Reglstered number: 10978174 Charity number- 1175826 RED BALLOON LEARNER CENTRE CAMBRIDGE (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) CONTENTS Page Reference and administrative details of the charity, its Trustees and advisers Trustees. report Indep•nd•nt auditors. report on th• finan¢ial statements 9-13 Statement of financial activities 14 Balance sheet 15 ststement of cash flows 16 Notes to the financial statements 17-32
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Trustees Miss Jane Green (appointed 6 January 20251 Mrs Judilh Haste Mr Peter Law Mrs Kathleen Mcguire Iresiqned 9 January 20251 Mr Mark Patterson Ms Lesley Sleinitz (resigned 22 November 20231 Mr lan Swain (resigned 27 November 2024} Company regislored number 10978174 Charity gIstered number 1175826 Registered office 4244 High Street Milton Cambridgeshi CB24 6DF Coordinator Ms Jessica Lechner Independenl auditors Lakin Rose Limited Chartered Accountants Statutory Auditors Cambridge House Camboro Business Park Girton Cambridge CB3 OQH Page 1
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their annual report together with the audited financial statements of the Red Balloon Leamer Centre Cambridge for Ihe year 1 September 2023 to 31 August 2024. The annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confim) that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable companls governing document and the provisions of the Statement of Recommended Practice ISORPI applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iland IFRS1021 (effective 1 January 20191. Since the charity qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 Islralegic Report and Direclors, Report) Regulations 2013 has been omrtted. Obj•¢tive$ and activities Pollcles and objectlves The objects of the charity are sel out in the Articles of Associalion registered at Companies House on 23rd September 2017. o advance the education of children aged 7 to 19 at the Red Balloon Leamer Cenlre. being students who are the victims of bullying. or by reason of other emotional trauma or illness, are for the lime being unable to attend mainstream schools, including, bul not limrted to, providing them with tuition and appropriate face-lo-face and on-line support in a safe leaming environment until they are ready lo return to mainstream education or lake up training or employjment." We achieve our objects through the provision of an 'intensive care, full lime education and support programme. Therapy and counselling are offered lo students and families. Continuing use is made of volunteers lo work with students. All volunteers have enhanced DBS checks. In setting objectives and planning for activities. the Trustees have given due consideration to gener81 guidance published by the Charity Commission relating lo public benefit. including the guidance 'Public benefit.. running a charity IPB2}'. b. Main a¢tivitie$ undortaken to further tho charItS purposos for the public benefit The charity provides full-time education for children who self-exclude from school. There is no other purpose- made scheme to support the recovery of this group of children and lo give them their 'life' back. Another important aspect of Ihe work that the charity does is to offer support lo the parents and carers of these children. c. Management The trustees. in consultation with the Coordinator. make decisions about staffing. budgeting and performance reviews. Trustees. directors and consultants of Red Balloon Educational Trust with specialist knowledge may be consulted about employment and other human resource issues. Trustees work lo raise local awareness of the needs of children who have been so badly bullied or suffer from severe emotion81 trauma or mental health issues that they cannot attend mainstream school. The aim is to draw attention lo Ihe fact Ihal such children should be provided with full lime educalion. Page 2
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 A¢hievoments and porfornian¢o a. Main a¢hiov•m•nt$ of the charlty The Twstees are satisfied with the performance of the charity during the year ended 31st August 2024. The objectives of the charity are only achieved through the skill. hard work and dedication of the staff and volunteers at Red Balloon Learner Cenlre, Cambridge and as trustees we are indebted lo the team. Achievement and performance at Red Balloon Learner Cenlre. Cambridge are measured by the increase in self-esleem and confidence of each of the students. their ability lo hold their own in the wider world and their understanding of themselves and others. as well as through academic progress and results. The last few years have been a time of growih and expansion for Red Balloon Leamer Cenlre, Cambridge. In September 2020 we were able lo open a second centre in Cambridge. The successful opening of the second centre allowed us lo double the amount of places that we are able lo offer lo students each year. Since then we have built a cohesive community between the Iwo buildings with a 'one cenlre, approach, although the operation of two separate buildings was not without ils challenges. Therefore, we have also been seeking a single larger premises for the Centre. and we are delighted to have achieved this with the move into our new building at 42144 High Street. Milton. The bulk of Ihe work leading up to the move took place in 2023124. Staff and Trustees worked together on Ihis project, culminating in Ihe signing of a 15-year lease agreement commencing April 2024. The move itself took place during the Summer vacation and the Centre was ready to open for the new academic year in September. Staff, students, parents and carers have all expressed their enthusiasm for the new location in a single consolidated site. Once again we have been able lo modesuy increase our capacity. To help towards