FOR THE YEAR ENDED 31 DECEMBER 2022 WE AIM TO GIVE BEREAVED CHILDREN A BRIGHTER TOMORROW Registered CIO charity number 1194917 ## TABLE OF CONTENTS |Charity’s Governance|3| |---|---| |Charitable Objectives|4| |Our Objectives|5| |Review of Beneficiary Activities and Achievements|6| |Chairperson Report|7| |Financial Review|8| |Income|8| |Expenditure|9| |Looking Ahead|9| |Reserves Policy|9| |Independent Auditors Report|11| |Financial Statements|12| |The objects shall focus on beneficiaries in Milton Keynes but are not restricted to that area.
Statement of Assets and Liabilities
13|| |Notes to Financial Statements|14| |Declaration|17| Harry’s Rainbow Trustees’ Annual Report 2023 2 ## CHARITY’S GOVERNANCE ## Trustees G Bariah (appointed 5/4/2022) R Naylor (appointed 21/1/2022) M Wade (appointed 15/1/2022) P Swales V Holmes E Golabek P McGrath J Pritchard J Leggatt ## Principal Address Suite 645 Milton Keynes Business Centre Foxhunter Drive Linford Wood Milton Keynes MK14 6GD ## Registered Charity Number 1194917 ## Independent Examiner Ad Valorem Accountancy Services Limited 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN Bank Barclays Bank PLC Leicester LE87 2BB Harry’s Rainbow Trustees’ Annual Report 2023 3 ## CHARITABLE OBJECTIVES The aims of the CIO are to provide support and relief for children, young people (up to the age of 25 years) and their families who have been bereaved through the loss of a parent or sibling by: 01 Providing mentoring, emotional well-being support and advice thro3ugh facilitated internal and partner agency support groups, provision of books, resources and via our website and social networking sites; 02 Providing recreational and leisure activities to children and young people in order to improve their conditions of life and reduce the isolation felt during bereavement by facilitating contact with other children, young people and their families; 03 Raising public awareness of the need for support and guidance and providing information about coping with bereavement The objects shall focus on beneficiaries in Milton Keynes but are not restricted to that area. Harry’s Rainbow Trustees’ Annual Report 2023 4 ## OUR OBJECTIVES In setting our objectives and planning our activities the Trustees have considered the Charity Commission’s public benefit guidance and our charitable aims. Our key objectives for the year included: ## 01 Face to Face Rainbow Groups ## 02 Implement evaluation tools Transition back to face-to-face groups from the online service, following the pandemic. Implement new groups plan to allow for growth. Implement assessment tools and carry out a pilot to review impact on beneficiaries ## 03 Sustain income levels 04 ## Improve resources Carry out reviews of income streams and resources to manage growth and recovery from the covid pandemic. Review resources to measure needs for future development for the board, staff and volunteers. 05 ## Raise Awareness of our service To raise awareness in underrepresented and minority communities, through schools, networking, awards, and marketing. Harry’s Rainbow Trustees’ Annual Report 2023 5 ## REVIEW OF BENEFICIARY ACTIVITIES AND ACHIEVEMENTS ## 2022 Highlights - Recruitment of Family Liaison Officer - 56% increase in children registering to access our service - Return to face-to-face services and implemented new group structure to offer 44 groups across the year We have responded to the increase in need for our service by implementing a new structured element to our rainbow groups. We have delivered more groups across the year (44) and provided more short breaks (73) and hampers to bereaved children and their families (74). With the implementation of evaluation tools, engaging with our community once more (a hugely impacted area since the isolation of lockdown) are some of the projects that can help us to connect with bereaved people in underrepresented groups. ## Other successes 43 families benefitted from the beneficiary get togethers during the summer and at Christmas. 8 attended Lads and Dads day at Energie Fitness Gym 354 individuals attended our trips to Woburn Safari Park and Frosts Christmas event 23 families attended our 10[th] Birthday celebration 32 young people and young adults attended a trip to Ninja Warriors and the Escape room Harry’s Rainbow Trustees’ Annual Report 2023 6 ## CHAIR’S REPORT ## 2022 Highlights - Transfer of legal structure - Recruitment of board members & staff to improve resources - Move to own premises - SME GOLD Positive Impact - CEO/Founder awarded MBE ## Governance Despite the ever-changing landscape and challenges of the pandemic our charity has remained strong and resilient. There have been some changes to our board, resulting in the recruitment of new Trustees in close succession, taking the board to 9 members, collectively offering a broad range of skills and diversity. We have managed the transfer of charity legal structure from our original charity of The Harry’s Rainbow Charitable Trust, founded in 2011 – 1149011). Our small