' ANNUAL REPORT & FINANCIA STATEMENT 2022~ 2023 THE PRINCESS ',frROJECT ' Registered cAarity Number 1155021
The Prince55 ProjeLt Annual Report and Financial Ststements forthe year ended 31 Marth 2023 CONTENTS Pagelsl Trustees, Annual Report 2-18 Independent Examinerfs Report 19 Statement of financial Activities 20 Balance Sheet 21 Statement of Cash Flows 22 Notes to the accounts 23-34 Page I
The Princess Projert Annual Report and Financial Ststements for the year ended 31 March 2023 TRUSTEES, ANNUAL REPORT The trustees present their trustee5 annual reF)Ort together with the financial statements of the charity for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charivs governing document, the Charities Act 2011 and the Statement of Recommended Prartice- Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reportlng 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 Prin$5 Project as set in its governing document a= the promotion of social inclusion for the public benefit amongst mothers between the ages of 16 to 30 who are socially excluded, by means of employment, financial hardship, a8e, substance abuse or dependenry, re13tionship/family breakdown, poor edtjcational or skills attainment. poor physical or mental health. Thi5 is achieved by providing a befriending scheme and drop-in support, to relieve the needs of those mothers and their children and to assist them to integrate into society. to advance education in accordan with Christian princÈple5 by runntng parenting courses, and to teach Of provide training for parents in other life skills such as nutrition, budgeting and first aid. to relieve financlal hardship among new parents and their dependents by providing good quality second- hand baby and toddler clothing, equipment and toys free of charge. to advance the Christian faith in accordance with our statement of faith. The trustees confirm that they have referred to the Charity Commtssion's guidance on public benefit when reviewing the charitWs aims and objectives and in planning future artivities. The objects are achieved through a variety of activities: Mum2Mum Befriending Service Princess Projert New Mum gifts Parenting Programmes Shine Course TotLycle Drop-in support at our Mum< Hubs Supporting mums in the community Providing sUPPOrted volunteering opportunities Running free family-friendly events Hope Café Page 2
The Princess Projert Annual Report and Finanoal Statements for the year ended 31 March 2023 INTRODUCTION As always. this year has been a bit of a rollercoaster for the Princess Projert team. We have seen some amazing 'w1n- our work growing on Sheppey. employing Karen Tullett to start establishing a Hubifotcycle in Chesterfield in partnership with Edge Ministries. record number5 of visits to our established Hubs, Totcycle continuing to be a valuable resource for the community as the Cost of Living Crisis started to bite, watching the one-ttrone relationships which are part of Mum2Mum blossom and bear fruit. We have started our face-tfrface courses again, running a Shine course, and also our first ever Kids Matter course, a wonderful parenting resource specifically targeted at families experiencing disadvantage. We have started a new initiative. Hope Café, which is a safe place for mums to explore the Christian faith- no question too big. too small, or too silly. We held our second Conference. with the theme of 'Being Salt and Lighy. and it was so encouraging to meet together as 3 wider Princess Project'famil¢ across all of our projects. to learn from each other and worship together. The year has not been without its challenges, however. We said Boodbye to one of our Maidstone CommunFty Support Workers in December. who took up a post within another local charity. and then one of our core team had a nasty accsdent in Januaryi meanin8 we were short Staffed for the first part o* 2023. Even through this we could see God's hand at work, a5 our remaining team pulled together and worked incredibly hard, other or8anisations Stepped in to support us (for example Maidstone Children's Centres sent a member of staff along to the Hubs to help us outl and our mums were patient with us. We alway5 say the Princess Project is a huge team effort- and never has Ihat been more evidenL l am so grateful to èveryone who has played a part in helping us to achieve the outcomes we are so proud of this year, and which are detailed in this report. Our wonderful staff team. for whom nothing is too mLtch trouble, and who always go the extra mile. and have supported each other this year through thick and thin. Our prayer team. who meet once a month on zoom and pray for o%Jr team, our mums, and any specific problems or issues that may arise. Our EK)ard of trustees, who generou51y provide