the costs of the move we were able to secure additional funding from the PA Foundation 1£20.000 towards the costs of the creation of the science laboraloryl and the Screwfix Foundation (£5,000 towards the costs of the kitchen). The remaining costs were covered from unrestricted funding and income. In the new centre, we remain as strongly committed as ever lo offering a wide range of curriculum subjects to all students. These include English.Maths, Science. Humanities. Art, Music, Media, Drama, Languages (including British Sign Language). PE Iwilh support from The Leys school). ICT. Life Skills and Citizenship. In addition to offering GCSES, we have a range of qualifications, including Unit Awards and project qualifications lo motivate and recognise those students who thrive in vocational and practical areas. In addition we are able to offer LAMDA exams and ASDAN training. b. ISI Inspection - July 2024 In July 2024. we were inspected by the Independenl Schools Inspeclorale {ISII. This was a Material change inspection due lo the move lo the new Milton centre and increase in student capacity. We are very pleased that the inspector approved the material change for Red Balloon Learner Centre, Cambridge. c. Exams In the school year 2023124, eleven students took a total of twenty-two GCSE qualifications. Subjects included Maths, English Literature. English Language. Biology and Art. In addition to the GCSES taken this year, some students undertook other examinations which included Maths Awards, Maths Functional Skills and Entry Level English. History & Science. We supported our leamers to prepare for these exams so that they could do their best. We are very proud of the set of results that our students achieved and we have noted that there is clear progress in our exam results. Page 3
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 A¢hievoments and porfornian¢o l¢ontinuod} d. A¢tlvltSes, trlps and excurslons Red Balloon does not just care about academic results. and significant time, energy and expertise are given to ensuring that the students have a wider learning experience through regular activities and special events such as cooking and baking. museum trips, board games. dog-walking. DIY. swimming, circle time. Life Skills sessions and day trips. These activities promote increased self-esleem, emotional regulation. enhanced social skills and a level of confidence that cannot always be developed in a classroom. In addition. many of our students benefit from weekly therapy or counselling sessions. We also work collaboratively with other schools and local groups to develop partnerships across different organisations. During the school year 2023124. we were able to offer students a range of educalional visits and excursions throughout the year. There was a trip to the Tower of London. during which students were able to see the Crown Jewels, meet the ravens and Yeoman guards, enter the While Tower which features displays of armour and weapons from the likes of Henry Vlll, see the site of the execution of Anne Boleyn, and visit Ihe Torture at the Tower exhibition. The students were also involved in a Film Project at the Cambridge Junction's Film Festival. The students produced the ghost story film °the Lighter°,which the students made entirely themselves in school. and won an award for the °Besl Artistic Vision.. Students studwng Animal Care had a visit to the Village Vets in Milton for a behind the scenes lour followed by a Q and A session with a vet. The students saw the operating theatre. the imaging room. the intensive care unit. ph8mi8¢y as well as the reception and consulting rooms. This year's residential tn'p was to the Lake District. where students were able lo participate in a range of outdoor pursuits including kayaking. canoeing. abseiling, hiking. rath'ng. caving. archery. orienteering. This gave much opportunity for students to develop team building skills. We have found over the years that this residential trip has a range of benefits for students. Being on a residential excursion moves them outside of their comfort zone and gives opportunities lo develop selfesteem. In many cases, it is perhaps the only time they have been away from home in this way. For this reason the visrt helps lo build confidence and their own sense of self. The students develop both camaraderie within the group and al the same time independence. Students visited the Cambridge School of Art Graduate Show al Anglia Ruskin University and were inspired by the Fine Art. Fashion, Animation, Illustralion. plus Graphic and Games Design. Students also had the opportunity to go on a day out lo Thorpe Park as a treat to end the summer term ané lo continue to foster a sense of community across both centres. The end of the school year always includes a celebration of the accomplishments of all our young learners and each student reiVeS an annual Record of Achievement highlighting special moments. We also held our annu81 school prom which is a very popular event amongst the students. All students are invited lo attend and to celebrate their achievements and bié farewell lo the students who are at the end of their final year al Red Balloon. Page 4
