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← Re:vision North Limited

2024-06-30-accounts

Registered number: 8820018 Charity number: 1156046

RE:VISION NORTH LIMITED (A company limited by guarantee)

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TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

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RE:VISION NORTH LIMITED (A company limited by guarantee)

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CONTENTS

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Page
Reference and administrative details ofthe Company, its Trustees and advisers 1
Trustees’ report 2-11
Independent auditor's report on the financial statements 12-15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notestothefinancialstatements 19-32

RE:VISION NORTH LIMITED (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024

Directors Francess Tagoe
Jonathan Drake (resigned 3 December2023)
Simon Fowler
Darren Cormack (resigned 8 November 2023)
Michael Smith, Vice Chair
Mary Quigg, Chair
Claire Schimmer (resigned 18 October2024)
Shuab Gamote (appointed 22 November 2023)
Victoria Parr (appointed 1 August 2024)
Company registered
number 8820018
Charity registered
number 1156046
Registered office Duckworth House
Talbot Road
Manchester
M32 OFP
Company secretary K Taylor
Independent auditor Crowe U.K. LLP
3rd floor
St Georges House
56 Peter St
Manchester
M2 3NQ
Bankers Royal Bank ofScotland plc
Drummond House
Redheughs Ave
Edinburgh
EH12 9JN
Solicitors Devonshire Solicitors
30 Finsbury Circus,
London
EC2M7DT

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RE:VISION NORTH LIMITED (A company limited by guarantee) SNe —————————————————————————aa. TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2024

Re:vision is the trading name of Re:vision North Limited, which was incorporated as a company limited by guarantee on 18th December 2013 and awarded charitable status on 6th March 2014. The company was established under a Memorandum of Association and is governed under its Articles of Association.

Re:vision North Limited’s sole subscriber is Procure Plus Holdings Limited (PPH).

Objectives and Purpose

Re:vision North Limited’s (Re:vision) objective is the promotion for the public benefit, of urban or rural regeneration usually, but not always, in recognised areas of social and economic deprivation by all or any of[the][following][means][set:]

The charity benefits unemployed and economically disadvantaged groups of people primarily resident in the North West of England, by creating sustainable employment with training with employers that are committed to the long-term development of their employees.

Re:vision’s objective is to benefit individuals distant from the labour market, for whatever reason. This is achieved through equality of opportunity, which in turn provides for a better and more balanced representation in the workforce of the long term unemployed, people in non-traditional gender roles, not in education, employment or training (NEET), people from black and minority ethnic groups, the over 50s, ex-armed forces, ex-offenders and those with a history of homelessness or from the leaving care community.

Re:vision's purpose is met by working closely with employers to ensure that their recruitment and employment practices give training and recruitment opportunities to the beneficiaries that Re:vision seeks to support.

This is achieved by working directly with employers and/or trade organisations to influence and incentivise best practice. It is also achieved by working with community groups, ensuring their engagement with potential employees is of good quality and prepares people effectively for employment.

Re:vision works in partnership with other bodies to help the charity's beneficiaries. In addition, Re:vision supports community-based organisations to be able to secure funding streams. Re:vision also works with training providers to develop suitable courses with the needs of its beneficiaries and employers in mind.

Through its work with employers, training providers and beneficiaries, Re:vision creates bespoke training provision through new and innovative training solutions.

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

In order to facilitate the recruitment of distant from the labour market candidates, Re:vision ensures that there are connections with, and funds provided to, community groups and their centres, some of which is required for upkeep and maintenance oftheir operating bases. Re:vision’s role is to support other organisations via grants, training and the sharing of best practice. Re:vision has a contract with service and training providers and employers and ensures that each of these organisations has suitable health and safety policies and practices.

The Trustees have referred to the guidance in the Charity Commission’s general guidance on public benefit when reviewing Re:vision aims and objectives and in planning its future activities.

Re:vision supports projects that match our charitable objectives and priorities to regenerate communities by providing opportunities for training, work experience and employment. The Trustees consider each bid for funding to ensure that it is clear who will benefit from the identified funds, the role of the charity within that delivery and the expected consequential impact, to ensure that all funds are in pursuance of the charity objectives and deliver public measurable benefit, referred to in our objects.