leadership and guidance through changing times. Our amazing volunteers, who consistent5y go above and beyond to serve our mums with such patience. love. dedication and good humour. All the individuals, organisations and grant making bodies who support us financially. and everyone in the comrnunity who has generously donated baby and toddler items for Totcycle. We really can do so much more together than we ever could on our own. Mostly l am grateful to God, who this year135 always) has provided for all our needs- not always what we want when we want rt butalwayswhat we need when we need it. God willin8 we will continue to be his hands and feet to the mums he puts in our path for many years to come. Emma Tanner Founder/CEO Page 3
The Princess Project Annual Report and Financial Ststements for the year ended 31° March 2023 A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCE.- HOW OUR ACTIVITIES DELIVERED PUBLIC BENEFIT Prince&s p&)kcr 2022-23 TIMELINE Shtne course May Ktth Motter Jun Jul Summer fvn New faces Sep ConfereKe Oct Nov Jan lope Cofe Feb Mother's Doy Mar Page 4
The Princess Projert Annual Report and Financial Statements for the year ended 31" March 2023 PRINCESS PROJECT 2022- 2023 A YEAR IN NUMBERS 1,2n HUB VISITS Our HLts PT(Mde a safe. omingerThthorKrvff fornab TOTCYCLE VISITS 817 TotL)th ts ¢xJr baty afKI to¥ qtySid hand ba Kl to(kIr Éi)yS tots d ewmpment fvee of dk4rge b> nls 68 PAVMS RECEIVING INTENSIVE 1-TO-1 SUPPORT hY)m ourteam ofvolurrte2r befriLIeV& or4yJrstaff ream. Our team prth consistenL kng4ern xouragemenL buthJiTrg sew. aTh1 heatharMI of mwn5tsknn8pafLand ieducin8 GIFfs GIVEN TO NEW MUMS 136 to make fed valuedaThJ spec[ arKI to TwniTvJ thern that 12 Mukls ArrENDED ONE OF OUR COURSES blingSe1f-Cord@ntÉ. IW ShinÈaNI KKIS Matter FAMIUES SUPPORTED IN TOTAL 696 fam&esthrsJtw. Page 5
The Princess Projert Annual Report and Financial Statements for the year ended 31° March 2023 VOLUNTEERS None of our work this year would be possible without the help of our amazing team of volunteers. who donated a grand total of 1.794 hours Ithays 75 days!) of time to us this year. Princess Project Volunteers 2022-23 20 Hub Team 720 volunteer hours donated 15 Befrienders 780 volunteer hours donated Other volunteers= (deliveriesl ortln& courses. fundraisin& new mum gifts, prayer team) 25 166 volunteer hours donated Trustees 96 volunteer hours donated Professionals donating their time and expertise- IT. payroll. accountancy services 32 volunteer hours donated Page 6
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2023 Our Impact We ask the mums we support what difference the iy)l<ill,(I l(1 iic'ii- IxY)i)Ii' Princess Project makes to them. by means of termly anonymous questionnaires. Page 7
The Princess Project Annual Report and Financial Ststements for the year ended 31 March 2023 WHAT OUR CLIENTS SAY ABOUT US 66 The Princess Project has helped us out major with mental health support and being there for me throughout my second pregnancy. birth and everydaychecking irn They have supported me at my lowest and my hest point& I honestly ieve I wouldn't be h without them. 66 It has given me the confidence to interact socially and it's hel me manage nancially. 66 66 It has made me feel welcome and given my child somewhere to interact with other children without feeling judged. I no longer get stressed if I have a financial problem or if I need any kind of infonnation because they are there to help me. 66 I have been able to develop some good friendshipswith parents In the same situation as me. l am more confident I get out regularly. It has really made a profound difference in m mental health and we I being. 66 All the people are lovely. and being able to get help with milk powder. nappies etc ha5 been so helpful when times are hard. Page 8
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2023 WHAT OUR PARTNERS SAY ABOUT US The support I have always re¢eived from the Princess Project is priceless.. from most needed pushchair to valuable Comforting words- all just summarise your amazing workt Huge thank you toyou all on behalf of the families that received support from Princess Project team. The Princess Project are non-judgemental and welcome everyone to their groups. where they give parents a warm welcome and a feeling of worth which increases their self-esteem. You are a truly valuable local service that is appreciated by profes5iona15 and parents alike . Famil Support Worker. Chil ren in Cafe team Early Help Worker I have alway5 found the Pr¥nce55 Project extremely helpful. The referral process is strai ht fonmard and always dealt wit promptl . All referrals are ionally and my dealt with pro clients are very grateful for the outstanding support tsare given. I have done several referrals ovèr the last few years and Princess Project has Iways been wonderfu providing some much-n supplies to families in need. They have been sensitive to 5pecFfic needs of the familÉes and have offered extra services like stay and pla sessions. parenting services. courses andLfriendin They are a hu9e bene ttoour local vulnerable famili I havè been worki with the uryears now and have always been impressed with thè level of support they can offer. Social Work Assistant Early Help Worker Page 9
