## **Reedham Children’s Trust**
## **Annual Report and Financial Statements**
30 June 2024
Company Limited by Guarantee Registration Number 00081410 (England and Wales) Charity Registration Number 312433
## **Reports**
|**Reports**||
|---|---|
|Reference and Administrative Information 1|Reference and Administrative Information 1|
|CEO and Chairman’s Report|3|
|Report of the Board of Management|6|
|Independent Auditor’s Report|30|
|**Financial Statements**||
|Statement of Financial Activities|34|
|Balance Sheet|36|
|Statement of Cash Flows|37|
|Principal Accounting Policies|39|
|Notes to the Financial Statements|42|
## **Reference and Administrative Information**
|**Board of Management (Trustees)**|J C Groombridge CB|
|---|---|
||(Stepped down Dec 2023)|
||M Nevill APFS (Chairman appointed|
||January 2024)|
||R Beckles|
||N Dyer BSc|
||P Leon-James BA (Hons) LLM|
||M Perkins DipM FRSA|
||A Singh (Resigned 31 August 2024)|
||Meghan Rhodes BSc (Appointed March|
||2024)|
|**Company Secretary/Chief Executive**|S J Smart BEd (Hons) MA|
|**Officer**||
|**Executive Assistant**|P Furnish BFA (Hons) MA|
||(Appointed September 2023)|
|**Deputy CEO and Director of**|C Palmer BA (Hons)|
|**Fundraising**|(Left October 2023)|
|**Youth Partnerships Manager**|R Smart BA (Hons)|
|**Fundraising & CS Admin Officer**|S Egremont|
|**Finance and Data Manager**|A Sharma FCCA|
|**Fundraising Manager**|J Ritchie BA (Hons)|
|**Registered office**|23 Old Lodge Lane|
||Purley|
||Surrey|
||CR8 4DJ|
|**Company registration number**|00081410|
|**Charity registration number**|312433|
## **Reference and Administrative Information**
|**Auditor**|Buzzacott LLP|
|---|---|
||130 Wood Street|
||London|
||EC2V 6DL|
|**Bankers**|CAF Bank Ltd|
||25 Kings Hill Avenue|
||Kings Hill|
||West Malling|
||Kent|
||ME19 4JQ|
|**Investment advisers**|Investec Wealth & Investment Limited|
||2 Gresham Street|
||London|
||EC2V 7QN|
|**Solicitors**|Greenwoods GRM|
||Monkstone House|
||City Road|
||Peterborough|
||PE1 1JE|
**Report of the Board of Management** Year to 30 June 2024 ® REEDHAM
## **Chief Executive’s statement 2023/24**
During 2023 - 2024, Reedham Children’s Trust has fulfilled the first year of its new three-year business plan, which sets in motion the charity’s ambitious strategic plan to improve the life outcomes of many more vulnerable children and young people in Croydon by investing directly in voluntary and community youth organisations.
We have continued to foster a relationship of collaboration and partnership with Croydon Voluntary Action (CVA) and the many voluntary and community sector youth delivery organisations who make up the membership of the Croydon Youth consortium (CYC)
Together we are creating a model of youth provision supported by a new Youth Innovation Fund funded from Reedham’s capital assets, to be invested directly in new 12 month explore projects which test out innovative ways of working with vulnerable young people.
This year we opened applications to the YIF, and we now have eight new projects up and running or ready to start in September 2024.
Alongside the YIF workstream our youth hub development projects, which provide a safe place for young people to thrive outside school, located in Croydon Central/Northwest (Legacy Youth Zone) and Croydon South-East (Good Food Matters), have completed their second and first year respectively.
A significant success from year 2 of the Legacy School Engagement project has been the reported increase in attendance rates among students involved in the project. Specifically, students who were previously prone to frequent absences are now attending more regularly. This positive trend shows that the support provided through the project is having a beneficial impact on student engagement and participation.
The increase in capacity which Reedham has enabled through its investment in the Safe Space project has resulted in Good Food Matters to become the BRITE BOX recipe scheme partner for Croydon. This summer we reached 50 children – with an extended reach across the 50 families of 250 people. From September this will increase to 150 boxes per week (150 year 6 children total reach of 750) with in school and family cooking session planned and work experience and volunteering opportunities for young people to develop.
Early in 2024 we commenced investment in a new project to enable a more coordinated approach to supporting young refugees.
Young people living in refugee hostels do not have the same opportunities of accessing safe spaces. Delays in school placements, changes in accommodation and travel costs all affect young refugees' ability to access extra support. This is why we have enabled an offer that allows support to come to them in hostels or at the hub of the Refugee Day Centre, in Croydon. Reedham’s investment has enabled a dedicated post - the family coordinator - who works closely with our other partners so young people can also access other community offerings, removing barriers such as travel or admission costs.
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**Report of the Board of Management** Year to 30 June 2024 ® REEDHAM
Through the ongoing collaboration with CVA, the Croydon Youth Consortium, and others, we want to help make high-quality youth services accessible to all vulnerable children and young people across every part of Croydon. Our vision is ambitious but, as a charity, we remain absolutely committed to playing our part in making this happen with the resources entrusted to us.
I will be stepping down as CEO later this year. My hope is that by the time Reedham celebrates its 200th anniversary, this model of youth provision that we are committed to helping build for Croydon will become the norm.
My thanks to Mike Nevill, who took over Chairman at the start of the year, and to all the trustees, who support the staff team with our operations.
Final thanks to our wonderful staff team and to our supporters for their effort and belief in the transition that we have been making over the past 3 years: to have genuine relevance and become more impactful in our charitable objects. We look forward to 2024 -2025 and the opportunities it will bring to enable us to make a positive difference to the lives of many children and young people in our locality.
SARAH SMART
Chief Executive Officer
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**Report of the Board of Management** Year to 30 June 2024
## **Chairman’s Statement 2023/24**
Reedham Children’s Trust has made great headway with its new strategy. Through the ongoing collaboration with CVA, developing partnerships with youth delivery organizations within the Croydon Youth Consortium, and investing resource into projects to support more vulnerable children.
This year, the Board of Trustees and the staff have been excited to launch our new Youth Innovation Fund, with eight different start-up projects underway or due to commence in Autumn of 2024. We look forward to showcasing these projects, along with our other ongoing development projects in September 2024. This year – 2024 – also marks the 180[th] anniversary of the founding of our charity by Rend Dr Andrew Reed.
We are sorry to have lost the patronage of the Monarch, which Reedham has enjoyed throughout its history, but we understand the many responsibilities of King Charles and look forward to building support for the work of the charity through ambassadors who have a particular interest and commitment to vulnerable children and young people, and to the town of Croydon.
As always, our small staff team has worked incredibly hard over the past year as we continue our ambition to transform the lives of many more young people by investing funds and strategic expertise into frontline organizations to add value to the support services they deliver to vulnerable children and young people across Croydon. A sincere thank-you to them all.
Finally, a sincere thank you to the many who have contributed to our work in so many ways. Fundraising has always been - and will always be - essential as we take this important work forward. Every penny goes directly to helping vulnerable children, making a difference to their lives and prospects. Our founder, Revd. Dr Andrew Reed, would, I think, be pleased with the way we are extending our reach and bringing life-changing support to so many children and young people in need.
Mike Nevill Chairman
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**Report of the Board of Management** Year to 30 June 2024
**Objectives and Activities**
## _**Charity Aims and Objectives**_
The charity’s aim is to enable life-changing support for vulnerable children and young people whose personal, social, health, and educational development is adversely affected by very difficult life circumstances and where no effective statutory support service is available to them at the point of need, continuing the work of our Founder, the Rev. Dr Andrew Reed. Dr Reed established an orphanage, originally called the “Asylum for Fatherless Children” in 1844 in Purley. Subsequently renamed Reedham Orphanage in 1904 and Reedham School in 1950, the school was closed in 1979 due to changing social policy and financial pressures and the proceeds of the sale of the land and buildings were used to set up the charity.
## _**Public Benefit**_
In planning the charity’s activities for the year, the Board continued to refer to the Charity Commission’s guidance on public benefit. The key activities of the charity this year have centred around care and support for vulnerable children and young people and improving their access to educational and recreational opportunity, thereby raising their achievement and life prospects.
## _**Mission**_
To advance the wellbeing and educational achievement of vulnerable children and young people in Croydon.
We seek to do this by working collaboratively with other charities and voluntary sector organisations to achieve a borough wide model of youth provision enabling every vulnerable child and young person in Croydon to have access to quality-assured, voluntary sector services.
## **Achievements and Performance**
## _**Children & Young People’s Services**_
## **Assisted Boarding:**
Reedham has completed its final year of support for the remaining one young person in its Assisted Boarding programme, who has secured a place at Nottignham Univerisity to study Enviromental Biology. This fulfils the charity’s commitment made to young people supported though the programme when the Board of Management took the strategic decision in 2018 to move away from the Assisted Boarding Service in favour of other services which would extend the charity’s reach and maximise support for vulnerable children and young people. This year we have:
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## **Report of the Board of Management** Year to 30 June 2024
- Ensured the safety and supported the wellbeing of the year 13 young person through regular ‘check-ins’ with them, their school, and their family.
- Provided dedicated support from our Youth Partnerships Manager for transition to their life beyond school, preparing them for next steps through information sharing on options and key deadlines for university applications and bursaries, work contracts and assisting with student finance applications.
## **A model of Youth Provision in Croydon**
Reedham has continued its collaborative strategic relationship with Croydon Voluntary Action (CVA) and youth delivery organisations in Croydon’s Voluntary and Community Sector [VCS]
The overarching aim of this collaborative partnership is to orchestrate a Croydon VCS sector strategy for improving outcomes for vulnerable children and young people by providing leadership, co-ordination, and investment, and through building purposeful relationships with, and investing resource in, organisations delivering front line services to vulnerable children, young people, and families.