Re:vision’s activities deliver public benefit by reducing the cost to the public purse of those economically inactive and by generally improving the fabric and social cohesion of neighbourhoods, through ensuring equality of opportunity for a more diverse and inclusive workforce, realising social benefits such as reducing crime by rehabilitating ex-offenders, enhancing the skills in the workplace, and supporting volunteering inputs that enhance wellbeing and community cohesion.

Achievements and Performance

In this period of operation Re:vision has produced accounts for the 12 months ending June 2024.

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A total of 50 projects were approved which included funding for 31 delivery partners (DPs) that Re:vision had
previously worked with and 4 new organisations. The total value of these projects was £611k.
People into employment es
% EC
of people from priority group into 94
employment
% of those employed retained for 99
minimum of six months
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RE:VISION NORTH LIMITED (A company limited by guarantee)

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TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
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Priority Group definitions

Priority Group
Candidates who havea criminal record. This includes spent convictions.
PFEMB People from ethnic minority backgrounds.
Lafig tein Lnempleyes
(6 months plus)		 Candidates who have been out ofemployment forover 6 months, any age.
NEET (16-24) Candidates aged 16-24who have not been in education, employment, or
3 months’ plus training for over 3 months.
This is split into
3 main categories;
e
Women into construction (trade) —women going into a trade
role i.e. plumbing, electrical, joinery, etc.
e
Women into construction (general) —women going into non-
Non-traditional roles (i.e. women into trade roles such as administration or technical apprenticeships but
construction) within a construction setting.
e
Non-traditional gender into roles— forexample men into care
work or nursing and women into engineering roles which do not fall
under construction.
Disabilit
y		 Candidates who identify themselves as having a disability eitherphysical or
mental.
50 plus Candidates aged over 50 years old.
Hist
Fhomel
ee		 Candidates who have at some point been homeless. This does not have to be
street homeless and can include sofa surfer/ ofno fixed abode.
In care/ care leaver Candidateswho are either currently a “looked after child” i.e. those in the care
:
.
.
of their local authority or have been in the past.
ay
‘
Militaryserviceleaver		 Candidates who have spent time in the armed forces i.e. army, naw, air force,
etc

Activities

Funding for local delivery partners

Re:vision commissions community based organisations to deliver employment outcomes with a focus on the priority groups Re:vision wants to support. These organisations provide employment and skills-related schemes or services, but often provide a broad spectrum of support, not just employability, recognising the breadth of barriers and journey to employment that those most distant from the labour market face.

Re:vision actively searches for organisations that engage with its priority groups. These local employment groups are that are most often located in or serve deprived estates where there is a high proportion of social housing, or serve communities living in those estates. Re:vision makes a payment once an outcome is achieved, but this payment is in recognition of a myriad of support and engagement required to move someone distant from the labour market into employment

As Re:vision works with delivery partners (DPs) operating in some of the most deprived areas. It’s support for the services they provide is crucial, even more so as the sector continues to experience cuts to funding. This will continue until we see improvements to the economy when more funding should be made available from local

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RE:VISION NORTH LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

and national government. Without the funding from Revision these organisations would have needed to significantly reduce the capacity of the services provided and may have had been forced to reduce their staff numbers further.

Re:vision changed its grant payment structure in 2023-2024 as a pilot for 12 months. Delivery partners now receive all of the funding for an employment outcome when the individual enters employment, whereas the payment has previously been split with half received at week 26 of employment. This was welcomed by all DPs and has ensured they are able to continue to retain their service and support local people. Delivery and retention have continued to be of the highest standard and this grant payment structure will continue.

Re:vision construction courses

Re:vision has again commissioned a series of construction courses (Health & Safety Level 1 and CSCS card, Working at heights. Manual Handling course types, COTS, Roofing) in specific areas where funding was unavailable to ensure that candidates needing entry level and specific training could secure employment in construction. This enabled Re:vision to maintain relationships with employers and ensure the DPs continued to access free training for their candidates and remain active and visible within the construction sector until future funded training is secured. The courses have enabled 21 people to secure employment.

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Targeted Delivery Pathways and Volunteering

History of Homelessness, Care Experience and candidates facing multiple barriers.

Re:vision has continued its work with DPs who support candidates from the targeted delivery pathways who are most distant from the labour market, with significant barriers to employment and who need more support than some of the other Re:vision priority groups.

