestershire LE12 9UA Prlnclpal Banker CAF Bank, 25 Kings Hill Avenue. Kings Hill. West Mallin& Kent ME19 4JQ Page 16
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordancè wtth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are reqUId to: select suitable accounting policies and then apply them con5i5tently.' obse¢ve the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent- state whether applicable accounting standards have been followed. subjert to any material departures that must be disclosed and explained in the financial statements- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the tharity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities IAccounts and Reportsl Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregulartties. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charitys website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the trustees on 13th January 2022 and si6ned on tIEir behalf by= Jane Negus Chair Page 17
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Independent examinerfs report to the trustees of The Princess Project I report to the chartty trustees on my examination of the accounts of the tharity for the year ended 31 March 2021 which are set out on pages 19-33. Responsibilities and basis of report As the chariws trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the AcVI- I report in respect of my examination of the chartvs accounts carried out under section 145 of the Act ar)d in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llb) of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Art; or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the applicable reqU1MentS concernin8 the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 21XJ8 other than any requirement that the accounts 8tve a "true and fair viev¥' which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Edward Rands FCA 16 Mill Close Shepshed Loughborough Leicestershire LE12 9UA Date: Pa8e 18
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 Statement of Financial Activitles For the year ended 315t March 2021 Unrestrirted Restricted 2021 2021 Total Unrestricted Restricted 2021 2020 2020 Total 2020 Notes Income from: Donations 45.414 925 60,312 105,726 925 29,943 11.806 41,749 36,949 66,892 11,806 78.698 Other trading artivities Total 46.339 60.312 106.651 36.949 Expenditure on: Raising funds Charitable activities Total 3,507 32.268 35,775 3.507 85.123 88,630 8,303 27,997 36.300 8.303 51.685 59,988 52.855 52.855 23.688 23.688 Net Income/{Expenditure) 10,564 7.457 18,021 5,449 13,261 18,710 Reconciliation of funds Total funds brought forward 13/14 11.040 24.426 35.466 5.591 11.165 16.756 Total funds carried forward 21,604 31.883 53.487 11.040 24,426 35.466 Page 19
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 Balance Sheet As at 315t March 2021 2021 2020 Notes Fixed A55ets Tangible Fixed A55ets 1.974 361 Current Asset5 Debtors Cash Total Current Asset5 949 50,845 927 34,453 51.794 35.380 Creditors: amounts falling due In one year 281 275 Net Current Assets 51.513 35.105 Net Assets 53.487 35,466 Total funds of the charity: Unrestricted Funds Restricted Funds Total Funds 15 21.604 31,883 53,487 11.040 24,426 35,466 ll K)y- Jane Negus Chair Approved by the Trustees on the Steve Ring Treasurer Page 20
The Princess Projert Annual Report and Financial Statements for the year ended 31" March 2021 Statement of Cash Flows Forthe year ended 31st March 2021 2021 2020 Notes Net cash inflow from operating activitie5 16 17.946 16.572 Investing activities Purchase of tangible fixed a55et5 11.5541 14151 Increase in cash for the year 16,392 16,157 Cash at the start of the year 34,453 18,296 Cash at the end of the year 50,845 34.453 Page 21
The Prince55 Project Annual Report and Financial Statements for the year ended 3151 March 2021 Note5 to the Accounts st For the year ended 31 March 2021 l. Accounting Policies Basis of preparatlon and going concern The financial statements have been prepared under the historical cost convention and in accordance with the statement of Recommended Prattice- Accounting and Reporting by Chariiies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1021 (second edition- October 20191, the Financial ReportinE Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 (updated March 20181, and the Charities Act 2011. The charity constitutes a public benefit Èntity as defined by FRS 102. The Trustees tonsider that there are no material uncertainties about the Princess Projert's ability to continue as a going concem. Income arise5 from a combination of donations, grants and fundraising activities. The highest area of cost is associated with the employment of the Chief Executive Officer ICEOI and community support workers ICSWSI. The level of reserves necessary to meet these costs and the continuing costs of volunteer-led activities is kept under constant review by the Trustees. In addition, the reserves policy includes amounts to protert the ongoing work of the charity should ncome levels redijce. Income Income, including income tsx recovered on amounts received by way of Gift Aid. is recognised in the Statement of Financial Activities once the charity has entitlement