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 A¢hievoments and porfornian¢o l¢ontinuod} e. Duko of Edinburgh's Award activities Seven students completed their Bronze level Duke of Edinburgh Award. The students have been working towards this over the past year completing 3-6 months of volunteering, skills and physical activity. Students had weekly training in preparation for their expedition. learning skills such as map reading, navigation. using a compass. first aid, pitching lenls and roule planning. The students took part in an overnight expedition traveling by train from Cambridge to Baldock before walking 11 km cross county using the skills they had leamt to successfully navigate as a team. The students pitched their lenls, then prepared dinner and breakfast and completed their return walk to Hilchin train stslion. Financial review . Golng concem After making appropriale enquines, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial stalemenls. Further details regarding the adoption of the going concem basis can be found in the accounting policies. b. Reserves poll¢y The Trustees have decided that unrestricted reserves should be equivalent lo five months, worth of operational expenditure. Al the level of expenditure for 2023124, this should equal around £420,000 (2023.. £370,OOOJ. AI 31 August 2024. unrestricted reserves defined as unrestricted funds less fixed assets was £451.369 (2023.. £499.291). c. Financial review Tot81 unrestricted income during the year was £1.004,329 (2023.. £910,878). Of this, £935,266 (2023.. £870.452) came from fees or bursaries. Total restricted donations and grants income in the year was £27.283 (2023.. £7,076): see note 15 for detsils of these funds. Totsl expenditure was £1,054,206 (2023.. £922,760) and was incurred in the performance of the charitable activities of the company including staffing, rent. ulililies and other general running costs. £1.049,987 (2023.. £897,560) was spent from unrestricted funds and £4,219 (2023.. £25,200) spent from restricted funds. An unrestricted deficit of £20,590 (2023.. sulUS of £13,318) was recoréed, bringing total unrestricted funds lo £511,134 (2023.. £531, 724). d. Materlal Investments poll¢y The Iruslees, policy on investment is to relain surplus fvnds in inlerest-bearing deposit accounts. Page 5
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 e. Prlnclpal rlsks and uncertalntles The Trustees have examined the major slrategic and operational risks which the charity faces, The main areas for cOnM are= Sourcing of funding for studenls Safeguarding of students Loss andlor recruitment of key stsff The trustees and the Coordinators have developed a fee pricing structure that reflects the varying support and educational needs of each student. Safeguarding of students is of the highest pnorily. Ongoing stsff training in Child Protection and Health & Safety is provided regularly and all truslees complete Level 1 Safeguarding when appointed. In addition. Trustees manage the Risk Register for the Centre. and a full range of policies are regularly reviewed by slaff and Iruslees logether. The move that we undertook in 2024 was also carefully managed. including via risk assessment, and ultimately no major problems were encountered. which is a testament lo the hard work and attention paid by the stsff in particular. Strudure. govomance and management a. Constitution Red Balloon Learner Centre Cambridge is registered as a charitable company limited by guarantee and was set up bya Memorandum ofAssociation on 23rd September 2017. b. Governance The Board of Trustees has the power to appoint new Iruslees by resolution at a special meeting. An open and transparent recruilmenl process is undertaken. People who come lo the Iruslees, allenlion as having relevant experience. interest or expertise are asked if they would consider becoming a trustee. are interviewed by other trustees and students, and, if it is considered appropriate, are introdud to all of the trustees. All trustees are subject to enhanced DBS checks and musl provide a Declaration of Interests and confimi that they are 'fil' lo serve as a charity trustee. The Board aims lo meet lce per temi and holds an AGM in the Summer Term. Al each meeting sludenl progress is reviewed along with progress on the School Development Plan. Regular management accounts are also provided for each meeting. Page 6
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Plans for futuro poriods Our current focus is to continue to establish Red Balloon Leamer Cenlre. Cambridge in our new home in Milton. We are considering modificab'ons to the premises that will make beller use of the space. In recent years. we have also been able to expand our offering of support lo the families of our young leamers through the offer of therapy sessions for parents. We were able to sel up a new programme of Family Therapy which has proved very successful. We are now able lo offer some parents a series of therapy sessions to support them as well as their child. We are finding that this is of great benefit lo many of the families of the young people that we support. It is our aim lo be able to continue lo exp8nd this programme and to be able to offer this therapy in a broader way. We have recently secured some additional funding (£20,000 from Evely Trust) to support our expansion of this work. During the year, we expanded the group of trustees and welcomed on board some new Iruslees who bnng with them areas of expertise that very much support our work. We plan to continue to expand the Board over the next few years. The current and future school development plans will continue to be based on a fvll review of our progress in all areas, particulady using the Independent Schools Association's own Self Evaluation Process. Members, Ilablllty The Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the evenl of winding up. With Special Thanks The special relationship that Red Balloon has with schools and local authorities in Cambridgeshire and beyond. and organisalions and individuals who provide many types of support (such as the Leys school), all contribute lo providing the besl possible educalion and care for those children that need our help. We are grateful to all Ihe organisalions and individual donors who have generously supported the work that we do. In addition to the supporters mentioned above. we would like lo thank The Betly Lawes Foundation, DG Marshall of Cambridge Trust and Marshall of Cambridge {Holdingsl Ltd. Lendlnvesl, The Patricia Roulledge Charitable Trust and The Pye Foundation. Page 7