Re:vision is now beginning to widen this workstream to support other diverse groups. In particular, it has been focusing on young people that have been excluded from mainstream education and are in greatest danger of becoming NEET. Re:vision has made grant funding available for innovative and meaningful projects which will address some of the challenges and support sustainable and positive change for these individuals. Funded projects will either deliver activities and outcomes directly, or develop capacity to deliver activities.

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These projects will be carefully monitored throughout their delivery period and evaluated at the end to ensure that the funding is having the expected impact. Learning from these projects will support our future funding plans.

Women and Manual Trades (WaMT)

Re:vision continues to promote and advocate for women entering the construction sector via the Women and Manual Trades (WaMT) brand, and to work with employers who want to recruit women.

Re:vision encourages DPs to promote the construction sector to the women that they work with by raising awareness of construction training opportunities, recruitment events, and the PPH framework trade positions. Women referred into any of these opportunities, and women approaching directly for support getting into construction, are managed through one point of contact. Through its relationship with its parent organisation, Re:vision has been able to encourage and support contractors to emply women in apprenticeship postions. In the period 2023 to 2024, building trade roles, making up 3.4% of the "on the tools" positions; this is considerably higher than the industry standard (less than 2%).

The success of the WaMT 3:2 project has continued during the year. The initative supports women who have alreadty signed up to either a diploma or T-levels at college to gain paid employment placements for two days each week when not required to attend college. Often women are less successful at gaining employment in the industry compared to their male counterparts and having some work experience alongside their qualification

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i RE:VISION NORTH LIMITED (A company limited by guarantee)

i TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

ee

increases their prospects for finding a job once qualified. This has resulted in an increase of women working within our parent company's framework contractors. Given its success and the positive feedback from participants, we are now exploring ways to expand the initative.

WaMT organised an event in November 2023 in Manchester, aimed at female construction students and other local women wanting to start a career in construction. Those attending were able to meet contracts to fnd out about jobs in the industry, and to hear from tradeswomen role models, and several local college students have been placed via the 3:2 project.

WaMTs' work with HMP Styal has continued to be successful and several women have been able to secure employment following training sessions run at the prison. The work has been brought to the attention of City and Guilds who, through their foundation trust, have invested funding to create a construction hib to enable this work to continue and provide continued training for many more women. WaMT continues to support the project.

Future Plans

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

Structure, governance and management

The directors of the company are also trustees of the charity or the purposes of charity law. During the reporting period to 30 June 2024, they were:

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Appointed
Appointed by the Sole Subscriber Board
Simon Fowler '
Appointed by the Board of Trustees
Darren Cormack 8" November 2023
Jonathan Drake 3° December 2023
Shuab Gamote 22™ November 2023
Victoria Parr 1°' August 2024
Michael Smith (Vice Chair)
Frances Tagoe
Mary Quigg’ (Chair)
Claire Schimmer 18" October 2024
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1 Director of the Sole Subscriber

Trustee appointments are for a fixed term of no longer than 3 years. If a Trustee has completed 9 years’ continuous service on the board of the charity, they shall not be eligible for re-appointment for at least 12 months. Two Trustees have stepped down from the Re:vision Board at the end of a third term of office. e Darren Cormack on 8" November 2023

Claire Schimmer stepped down from the Re:vision Board at the end of her second Term of office in October 2024.

As the Sole Subscriber, the Parent Board can appoint or remove Trustees. One of the Trustees is the Chairman of the Parent.

Mary Quigg and Claire Schimmer joined the Re:vision Board following the merger of Women and Manual Trades with Re:vision North on 1% July 2020.

The Trustees have taken responsibility for recruiting the remaining Trustees. Appointments made by the Board of Trustees require the written consent of the sole subscriber. Shuab Gamote was appointed following participation in a 12-month Trustee Development Programme on 224 November 2023.

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

6 sss... —————————————————————————————————a TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 ee

The Trustees do not receive any remuneration or benefits from the Charity.

The Board meets formally on a quarterly basis to review performance against targets; monitor the financial position and consider bids for approval. The Board meets on a face-to-face basis, but Trustees can join the meeting virtually if necessary.

Certain activities have been delegated to sub-groups of two or more trustees. The Board has established a Grant Making Committee to consider bids for specialist projects that need to be considered outside of the usual Board cycle. The Trustees are also able to delegate activities to the Group Audit Committee and the Group People Committee.

The Board holds an annual strategy day annually each year in November. The Board is participating in a Board Evaluation exercise facilitated by the IOD in 2024.

