The Mulberry Bush Organisation Limited Financial Statements Year ended 31 August 2024 Charity registration number.. 309565 Company registration number: 538828 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Contents Page Reference and Administrative Delails Trustees, Annual Report Independent Auditor's Report Statement of Financial Activities (Including Income and Expenditure Account) Balance Sheet t3 17 18 Statement of Cash Flows 19 Notes to the Financial Statements 20 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 ,Reference and Administrative Detalls Trustees Chris Pugh (Chair) Zoe Lattimer Rosemary Lilley Simon Peacock Richard Rollinson Michael Sarrington Satvinder Sondhi Mark Thomas Hugh Pidgeon (resigned Jul 24} Margaret Eynon (resigned Jul 241 Hannah Chapman (appt Jan 24) Vicky Snow (appt Jan 241 Keith Bird (appt May 241 Geraldine Akerman (appt May 241 Lucy Whitehouse (appt May 24) Tim Mcmahon (appt May 241 Martin Cleaver (appt Jun 24) Kristine Langhoff (appt Sept 24) Tobias Barrett (appt Sept 24) Chief executive officer John TurbeNille Registered office Abingdon Road Standlake Witney OX29 7RW Auditor Critchleys Audit LLP Chartered Accountants Beaver House 23 - 38 Hythe Bridge Street Oxford OX12EP Solicitors MW Solicitors 34 Bell Street Reigate Surrey RH27SL Bankers National Westminster PIC 21 High Street Witney Oxon OX28 6HU Scottish Widows Bank PO Box 883 Leeds LS19TY Charity registration number 309565 Company registration number 538828 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 The trustees present their report and the audtted financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP} °Accounting and Reporting by Charities" (FRS 102} in preparing the annual report and financial statements of the charity, Our Core Purpose and Activitie3 Our Vision To transform the lives of all those affected by chlldhood trauma. through education, training, research and specialist therapeutiG services. Our Mission To be a leading charity for advancing the education, training, research and specialist therapeutic services for emotionally troubled and traumatised children, young people, adults, their families and communities. Our Objectives and Public Benefit The Mulberry Bush (MBI operates {1) The Mulberry Bush Leaming and Research Cenlre, (2} The Mulberry Bush School and (3} the Mulberry Bush Third Space (MB3). 1. In 2018 The Mulberry Bush Learning and Research Centre was established, as a way to bring together our Outreach, Research and Consulting work under one org8nisational identity. The Mulberry Bush Outreach: provides psychodynamic, reflective and attachment-based outreach training, support and consultancy to Schools, Children's Homes, Foster Care, Children's Soclal Care. Criminal Justice and those working with those troubled and traumatised as children. We have an increasing number of accredited courses including our Level 5 Foundation degree (FDA) accredited by the University of the West of EngSand (UWEI in'therapeutic work with children and young people,, and our Level 4 Certificate in Therapeutic Childcare which are delivered internally to our staff and to staff teams across the country. The Mulberry Bush Research- aims to develop and shape a research culture to influence practice within the MB and other schools, agencies and providers for people troubled and Iraumatised as children, Mulberry Bush Consulting provides a range of consultancy services including Executive Coaching, Organisational Development Consultancy and Organisation Change Consultancy to individuals and organisations in the UK and abroad. It works with individuals and organisations to support the development of therapeutic approaches and reflective practice. Mulberry Bush Consulting also oversees the development of The International Centre for Therapeutic Care, a free global alliance with networks across Africa, Europe, LISA, and Australia. and its 'voice' The Therapeutic Care Journal (The TCJ). The mission of the International Centre via the TCJ is 'to share models of therapeutic care, and to extend the influence and insights gained from our member networks, to improve services and outcomes for traumatised children, young people, their families and communities.. The Mulberry Bush Organisation Limited .Report and Financial Statements Year ended 31 August 2024, 2. The Mulberry Bush School provides residential care, education, treatment and therapy for up to 30 children aged 5 to 13 who, due to early life trauma, emotional deprivation, abuse and neglect, have severe social, emotional and mental health difficulties. The aim of the school is to equip each child with personal, emotional, social and learning skills and the ability to cope within a family, local school or community environment. The school aSso works with the children's families to help stabilise home placements and support reintegration into the home setting The school is one of the leading providers of such integrated and multi-disciplinary therapeutic services to this age group. Children are placed at the school following an assessment of needs carried out in close association with local authorities and the child's family. 3. The Mulberry BL*sh Third Space, in Toddington, Gloucestershire, Is a centre for training and teaming about therapeutic approaches and reflective practice. It has both residential and day facilities and its culture reflects therapeutic community principles. The Mulberry Bush Third Space is enriched for research and study by the Planned Environment Therapy Archive, which holds collections related to the therapeutic community and progressive schools, movements. It also holds the National Childcare Library. The archive links closely to our Research team. Our Work The core buildlng blocks for our approach and the foundation for all our work are: Psychodynamic approach - the key value that underscores all our work is the use of Psychodynamic Theory. The work of psychotherapists and those who work in a psychodynamic way is to try and change the person frorn within, that is to see the behaviours as symptoms of the inner confticts and to try and address the causes of the symptoms rather than to rectify the behaviours. Reflective Culture the emotional impact of the work we do Is considerable, and it Is Unly through a high level of mutual support, acknowledging and understanding these processes, that staff are able to continue working effectively. Reflective practice aims to improve practice and leads to a greater understanding of children's behavlour. Collaborative Working - This takes the form of bringing together different teams (internal and extemall to think about the impact of working together with difficult children. The Mulberry Bush always encourages open communications. Dtfficult subjects are encouraged to be talked about wlth parents and other professionals. These foundations are all closely interlinked and directly look after the well-being of both our staff and our children, Public benefit statement In setting objectives