operational team have aided in the management of the transfer to ensure services were not affected. Recruiting a dedicated Family Liaison officer in May 2021 enabled the re structure of face-to-face rainbow groups, more than doubling our offering from Jan 2022. This has allowed us to cater to the differing needs of our beneficiaries. We considered the financial difficulties we will face over the coming years and therefore invested in the part time fundraising role to become full time. This allowed focus on multiple areas, including weak fundraising streams as well the implementation of a new fundraising database. ## Operations Our governance objectives for 2023 will focus on strengthening our new team in order to work on the creation of a 5-year strategy, whereas our operational objectives will involve implementation of evaluation tools, engaging with our community once more (a hugely impacted area since the isolation of lockdown) and projects that can help us to connect with bereaved people in underrepresented groups. We raised more income than we expected which has led to high level free reserves. The wonderland ball raised more than expected which will inform our future fundraising strategy. Harry’s Rainbow Trustees’ Annual Report 2023 7 ## FINANCIAL REVIEW ## 2022 Highlights - Total cash deficit of £3.5k - Total cash funds at £192.8k with free reserves at £170k - Figures reflect PART year March-December 2022 as explained in page 16 ## Financial objectives The change of legal structure and move of financial year is reflected in our accounts. The accounts reported are for part year 16th March 2022 to 31st December 2022. Our thanks goes to the many donors and supporters who have made financial contributions to our work. Some are listed below. |Grants & Trusts|Corporate Funders|Events| |---|---|---| |The National Lottery|Ingram Micro|Halloween Scare Maze| |The Albert Hunt Trust|Rightmove|Canal walkers| |Charlies Gift|Marshalls|Wonderland Ball| |The Rotary Club MK|Cherished Urns|Jessica's Rainbow Run| |Milton Keynes
Community Foundation|Medical Research
Network|Harry’s Rainbow
Walkers| Harry’s Rainbow Trustees’ Annual Report 2023 8 ## Financial Review continued ## Income Total income was £183.9k for the year. The key highlights within this were:- - Increased Community Income with donations higher than anticipated. - The successful Wonderland Ball and other in year events generating more income than expected, given the tough economic climate. ## Expenditure Our total costs were 26.2% higher than last year, driven by increased beneficiary costs, fundraising activities and increased operational costs year on year. The contributing factors were;- - Increased numbers of beneficiaries the charity was supporting. - Additional resources employed in year to support the beneficiary activities, and continue to provide a level of support to all concerned. ## Looking Ahead - We aim to recruit additional fundraising team members to focus on challenge events - Implementing new operating systems to ensure fundraisers, volunteers and donors are supported, with relationships being maintained to secure future support and fundraising activities. - We continue to focus on grant applications and source continued / new support through corporate partners. |Reserves Policy
Our cash funds are analysed as follows:|2021/22
Actual|2023
Target| |---|---|---| |Unrestricted Funds (Reserves)|£170k|£117k| |Restricted / Designated funds:||| |- Grants|£13.4|£5k| |- Project Funds (CIO)|-|-| |- Committed funds|£8.5k|-| |Total Funds(1)|£191.9|£122k| |Ratio Reserves(2)to Annual Operating Expenditure(3)|1.02|0.51| (1) Includes unrestricted, restricted, and designated funds (2) Unrestricted funds (3) Charitable activities and other operating and administrative expenses Harry’s Rainbow Trustees’ Annual Report 2023 9 Financial Review continued ## Reserve Policy continued The 2022 unrestricted reserves were at £170k at a ratio of 1.02, outside the reserves policy range of 0.9. The surplus was driven by the transfer of reserves from the original Harry’s Rainbow charity to the CIO in March 2022. In addition, the charity received more income than anticipated. We intend to use our free reserves to support the following initiatives, and bring the unrestricted reserves ratio down within policy range in 2023: - Change the Part-time Fundraising Co-Ordinator position to a Full-time position - Expand support to beneficiaries - Recruit more staff, focusing on strengthening the team in-order to create a 5-year strategy - The charity is also anticipating a tough year for fundraising due to the ongoing economic climate in the UK and UK businesses face. Harry’s Rainbow Trustees’ Annual Report 2023 10 ## INDEPENDENT AUDITORS REPORT ## Independent examiner's report to the trustees of The Harrys Rainbow CIO I report to the charity trustees on my examination of the accounts of The Harrys Rainbow CIO (the Trust) for the year ended 31 December 2022. ## Responsibilities and basis of report As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## Tom