Declarations of Interest are sought from the Trustees on appointment, at each meeting and on an annual basis.

No offers of gifts or hospitality were received by the Trustees in 2023-2024. The gifts and hospitality register is reviewed annually by the Board.

Re:vision has previously benchmarked itself against the Charity Governance Code from a best practice point of view to inform continuous improvement and found it had broadly applied the recommended practice where it was applicable, some areas for improvement were identified and actions agreed. This exercise will be refreshed in 2024.

Trustee Induction and training

New Trustees joining receive an email with links to key documents held in a SharePoint site such as constitutional documentation, policies and procedures, past minutes and papers and Charity Commission guidance notes. Trustees are also invited to a series of induction meetings to help them understand the organization and their roles and responsibilities as Trustees. Trustees are also encouraged to visit a Local Employment Group to develop an understanding of the organisations that Re:vision funds. Webinars and conferences provided by Crowe are also highlighted and recommended to Trustees as well as the ICAEW training modules.

Board Diversity

The Re:vision Board recognises the value of having a board with a diversity of background and experiences, enhancing board effectiveness by bringing a wider range of knowledge and perspectives. The Board reviews its own make up as part of the succession planning process, when a vacancy arises and at each Board Effectiveness Review so that any search activities can be specifically directed at addressing any identified imbalances.

The Re:vision Board is well balanced on gender, with three female Trustees and three male Trustees. The more traditional business skills are well represented on the Board, but the Board ensures that it reviews this skill mix on a regular basis.

The Board wants to ensure that the needs of those groups that it seeks to support are appropriately represented on its Board. It encourages applications from underrepresented groups on the Board and has a Trustee Development Programme, to provide opportunities to younger people and individuals with lived experience.

Risk Management

The Trustees have established a risk register which the Board reviews at the end of each Board meeting.

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RE:VISION NORTH LIMITED

(A company limited by guarantee) |eEESSS TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 The Trustees have given consideration to the major risks to which the Charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.

e Loss of personal data - Re:vision has data sharing agreements in place with partners and provides training for all staff. PPH is Cyber Essentials Certified and its systems are annually tested for improvements to security. A new system for storing personal data will be implemented in 2024 that will improve data security. The Group system of internal control is based on an ongoing process designed to identify, evaluate and manage any significant risks faced by the organisation. Third party assurance is gained from organisations with specialist expertise. More generally the Group has a strong and open culture and is committed to a process of continuous development and improvement. The internal control system is reviewed on an annual basis and a Statement made to the Audit Committee on its effectiveness

Management

The administration, operational management and delivery of Re:vision’s activity have been delegated by the Trustees to PPH, under the terms of an Inter-Group Relationship Agreement and SLA. The performance of PPH in delivering this service is reviewed annually by the Trustees. A fundamental review of the terms of the agreement including service, performance standards and costs will also take place every 5 years (the first review was undertaken in November 2019 with the new agreement effective from 10th March 2020). The Trustees commissioned an audit to review value for money of the service to inform review of the agreement in 2024.

The Social Value Team within Procure Plus has been delegated authority by the Trustees to approve bids of up to £50k (per organisation, in aggregate in any one financial year) provided the bids meet the Charity's objectives and approval criteria agreed by the Board. All bids approved in this way are reported to the Board at the following meeting. Bids over £50k, including those that take the aggregate per organisations above £50k, are brought to the Trustees for consideration.

Re:vision does not directly employ staff, with all officers being seconded from PPH (the Sole Subscriber).

Financial Performance

The Statement of Financial Activities is set out on page 16 and showsa surplus of £1,036,845 (2023: £350,470) on total income received of £1,537,315 (2023: £300.658).

The sole subscriber, Procure Plus Holdings Limited, remains the company’s principal source of funding.

Investment Policy

As it is the intention to spend funds within 12 months of being received, the Charity’s policy is to maintain assets in cash or near cash investments, on deposits for periods not exceeding 6 months. Institutions with which deposits are placed should have a short-term rating of at least Moody's P2, or equivalent.

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RE:VISION NORTH LIMITED (A company limited by guarantee)

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ss. TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

There is no formal investment return target, and the return achieved of £50,827 (2023: £55,655) during the period is considered to be a satisfactory performance.