and planning activilies, the Trustees have glven careful consideration to the Charity Commlssion's general guidance on the provlsion of public benefit. The public benefit and impact of ourcharitable work is achieved through providing education, training, research and specialist therapeutic services to enable the social inclusion and reintegratlon of children, young people, adults, their families and communities and all those who are made vulnerable by early years, trauma and mental health difficulties back into family, school, community and social life. Without a robust and meaningful early intervention, the children, young people, families and clients who use our charitable services are at serious risk of future social marginalisation, becoming victims of criminal and gang culture, sexual exploitation. or radicalisation by extremist ideologies, and they are more likely to be on a trajectory towards long term secure-estate or psychiatric facilities. By breaking cycles of abuse and working with those struggling with the impact of early life trauma, the work of the charity builds social capital, and provides significant cost saving to the taxpayer over each potential life cvcle. The Mulberry Bush Organisation Limited Report and Financlal Statements Year ended 31 August 2024 Achievements and Performance During the year to 31 August 2024 the focus of the MB has been on progressing the growth of the charity and conlinuing the charities strategic plan. The charity is in the process of developing and formallsing a ten-year strategic plan which focuses on three pillars. Specialist Therapeutic Services, Learning and Research, and Business and Development. The delivery of its charitable impact continues to be across Ihree key areas., Practice., Support and Influence. Practice The Mulberry Bush School offers specialist therapeutlc resldential step-down school provision for up to 30 children, in its 38 week 'term time, households or its 52 week 'year round, households. The school also has g team of practitioners working with families of children placed and therapists who provide therapy to children and advise staff on the therapeutic approach through the treatment team process. The primary aged children have complex social, emotional and mental health needs. Relerrals during the year were lower than expected for 38-week placements but there was increased demand ' for 52-week placements. To help ensure MB was able to support the increased need for 52-week placements, a decision was made during the year to open a new 52-week house, Bramble House, to run alongside the existing 52-week house, The Burrow. This took some time to complete and required changes to the existing staffing model to ensure the charity was resourced to meet the additional demand of a further six 52-week placements. Bramble House was opened later than forecast in the summer term. Since the start of the new academic and financial year the MB has seen 52-week referrals significantly Increase and four of the six new places within Bramble House have been filled. The school continues to be accredited by the Royal College of Psychiatrists as 8 Therapeutic CommUn￿y. In 23124 MB has continued to grow the work of the Outreach team and Consulting Services, further increaslng the reach of its seNices locally, regionally. nationally and internationally. Mulberry Bush Outreach continues to provide training, support and mentoring to help us reach hundreds of people through our 'support' heading, to providers in the education, social care, criminal justice and health seGtors. Mulberry Bush Outreach were successful in winning the Oxfordshire County Council tender providing training and support to over 40 regional schools over three years. This is a significant achievement for the team and is testament to the expertise and importance of the work which the team delivers. Mulberry Bush Outreach also worked in collaboration with a Therapeutic Youth Secure setting to deliver The Crossfields Institute Level 4 Certificate in Therapeutic Childcare to over 30 new students as part of the work that the Secure setting does with children that are on remand or sentenced. This has broadened the scope of the work that Mulberry Bush Outreach do, providing impact to a completely new sector. Additionally, this year the Level 5 Foundation degree (FDA) in Therapeutic Vvork with Children and Young People won the Princess Anne National Training Award for a second year. Mulberry Bush Consulting as well as working wlth school and health leadership teams has continued its support to Latvia alongside Mulberry Bush Outreach, developing a therapeutic care model for children and young people in the country, a programme of work that wlll continue into 2025. Support and influence The Mulberry Bush Research airns to develop and shapè a research culture to Influence practice within MB and other schools, agencies and providers of care to vulnerable and traumatised children and their families, and those who work with them. We collaborate with researchers 8nd practitioners in wlde variety of academic and other settings to build action research cultures and improve outcomes through valulng evidence-based practice. The Mulberry Bush Organisation Limited .Report and Financial Statements Year ended 31 August 2024 Our aim is to reach out and influence thousands of lives, through the activity of The Mulberry Bush Third Space, and the International Centre for Therapeutic Care and The Therapeutic Care Journal. Mulberry Bush Research continue to develop its service to departments and seNices internally but also works lo provide research expertise to the project work that Mulberry Bush Outreach engages in. These projects lead to important disseminations events, such as the one at Oxford Brookes University this year sharing the findings Df a 2-year study on inclusion in Coventry schools, attended by 100 teachers and professionals. In addition, this year they have been working on a pilot study funded through the Open University looking at pupil outcomes which should lead to a longitudinal study. This work has included employing 2 ex-pupils as part of the advisory group. The Mulberry Bush Third Space provides a residential training, study and archlve centre which holds the Planned Environment Therapy Archive and The National Childcare Library. This qulel rural site in Gloucestershire runs activities which include research, trainlng, events and OLrtdoor activities and education opportunities. The growth of the Archive team has strengthened the capactty and activity of the team to sort and catalogue the collections and make them available for learning. They.. engage with academics who vlsit from all over the world, engage with new and existing stakeholders, and acGelerate the work of sorting and cataloguing collections, The Mulberry 8ush Third Space is becoming an important learning centre for leaders 2cross education, social care, mental health and justice settings, The partnership with NASS (National