Specific objectives are:
- Integrate support for vulnerable children and young people within Croydon community placed provision
- Build a reputation for developing strong, trusting relationships with voluntary sector youth service deliverers, enhancing collaborative working and delivering benefits for individual organisations as well as the young people they work with
- Create a data bank of organisations and their services across the borough to map and begin to coordinate provision
- Secure funding which enables delivery organisations to be innovative in their practice plan for the longer term
- Become better at evidencing impact of service delivery in realising positive life outcomes for children and young people
**The Croydon Youth Consortium** (CYC) a consortium of VCS youth service organisations, is now firmly established with an agreed commitment to create a Croydon Model of Youth provision with the capacity to reach every vulnerable young person in the borough.
Underlying Reedham’s strategy to work collaboratively with CVA and the CYC is the belief that by helping to facilitate a cohesive and united effort from delivery partners to meet the needs of all vulnerable children and young people in Croydon through their school career, the charity will maximise its impact. Enabling and monitoring innovative practice in frontline youth delivery organisations will, we believe, enable them to do what they do well, better, across the borough through a joined-up, evidence-based approach that meets quality standards and achieves more for all our vulnerable children and young people.
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## **Report of the Board of Management** Year to 30 June 2024
## **Achievements this year**
## **Youth Innovation Fund**
In October 2023 we launched the Youth Innovation Fund (YIF). We now have eight projects support by the fund, four of which started in April 2024 and four which will commence this September, following on from supported planning time.
## • **Role Models Project**
Weekly workshops for vulnerable girls and young women focused on learning 3D printing skills (STEM based learning) as a platform for exploring who the girls’ role models are and telling their stories in a physically and psychologically safe space. In partnership with Reaching Higher & Aspiring Young Women
- **Box Therapy**
Integrating non-contact boxing with Acceptance and Commitment Therapy. Designed to be more accessible, relevant and effective for young people who are often excluded from mainstream services, including those who are at risk of involvement in serious violence. In partnership with Be Inspired.
- **Bleed and First Aid Kits – distribution and education** .
Working with the Metropolitan Police and local young people, to distribute bleed and first aid kits across South London, with the necessary accompanying education, to save lives through immediate first aid responses to serious youth violence. We will support these young ambassadors to set up and lead further training workshops in first aid with the use of the bleed kits, for their peers across Croydon schools, young person hostels, and youth hubs. In partnership with JFJ Foundation & TRUE Research.
## • **The Creative Empowerment Programme:**
Delivering creative arts skills and therapeutic mentoring to young people in schools and providing them with the opportunity to explore a career in professional DJ-ing, Radio Presenting, Podcasting, Editing and Filming. In partnership with P4YE & Hope Pro UK
- **Empowering Grapple Warriors** - Empowerment Through JiuJitsu is a bespoke programme that provides teenage boys and a key male figure in their life with the opportunity to learn Jiu Jitsu, develop discipline and foster a sense of belonging. In partnership with Holistic Hub.
- **Respect the Game** – A creative arts programme that encompasses the development of musical skills and self-esteem in both custodial and community settings. Specifically targeting those who are hardest to reach, who experience barriers when trying to access services and those with vulnerabilities due to poverty, exclusion from education, negative peer influence or exposure to criminality. In partnership with Syrus Consulting.
- **Inspiring Minds –** A 12-week programme specifically designed for young people in care, who may feel lost or forgotten by the system. The programme focuses on
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## **Report of the Board of Management** Year to 30 June 2024
equipping young people with the tools to work on their personal development and encourages them to take ownership of their learning and well-being. In partnership with Majestic Services.
- **Music Box- Under the Spotlight –** A project to educate, empower, and create opportunities for young people passionate about live music consumption and the mechanics behind strategizing and executing successful events. in partnership with Finesse Foreva.
_“Without Be Inspired I would have gone down a bad route. It's given me an outlook to transfer my frustration into something positive.”_
## **Community Youth Projects**
Reedham has learned from past services to young people that it is through delivery services and relationship building in the w ider community, beyond and in addition to school, that we are most likely to witness the personal and social development needed for vulnerable young people to achieve and flourish. We are committed to enabling and adding value to support services for vulnerable children and young people delivered in community-based settings, which provide a safe place for young people to be and thrive outside school.
## **Legacy Youth Zone (Youth Hub) Croydon Central/Northwest**
## **Schools Outreach and Community Engagement project**
In September 2022, Reedham and Legacy Youth Zone launched the School and Community Engagement project, targeting vulnerable children and young people at risk of not achieving their potential at school. The aim of the project is to facilitate vulnerable young people in schools being better able to access the Legacy Youth Zone and wider community activities, in turn developing their confidence and engagement in school and wider life.
**‘** _**The impact of this work cannot be overstated. We often don’t know what challenges a young person might be facing at home, which is why consistent support from both school and Legacy is crucial. By continuing to bridge the gap between school and Legacy, we provide a holistic approach that not only addresses their immediate needs but also fosters a sense of hope and resilience in these students. This continuity of care can make a profound difference in their lives, giving them the stability and encouragement they need to thrive’**_
Quote from School involved in the School Engagement programme.
A key focus in year two has been to develop the social action side of the programme recognising that for young people to really feel fulfilled they often need to be involved in the project in a way that allows them to have a voice, lead from the front and have a positive influence on their peers.
## _**Young Leaders**_
In Year 2, 30% of young people connected to the project joined the Young Leaders Programme (YLP). The programme is a key part of their development opportunities outlined in their
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## **Report of the Board of Management** Year to 30 June 2024
wellbeing action plans and a great positive intervention. The impact of the YLP has been significant both for themselves and the community.
Throughout Year 2, they have actively supported during junior sessions, leading in activities like cooking and football. They’ve also taken on roles in event planning, such as community days and key events, where they gained experience in public speaking, welcoming guests and supporting the Volunteer Manager in operational planning.
Their consistent attendance during half-terms and afterschool, particularly among those who joined in January, has led to remarkable confidence and growth. These young leaders have attended additional development sessions which in response has strengthened their communication skills, developed leadership abilities, helped build positive friendships and allowed them to make meaningful contributions to their community – all while continuing to access Legacy’s resources.
## _**Schools worked with in year 2:**_
## _**Established relationships with**_
- **The Link** (under Orchard Hill College) SEND school
- Referrals made into the Beyond Limits Club which runs on a Sunday at Legacy (10 young people engaging so far)
- **John Ruskin** working with year 10’s/ 11’s/ 12’s) 8 young people regularly attending Legacy. 3 of the 8 have become young leaders.
- **Shirley High school** referred 10 girls for a 6-week summer pilot, working with the Legacy engagement team.
## _**Continued to work with**_
- The Archbishop Lanfranc Academy
- Oasis Academy Shirley Park
- Elmswood Junior (mainly working year 6 cohort)
- West Thornton Primary School
- Meridian High School
Aidan (name and picture changed to protect identity) had an issue with authority. He was excluded from his previous school and his teachers disclosed that he had the potential to
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## **Report of the Board of Management** Year to 30 June 2024
groom or be groomed by gangs. He had a lot of influence among his peers and teachers believed he could be a gang leader in the future.
Together, (with mum), we worked on a Wellbeing Action Plan bespoke to Aidan and his needs, interests and feedback from teachers. A six-week sports programme at Legacy was agreed by all, and most importantly, Aidan was on board. Each week he had a personal programme and designated Youth Worker who supported him throughout the Youth Zone.
There have been a few bumps along the way, but 6 months later, Aidan has a wide circle of friends. He has used his natural leadership skills positively as part of various sports teams and as gym prefect. Where Aidan has been getting positive reinforcements, we have seen that he is more open and receptive to authoritative figures. He even helped at his school’s Summer Fair – this was great for his teachers to see.
**Kelly, Youth Engagement Lead: “** _**What I love to see is Aidan’s positive influence on his friends. He lets them know what their strengths are and encourages them to pursue their passion. What he needs is people to do the same for him, and I think that’s how we can help. We show him what he’s good at and where he can truly shine.”**_
## **Good Food Matters community space New Addington Croydon South-East**
## **Safe Space project**
This year we began our investment in a safe space in New Addington, to enhance the provision of services for vulnerable children and young people and establish a recognised/dedicated youth hub facility in this community setting.
Cooking club: We currently have an intimate cohort of 12 children participating and aim to grow that 15. Young people can learn and practice recipes in a safe and relaxed environment, with wrap around support on offer. The group spans from 11 to 16 years and includes GCSE Food tech students who expressed a desire to have somewhere to prepare for their practical food exams (without the expense of buying ingredients or worry of not being able to practise at home).
BRITE BOX project: This commenced on the 1[st] of May, as part of an NHS Health innovation fund, with Good Food Matters being the BRITE BOX partner for Croydon. The project began at Rowdown School with the whole of year six (50 pupils) receiving a weekly box as well as a cooking session, to get used to following the recipes. Each box contains pre-weighed ingredients, and a step-by-step recipe designed to be suitable for children and intended for use by families cooking together. The youth group at Good Food Matters play a role in preparing the boxes as well as creating demonstration videos for how to prepare the meals.
## **Croydon North-East**
We have continued to explore, with Croydon Voluntary Action (CVA), the feasibility of establishing a youth hub for service delivery, within the Waterside Centre in South Norwood.
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## **Report of the Board of Management** Year to 30 June 2024
Across Croydon: Organisations within the Croydon Youth Consortium continue to run Holiday activities in the community to keep vulnerable children and young people safe and engaged outside school.
CUT IT OUT – we supported this event and funded the CYC kits. **Cut It Out** is a footballing event born to unite the Croydon community. It provides an opportunity for young south Londoners to play on the pitch at Selhurst Park and introduce at-risk young people to local organisations that can help divert them away from gang activity and crime
## **Supporting relief in need and the join up of provision of services to young refugees and unaccompanied asylum seekers**
## **Support for Young Refugees and Unaccompanied Asylum Seekers**
Reedham has funded a new position at Refugee Day Centre, with the following goals:
1. To offer practical, hardship support to families with children, by providing direct support with items such as food vouchers, school uniform vouchers (via our partnership with **Uniformed** ) and travel support, and by signposting families to the **Tuesday Practical Support Centre** for further help.