The Princess Project Annual Report and Finanaal Ststements for the year ended 31 March 2023 A YEAR IN PICTURES Page 10
The Princess Project Annual Report and Finanaal Ststements for the year ended 31 March 2023 FINANCIAL REVIEW Total Income 2022-23 ioo.L 20.( li_ As can be seen from the chart above, overall income remained broadly stable over this financial year. with donation income slightly increased, and a modest increase also in income from other trading activities. "Other trading actFVities- represents fundraising income, and income from selling rags- although thi5 has grown since last year. it Is still significantly below our £IO,(MX) target. Holdin8 in-person fundraising events is still provi problematic P05t-covid. and we entered the cost of living crisis- both of these factors have impacted peoples, behaviour and spending habits. Page 11
The Princess Project Annual Report and Financial Ststements for the year ended 31 March 2023 Donation income can be split up as follows: Donation and Grants Income 2022-23 Grtrnts 61. 61.5% of donations income this financial year from grants from a number of different funders Idetails of all of these can be found in note 14 of these accounts.) The proportion of donations from individuals we have received this year is significantly lower than the previoijs financial year117% as opposed to 31%}- this is mostly due to a very generous one-off individual donation during the previous financial year. We are happy to have more than doubled the level of organisational giving this year from 3%12021-221 to 7%12022-231. as more churches and businesses have supported us financially. We hope to be able to continue to grow and develop both these and FK)tential new partnerships going foThvards. Donations of 8oods and services represent storage, office and meeting space; items for new mum gift bags, and gifts for Motheds Day and Christmas,. new Totcycle items such as nappies and baby formula,. and IT. payroll and accountanryfindependent examination Sery15. We are tremendously grateful for thi5 5UPPOrt and without it we couldn't have provided the level of services we have achieved. The value of all donated good5 and 5ervites are matched by corresponding costs shown either within direct charitable activity costs or support costs within the year. Pa8e 12
The Princess Projert Annual Report and Finanoal Statements for the year ended 31 March 2023 Total Expenditure 2022-23 120X 20.(KN) li_- The amount we have spent on charitable activities has remained fairly Stable from 2021-2 to 2022-3. A5 can be seen from the graphs below, our pattern of expenditure look5 broadly similar to last year. Our Hubs remain our biggest outgoin& followed by Totcyele- Totcycle spending has increased this year which reflects the increased number of referrals, especially for nappies and formula milk, which we usually have to purchase. We are grateful to have received grant funding to enable us to meet thi5 growing expense (see note 14 for more detai151. Spending on replication has increased this year. as we worked to replicate the HubThotcycle in ChesterField and also forged a partnership with Word of bfe Church in Luton, who plan to open a Mums. Hub late 20231early 2024. We continue to support Mum2Mum Cambridge as they runtheir local project. Pase 13
The Princess Projett Annual Report and Finanaal Statements for the year ended 31" March 2023 Expenditure on Charitable Activities 2021-22 2MuM¢L1prWj 14ty1 SUPPQrt Ibjb 10.1 Expenditure on Charitable Activitles 2022-23 Mum2Mum (Local w4*£ts1 10.OCLI Page 14