Association of Special Schools) has delivered training to over 80 School Improvernent Partners. The space has received an increasing number. of recurrlng bookings over the year and helped support the other services within MB as a venue and learning centre. The fundraising and marketing fLJnctions have supported the charities aims throughout the year, Fundraising successfully reached the £1 m milestone for donations to our house refurbishment programme which has been running since 2019, A significant achievement in a market where many are seeing falls in income due to cost- of-living increases. MB continues to provide ongoing input into legal proceedings related to a historic case raised against the charity. Depending on the final outcome of the case this may result in financial settlement which will be settled via the charity's insurance. Following the retirement ofthe Director of Finance in April 2024, a new Director of Flnance has been appointed during the year to continue to manage the charities finances and support the CEO and Trustees. Additionally, a Business Development Manager was appointed durlng the year. Their role will be working alongside the Leadership teams, integrating wlth all areas of MB to help Identify and progress opportunities for growth and Improvement. Financial review The financial slatements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, the Charilies Act 2011 and Accounting and Reporting by Charities= Statement of Recommended Practice appllcable to charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. The charity has been focusing on investing in growth since 2022, to maximise the charitable impact on all those effected by childhood trauma. The main area of growth has been seen in Mulberry Bush Outreach activities. Income generated by Mulberry Bush Outreach activities over the18St year was above budget, The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 The Mulberry Bush Thlrd Space continues to bring in income and to support the work of the wider MB teams, providing training and event space throughout the year. The Mulberry Bush Third Space will be working alongside the Business Development Manager in the coming year to help identify and secLtre further income generating opportunities. The principal income generating activity of the charfy remains the School at Standlake and the critical financial measure of performance is the occupancy level. Occupancy was lower than we had planned for and so income was lower as a result. The general fund income for the year in respect of the provision of education and childc8re services was £5,999,334 compared to £6,013,770 in 2023, a marginal decrease of £14k. Donated income from gifts and grants (including grants from central government) was £672.363, compared to £824,966 in 2023, a decrease of £153k, Core central governmenl funding, which comes to us via the Department of Education, is the primary source of grant income was broadly in line with prior year. The decrease is primarily driven by a reduction in donated income which is the result of a challenging market with significantly more charities and greater pressure on household income. Expenditure on charitable activities was higher at £8,073,118 compared to £6,990,115 in 2023, an increase of £1.1Tn. Staff costs which represent the largest expenditure increased by 18 /0, this follows investment in Head Office functions and recruitment into school vacancies during the year. In addition, some agency staff were utilised whilst recruitment campalgns were ongoing. The total of cash deposits and bank balances as at 31 August 2024 was £4,432,15812023: £5,594,674) of which £530,955 was held to meet current 5iabilities. This reflects the increased costs to open Bramble House during the year, higher running costs for the charity overall and reduced income from school fees. Total reserves are £10,396,322 ofwhich £333.619 are in restricted funds and £23,574 are in designated funds rnoney which has been set aside for projects which are identified during the year after the budget has been set. Reserves policy The trustees have identified one of the principal risks as the financial dependence of the school on intermlttenl referrals of children by a number of Local Authorities. As part of the mitigation of this risk, the trustees aim to maintain unrestricted reserves equivalent to six months current running costs at full expenditure levels plus a further six months at half of full current running costs. This would allow a reasonable period of time in which to restore occupancy levels and, if that strategy were unsuccessful, to carry out an orderly restructuring which would allow the charity to operate at reduced levels of occupancy. In addition to cash reserves, the trustees are aware that the charity occupies land at Standlake and Toddington which have the potential to generate signific8nt value for the charity should circumstances require. At 31 August 2024, the charity held £3.88m in unrestricted net current assets which falls below the criteria set out in the reserves policy. There are plans to invest from these reserves in 2024125 and the focus is on continuing to generate surplus income to build the reserves to a healthy balance in future years. The reserves policy is regarded as an indicator rather than as a mandatory requirement. It is reviewed annually, and the Trustees monitor the charlties position against the policy on an ongoing basis. Fundraislng The charity is registered with the Fundraising Regulator and seeks to comply with their code in all respects, including having a complaints policy, and have received no complaSnts about our fundraising activities. Vve do not make use of professional fundraisers. The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Investment policy The trustees have not felt it appropriate to invest in any assets other than cash but seek to optimise interest income through conventional short-term deposits with reputable and secure banks. During the year, the trustees remained iNvested in fixed-term deposits of up to one year to optimise the interest rate return. This is reflected in the balance sheet. Plans for future periods Each year, the Board of Trustees reviews with the Charity Executive a rolling strategic plan that looks at the vision and objectives of the charity. The strategic objectives of the Gharity focus on developing activities across OL*rthree areas of focus-, Practice, Support and Inftuence. Practice: 1. To develop the charity as a Leaming Organisation wlth a Learnlng and Flesearch Centre at its heart. 2. To establish a research culture across all serviGes of the Mulberry Bush 3. To establish a specialist therapeutic residential secondary provision. 4. To provide an early years therapeutlc piovision. 5. To maximise occupancy of the school and to increase the flexibllity offered to referring authorities wtth more 52-week placements and effective step down provision. 