2. To build links with and refer and signpost families to other organisations that offer opportunities and support for young people, including current partners such as The Happy Baby Community and Little Village for 0–3-year-olds and Young Roots, Hope for the Young and Palace for Life for young people.
3. To build new links and partnerships with other organisations such as Good Food Matters who can support the 8–14-years age group, and signpost and refer families and children to these services.
4. To support and empower families new to the area (and the country) by helping them understand and navigate UK educational and child-related systems, especially supporting with in-year school applications (building the links to facilitate this with the Council Education Team, the Council Displaced Persons Team and individual schools, as necessary) and accessing extra support for children with special needs.
5. To work with the Operational Coordinator and Centre Manager to run activities for children not yet attending school, at Wednesday Welcome sessions, and to run one-off outings and activities in school holidays (funding permitting); to build links with other organisations (through the South London Refugee Forum) across Croydon who can offer support in school holidays.
6. To offer on-the-ground guidance and support to Family Support Volunteers within the team.
## _**Successes so far:**_
In the last month, the family Coordinator, Lucy, has made or re-established links with other organisations that will make a big difference to the support we can offer teenagers in Home Office accommodation with no school place. Two Afghan sisters have just started at The Baytree Centre’s **Into Education** programme in Brixton, with a clear referral process now in place, and Lucy has started to make referrals to Legacy Youth Zone in Croydon as well as
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## **Report of the Board of Management** Year to 30 June 2024
exploring links with Duffus Community Foundation for extra support for young refugees and Asylum seekers outside of school. We have confirmation, also, that displaced children not in school will have access to Croydon’s HAF programme.
Within the centre itself, Lucy has started to create a more teen-friendly ‘zone’ during Wednesday’s family support programme, where young people can socialise and play games with some of the younger volunteers, whilst she works with their parents on securing school places.
Lucy is working with the rest of the CRDC team to decide how best to use the uniform budget, including planning some special uniform drop-ins over the summer holiday to ensure that children are starting school with confidence.
Lucy’s priority, moving forward, will be pursuing Croydon council’s school admissions contacts to try to ensure provision for those entering Year 11 in September, and for Year 10s and 11s arriving over the course of the year. She would also like to pick up any new arrivals with 4 and 10-year-olds yet to do e-admissions to start new schools, and older teenagers who will be eligible to apply for college.
## **Expansion of the project**
Further to the agreement with Reedham, RDC have been successful in applying for grants to expand the project. With the support of our Reedham Fundraising Manager, they have obtained £7,500 towards provision of school uniforms and related essential and £2,880 for food vouchers.
## _**Under 10’s healthy start programme**_
## **Reedham Children’s Trust supported CRDC with a £3840 grant for a 12-month food voucher pilot project, running up to June 2024.**
-35 individual children from 21 families all living in Hayes Thorpe Hotel were supported from July 2023-Apr 2024 with food vouchers.
-5 additional food vouchers were also supplied outside the project to families that had been moved on from hotel living before funds for basic needs were in place (either universal credit or an increased asylum allowance). This enabled families to buy food whilst we supported them to access finance and food banks.
-167 food vouchers have been supplied in all (73 currently remaining – will supply JuneSeptember at current estimates).
_Outreach volunteer, CRDC: “Distributing the food vouchers once a month has put me in contact with families who would not have made contact with CRDC otherwise, giving them an opportunity to access our services, get children into education, receive clothing and shoes, ask for advice._
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## **Report of the Board of Management** Year to 30 June 2024
_I know that these vouchers have also had a hugely positive impact on providing some variety to the diet experienced at the hotel, really important for those who are there for longer than the 3-week menu rotation. It has allowed parents to purchase breakfast items, offering their children fresh fruit/juice and some choice for cereal, rather than just cornflakes every day. The difference that £15 a month can make to someone’s mental health, as well as their physical health, has been amazing to see. It offers choice, which gives some element of control back to families who have had most normal choice taken from them and brings them closer to some sense of normality._
_Huge thanks to Reedham – they have improved the lives of so many families through this gesture.”_
_Parents living in asylum hostel:_
_“We are glad to get the vouchers as they had a valuable influence on our children to have a variety of fruits and healthy and varied breakfast. Yes, they are making a difference. Thank you!"_
_"In spite of their little value, the food vouchers have an incredible impact as they make an addition to the food diet of our children."_
## **Schools Food Voucher programme**
This year Reedham Children’s Trust has managed to secure £5162 in food vouchers and £1435 in physical food donations specifically for schools. (Food vouchers and food items have also been donated to other partner organisations).
This scheme has supported 5 local primary schools within Croydon, who have distributed to the families they feel are most in need.
_A family was gifted a food voucher to use as they wished at a local supermarket. The mum spoke with the family support worker around two weeks later and explained the simple pleasure of going shopping with her children and picking out foods which they have grown up eating. It gave Mum a sense of pride and normality, shopping for foods and planning on what to buy with her children._
_As the family have made a number of friends from the same culture at the emergency accommodation which they’ve been placed, mother cooked a large traditional dish and invited others to join her family._ _**This brought such happiness, unity and normality to a very difficult time for the family** . They were extremely grateful for the support._
## _**Strategic Partnerships**_
This year, Reedham has significantly progressed its collaborative strategic relationship with Croydon Voluntary Action (CVA) and voluntary sector youth delivery organisations in the Croydon Youth Consortium (CYC)
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## **Report of the Board of Management** Year to 30 June 2024
We have consulted on and launched the YIF application and award process, securing fifteen project applications and awarding investment grants for eight innovative projects involving eleven organisations.
We have liaised with other potential funders to boost support for members of the CYC e.g. Wates
With CVA, we have helped to create a collective identity and the beginnings of a brand for the CYC, working together on applications to bring funding into Croydon for youth delivery services to vulnerable children and young people. We have begun the process of establishing a credible and up to date database for members of the CYC which serves a due diligence and quality assurance function. We have created a CYC logo, which premiered at the Cut it Out event at Selhurst Park Stadium in early June this year.
## **Vision & Mission**
Underlying Reedham’s strategy to work collaboratively with CVA and Croydon VCS youth service organisations is the belief that by playing a part in a cohesive and united effort to meet the needs of vulnerable children and young people in Croydon throughout their school career, the charity will maximise its impact. Enabling and monitoring innovative practice in frontline youth delivery organisations will, we believe, enable them to do what they do well, better, across the borough through a joined-up, evidenced approach that meets quality standards and achieves more for all our vulnerable children and young people.
In 2024/25 we shall
- Continue to strengthen and grow the collaborative partnership with CVA and the Croydon Youth Consortium through year two of the Youth Innovation Fund and supporting CVA with applications for external funding, using the CYC strategically as a delivery body for support services to vulnerable children and young people.
- Continue to explore investment in community-based settings/hubs across Croydon for delivery of youth services, particularly in Selhurst, New Addington and South Norwood.
- Develop further relationships and potential partnership working with organisations who support young people with additional needs, and other groups who are currently underrepresented in the CYC. E.g. those actively support young refugees and unaccompanied asylum seekers, and young people with additional learning needs.
- Work with CVA and Simply Connect, seek to create an interactive gateway into youth service provision across Croydon, providing information for young people , parents, and professionals in a standardised and comprehensive setting, easy to access and indicating a unified approach to youth service delivery across Croydon.
## _**Fundraising**_
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## **Report of the Board of Management** Year to 30 June 2024
During 2023-2024, Reedham Children’s Trust has continued to build relationships with existing and new individuals, companies and groups to provide a more sustainable financial future for the charity and the children and young people we exist to help.
## **Donors**
We are especially grateful for the committed support of our long-term supporters. We would like to extend a special thanks for their ongoing support this year to:
## **Reedham Guardians**
- W Paul Julius BSc (Hons) FloD
- Richard Link
- Charles and Joanna Pope
- Patricia Phillips
## **Ambassador,** Henry Weir
## **Reedham Children’s Champions – individuals**
- Anne Fixter
- Catherine Williams
- Paul Reed
- Liz Collins
- Rawle Beckles
- Judith Kidd
- Mr Southerden
- Peaty
- Janet Wood
## **Reedham Children’s Champions – companies and groups**
- Centrale & Whitgift, Croydon
- SE Interiors Ltd
- Merry Maids of Croydon
- Royal Russell School
- The BRIT School
- Christ Church Methodist, Addiscombe
- Transform to Fit (T2FIT)
- Morrisons, Purley Way
- Snapchat
- Johnsons 1871
- Spring Move
- Waitrose Coulsdon
- Lidl Morden
- Tiny Trees
- Waitrose Fulfilment
- Dance Mode Academy
- Ockenden Lodge
- Christchurch Purley
- Dunelm Croydon
- Stile Harold William Partnership
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## **Report of the Board of Management** Year to 30 June 2024
- Tiny Tree Tops
- Neighbourly
- Hodes and Weill
- GANTS HILL URC
- ADDISCOMBE & Shirley Rotary
- Acrisure
- Margaret Roper School
- Pension Protection Fund
- St Mary & St Shenouda’s Coptic Orthodox Church
- Wates Construction
## **Trusts and Foundations**
- Greendale Foundation
- Gwen Julius Charitable Trust
- French Huguenot Church of London Charitable Trust
- Albury’s Charitable Foundation
- Green Hall Foundation
**In Loving Memory** of our long-term Children’s Supporters
- Dr John Lloyd
- Mr D Thackray
- Mr GP Mills
- Brenda Loasby
- Mr and Mrs Jewell
## **Fundraising**
## **Croydon Children’s Champions**
Underpinning all our fundraising activities is our on-going Children’s Champion campaign, supported by community groups and individuals across Croydon. Champions can get involved in many ways from volunteering, donating to events- here are a couple of examples of the fantastic support this year.