The Princess Project Annual Report and Financial Statements forthe year ended 31° March 2023 RISK MANAGEMENT The board of Trustees continues to assess. identify and addre55 areas of rTrsk and to put controls in place to minimise these. Key contro15 include: Formal a8endas and minutes for all board meetings.. Regular financial reviews including preparation of management accounts. budgeting and reviews of reserve levels- Formal procedures for safeguarding children and vulnerdble adults,. Regular review of compliance with data protection legislation,. Risk assessments of all publicly attended activities- Development of written policies and procedures surrounding volunteer grievance, equal opportunities and diversity. media and social networkin& 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 Importan of maintaining a level of reserves to enable them to continue to offer seN¢S during periods of financial uncertainty. During the year the trustees a55es5 the current level of expenditu and the need to hold reserves to meet the not[ costs assoclated with the employment of the staff team in the event of a sudden change in circumstantes. The trustees consider that a reserve level of £16,(XK) was sufficient to meet these costs and to fund the turrent level of volunteer led activity for 2 months. The total free reserves of the Princess Project after adjusting for fixed assets and restricted funds amount to £40,531. PLANS FOR THE FUTURE Our plans for 202314 include- To build relationships with churches across the country who are interested in replicèting Mum2Mum and/orthe Hub and Totf¥cle To open a Hub on the Isle ofsheppey. and to reopen a Tonbridge Hub Continue to build relationships with local churches and professionals Grow our volunteer team to reflect the increasing demand for our servi5 Establish our first Northem Hub and Totcycle in Chesterfield. in partnership with Edge Ministries Page 15
The Prlncess Project Annual Report and Financia5 Statements forthe year ended 31° March 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT The charity is a registered Charttsble Incorporated Ooanisation Itharity number 11550211 and is governed by the temis of its constitution. Trustees are appointed by the current tnjstees. Trustees retire by rotation every 3 years and can stsnd for re*lertion 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. When skills gaps are identified by the board, potential new trustees are sought to meet these needs. The rrustee board meets at least 4 times per year, and more often Whe needed. KEY MANAGEMENT PERSONNEL REMUNERATION The trustees consider the board of trustees and the chief executive as comprising the kev management personnel of the charity in charge of directing and controlling the charity and running and operatin8 the charity on a day-to-day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party trnnsattions are disclosed in note 10 to the accounts. Trustees are reqUId to disclose all relevant interests and register them with the CEO and in accordan with the charitys policy withdraw from decisions where a conflict of interest arises. The pay ofthe chariVsCEO and otherstsff is reviewed annually. We pay the communitysupport workers the hourly rate recommended by the VIng Wage Foundation. Page 16
The Prin$5 Project Annual Repon and Finanaal Ststements for the year ended 31" March 2023 REFERENCE AND ADMINISTRATIVE INFORMATION TRUSTEES Jane Negus Chair of Trustee5 Angela Trigg Secretary Steve Ring th Treasurer {trustee until 5 September 20231 Bobbi Ezeike Rev. Phil Goodey (trustee until itr July 2023) Jamieleigh Ma (trustee since 2 November 2023) Leon Milehèm Itrustee since 2( November 20231 Claire Pamberi Itru5tee since 30" October 20231 Jordan Simmons (trustee until 2 March 20231 Joyuba (trustee since 2 November 2023) Helen Williamson Principal Office The Princes5 Projett. Maidstone Community Support Centre, 3948 Marsham Street, Maidstone ME14 IHH Independent Examlner Edward Rands FC4 16 Mill Close, Shepshed. Loughborough, Leicestershire LE12 9UA Principal Banker CAF Bank. 25 Kings Hill Avenue. Kings Hill. West Mallin& Kent ME19 4JQ Page 17
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2023 TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity trustees are responsible for preparing a trustee annual report and financial statement5 in attordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in England and Wales requires the charity trustee5 to prepare financial statements for each year which gNe a true and fair view of the state of affairs of the charity, and of the incoming resources and application of resource5 of the charity for that period. In preparing the financial statements. the trustees are required to-. select suitable accounting policies and then appty them consistently- observe the methods and principles in the applicable Charities SORP.- makejudgements and estimatesthat are reawnable and prudent: state whether applicable accounting stsndards have been followed, subjert to ony material departures that must be disclosed and explained in the financial statements,. and prepare the financial statements on the goin8 concern basis unless it is inappropriate to presvme that the charty 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 charity and to enable them to ensure that the financial Statements Comp with the Charities Act 2011, the applicable Charities (Accounts and Reports) 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 irregularities. The trustees are sPonsible for the maintenance and integrity of the charity and financial inft)rmation included on the charFWs websrte in accordance WFth legislation in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the trustees on 8 January 2024 and signed on their behalf ty. Jane Negus /c l/L,J Chair Pa8e 18