Reserves policy

The Trustees’ policy is not to let Reserves fall below £150,000, to cover contingencies set out in the Risk Register. The policy is subject to annual review. Reserves have increased this year, and the plan is to use these reserves over the next few years to help promote and achieve Re:vision’s charitable goals.

The actual level of reserves held at the year-end totalled £1,036,845, of which £984,316 were unrestricted funds and £52,529 restricted.

Trustees’ Responsibilities Statement

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial 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 these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware at the time of approving our trustees’ annual report:

In preparing this report, the trustees, who are also directors of the charitable company, have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by order of the members of the board of Trustees and signed on their behalf by:

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RE:VISION NORTH LIMITED (A company limited by guarantee)

(SSSSSS EE SSS TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

a GA Mary Quigg (Chair of Trustees) Datete: A+| s\ as ,

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

nee sessed INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RE:VISION NORTH LIMITED

Opinion

We have audited the financial statements of Re:Vision North Limited (the ‘charitable company’) for the year ended 30 June 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of[the][charitable][company][in][accordance] with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

ee ....____.__| | n———Ee a, INDEPENDENT AUDITOR'S AUDITOR'S REPORT TO THE TO THE THE MEMBERS OF RE:VISION NORTH LIMITED (CONTINUED)

ee ....____.__| | n———Ee a, INDEPENDENT AUDITOR'S AUDITOR'S REPORT TO THE TO THE THE MEMBERS OF RE:VISION NORTH LIMITED (CONTINUED) vnvm nn en rE Se ee

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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RE:VISION NORTH LIMITED (A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RE:VISION NORTH LIMITED (CONTINUED)

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, Charities Act 2011 and Taxation legislation.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience, through discussions with management, and from inspections of the Groups board minutes and legal and regulatory correspondence.

We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur, by meeting with management from relevant parts of the business to understand where management considered there was a susceptibility to fraud. We also considered the potential for management to manage earnings and influence the perceptions of[the][financial][statements.]

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, payroll cost and the override of controls by management.

Audit procedures performed by the engagement team included:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the lesslikely we are to become aware of it.

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RE:VISION NORTH LIMITED (CONTINUED)

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

These inherant limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion of the provision of international misrepresentations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Vv[Oe statutory auditor)

for and on behalf of Crowe U.K. LLP Statutory Auditor 3rd floor St Georges House 56 Peter St Manchester M2 3NQ Date: (2th Morn 225

Crowe U.K. LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024

Restricted Unrestricted Total Total
funds funds funds funds
2024 2024 2024 2023
Note £ £ £ £
Income from:
Donations and legacies 3 - 1,500,000 1,500,000 225,000
Charitable activities 4 - 6,488 6,488 20,003
Investments 5 - 50,827 50,827 55,655
Total income - 1,557,315 1,557,315 300,658
Expenditure on:
Charitable activities 7 500 870,440 870,940 731,149
Total expenditure 500 870,440 870,940 731,149
Net movement in funds (500) 686,875 686,375 (430,497)
Reconciliation of funds: '
Total funds brought forward 53,029 297,441 350,470 780,961
Net movement in funds (500) 686,875 686,375 (430,497)
Totalfundscarriedforward 52,529 984,316 1,036,845 350,470

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 19 to 32 form part of these financial statements.

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RE:VISION NORTH LIMITED

(A company limited by guarantee) REGISTERED NUMBER: 8820018

eee eee eee eee
BALANCE SHEET
AS AT 30 JUNE 2024
2024 2023
Note £ £
Current assets
Debtors 14 400,000 906,958
Cash at bank and in hand 1,016,835 169,637
1,416,835 1,076,595
Creditors: amounts falling due within one
year 15 (379,990) (726, 125)
Net current assets 1,036,845 350,470
Total assets less current liabilities 1,036,845 350,470
Total net assets 1,036,845 350,470
Charity funds
Restricted funds 17 52,529 53,029
Unrestricted funds 17 984,316 297,441
Totalfunds 1,036,845 350,470

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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The financial state ‘ere approved and authorised for issue by the Trustees and signed on their behalf by:
oo, ~ Z
Ma gg . aE
(Chair of Trustees)
Date: 4{3\Qe ,
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The notes on pages 19 to 32 form part of these financial statements.