to the resources, it is certain that Ihe resources will be received and the monetary value of the incoming resource5 can be measured with Sufficient reliabiliry. Donated goods and servi5 Included within donations is the estimated value of gifts in kind and goods or setvices donated to the charity where the amounts are material. readily quantifiable and measurable. Such estimates are based on the market price the charity would otherwise have paid. Resources expended Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditu. All expenditure is accounted for on an accruals ba515 and has been classified under headings which aggregate all costs related to the category. An amount equal to the donation income recognisÈd on gifts in kind (not for resale) and goods or services rece¢ved free of charge is included wtthin the most relevant category of expenditure to which the donation lates. Total resources expended include the allocation of support costs to the various expenditure categories set out in the Statement of Financial Aciivities. Support Costs have been allocated to activitie5 on a basis consistent with the use of resources as shown in note 12. Other costs relate to raising funds as set out in note 4 and costs relating to charitable activities as set out in note 5. Grants Grants are received from various funders and a recognised on receipt- Page 22
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 Notes to the Accounts (continued) For the year ended 31" March 2021 l. Accounting Polides Icontinuedl Value added Tax Value added tax is not recoverable by the chartty, and a5 such is included in the relevant costs in the Statement of Financial Activities. TanEible fixed assets Assets are reviewed on an individual basis and capitalised when an ongoing benefit will be provided to the charity. Depreciation is provided at the following rates in order to write off the assets over their estimated useful lives. Equipment 33% strdight line A fijll year's charge is made for the year in which an asset is purchased. No depreciation is charged in the year of disposal. Impairment losses are recognised when there is an indication of impaimient and the asset's recoverable amount is less than its cèrrying amount. Accrued Income Accrued income represents the amounts claimed for Gtft Aid due on donations received before 31 March 2020 which had not yet been recovered from HMRC. The charity had no trade debtors in the year. Cash at bank and In hand Cash includes cash held in the charivs bank accounts and a small amount of petty cash. Accruals and Deferred Income Accruals comprise unpaid staff expenses relating to the period which were paid shortly after the year end. There was no deferred income at 31 March 2021 or 31 March 2020. The charity had no trade creditors at 31 March 2021 or 31 March 2020. Pen5rons The charlty made pension contributions for the CEO of £1.512 during the year. Restrirted and Unrestricted Funds Restrirted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to that fund. Unrestricted funds are donations and other income received or 8enerated for the objectNes of the Charity without further specified purpose and are available as general funds. Page 23
The Princess Project Annual Report and Financial Statements for Ihe year ended 31" March 2021 Notes to the Accounts (continuedl For the year ended 31st March 2021 2. Donations Unrestrfrted Restritted Total 2021 Totsl 2020 Donations from Individuals Donations from Organisations Grants 13,984 5,ICQ 13,984 6.1(X) 59.312 59,312 13.030 10.341 29.405 Donation5 of goods and services 26,330 26,320 14.116 Total Income 45,414 60,312 105,726 66,892 Grants were gratefully received from: Kent Community Foundation Covid Fund Kent County Council-Gary Cooke Members. Grant Golding Homes Community Chest Golding Homes Countryside Covid 19 Response Grant Kent County Council Kent Community Foundation- Mums, Hubs People's Health Trust- Park Wood Hub Colyer Ferguson Charitable Trust Maidstone Llons Involve Henry Stnith Charity Maidstone Borou8h Council Allchurche5 Trust Testo Bags of Help Chatham Maritime Trust People's Health Trust- Mums Together in Park Wood Golding Vision Monckton Whitehead Charitable Foundation Help A Maidstone Child Total 3.(MX) 3.C i.(W i,(KM) 750 750 2,SCK) 8.440 4.813 8,440 4,813 5,c 5,000 5,000 5,559 5.559 4.447 5,(NXJ 5,C(JO S.j 2,IKJO 2,(XMI 2,tNJo 7,500 6,700 3,550 7,500 6.71X) 3,550 273 3.335 1.5 1,5tM) i.(M 1.500 350 59,312 59,312 29.405 Pa8e 24
The Princess Project Annual Report and Financi31 Statements for the year ended 31 March 2021 Note5 to the Accounts {continued) For the year ended 31 March 2021 3. Income from other trading activities Unrestrirted Restricted Total 2021 Total 2020 Hollywood Ball Other Fundraising events Other trading activities Total Income from other trading activities 6.397 5.010 399 734 734 191 191 925 925 11.806 4. Costs of raising funds Unrestricted Restricted Total 2021 Totsl 2020 Staff Costs Hollywood Ball Christmas Fair and Barn Dance Promotional Materials Raffle and Auction Prizes Miscellaneous Costs Support Costs (note 121 Total cost of raising fvnds 1,859 1,859 1,798 5,490 266 13 13 350 350 129 129 1.156 3.507 1,156 3,507 740 8,303 Page 25