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Stat•mont of Tru$tee$' responsibilities The Tnjstees (who are also the directors of the charity for the purposes of company law) 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 Praclicel. Company law requires the Tnjstees lo prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of ils incoming resources and application of resources. including its income and expenditure. for that period. In preparing these financial slatemenls, the Tnjstees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting estimates that are reasonable and pnjdent., stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial slalements., prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charity will continue in business. The Tnjstees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitys transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements Comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of inforniation to auditors Each of the persons who are Tnjstees at the lime when this Trustees. report is approved has confimied Ihal.. so far as Ihal Trustee is aware, there is no relevant audit information of which the charitys auditors are unaware, and that Trustee has taken all Ihe sleps that ought to have been taken as a Trustee in order to be aware of any relevant audit infomiation and to establish Ihat the chariws audrtors are aware of that infomiation. Auditors The auditors. Lakin Rose Limited. have indicated their willingness to continue in office. The designated Tnjstees will prosx)se a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 28 May 2025 by.. and signed on their behalf ?k ?025. 10'.28aml r50n Chair of Trustees Page 8
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RED BALLOON LEARNER CENTRE CAMBRIDGE Opinion We have audrted the financial slatemenls of Red Balloon Learner Centre Cambridge (the 'charitl} for the year ended 31 August 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 Praclicel. In our opinion the financial stalemenls.. give a true and fair view of the slate of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended- have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice-, and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUK}l and applicable law. Our responsibilrties under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of Ihe 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 eviden Ke have obtained is sufficient and appropriate to provide a basis for our opinion. Con¢lu$ions r•lating to going COnM In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable companvs ability lo continue as a going concern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibiltties of Ihe Trustees with respect to going concern are described in the relevant sections of this report. Page 9
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RED BALLOON LEARNER CENTRE CAMBRIDGE {CONTINUEDI Other information The olher information comprises the infomiation included in the annual report other than the financial slatemenls and our auditors. report Ihereon. 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 lo the exlenl othemise 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 inconsislenl 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, Ke are required lo delemiine whether this gives rise to a material misstslemenl 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 lo report that fact. We have nothing lo report in this regard. Oplnion on other matters pres¢rlbod by the Companlos Act 2006 In our opinion, based on Ihe work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial year for which the financial slatemenls are prepared is consislenl with the financial statements. the Trustees. Report has been prepared in accordance wth 8ppIic8ble legal requirements. Matters on whl¢h we are requlred to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified matenal misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report lo you rf. in our opinion.. adequate accounting records have not been kepl, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement wrth the accounting records and returns; or certain disclosures of Twstees, remuneration specified by law are not made., or we have not received all the infom)ation and explanations we require for our audit- or the Trustees were not entitled lo prepare the financial stalements in accordance with the small companies regime and lake advantage of Ihe small companies, exemptions in preparing the Trustees, Report and from the requirement lo prepare a Slralegic Report. Page 10
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RED BALLOON LEARNER CENTRE CAMBRIDGE {CONTINUEDI Rosponsibilitios of trustees As explained more fully in Ihe Iruslees, responsibilities stslement, the Trustees (who are also the directors of the charitable company for the purposes of company lawl 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 lo enable the preparation of financial slatemenls that are free from material misstatement, whether due to fraud or error. In preparing the financial slatemenls, the Tnjstees are responsible for assessing the charitsble companrfs ability lo continue as a going concern, disclosing, as applicable, mallers related to going concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitsble company or lo cease operations. or have no realistic alternative but to do so. Auditors. rosponsibilities for the audit of the financial ststomonts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditors. report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslatemenl 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 lo influence the economic decisions