•p4
NoR￿00D
Taking on life together
NORWOOD
SCHOOLS
LIMITED
(A Charitable Company Limited by Guarantee)
Trustees, Annual Report and
Financial Statements
For the year ended 31 March 2024
Patron HM King Charles Ill.
Registered Charity No. ioS9050
Registered Company Number: 0051690?
e1Gccnf￿￿t
FUNDFIAISI
REGULATOR
EMPLUYE

Contents
Page
Charity Information
Trustees, Annual Report (incorporating the Strategic Report)
4-16
Independent Auditor's Report
17-20
Statement of Financial Activities
21
Balance Sheet
22
Notes to the financial Statements
23-37

Charity Information
Trustees and Directors
The directors of the charity are its trustees for the purpose of charity law.
The trustees that served during the financial year and since the year end
are Miles Webber, Ben Freeman and Tim Isaacs
Senior LeadershipTeam
Chief Executive Officer
Naomi Dickson
Director of Finance and Corporate Services
Patrick Murphy (to 31.10.23)
Robert Morton (Interim) (from 21.11.23 to 31.5.24)
Heather Lees (Interim) (from 17.6.24)
Director of Fundraising. Communications and Community Engagement
Liz Jessel
Director of Services and Development
Hannah Barnett
Director of Children and Family Service5
Emma Gray (from 22.4.24)
Director of Human Resources
Steve Bennett (to 16.6.23)
Director of Peopleand Culture
Steve William5 (Interim) (from 1.8.23 to 19.1.24)
Tarrance Ryder-Downes (from 27.11.23)
Director of Risk and Compliance
Phi lippa Shirtcliffe
Director of Major Projects
Caroline Taylor
Company Secretary
Patrick Murphy (to 1.10.23)
Nick Bernstein (from 1.10.23)
Auditors
Haysmacintyre LLP
Investment Managers
CCLA Investment Managementand Sarasin & Partners
Bankers
Barclays Bank plc
Principal and
Registered Office
Broadway House, 80-82 The Broadway, Stanmore, HA7 4HB

Trustees, Annual Report (incorporating Strategic Report)
The trustees are pleased to present their annual report and audited financial statements for the year
ended 31 March 2024. These statements comply with the Charities Act 2011 and the Charitie5
(Protection and Social Investment) Act 2016, the Companies Act 2006, the Memorandum and
Article5 of Association, and the 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 - FRS102 (effective 1 January 2019).
About Norwood
Norwood empowers Jewish people of all ages with neurodiversity or neurodevelopmental
di5abilitie5, along with their families, to lead fulfilled lives in communities that value them. Founded
in 1795, Norwood is the oldest Jewish charity in the UK and although the ways we work continually
evolve, our motivation remains the same: to do everything we can to help the people we Support live
thei r best possi ble live5.
Our Services
Each year, Norwood supports the needs of more than 2,500 people, including some of the Jewish
community's most vulnerable children, adults and families. Oursector-leading services celebrate our
Jewish culture and have Jewish valuesat their heart butare open to all who need our support.
Children & Family Services
The entry point to our services, where we continue to offer advice, support and signposting to the
community IS through our advice line. Ourchildren and Family provision is based in Northwest
London. We offer short break facilities for families of children with complex needs, and a range of
therapeutic services. Our group work is aimed at the whole family, including parenting programmes
and support groups forsiblings and parents of children with learning disabilities.
We are proud to run a range ofsupport Groups including Parenting Courses, Key worker support to
provide cohesive, holistic Support for the child and their family, Unity our Short breaks holiday
provision, and Inbetweeners, our Sunday recreational transition group for young adults aged 16-25
years with learning disabilities.
Our broader group support and courses include Rainbow (for the parents of primary school-aged
children with a range of need). Rainbow Plus(for the parents of secondary school-aged children with
a range of need). Exploring Autism (a 6-week parenting programme for parents and carers of
children with an early diagnosis of autism)" 2Gether Group (parenting drop in). Twins and More
(multiple birth drop in)" and Afternoon Homework Club (expert support for schoolchildren who are
struggling to complete their homework independently).
Our Psychotherapy and Counselling service delivers individual and group psychotherapy for
children/young people, in schools or in the community. individual psychotherapy for young adults
(18-25) with learning disabilities and autism-
psychotherapeutic parenting support- adult
counselling- and a range of groups designed to build resilience and increased Social and emotional
competence- and sessions to enable children with ongoing difficulties to explore their experiences in
a safe and non-judgemental space.

Adult Services
Our work with adults with learning disabilities and autism is core to our service. It is geared to
providing the individual care and support that each person need5 either through residential care or
supported living accommodation services. in London and in Berkshire.
Residential Care 15 for people who have a local authority-funded care package to provide person-
centred 24/7 specialist care combined with support in a residential care setting.
Supported Living Accommodation provides for independent tenancy agreements separate from an
individual's care arrangement, paying rent funded from a variety of benefits and local authority
provision which support their living requirements.
Beyond accommodation. our adult services include the provision of Assistive Technology,
promoting independence and enhancing day to day living using technology. This takes the form of
telecare systems to alert nighttime support staff to a resident's health risks without the need for
intrusive nighttime check5, Augmentative and Assistive Communication devices to help people
communicate and control aspects of their environment, Eye Gaze technology to enable people with
barriers to communication to access environmental control systems, as well as to use laptops, music
systems, toy5 and many otherdevices, and devicesto help facilitate communicate and support early
screen engagement skills" Complementaryservices- promoting good physical and mental wellbeing
through education and access to health services including equine and hydrotherapy- Transition
services, providing information, guidance, and advocacy for parents of 16-25 year-old5 With a
learning disability and/or autism, to help them navigate the supportand policy landscape- Benefits
and welfare advice- and Jewish cultural activities.
Our Highlights, Challenges and Achievements in the year
Values, Strategy and Governance
We completed a review of Nonvood's valuesthrough a consultation which included staff, volunteers,
people we Support and their families. We are proud of our new values which reflect our foundations
and behaviour: Kindness. Respect. Belonging and Empowerment A Series of interactive sessions
with our staff have enabled discussions about the application of each value to our work supporting
people with learning disabilities and autism across the range of our services. We are committed to
embodying our values across our front line and support services, and beyond through use of photos,
videos, devices, group and one to one discussions to ensure that our approach remain5 fully
inclusive.
We embarked upon an ambitious review of our strategywhich enabled us to clarify our vision, mission
and activities and give us plans for the three years ahead, seeking the views of a range of
stakeholders from acrossthe organisation.as well asservice users, family membersand supporters.
Our new strategy will take Norwood on its future journey, ensuring that we have a clarity of mission
and excellent quality services which are designed around the needs of the community we support.
We conducted a full-scale review of our governance with support from Bayes Business School, the
recommendation5 of which will be implemented in 2024/5.
New Supported Living Service
We successfully reopened and recommissioned our supported living facility Sarah Ronson House,
for three young autistic men.

Educational Services
Following an extensive reviewon ourfuture Children & Family service provision, a decision wastaken
not to renew the current Statutory and private educational services beyond the end of the 23/24
academic year.
Staff Remuneration
A new pay strategy improved our frontline staff pay to above the National Living Wage
The Board of Trustees approved a recommendation by the Senior Leadership Team to maintain this
position for 24/25, and in April 2024 hourly rates were increased by a further 8.50h, keeping frontline
wage rates ahead of the National Living Wage. Additionally, we have demonstrated our commitment
to supporting our non-frontlinestaff atthischallenging timeand to ensuring thattheirsalaries reflect
their hard work by increasing these salaries by 3 %. Our commitment to increasing pay come5 at a
very challenging time for charities and forfundraising.
We have worked throughout the year to streamline pay for support workers and have also increased
the rate paid for sleep-ins. These measures. along with improved induction and professional
development opportunities, are designed to ensure that Norwood becomes an employer of choice
and that our staff retention rate improves to reflect this, particularly amongst our support worker
cohort.
Not only have these measures improved both recruitment and retention and supported staff with the
cost-of-living crisis, but they have also enabled us to considerably reduce the amount of agency staff
Used in our services, Saving almost £1m in the year.
Fee renegotiation program
We reviewed the care packages of all our residents and have embarked on an ambitious three-year
fee review, due to be completed in 2025/6. This is to ensure that we are receiving a fair fee for the
support we offer for each of the people we support from each of the 56 Local Authoritie5 we work
with. In 2023/24 it resulted in an additional £4m of income for the charity.
Staff Satisfaction
Over the past year several activities have continued to focus on enhancing staff satisfaction and
retention. We enhanced our benefits, including increasing sleep-in ratesand accesstothe Blue Light
Card discount scheme. We focused on delivering mental health first aid, wellbeing and resilient
training for managers and refreshed long-service awards to recognise outstanding commitment and
loyalty. We also recently launched a new management development programme.
Norwood achieved a 610/0 average positive response rate in the Birdsong Charity survey. The results
enabled u5 to benchmark where we stand against other organisations in the sector, as well as
highlighting some key areas that we can collectively work on to improvethe organisational culture at
Norwood.
Future prioritie5 include a review of our pay and reward approach to help put in place an effective and
competitive policy- further enhancing our benefit and recognition scheme. to include an increase to
Support Worker annual leave entitlement and new staff awards" Integrating new organi5ational
values and behaviour5 Wlthin our recruitment and onboarding.