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2023 Independent exarninerfs report to the trustee5 of The Prfncess Projert l port to the charity trustees on my examination of the accounts of the chartty for the year ended 31 March 2023 which are Set out on pages 2(k34. Responsibilities and basis of report As the charitys trustees you are responsible forthe preparation of the accounts in accordance with the requirements of the Charities Act 20111.the AcY}. I report in respect of my examination of thÈ chart5 accounts carried out under section 145 of the Art and in carryin8 Out my examination I have followed all the applicable Directions given by the Charity Commission under section 1451Sllbl of the Act. Independent examlnerfs ststement I have completed my examination. I confirm that no material matters have come to my attention In connertion 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 sertion 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of occounts set out in the Charities IAccounts and Reports) Regulations 2008 other thari any requirement that the accounts give a "true and fair Vie whtch is not a matter considered as part of an independent examination. I have no concerns and have come across no other rnatters in connectÉon wlth the examination to which attention should be drawn in thi5 report in order to enable a proper understanding of the accounts to be reached. 16 Mill Close 5hepshed Loughborough Leicestershire LE12 9UA LL6 Page 19
The Princess Projert Annual Report and Financial Ststements for the year ended 31 March 2023 Statement of Financial Activlties For the year ended 3151 March 2023 Unrestrfcted Restrfcted 2023 2023 Total Unrestrirted Restrlcted 2023 2022 2022 Total 2022 Notes Income from: Donations 37.429 5.016 42,445 62.037 99.466 5,016 62.037 104.482 46,021 3,200 49,221 51,944 97.965 3,200 Other trading activities Total 51,944 101.165 Expenditure on: Raising funds Charitable activtties 4,455 47,170 51,625 4,455 58,011 105.181 58,011 109.636 2,982 17,798 20,780 2,982 82,804 85,786 65,006 65.006 Total Net Movement in Funds 19,180) 4,026 15,1541 Z8,441 (13,062) 15,379 Reconciliation of funds Total funds brought forward 13114 50,045 18,821 68.866 21.604 31,883 53,487 Total funds carried forward 405 22.847 63,712 50,1)45 18.821 68,866 Page 20
The Princess Project Annual Report and Financial Statements forthe year ended 31 March 2023 Balance Sheet As at 31" March 2023 2023 2022 Notes Fixed Asset5 Tan8ible Fixed Assets 334 917 Current Assets Debtors Cash Total Current Assets 1,359 62.169 1,024 67,355 63.528 68.379 Creditors: amounts falling due In one year 150 430 Net Current Assets 63.378 67,949 Net Assets 63,712 Totsl funds of the charlty: Unrestritted Funds Restricted Funds Total Funds 15 40,865 22.847 63,712 50,045 18,821 68.866 Jane Negus Chair Approved bythe Trustees on the 8th January 2024 Steve Ring Treasurer Page 21
The Princess Project Annual Reportand Financial Statements fortheyearended 31 March 2023 Statement of Cash Flows For the year ended 31st March 2023 2023 2022 Net cash (outflow)/inflow from opÈratin8 activities 16 (5,186) 16,510 Investing activities Purchase of tangible fixed assets Increase in cash for theyear (5.186) 16.510 Cash at the start of the year 67.355 50,845 Cash at the end of the year 62.169 67,355 Page 22
The Prince55 Project Annual Report and Flnancial Ststements for the year ended 31" March 2023 Notes to the Accounts For the year ended 31 March 2023 l. Accounting Policies 8asis of prepardtlon and golng concem The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice-. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (second edition- October 20191, the Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland IFRS 1021 (updated March 20181, and the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about the Prlncess Project's ability to continue as a going Concern. Income arises from a combination of donations, grants and fundraising activities. The highest area of cost is aociated with the employment of the Chief Executive Officer ICEOI, project manager and community support workers ICSWSI. The level of reserves necessary to meet these costs and the tontinuing costs of volunteer-led artivities is kept under constant review by the Trustees. In addition, the reserves policy includes amounts to protect the ongoing work of the charity should income levels redu. Income Incorne, including