The Princess Project Annual Report and Financial Statements for the year er)ded 31 March 2021 Notes to the Accounts (continued) For the year ended 31" March 2021 5. Costs of Charltable Artivities Mum2Mum Bofrionding New Mum Gifts Parenting Group5 and Courses Drop-ln SUPPDrt Totcycle Shine Staff Costs Refreshments Gift5 for Murns Resources and equipment Christmas Party/ Gifts/Hampers Promotional Materials Covid emergenc Rental Depreciation Support Costs (note 121 Total Costs 3,253 929 11.152 1.214 37 13 13 14 4,479 2,337 522 2,023 578 6,935 5.326 2.734 25.439 Outreach Hubs 121 Support Mum2Mum Replication Total 2021 Total 2020 Staff Costs Refreshments Gifts for Mums Resource5 and equipment Christmas Party/ Gift5/Hampers Promotional Materials Covid emergency Rental 7,435 4,182 6.041 2,788 35,780 29,132 537 2,035 520 1,734 751 4,443 5.231 476 594 594 138 14 14 13 13 94 85 1,222 5,701 13,087 652 10,750 130 7,294 Depreciation Support Costs Inote 121 Totsl costs 4.623 2,601 3,756 1,734 22,250 11,988 14,408 18,428 9.810 8.978 85.123 $1,685 £52,855 of the costs of charitable activities were charged to restricted funds12020- £23.6881. Page 26
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Notes to the Accounts (continued) For the year ended 31rt March 2021 6. Net Movement in Funds Net movement in funds is stated after charging= Total 2021 Totsl 2020 Independent Examination Accounting work by Independent Examiner Depreciation of owned fixed assets 825 800 825 1.141 221 7. Tanglble Fixed Assets Equipment Totsl 2021 Equipment Total 2020 Costs As at I" April 2020 Additions 1.519 2.754 4,273 1.104 415 As at 31° March 2021 1,519 Depreciation As at I" April 2020 Charge for the year As at 31" March 2021 1.158 1,141 2.299 937 221 1,158 Net Book Value As at 31" March 2021 1.974 361 As at 31" March 2020 361 167 Page 27
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Notes to the Actounts (continued) For the year ended 31$1 March 2021 8. Debtors 2021 2020 Gift Aid Tax recoverable 949 927 949 927 9. Creditors: arnounts falling due within one year 2021 2020 Accruals Other taxes and social securtty Deferd Income (note 9a) 281 275 281 275 93. Deferred Income 2021 2020 Brought Forward at I" April 2020 Released in the year Deferred in the year Carried FoThvard at 31 March 2021 2.368 12,3681 10. Related party transactions During the year. payroll payments, including pension and Employerfs National Insurance, totalling £24.310 12020 £24.1781 were made to Emma Tanner, the CEO. who is a Trustee employed with Charity Commission approval. In addition to payroll payments. the CEO was reimbursed expenses arising from her role as CEO totalling £3,595 12020 - E2.3421. £348 12020 £6651 of this was for mileage and the remainder was to reimburse out of pocket expenses to directly fund charitable activity. The increase in reimbursed expenses in 2021 arose due to the significant additional sUPPOrt needing to be provided to families during lockdown. Key management personnel of the charity are considered to comprise the CEO and the other Trustees. Other than the CEO. none of the Trustees receFved any remuneration during the year12020- nil). Page 28
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Notes io the Accounts Icontinued) For the year ended 31st March 2021 ii. stsff Costs 2021 2020 Wages and Salaries Social security costs Pension costs 44.956 2,046 1,512 48,514 32,674 1,936 1,358 35,968 Including the CEO (see note 101. there were four employees during the year12020- 41. The full balance of the Employer's National Insurance Contributions of £2,046 was met by the annual employment allowance. No employee received a salary exceeding £60.0(Ki during the year12020- none). Details of remuneration received by the Trustees are set out in note 10. Page 2g
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 Notes to the Accounts (continued) For the year ended 31" March 20ZI 12. SupF>Ort Costs The support costs of the charity have been allocated as follows based on time spent on each activity by the CEO and other employees= 2021 2020 Mum2Mum Befriendin8 New Mum Gifts Parenting Courses and Groups Totcycle Drop-in Support Shine Outreach Hubs 121 Support Mum2Mum Replication Cost of raisin6 funds 2,023 578 1,184 148 888 296 30 6,935 296 296 20 li 4,623 2,601 3,756 1,734 1,156 23.È106 6,216 1,776 16 740 l(M) 12,728 Support Costs were made up asfollow5 2021 2020 Staff Costs 8,829 90 5.035 i(M) Printing. Postage and Stationery Volunteers. expenses Website costs Travel Phone and broadband Office costs Insurance 113 189 10.120 534 712 518 774 314 4.238 445 388 Governance costs 2.040 23.406 1.695 12.728 Website costs in 2021 represent the donated seryices of the update and redesign of the charitW5 website. Governance costs included the donated seNices of the Independent Examiner and the costs of meeting space for board meeting5. Page 30
