Company number: 07347746 Charity number: 1203145
Transgenerational Change Limited
Report and financial statements For the year ended 31 August 2024
Transgenerational Change Limited
Contents
For the year ended 31 August 2024
Reference and administrative information .................................................................................... 1 Trustees’ annual report ................................................................................................................ 2 Independent Examiner’s report .................................................................................................... 9 Statement of financial activities (incorporating an income and expenditure account) .................. 10 Balance sheet ............................................................................................................................. 11 Notes to the financial statements ............................................................................................... 12
Transgenerational Change Limited
Reference and administrative information
For the year ended 31 August 2024
Company number 07347746 Country of incorporation United Kingdom Charity number 1203145 Country of registration England & Wales Registered office and operational address 36, Buckingham Road, Petersham, Surrey, TW10 7EQ
The company’s trading name is The School & Family Works
| Trustees | Trustees, who are also directors under company law, who served | Trustees, who are also directors under company law, who served |
|---|---|---|
| during the year and up to the date of this report were as follows: | ||
| James Alexander | Chair | |
| Tim Curry | Treasurer | |
| Nancy Graham | Clinical Governance and Safeguarding | |
| Sarah Fletcher | ||
| Carol Halliwell | ||
| Hendrix Hammond (appointed 11 October 2024) | ||
| Susan O’Sullivan | ||
| Gavin Winters (resigned 27 November 2024) | ||
| Key management | Mark Griffiths | Chief Executive |
| personnel | Joanna Watson | Deputy Chief Executive |
| Bankers | The Co-operative Bank | |
| Delf House | ||
| Southway | ||
| Skelmersdale | ||
| WN8 6WT | ||
| Independent examiner | Gary Howard | |
| Howard Wilson | ||
| 36 Crown Rise | ||
| Watford | ||
| WD25 0NE |
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Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
The trustees present their report and the financial statements for the year ended 31 August 2024.
Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Objectives and activities
Purposes and aims
The company’s purpose is to advance the education and promote the mental health of children. We do this by working in partnership with schools to provide therapy, support and practical advice to children and their parents (or carers). We also provide training and advice to teachers and other educational professionals. In addition, the trustees have discretion to address the needs of children who are suffering from social disadvantage and/or financial hardship in other ways if they think that this is appropriate.
Our key service is known as Family Group . This involves one of our qualified therapists working with a senior member of a school’s staff to set up and manage a self-help community of up to eight families (where a family is defined as a child and at least one parent/carer). Community members meet weekly for a three-hour structured session that is designed to help identify and address the root causes of the behavioural issues that are preventing the participating children from fulfilling their potential. Family Group is a long-term intervention and children actively participate in the community for as long as is necessary to achieve long lasting change. In many cases, this takes over a year. On “graduation”, if necessary, former Family Group members (children and/or parents/carers) receive ad hoc continuing support from us and/or from the school. Most of our Graduate support services take place at our partner schools but we also manage a separate selfhelp group for West London graduate parents with complex needs.
An associated service is our Food Project which is based in a number of our partner schools. This provides current and former Family Group participants with an opportunity to improve their skills and confidence by working with other volunteers to collect surplus food from local businesses and distribute it to families suffering from food poverty. By preventing this food going to landfill, our Food Project also helps to protect the environment.
The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities are for the public benefit and remain focused on its stated purposes.
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Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.
Achievements and performance
2023/24 was another challenging year, mainly because all of our actual and potential partner schools were operating in a very difficult environment with inadequate financial and non-financial resources. In the circumstances, the fact that the majority of them managed to make the required investment in Family Group is a tribute to their determination to respond positively to the wider needs of their local communities and a recognition of their belief in the positive impact of our work. The two new partnerships that we initiated at the end of the previous year (with Coombe Hill Infants’ School, Kingston and Avondale Park Primary School, W11) developed very satisfactorily and, by the end of the year, 15 families were actively participating in these two communities. In contrast, two other partner schools (Fulham Primary School, SW6 and Sir John Lillie Primary School, SW6) decided that that they needed to prioritise other activities and, in both cases, we managed an orderly winddown of their Family Group communities. The net result was that we ended the year as we started - with 10 active Family Groups.