Ravenswood Village
We expect that the process and negotiations to engage with a third-party provider who is interested
in taking over the operation of services at the Village will take some months to progress and we are
continuing to keep both staff and families of people supported at the Village updated.
In the meantime, we remain fully committed to providing the highest Standard5 of care for the
residents at Ravenswood Village. We welcomed two new residents into the Village in 2023/24, with
others expected during 24/25. We continue to review the needs and care plans of existing resident5
on an ongoing basis, as part of our commitment to providing person-centred care and to maximise
capacity in the future. Ravenswood Village held its annual Summer Fete in May which was a
celebration of it5 service5 and a chance for Staff, families and residents to come together.
Our Strategic Priorities and Focus for 2024/2025
The implementation of the Strategic and governance reviews will form part of the 3-year strategy that
will support Norwood in developing a bold plan to support our vision. The work on the strategy will
commence fully from January 2025 and will see Norwood building on its strengths and enhancing its
offerto meetthedemand identified in our research and outreach.we will focuson improving ourfront
door entry point to service5, broadening our holistic offerto children and families, strengthening the
transition pathways between children and adults, and enhancing our offer to adults in relation to
residential and wider provision. Wewill focusonthe need to improve and grow our estate5 to provide
the most appropriate accommodation for the people we support. To underpin the delivery of the
strategy we will strengthen our organisational foundations- the culture, infrastructure, systems and
policies that make Norwood the most dynamic. well led organisation it can be. The strategy will be
delivered over the next three financial years.
The strategy also includes the commitment of the Board of Trustees to continue to engage with a
third-party provider who is interested in taking over the operation of the 5ervice5 at Ravenswood
Village.
The governance review will change the committee structure that supports the Board of Trustee5 and
the scheme of delegation, and ensure that we are working to best practice, in line with the Charity
Commission Code of Governance.
Statement on s.172(1) of The Companies Act 2006and s.17 of The Charities Act 2011
During the course of their duties, the trustees have had full regard for their obligations in promoting
the success of the organisation. Norwood'5 detailed charitable objects are contained within its
memorandum and articles and in keeping with these, the Trustees set strategic priorities ensure that
the charity's activitie5 are carried out for the public benefit. The Trustees also confirm that they have
had full regard to thecharitycommission'sgeneral guidance on public benefit, 'Charitiesand Public
Benefit" This has been further clarified in the following sections of this report:
Our Services
Our Highlights, Challenges and Achievements in the year
Employee Engagement
Ourvolunteers
Business Relationships
Energy Efficiency Measures Undertaken

Employee Engagement
We carried out an inaugural staff engagement survey in March 2023. The results enabled us to
benchmark where we stand against other similar organisations and identify areas that we can
improve. As a result, we upgraded our intranet to ensure that we provide helpful online advice and
information, as part of our commitment to empowering staff to perform their roles. The review of our
organisational values engaged all stakeholders including staff across the organisation to determine
the valuesthat wesubscribeto in ourcollective goal to enablethe people wesupportto livetheir best
lives. We also reintroduced long-service awards early in 2024 to show our appreciation for the many
staff members who have chosen and continue to choose to remain with Norwood.
Further steps taken by the organi5ation toward improving staff wellbeing include training and
introducing a cohort of Mental Health First Aiders- a vital initiative that equip5 employee5 Wlth the
knowledge and skills to recognise and respond to mental health concerns among their colleagues.
We launched a'Love to Manage People, Programme to support our line managers to continue their
professional developmentand to undertakethefull rangeof peopleengagement responsibilities Wlth
more confidence, as part of a wider 18-month People Transformation strategy. This includes offering
managers the opportunity to undertake resilient managers training, delivered by trainers from St.
John's Ambulance.
We inevitably have work to do to improve how information is communicated across the organisation
to help connect our staff with organisational and departmental updates. but we recognise how
important our staff are to the charity.
Our Volunteers
By the end of the 2023/24 financial year, we had 173 volunteers actively engaged in supporting
service and cultural activity delivery to the people Norwood supports across adult, children and
family services, in addition to 99 individual enquiries from new potential volunteers. Of these
enquiries, 55 volunteer5 were successfully recruited and placed in suitable opportunities.
Overall, the number of active volunteers decreased during this period, largely due to service c105ures
in particular the last two remaining charity shops which closed in January 2024, and which were
largely staffed by volunteers.
number of corporate volunteering days were organised across adult services in London and
Berkshire, with organisation5 including National Grid. Wickes, BD UK, Carbonxgen and Johnson &
Johnson, and further to a corporate volunteering activity that was successfully run with B&Q in the
previous financial year. a grant of £10,000 was received.
100 volunteers were recruited to support at the annual Norwood Carnival in May, with a further 15
volunteers supporting at Norwood Night in December. in addition to regularJewish cultural activities
being delivered in our homes by a team of 71 volunteers recruited from local synagogues and
communities.
We are so grateful to all our volunteers for the time that they give up and for all that they do for us
and for the people we support.

Business Relationships
Norwood values the relationships it has with all the local authorities around the UK and its
suppliers, holding multi-year contracts with key suppliers. Norwood reports its performance and
practices in line with reporting requirements.
Financial Review
The operating surplus for the 2023124 financial wa5 £03m (2023: £0.4m), before recognising
unrealised revaluation losses of £0.2m (2022: losses £0.4m). This included a £5.3m grant (2023:
£9.om) received from the parent company
Norwood Ravenswood
which operates as the
fundraising arm of the group of charities. At the end of the financial year, Norwood Schools
generated £23.1m (2023: £18.6m) income from its core charitable activities and expended £28.9m
(2023: £28.Om) on core services, reflecting a funding shortfall of £5.8m (2023: £9.4m). Whilst some
of the charity's activities are chargeable and funded by commissioning authorities such a5 the adults
learning disability care and aut15m service5, the charity relies on voluntary donations to deliver it5
children and families support services and meet the funding gap in statutory services.
Whilst Norwood Schools. statutory funding gap for adult social care persists, the charity made
significant progre55 in improving the fees its commissioning authorities pay through a Structured fee
renegotiation programme. The uplift in fees offered by the local authorities generated an additional
£4m. Without significant annual increases to fees to cover increases to frontline staff wages and
other inflationary pressure5 the funding gap is expected to continue to grow. We continue to work
c105ely with commissioning authorities to rectify this. Norwood will continue to pursue operational
efficiencies and maximise limited resources.
As previously disclosed Norwood took the decision in 2021 to close its retail operations. The
cessation of retail activities was completed in January 2024 with the c105ure of the two remaining
shops. These two Shops generated income of £0.2m (2023: £0.2m).
Income
Total income generated in the year was £29.8m (2023: £28.8m). a £1.Om increase on the prior year,
substantially due to successfully securing annual increase5 from most local authoritie5. 77010
(£22.8m) of the charity's income came from Adults Learning Disability Services through its
supported living and residential accommodation services. 20% (£6.om) came from donations and
grants largely from the parent company while the remaining 3% came from Children and Families
Services, investment and other income including our retail shops.
Expenditure
Total expenditure in the year was £29.5m (2023: £28.4m) of which 870/0 (£25.6m) was expended on
Adults Learning Disability Services. 11 % (£3.1m) wa5 expended on Children and Families Service5,
and the remaining 20/0 on generating voluntary, trading, and investment income. Included in the cost
of services is £5.2m (2023: £4.7m) support and governance costs. Staff costs (£21.6m' (2023:
£20.4m), representing 730/0 of the expenditure, remains the largest Spend of the charity. Efficiencies
in staffing structures were achieved to counter the cost of agency staff which grew to £2.7m (2023:
£3.6m).
Going Concern
These financial statements have been prepared on a going concern basis. The majority of Norwood
Schools. income is secure as it arises from statutory sources. However, we have modelled a 40/0 and
6010 reduction in statutory income due to attrition rates. with 6% being an extreme case. The