6. To extend and intensify our work with families. Support and Influence: 7, To develop the offerof courses, support and training to reach more people to benefit from the Mulberry Bush Outreach services across education, health, criminal justice and social care. 8. To develop the offer of reflective practice and therapeutic community related courses at the Mulberry Bush Third Space. 9, For Mulberry Bush Consulting to extend its support to leaders and leadership teams in the UK and abroad. Mulberry Bush Consulting will also extend the reach and influence of the International Centre and the Therapeutic Care Journal 10, To further develop the reach and influence of the Mulberry Bush Research, alongside its connection with the Planed Environment Therapy Archive and National Childcare Library, This will involve preparing for a larger scale longitudinal research study with ex-pupils. structure, Governance and Management Trustees of the charity The dlrectors of the charltable company are its trustees forthe purposes of charlty law. The trustees who have served durlng the year and since the year-end are listed on page 2. The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Organisational Structure The prime responsibility of the Board of Trustees is to provide sound governance. The management of the organisation is overseen by the trustees who meet regularly and are responsible for its strategic direction and policy, including the appointment of senior personnel, the review and approval of key operational and financial policies and procedures and the setting of a budget. The Board also operates Education, Care and Treatment, Resources (previously Finance and General Purposes) and such other conimittees as may be decided from b'me to time. In determining the appointment of trustees, the Board of Trustees identifies such skills as may assist in the furtherance of the objects and future development of the organisation and invites new trustees wtth due regard to their experience and qualifications for office. New trustees are supported in their appointment through the provision of a range of information on the activities of the organisation and publications by the Charity Commission on the formal responsibilities of trustees, together with the opportunity, before their appointment, to attend trustee and other meetings arid observe the actlvity of the organisation. The Board appointed John Turberville, who succeeded John Diamond on 1 August 2022, as Chief Executive Officer responsible for the development ancl implement8tion of the organisation's strategic plan. The Mulberry Bush Charity Leadership Group currently comprises John Turberville Chief Executive Officer, Sarah Archer Director of Finance, Caryn Onions Head of Research, Lee Wright School Director, Dave Roberts Head of Outreach, Sarah Paget Head of Mulberry Bush Consulting and Jo Mitchell Head of Fundraising and Marketing. The Charity Leadership Group oversees the strategic development of the charity and works with their senior leadership teams to deliver the services of the charity Remuneration policy The aggregated cost of employment of the Charlty Leadership Group is £562,296 (2023 £326,464). Remuneration for all staff is managed via an annual Salary Review and reported on to the Resources (previously Finance and General Purposes) Trustee sub-committee. Governing Document The organisation is a charitable company limited by guarantee, incorporated in October 1954 and registered as a charity on 5 January 1966. The members of the company comprise the Board of Trustees, together wrth any other persons invited by the trustees as likely to assist in the furtherance of the objects of the company. The company has no share capital, and the liability of the membefs is limited to £1 each in the event of the company being wound up, The organisation is governed by Its Memorandum and Articles of Association dated 2 October 1954 as subsequently amended, most recently in December 2019. In October 2008. the company changed its name to "The Mulberry Bush Organisation Limited" In December 2019. the Memorandum and Articles were again updated (and accepted by the Charity Commission) to extend the charitable mission.. 'The Mulberry Bush {MB) Charity is a leading charity for advancing education, training, research and speciallst therapeutic services for emotionally troLsbled and traumatised children, young people, adults their families and communities., The Mulberry Bush Organisatlon Limited Report and Financial Statements Year ended 31 August 2024 Trustees, responsibilities The trustees as directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the direGtors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the net movement in funds of the charitable company for that period. In preparing these financial slatements, the directors are required to: lil Select sU￿able accounting policies and then apply them consistently. (ill Prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charit8ble Gompany and to enable them to ensure that the financial statements comply with the Companies Act 2006. Trustees 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. Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevaT7t audit information and to establish that the charity's auditors are aware ofthat Information. The trustees confirm that there is no relevant information that they know of and which they know the auditors are unaware of. Principal risks and uncertainties The Trustees review and consider all of the major risks to which Mulberry Bush services are exposed throughout the year and they have identified the following principal risks as.. The operational safety of all those we work with and the 'safer recruitment, of staff appropriate to work wlth challenging and vulnerable groups. Strategies to manage the risk of a serious safeguarding incident or allegation.. The Charity is committed to supporting the safety and welfare of all those Who use our seNices through active engagement with the current safeguarding agenda. The school has appointed a new Post of Designated Safeguarding Lead to oversee school safeguarding practice, pollcy and procedures. The Charity also has a safeguarding lead to help manage any matters that arise through the archlve or Outreach services. The charity enacts its commitment to the safeguarding agenda by.. Rigorous staff recruitment and vetting procedures. School recruitment is in accordance with the requirewents of the Children's Homes Quality Standards under the Care Standards Act 2000 and protocols are also reviewed by Office for Standards in Education {OFSTED}. Ensuring the Safeguarding agenda Is embedded in all our serviGe policies and in dlrect work with all those we work wtth. The close supervision and management olchildren 24 hours a day, Encouraging independent advocacy for children, regular visits from 'Coram Voice, advocates. and equipping each household with a direct 'Voice' telephone. 