In spite of all the difficulties, the 12 Family Group communities that functioned during the year achieved a great deal. In total, 184 children and their parents/carers participated in 347 weekly self-help community meetings. Average attendance at each weekly meeting was 4.4 families and, with guidance from the co-leaders of their communities, almost all community members improved their mental health and their key relationships (both within the families and between the families and their schools). As a result, the children’s behaviours changed in a way that helped to accelerate their educational progression and enabled them to start fulfilling their potential.
As in previous years, our focus on a small number of families with extremely complex needs, made it very difficult to reach statistically valid conclusions on the effect that we have had but the available quantitative evidence is positive and the feedback from parents, children and school staff confirmed that, in most cases, we were making good progress towards achieving our targeted outcomes. For example, our current quantitative tool for measuring personal development in both children and adults showed that, as a result of participating in Family Group, at the end of the school year, approximately 80% of the 130 active programme participants (parents and children) were on track to meet their clinical service targets. This compares very favourably with our target of having at least 70% of Family Group participants at or above their service targets. Similarly, when asked in the summer term to assess whether Family Group was having a positive impact on the educational progression of the participating children, on average, teachers reported a score of 4.2 (out of a maximum score of 5). In this case, a score of 3 indicated "no change", with 5 meaning that the teachers "strongly agreed" that there had been positive impact.
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Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
As well as our Family Groups, during the year, we continued to provide follow-on support to children and parents who had previously participated in Family Group (including members of the 29 families who successfully “graduated” from Family Group during the year). More specifically, as well as the ad-hoc support provided in all of our partner schools, we managed a separate self-help community for Hounslow parents with continuing needs. This Parent Group is facilitated by a senior member of our team and, as before, the focus was on a small number of individuals with particularly complex needs. Three parents were regular attendees and, in total, they participated in 37 Parent Group sessions during the year. Feedback was very positive.
We also maintained our Food Project throughout the year, primarily by working with two partner schools with experience of Family Group (Victoria Junior School, TW13 and Southville Primary, TW14). By organising regular food stalls at these schools, as well as addressing food poverty and preventing good food from going to landfill, we were able to reinforce our Family Group principles by demonstrating the power of a community and by providing opportunities for parents and children to enhance their skills and confidence. We estimate that, each week, our food stalls helped at least 60 families reduce food poverty and, in total, over 3 tonnes of food were diverted from landfill.
Other related activities during the year included our Communities of Practice (“CoPs”) and a Family Insight Group (“FIG”). Our CoPs gather together school staff from our partner schools to share knowledge and to learn how to use Family Group to impact the wider school culture. In contrast, the FIG is a continuous improvement mechanism involving ex-Family Group parents/carers (plus one ex-pupil who is now an adult). In 2023/24, the FIG met termly to identify and develop Family Group “best practice”.
Financial review
Having become a registered charity on 18 May 2023, these are the second set of the company’s financial statements that have been prepared in accordance with the Statement of Recommended Practice (“SORP”) applicable to charities preparing their accounts in accordance with FRS 102.
As detailed in Note 4 of the financial statements, in the previous year, the company’s charitable status gave rise to a one-off taxation adjustment that primarily affected the net income for 2022/23. In addition, at 31 August 2023, the trustees concluded that there was no realistic possibility of certain prior year accruals and payments in advance resulting in a cash outflow. They therefore released the relevant amounts as exceptional items (see Note 5) of the financial statements). At the same time, they transferred an equivalent amount to a separate designated fund that is intended to fund the expenditure thought to be necessary over the next few years to clarify the strategic direction of the charity and to fund the costs of managing the succession of a number of key individuals who are currently expected to retire by 31 August 2026.
As at 31 August 2024, costs of £5,007 incurred during the year in developing the charity’s strategic development were transferred from general funds to designated funds.
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Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
Given the circumstances, the trustees believe that the charity’s financial performance in 2023/24 was satisfactory and, in this context, we would like to thank all our funders for their continuing support. All of them understood that, because of the cost of living crisis and the many challenges facing our actual and potential partner schools, we are operating in a very difficult environment and that delivering our strategic goals continues to be a challenge. Their commitment, flexibility and interest in our work are all greatly appreciated.
Because of the support we received, total income (before one-off items) at £393,199 was nearly 14% higher than in the previous year (£344,852) but an increased cost base meant that the “core” surplus for the year of £6,943 was similar to the equivalent prior year figure (£6,101).