forecasting performed and 5UPPOrt in the form of an intercompany grant from the parent charity
endorses the accounts being prepared on a going concern basis.
Norwood Ravenswood intends to support Norwood Schools Limited for at least 12 months from the
date of approval of the statutory financial statements for the year ended 31 March 2024 and has the
liquidity to do so. The trustee5 considerthis uncertainty notto be material and hence do not consider
the charitiesability to continue as a going concern to be at risk forat least12 months from the signing
of the accounts. Accordingly, the trustees have prepared these accounts on a going concern basis.
Reserves Policy
An important role for trustees is to manage the long-term sustainability of the charity. Norwood
Schools, reserves policy sets out the basic principles that should-
demonstrate to beneficiaries, commissioners, funders and the public, Norwood School'5
resilience and capacity to manage unforeseen financial difficulties.
give voluntary funders an understanding of why funding is needed to undertake various
projects especially where there are restrictions as to the application of funds.
give assurance to lenders and creditors that Norwood School can meet its financial
commitments.
give confidence to funders and commissioners by demonstrating good stewardship and
active financial management.
manage the risk to Norwood's reputation of holding substantial unspent funds at the year-
end without an explanation or insight into its capital commitments.
The trustees calculate the free reserves at Group level due to how the parent and subsidiary entities
operate. Norwood Schools Limited acts as the operating entity within the Group structure which the
parent company, Norwood Ravenswood, generates voluntary income to meet the funding gap and
support the operations of the charity undertaken through Norwood Schools. The Group'5 free
reserve5 IS the unrestricted income fund that is freely available after taking account of the restricted
funds that have been donated and earmarked for specific project5. Understanding the nature of the
funds allows trustees to identify unrestricted funds which can be spent on the core activitie5 of the
charity. As at 31 March 2024, unrestricted reserves were £27.9m whi15t the free reserve5 of Norwood
Schools was £2.7m. However, the free reserves for the Group was £9.4m (2023: £5.3m).
Free Reserves for Norwood Schools Limited
31-Mar-24
31-Mar-23
£m
£m
Group net asset5 (Total reserves)
Less restricted funds
33.4
33.2
(5.5)
27.9
(6.0)
27.2
Unrestricted funds
Less unrestricted fixed assets
(18.5)
(6.7)
(19.3)
(7.0)
Less Investment property
Free Reserves
io

Free Reserves for the Group
31-Mar-24
31-Mar-23
£m
£m
Group net assets (Total reserves)
Less endowment funds
46.1
42.9
(2.0)
(5.6)
(1.9)
(6.0)
Less restricted funds
Unrestricted reserves
38.5
35.0
Less unrestricted fixed assets
(18.7)
(10.4)
(19.7)
(10.0)
Less Investment property
Free Reserves
The trustees have set a target range of free reserves for the Group of 3 months or more of its annual
expenditure, being £7.4m. Free reserves are over the target set, in addition two thirds ofthe charity's
income is from statutory sources and Norwood has sufficient liquidity within its investment portfolio
of £10.2m to meet its working capital requirements for the foreseeable future.
Investment Policy and Performance
Norwood Schools holds investments to generate income for the furtherance of its charitable
activities. As part of the trustees, diversification strategy. two fund managers are appointed to
manage it5 investment portfolio.
The trustees understand that to generate returns, in the longer term, in excess of the rate of inflation
and net of the total costs associated with managing and operating an investment fund, it will be
necessary to expose the portfolio to a degree of risk. The trustees, risk appetite for all funds IS
medium risk and the charity's investment policy mandates that any decision5 taken by its investment
managers are consistent with its social care policie5. The Board of Trustees has delegated the
regular monitoring of investment performance and ethical objectives to the group's Investment
Committee.
At the end of the financial year, Norwood Schools portfolio was valued at the 31 March 2024 at £1.6m
(2023: £1.4m).

Principal Risks
The Board of Trustees believe that the principal risks impacting the charity at the current time are
as follows:
Risk Title
Existing Treatment and Mitigating Actions
Uncertainty over the future of
Raven5wood Village
Maintaining close engagement with potential partners
Working collaboratively with regulators and local
authorities where appropriate
Continue with a 'busine5s as usual, approach across the
site to ensure safe, high-quality services and ensuring
property is maintained appropriately
Failure to recruit or retain staff
New people and culture strategy included within
transformation plan
Carrying out staff satisfaction surveys and acting on the
results
Providing pay rise5 to ensure that existing Staff wish to
stay with the organisation and to attract new joiners
Fundraising income lower than
required
New Fundraising committee established
New Trustee appointed with wide experience of fund
raising
External consultant appointed to develop fundraising
strategy
Commissioned fee income is
insufficient
Fee recovery project established in 2023-24 raised
additional £4m in statutory fees for commi55ioned care
hours from local authorities
Project is continuing in 2024/25
Wider project commenced to review operational efficiency
and reducing central overhead costs
Adequate fire prevention and
evacuation in the event of an
incident
Fire risk assessments developed
Carry out regular fire evacuation tests
People we support have individual Person Emergency
Evacuation Plans
Built
environment
regularly checked to
compliance with regulations
ensure
Compliance and Operational Risk Management
Riskis inherentin ouroperationsand thedecisions made in pursuitof ourcharitable goals. The Board
15 responsibleforthe nature and extentof the principal risks that we are willing to take. It reviews the
principal risks to the organisation and ensures that risks are effectively managed through our
governance structure.
We have a comprehensive risk management framework to identify and manage financial, strategic,
operational, and regulatory risks that may impact our ability to meet Norwood's objectives. Our risk
management procedures are benchmarked against best practice found within social care providers
12

and other not-for-profit organisations. In 2023-24 we have been reviewing our corporate and
departmental risk registers and will be working with RSM, our internal auditors to ensure Norwood is
fully identifying, analysing and managing any uncertainties as we operationalise our new strategy.
These risks are managed on a day-to-day ba515 by the Senior Leadership Team and over-seen by the
Audit and Risk Committee on behalf of the board.
Quality and Compliance
By the end of the financial year 2023-24 all our services were rated 'Good' or 'Outstanding' by the
CQC. We had two inspections under the former CQC inspection framework, our London Supported
Living services retained its 'Good' rating and our residential home Carlton Avenue, obtained an
'Outstanding' rating from CQC with the inspector highlighting the positive and inclusive culture
within the service and the use of a5515tive technology that empowers people to live their best live5.
The report specifically highlighted.'The service continuou51yexplored, introduced. and used various
digit31 communication tools to enable people to be more involved and to be more included in making
decisions about their care. This ensured thatpeople live in an inclusive environmentand were able to
clearly communicate their needs with staff and others. For example, the service purchased an
alternative and augmentative (enhancing) communication (AAC) App. This supported people who
cannot speak or who have unclear speech to communicate more clearly and tell staff what help they
required. The service introduced 'OrCam' which is asslstive technology which can be used bypeople
who were visually impaired to identify objects that they had difficulty seeing, reading or recognising.
This helped one person in particular and had a big impact on the person becoming le55 anxious and
being more involved in the day to day running of the service.
As CQC have launched their new single assessment process we are supporting managers to prepare
for inspection under the new approach.
The launch of the electronic care records project in 2024 has seen the roll out of care planning
software 'Nourish' to our Adult Services. This has been fully embraced by our staff and with the
project due to complete in the Autumn of 2024, wewill be seeking to develop understanding and use
of the system to capture outcomes and feedback from the people we Support, families and staff.
Safeguarding
In 2023 we commissioned the Ann Craft Trust to carry out a strategic review of our safeguarding
processes. This involved meeting with staff, volunteers, people we support and trustees and visiting
services across London and Berkshire. The report highlighted the work that had been undertaken in
the previou5 years to make safeguarding personal and developing an open and transparent culture.
and the recommendations will be enacted during 2024-25. There have been no notifications to the
charity commission in 2023-24 in relation to safeguarding and we continue to track and report all
concerns and share themes and trends with Trustees via the Safeguarding Group.
Health and Safety
In 2024, the Senior Leadership Team all completed the IOSH safety for executives and director5 to
ensure that we integrate top level safety management into the wider organi5ation. Health and Safety
remains a high priority and considerable work has been carried out during 2023 and continue5 in
2024 on Fire Safety and Norwood Fire Strategy.
All health and safety incident5 continued to be tracked and monitored during 2023-24 and themes
and trends reported to the board and committees as appropriate.
13