of users tsken on the basis of these financial stalemenls. Irregularities. including fraud, are inslances of non-compliance with laws and regulations. We design prooedures in line with our responsibilities. outlined above, lo delect material misstatements in respect of irregularities, including fraud. The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Extent to whlch the audlt was ¢onsldered capable of detectlng Irregularltles, Includlng fraud We identify and assess the risks of material misstatement of the financial statements, whether due lo fraud or error, and then design and perform audit procedures responsive lo those risks, including obtaining audit evidence that is sufficient and appropriate lo provide a basis for our opinion. Identifying and assessing polential risks related lo irregularities In idenlifwng and assessing risks of material misstatement in respect of irregularities, incluéing fraud and non- compliance with laws and regulations. we considered the following: the nature of the sector, control environment and performance, results of our enquiries of management aboul their own identification and assessment of the risks of irregularities., any matters we idents'fied having obtsined and reviewed the charity's documentation of their policies and prcKedures relating to.. identifying. evaluating and complwng with laws and regulations and whether they were aware of any instances of non-compliance., detecting and responding to the nsks of fraud and whelher they have knowledge of any actual. suspected or alleged fraud.. the intemal controls established to miligale nsks of fraud or non-compliance with laws and re9ulalions', the discussions among the audit engagement team and involving relevant intern81 specialists regarding how and where fraud might occur in the financial ststemenls and any polents'al indicators of fraud. Page11
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RED BALLOON LEARNER CENTRE CAMBRIDGE {CONTINUEDI As a result of these procedures, we considered the opportunities and inntiveS that may exist within the organisalion for fraud and identified the greatest potential for fraud in relation lo revenue recognition. In common with all audits under ISAS IUKI, we are also required to perform specific ProdureS to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charty operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Charities Act, the UK Companies Act and UK tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental lo the charity's ability to operate or lo avoid a material penalty. We identified no such laws and regulations applicable to the charty. Audit response lo risks identified As a result of performing the above, we identified revenue recognition as a key audit risk related to the potential risk of fraud. Our procedures to respond lo risks identified included the following.. reviewing the financial statement disclosures and lesling to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial st8lements', enquiring of management concerning actual and potential litigation and claims.. performing analytical procedures lo identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud., reading minutes of meetings of those charged with governance- obtained an understanding of provisions and held discussions with management lo understand the basis of recognition or non-recognilion of provisions., and in addressing the risk of fraud through management overnde of controls. testing the approprialeness of journal entries and other adjuslmenls- assessing whether the judgements made in making accounting estimates are indicative of a potential bias.. and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraué risks to all engagement team members including internal specialists. and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. A fvrther description of our responsibilities for the audit of the financial stalemenls is located on the Financial Reporting Council's website at: .frC.Or .uklauditorsres nsibiltties. This description fomis part of our auditors, reporL Other matters The corresponding figures are unaudited. Page 12
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF RED BALLOON LEARNER CENTRE CAMBRIDGE {CONTINUEDI Use of our roport This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable companls members those matters we are required lo slate to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo 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. Chrislophor Doughfrrty (senior statutory auditor) for and on behalf of Lakin Rose Limited Chartered Accountants Slatulory Auditors Cambridge House Camboro Business Park Girton Cambridge CB3 OQH Date.. 28 May 2025 Page 13
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from.. Donations and legacies Charitable activities Investments Other income 27,283 53,196 935,266 6,767 9,100 80,479 935,266 6,767 9,100 36,213 870,452 3,019 8,270 Total income 27,283 1,004,329 1,031,612 917,954 Expenditure on.. Charitable activities 4,219 1,049,987 1,054,206 922, 760 Total expendlture 4,219 1,049,987 1,054,206 922, 760 Not in¢om•l{oxp?nditur•l Transfers between funds 23,064 125,0681 145.658) 25,068 122.5941 (4,806) 15 Net movement in funds 12,004) 120,5901 122,5941 (4,806) Reconciliation of funds: Total funds brought forward Net movemenl in funds 9,685 (2,004) 531,724 120,5901 541,409 122,5941 546,215 (4.806) Total funds carried forward 7,681 511,134 518,815 541,409 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 17 10 32 form part of these financial slatements. Page 14