General funds at 31 August 2024 of £121,504 (31 August 2023: £109,453) represent approximately 3.8 months' costs (31 August 2023: 3.9 months). Given the long-term nature of Family Group, in accordance with the company’s risk management strategy, the trustees are targeting to achieve general funds of between four and six months' costs and it is hoped that this will be achievable in the medium term.
Fundraising
The Chief Executive is responsible for fundraising and, in this role, he is supported by our small central team and by the company’s Treasurer. No funds are raised from the general public and no professional fundraisers are employed by the company.
Ten of our partner schools donated £69,500 from their own resources towards the costs of our services during the year. A further amount of £319,313 was generated from generous grants and donations from organisations that included the following funders:
Doctor Edward and Bishop King's Fulham Charity Hammersmith United Charities Inspire Hounslow John Lyon's Charity Kensington Prep School King's House School London Borough of Hounslow Prospero World St Paul's Girls' School The Girdlers' Company The National Lottery Community Fund The Tudor Trust
5
Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
Plans for the future
Our plans for the future are to continue to transform the lives of as many children as is practicable. Our priority is to continue to bring all of our ongoing 10 Family Groups up to full capacity and to continue to use our related activities (Parent Group, Food Project, CoPs and FIG) to broaden and deepen the benefits that we deliver. We are open to taking on new partnerships but we see 2024/25 as a year of consolidation rather than a year of significant growth.
Of course, funding will remain a major issue. However, many of our current funders have indicated that they will continue their support. Taking this into account, our financial target in 2024/25 is to break even and, although this will require additional funding over and above the commitments already made to us and/or to our partner schools, we believe that it is a challenging but achievable goal. In the circumstances and having regard to the level of reserves at 31 August 2024, the trustees are confident that the charitable company remains a going concern.
In terms of planning for subsequent years, the trustees would like the charity to grow as this would enable us to help more disadvantaged families. However, for the foreseeable future, we anticipate that our current and future partner schools will be very unlikely to be able to afford to invest the significant resources (both financial and non-financial) that are required to fully support our work. Consequently, growth implies the need for new funding sources and/or significantly increased income from charitable grants and philanthropic donations. In the current financial climate, it is clear that securing this income will be a major challenge.
During the year, the trustees have considered the charity’s medium term growth options in great detail - and, in that context, they are very grateful for the pro-bono consultancy support provided to the company’s Chief Executive by Cranfield Trust.
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 17 August 2010 and registered as a charity on 18 May 2023.
The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.
Trustees are appointed after an open recruitment process based on their skills, experience and commitment to the company’s charitable objectives. The trustees are the members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
All trustees give their time voluntarily and receive no benefits or expenses from the charity.
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Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
In October 2024, we were delighted to welcome Hendrix Hammond, an experienced consultant psychotherapist, as a trustee. Hendrix’s passion lies in helping people unlock their potential strengths and capabilities – and we look forward to harnessing his expertise to further improve the effectiveness of our work.
Sadly, in November 2024, Gavin Winters decided that, because of increasing family and work commitments, he was no longer able to continue as a trustee. As a senior educational professional and a longstanding supporter of Family Group, Gavin has contributed a great deal over many years and we shall miss his insights and guidance.
Transactions involving trustees
The various transactions involving trustees are described in Note11 of the financial statements. All these have been approved by the other trustees who consider them to be in the best interests of the charitable company.
Statement of responsibilities of the trustees
The trustees (who are also directors of Transgenerational Change Limited for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and then apply them consistently
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Observe the methods and principles in the Charities SORP
-
Make judgements and estimates that are reasonable and prudent
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State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Transgenerational Change Limited
Trustees’ annual report
For the year ended 31 August 2024
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 August 2024 was 7 (2023:7).
The trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
The trustees’ annual report has been approved by the trustees on 04 April 2025 and signed on their behalf by:
James Alexander
James Alexander Chair
8
Independent Examiner’s report
To the members of Transgenerational Change Limited
I report to the trustees on my examination of the financial statements of Transgenerational Change Limited (the charity) for the year ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Gary Howard FCA Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE
Dated: 04 April 2025
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Transgenerational Change Limited
Statement of Financial Activities (incorporating an income and expenditure account)
For the year ended 31 August 2024
| For theyear ended 31 August 2024 | ||||||
|---|---|---|---|---|---|---|
| Note Income from: Donations and legacies 2 3 3 3 4 5 6 6 6 6 4 7 Total funds carried forward Total funds brought forward Bank interest Exceptional items Total income Expenditure on: Taxation receivable Raising funds Total expenditure Net income for the year Charitable activities Food Project Family Group Graduate support Taxation payable Other expenditure Charitable activities Food Project Family Group Graduate support |
Unrestricted £ 11,695 40,069 3,391 - 4,386 101 - |
Restricted £ - 290,806 15,227 27,625 - - - |
2024 Total £ 11,695 330,875 18,618 27,625 4,386 101 - 393,300 21,444 318,569 18,618 27,625 - - 386,256 194,123 201,167 7,044 |
Unrestricted £ - 25,321 4,679 - 1,548 8,845 84,670 |
Restricted £ 4,000 271,384 17,566 20,354 - - - |
2023 Total £ 4,000 296,705 22,245 20,354 1,548 8,845 84,670 |
| 59,642 | 333,658 | 125,063 | 313,304 | 438,367 | ||
| 21,444 27,763 3,391 - - - |
- 290,806 15,227 27,625 - - |
20,034 734 4,679 - - - |
- 271,384 17,566 20,354 - 4,000 |
20,034 272,118 22,245 20,354 - 4,000 |
||
| 52,598 | 333,658 | 25,447 | 313,304 | 338,751 | ||
| 194,123 7,044 |
- - |
94,507 99,616 |
- - |
94,507 99,616 |
||
| 201,167 | - | 194,123 | - | 194,123 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 18a to the financial statements.
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Transgenerational Change Limited
Balance Sheet
Balance Sheet |
Balance Sheet |
Draft: 4 Apr | il 2025 15:51 | |
|---|---|---|---|---|
| As at 31 August 2024 | Company | no. 07347746 | ||
| Note £ Fixed assets: 12 13 Current assets: 14 - 373,235 373,235 Liabilities: 15 (172,769) 18a 79,663 121,504 Total unrestricted funds Restricted income funds Unrestricted income funds: Designated funds The funds of the charity: Total net assets General funds Creditors: amounts falling due within one year Net current assets Investment in subsidiary company Cash at bank and in hand Tangible assets Debtors Total charity funds |
2024 £ 699 2 |
£ 8,302 318,256 |
2023 £ 133 2 |
|
| 701 200,466 |
135 193,988 |
|||
| 373,235 (172,769) |
326,558 (132,570) |
|||
| 79,663 121,504 |
84,670 109,453 |
|||
| 201,167 | 194,123 | |||
| - 201,167 |
- 194,123 |
|||
| 201,167 | 194,123 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 04 April 2025 and signed on their behalf by:
James Alexander
Tim Curry
James Alexander Tim Curry Chair Trustee
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Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
-
1 Accounting policies
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a) Statutory information Transgenerational Change Limited is a charitable company limited by guarantee and is incorporated in England & Wales. The registered office address and principal place of business is 36, Buckingham Road, Petersham, Surrey, TW10 7EQ
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b) Basis of preparation The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
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Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
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c) Public benefit entity and judgements The charity meets the definition of a public benefit entity under FRS 102. The trustees do not consider that there are any judgements or sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
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d) Going concern Taking into account the continuing commitment of a number of our funders (including our partner schools) and having regard to the level of reserves at 31 August 2024, the trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
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e) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. income received from donors and charitable funders for a programme is spread over the period of that programme in accordance with a prudent assessment of the value of the services delivered. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
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f) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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g) Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which relates to those services is charged to the fund.
Unrestricted funds are grants, donations and other incoming resources received or generated for the charity's general purposes. Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
h) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds relate to the direct costs incurred by the charity in carrying out activities that have a fundraising purpose, together with associated support costs Expenditure on charitable activities includes the direct costs of delivering services undertaken to further the purposes of the charity, together with associated support costs
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
- i) Allocation of support costs
Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned to each activity based on an estimate of the appropriate amount attributable to that activity. Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.
- j) Tangible fixed assets Items of equipment are capitalised where the purchase price exceeds £100.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. A full year's depreciation is provided in the year of purchase. The expected useful life of the charity's computer equipment is three years.
- k) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
- l) Pensions Contributions payable by the company to the company's externally managed defined contribution pension scheme are recognised in the period to which they relate.