One of our Children’s Champions, Croydon FC, put on a special day out for Reedham Children’s Trust. 16 young people were invited to watch Croydon FC V Tooting Bec FC, they got to meet the players, some were mascots and others got to be ball boys/girls, helping throughout the match. Croydon FC was victorious, and the young people became part of the team celebration (see pic). A fantastic day ending with delicious pizza courtesy of the football club.
South Croydon Sports Club put on a fantastic sports day for 30 young people where they learned to play Hockey, Tennis, and Badminton with professional coaches. The club continue to support Reedham Children’s Trust and will be offering regular sports coaching from September 2024.
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## **Report of the Board of Management** Year to 30 June 2024
## **School Uniform appeal**
This year we launched our schools’ essentials campaign, seeking to source new and pre-loved school uniforms, shoes, PE kits and other school essentials for families that simply can’t afford them. Partnering with Snapchat, over 50 items were donated in the first month alone.
## One of the beneficiaries is children seeking asylum, one mother tells us what this campaign means for her son:
_A new school uniform for a child who is an asylum seeker marks a break away from the feeling that he was marginalised for as long as he was not at school like his peers. It gives him the sense of belonging to a school and to a community after some time of feeling ignored and detached from the society. It brings hope for a better future and makes him feel equal to his peers.”_
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## **Report of the Board of Management** Year to 30 June 2024
## **Food and Food Vouchers**
With the cost-of-living crisis and the soaring costs of food, Reedham raised funds to support vulnerable families with physical food donations and food vouchers.
At Christmas we were able to provide £2,904.41 worth of physical food to the Croydon Refugee Day centre supporting those living in emergency or dispersal accommodation and four community schools
Across the year we have been able to provide food vouchers for vulnerable families within five of our community schools, and provide monthly vouchers for 35 children living in emergency accommodation.
Thank you so much to SE Interiors, Merry Maids of Croydon, Leapfrog Day Nursery, Waitrose Coulsdon, Green Hall Foundation and the many individuals who have donated specifically to provide this vital support.
## **Christmas 2023**
Providing relief at Christmas has long been a priority for Reedham Children’s Trust, to ensure local vulnerable children receive at least one present to open on Christmas day and to provide food for each family. We are truly grateful for the amazing kindness from our supporters and local residents. Our sincerest thanks, once again, for making Christmas special and coming together to help those who are vulnerable within our community.
We received:
- 1,853 presents for children ages 0-18
- £2,715 in donations for presents or gift vouchers
- £2,904 worth of physical food
- £3,930 in donations for food vouchers
The total financial support including gifts in kind and gift aid, for Christmas 2023 slightly exceeded £30,000. Presents were distributed across six primary schools and seven local children and young people’s charities.
We were incredibly fortunate to receive support from 54 individuals and 19 companies/local groups -a special thank you goes to Centrale & Whitgift, Merry Maids of Croydon, T2FIT, The
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## **Report of the Board of Management** Year to 30 June 2024
BRIT School, Royal Russell School, Morrisons Purley Way, Christ Church Methodist, Addiscombe, Christ Church Purley, Acrisure, Wates Construction, Snapchat, Spring Move, Stile Harold William Partnership LLP, Dunelm, Hodes and Weill, Johnsons 1871, St Mary & St Shenouda’s Coptic Orthodox Church, Tiny Tree Tops, Lidl Morden and all the individuals that donated via Amazon or Centrale & Whitgift.
## **Partner Gifts: Centrale and Whitgift**
Reedham Children’s Trust was again nominated as Centrale and Whitgift’s main charity beneficiary for their Christmas campaign 2023. Hundreds of members of the Croydon community donated many wonderful presents.
## **Partners Food: SE Interiors Ltd and Merry Maids of Croydon**
We were delighted to partner with Merry Maids of Croydon for the second year running and welcome new partner SE Interiors. Together they supported 100 families over the Christmas period and beyond.
## **Image of Merry Maids / Image of SE interiors**
## **Volunteer support**
As a local charity, we value our volunteers highly, they are a huge part of making our work possible. Over the Christmas period, we were lucky enough to have the support of 63 amazing volunteers from the **People’s Pension Fund** . Multiple teams took part across the month of December diligently logging over 1,800 presents, allocating each present to the right child, lovingly wrapping and labelling each gift – and in some cases delivering them to our charity partners to distribute Thank you so much to the People’s Pension Fund, we really couldn’t have done it without you!
Thank you also to all the individual volunteers that helped us throughout the year
## **Working with partners**
As part of our new approach to working with a greater number of grassroots organisations across Croydon, we have also begun to provide Fundraising support to help our partners identify and secure potential revenue streams. This year we have successful helped two partners secure £18,380 in donations so far.
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## **Report of the Board of Management** Year to 30 June 2024
## _**Governance**_
The Board of Management has continued to monitor and review the charity’s business and financial strategy, focusing on the first operational year of its new strategy to reallocate a significant portion of the charity’s capital investment into an innovative Youth Innovation Fund (YIF) to enable better access to high quality, coordinated support services by vulnerable children and young people across Croydon, and thereby maximise its charitable impact.
## **Three-year Business plan 2023 -2026**
## **Advisory Committee for YIF (AC YIF)**
Having developed the Model for Youth Provision and the Memorandum of understanding between Reedham and CVA, approved by the Board last year, the AC YIF has this year moved into its crucial function of quality assuring applications from CYC partners to recommend to Reedham Board for investment sign off. The committee has met on 3 occasions to interview project applicants and to make recommendations to the Board of Trustees.
The Board has been particularly mindful of:
- The development of a recording and reporting framework to monitor impact of investment in innovative projects on organisations’ potential to deliver radical, effective youth work.
- Numbers of children and young people able to access and benefit from these front-line support activities across all parts of the borough of Croydon.
- The ability of voluntary sector organisations to join up/collaborate and increase support and social impact for young people and their families.
- Fundraising opportunities for this kind of strategic approach.
## **Governance Review**
The Board of Management is committed to excellence in governance and ongoing self-review and development. This year the against the Board continued its cycle of review of governance, undertaking self-review against the principles in the Charity Commission’s Code of Governance during its annual awayday.
Having identified last year a need to strengthen its composition the Board was delighted to recruit a young professional with experience of voluntary sector youth delivery service in Croydon.
Mr Michael Nevill succeeded Rev. Jeremy Groombridge as Chairman.
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## **Report of the Board of Management** Year to 30 June 2024
## **Plans for Future Periods**
## _**Youth Partnership Services**_
**Youth Innovation Fund Projects** We expect to award our second round of grants through our new Youth Innovation Fund in early Spring 2025, with up to a further 10 innovative projects commencing during the financial year.
**Schools and Community Engagement (Outreach) programme** In 2024-2025, we shall be investing in year 3 of the Schools and Community Engagement (Outreach) programme, a collaborative venture with Legacy Youth Zone, aimed at increasing our engagement with vulnerable young people in Croydon via outreach through schools and community.
We learnt from year two that parental buy-in is key in young people being able to regularly attend Legacy. Year 3 will therefore focus on strengthening parental engagement, investing extra time and resource for outreach here.
**Our Space Project: New Addington** We will be investing in year 2 of our Safe Space Project with Good Food Matters, a community-based setting in New Addington. The project has a commitment of three years of funding, subject to annual reviews. Our focus for year 2 will be on growing the offer for the senior cohort (13 upwards) and strengthening the alternative education opportunities and qualifications that can be gained in cooking and horticulture.
**Young Refugees:** The project in partnership with Refugee Day Centre is very much a response to need initiative, and with this comes the need to adapt the ever-changing landscape young refugees and their families are navigating. Whilst accessing education remains a top priority, we will respond to the issues raised by families living in hostels and empower them to help shape future iterations of the project.
**Holiday activities to keep vulnerable children and young people safe and engaged outside school** We will continue to signpost all the young people with whom we have a connection, to local provision in the area including Legacy Youth Zone holiday clubs, Reaching Higher’s Summer Blitz programme in July and August 2024, and Good Food Matters half term provision. We will also work towards organising more sport-fun-days with South Croydon sports club for young people engaged in the Our Space project.
**Food voucher awards** We will continue to support families in need with food vouchers through two local schools as well young refugees in partnership with the Refugee Day centre.
## _**Strategic Partnerships**_
In 2024/25 we shall be
- Strengthening the collaborative partnership with CVA and the Croydon Youth Consortium through the second round of the Youth Innovation Fund as well as working on joint bids involving the delivery services of the CYC membership.
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## **Report of the Board of Management** Year to 30 June 2024
- Continuing to explore investment in community-based settings/hubs across Croydon.
- Developing further relationships and potential partnership working with organisations 1. Supporting young people with additional needs, thinking about how we make our current offers more accessible to this cohort of young people.
2. Parents of vulnerable young people, recognising the impact parents have on young people accessing community offerings.
## _**Fundraising**_
## **Fundraising 24/25 plans**
In 2024/25 we will continue to broaden our fundraising to supplement the resources we invest in youth innovation projects which provide face-to-face support to vulnerable children, young people, and their families, across Croydon.
Specifically, we will be:
- Supporting new and existing partner charities to raise their profile and to identify and secure future funding
- Seeking philanthropic support to invest in youth innovation
- Work with companies and groups across Croydon to support a financial investment into young people in Croydon
- Growing our key campaigns - Croydon Children’s Champion, Schol Uniforms appeal and our Christmas Toy and Food Voucher appeal
We are delighted to be partnering with Centrale and Whitgift again this Christmas, for a fifth year; with many other local companies and groups pledging their support also.
## _**Governance**_
Next year, the Board will be giving continued focus to recruitment and strengthening its capacity to effectively monitor, review, and advocate for its new strategy to maximise the charity’s impact in delivering support to vulnerable children and young people across Croydon through collaboration with CVA and investment in Croydon Voluntary and Community Youth delivery organisations.