Data Security and Data Protection
In 2023 Norwood successfully completed the Data Security and Protection Toolkit and submitted as
'Standards met,. We have fulfilled our legal responsibility throughout 2022/3 in terms of data
protection and security in line with the Information Commissioners Code of Practice. There has been
no requirement to report to the ICO during 2023-24. The team plan to work toward cyber essentials
certification during 2024-25.
Streamlined Energy and Carbon Report (SECR)
Norwood Ravenswood are required to report under the Streamlined Energy and Carbon
Norwood is required to report under the Streamlined Energy and Carbon Reporting (SECR)
framework, underthe Companies (Directors, Report) and Limited Liability Partnerships (Energy and
Carbon Report) Regulations 2018. This report cover5 the SECR requirement for Norwood. The
tabulated energy use and carbon emi5sionscan be found below. Thi5 covers the 12 months ending 31
March 2024 reflecting the financial year of Norwood. Norwood has reviewed and agrees with all
report inclusions and any exclusion5 where relevant.
Methodology
Norwood's footprint is calculated in accordance with the Greenhouse Gas (GHG) Protocol and
Environmental Reporting Guidelines- Including streamlined energy and carbon reporting guidance.
Scope
This report includes U K energy use, and the associated GHG emissions, that relate to:
Activities for which Norwood is responsible involving the combustion of gas, or consumption of
fuel for the purposes of transport. and
The purchase of electricity by the company for its own use, including for the purpose of
transport.
SECR Dashboard
Energy Consumption Ikwhl
Scope l Ener8y Consumption
Scope 2 Energy Consumption
energy Consumptlon
4.S37.316
L349.934
887.310
4.131,164
L439.330
5.570.494
6.Clll.297
2.IS9.
&2CO.603
Carl>on Emisslons ItCO2el
Stope l Emissions
2. L0(a￿ort Based {L81
Scope 2- Market kned IMBI
Total Cwbon- LB ItC021
Total Carbon- MB ItC021
839
762
.26Y.
278
.54%
203
376
624
.67%
L747
L7
-41%
Intensity Ratio
ItC02elHe4d(ountl
L5
L7
17
1Sropes l- Z EM￿￿OnSI
14

Energy Efficiency Measures undertaken by the charity
Work to upgrade ourenergy efficiency during the year has included:
LED lighting has been installed across theestatewhere previous lighting ha5 failed, oradditional
lighting was required.
There have been upgrades to the thermostatic controls at sites and lagging on hot water pipes
has been replaced.
Where boilers have been replaced, these have been replaced with new more efficient
systems: using A-rated systems (Energy-Related Products Directive) for both hot water and
heating efficiency.
Trustees, Responsibilities Statement
The trustees (who are a150 directors of Norwood Schoo15 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 regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under
that law the trustees have elected to prepare the financial statements in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and
applicable law), including FRS 102 the Financial Reporting Standard applicable in the UK and
Republic of Ireland. Under company law the trustees must not approve the financial statement5
unless they are satisfied that they 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-
observe the methods and principles in the Charities SORP (FRS 102)"
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statement5-
The trustees are responsible for keeping adequate accounting records that are sufficient to show
and explain the charitable company's transactions and disclose with reasonable accuracy at any
time the financial posltion of the company and enable them to ensure that the financial statement5
comply with the Companies Act 2006. They are also responsible for safeguarding the as5et5 of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
The trustees confirm that:
so far as each trustee is aware, there is no relevant audit information of which the charitable
company's auditor is unaware" and
the trustees have taken all the steps that they ought to have taken as trustees in order to
make themselves aware of any relevant audit information and to establish that the
charitable company's auditor is aware of that information.
15

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 di55emination of financial statements may differ from legislation in
otherjurisdictions.
MILei Webbet
Miles Webber
Director/Chair
Ben Freeman
Director/Joint Treasurer
27 September 2024
16

Independent auditor's report to the members of Norwood Schools Limited
Opinion
We have audited the financial statements of Norwood Schools for the year ended 31 March 2024
which comprise Trustees, Annual Report (incorporating Strategic report), Statement of Financial
Activities, Balance Sheet, and notes to the financial statements, 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 UKand Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion, the financial statements-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024
and of the charitable company's net movement in funds, including the income and
expenditure, forthe year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standard5 on Auditing (U K) (ISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statement55ection of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained 15 sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the trustees, use of the going concern
bas15 of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that. individually or collectively. may cast significant doubt on the charity's
ability to continue as a going concern for a period of at least twelve month5 from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
other information
The trustees are responsible for the other information. The other information comprises the
information included in the Trustees, Annual Report. Our opinion on the financial statements does
not cover the other information and, except to the extent otherwise explicitly stated in our report, we
do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with
the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are
17

required to determine whether there is a material mi55tatement in the financial statement5 or a
material misstatement of the other information. If, based on the work we have performed, we
conclude that there is a material misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Annual Report (which includes the directors, report
prepared for the purposes of company law) for the financial year for which the financial
statements are prepared is consistent with the financial statements. and
the strategic report and the directors, report included within the Trustees, Annual Report
have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Trustees,
Annual Report (which incorporate5 the strategic report and the directors, report).
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if, in our opinion-
adequate accounting records have not been kept by the charitable company" or
the charitable company financial statements are not in agreement with the accounting
record5 and returns: or
certain disclosures of tru5tees' remuneration specified by law are not made" or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees for the financial statements
A5 explained more fully in the trustees, responsibilities Statement set out on page 19, the trustees
(who are also the directors of the charitable company for the purposes of company law) are
responsible for the preparation of the financial statements and for being satisfied that they give a
true and fair view, and for such internal control a5 the trustees determine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud
or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, as applicable, matter5 related to going
concern and using the going concern basis of accounting unless the trustees either intend to
liquidate the charitable company or to cease operations. or have no realistic alternative but to do 50.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to Issue an auditor's report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement
when itexi5ts. Misstatementscan arisefrom fraud orerrorand areconsidered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with lawsand regulations. We design
procedures in line with our responsibilitie5. Outlined above, to detect material mi55tatements in
18

- 

- 

- 

- 

- 

- 

- 

- 

www.frc.org.uk/auditorsresponsibilities. 



Use of our report
This report is made solely to the charitable company's 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 state to the charitable company's members those matters we are required to state to them in
an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept
or assume responsibility to anyone other than the charitable company and the charitable company's
members, as a body, for our audit work, for this report, or for the opinions we have formed.
Richard Weaver
Senior Statutory Auditor
for and on behalf of Haysmacintyre LLP
Statutory Auditor
10 Queen Street Place
London EC4R 1AG
27 September 2024
20

|||**Continuing Operations**|**Continuing Operations**||**Discontinued Operations**|**Discontinued Operations**|||
|---|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Total**|||
|||**Funds**|**Funds**<br>**Funds**|**Funds**|**Funds**|**Funds**|**Total**|**Total**<br>**Total**|
|||**2024**|**2024**|**2024**|**2024**|**2024**|**2024**|**2023**|
||||||||||
||Notes|Notes<br>£'000|£'000|£'000|£'000|£'000|£'000|£'000|
|**Income from:**|||||||||
||||||||||
|Donations and legacies|2|5,300|764|**6,064**|-|**-**|**6,064**|9,502|
||||||||||
|Charitable activities|3|23,068|-|**23,068**|-|**-**|**23,068**|18,574|
||||||||||
|Trading activities|4|-|-|**-**|168|**168**|**168**|231|
||||||||||
|Investments|5|480|-|**480**|-|**-**|**480**|463|
|**Total income**||**28,848**|**764**|**29,612**|**168**|**168**|**29,780**|28,770|
||||||||||
||||||||||
|**Expenditure on:**|||||||||
|Raising voluntary income and<br>marketing|6a|516|-|**516**|-|**-**|**516**|224|
|Trading activities|6a|-|-|**-**|79|**79**|**79**|177|
|Charitable activities|6a|27,799|1,080|**28,879**|-|**-**|**28,879**|28,003|
|**Total cost**||**28,315**|**1,080**|**29,395**|**79**|**79**|**29,474**|28,404|
||||||||||
|Operating surplus/ (deficit)||**533**|**(316)**|**217**|89|**89**|**306**|366|
|||||||**-**|**-**|-|
|Net  gains /(losses) on investments|10|131|-|**131**|-|**-**|**131**|(57)|
|Net (losses)/gains on revaluation of<br>investment properties|10|(310)||**(310)**|-|**-**|**(310)**|(386)|
||||||||||
|**Net income/ (expenditure)**||**354**|**(316)**|**38**|**89**|**89**|**127**|**(77)**|
||||||||||
||||||||||
|Transfers between funds|14|**132**|**(132)**|**-**|-|**-**|**-**|-|
||||||||||
||||||||||
|**Net movement in funds**||**486**|**(448)**|**38**|**89**|**89**|**127**|**(77)**|
||||||||||
||||||||||
|**Reconciliation of funds:**|||||||||
||||||||||
|Total funds brought forward|18|27,426|5,987|**33,413**|(148)|**(148)**|**33,265**|33,342|
||||||||||
|**Total funds carried forward**||**27,912**|**5,539**|**33,451**|**(59)**|**(59)**|**33,392**|33,265|



All income and expenditure derived from continuing operations is shown separately from discontinued trading operations. The comparative figures for each fund are shown in the notes to the financial statements (Note 18). The accompanying notes on pages 23 to 37 of this report form an integral part of these accounts. 