income tax recovered on amounts received by way of Gift Aid, is recognised in ttte Statement of Financial Activities once the charity has entitlement to the resources, it is probable that the reSoUrS will be received and the monetary value of the incoming resour$ can be measured with sufficient reliability. Donated goods and services Incltjded within donations is the estimated value of gifts in kind and goods or Services donated to the charity where the amounts are material. adIlY quantifiable and measurable. Such estimates are based on the market price the charity would otherwise have paid. Liabiltties and expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation as a result of a past event, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured or estimated reliably. All expenditure is accounted for on an accruals basis and has been classified under headings which aggregate all costs related to the category. An amount equal to the donation income recognised on gifts in kind Inot for resale) and goods or service5 received free of charge is included within the m05t relevant category of expenditure to which the donation relates. Total expenditure includes the allocation of support costs to the various expenditure tatègoriÈ% sèt out in the Ststement of Financial Activitie& Support costs have been allocated to activities 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 ottivitie5 are set out in note 5. Page 23
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2023 Grants Grants are reiVed from variou5 funders and a recognised on reIpL Notes to the Accounts (continued) For the year ended 31" Mar¢h 2023 l. Accounting Policies Icontinued) Value added Tax Value added tax is not COVerable by the charity. and as such 15 included in the relevant COSt5 in the Statement of Financial Activttie5. Tangible fixed assets A55et5 are reviewed on an individual basis and capitalised when an ongoin8 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. Equlpment 33% straight line A full yearfs charge is made for the year in which an asset is purchased. No depreciation 15 charged in the year of disposal. Impaimient losses are recogni5ed when the is èn indication of impairment and the asset's recoverable amount is less than its carrytng amount. Accrued Income Accrued income presents the amounts claimed for Gift Aid due on donations received before 31 March 2023 which had not yet been recovered from HMRC. The charity had no trade debtors at 31 March 2023 or 31 March 2022. Cash at bank and in hand Cash includes cash held in the charitys bank accounts and a small amount of petty cash. Accruals and Deferred Incon 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 2023 or31 March 2022. The charlty had no trade creditors at 31 March 2023 or 31 March 2022. Pensions The charity made pension contributions for the employees of the organisation of £1.944 during the year12022.' £1,497). Restricted and Unrestricted Funds Restritted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is charged against that fund. Details of restricted funds are given in note 14. Unrestricted funds are donations and other income received or generated for the objectives of the Charity without further specified purpose and are available as general funds. Page 24
The Princes5 Project Annual Report and Financial Ststements for the year ended 31 March 2023 Notes to the Accounts {continued) For the year ended 31 March 2023 2. Donatlons Total 2023 Total Donations from Individua15 Donations from Organisations Grants Donations of goods and services 17,402 6.123 17,402 6,998 61,162 30,780 2,893 51,944 875 61.162 13,9(M 13.904 12,348 Total Income 37.429 62,37 99,466 97,965 Grants were gratefully received from: Kent County Council Kent Community Foundation- Mums, Hubs People's Health Trust- Park Wood Hub Colyer FerBuson Charitable Trust Involve The Postcode Lottery Medway Voluntary Action Test Bed Fund Kent County Council Covid Reintegration MBC Household SupportGrant MBC Community Resilience Grant CFCT Hardship Fund Cobtree Trust PCPF Souter Charitable Trust Edge Ministries Involve Warrn Welcome Whitehead Monkton Charitable Foundation Total 4,5CNJ 12.5(KJ 12.5(K) 2,224 10.(MXI 10,()xI 5.IJXI 2,5(KI 2,cKx) 20,(XM) 2,51X) 3.668 3,668 7.5(Ki 1,780 1,780 7,120 s.( S.CKKJ 3,6 5.LKK) 5.m) 250 250 5.1)JJ 5.c(x) I0,c io,c 3.(Kti 3,( 1,064 4(M) i.(YJ) i,LXX) 61.162 61,162 51,944 Page 25
The prInsS Project Annual Report and Financial Ststements for the year ended 31 Marth 2023 Notes to the Accounts {continuedl For the year ended 31$1 Marth 2023 3. Income from other trdding actlvitles Total 2023 Totsl 2022 Replication income Various fundraising events Other trading attivities Total Income from other trnding activities 295 2,560 345 4,410 426 4,410 426 5.016 5,016 3.200 4. Costs of raising fuftds Totsl 2023 Total 2022 Staff Costs Promotional Materials Raffle and Auctioft Prizes Miscellaneous Costs Support Costs (note 121 Totsl cost of raising fvnds 1.494 1.494 1.642 2,226 735 2,226 735 631 709 4,455 4,455 2.982 Page 26