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ne
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RE:VISION NORTH LIMITED (A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024

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2024 2023
£ £
Cash flows from operating activities
Net cash used in operating activities 796,371 (222,208)
Cash flows from investing activities
Interest receivable 50,827 55,655
Net cash provided by investing activities 50,827 55,655
Change in cash and cash equivalents in the year 847,198 (166,553)
Cash and cash equivalents at the beginning of the year 169,637 336,190
Cash and cash equivalents at the end of the year 1,016,835 169,637
The notes on pages 19 to 32 form part of these financial statements
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RE:VISION NORTH LIMITED (A company limited by guarantee)

el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ee 1. General information

Re:vision North Limited, company number 8820018, is incorporated in England and Wales and limited by guarantee. It is a registered charity, number 1156046. The registered office address is:

Duckworth House Lancastrian Office Centre Talbot Road Manchester M32 OFP

  1. Accounting policies

  2. 2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Re:vision North Limited (Re:vision) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

In the opinion of the Trustees, there are no critical estimates or judgements included in the financial statements.

The Trustees have received confirmation from the sole subscriber Procure Plus Holdings Limited, that it is the current intention that it will continue to provide financial support to finance the charitable company’ operations for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Re:vision is largely funded by companies within the Procure Plus Holdings Group, which operates exclusively in the UK. As a result, the Trustees of Revision do not anticipate any shortfalls in its income below planned levels.

Procure Plus provided £1.5m gift aid support to Re:vision during the period. Procure Plus anticipates it will continue to gift aid significant sums to Re:vision now that the sale of OSCO is completed.

The Trustees consider therefore that the Company can continue to operate as a going concern and the accounts have therefore been prepared on a going concern basis.

2.3 Income All incoming resources are included in the Statement of Financial Activities when the charitable company has entitlement to the funds, probability of receipt and the amount can be measured with sufficient reliability Other income is recognised in the period in which it is receivable and, to the extent the goods have been provided or on completion of the service, has entitlement to the income. NN —— Page 19

RE:VISION NORTH LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT, where applicable.

2.5 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

se

——————_—_______Imn:n:n»n:nEnEnTTEEETTITETTETTEEERETEETEEITETTEREETETEREETEEEEREREEEEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

2. Accounting policies (continued)

2.8 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

NN Page 21

RE:VISION NORTH LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

3. Income from donations and legacies

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Procure Plus Holdings Limited 1,500,000 1,500,000 200,000
Reallies Limited - - 25,000
1,500,000 1,500,000 225,000
Total 2023 225,000 225,000
4. Income from charitable activities
Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ pay
Income from social value activities 6,488 6,488 20,003
Total 2023 20,003 20,003
5. Investment income
Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Interest receivable 50,827 50,827 55,655
Total2023 55,655 55,655

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RE:VISION NORTH LIMITED (A company limited by guarantee)

a LL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

  1. Analysis of expenditure by expenditure type
Restricted Unrestricted Total Total
funds funds funds funds
2024 2024 2024 2023
£ £ £ £
Charitable Grants - 498,400 498,400 405,000
Other costs 500 356,350 356,850 311,269
Expenditure on governance - 15,690 15,690 14,880
Total 2024 500 870,440 870,940 731,149
Total2023 11,500 719,649 731,149

7. Analysis of expenditure on charitable activities Summary by fund type

Restricted Unrestricted
funds funds Total Total
2024 2024 2024 2023
£ £ £ £
Direct costs 500 870,440 870,940 731,149
Total2023 11,500 719,649 731,149

i Page 23

(A company limited by guarantee)

RE:VISION NORTH LIMITED

a NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

8. Charitable grants

2024 2023
£ a
Upturn 54,100 18,000
Inside Connections 51,000 8,000
Yes Project 45,000 62,000
Broughton Trust 45,000 34,000
New Ground 32,000 -
Inclusive Training Solutions 28,000 -
Power in Partnership 26,000 -
Tree of Life 24,000 9,000
Cheshire Learning Partnership 24,000 8,000
Youth Fed 20,000 -
Jewel 18,000 13,000
Conwy Employment 17,000 9,000
Smart Works 16,000 -
Barlow Moor 16,000 12,000
Dovewell Training 15,100 -
Volition 14,000 26,000
L14 Community 14,000 6,000
North Yorkshire Sport 10,000 -
Working Denbighshire 10,000 -
B4 Box 9,000 6,000
We Mind The Gap 8,000 18,000
Home to Work 8,000 16,000
Refugees & Mentors 8,000 8,000
Liverpool in Work 6,000 16,000
Positive Steps 6,000 8,000
Salvation Army 6,000 8,000
Right Resolution 6,000 -
Transform Lives 6,000 -
Communities forWork 5,000 (2,000)
EmbassyVillage 2,000 10,000
Goodwill (800) 10,000
St Lukes (1,000) -
Wigan Youth Zone (3,000) 16,000
YourOwn Place (4,000) 4,000
St Georges Crypt (5,000) -
Inspira (6,000) (3,000)
Humankind (7,000) 16,000