The Board will again undertake a skills audit to identify any gaps in expertise across the breadth of its compliance responsibilities and will continue to consider how its membership can better represent the life experience of the children and young people and families the charity exists to help. The creation of a youth advisory board is to be considered.
The Board will be particularly mindful of:
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## **Report of the Board of Management** Year to 30 June 2024
- The impact of investment in innovative projects on organisations’ potential to deliver radical, effective youth work.
- Numbers of children and young people able to access and benefit from these front-line support activities across all parts of the borough of Croydon.
- The ability of voluntary sector organisations to join up/collaborate and increase support and social impact for young people and their families.
- Fundraising opportunities for this kind of strategic approach.
**Structure, Governance and Management**
## _**Governing Document**_
Reedham Children’s Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 30 June 1981 and registered as a charity with the Charity Commission on 9 June 1963 (initially as Reedham School, subsequently as Reedham Trust and, from 13 June 2014, Reedham Children’s Trust).
## _**Appointment of Members of the Board of Management**_
The members of the Board of Management, who are also directors of the company and trustees for the purpose of charity law, are appointed in accordance with the Articles of Association of the company. Term of office for members is an initial tenure of three years with a further three-year review cycle as maximum, unless there are extenuating circumstances such as a chairman completing term of office.
The charity benefits by having Board members from a wide variety of backgrounds, with a diverse range of skills. The charity values the balance of long-standing experience of the growth of the charity, with new skills, expertise and vision brought in by regular turnover of tenure. This balance ensures the continuity of the strategic aims and vision of the charity while being open to fresh appraisal and innovation.
## _**Board Members’ Induction and Training**_
The Board of Management is committed to annual review of governance. Each trustee and the Senior Manager (currently the CEO) are required to complete an annual declaration form of Conflict of Interest and to renew their declaration that they are fit to serve as a Trustee.
New Trustees are sent comprehensive information about the work of the charity, including the charity’s Memorandum and Articles, the Business Plan and the Annual Report and Financial Statements, and are invited to an induction meeting with the CEO to familiarise themselves with the charity and the context within which it operates. There is a trustee training and development area on our server with links to current guidance for trustees They are made fully aware of the obligations of members of the Board of Management, principles for good governance, and the resourcing and current financial position of the charity as set out in the latest financial statements. The Board is currently working through an in-depth review of each of the principles in the code of good governance,
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## **Report of the Board of Management** Year to 30 June 2024
Trustees are required to attend training sessions and seminars held on relevant issues, including governance, finance and safeguarding throughout the year. All trustees attend an annual away day which has a developmental focus. They also visit schools and community organisations attended by young people who are supported by the charity and attend major events held by other charities and institutions throughout the year.
Each Trustee has an annual one to one review with the Chairman to develop ideas and to ensure that trustees are providing maximum support and to identify any development needs. Trustees are also invited to have one to one sessions/creative thinking time with the CEO.
The charity has recognised and celebrated the diversity of our Board in respect of gender and ethnicity, but it also recognises the need to monitor and increase its diversity.
## _**Compliance**_
The charity takes individuals’ right and safety of personal information seriously. We have undertaken an extensive annual review of the organisation’s data systems and processes in line with our ongoing GDPR (General Data Protection Regulations) compliance.
Our fundraising strategy is key to sustaining the work of the charity in supporting vulnerable young people. We are members of the Fundraising Regulator and comply with the Fundraising Code of Practice.
We have had no complaints regarding our fundraising during the year. We aim to respond to all complaints individually and promptly. Our complaints procedure is on our website and any complaints would inform our fundraising strategy going forward.
The charity does not use any third-party fundraisers. We never undertake cold calling nor cold mailings. Our approach is to increase our donor base through personal introduction and ongoing communication with consent. As a charity we are diligent in respecting and seeking to protect the rights of vulnerable people.
## _**Organisation**_
Members of the Board of Management administer the charity and are listed within this document and on our website. There are currently 7 members of the Board, which meets on a quarterly basis.
Until October 2022 there were two sub-committees working with specific responsibilities delegated by the Board:
Finance, Fundraising and General Purposes Committee
This committee was wound down by Board of Management consensus in November 2022. The purpose of the Finance, Fundraising and General Purposes (FF&GP) Committee was to report and make recommendations to the Board of Management regarding the best use of the charity’s resources. The committee ensured that all trustees are fully aware of their responsibilities regarding financial and asset management and the current regulatory environment as outlined by the Charity Commission. The committee also oversaw and monitored fundraising income on behalf of the Board of Management, ensuring the advancement of the fundraising capacity of Reedham Children’s Trust by reviewing and promoting the fundraising, marketing, and communication strategies. These responsibilities now sit directly with the Board of Management i.e., all trustees. ~~ee~~
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## **Report of the Board of Management** Year to 30 June 2024
The major financial objective of the Board of Reedham Children’s Trust is to fund its activities. Investments are held to generate capital returns more than inflation and to achieve sustainable total returns within its risk profile. It has a clearly defined Investment Policy Statement, which sets out the charity’s specific goals and objectives and which was, until October 2022, reviewed annually by the FF&GP Committee. This responsibility now sits directly with the Board of Management.
In terms of implementation, Reedham Children's Trust delegates the day-to-day management of its investment assets, under a discretionary management contract, to an FCA regulated investment management company who report, on a regular basis, to the CEO, to the lead trustee for finance and investment, and to the Board of Management.
The prudent financial management of the charity’s funds over past years has enabled the organisation to underwrite the commitment we make to children and families when we have awarded grants for assisted boarding or specific projects to benefit vulnerable children and young people.
## Children’s Services Committee
The purpose of the Children’s Services Committee in recent years was to oversee the quality and efficacy of the service delivery to children, young people, and their families. The committee also monitored the safeguarding policy and procedures.
The Board of Management made a decision in November 2023 to wind down the committee and absorb its responsibilities directly, being of key importance to all members within the context of the charity’s new strategy to support vulnerable children and young people.
## _**Responsibilities of the Board of Management**_
The Board is responsible for preparing the Report of the Board of Management and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that year. In preparing financial statements giving a true and fair view, the Board is required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles of the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102).
- make judgements and estimates that are reasonable and prudent.
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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## **Report of the Board of Management** Year to 30 June 2024
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Board is responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006 and the applicable Charity (Accounts and Reports) Regulations. The Board is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## _**Key management personnel**_
Ms Sarah Smart continued in the role of Chief Executive Officer (CEO), managing the daily operation of the charity. The CEO and Board of Management are deemed to constitute key management personnel. The salary of the CEO is reviewed annually by the Board of Management. No Board member received any remuneration during the year.
## _**Risk Assessment**_
The Board has in place a detailed Risk Management Policy and Board members meet annually to review the charity’s governance, operational and financial risks. These procedures include identification of the types of risk to which the charity is exposed, estimation of the likelihood of occurrence and potential impact, and identification of the means to mitigate the effects of major risks. The key risks identified by the charity are:
- Loss of key staff: There are systems in place which demonstrate value and respect for our staff, such as appraisal for professional development and flexible working opportunities. We have identified our core activities, and all staff are aware of cover procedures to manage these if needed. There is detailed succession planning and handover periods where required.
- Disaster recovery and loss of property: There is a formal disaster recovery plan which is reviewed annually by trustees. Electronic documents and emails for the Trust are stored securely in the cloud using Microsoft Office 365. The Trust maintains a server at the office which holds the financial database and the Children’s Services database. This server is securely backed up to the cloud using Microsoft’s cloud backup services. The Trust contracts with an external IT support provider to assist in the configuration and management of its on-premises and cloud-based services.
- All staff have remote access working facilities and can work from home in the event of a disaster or major risk, such as we have employed during the pandemic.
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## **Report of the Board of Management** Year to 30 June 2024
- Protection of our assets and generating future income: We have an investment policy and reserves policy which is reviewed and agreed annually. Investment monitoring and reporting of performance is undertaken quarterly, and meetings with our investment manager bi-annually. We have specialist investment expertise represented on the Board.
## _**Financial Review**_
The total income for the year amounted to £287,387 (2023: 379,906 ). The decrease in income is due to a decrease in dividend income from the investment portfolio.
Total expenditure for the year amounted to £550,631 (2023: £521,528).
Grant awards are monitored on a quarterly basis, and reviewed annually. Regular reassessment of the charity’s priorities and grant-giving practices takes place to ensure that funds are expended as effectively as possible.
## _**Investment Policy**_
The charity’s current investment policy is based on the view that in a low interest rate and yield environment it should not pursue a policy biased towards an investment income target. The Board has adopted a long-term strategic approach with the flexibility to follow the principles of a total return policy. Any shortfall in the budgeted investment income could, therefore, be made up by an equivalent amount being realised from the investment portfolio.
Regarding investment assets allocation, Investec is appointed by the Board to manage a passive portfolio of 50% UK Equity Tracker Funds and 30% Overseas Equity Tracker Funds and 20% allocation to actively managed Property Funds. The Board based on Investec’s recommendation has agreed to modify the asset allocation going forward to reflect the changing landscape of investment opportunities available. The investment assets will be allocated as follows; Global Equities Tracker Funds (57% - 90%), active bond funds for investment grade credit (5%-28%), property funds (0% - 10%) and cash (0% - 17.5%). Whilst the performance benchmark is a fixed weight one, rebalancing around the benchmark would occur within set parameters. The performance of all assets is assessed against recognised indices. The investment total return for the year was 16.3% compared to a benchmark of 16.4%.
## _**Reserves Policy**_
The charity’s total reserves at 30 June 2024 amounted to £9,407,549. The fixed asset fund and designated fund of the charity represents the carrying value of the charity’s tangible fixed assets and investments at 30 June 2024. The fixed asset fund has been ring-fenced in a separate fund to demonstrate that the assets are being held by the charity for the long term; the tangible fixed assets for use in the running the charity’s activities; and the investments for the generation of future income. The designated fund is held to fulfil Reedham’s grant commitments to support our current children and young people.