10 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Ensuring all staff have regular supervision and consultation and those working wlth children have access to our Level 5 training. Due to the vulnerability of many of our Glient groups, our safeguarding training is enhanced to 8 2-year cycle and is to the Oxfordshire Safeguarding Children's Board standard. We also deliver safeguarding training on b8half of the Oxfordshire Safeguarding Board, Maintaining an excellent working relationship with the Oxfordshire Schools Safeguarding Team, and the Local Authority Designated Officer, and the Multi Agency Safeguarding Hub IMASHI,. and Maintaining an excellent repL*tation for working closely with parents, carers and referring authorities over any safeguarding issues. In managing these risks, the school has developed a rigorous and well documented standard of oper8tional policies which are reviewed as part of the ennual visits from OFSTED. Creating a sustainable model Of service delivery.. Strategies to achieve this.. To further develop at the heart of the charity as a Learning Organisation, The Mulberry Bush Learning and Research Centre, with office space that reflects the charity coffltnitrnent to its staff team. To establish a secondary school provision as part of our strategic plan, For the Mulberry Bush Third Space to be fully trading offering research, training, events and outdoor education. The diversification of traded servlces. such as The Mulberry Bush Outreach and Consulting services, to create new revenue streams for the Charity and further our charitable impact. To develop saleable products that create additional income streams and provide support to purchasers to better understand and work wlth their clients. To develop our research department to explore what works and share research-based practice. The financial dependence of the school and other MB services on intermittent referrals of children by Local Authorities who are under extraordinary financial pressures, and for the Schools, social care, health and criminal justice work of the Outreach and Consulting teams through Department for Education grants and contracted work from Local Authorities and our mainstream and special school client base. This could be further imp8Cted by the ongoing spending squeeze on Locgl Authorities. Strategies to manage or prevent a downturn in referrals.. Maintaining and growing a broad referral base of work for both the School from Local Authority referrals from across England and Wales, and for our Outreach and Consulting servlce from schools, social care, health and criminal justice organisations both regionally and nationally. Business Development Manager able to review and challenge processes and implement changes to increase referrals and business more widely. Recruitment challenges and the recruitment of a skilled staff team in a highly competitive market. The maintenance of a healthy reserve to support the charity through any downtum in actlvlty and income s of central importance to charity management. The strength and stability of the CEO and leadership team remains vital to the stsbilrty of the whole charity. The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Disclosure of information to the auditors We, the directors of the cotnpany who held office at the date of approval of these financial statements as set out above each confirm. so far as we are aware, that. there is no relevant audit infomation of which the company's auditors are unaware., and we have taken all the steps that we ought to have taken as directors to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information, In approving the Trustees, Annual Report. we also approve the Strateqic Report included therein. in our capacity as company directors. On behalf of the Board Chris Pugh, Ch 13 Noveinber 20 12 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Independent auditor's report to the members of Tho Mulberry Bush Organisation Limited Opinion We have audited the financial ststements of The Mulberry Bush Organisation Limited (the "Gharitable company'l for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial ststements.. give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its income and expenditure for the year then ended; have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUKI) 8nd applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable cornpany n 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 hav8 obtained is sufficient and appropriate to provide a basls for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation Df 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 Mulberry Bush Organisation Limited's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, including the trustees, report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is malerially inconsistent with the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 13 The Mulberry Bush Organisation Limited .Report and Financial Statements Year ended 31 August 2024 We have nothing to report in this regard. Optnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audlt: the information glven in the trustees, 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 directors, report included within the trustees, report has 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 company and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report included within the trustees, repott. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion= adequate and proper accounting reGords have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law 8re not made- or we have not received all the information and explanations we requlre for our audit. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement [set out on page 10], the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary 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 Company's ability to continue as a going concern, dlscloslng, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that Includes our opinion, Reasonable assurance is a high level of assurance but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when It exlsts. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 14 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below-. the engagement partner ensured that the engagement team collectively had the approprlate competence, capabilities and skills to identify or recognise non-compliance with applicable18WS and regulations,. we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience,. we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company. we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence where applicable., and identified laws and regulations were communicated within the audlt team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud mlght occur, by= making enquiries of managernent as to where they corssidered there was susceptibiltty to fraud, their knowledge of actual, suspected and alleged fraud- considering the internal controls in place to mttigate risks of fraud and non-compliance with laws and regulations; and To address the risk of fraud through management bias and override of controls, we.. perfomed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identrfy unusual transactions-, assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias,. and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to= agreeing financial statement disclosures to underlying svpporting documentation- reading the minutes of meetings of those charged with governance- enquiring of managetnent as to actual and potential litig8tion and claims., reviewing relevant correspondence. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il Is that we would become aware of non-compliance, Auditing standards also limit the audit procedures required to identify non-cornpliance with laws and regulations to enquiry of the direclors and other managetnent and the inspection of regulatory and legal correspondence, if any. 15 The Mulberry Bush Organisation Limited Report and Financial Statements Year ended 31 August 2024 Material misstatements that arise dLie to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report, Use of our report This report is made solely to the charltable 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 8nd the charitable company's members as a body. for our audit work, for this report, or for the opinions we have formed. Robert Kirtland (Senior Statutory Auditor) For and on behalf of Critchleys Audit LLP (Statutory Audltor) Beaver House 23-38 Hythe Bridge Street Oxford OX12EP 1811112024 16 The Mulberry Bush Organisation Limited Statement of Financial Activities (Including Income and Expenditure Account) Year ended 31 August 2024 2024 2023 Unrestricted General Designated Restricted funds Total Unrestricted General Designated Restricted nds Total Note Income from Donations and grants Charitable activities Inveslmenls Total income 467.998 5.999.334 161,677 6,629,009 204.365 672.363 5,999.334 161.677 6.833.374 498.776 6,013,770 81,396 6,593.942 326.190 824.966 6,013,770 81.396 6,920.132 204.365 326,190 Expenditure on: Raising funds Charitable activities Total expenditure Net Incomellexpendlturel 174,486 7,983,294 8,157,780 11.528,771) 174,486 8,073.118 8,247,604 (1,414,230} 103,513 6.782,556 6,886,069 1292,1271 103,513 6.990,115 7,093,628 1173,4961 19,442 19,442 {19,4421 70,382 70,382 133.983 4.103 4,103 14,1031 203,456 203,456 122,734 Transfers botweon funds 217.423 1217,4231 393,975 1393,9751 Nel movement In funds 11,311,348) (19,442) {83,4401 (1,414,230) 101,848 (4,103) 1271,2411 1173,4961 Reconclllatlon of funds: Total funds brought forward 17 11.350.477 43.016 417.059 11.810,552 11.248.629 47,119 688,300 11,984,048 Total funds carrled forward 17 10.039.129 23,574 333.619 10,396.322 11,350,477 43,016 417,059 11,810,552 All income and expenditure derive from continuing activtties. The statement of financial activities includes all gains and losses recognised during the year. 17 The Mulberry Bush Organisation Limited Balance Sheet Year ended 31 August 2024 2024 2023 Note Fixed assets Intangible assets Tangible assets 12 13 46,103 6,126,977 6,247,829 Current assets Debtors Investment in cash deposits Cash at bank and in hand 14 322,039 3,000,000 1,432,158 381,574 2,250,000 3,344,674 4,754,197 5,975,248 Creditors: amounts falling due within one year 15 (530,9551 (413,5251 Net current assets 4,223,242 5,562,723 Net assets 10,396,322 11,810,552 Charity funds Restricted funds Unrestricted funds 17 17 333.619 10,062,703 417,059 11,393,493 Total charity funds 10.396,322 11,810,552 The financial statements were approved and authorised for issue by the Board on 13 November 2024. Signed on behalf of the Board of Trustees Chris Pugh, C 13 November 24 The notes on pages 20 to 31 form part of these financial statements. Company registration number.. 538828 18 The Mulberry Bush Organisation Limited Statement of Cash Flow Year ended 31 August 2024 Nole 2024 2023 Cash flow from operating activities Interest paid Net cash flow from operating activities 19 1945.7991 {290,122) 945,799) 1290,122) Cash flow from investing activitie5 Payments to acquire tangible fixed assets Payments to acquire intangible fixed assets Investments in cash deposits Proceeds from sale of tangible fixed assets Interest received Net cash flow from investing activities 1293.245) 155,867) 1750,000) 256 132,139 1966,717) (428,667) {2,250,000} 600 50,496 {2.627.571 Net cash flow from financlng activities Net {decrease)lincrease in cash and cash equivalents 11,912,516} (2,917,693) Cash and cash equivalents at 1 September 2023 3,344,674 6,262,367 Cash and cash equivalents at 31 August 2024 1,432,158 3,344,674 Cash and cash equivalents consists of: Cash at bank and in hand Short term deposits available with 90 days notice 182,158 1,250,000 1.344.674 2.000,000 Cash and cash equivalents at 31 August 2024 1,432.158 3,344,674 19 The Mulberry Bush Organisation Limited Notes to fhe Financial Statements Year ended 31 August 2024 Summary of significant accounting policies (al General information and basis of preparation The Mulberry Bush Organisation Limited is a charitable company registered in the United Kingdom. Iri the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The nature of the charity's operations and principal activities is the provision of residential care. education, treatment and therapy and an outreach and training service. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities". Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financi21 Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 effective 1 January 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice effective 1 January 2015. The flnancial statements are prepared on a going concern basis under the historical cost convention. The financial statefflents are prepared in sterling which is the functional currency of the charity. The signrficant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless othenNise stated. {b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds Ihat have been set aside by the trustees for particular PLtrpDses. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to *he financial statements. (c) Income recognition All incoming resources are Included In the Statement of Financial Actlvities {SoFAI when the charity is legally entitled to the Income after any performance Gonditions have been met, the amount C8n be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for Volunteer time, in line with the SORP Tangible fixed assets Tangiblefixed assets are stated at cost less accumulated depreciation and any accumulated impairmeiit losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Freehold land Freehold buildings Furniture and equipment Vehicles 40 years 25.10 on the reducing balance method (i) Current asset investments Cash held on deposit with 8 maturity date more than 3 months at the date of acquisition are recognised as current asset investments. Cash held on deposit and available witliin 90 days are recognised as short term deposits within Cash at bank and in hand. ti} Creditors payable within one year Creditors and provisions are recognised where the chartty has a present obligation resulting frorn 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 dlscounts due. (k) Employee benefits The charity operates defined contribution plans for the benefit of its non-teaching staff and contrlbutions are expensed as they become payable. Teaching staff are members of the Teachers, Pension Scheme which is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees, working lives with the charity ia such a way that the pension cost Is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit Gredit method. The TPS is a multi-employer scheme and there is insufficient information available to use defined benefit accounting. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in tho period to which they relate. {1) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Im) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level offunds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reseryes for the charity to be able to continue as a going concern. 22 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 Income from donations and grants 2024 2023 Gifts Grants 324,564 347,799 672,363 471,835 353,131 824,966 Income from charitable activities 2024 2023 Mulberry Bush School - Practice Mulberry Bush Learning & Research - Support Mulberry Bush Third Space- Influence 5,411,160 583,829 4,345 5,6%5.030 398.740 5,999,334 6,013,770 Income from Investments 2024 2023 Interest receivable 161,677 81,396 Analysis of expenditu￿ on charitable activities 2024 Activities undertaken directly Support costs Total Mtslberry Bush School - Practice Mulberry Bush Learning and Research Centre - Support Mulberry Bush Third Space - Influence 5,148,309 1,078,143 1,512,588 166.511 6,660,897 1,244,654 141,950 6,368.402 25,617 1,704,716 167,567 8,073,118 2023 Activities undertaken directly Support costs Totsl Mulberry Bush School - Practice Mulberry Bush Learning and Research Centre - Support Mulberry Bush Third Space - Influence 5,234,280 148,771 1,316,216 199,598 6,550,496 348,369 18,503 5.401,554 72,747 1,588,561 91,250 6,990,115 23 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 Augusl 2024 Allocation of support costs 2024 Basis of allocation Practice Support Influence Total staff Premises IT support Insurance Marketing Professional fees Other Depreciation Disposals Total Aclug Actual Per head 455.658 24,929 135,826 75.718 78,650 115,146 203,055 423,862 256 1.512,588 69,689 3,813 20,773 11,580 12,029 17,611 31,016 10,721 586 3,196 1,782 1,851 2.709 4,772 536,068 29,328 159,795 89.080 92.530 135,466 238,843 423,862 256 25.617 1.704,716 Per h¥ad Per head Per head Per head Actual Actual 166,511 Allocation of support costs (continued> 2023 Basis ol allocallon Practice Support Influence Total Staff Premises IT support Insurance OfFice Public relations Professlonal fees Other Depreciation Disposals Total Aciual 216,908 148,362 137,126 69,671 118,901 83,694 147,223 17,774 375,560 1,000 1,316,220 216.908 321,929 160,672 81,634 139.318 98,065 172,503 20,972 375,560 1,000 72,746 1,588,561 Actual 118,251 19,391 9,852 16,814 11,835 20,819 2,634 55,316 4,155 2,111 3,603 2,536 4,461 564 Per head Per head Per head Per heèd Per head Per head Actu81 Actual 199.596 Governance costs Note 2024 2023 Trustee remuneration Trustee expenses Auditor's remuneration {including expenses) Audltor's non-audit remuneration 10 515 9,960 3,954 14,429 1,199 9,060 1,824 12,083 Net incomel{expenditure) for the year Net incomel(expenditureJ is stated after chargingllcreditingl: 2024 2023 Depreciation of tangible fixed assets Amortisation of intangible assets (Gain}/Loss on disposal of assets 414,og8 9,764 256) 375,560 1,000 24 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 Auditor's remuneration 2024 2023 Fees payable to the charity's auditor to audit the annual accounts 9,960 9.060 Fees payable to the charity's auditor for other services.. Audit-related assurance Other services 1,260 2,694 3,954 1,440 384 1,824 10 Trustees. and key management personnel remuneration and expenses The truslees neither received nor waived any remuneration during the year (2023 - Nil)- The total amount of employee benefits received by key management personnel was £562,296 {2023 - £294,018). The Trust considers its key management personnel comprise its trustees and charity leadershlp team. The reimbursement of trustees. expenses was as follows.. 2024 Number 2023 Number 2024 2023 Travel 515 1,199 11 Staff costs and employee benefits The average monthly number of employees and full time equivalent {FTE) during the year was as follows.. 2024 Number 2024 2023 Number 2023 FTE Raising funds Charitable activities". Mulberry Bush School Mulberry Bush Learning & Research Mulbery Bush Third Space 102 25 97.1 24.8 99 14 91.5 13.2 131 125.3 119 108.7 The total staff costs and employees, benefits was as follows= 2024 2023 Wages and salaries Social security Apprenticeship levy Defined contribution pension costs 5,010,391 517,114 9,999 357.576 5,895,080 4,207,691 438.897 6,343 323,988 4.976,919 No termination payments were made durlng the year {2023 - £2,291), 25 The Mulberry Bush Organisation Limited . Notes to the Financial Stateinents Year ended 31 August 2024 11 Staff costs and employee benefits continued The number of employees who received total employee benefits (excluding employer pension costs) of more than £60.000 is as follows.. 2024 Number 2023 Number £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £90.001- £100,000 £100,001 £110.000 £110.001-£120,000 12 Intangible assets Intangibles Software Total Cost or valuation-. At 1 September 2023 Additions Disposals At 31 August 2024 Amortisation-. At 1 September 2023 Charge for the year Disposals At 31 August 2024 Net book value.. At 31 August 2024 55,867 55,867 55,867 55,867 19,7641 (9,7641 9.764 9.764 46,103 46,103 At 31 August 2023 13 Tangible fixed assets Freehold land Fumtture and and buildings equipment Motor vehicles Total Cost or valuation-. At 1 September 2023 Additions Disposals At 31 August 2024 Depreciation.. At 1 September 2023 Charge for the year Disposals At 31 August 2024 Nel book value". At 31 August 2024 8.501,499 198,848 5,063 8.695,284 476,776 70,728 12,420 523,084 128,315 23,670 9.106.590 293,246 17,483 9,382,353 151,985 2.453,529 344,588 5,063 2,793,054 295,997 63,260 12,420 346,837 109,235 6,250 2,858,761 414,098 17,483 3,255,376 115.485 5.902,230 188,247 36.500 6,126,977 Al 31 August 2023 6.047 849 180,779 19,081 6,247,829 26 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 14 Debtors 2024 2023 Trade debtors Prepayments Other debtors 123,937 91,708 106,394 322,039 174,376 67,940 139,260 381,576 15 Creditors: amounts falling due within one year 2024 2023 Operating creditors Creditors in respect of fixed assets other tax and social security Deferred income Pensions liability Other creditors and accruals 168.376 88,576 85,757 113,299 18,122 46,789 60,982 413,525 134,704 104,259 48,462 75,154 530,955 2024 2023 Deferred income at 1 September 2023 Released from previous years Resources deferred in the period Deferred income at 31 August 2024 18,122 118,122) 104,259 104,259 127,296 1127,296) 18,122 18,122 16 Conlingent liabilities There were no contingent liabilities at 31 August 202412023- Nil). 