There were no gains or losses other than those included in the Statement of Financial Activities. 



|||**2024**|**2023**|
|---|---|---|---|
|**Fixed Assets**|Notes|£'000|£'000|
|Intangible fixed assets|8|177|151|
|Tangible fixed assets|9|19,894|20,880|
|Investments: Managed investment portfolio|10a|1,577|1,446|
|Directlymanagedproperty|10b|6,660|6,970|
|**Total fixed assets**||**28,308**|**29,447**|
|**Current Assets**||||
|Debtors|11|11,038|10,971|
|Cash at bank and in hand||982|554|
|Total current assets||**12,020**|**11,525**|
|**Liabilities**||||
|Creditors: amounts falling due within one year|12a|(3,940)|(4,312)|
|**Net current assets**||**8,080**|**7,213**|
|||||
|**Total assets less current liabilities**||**36,388**|**36,660**|
|Creditors: amount falling due after one year|13|(2,996)|(3,395)|
|**Total net assets**||**33,392**|**33,265**|
|**Funds**||||
|Including cumulative revaluation gains of £1.7 m (2023: £1.9m)||||
|Restricted funds|14,15|5,539|5,987|
|Unrestricted funds|15|27,853|27,278|
|**Total Fund**||**33,392**|**33,265**|



The accompanying notes on pages 23 to 37 of this report form an integral part of these accounts. 

## Miles Webber 

## Ben Freeman 



Notes to the Financial Statements for the year ended 31 March 2024
Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in
the preparation of the financial statements are as follows-
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 UKand Republic of Ireland (FRS
102) (effective 1 January 2019)- Charities SORP (FRS 102) and the Companies Act 2006.
Norwood Schools Limited is incorporated in the United Kingdom and meet5 the definition of a public
benefit entity under FRS 102. The financial statements are presented in Sterling (£), rounded to
thousands.
b)
Preparation of the accounts on a going concern basis
These financial statements have been prepared on a going concern basi5. The majority of Norwood
Schools, income is secure as it arises from statutory sources. However, we have modelled a 40/0 and
60/0 reduction in statutory income due to attrition rates. with 6 % being an extreme case. The
forecasting performed and 5UPPOrt in the form of an intercompany grant from the parent charity
endorses the account5 being prepared on a going concern ba515. Norwood Ravenswood intends to
support Norwood Schools Limited for at least 12 months from the date of approval of the statutory
financial statements for the year ended 31 March 2024 and has the liquidity to do so. The trustees
considerthis uncertainty notto be material and hence do notconsiderthecharitiesabilitytocontinue
a5 a going concern to be at risk for at least12 months from the signing of the account5. Accordingly,
the trustees have prepared these accounts on a going concern basis.
Estimates
The preparation of financial statements requires management to make estimates, judgement5 and
assumptions that affect reported assets and liabilities as at the balance sheet date and the amounts
reported for revenues and expenses during the year. However, the nature of estimation means that
actual outcomes could differ from those estimates. The following judgements (apart from those
involving estimates) have had the most significant effect on amounts recogni5ed in the financial
statements:
Financial instruments
Derivative5 are initially recognised at fair value on the date a derivative contract is entered into and
are subsequently re-measured at their fair value. Changes in the fair value of derivatives are
recognised in the income and expenditure account under finance costs or income as appropriate.
Fair value of investment properties
Directly managed investment properties are periodically valued on the basis of fair value in
accordance with the RICS valuation and relevant accounting standards, With desktop valuation5
conducted in the interim (where there has been no significant change to the underlying a55et), with
any change recognised in the Statement of Financial Activities. A special assumption that the office
element of the property, occupied by Norwood. was sold on a long leasehold basis for a term of 999
years, at a peppercorn. The purpose of this special assumption is so that we can provide an opinion
of Fair Value of the Supermarket element of the property, in isolation.
23

Accounting policies (continued)
Estimates (continued)
Other significant estimates and assumption5
Significant estimates and assumptions in these Financial Statements require the exercise of
judgment and are used for. but not limited to, allowance for doubtful clients and local authoritie5,
account, estimates of future cash flows and other assumption5 associated with asset impairment
tests, including the reversal of previous impairments, useful lives for depreciation, determination of
discount and other rate assumptions for contingencies. Due to the inherent uncertainty involved in
making estimates, actual results reported in future periods may be different from these estimates.
There are no 5ignificantjudgements.
d)
FRS 102 Cash flow exemption applied
In line with Financial Reporting Standard 102, a qualifying entity may take advantage of certain
disclosure exemptions, including the preparation of a cash flow statement. Norwood Schoo15
Limited is a qualifying entity as it is a member of a group where the parent company, Norwood
Ravenswood, prepares publicly available consolidated financial statements which are intended to
g ive a true a nd fai r view of its assets, liabilities, financial p051tion and profit or1055.
Income recognition
All income is accounted for when Norwood has entitlement, there is probability of receipt and the
amount is measurable. If income relates to a future period or event and the purpose of that income
15 to support the costs and activities in the future, the income is deferred and recognised in the
appropriate period.
Gifts in kind
Donated goods and Services are included as income within the Statement of Financial Activities (with
an equivalent amount in expenditure) at the estimated value to Norwood, where this 15 reasonably
quantifiable, measurable and material.
Volunteers
The charity benefits from the involvement and enthusiastic support of its volunteers. In accordance
with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is
not recognised in the accounts.
Grants
Grant income is recognised in the statement of financial activities when received or when Norwood
becomes entitled to receipt. Grants that have been received will be treated as deferred income where
there are5pecific requirement5 in the terms of the grant thatthe income recognition is dependent on
certain activities being completed in a future accounting period.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by Norwood which is usually upon notification of the interest paid or payable by the Bank.
24

Accounting policies (continued)
Fund accounting
Restricted, designated and unrestricted funds are separately disclosed, as set out in Note 15.
Restricted funds are resources donated, the uses of which are subject to specific restrictions
imposed by the donors or by the nature of the appeal. Designated funds are unrestricted fund5 Set
aside at the discretion of the Board for specific purposes. All other type5 of fund5 which are not
restricted or designated funds form part of general funds. General funds are available to spend at
the discretion of the Board, in furtherance of the charitable objectives of the charity. Transfers to
and from designated funds are recognised as and when the Board designates or undesignates funds.
g)
Expenditure
Expenditure is recogni5ed 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.
Cost of raising funds
The costs of raising funds comprise of costs associated with charitable expenditure including
fundraising, trading costs and publicity.
Irrecoverable VA T
Irrecoverable VAT is charged as a cost to the Statement of Financial Activities, being allocated on
the same basis as the underlying expenditure to which it relates.
Support costs
Support costs are allocated to the different categories of activities. This is based on different
apportionment bases as identified in Note 6 of the financial statements. Support costs include
financial management, information systems. central managemenL human resources, property and
facilities management, Jewish culture, volunteering and risk and assurance.
Governance costs
Governance costs, other than those disclosed specifically in the notes to these accounts, are
included within support costs and allocated on the same basis across services, as per Note 6.
Governance costs relate to costs associated with the governance arrangements of the Norwood.
These costs will normally include internal and external audit fees, legal advice for trustee5 and costs
associated with constitutional and statutory requirements. for example the cost of trustee meetings
and preparing statutory accounts. Also included within governance costs are any cost5 associated
with the Strategic as opposed to day-to-day management of the charity's activities. An appropriate
proportion of the central management support costs have also been attributed as governance c05t5
to reflect the cost of Norwood's employees involved in meetings with the trustees and the cost of all
administrative support provided to the trustees.
Grant5 payable
Grant5 to individuals are recognised on paymentand grants to institutions are recogni5ed when there
15 a constructive obligation to make the payment.
25

Accounting policies (continued)
h)
Intangible and tangible fixed assets
Intangible fixed assets
Intangible assets are measured at cost less accumulated amortlsation and any accumulated
impairment losses(if applicable). Software developmentcostsare recognised asan intangibleasset
when all of the following criteria are demonstrated-
The technical feasibility of completing the software so that it will be available for use.
The intention to complete the software and use.
The ability to use the software.
The 50ftware will generate probable future economic benefits.
The availability of adequate technical, financial and other resources to complete the
developmentand to use the software.
The ability to measure reliably the expenditure attributable to the software during its
development.
Amortisation is charged so as to allocate the cost of intangible assets less their residual values over
their estimated useful lives, using the straight-line method. The intangible assets are amorti5ed over
the following useful economic lives-
Software costs
-4to7years
Tangible fixed assets
Operational assets are held at depreciated cost. Expenditure relating to tangible fixed assets is
expected to be used over several years and where the combined value of the asset or group of assets
exceeds £1,000 they are capitalised at cost and depreciated over their estimated useful economic
lives on a straight line ba515.
Depreciation is provided on tangible fixed assets in order to write off their cost to their estimated
reali5able values by annual instalment5 over the following expected useful lives-
Freehold land
Freehold buildings
Long leasehold land and buildings
Freehold and leasehold improvements
Motor vehicles
Furniture, fixture5. fittings and equipment
not depreciated
- 50 years
50 years or length of lease if shorter
- 10 years
- 10 years
- 10 years
Where there are indicationsthatassetsare or may be impaired in value or use, an impairment review
is undertaken to establish the net realisable value and thevalue in use. The carrying amount of the
assets is reduced by any excess over the higher of these valuations.
In the course of capital projects where costs are incurred for payments on account and asset5 under
construction or installation of equipment. they are not subject to depreciation until they are
reclassified after their completion and available for use.
26