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## **Report of the Board of Management** Year to 30 June 2024
During the year, the Board oversaw year one of its 3 year strategic and financial plan and in alignment with that plan, reviewed the Reserves Policy (the “Policy”) to ensure the delivery of the plan while ensuring at the same time it continues to meet the existing commitments of the charity. The Board continued the Policy whereby a minimum level of unrestricted reserves would be maintained to cover its commitments - being the sum of all project costs and the next three years of operating costs to ensure stability of services to support vulnerable children and young people.
As of 30 June 2024, the unrestricted reserves of the charity were £9,401,447 which exceed the commitments of £2,800,000 as required by the policy.
The Board of Management will, on an annual basis, review compliance of the policy.
## _**Going concern**_
The Board of Management have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Board of Management have made this assessment in respect to a period of one year from the date of approval of these financial statements.
The members of the Board of Management consider that the returns on the investment portfolio together with the underlying capital value are sufficient to meet the anticipated grant commitments for the future years, if required.
The Board of Management have therefore concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern.
Approved by order of the Board on:
M Nevill
Chairman
12 March 2025
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**Independent auditor’s report to the members of Reedham Children’s Trust**
## **For the year to 30 June 2024**
## **Opinion**
We have audited the financial statements of Reedham Children’s Trust (the ‘charitable company’) for the year ended 30 June 2024 which comprise the statement of financial activities, the balance sheet, and statement of cash flows, the principal accounting policies and the notes to the financial statements. 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 statements:**
- give a true and fair view of the state of the charitable company’s affairs as at 30 June 2024 and of its income and expenditure for the 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 Standards on Auditing (UK) (ISAs (UK)) and 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 company 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 is 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 Board of Management’s use of the going concern basis 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 charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Board of Management 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 and financial statements,
## **Independent auditor’s report to the members of Reedham Children’s Trust**
## **For the year to 30 June 2024**
other than the financial statements and our auditor’s report thereon. The Board of Management is responsible for the other information contained within the annual report and financial statements. 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 materially 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.
We have nothing to report in this regard.
## **Opinions 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 Board of Management’s report, which is also the directors’ report 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 Board of Management’s report, which is also the directors’ report for the purposes of company law, 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Board of Management’s 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, or returns 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 Board of Management’s remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Board of Management was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Board of Management’s report and from the requirement to prepare a strategic report.
## **Independent auditor’s report to the members of Reedham Children’s Trust**
**For the year to 30 June 2024**
## **Responsibilities of the Board of Management**
As explained more fully in the responsibilities of Board of Management’s statement, the members of the Board of Management (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 as the Board of Management determines 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 Board of Management is responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Management either intends to liquidate the charitable company or to cease operations, or have no realistic alternative 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 that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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:
- We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company. We determined that the following laws and regulations were most significant: The Companies Act 2006, the Charities Act 2011 and The Statement of Recommended Practice (SORP (FRS102)).
- We understood how the charitable company is complying with these legal and regulatory frameworks by making enquiries to management and those responsible for legal and compliance procedures. Through our enquiries we corroborated these views by our review of Board minutes.
- We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur.
## **Independent auditor’s report to the members of Reedham Children’s Trust**
## **For the year to 30 June 2024**
Audit procedures performed by the audit team included:
- Enquiries with management, whether they have any knowledge of any actual, suspected or alleged fraud;
- Challenging assumptions and judgements made by the Board of Management in its significant accounting estimates;
- Identifying and testing journal entries; and
- Assessing the extent of compliance with the relevant laws and regulations, as part of our procedures.
As a result of our procedures we did not identify any key audit matters relating to irregularities.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the members of the Board of Management and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due 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.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **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.
Katharine Patel (Senior Statutory Auditor) For and on behalf of Buzzacott LLP, Statutory Auditor 130 Wood Street London EC2V 6DL
Date: 17 March 2025
**Statement of financial activities** Year to 30 June 2024 (Including an income and expenditure account)
||||Unrestricted|||||
|---|---|---|---|---|---|---|---|
|||General|Fixed asset|Designated|Restricted|**Total**|Total|
|||fund|fund|fund|fund|**2024**|2023|
||Notes|£|£|£|£|**£**|£|
|**Income and expenditure**||||||||
|**Income from:**||||||||
|Donations and legacies|1|72,575|–|–|21,552|**94,127**|111,878|
|Investments|2|193,260|–|–|–|**193,260**|268,028|
|**Total income**||265,835|–|–|21,552|**287,387**|379,906|
|**Expenditure on:**||||||||
|Raising funds||||||||
|. Investment management||||||||
|costs||29,921|–|–|–|**29,921**|23,914|
|. Fundraising and event||||||||
|costs|5|139,963|4,009|–|–|**143,972**|142,464|
|Charitable activities||||||||
|. Children’s services|6|334,030|6,013|17,811|18,884|**376,738**|355,150|
|**Total expenditure**||503,914|10,022|17,811|18,884|**550,631**|521,528|
|**Net (expenditure) before**||||||||
|**transfers and net gains on**||||||||
|**investments**||(238,079)|(10,022)|(17,811)|2,668|**(263,244)**|(141,622)|
|Net gain on investments|9|–|1,144,212|–|–|**1,144,212**|74,473|
|**Net (expenditure)/income**||(238,079)|1,134,190|(17,811)|2,668|**880,968**|(67,149)|
|Transfers between funds|12|229,087|(226,898)|(2,189)|–|**–**|–|
|**Net movement in funds**||||||||
|**before other recognised**||||||||
|**gains**||(8,992)|907,292|(20,000)|2,668|**880,968**|(67,149)|
|**Other recognised gains**||||||||
|Gain on revaluation of fixed|8|||||||
|assets||-|133,977|-|-|**133,977**|-|
|Net movement in funds for||||||||
|the year||(8,992)|1,041,269|(20,000)|2,668|**1,014,945**|(67,149)|
|Total funds brought forward||||||||
|at 1 July 2023||129,701|8,239,469|20,000|3,434|**8,392,604**|8,459,753|
|**Total funds carried forward**||||||||
|**at 30 June 2024**||**120,709**|**9,280,738**|**-**|**6,102**|**9,407,549**|8,392,604|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities in both years.
34
## **Statement of financial activities** Year to 30 June 2023 (Including an income and expenditure account)
||||Unrestricted|||||
|---|---|---|---|---|---|---|---|
|||General|Fixed asset|Designated|Restricted|**Total**|Total|
|||fund|fund|fund|fund|**2023**|2022|
||Notes|£|£|£|£|**£**|£|
|**Income and expenditure**||||||||
|**Income from:**||||||||
|Donations and legacies|1|39,188|–|–|72,690|**111,878**|251,645|
|Investments|2|268,028|–|–|–|**268,028**|245,450|
|**Total income**||307,216|–|–|72,690|**379,906**|497,095|
|**Expenditure on:**||||||||
|Raising funds||||||||
|. Investment management||||||||
|costs||23,914|–|–|–|**23,914**|25,145|
|. Fundraising and event||||||||
|costs|5|138,272|4,192|–|–|**142,464**|174,333|
|Charitable activities||||||||
|. Children’s services|6|210,103|6,287|37,685|101,075|**355,150**|593,321|
|**Total expenditure**||372,289|10,479|37,685|101,075|**521,528**|792,799|
|**Net (expenditure) before**||||||||
|**transfers and net gains/**||||||||
|**(losses) on investments**||(65,073)|(10,479)|(37,685)|(28,385)|**(141,622)**|(295,704)|
|Net gain (losses) on||||||||
|investments|9|–|74,473|–|–|**74,473**|82,024|
|**Net income/(expenditure)**||(65,073)|63,994|(37,685)|(28,385)|**(67,149)**|(213,680)|
|Transfers between funds|12|(13,887)|78,949|(65,062)|–|**–**|–|
|**Net movement in funds**||(78,960)|142,943|(102,747)|(28,385)|**(67,149)**|(213,680)|
|Total funds brought forward||||||||
|at 1 July 2022||208,661|8,096,526|122,747|31,819|**8,459,753**|8,673,433|
|**Total funds carried forward**||||||||
|**at 30 June 2023**||**129,701**|**8,239,469**|**20,000**|**3,434**|**8,392,604**|8,459,753|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities in both years.