The Princess ProjertAnnual Report and Financial Statements for the year ended 31 March 2023 Notes to the Accounts (continued) For the year ended 31" March 2023 S. Costs of Charitable Activities Mum2Mum New Mum Gifts Totcyde Staff Costs Refreshments Giftsfor Mums Resour5 and equipment Christmas Patyj Gifts/Hampers Promotional Materials Totcycle Top-up Grants Rental 8.966 129 747 2,989 so 11.955 203 229 4.366 249 2.708 687 Depreciation Support Costs (note 121 Total costs 367 1.470 5,878 13,504 3,117 738 25,843 Outreath and Events 121 Support Project Replication Totsl 2023 Hubs Total 2022 Staff Costs Refreshments Gifts for Mums Resources and equipment Christma5 Party/ Gifts/Hampers Promotional Materials Totcycle Top-up Grants Rentsl Depreciation Support Costs (note 121 Total costs 2.989 49 16.438 306 4.483 5.977 54.544 42,7( 534 451 1.802 353 746 1.193 1,284 1,267 1,267 677 4.366 249 3.463 20 10.862 130 I3.5 14,780 817 651 1.470 8.082 2.204 2.939 26,819 18,445 5,812 36.564 6.687 8.916 105.181 82,804 £58,011 of the costs of charitable attivities were charged to restritted funds12022- £65.Th)61. Page 27
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2023 Notes to the Atcounts (continued) For the year ended 31 March 2023 6. Net Movement in Funds Net movement in fvnds is stated after charging: Total 2023 Total 2022 Independent Examination Accounting work by Independent Examiner Depreciation of owned fixed assets 892 866 893 867 1,083 1,057 7. Tangible Ftxed Assets Equipment Totsl 2023 Equlpment Total 2022 Costs As at I" April 2022 Additions As at 31" March 2023 4.273 4,273 4,273 Depreclation As at I, April 2022 Charge for the year As at 31" March 2023 3.356 1,083 2.299 1.057 3,356 Net Book Value As at 31° March 2023 334 917 As at 31" March 2022 917 1,974 Paee 28
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2023 Notes to the Account5 (continued) For the year ended 31" March 2023 8. Debtors 2023 2022 Gift Aid Tax recoverable 1,359 1,024 1.359 1,024 9. Cred5tors: amounts falllng due within one year 2023 2022 Actruals Other taxes and social security Other creditors 430 150 Deferred Income (note 9a} 430 9a. Deferred Income 2023 2022 Brought Forward at 1° April 2022 Released In the year Deferred in the year Carried Forward at 31° March 2023 10. Related party transactions None of the Trustees received any remuneration during the year12022- £25.287 for employment of CEO. who was a trustee with charity commission approval but stood down from the board in October 20211. Page 29
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2023 Notes to the Accounts (continued) For the year ended 31" March 2023 li. Staff Costs 2023 2022 Wages and salaries Social 5ecLbrity costs Pension costs 69.964 50.986 2,260 1,497 54,743 1.944 74,717 There were 8 employees during the year12022- 8). The full balance of the Employer's National Insuran Contributions of £2.809 was met by the annual employment allowance. No employee received a salary exceeding £60.(KK) durin8 the year12022- nonel- Page 30
The Princess Project Annual Report and Financial Statements for the year ended 31° March 2023 Notes to the Accounts (continued) For the year ended 31" Marth 2023 12. Support 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-. 2023 2022 Mum2Mum Befriending New Mum Gifts Parenting Courses and Groups Totcycle Outreach Hubs 121 Support Mum2Mum Replication Cost of raising funds 16 4.409 367 3,074 473 473 1,470 5,878 1.470 8,082 2.204 2,939 735 21 4,730 1,182 5,675 1,892 946 29 li 709 27,554 19,154 Support Costs were made up as follows 2023 2022 Staff Costs 18.679 10.401 443 259 603 1.179 937 Printing. Postage and Stationery Volunteers, expenses Website costs Travel Phone anij broadband Office costs Insurance Governance costs 187 293 176 1,019 3.(VJ5 331 2.710 27,554 2.739 534 2,059 19,154 Governance costs include the donated servi$ of the Independent Examinerand the costs of meeting space for board meetings. Page 31
The Princess Project Annual Report and Finantial Statements forthe year ended 31 March 2023 Notes to the Accounts (continued) For the year ended 31" March 2023 13. Unrestrirted Funds 2023 2022 Balance brought forward Net movement in funds 50.045 19.1801 21.604 28,441 Balance carried forward 40.865 $0,045 14. Restrirted Funds Asatl April 2022 Income Expendlture As at 31" March 2023 Edge Ministries Idonationl Colyer Ferguson People'5 Health Trust (Parkwood Hub) Kent Community Foundatlon The Postcode Lottery Medway Voluntary Action Test Bed Fund Kent County Council Covid Reintegration MBC Household Support Grant Involve Totcycle MBC Community Resilience Grant CFcf Hardship Fund Cobtree Trusi PCPF 875 io,(Kx) 875 4.020 491 9,080 491 12,5 4.734 7.459 7.766 7.459 3,168 3,668 6.836 1,780 1,780 4,335 3,289 2,894 789 3,559 250 249 iO,(XM) iO.(KKJ 1.534 1.064 Souter Charitable Trust 1,466 Edge Ministries Igrantl Involve Warm Welcome Whitehead Monkton Charitable Foundation 25 58.011 975 22,847 ,821 62.037 Page 32