Accounting policies (continued)
Financial instruments
Norwood operates basic financial instruments in terms of its assets and liabilities.
Financial asset5
Financial asset represents financial resources available to the charity and include financial
investments in equities, debtors, intercompany debtor5, cash and accrued income. Financial assets
are carried at fair value and changes in fair value are recognised in the Statement of Financial
Activities. Fair value of financial instruments is established by the open market value of the asset.
Financial liabilitie5
Financial liabilities are recognised on the date on which Norwood becomes a party to the contractual
provision5 of the instrument giving rise to the liability. These include trade creditors, other creditors,
loan, accruals and intercompany creditors. Financial liabilities are initially recogni5ed at fair value
plus transaction costs and are no longer recognised when the contractual obligations are
discharged, cancelled or expire. The bank loan shown in creditoramountfalling due afterone year is
recognised at its principal amount advanced less capital repayments.
i)
Investments
Investmentproperties
Investment properties are revalLJed annually by the trustees and periodically by independent
Chartered Surveyors on a fair value basis. Gains and losses are recognised in the Statement of
Financial Activities account for the period. Therefore no depreciation is provided on investment
properties.
Equityinve5tments
Equity investments are stated at fair value. Changes in fair value are recorded in the Statement of
Financial Activities. Unrealised gains and losses are calculated based on the carrying value of the
investments in the Balance Sheet.
Investment management fee5
Norwood investments are held within collective investment schemes and managed by fund
managers. The investment income is reported net of investment management costs. The investment
management fees are disclosed in the Statements of Financial Activitie5. There are no 'investment
management costs, to report in respect of the COI F Fund holdings. This is because there are no costs
netted off investment income as costs are to the Fund.
k)
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
i)
Cash at bank and in hand
Cash at bankand in hand includes cash and shortterm highly liquid investment5 Wlth a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
27

- 

- 

||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**2024**|**2023**|
||£'000|£'000|£'000|£'000|
|Donations|-|763|**763**|495|
|Grant from parent entity|5,300|-|**5,300**|9,000|
|Grants|-|1|**1**|7|
|**Total**|**5,300**|**764**|**6,064**|**9,502**|



||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**2024**|**2023**|
||£'000|£'000|£'000|£'000|
|Statutory income from Local Authorities|21,582|-|**21,582**|17,156|
|Gross fee income|103|-|**103**|233|
|Rental income|1,320|-|**1,320**|1,146|
|Other income|41|-|**41**|21|
|Government Grant|22|-|**22**|18|
|**Total**|**23,068**|**-**|**23,068**|**18,574**|





||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**2024**|**2023**|
||£'000|£'000|£'000|£'000|
|Adults services|22,816|-|**22,816**|17,698|
|Family services|99|-|**99**|46|
|Children services|145|-|**145**|691|
|Support services|8|-|**8**|139|
|**Total**|**23,068**|**-**|**23,068**|**18,574**|



||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|
||**Funds**|**Funds**|**2024**|**2023**|
||£'000|£'000|£'000|£'000|
|Tradingincome|168|-|**168**|**231**|
|**Total**|**168**|**-**|**168**|**231**|



|||**Restricted**|||
|---|---|---|---|---|
||**Unrestricted**|**Income**|**Total**|**Total**|
||**Funds**|**Funds**|**2024**|**2023**|
||£'000|£'000|£'000|£'000|
|Bank deposit interest|39|-|**39**|**64**|
|Rental income from investmentproperties|441|-|**441**|**399**|
|**Total**|**480**|**-**|**480**|**463**|



||**Direct**<br>**Staff Costs**|**Other**<br>**Direct**<br>**Costs**|**Other**<br>**Direct**<br>**Costs**<br>**Reallocated**<br>**Support**<br>**Cost**|**Total**<br>**2024**|**Total**<br>**2024**<br>**Total**<br>**2023**|
|---|---|---|---|---|---|
||£'000|£'000|£'000<br>£'000|£'000|£'000<br>£'000|
|Cost of generating voluntary income|130|139|139<br>247|**516**|**516**<br>224|
|Cost of trading - discontinued|73|(13)|(13)<br>19|**79**|**79**<br>177|
|Charitable expenditure:||||||
|Adults services|16,900|4,785|4,785<br>3,953|**25,638**|**25,638**<br>24,353|
|Family services|707|104|104<br>393|**1,204**|**1,204**<br>1,168|
|Children & educational services|471|912|912<br>560|**1,943**|**1,943**<br>2,482|
|Other|-|94|94<br>-|**94**|**94**<br>-|
|**Total cost of charitable expenditure**|**Total cost of charitable expenditure**<br>**18,078**|**5,895**|**5,895**<br>**4,906**|**28,879**|**28,879**<br>28,003|
|**Total resources expended**|**18,281**|**6,021**|**021**<br>**5,172**|**29,474**|**474**<br>28,404|





|**Support costs**|**Adults**|**Family**|**Children**|**Fund-**||**Total**|**Total**<br>**Total**|
|---|---|---|---|---|---|---|---|
|**(basis of apportionment)**|**services**|**services**|**services**|**raising**|**Trading**|**2024**|**2023**|
||£'000|£'000|£'000|£'000|£'000|£'000|£'000|
|**Financial Management**<br>_(percentage of staff)_|796|50|111|40|4|**1,001**|765|
|**Information Systems**<br> _(number of PCs)_|703|162|108|104|4|**1,081**|1,039|
|**Assistive Technology**<br> _(equipment and time spent)_|66|14|14|-|-|**94**|68|
|**Human Resources**<br> _(percentage of staff)_|923|58|128|39|5|**1,153**|966|
|**Property and Facilities**<br>_(percentage of staff)_|633|40|88|27|3|**791**|713|
|**Central Management**<br> _(percentage of staff)_|445|22|59|21|2|**549**|676|
|**Jewish culture**<br>_(percentage of staff)_|47|5|5|2|-|**59**|62|
|**Risk and Assurance**|63|3|9|3|-|**78**|73|
|_(percentage of staff)_||||||||
|**Volunteering**<br> _(number of volunteers)_|21|23|2|-|-|**46**|65|
|**Governance**<br> _(percentage of staff)_|256|16|36|11|1|**320**|310|
|**Total**|**3,953**|**393**|**560**|**247**|**19**|**5,172**|**4,737**|



|||**Total**|**Total**<br>**Total**|
|---|---|---|---|
|||**2024**|**2024**<br>**2023**|
|||£'000|£'000<br>£'000|
|External audit and related costs:|Fees payable to the charitable company's auditor|Fees payable to the charitable company's auditor<br>**30**|**30**<br>39|
||for the audit of the charitable company's annual|||
||accounts|||
|Depreciation of owned fixed assets||**1,567**|**1,567**<br>1,578|
|Interest payable||**209**|**209**<br>122|
|Operating lease rentals:|Plant & machinery|**116**|**116**<br>183|
||Properties|**267**|**267**<br>146|
|Trustees’ indemnity insurance premiums|Trustees’ indemnity insurance premiums|**7**|**7**<br>7|
|Gains/(losses) on disposal of fixed assets|Gains/(losses) on disposal of fixed assets|**313**|**313**<br>(54)|



||**2024**|**2024**<br>**2023**|
|---|---|---|
||£'000|£'000<br>£'000|
|**Direct staff expenditure:**|||
|Wages and salaries|**16,581**|**16,581**<br>14,600|
|Social security costs|**1,475**|**1,475**<br>1,373|
|Pension costs|**449**|**449**<br>431|
|**Total direct staff costs**|**18,505**|**18,505**<br>**16,404**|
|**Other Staff expenditure:**|||
|Agency costs|**2,665**|**2,665**<br>3,553|
|Other staff costs|**456**|**456**<br>501|
|**Total staff expenditure**|**21,626**|**626**<br>**20,458**|





||**2024**|**2024**<br>**2023**|
|---|---|---|
||£'000|£'000<br>£'000|
|Statutory redundancy payments|**122**|**122**<br>7|
|Payments in Lieu of notice period|**13**|**13**<br>45|
|Compensation for loss of office|**228**|**228**<br>88|
|**Totalpayments on termination included above**|**363**|**363**<br>**140**|



||**Staff employed**|**Staff employed**|
|---|---|---|
||**2024**|**2024**<br>**2023**|
||Number|Number<br>Number|
|Fundraising|**17**|**17**<br>6|
|Adults’ Services|**583**|**583**<br>517|
|Children and Family Services|**62**|**62**<br>82|
|Education and Support|**1**|**1**<br>15|
|Support Services|**57**|**57**<br>59|
||**720**|**720**<br>**679**|