35
## **Balance Sheet** 30 June 2024
|||**2024**|**2024**|2023|2023|
|---|---|---|---|---|---|
||Notes|**£**|**£**|£|£|
|**Fixed assets**||||||
|Tangible fixed assets|8||**305,268**||180,262|
|Investments|9||**8,975,470**||8,079,207|
||||**9,280,738**||8,259,469|
|**Current assets**||||||
|Debtors|10|**104,290**||115,993||
|Cash at bank and in hand||**72,718**||41,331||
|||**177,008**||157,324||
|**Creditors**: amounts falling due||||||
|within one year|11|**(50,197)**||(24,189)||
|**Net current assets**|||**126,811**||133,135|
|**Total assets**|||**9,407,549**||8,392,604|
|**The funds of the charity:**||||||
|Unrestricted funds|12|||||
|. General fund||**120,709**||129,701||
|. Fixed asset fund||**9,280,738**||8,239,469||
|. Designated fund||**-**||20,000||
||||**9,401,447**||8,389,170|
|Restricted funds|12||**6,102**||3,434|
||||**9,407,549**||8,392,604|
The financial statements were approved by the Board on 12 March 2025 and signed on its behalf by:
## Chairman - M Nevill
Reedham Children’s Trust
Company registration number 00081410
36
## **Statement of Cashflows** Year to 30 June 2024
|||**2024**|2023|
|---|---|---|---|
||Notes|**£**|£|
|**Cash flow used operating activities:**||||
|Net cash used in operating activities|A|**(408,774) **|(481,453)|
|||**(408,774) **|(481,453)|
|**Cash flow from investing activities:**||
||
|Dividends and interest from investments||**193,260**|268,028|
|Purchase of fixed assets||**(1,050)**||
|Proceeds from the disposal of investments||**7,527,662**|576,864|
|Purchase of investments||**(7,434,795)**|-|
|Capital distribution of investments||**316**|963|
|**Net cash provided by investing activities**||**285,393**|845,855|
|**Change in cash and cash equivalents in the year**||
**(123,381)**|364,402|
|**Cash and cash equivalents at 1 July 2023**|B|
**611,383**
|246,981|
|**Cash and cash equivalents at 30 June 2024**|B|**488,002**|611,383|
## **A Reconciliation of net movement in funds to net cash flow from operating activities**
|||**2024**|2023|
|---|---|---|---|
|||**£**|£|
||**Net (expenditure)/income in funds (as per the statement of**|**1,014,945**|(67,149)|
||**financial activities)**|||
||Adjustments for:|||
||(Gains) on revaluation of fixed assets|**(133,977)**|-|
||Depreciation charge|**10,022**|10,479|
||(Gain) on investments|**(1,144,212)**|(74,473)|
||Dividends and interest from investments|**(193,260)**|(268,028)|
||Decrease/(Increase) in debtors|**11,700**|193|
||(Decrease)/Increase in creditors|**26,008**|(82,475)|
||**Net cash used in operating activities**|**(408,774)**|(481,453)|
|**B Analysis of cash and cash equivalents**|**B Analysis of cash and cash equivalents**|||
|**B Analysis of cash and cash equivalents**|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|Cash at bank and in hand|**72,718**|41,331|
|Cash held by investment managers|**415,284**|570,052|
|**Total cash and cash equivalents**|**488,002**|611,383|
37
## **Statement of Cashflows** Year to 30 June 2024
## **C Analysis of changes in net debt**
||At 1 July|Cash|**At 30 June**|
|---|---|---|---|
||2023|flows|**2024**|
||£|£|**£**|
|Cash and cash equivalents|611,383|123,381|**488,002**|
|**Total**|611,383|123,381|**488,002**|
No separate reconciliation of net debt has been prepared as there is no difference between the net cash (debt) of the Charity and the cash and cash equivalents.
38
## **Principal Accounting policies** 30 June 2024
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.
## **Basis of preparation**
These financial statements have been prepared for the year to 30 June 2024.
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 United Kingdom and Republic of Ireland (FRS 102) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention except for the modification to a fair value basis as specified in the accounting policies below.
The charity constitutes a public benefit entity as defined by FRS 102.
All financial information is presented in British Pounds Sterling (£), the charity’s functional currency, and has been rounded to the nearest pound (£).
## **Critical accounting estimates and areas of judgement**
Preparation of the accounts requires the members of the Board to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include:
- estimating the useful economic life of tangible fixed assets.
## **Assessment of going concern**
The members of the Board of Management of the charity have not identified any material uncertainties relating to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment in respect to a period of one year from the date of approval of these financial statements.
The members of the Board of Management consider that the returns on the investment portfolio together with the underlying capital value are sufficient to meet the anticipated grant commitments for the future years, if required.
## **Income**
Income is recognised in the period in which the charity has entitlement to the income and the amount can be measured reliably and it is probable that the income will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.
Gifts in Kind donated to the charity are recognised at the estimated market value.
## _Investment income_
Investment income comprises dividends and interest on the charity’s portfolio of listed investments. Dividends are recognised once the dividend has been declared and the charity has received notification that the dividend is due.
39
## **Principal Accounting policies** 30 June 2024
Interest on the charity’s investment portfolio and funds held on deposit is recognised when receipt is probable and the amount can be measured reliably using the effective interest method.
## _Legacies_
Legacies are recognised in the financial statements on a receivable basis, when there is sufficient evidence to provide the necessary certainty that the legacy will be received and the value of the income can be measured with sufficient reliability.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. It includes VAT which cannot be recovered.
Expenditure on charitable activities comprises grants awarded, holiday scheme costs and the related support and governance costs. Grants awarded represent school fees and related costs payable in the year. They are recognised when approved and when the intended recipient has either received the funds or been informed of the decision to make the donation and has satisfied all related conditions.
Fundraising and events costs are incurred in securing donations to the charity.
Support costs include administration, personnel and governance costs. Governance costs include audit costs and legal costs relating to the charity’s compliance with regulation and good practice.
## **Tangible fixed assets**
Depreciation of tangible fixed assets is charged so as to write off their full valuation/cost, over their expected useful lives at the following rates:
Freehold property: The charity follows a policy of revaluation of the freehold property, ensuring that the property is included in the financial statements at its market value based on existing use. The property is depreciated over a 23 year period.
Equipment and furniture: 20% of cost per annum Website: 25% of cost per annum
## **Fixed asset investments**
The charity’s investments are initially measured at cost and subsequently at market value. Investment gains and losses, whether realised or unrealised, are recognised in the statement of financial activities in the period in which they arise.
## **Debtors**
Debtors are initially recognised at their settlement amount and subsequently at amortised cost or their recoverable amount. Prepayments are valued at the amount prepaid.
40
**Principal Accounting policies** 30 June 2024
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.
## **Creditors and provisions**
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be measured or estimated reliably.
Creditors and provisions are initially recognised at fair value, being the amount the charity anticipates it will pay to settle the debt, and subsequently at amortised cost.
## **Fund accounting**
The unrestricted general fund comprises those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the members of the Board of Management.
The designated funds are monies set aside out of the general fund and designated for specific purposes by the members of the Board of Management.
The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.
41
**Notes to the Financial Statements** 30 June 2024
## **1. Donations and legacies**
|**1. Donations and legacies**||||
|---|---|---|---|
||Unrestricted|Restricted|**2024**|
||funds|funds|**Total**|
||£|£|**£**|
|Donations|67,282|21,552|**88,834**|
|Legacies|5,293|–|**5,293**|
|**2024 Total**|72,575|21,552|**94,127**|
||_Unrestricted_|_Restricted_|_2023_|
||_funds_|_funds_|_Total_|
||_£_|_£_|_£_|
|_Donations_|_31,508_|_72,690_|_104,198_|
|_Legacies_|_7,680_|_–_|_7,680_|
|_2023 Total_|_39,188_|_72,690_|_111,878_|
## **2. Income from investments**
|**2. Income from investments**||||
|---|---|---|---|
||Unrestricted|Restricted|**2024**|
||funds|funds|**Total**|
||£|£|**£**|
|Investments|192,538|–|**192,538**|
|Bank interest|722|–|**722**|
|**2024 Total**|193,260|–|**193,260**|
||_Unrestricted_|_Restricted_|_2023_|
||_funds_|_funds_|_Total_|
||_£_|_£_|_£_|
|_Investments_|_267,344_|_–_|_267,344_|
|_Bank interest_|_684_|_–_|_684_|
|_2023 Total_|_268,028_|_–_|_268,028_|
42
## **Notes to the Financial Statements** 30 June 2024
## **3. Allocation of support costs**
|**3. Allocation of support costs**||||
|---|---|---|---|
||Raising|Charitable|**2024**|
||funds|activities|**Total**|
||£|£|**£**|
|Support salaries|31,886|47,829|**79,715**|
|Recruitment, training and other staff costs|3,638|5,456|**9,094**|
|Rates and insurance|1,025|1,537|**2,562**|
|Upkeep of premises|844|1,266|**2,110**|
|Utilities|1,084|1,626|**2,710**|
|Stationery, postage and telephone|1,044|1,565|**2,609**|
|Office and sundry expenses|1,712|2,568|**4,280**|
|Computer consultancy|1,181|1,772|**2,953**|
|Website support and hosting|3,842|5,763|**9,605**|
|Depreciation:||||
|. Equipment and furniture|183|274|**457**|
|. Freehold property|3,826|5,739|**9,565**|
|Professional fees|1,949|2,924|**4,873**|
|Bank charges|24|36|**60**|
|Governance cost - Auditor’s remuneration|3,960|5,940|**9,900**|
|**2024 Total funds**|56,198|84,295|**140,493**|
||_Raising_|_Charitable_|_2023_|
|---|---|---|---|
||_funds_|_activities_|_Total_|
||_£_|_£_|_£_|
|_Support salaries_|_43,059_|_64,588_|_107,647_|
|_Recruitment, training and other staff costs_|_734_|_1,100_|_1,834_|
|_Rates and insurance_|_995_|_1,493_|_2,488_|
|_Upkeep of premises_|_876_|_1,315_|_2,191_|
|_Utilities_|_421_|_631_|_1,052_|
|_Stationery, postage and telephone_|_1,730_|_2,595_|_4,325_|
|_Office and sundry expenses_|_1,040_|_1,560_|_2,600_|
|_Computer consultancy_|_1,421_|_2,131_|_3,552_|
|_Website support and hosting_|_3,735_|_5,603_|_9,338_|
|_Depreciation:_||||
|_. Equipment and furniture_|_366_|_548_|_914_|
|_. Freehold property_|_3,826_|_5,739_|_9,565_|
|_Professional fees_|_1,643_|_2,464_|_4,107_|
|_Bank charges_|_30_|_44_|_74_|
|_Governance cost - Auditor’s remuneration_|_3,157_|_4,735_|_7,892_|
|_2023 Total funds_|_63,033_|_94,546_|_157,579_|
All support costs have been allocated to activities based on staff time spent.