27 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 17 Fund reconciliation Unrestricted funds 2024 Balance at 1 September 2023 Balance at 31 August 2024 Income Expenditure Transfers General Deslgnated: Additional resourGes 11,350.477 6,629,009 (8,157,780} 217,423 10,039,129 43,016 {19,442) 23,574 11,393,493 6,629.009 (8,177,222) 217,423 10,062,703 2023 Balance at 1 September 2022 Balance at 31 August 2023 Incorrte Expenditure Transfers General Designated: Additional resources 11,248,629 6,593,942 (6.886,069) 393.975 11,350,477 47,119 14,103) 43.016 11,295,748 6,593.942 (6.890.172) 393,975 11,393,493 Restricted funds 2024 Balance at I September 2023 Balance at 31 August 2024 Income Expendlture Transfers Refurbishment WOYL Vehicles Archive Education Group work Swings Bikes Picnic Benches Bramble House Library Outreach work iPads 316,675 15,000 2,870 156,382 12,310 fO,190 750 {192,133) {6,4601 (23,960} 280,924 12,310 (10,900) 750 (8,5401 601 {5,7311 5,130 5,000 5,000 107 730 107 730 1,000 5,000 {1,0001 5,000 531 37,384 1,783 333,619 1,304 80,502 {7731 (43,118) 11.220 (70,382) 13,003 204,365 417,059 (217,423) 28 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 Restricted funds Icontinued) 2023 Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Transfers Playgrounds Refurbishment School Jigsaw kitchen WOYL Vehicles Archive Education Group work Swings Library Outreach work Research work 12,120 611,412 12,120 99,238 16,588 35,168 15,000 1393,975) 316,675 16,588 35,168 15,000 2,870 4.717 1252) 3,004 5,000 1,847 252 2,403 5,000 1,837 2,043 98,320 28,130 203,456 601 1.944 107 1.304 80,502 3,347 38,822 10,130 688,300 140,000 18,000 326,190 (393,9751 417,059 Fund descriptions al Unrestricted funds are held to help fulfil The Mulberry Bush charitable objects and underpin its risk management and reserves policy, bl Designated funds are unrestricted fvnds earmarked by the trustees for projects and resources directed at the development of the charity. c) Restricted funds have restrictions on their use imposed by the donor or through the terrns of an appeal. The Refurbishment fund is being used for site improvements and refurbishment. Initially, this was set up with money raised by the 70th anniversary appeal. The WOYL (Women of the Year LunGhl fund in 22123 was to pay for the September 2023 Women of the Year Lunch fundraising event. Unspent money from 22123 has been transferred to the refurbishment fund. The WOYL fund in 24125 was to pay for the September 2024 fundraising event, money raised from ticket sales was to contribute to the vehicle fund. Monies will continue to be received from ticket sales into 2024 ahead of the event and will contribute to the vehicle fund. any remaining funds will be transferred to unrestricted. The Vehicles fund was used for the purchase of vehicles for The Mulberry Bush Outreach, funding from the 2024 WOYL ticket sales was used to fund the vehicle purchases. The Archive fund comes from a grant for conservation work. The Education fund was set up from a gift to support the children's education at the head teacher's discretion. The Group work fund was set up to help kick start a Mulberry Bush Outreach project. The swings fund is from a donation for the purchase of new swings. The library fund has Inoney which was given for books for the children at the School. 29 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 The Mulberry Bush Outreach work fund funds some work wlth several prlmary schools who have 8 significant proportion of pupils with SEMH dlfficulties. Fund descriptions continued The Mulberry Bush Research work fund contributed to the cost of employing a research assistant. The bikes fund is from donations for the purchase of children's bikes at the school. Bramble House is a donation provided specifically for the training of Therapeutic Care Practitioners within the new 52-week house The iPads relates to specific donatlons raised for the school to provide iPads for the children to use. 18 Analysis of net assets between funds 2024 Unrestricted Designated funds funds Restricted funds Total Fixed assets Intangible assets Investment in cash deposits Cash at bank and in hand other net current liabilities Total 6,126,977 46,103 3,000,000 1,051,879 185,830 10.039.129 6,126,977 46,103 3,000,000 1,432,158 (208.916) 10.396,322 23,574 356,705 23.086 333,619 23,574 2023 Unrestricted Designated funds funds Restricted funds Total Fixed assets Investment in cash deposits Cash at bank and in hand other nel current liabilities Total 6.244,959 2,250,000 2,871,966 {16,4471 11,350.478 2,870 6,247,829 2,250,000 3.344,674 131,951 11,810,552 43,015 429,693 115,504) 417,059 43,015 19 Reconciliation of net income to net cash flow from operating activities 2024 2023 Net income for the year 11,414,230) {173,496) Interest receivable Depreciation of tangible & intangible assets Lossl{Gainl on disposal of tangible fixed assets Decreasel(increase) in debtors Increaselldecreasel in creditors Net cash flow from operating activities (161.677) 423,862 (256) 89,072 117,430 (945,7991 {81,396} 375,560 1,000 {63.268) {348.522) {290,1221 20 Pensions and other post-retirement benefits The charity operates defined contribution pension plans for its employees. The amount recognised as an expense in the period was £357,576 (2023 - £323.9881. 30 The Mulberry Bush Organisation Limited Notes to the Financial Statements Year ended 31 August 2024 21 Financial commitments The charity has an operating lease related to an office and meeting room facility, used principally as the Learning & Research Centre, under which £29,328p.a. is payable by monthly instalfflents until the lease expires on 25 February 2025. £29,328 was paid during the year; £14,664 is payable wthin one year. The charity has a lease agreement with IBS Office Solutions for photocopier rental across all three sites= standlake school, Linden House, and Toddington. Monthly costs are invoiced based on usage, £7,061 was paid during the year. 22 Related party transactions There were donations from trustees totalling £435 (2023 - £8461. Travelling expenses totalling £515 were paid to three trustees12023 - £1,199 to three trustees). There is one member of staff that is the wife of the CEO. No specific related party transactions are noted other than remuneration. Remuneration for all staff is fflaTpaged via an annual Salary Review conducted by HR who review all salaries in conjunction with existing market rates. The review is independently overseen and approved by the Resources (previously Finance and General Purposes) Trtjstee sub-committee. Post balance sheet events There have been no events since the year end which need to be reported (2023 - None). 31