Page 24

RE:VISION NORTH LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

Manchester Youth Zone (8,000) 8,000
LTEN (8,000) 8,000
Birchwood Centre (8,000) 6,000
Back on Track - 16,000
CHIC Midlands - 11,500
Bolton at Home - 10,000
Calico - 7,000
Diverse - 3,000
The Message - 3,000
Give Get Go - (1,000)
RCS Wales - (2,500)
Totalgrantsmadetopromotecharitableaims 498,400 405,000

All of these grants had for purpose the relief of unemployment and the provision oftraining and employment opportunities. Grant commitments are usually made for a period of up to 12 months.

  1. Expenditure on governance
Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Governance Auditors’ remuneration 15,690 15,690 14,880
Total 2023 14,880 14,880
Other charitable costs
Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Direct charitable costs 308,279 308,279 256,123
Overhead support 47,367 47,367 54,000
Other administration costs 1,304 1,304 1,146
356,950 356,950 311,269

10. Other charitable costs

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

eee eee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

11. Analysis of expenditure by activities

Activities
undertaken
directly		 Grant
funding of
activities		 Support
costs		 Total
funds		 Total
funds
2024 2024 2024 2024 2023
£ £ £ £ £
Direct costs 308,279 498,400 64,261 870,940 731,149
Total2023 256,123 405,000 70,026 731,149

12. Auditor's remuneration

2024 2023
£ £
Fees payable to the Company's auditor for the audit ofthe Company's
annual accounts 11,280 10,680
Fees payable to the Company's auditor in respect of:
Allnon-auditservicesnotincludedabove 4,410 4,200

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 30 June 2024, no Trustee expenses have been incurred (2023 - £NIL).

14. Debtors

2024 2023
£ £
Due within one year
Trade debtors - 6,958
Amounts owed by group undertakings 400,000 900,000
400,000 906,958

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i

RE:VISION NORTH LIMITED (A company limited by guarantee)

SNe

ees,

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

een ee

15. Creditors: Amounts falling due within one year

2024 2023
£ £
Trade creditors 50,000 15,000
Amounts owed to group undertakings - 300,000
Other creditors - 745
Accruals and deferred income 329,990 410,380
379,990 726,125

16. Financial instruments

2024 2023
£ £
Financial assets
Financial assets measured at cost 1,416,835 1,076,595
2024 2023
£ £
Financial liabilities
Financial liabilitiesmeasuredatcost 379,990 725,380

Financial assets measured at cost comprise cash and cash equivalents, trade debtors and amounts owed by group debtors.

Financial liabilities measured at cost comprise trade creditors, accrued expenses and amounts owing to group creditors.

a Page 27

RE:VISION NORTH LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

  1. Statement of funds

Statement of funds - current year

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||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|1|30|June| |July|2023|Income|Expenditure|2024| |£|£|£|£| |Unrestricted|funds| |General|Fund|297,441|1,557,315|(870,440)|984,316| |Restricted|funds| |Cumbria|Restricted|Fund|3,033|-|-|3,033| |Women|and|Manual|Trades|34,563|-|(500)|34,063| |Midlands|Social|Value|Fund|15,433|-|-|15,433| |53,029|-|(500)|52,529| |Total|of funds|350,470|1,557,315|(870,940)|1,036,845| |Statement|of funds|-|prior year| |Balance|at| |Balance|at|30|June| |1|July|2022|Income|Expenditure|2023| |£|£|£|£| |Unrestricted|funds| |General|Fund|716,432|300, 658|(719,649)|297,441| |Restricted|funds| |Cumbria|Restricted|Fund|3,033|-|-|3,033| |Women|and|Manual|Trades|34,563|-|-|34,563| |Midlands|Social|Value|Fund|26,933|-|(11,500)|15,433| |64,529|-|(11,500)|53,029| |Total|of funds|780,961|300,658|(731,149)|350,470|