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Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
- 2 Donations and legacies
| Donations and legacies | ||||||
|---|---|---|---|---|---|---|
| Donations Family Group Income from partner schools The National Lottery Community Fund Income from other key funders Sub-total for Family Group Graduate support Income from partner schools The National Lottery Community Fund Income from other key funders Sub-total for Graduate support Food Project London Borough of Hounslow The National Lottery Community Fund Income from other key funders Food stall donations Sub-total for Food Project Prior year provisions no longer needed Taxation receivable Total income from charitable activities Income from charitable activities Grants receivable - The Tudor Trust Tax recoverable (including interest |
Unrestricted £ 11,695 - |
£ - - Restricted |
2024 Total £ 11,695 - |
Unrestricted £ - - |
£ - 4,000 Restricted |
2023 Total £ - 4,000 |
| 11,695 | - | 11,695 | - | 4,000 | 4,000 | |
| Unrestricted £ - - 40,069 |
£ 111,500 73,366 105,940 Restricted |
2024 Total £ 111,500 73,366 146,009 |
Unrestricted £ - - 25,321 |
£ 100,167 82,717 88,500 Restricted |
2023 Total £ 100,167 82,717 113,821 |
|
| 40,069 - - 3,391 |
290,806 8,000 7,227 - |
330,875 8,000 7,227 3,391 |
25,321 - - 4,679 |
271,384 8,000 9,566 - |
296,705 8,000 9,566 4,679 |
|
| 3,391 - - - - |
15,227 24,750 1,907 - 968 |
18,618 24,750 1,907 - 968 |
4,679 - - - - |
17,566 19,000 217 - 1,137 |
22,245 19,000 217 - 1,137 |
|
| - | 27,625 | 27,625 | - | 20,354 | 20,354 | |
| 43,460 | 333,658 | 377,118 | 30,000 | 309,304 | 339,304 | |
| 2024 Total Unrestricted £ 101 - |
2023 Total £ 8,302 543 Unrestricted |
|||||
| 101 | 8,845 |
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3 Income from charitable activities
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4 Taxation receivable
The company became a registered charity in May 2023 and, in June 2023, HMRC accepted that the company was also a charity for tax purposes. Subsequently, in accordance with the rules for overpayment relief, tax previously paid in the preceding four years was refunded to the company. Together with related interest, the total repayment amounted to £8,403. Of this amount, £101 of interest related to the year beginning 1 September 2023.
Following HMRC recognition, the charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. Consequently, in the year ended 31 August 2023, prior year provisions for corporation tax and deferred tax amounting to £543 were no longer needed. No corporation tax is payable on the charities activities in the year ended 31 August 2024.
5 Exceptional items
| Exceptional items | ||
|---|---|---|
| Accruals Deferred income |
2024 Total £ - - Unrestricted |
2023 Total £ 18,000 66,670 Unrestricted |
| - | 84,670 |
In the previous year, exceptional items represented the write back of prior years' accruals and deferred income that, at the year end, were no longer considered likely to result in cash outflows.
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Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
6a Analysis of expenditure (current year)
| Staff costs (Note 9) External supervision Delivery costs Evaluation Recruitment costs Marketing costs Other support costs Professional costs Support costs Governance costs Total expenditure 2024 Total expenditure 2023 |
Raising funds £ 13,539 - - - - 4,000 - - 17,539 3,589 316 21,444 20,034 |
Charitable activities | Charitable activities | Charitable activities | Governance costs £ 1,893 - - - - 68 3,740 5,701 - (5,701) - - |
Support costs £ 54,922 - 708 - - - 9,014 - 64,644 (64,644) - - - |
2024 Total £ 351,176 8,750 7,221 2,157 130 4,000 9,082 3,740 386,256 - - 386,256 |
2023 Total £ 304,212 6,000 5,772 410 - 6,874 9,483 2,000 |
|---|---|---|---|---|---|---|---|---|
| Family Group £ 244,867 8,750 4,647 2,157 130 - - - 260,551 53,316 4,702 318,569 272,118 |
Graduate support £ 13,979 - 1,248 - - - - - 15,227 3,116 275 18,618 22,245 |
Food Project £ 21,976 - 618 - - - - - 22,594 4,623 408 27,625 20,354 |
||||||
| 334,751 - - |
||||||||
| 334,751 |
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Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
6b Analysis of expenditure (prior year)
| Staff costs (Note 9) External supervision Delivery costs Evaluation Recruitment costs Marketing costs Other support costs Professional costs Support costs Governance costs Total expenditure 2023 |