RED BALLOON LEARNER CENTRE CAMBRIDGE IA company limited by guarantee) REGISTERED NUMBER: 10978174 BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Fixed assets Tangible assets 12 59,765 32,433 59,765 32,433 Current assets Debtors Cash at bank and in hand 13 30,877 497,363 29,862 505,352 528,240 535,214 Creditors.. amounls falling due within one year 14 169,1901 (26,238) Net current assets 459,050 508,976 Total net assets 518,815 541,4Q9 Charity funds Restricted funds Unreslricted funds 15 7,681 9,685 Designated funds General funds 15 15 59,765 451,369 531, 724 Total unrestricted funds 15 511,134 531, 724 Total funds 518,815 541,409 The Tnjstees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounling 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. The financial statements were approved and authorised for issue by the Tnjstees on 28 May 2025 and signed on their behalf by.. Chair of Trustees The notes on pages 17 10 32 form part of these financial slatements. Page 15
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Ca$h Ilows from operating a¢tivitie$ Net cash generatedllused} in operating activities 51,408 (8,488) Cash flows from Investlng actlvltles Purchase of tangible fixed assels 159.3971 (2,049) Net cash used In Investlng actlvltles 159,3971 12.049) Cash flows from financing activities Net cash provlded by flnan¢lng actlvltles Change In ¢ash and cash equlvalents In the year Cash and cash equivalents al the beginning of the year 17,989) 505,352 110,5371 515,889 Cash and cash equlvalents at the end of the year 497,363 505,352 The notes on pages 17 10 32 form part of these financial statements Page 16
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General information The charity is a private charitable company limited by guarantee and is incorporated in England and Wales. The address of the registered Offi is 4244 High Street. Milton, Cambridgeshire, CB24 6DF. counting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102} Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Red Balloon Learner Centre Cambridge meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initl8lly recognised al historical cost or transaction value unless otheise stsled in the relevant accounb'ng policy. 2.2 Going ¢oncem The Trustees have a reasonable expectalk)n that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason Ihey have adopted Ihe going concem basis in preparing the financial statements. 2.3 Logal slatus of the charity There is no share capital as the company is limited by guarantee. Each member has guaranteed an amount. not exceeding £10. towards the company's liabilities in the event of a winding up. provided that 8 member has not ceased to be a member one year prior to any winding up order. 2.4 Income l income is recognised once the charity has entillemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entillemenl of receipt, its recognition is deferred and included in creditors as deferred income. Where entillemenl occurs before income is received, the income is accrued. Where the donated good is a fixed asset. it is measured at fair valve, unless r( is impractical to measure this reliably. in which case the cost of the item lo the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the chariws accounting policies. On receipt, donated professional services and facilities are recognised on the basis of the value of the gift lo the charity which is the amount il would have been willing to pay to obtain SeiceS or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expendilure in the period of receipt. Income tsx recoverable in relation lo investment income is recognised 81 the time the investment Page 17
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 A¢counting poli¢i•s l¢ontinuedl 2.4 Income l¢ontlnuod) income is receivable. 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 Ihe service. 2.5 Expenditure Expenditure is recognised once Ihere is a legal or constructive obligation lo transfer economic benefit lo a third paty. it is probable that a transfer of economic benefits will be required in selllement 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 atlribulable lo 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 lo a single activity are apportioned between those activities on 8 basis consistent with the use of resources. Central stsff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charrtable activities is incurred on directly undertaking Ihe activities which further the charitvs objectives. as well as any associated support costs. l expenditure is inclusive of irrecoverable VAT. 2.6 Tangible fixod as1$ and depr8¢iation Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is Charged so as to allocate Ihe cost of tangible fixed assets less their residual value over their esb'maled useful lives, DepciatIon is provided on the following basis.. Leasehold improvements Office equipment Computer equipment 10% 33% 50% The assets, residual values. usefvl lives and depreciation methods are reviewed. and adjusted prospectively if appropriate. or if there is an indication of a significant change since the last reporting date. 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. Page 18
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 A¢counting poli¢i•s l¢ontinuedl 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-lerm 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. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation al the balance sheet dale as a result of a past event, it is probable Ihat a transfer of economic benefit will be required in settlement, and the amounl of the settlement can be estimated reliably. Liabilities are recognised al the amount that the charity 8nlicip8tes il will pay lo 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 eslimale of the amounts required lo settle the obligation. Where the effect of the lime 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 lo the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. 2.10 Financial instruments The charity 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 al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.11 Pensions The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 2.12 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Tnjstees in furtherance of the general objeclives of the charity and which have not been designated for other purposes. Designated funds comprise unreslricled funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial stalemenls. Reslricled funds are funds which are to be used in accordance with specific reslnctions imposed by donors or which have been raised by the charity 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 lo the financial statements. Inveslmenl income, gains and losses are allocaled to the appropriate fund. Page 19