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Notes to the Accounts (continued) For the year ended 31" March 2021 13. Unrestrirted Funds 2021 2020 Balance brought forward Net incomellexpenditurel 11.040 10.564 5.591 5,449 Balance carried forward 21,604 11,040 14. Restrirted Funds Asati April 2020 Income Expenditure Asat31 March 2021 Chatham Maritime Trust Monckton Whitehead Charitable Foundation Golding Vision Community Chest Henry Smith (Parkwood Hub) Colyer Ferguson (support worker) Cinnamon Network IMum2Mum replication) People's Health Trust (Parkwood Hub) Kent Community Foundation Coronavirus Emergency Fund Involve MBC 273 161 112 1,408 166 i.oii 397 166 5.7(N) 3.1 6,262 4,960 6,938 3.941 3,949 3,856 4,718 455 1,216 6,533 5,125 2,151 2,733 2,882 4,593 304 5,559 2,000 833 3,138 6,700 3.550 2.(K)O 5,867 412 Allchurches Trust Maidstone LÉon5 Club Kent Community Foundation Covid Fund Covid-19 Response KCC Early Help Grant Golding Vision Totcycle Golding Homes/Countryside Covid 8.216 4.075 1.102 764 52.855 224 4,813 2.250 738 1.148 1,736 31.883 24.426 60.312 Page 31
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2021 Notes to the Accounts (continued) For the year ended 31" March 2021 14. Restricted Funds Icontlnued) Chatham Maritime Trust made a grant in January 2020 to cover the cost of purchasing additional storage/re50urce5 for our Medway Hub. Monckton Whitehead Charitable Foundation made a grant in September 2019 towards general running cost5 at our Hubs (not Staff costs). In September 2019 we received a grant from the Henry Smith Charity, part-funding our Parkwood Hub. This income has been applied towards the running costs of this seNtces (including staff costs) included within charitable activities. Colyer Ferguson Charitable Trust awarded us a grant in August 2019, to part-fvnd a new Maidstone Community Support Worker. This income has been applied towards the staff costs included within charitable artivities. In June 2019 we receNed funding from individuals attending the Cinnamon Network Projert Lab final towards our work replicating the Mum2Mum befriending service across the UK. This income has been applied towards the running c05ts of this work (including staff c05tsl included within charitable activities. In January 2020, we receNed a grant from the People'5 Health Trust, part-funding our Parkwood Hub. This income has been applied towards the running costs of this seNices lincludin8 Staff costs) included within tharitable activities. The Coronavirus Emergency Fund relatesto donations made by individuals towards the costs of buying emergency food parcels. nappies, and baby fomiula for families affected by covid-19. In December 2020. we received a grant from Involve towards our coronavirus emergency response in Tonbridge and Malling. This income has been applied towards staff costs included within charitable activities. In December 2020 we received a winter grant from Maidstone Borough Council to help us provide winter clothing. equipment and other baby and toddler essentials to families in need. This income has been applied towards the running costs of this work Inamely staff c05tsl included within charitable activities (Totcyclel. In January 2021 we received a Hope Beyond 8rant from Allchurches Trust to help us provide emergency toronavirus support in Tonbridge and Malling through the Hubnotcycle. This income has been applied towards the running cost of these activities lincluding staff costs) included within charitable activities. In September 2020 we received a grant from Maidstone Lions Club to part-fund the making of our Mum2Mum BefrienderTraining Course videos. In April 2020 we received a grant from Kent Community Foundation Icovid Fund) to fund core activities providing support to families affected by the pandemic. Page 32
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2021 Notes to the Account51continued) For the year ended 31st March 2021 14. Restricted Funds (continued) In September 2020 we received an additional grant from Kent community Foundation towards the running cost5 of our Mum< Hubs in Maidstone and Medway. This income ha5 been applied towards the running costs of the Hubs (including rental costs and stsff Costs) included within charitable artivities. In July 2020 we recerved a Covid-19 response grant from the government (through the Awards for All programmel towards our organisation's core costs (including staff costs) during the pandemic. In August 2020 we reiVed an Early Help Grant from Kent County Council August 2020 for Mum2Mum in Maidstone. including part-funding the Befriender Training Course videos and staff costs. We received grar)ts from Golding Wision towards our coronavirus emergency response lincluding the purchase of top-up items for Totcycle) in May 2020 and March 2021. We received a grant from the Countryside Communities Fund towards our coronavirus emergency response (including the purchase of top-up item5 for Totcyclel in May 2020. 15. Analysis of Net Assets between Funds Tangible Flxed Assets Net Current Assets At 31 March 2021 At 31 March 2020 Restricted Funds 31,883 19.630 31,883 21,604 24,426 11,040 Unrestricted Funds 1.974 1,974 51,513 53.487 35.466 16. Reconclliation of net movement in funds to net cash flow from operating artivities 2021 2020 Net movement in funds Add back depreciation Less gifts in kind- fixed assets Ilncreaselldecrease in debtors Increase/ldecreasel in creditors 18,021 1,141 11,2WI 1221 18,710 221 133 (2,4921 Net cash Inflow from operating activities 17,946 16.572 Page 33