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RE:VISION NORTH LIMITED

(A company limited by guarantee)

_———

ene NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

18. Analysis of net assets between funds

Analysis of net assets between funds - current period

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|||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |Restricted|Unrestricted|Total| |funds|funds|funds| |2024|2024|2024| |£|£|£| |Current|assets|52,529|1,364,306|1,416,835| |Creditors|due|within|one|year|-|(379,990)|(379,990)| |Total|52,529|984,316|1,036,845| |Analysis|of net assets|between|funds-|prior|period| |Restricted|Unrestricted|Total| |funds|funds|funds| |2023|2023|2023| |£|£|£| |Current|assets|53,029|1,023,566|1,076,595| |Creditors|due|within|one|year|-|(726,125)|(726,|125)| |Total|53,029|297,441|350,470| |Reconciliation|of|net|movement|in|funds|to|net|cash|flow|from|operating|activities| |2024|2023| |£|£| |Net|income/expenditure|for the|period|(as|per Statement|of|Financial| |Activities)|686,375|(430,491)| |Adjustments|for:| |Interest|received|(50,827)|(55,655)| |Decrease|in|debtors|506,958|95,135| |Increase/(decrease)|in|creditors|(346,135)|168,803| |Net cash|provided|by/(used|in)|operating|activities|796,371|(222,208)|

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  1. Reconciliation of net movement in funds to net cash flow from operating activities

a.<<< Page 29

RE:VISION NORTH LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

20. Analysis of cash and cash equivalents

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|||||||||| |---|---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Cash|in|hand|1,016,835|169,637| |Analysis|of changes changes|in|net|debt| |At|1|July|At|30|June| |2023|Cash|flows|2024| |£|£|£| |Cash|at|bank|and|in|hand|169,637|847,198|1,016,835|

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21. Analysis of changes changes in net debt

Cash at bank and in hand

22. Related party transactions

Newground CIC becamea related party in 2018 due to the fact that the Re:vision Board member Michael Smith is also the managing director ofthat[entity.]

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||||||||| |---|---|---|---|---|---|---|---| |2024|2023| |£|£| |Opening|balance|owed|to|related|party|(41,000)|(101,000)| |Accrual|movement|during|the|year|(1,000)|65,000| |Amounts|invoiced|by|related|party|(31,000)|(65,000)| |Funds|Paid|to|related|party|38,000|60,000| |(35,000)|(41,000)|

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Michael Smith does not participate in the Re:vision Board decision making on the issuing of funding to Newground CIC to prevent any conflict of interest. During the year ended 30 June 2024, £35k was newly committed to Newground CIC (2023: £48k).

Page 30

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a

RE:VISION NORTH LIMITED

(A company limited by guarantee)

emacs, NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

i

Tree of Life became a related party in 2023 due to the fact that the Re:vision Board member Francess Tagoe is also the CEO of that entity.

2024 2023
£ £
Opening balance owed to related party (10,000) (2,000)
Accrual movement during the year (5,000) (8,000)
Amounts invoiced by related party (19,000) (1,000)
Funds Paid to related party 19,000 1,000
(15,000) (10,000)

Francess Tagoe does not participate in the Re:vision Board decision making on the issuing of funding to Tree of Life to prevent conflict of interest. During the year ended 30 June 2024, £25k was newly committed to Tree of life (2023: £10k).

Embassy Village becamea related party in 2024 due to the fact that Re:vision Board member Mary Quigg acts as a critical advisor to that entity.

2024
£
Opening balanceowed to related party (8,000)
Accrual movement during the year 6,000
Amounts invoiced by related party (8,000)
Fundspaidtorelatedparty 10,000

Mary Quigg does not participate in the Re:vision Board decision making on the issuing of funding to the Embassy Village to prevent any conflict of interest. During the year ended 30 June 2024, £3k was newly committed to Embasssy Village (2023: £10k).

There were no other related party transactions.

23. Sole subscriber

The company's sole subscriber is Procure Plus Holdings Limited (Company Number: 05888820). The principal purpose of Procure Plus Holdings Limited is to operate as a consortium of social housing providers for mutual benefit.

NN Page 31

RE:VISION NORTH LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

24. Company limited by guarantee

The company is incorporated under the Companies Act 2006 and is limited by guarantee.

Page 32