The Princess Project Annual Report and Financial Statements for the year ended 315t March 2023 Notes to the Accounts (continued) 5t For theyear ended 31 March 2023 14. Restricted Funds (continued) In April 2022 we received a grant from Maidstone Borough Council's Community Resilience Fund to help us provide baby and toddler essentials to families in need. This income has been applied towards the running costs of this work {namety staff costs) included within charitsble activities ITotcyclel- We received the final instalment of our grant from Kent County Council's Covid Reintegration Fund in April 2022. This funding was for reinte8ration activitie5 forfamilies with young chÉldren and expectant parents Imaidstone and Tonbridge and Malling Mums, Hubs). This income has been applied towards the running costs of the Hubs (including staff costs) included within charitable activities. In July 2022 we received a small grant from Colyer FeUS5O Charitsble Trusys Hardship Fund, to buy a washing machine for a mum tn need. Medway Voluntary Action Test Bed Fund awarded us a grant in September 2022, to part-fund the Mum2Mum befriending service on the Isle of Sheppey and Medway. This income has been applied towards the running costs of Mum2Mum Ispecifi(ally stsff costs) induded within charitsble activities. In October 2022 we were awarded a grant from Cobtree Charity Trust towards our tore work in Maidstone Ispecifically stsffing costs). This income has been applied towards the running costs of our services included within charitable activities. We received a grant from Involve for Totcycle in October 2022. This income has been applied towards the running costs of this work Istaff costs and PLbrchase of Totcycle items) included within charitable artivities. We received grants from Kent Community Foundation in October 2022 and March 2023 towards the running costs of our Mums. Hubs in Medwayi and MaidstoneThonbridge and Malling. This income has been applied towards the running costs of the Hub5 {including rental costs and staff costs) included within tharitable activities. In December 2022 we were awarded a grant from the Philip and Connie Phillips Foundation towards our core work lincluding staffin8 costs}- This income has been applied towards the running costs of our services included within charitable activities. We received a grant from Souter Charitable Trust towards our core work in December 2022. This income has been applied towards the running costs of our services included within charitable attivities. Between January and March 2023 we reiVed fundin8 from Edge Ministries to part fund thè employment of our Chesterfield Community Support Worker. In January 2023 we ¢eNed a grant from Involve/Maldstone Borough Council Warm Welcome Fund to buy insulated travel mugs for use at our Hubs. This income has been applied towards the running costs of our Hubs {resour5 and equipment). Page 33
The Princess ProjettAnnual Report and Financial Statements forthe year ended 31 March 2023 Notes to the Accounts Icontinued) st For theyear ended 31 Marth 2023 14. Restrlcted Funds (continued) Maidstone Borough Council awarded us funding in February 2023 a5 part of the Household Support Grant. This was to provide babyltoddler essentials to families in need, through Totcycle. This income has been used to purchase Totcyde items le_g_ nappie5 and fomiulal for tsmilies. and also been applied toward5 the running costs of Totcyde Istorage and delÉvery costs) included within eh8ritable artivities. In March 2023 we reiVed a grant from Cotyer-Fergus50n Charitsble Trust to expand our core work in Kent. This income has been applled toward5 the runnin8 costs of our service5 included within charitable activities. 15. Analysis of Net Assets between Funds Tangl>le Net Current At 31 Marth Z023 At 31 March 2022 Restricted Funds Unrestricied Funds 22.847 40,531 22,847 40.865 18,821 50,045 334 334 63,378 63,712 68,866 16. Reconallatlon of net rnovement In funds to net 5h flow from operating act7vtties 2023 2022 Net Movement in funds Add back depCiation Less gifts in kind-fixed assets Decrease Èn debtors IDecreasel/lncrease in creditors 15.1541 1,083 {51XJI (335} {2801 15,379 1,057 1751 149 Net cash loutflowllinflowfrom operating activitie5 (5.186) 16,510 Page 34