The number of employees who earned more than £60,000 during the year was: 

||**2024**|**2024**<br>**2023**|
|---|---|---|
||Number|Number<br>Number|
|£60,001 - £70,000|**3**|**3**<br>3|
|£70,001 - £80,000|**4**|**4**<br>4|
|£80,001 - £90,000|**1**|**1**<br>1|
|£90,001 - £100,000|**2**|**2**<br>2|
|£100,001 - £110,000|**1**|**1**<br>2|
|£110,001 - £120,000|**1**|**1**<br>-|



Contributions made to the pension scheme for the twelve (2023: twelve) employees who earned more than £60,000 amounted to £42,000 (2023: £55,000). 

The trustees and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. Trustees received no remuneration and were not reimbursed any expenses in either year. 

The total employee benefits of Key Management Personnel of the group were £890,000 (2023: £884,000). 

Norwood operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the charity. Contributions payable in respect of the year were £411,000 (2023: £431,000) of which £239,000 was outstanding at 31 March 2024. 



||**Computer**<br>**Software**|**Total**|
|---|---|---|
||£'000|£'000|
|**Cost**|||
|At 1 April 2023|2,870|2,870|
|Additions|94|94|
|Disposals|(27)|(27)|
|**At 31 March 2024**|**2,937**|**2,937**|
|**Depreciation**|||
|At 1 April 2023|2,719|2,719|
|Charge for the year|68|68|
|Impairment|-|-|
|Disposals|(27)|(27)|
|**At 31 March 2024**|**2,760**|**2,760**|
|**Net Book Values:**|||
|**At 31 March 2024**|**177**|**177**|
|**At 31 March 2023**|151|151|



|||||**Fixtures,**||
|---|---|---|---|---|---|
||**Freehold**|**Freehold**<br>**Leasehold**|**Motor**|**Furniture &**||
||**properties**|**erties**<br>**properties**|**vehicles**|**Equipment**|**Total**|
||£'000|£'000<br>£'000|£'000|£'000|£'000|
|**Cost**||||||
|At 1 April 2023|32,441|32,441<br>2,565|675|8,851|**44,532**|
|Additions|275|275<br>1|9|416|**701**|
|Disposals|(25)|(357)|(140)|(129)|**(651)**|
|**At 31 March 2024**|**32,691**|**32,691**<br>**2,209**|**544**|**9,138**|**44,582**|
|**Depreciation**||||||
|At 1 April 2023|15,734|15,734<br>1,268|481|6,169|**23,652**|
|Charge for the year|833|833<br>95|45|528|**1,501**|
|Disposals|(13)|(206)|(137)|(109)|**(465)**|
|**At 31 March 2024**|**16,554**|**16,554**<br>**1,157**|**389**|**6,588**|**24,688**|
|**Net Book Values:**||||||
|**At 31 March 2024**|**16,137**|**16,137**<br>**1,052**|**155**|**2,550**|**19,894**|
|**At 31 March 2023**|16,707|16,707<br>1,297|194|2,682|20,880|





|10a.<br>Investments - managed investment portfolio|||
|---|---|---|
|**Market Value**|**2024**|**2023**|
||£'000|£'000|
|Market values at 1 April|**1,446**|1,503|
|Disposals in the year|**-**|-|
|Net investmentgains/(losses)|**131**|(57)|
|**Market value at 31 March**|**1,577**|**1,446**|
||||
|**Historical Cost for comparison**|**2024**|**2023**|
||£'000|£'000|
|Historical cost at 31 March|**1,288**|1,288|
|Cumulative revaluation gains (investment portfolio)|**289**|158|
|The underlyinginvestments mayalso be analysed as follows:|||
|**Equity Investments by type**|**2024**|**2023**|
||£'000|£'000|
|Multi-asset  Investment Funds|**1,577**|1,446|
|Cash|**-**|-|
|**Market Value at 31 March**|**1,577**|**1,446**|



|**Market Value**|**2024**|**2023**|
|---|---|---|
||£'000|£'000|
|Valuation at 1 April|**6,970**|7,380|
|Net investment (losses)/gains - unrealised|**(310)**|(380)|
|Provision for Capital expenditure|**-**|(30)|
|**Carrying values at 31 March**|**6,660**|**6,970**|
|Historical cost at 31 March|**5,200**|5,200|
|Cumulative property revaluation gains for the year|**1,460**|1,770|



The investment property relates to the ground floor of the building at 80-82 The Broadway, Stanmore leased to a third party.  In April 2024, an independent valuer, Cluttons LLP, undertook a valuation of the investment property. 

|**Market Value**|**2024**|**2023**|
|---|---|---|
||£'000|£'000|
|Net (losses)/gains on investments: managed portfolio|**131**|(57)|
|Net (losses)/gains on financial instruments: interest rate cap|**-**|(6)|
|Net (losses)/gains on investments: directly managed property|**(310)**|(380)|
|**Net(losses)/gains on investments**|**(179)**|**(443)**|



The Interest Rate Cap arrangement, which had been valued by J.C. Rathbone Associates Limited, a financial institution authorised and regulated by the Financial Conduct Authority, ended in February 2023. 



||**2024**|**2024**<br>**2023**|
|---|---|---|
||£'000|£'000<br>£'000|
|Trade debtors and Local Authorities' debts|**1,560**|**1,560**<br>874|
|Amount due from group undertakings|**8,810**|**8,810**<br>9,489|
|Other debtors|**308**|**308**<br>214|
|Prepayments|**360**|**360**<br>347|
|Accrued income|**-**|**-**<br>47|
|**Total debtors**|**11,038**|**038**<br>**10,971**|



||**2024**|**2024**<br>**2023**|
|---|---|---|
||£'000|£'000<br>£'000|
|Trade creditors|**1,059**|**1,059**<br>1,454|
|Accruals and deferred income|**1,532**|**1,532**<br>1,770|
|Bank loan repayable within one year|**349**|**349**<br>346|
|Other creditors|**377**|**377**<br>253|
|Other taxes and social security costs|**623**|**623**<br>489|
|**Total creditors due in less than oneyear**|**3,940**|**940**<br>**4,312**|



||**2024**|**2024**<br>**2023**|
|---|---|---|
||£'000|£'000<br>£'000|
|Opening balance at 1 April|**647**|**647**<br>702|
|Amounts released in year|**(647)**|**(647)**<br>(631)|
|Amounts deferred in year|**580**|**580**<br>576|
|**Closing balance at 31 March**|**580**|**580**<br>**647**|



Deferred income relates to fee income invoices raised at the year-end which pertain to future periods. 

||**2024**|**2023**|
|---|---|---|
||£'000|£'000|
|Bank loan repayable within two to five years|**1,437**|1,421|
|Bank loan repayable after fiveyears|**1,519**|1,924|
||**2,956**|3,345|
|Provision for Dilapidation|**-**|50|
|Rental Deposit|**40**|-|
|**Total creditors due in more than oneyear**|**2,996**|**3,395**|



Bank loan:  In October 2007 Norwood purchased Broadway House in Stanmore with a 25 year loan taken from RBS of £6.68m.  Capital repayments commenced after 60 months of loan issue (first 5 years is interest only).  The bank loan is secured by a charge over the property and is repayable in 240 monthly instalments from November 2012.   The final payment will be in October 2032. 