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donalions and legacies Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Grants 38.280 14,916 38,280 42,199 20, 137 16,076 27,283 27.283 53.196 80,479 36,213 Total 2023 7,076 29, 137 36,213 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total funds 2023 Teaching and support of bullied children 935,266 935,266 870,452 Total 2023 870,452 870,452 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Deposit account interest 6,767 6,767 3,019 Total 2023 3,019 3,019 Page 20
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Oth•r in¢oming resources Unrestricted funds 2024 Total funds 2024 Total funds 2023 School lunches Miscellaneous income 6,770 2,330 6,770 2,330 5,818 2,452 9,100 9,100 8,270 Total 2023 8,270 8,270 Analysis of expondituro on ¢haritsbl• activitie$ Summary by fund type Restricted Unrestricted funds funds 2024 2024 Total 2024 Total 2023 Teaching and support of bullied children 4,219 1,049,987 1,054,206 922, 760 Total 2023 25,200 897,560 922, 760 Analy$is of 8xponditur• by activities Activities undertaken directly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Teaching and support of bullied children 876,420 177,786 1,054,206 922, 760 Total 2023 839, 133 83,627 922, 760 Page 21
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analy$is of 8xponditur• by activities l¢ontinuod) Analysis of direct cost$ Total funds 2024 Total funds 2023 Activities 2024 Staff costs Depreciation Red Balloon of the air Therapy General resources Food Student travel and activities Examination fees Special activities Educational resources Tuition Well-being Careers and college Iransf(ion Rates and Utilities Staff welfare Rent Staff and volunteer travel 689,768 6,817 47 13,232 4,030 15,287 8,747 4,097 3,235 9,542 4,981 919 689,768 6,817 47 13,232 4,030 15,287 8,747 4,097 3,235 9,542 4,981 919 23 680, 184 6,571 11,927 11,180 3,781 12,447 12,458 2,991 3,940 8,515 4,544 654 548 19,130 787 95,596 182 19,130 787 95,596 182 10,941 933 67,406 113 876,420 876,420 839, 133 Total 2023 839, 133 839, 133 Page 22
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analy$is of 8xponditur• by activities l¢ontinuod) Analysis of support costs Total funds 2024 Total funds 2023 Activities 2024 Legal and professional Support fee (Red Balloon Group) Training costs Insurance Renewals and repairs Office costs Bank fees Bad debts Loss on disposal of fixed assets Travel Gene1 expenses Governance costs 25,975 8,000 3,887 5,479 44,610 15,403 25,975 8,01)0 3,887 5,479 44,610 15,403 11,845 8,000 2,721 6,094 21,685 10,999 20.480 25.248 1,025 10.025 17,594 20,480 25,248 1,025 10,025 17,594 10,382 347 11,494 177,786 177,786 83,627 Total 2023 83,627 83, 627 Auditors. remuneration The auditors, remuneration amounts lo an auditor fee of £8.000 (2023 - £nil), and accountancy SeiceS of £3,150 (2023- accountancy and independent examination services of £5,400)- 10. Staff costs 2024 2023 Wages and salaries Social securrty costs Contribulion to defined contn'bulion pension schemes 627,441 39,142 23,185 609, 198 48,528 22,458 689,768 680, 184 Page 23
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. Staff costs l¢ontinuod} The average number of persons employed by the charity during the year was as follows.. 2024 No. 2023 No. Employees 31 No employee received remuneration amounting lo more than £60,000 in either year. The Trustees consider the key managemenl personnel lo comprise the Coordinator and Deputy Coordinators. The aggregate cost of remuneration of key management personnel during the year was £149,685 (2023- £124.447). 11. Trustees. remuneration and expenses During the year, no Tnjstees received any remuneration or other benefits (2023- £NIL)- During the year, expenses tol811ing £182 were reimbursed or paid directly to 1 Trustee (2023 - £171 to 1 Trustee). The expenses related lo reimbursement of travel expenses. Page 24
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Tangible fixed assets Leasehold Fixtures and Improvements fittings Computer equipment Total Cost or valuation Al 1 Seplember 2023 Additions Disposals 54,343 55,211 154.3421 11,485 4,186 17.802) 10,155 75,983 59,397 162.1441 Al 31 August 2024 55,212 7,869 10,155 73,236 Depreclatlon Al 1 Seplember 2023 Charge for the year On disposals 24,065 5,434 129.4991 10,638 540 17.397) 8,847 43,550 6,817 136.8961 Al 31 August 2024 3,781 9,690 13,471 Net book value Al 31 August 2024 55,212 4,088 465 59,765 At 31 August 2023 30,278 847 1,308 32,433 1& Debtors 2024 2023 Due after more than ono y•ar Other debtors 10,732 10,732 10,732 10,732 Due wlthln one year Trade debtors Other debtors Prepayments and accrued income 12,953 2,112 5,080 15,943 1,368 1,819 30,877 29,862 Page 25
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 11 Debtors l¢ontinuod) Included in other debtors due after more than one year is an interest free loan to Red Balloon Learner Centre Group of £10,732 (2023 - £10, 732) which is repayable at over 12 months, noti li.e. 366 days). 14 Creditors: Amounts falling duè within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 5,726 5,165 6,152 52,147 2,544 10,424 150 13,120 69,190 26,238 Page 26