Raising funds £ 12,820 - - - - 3,000 - - 15,820 3,942 272 20,034 |
Charitable activities | Charitable activities | Charitable activities | Governance costs £ 2,545 - - - - - - 2,000 4,545 - (4,545) - |
Support costs £ 52,545 - - - - 3,874 9,449 - 65,868 (65,868) - - |
2023 Total £ 304,212 6,000 5,772 410 - 6,874 9,483 2,000 |
|---|---|---|---|---|---|---|---|
| Family Group £ 203,317 6,000 5,152 410 - - - - 214,879 53,544 3,695 272,118 |
Graduate support £ 17,366 - 200 - - - - - 17,566 4,377 302 22,245 |
Food Project £ 15,619 - 420 - - - 34 - 16,073 4,005 276 20,354 |
|||||
| 334,751 - - |
|||||||
| 334,751 |
15
Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
- 7 Other expenditure
| 7 Other expenditure |
||
|---|---|---|
| 8 Legal and professional charges Director's remuneration (including pension contributions) Net income for the year Independent Examiner's Fee (including VAT): This is stated after charging: Depreciation |
2024 £ - |
2023 £ 4,000 |
| 2024 £ 483 2,000 - |
2023 £ 133 2,000 10,885 |
In the previous year, the charity's Chief Executive, Mark Griffiths, was a director of the company until his resignation on 4 November 2022.
9 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows:
| Staff costs were as follows: | ||
|---|---|---|
| Salaries and fees payable Social security costs Employer’s contribution to defined contribution pension schemes |
2024 £ 315,901 19,682 15,593 |
2023 £ 274,319 16,340 13,553 |
| 351,176 | 304,212 |
The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:
| 2024 | 2023 | ||
|---|---|---|---|
| No. | No. | ||
| £60,000 | - £69,999 | 1 | 1 |
The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £121,748 (2023: £116,382).
The charity trustees were not paid for their services as trustees and did not receive any other benefits from employment with the charity in the year (2023: £nil). Except as disclosed in Note 9, no charity trustee received payment for professional or other services supplied to the charity during the year (2023: £nil).
Expenses reimbursed to trustees during the year amounted to £nil (2023: £nil).
10 Staff numbers
The average weekly number of employees during the year was 16 (2023:14). As most of these were part time employees, this amounts to approximately 7.1 full time equivalents.
16
Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
11 Transactions involving trustees
At the request of the Board, Nancy Graham, who is a highly qualified and experienced psychotherapist, provided independent supervision and ad-hoc advice to the therapists working for the company and its trading agent. Fees and expenses paid for these services during the year amounted to £8,750 (2023: £6,000). During the year, Carol Halliwell received £1,150 for professional services provided to the company (2023: £500).
Sarah Fletcher is the High Mistress of St Paul's Girls School ("SPGS") and, in 2023, Gavin Winters was the Headteacher of The Cedars Primary School ("Cedars"). During the year, SPGS made an unrestricted donation of £6,000 to the company and Cedars paid £4,000 towards the cost of a Family Group at that school.
Accruals include an amount of £15,000 payable to Tim Curry in connection with prior years' services provided by him to the company.
12 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| The above assets are used for charitable purposes. At the start of the year Charge for the year Depreciation Cost At the start of the year Additions Disposals At the end of the year Disposals At the end of the year Net book value At the end of the year At the start of the year |
Computer equipment £ 2,182 1,049 (1,360) |
| 1,871 | |
| 2,049 (1,360) 483 |
|
| 1,172 | |
| 699 | |
| 133 | |
- 13 Investment in subsidiary company
| Investment in subsidiary company | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Cost at the start and the end of the year | 2 | 2 |
With effect from 31 August 2010, the company acquired the entire share capital (two £1 ordinary shares) of The School & Family Works Limited ("SFW") from Mark Griffiths for a consideration of £2. The company also entered into an agreement with SFW that, from that date, SFW would operate as a trading agent of the company. Consequently, all results of SFW since 1 September 2010 are recorded in the accounts of the company. All of SFW's assets at 31 August 2010 were transferred to the company at their net book value and the company agreed to meet all SFW's liabilities at that date as they fell due.
SFW was incorporated in the United Kingdom on 20 May 2009.