|~~14._RestrictedFunds~~|_Note_|**1 April**<br>**2023**|**Incoming**<br>**resources**|**Outgoing**<br>**resources**|**Transfer**<br>**between**<br>**funds**|**Transfer**<br>**between**<br>**funds**<br>**31 March**<br>**2024**|
|---|---|---|---|---|---|---|
|||**£'000**|**£'000**|**£'000**|**£'000**|**£'000**<br>**£'000**|
|JCoSS PSRP Fund|_i_|701|-|(284)|-|-<br>**417**|
|JAPH|_ii_|25|-|-|-|-<br>**25**|
|Somers Court & Residential Fund|_iii_|177|-|(17)|-|-<br>**160**|
|Somers Court (ex Daniel Ct.)||308|-|-|-|-<br>**308**|
|Supported Living Properties Fund:|_iv_|7|22|-|-|-<br>**29**|
|11 Highview Gardens||602|-|(15)|-|-<br>**587**|
|Holmbury Avenue||320|-|(17)|-|-<br>**303**|
|Greenwood Road||163|-|(6)|-|-<br>**157**|
|The Grange Fund|_v_|143|-|(11)|(132)|(132)<br>**-**|
|Phyllis Somers Capital & Service Fund|_vi_|2,466|-|-|-|-<br>**2,466**|
|Assistive Technology Fund|_vii_|251|-|(10)|-|-<br>**241**|
|Lyonsdown Road Rear Garden|_viii_|30|2|(3)|-|-<br>**29**|
|Heads Up Kids|_ix_|27|8|(35)|-|-<br>**-**|
|Rochelle & Alan Bernard Fund|_x_|58|-|-|-|-<br>**58**|
|Capital Projects|_xi_|502|250|(158)|-|-<br>**594**|
|Binoh SEND Fund|_xii_|35|-|(4)|-|-<br>**31**|
|Lyonsdown minibus operational costs|_xiii_|28|14|(13)|-|-<br>**29**|
|Braude Trust for Staff Training|_xiv_|33|-|(33)|-|-<br>**-**|
|Autism Services|_xv_|23|-|-|-|-<br>**23**|
|Transformational Change Management|_xvi_|-|40|-|-|-<br>**40**|
|Unity|_xvii_|-|53|(53)|-|-<br>**-**|
|Under £20k||88|375|(421)|-|-<br>**42**|
|Total||5,987|764|(1,080)|(132)|(132)<br>**5,539**|



## Restricted funds: 

- i Fund supporting the Pear's Special Resource Provision at JCoSS. 

- ii JAPH Fund to assist Jewish people with physical and/or learning disabilities. 

- Somers Court & Residential Accommodation Fund to provide accommodation for young adults with learning 

- iii disabilities. 

- iv Supported Living Properties Fund including capital investments. 

- v The Grange Fund represents the donation of a flat, disposed of in year. 

- Phyllis Somers Service Delivery Fund: Towards construction, refurbishment and associated costs of family 

- vi centres and accommodation for adults with disability, plus the operating cost of such services. 

- Assistive Technology and Digital Fund: Grants from KC Shasha Charitable Foundation and other Trusts to 

- vii provide AT and associated support to people with LD and complex needs. 

- viii Lyonsdown Road Rear Garden supporting the landscaping of rear garden. 

- ix Heads Up Kids - supports our work in partnership with Heads Up Kids and PaJes. 

- x A memorial fund set up in memory of Rochelle and Alan Bernard to support children dealing with trauma. 

- Capital Projects provided by the Leo Baeck Housing Association, the Locker Foundation and the Gerald and Gail 

- xi Ronson Family Foundation to support building improvements. 

- xii Binoh Send Fund supports Binoh's Special Educational Needs and Disabilities Programme. 

- xiii A fund to support the Lyonsdown minibus operational costs: Driver, fuel and fleet charges. 

- xiv Braude Trust funding for staff training and inductions. 

- xv Autism Services funding. 

- xvi Transformational Change Management Funding. 

- xvii Funds used to support the Unity service including staffing costs. 



||**Unrestricted**<br>**Fund**|**Designated**<br>**Fund**|**Restricted**<br>**Fund**|**Total Fund**|
|---|---|---|---|---|
||£'000|£'000|£'000|**£'000**|
|**2024**|||||
|Fixed assets|**18,527**|**-**|**1,544**|**20,071**|
|Investments|**8,237**|**-**|**-**|**8,237**|
|Net current assets/(liabilities)|**4,085**|**-**|**3,995**|**8,080**|
|Liabilitydue after oneyear|**(2,996)**|**-**|**-**|**(2,996)**|
|**Total net assets**|**27,853**|**-**|**5,539**|**33,392**|
|**2023**|||||
|Fixed assets|19,311|-|1,720|**21,031**|
|Investments|8,416|-|-|**8,416**|
|Net current assets/(liabilities)|2,946|-|4,267|**7,213**|
|Liabilitydue after oneyear|(3,395)|-|-|**(3,395)**|
|**Total net assets**|**27,278**|**-**|**5,987**|**33,265**|



The future minimum payments under non-cancellable operating leases are: 

||**Leased**<br>**Properties**<br>**2024**|**Leased**<br>**Properties**<br>**2024**<br>**Other**<br>**2024**|**Other**<br>**2024**<br>**Leased**<br>**Properties**<br>**2023**|**Leased**<br>**Properties**<br>**2023**<br>**Other**<br>**2023**|
|---|---|---|---|---|
||**£'000**|**£'000**<br>**£'000**|**£'000**<br>£'000|£'000<br>£'000|
|Within one year|**240**|**240**<br>**116**|**116**<br>302|302<br>101|
|Between one and five years|**961**|**961**<br>**320**|**320**<br>961|961<br>-|
|Over five years|**2,536**|**2,536**<br>**-**|**-**<br>2,776|2,776<br>-|
||**3,737**|**737**<br>**436**|**436**<br>**4,039**|**039**<br>**101**|



## **Group companies:** 

In the year, there were related party transactions between the charity and members of the group. 

Norwood Schools Limited paid for expenditure of £15,000 (2023: £99,000) on behalf of The Hope Charity. The Hope Charity repaid to Norwood Schools £207,000 (2023 £nil) At the year-end Norwood Schools Limited was owed £810,000 (2023: £1,001,000) by The Hope Charity. 

Norwood Schools Limited received income of £5,300,000 (2022: £9,470,000) from Norwood Ravenswood. Norwood Schools Limited incurred expenditure of £3,725,000 (£2023: £1,210,000) on behalf of Norwood Ravenswood. At the year-end Norwood Schools Limited was owed £7,947,000 (2023: £8,486,000) by Norwood Ravenswood. 

Norwood Schools Limited accounts are consolidated into Norwood Ravenswood, the parent company. Norwood Ravenswood is a registered charity limited by guarantee, registered in England and Wales with charity registration number 1059050 and company registration number 03263519. The principal and registered office for Norwood Ravenswood is Broadway House, 80-82 The Broadway, Stanmore HA7 4HB. 

## **Key management personnel compensation:** 

In line with paragraph 33.6 of FRS102 Related Party Disclosures, compensation paid to key management personnel in respect of services provided to the reporting entity is disclosed in Note 7. 



||**Continuing Operations**|**Continuing Operations**|**Continuing Operations**|**Discontinued Operations**|**Discontinued Operations**|||
|---|---|---|---|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Total**|||
||**Funds**|**Funds**|**funds**|**Funds**|**Funds**|**Total**|**Total**<br>**Total**|
||**2023**|**2023**|**2023**|**2023**|**2023**|**2023**|**2023**<br>**2022**|
||£'000|£'000|£'000|£'000|£'000|£'000|£'000<br>£'000|
|**Income from:**||||||||
|Donations and legacies|9,004|498|9,502|-|-|9,502|9,502<br>9,371|
|Charitable activities|18,556|18|18,574|-|-|18,574|18,574<br>19,031|
|Other trading activities|-|-<br>-|-<br>-|-<br>231|231|231|231<br>321|
|Investments|463|-|463|-|-|463|463<br>414|
|Profit on disposal of property|-|-<br>-|-<br>-|-<br>-|-|-|-<br>-|
|**Total income**|**28,023**|**516**|**28,539**|**28,539**<br>**231**|**231**|**28,770**|**28,770**<br>**29,137**|
|**Expenditure on:**||||||||
|Raising voluntary income|224|-|224|-|-|**224**|**224**<br>170|
|Trading activities|-|-|-|177|177|**177**|**177**<br>151|
|Charitable activities|26,904|1,099|28,003|-|-|**28,003**|**28,003**<br>28,378|
|**Total cost**|**27,128**|**1,099**|**28,227**|**177**|**177**|**28,404**|**28,404**<br>**28,699**|
|Operating surplus/(deficit)|895|(583)|312|54|54|366|366<br>438|
|Net gains on investments|(443)|-|-<br>(443)|-|-|(443)|(443)<br>1,204|
|**Net**income**/(expenditure)**|**452**|**(583)**|**(131)**|**54**|**54**|**(77)**|**(77)**<br>**1,642**|
|**Reconciliation of funds:**||||||||
|Total funds brought forward|26,974|6,570|33,544|(202)|(202)|**33,342**|**33,342**<br>31,700|
|**Total funds carried forward**|**27,426**|**5,987**|**33,413**|**33,413**<br>**(148)**|**(148)**|**33,265**|**33,265**<br>**33,342**|