43
## **Notes to the Financial Statements** 30 June 2024
## **4** . **Net expenditure for the year**
This is stated after charging:
|||**Total**|Total|
|---|---|---|---|
|||**2024**|2023|
|||**£**|£|
|Staff costs (note 7)||**247,924**|263,671|
|Auditor’s remuneration||||
|Audit||**9,900**|7,740|
|Depreciation||**10,022**|10,479|
|**Fundraising and event costs**||||
||Unrestricted|Restricted|**2024**|
||funds|funds|**Total**|
||£|£|**£**|
|Direct costs|87,775|-|**87,775**|
|Support costs (see note 3)|56,197|-|**56,197**|
|**2024 Total funds**|143,972|-|**143,972**|
||_Unrestricted_|_Restricted_|_2023_|
||_funds_|_funds_|_Total_|
||_£_|_£_|_£_|
|_Direct costs_|_79,431_|_-_|_79,431_|
|_Support costs (see note 3)_|_63,033_|_-_|_63,033_|
|_2023 Total funds_|_142,464_|_-_|_142,464_|
|**6. Children’s services**||||
||Unrestricted|Restricted|**2024**|
||funds|funds|**Total**|
||£|£|**£**|
|Direct costs: Grants to pupils|17,811|1,553|**19,364**|
|Direct costs: Food and toy vouchers|25,502|7,873|**33,375**|
|Direct costs: Onside Youth Zone (Legacy)|43,293|8,356|**51,649**|
|Direct costs: Explore Projects|34,412|1,102|**35,514**|
|Direct costs: Croydon Refugee Day Centre|15,564|–|**15,564**|
|Direct costs: CYC Innovation Projects|42,556|–|**42,556**|
|Other direct costs|94,421|–|**94,421**|
|Support costs (see note 3)|84,295|–|**84,295**|
|**2024 Total funds**|357,854|18,884|**376,738**|
||_Unrestricted_|_Restricted_|_2023_|
||_funds_|_funds_|_Total_|
||_£_|_£_|_£_|
|_Direct costs: Grants to pupils_|_37,686_|_54,301_|_91,987_|
|_Direct costs: Food and toy vouchers_|_Direct costs: Food and toy vouchers_
_–_|_26,774_|_26,774_|
|_Direct costs: Onside Youth Zone (Legacy)_|_31,586_|_20,000_|_51,586_|
|_Direct costs: Explore Projects_|_15,440_|_–_|_15,440_|
|_Other direct costs_|_74,817_|_–_|_74,817_|
|_Support costs (see note 3)_|_94,546_|_–_|_94,546_|
|_2023 Total funds_|_254,075_|_101,075_|_355,150_|
## **5. Fundraising and event costs**
## **6. Children’s services**
44
## **Notes to the Financial Statements** 30 June 2024
## **7. Employee information**
The average number of persons employed on a part-time basis during the year was 6 (2023: 6).
||**2024**|2023|
|---|---|---|
||**£**|£|
|Wages and salaries|**217,630**|230,532|
|Social security costs|**21,627**|24,461|
|Pension costs|**8,667**|8,678|
||**247,924**|263,671|
No employee received emoluments exceeding £60,000 during the year ended 30 June 2024 (2023: nil).
No Board member received any remuneration during the year ended 30 June 2024 (2023: none). Travel expenses of £278 was reimbursed to a Board member during the year ended 30 June 2024 (2023: £215). The Charity paid £574 for an annual Trustees Indemnity Insurance policy.
Pension costs are payable in respect of defined contribution pension schemes. Contributions are recognised in the statement of financial activities in the year which they are payable to the scheme.
Key management personnel comprises the CEO and the Board of Management. The total remuneration of the charity’s key management personnel (including employer’s national insurance and pension contributions) for the year was £62,370 (2023: £66,573).
During the year, a redundancy payment of £4,823 was paid to one employee (2023: None).
## **8. Tangible fixed assets**
|**8. Tangible fixed assets**|||||
|---|---|---|---|---|
|||Equipment|||
||Freehold|and|||
||property|furniture|Website|**Total**|
||£|£|£|**£**|
|**Cost or valuation**|||||
|At 1 July 2023|220,000|13,515|24,000|**257,515**|
|Additions|-|1,050|-|**1,050**|
|Valuations|84,000|-|-|**84,000**|
|At 30 June 2024|304,000|14,565|24,000|**342,565**|
|**Depreciation**|||||
|At 1 July 2023|40,412|12,840|24,000|**77,252**|
|Charge for the year|9,565|457|-|**10,022**|
|Revaluations|(49,977)|-|-|**(49,977)**|
|At 30 June 2024|-|13,297|24,000|**37,297**|
|**Net book value**|||||
|**At 30 June 2024**|**304,000**|**1,268**|**-**|**305,268**|
|At 30 June 2023|179,588|675|-|**180,263**|
45
## **Notes to the Financial Statements** 30 June 2024
The freehold property used in the management and administration of the charity was professionally valued by Surveyline, independent chartered surveyors and valuers, on 26 June 2024. The market value of the property is £304,000. The historical cost of the freehold property is £39,940. The Board of Management believe there is no material change to the value of the property at 30 June 2024.
## **9 Investments**
|**Investments**|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|Market value at 1 July|**7,509,155**|8,012,509|
|Additions at cost|**7,434,795**||
|Disposals at opening book value|**(7,398,352)**|(694,784)|
|Net unrealised gain|**1,014,588**|191,430|
|Market value at 30 June|**8,560,186**|7,509,155|
|Cash held by investment managers for re-investment|**415,284**|570,052|
|Total carrying value at 30 June|**8,975,470**|8,079,207|
|Cost at 30 June|**7,965,990**|6,344,282|
At 30 June 2024 the charity held the following investments representing more than 5% of its portfolio:
- Vanguard Funds Plc FTSE All-World Ucits £6,868,703 (2023: nil)
- British Government Bonds with differing maturities of £1,064,127 (2023: nil)
||**2024**|2023|
|---|---|---|
|Disposals|**£**|£|
|Proceeds|**7,527,662**|576,864|
|Opening book value|**(7,398,038)**|(694,784)|
|Realisedgain/(loss)|**(129,624)**|(117,920)|
|**10 Debtors**|||
||**2024**|2023|
||**£**|£|
|Due from investment managers|**93,566**|104,285|
|Income tax recoverable|**-**|-|
|Prepayments|**10,724**|11,708|
||**104,290**|115,993|
## **10 Debtors**
## **11 Creditors**
|**11 Creditors**|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|Accruals|**46,755**|18,559|
|Social security|**3,442**|5,630|
||**50,197**|24,189|
46
## **Notes to the Financial Statements** 30 June 2024
## **12 Reserves**
||General|Fixed asset|Designated|Restricted||
|---|---|---|---|---|---|
||fund|fund|fund|funds|**Total**|
||£|£|£|£|**£**|
|Balance brought forward at 1 July 2023|129,701|129,701
8,239,469|
20,000|3,434|**8,392,604**|
|Income|265,835|265,835
–|
–|21,552|**287,387**|
|Expenditure|(503,914)|(503,914)
(10,022)|
(17,811)|(18,884)|**(550,631)**|
|Net investment gain|–|–
1,144,212|
–|–|**1,144,212**|
|Revaluation of fixed asset|–|–
133,977|
–|–|**133,977**|
|Transfers between funds|229,087|087
(226,898)|
(2,189)|–|**–**|
|Balance carried forward at 30 June 2024|120,709|120,709
9,280,738|
–|6,102|**9,407,549**|
## _**Fixed asset fund**_
The fixed asset fund of the charity represents the carrying value of the charity’s tangible fixed assets and investments at 30 June 2024, less the designated fund. The funds have been ring-fenced in a separate fund to demonstrate the assets are being held by the charity for the long term: the tangible fixed assets for use in the running of the charity’s activities; and the investments for the generation of income.
## _**Restricted funds**_
Restricted funds are held for food and toy vouchers for young people in our community.
|**_Net assets between funds_**||||||
|---|---|---|---|---|---|
||General|General
Fixed asset|Designated|Restricted|**2024**|
||fund|fund
fund|fund|fund|**Total**|
||£|£
£|£|£|**£**|
|Tangible fixed assets|–|305,268|305,268
–|–|**305,268**|
|Investments|–|8,975,470|8,975,470
–|–|**8,975,470**|
|Current assets|170,906|–|–
–|6,102|**177,008**|
|Current liabilities|(50,197)|–|–
–|–|**(50,197)**|
||120,709|9,280,738|9,280,738
–|6,102|**9,407,549**|
47
## **Notes to the Financial Statements** 30 June 2024
## **12. Reserves** _(continued)_
|**_Net assets between funds_**||||||
|---|---|---|---|---|---|
||General|General
Fixed asset|Designated|Restricted|**2023**|
||fund|fund
fund|fund|fund|**Total**|
||£|£
£|£|£|**£**|
|Tangible fixed assets|–|180,262|180,262
–|–|**180,262**|
|Investments|–|8,059,207|8,059,207
20,000|–|**8,079,207**|
|Current assets|153,890|–|–
–|3,434|**157,324**|
|Current liabilities|(24,189)|–|–
–|–|**(24,189)**|
||129,701|8,239,469|8,239,469
20,000|3,434|**8,392,604**|
The total unrealised gains as at 30 June 2024 constitute movements on revaluation and are as follows:
||**2024**|
|---|---|
||**£**|
|Unrealised gains include above:||
|On investments|**4,047,308**|
|Reconciliation of movements in unrealised gains||
|At 1 July 2023|**1,164,873**|
|Add: Unrealised gains in respect to disposals in the year|**1,867,847**|
|Add: Net gain arising on revaluation|**1,014,588**|
|At 30 June 2024|**4,047,308**|
## **13 Related party transactions**
The aggregate amount of donations received from the members of the Board of Management during the year ended 30 June 2024 was £240 (2023: £240). There were no other related party transactions during the year.
## **14 Members’ liability**
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability of members is limited to £1 each.
## **15 Taxation**
The Reedham Children’s Trust is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
48
## **Notes to the Financial Statements** 30 June 2024
## **16. Grant Commitments**
As of 30 June 2024, the Charity has entered into grant commitments to provide financial support for various projects to support vulnerable children and young people. The Board of Management consider grants payable over more than one year. Further grant payments are subject to conditions within the control of the Charity and the Charity has the discretion to terminate the grant before payments are made. At 30 June 2024, the potential amounts payable are as follows:
||**2024**|2023|
|---|---|---|
||**£**|£|
|Payable within one year|**200,542**|87,111|
|Payable within one to fouryears|**33,664**|-|
49