Foot FCA Ad Valorem Accountancy Services Limited 2 Manor Farm Court Old Wolverton Road Old Wolverton Buckinghamshire MK12 5NN Harry’s Rainbow Trustees’ Annual Report 2023 11 ## FINANCIAL STATEMENT ## STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2022 |||Unrestricted|Restricted|**Total**| |---|---|---|---|---| ||Notes|funds|funds|**funds**| |||£|£|£| |**INCOME AND ENDOWMENTS FROM**||||| |Donations and legacies||159,683|24,047|183,730| |Other trading activities|2|180|0|180| |**Total**||159,863|24,047|183,910| |**EXPENDITURE ON**||||| |**Raising funds**||||| |Other trading activities||3,797|0|3,797| |||3,797|0|3,797| |**Charitable activities**||||| |Charitable activities||143,176|2,150|145,326| |Other||38,362|0|38,362| |**Total**||185,335|2,150|187,485| |**NET INCOME/(EXPENDITURE)**||-25,472|21,897|-3,575| |**RECONCILIATION OF FUNDS**||||| |Total funds brought forward||195,527|0|195,527| |**TOTAL FUNDS CARRIED FORWARD**||170,055|21,897|191,952| Harry’s Rainbow Trustees’ Annual Report 2023 12 ## STATEMENT OF ASSESTS AND LIABILITIES |BALANCE SHEET
31 December 2022
Notes|Unrestricted
funds
Restricted
funds **Total funds**
£
£
£| |---|---| |**FIXED ASSETS**
Tangible assets
4
**CURRENT ASSETS**
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
5
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
6
**Unrestricted funds**
**restricted funds**
**Total funds this year end**|5,922
0
5,922
170,875
21,897
192,772
-6,664
0
-6,664| ||164,133
21,897
186,030| ||17,055
21,897
191,952| ||170,055
21,897
191,952| ||170,055
21,897| ||**191,952**| Harry’s Rainbow Trustees’ Annual Report 2023 13 ## NOTES TO FINANCIAL STATEMENT ## 1. ACCOUNTING POLICIES ## Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably. ## Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. ## Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property - 15% on cost Computer equipment - 25% on cost ## Taxation The charity is exempt from tax on its charitable activities. ## Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Harry’s Rainbow Trustees’ Annual Report 2023 14 ## NOTES TO FINANCIAL STATEMENT Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## 2. OTHER TRADING ACTIVITIES £ Merchandise income 180 ## 3. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 December 2022. Trustees' expenses There were no trustees' expenses paid for the year ended 31 December 2022. ## 4. TANGIBLE FIXED ASSETS |**COST**
Additions
**DEPRECIATION**
Charge for year
**NET BOOK VALUE**
At 31 December 2022|**Improvements to**
**property Computer equipment**
**Totals**
**£**
**£**
**£**
6,712
289
7,001| |---|---| ||1,007
72
1,079| ||5,705
217
5,922| ## 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|| |---|---| |Trade creditors
Taxation and social security
Other creditors|**£**
4,067
2,651
24| ||6,742| Harry’s Rainbow Trustees’ Annual Report 2023 15 ## NOTES TO FINANCIAL STATEMENT ## 6. MOVEMENT IN FUNDS |||**Net movement in**|| |---|---|---|---| ||**At 16/3/22**|**funds**|**At 31/12/22**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|195,527|-25,472|170,055| |**Restricted funds**|||| |Designated Funds|0|21,897|21,897| |**TOTAL FUNDS**|195,527|-3,575|191,952| |Net movement in funds, included in the above are as follows:|||| ||**Incoming**|**Resources**|**Movement**| ||**resources**|**expended**|**in funds**| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |General fund|159,863|-185,335|-25,472| |**Restricted funds**|||| |Designated Funds|24,047|-2,150|21,897| |**TOTAL FUNDS**|183,910|187,485|-3,575| ## 7. RELATED PARTY DISCLOSURES The charity has officers in common with Milton Keynes Play Association. There were no other related party transactions for the year ended 31 December 2022. ## 8. INCORPORATION OF RESERVES On 16th March 2022 there was a transfer of funds totalling £195,526 from The Harry’s Rainbow Charitable Trust. The original charity, registration number 1149011, ceased its operations on 15 March 2022 and transferred its reserves in full to the CIO on 16 March 2022. Harrys Rainbow CIO commenced trading on 16 March 2022. ## 9. SERVICES PROVIDED TO THE CHARITY Harrys Rainbow CIO received services in the form of website support during the year to December 2022. The services were provided free of charge, with the value of these services amounting to £3,600 for the reporting period. The value of these services has been accounted for within the statement of financial activities within these accounts. Harry’s Rainbow Trustees’ Annual Report 2023 16 ## DECLARATION The trustees declare that they approve the Trustees’ report and the financial statements (page 12-17). Signed on behalf of the charity’s Trustees Name: Jodie Pritchard Position: Chairperson Date: 8[th] October 2023 Harry’s Rainbow Trustees’ Annual Report 2023 17 01908 061676 Suite 645, Milton Keynes Business centre Foxhunter Drive, Linford Wood MK14 6GD info@harrysrainbow.co.uk www.harrysrainbow.co.uk ## WE AIM TO GIVE BEREAVED CHILDREN A BRIGHTER TOMORROW Registered CIO charity number 1194917