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& Statement of funds Stat•mont of fund$ - current y•ar Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Income Expenditure Unrestricted funds Designated funds Fixed assets designated fund 16,817) 66,582 59,765 Gèneral funds General Funds 531,724 1,004,329 11,043,170) 141,514) 451,369 Total Unrestricted funds 531,724 1,004,329 11,049.987) 25,068 511,134 Restricted funds Parent support fund 16+ provision fund Erasmus project fund Duke of Edinburgh Awards Kitchen refurbishmenl Lab refurbishment 2,274 719 6,692 (2.274) 13401 379 6,692 610 2,215 5,068 20,000 11,605) 15,068) 120,0001 9,685 27,283 14,219) 125,068) 7,681 Total of funds 541,409 1,031,612 11,054,206) 518,815 Page 27
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& Stat•m•nt of funds (Continued) Designated Funds The Fixed assets designated fund represents the net book value of fixed assets. Restricted Funds Parent support fund - Donations received from Co-op to support parenls via parent support group and Family therapy. 16+ provision fvnd - Grant received from Qualcomm to provide Iransib'on support to fomier sludenls as they move into further education. training and employTnenl. BBC Children in Need Curiosty fund - Grant received to fund Science based learning activities. Erasmus projecl fvnd - Funding for a collaborative project between a group of schools in the UK, Cyprus and Poland. Duke of Edinburgh Awards fund - Donations towards Duke of Edinburgh Awards related expenses. Kitchen refurbishmenl fund - Grants towards the costs of the new kitchen. Lab refurbishment fvnd - Grants towards the cost of a new science laboratory. Page 28
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& Stat•m•nt of funds (Continued) stst•mont of fund$ - prior y•ar Balance al I September 2022 Balance al 31 Augusl 2023 Income Expenditure Unrestricted funds General Funds 518,406 910,878 (897,560) 531, 724 Restricted funds Funding for garden sludio Parent svpport fund 16+ provision fund BBC Children in Need Curiosily fund Erasmus project fund Funding for Covid-19 support Other restricted funds 486 4,939 1,096 8,562 6, 692 6,034 (486) (2, 665) (377) (15,526) 2,274 719 (6,964) 13,656 6,964 (6,034) (112) 112 27,809 7,076 (25,200) 9,685 Total of funds 546,215 917,954 (922, 760) 541,409 Funding for garden studio - Funding received from Qualcomm to build. decorate and equip a garden office studio. Parent support fund - Donations received from Co-op to support parents via parent support group and Family therapy. 16+ provision fvnd - Grant received from Qualcomm to provide Iransib'on support to fomier sludenls as they move into further educalion. training and employTnenl. BBC Children in Need Curiosity fund - Grant received to fund Science based leaming activities. Erasmus project fund - Funding for a collaborative project between a group of schools in the UK. Cyprus and Poland. Funding for Covid-19 support - Funding from the National Lottery lo support students and their families through the pandemic and beyond. This includes Family therapy. Other reslricled funds - Donation towards Ihe cosls of art supplies. Page 29
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1& Summary offunds Summary offunds- current y•ar Balance at 1 September 2023 Balance at 31 August 2024 Transfers inlout Income Expenditure Designated funds General funds Reslncted funds 16,817) 1,004,329 11,043.1701 27,283 14.219) 66,582 141,5141 125,0681 59,765 451,369 7,681 531,724 9,685 541,409 1,031,612 11,054,206) 518,815 Summary of funds - prlor year Balance al I September 2022 Balance al 31 Augusl 2023 Income Expendilu General funds Restricted funds 518,406 27,809 910,878 7,076 (897,560) (25,200) 531, 724 9,685 546,215 917,954 (922, 760) 541,409 17. Analysls of net assets between funds Analy$is of not ass•ts between funds - curr•nt period Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Debtors due after more than one year Current assels Creditors due wrthin one year 59.765 10.732 509,827 169,190} 59,765 10,732 517,508 169.1901 7.681 Total 7.681 511,134 518,815 Page 30
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Analysis of not a$sots botwe•n funds l¢ontinuod} Analysis of not ass•ts between funds - prior period Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Debtors due after more than one year Current assets Creditors due wrthin one year 32,433 10,732 514,797 (26,238) 32,433 10,732 524,482 (26,238) 9,685 Total g,685 531, 724 541,409 18. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles 2024 2023 Net expenditure for the period las per Stslement of Financial Activities) 122,5941 (4,806) Adjustments for: Depreciation charges Loss on Ihe disposal of fixed assels Increase in debtors Increase in creditors 6,817 25,248 11.015) 42,952 6,571 (14,253) 4,000 Net cash provlded byllused Inl operatlng actlvltles 51,408 (8,488) 19. Analysis of cash and ¢a$h oquivalonts 2024 2023 Cash in hand 497,363 505,352 Totsl cash and cash equlvalents 497,363 505,352 Page 31
RED BALLOON LEARNER CENTRE CAMBRIDGE IA¢ompany limit by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of changes In net debt September At31 2023 Cash flows August 2024 Cash at bank and in hand 505,352 17.989) 497,363 505,352 17,989) 497,363 21. Pension commitments The charity operales a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity lo the fund and amounted to £23,185 (2023 £22.458)- Contributions of £6.152 (2023 - £150) were payable to the fund al the balance sheet date and are included in creditors. Operating lease commitments At 31 August 2024 the charity had commilmenls to make future minimum lease payments under non- cancellable operating leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 51,667 277,708 31,331 329,375 31,331 Page 32