As it is now an agent of the company, SFW no longer trades in its own right and it is a dormant company with share capital of £2, offset by an amount due from the company of £2. Consolidated accounts of the group have not been prepared as these would be virtually identical to the accounts of the company. 17
Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
| For the year ended 31 August 2024 | ||
|---|---|---|
| 14 15 Taxation recoverable Taxation and social security Creditors: amounts falling due within one year Accruals Deferred income (note 16) Due to Mark Griffiths Amounts due to subsidiary company Debtors |
2024 £ - |
2023 £ 8,302 |
| 2024 £ 5,000 5,514 2 25,003 137,250 |
2023 £ 5,000 5,771 2 21,547 100,250 |
|
| 172,769 | 132,570 |
16 Deferred income Deferred income comprises grants and donations received for activities that are scheduled to take place in later periods
| later periods | ||
|---|---|---|
| Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year |
2024 £ 100,250 (100,250) 137,250 |
2023 £ 146,837 (146,837) 100,250 |
| 137,250 | 100,250 |
17a Analysis of net assets between funds (current year)
| Analysis of net assets between funds (current year) | ||||
|---|---|---|---|---|
| Net assets at 31 August 2024 Tangible fixed assets Investments Net current assets |
General unrestricted £ 699 2 120,803 |
Designated £ - - 79,663 |
Restricted £ - - - |
Total funds £ 699 2 200,466 |
| 121,504 | 79,663 | - | 201,167 |
18
Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
17b Analysis of net assets between funds (prior year)
| Total restricted funds Total designated funds General funds Net assets at 31 August 2023 Strategic development Unrestricted funds: Designated funds: Total funds Tangible fixed assets Investments Net current assets Graduate support Food project Movements in funds (current year) Restricted funds: Family Group Total unrestricted funds |
At 1 September 2023 £ - - - |
General unrestricted £ 133 2 109,318 |
Designated £ - - 84,670 |
Restricted £ - - - |
Total funds £ 133 2 193,988 |
|---|---|---|---|---|---|
| 109,453 | 84,670 | - | 194,123 | ||
| Income & gains £ 290,806 15,227 27,625 |
Expenditure & losses £ (290,806) (15,227) (27,625) |
Transfers £ - - - |
At 31 August 2024 £ - - - |
||
| - | 333,658 | (333,658) | - | - | |
| 84,670 | - | - | (5,007) | 79,663 | |
| 84,670 | - | - | (5,007) | 79,663 | |
| 109,453 | 59,642 | (52,598) | 5,007 | 121,504 | |
| 194,123 | 59,642 | (52,598) | - | 201,167 | |
| 194,123 | 393,300 | (386,256) | - | 201,167 |
18a Movements in funds (current year)
The narrative to explain the purpose of each fund is given at the foot of the note on the next page.
19
Transgenerational Change Limited
Notes to the financial statements
For the year ended 31 August 2024
18b Movements in funds (prior year)
| Movements in funds (prior year) | |||||
|---|---|---|---|---|---|
| Total restricted funds Total designated funds General funds Unrestricted funds: Designated funds: Strategic development Total unrestricted funds Total funds Family Group Restricted funds: Graduate support Food Project |
At 1 September 2022 £ - - - |
Income & gains £ 271,384 17,566 20,354 |
Expenditure & losses £ (271,384) (17,566) (20,354) |
Transfers £ - - - |
At 1 September 2023 £ - - - |
| - | 309,304 | (309,304) | - | - | |
| - | - | - | 84,670 | 84,670 | |
| - | - | - | 84,670 | 84,670 | |
| 94,507 | 125,063 | (25,447) | (84,670) | 109,453 | |
| 94,507 | 125,063 | (25,447) | - | 194,123 | |
| 94,507 | 434,367 | (334,751) | - | 194,123 |
Purposes of restricted funds
Restricted funds for each charitable activity are derived from income that has been given for specific projects related to that activity. Income from schools is restricted to activities at that particular school and other income that the funder has specified is for multiple activities is allocated to individual activities in a way that, in the opinion of the trustees, reflects the costs incurred in carrying out that particular activity.
Purposes of designated funds
In the year ended 31 August 2023, the trustees allocated the funds that became available from the writeback of amounts previously recognised as liabilities to a designated fund that they intend to use to invest in the resources necessary to clarify the strategic direction of the charity and to manage succession. During the year, £5,007 was invested in specific strategic projects and this amount has been transferred from designated funds to general funds.
- 19 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
20